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Fair Value Measurments (Tables)
12 Months Ended
Dec. 31, 2015
Fair Value Measurements.  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

        The following table summarizes the financial instruments measured at fair value on a recurring basis in the consolidated balance sheets (in thousands):

                                                                                                                                                                                    

 

 

Total

 

Quoted Prices
in Active
Markets for
Identical Items
(Level 1)

 

Significant
Other
Observable
Inputs
(Level 2)

 

Significant
Other
Unobservable
Inputs
(Level 3)

 

Balance at December 31, 2015

 

 

 

 

 

 

 

 

 

 

 

 

 

Common stock warrant liability

 

$

5,735 

 

$

 

$

 

$

5,735 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Balance at December 31, 2014

 

 

 

 

 

 

 

 

 

 

 

 

 

Common stock warrant liability

 

$

9,418 

 

$

 

$

 

$

9,418 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

Assumptions used to calculate common stock warrants

                                                                                                                                                                                    

 

 

At
December 31, 2015

 

At
December 31, 2014

Risk-free interest rate

 

0.5% - 1.28%

 

0.21% - 1.35%

Volatility

 

79.82% - 128.35%

 

119.16% - 136.62%

Expected average term

 

0.42 - 3.04

 

1.42 - 4.04

 

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

 

        The following table shows reconciliations of the beginning and ending balances for financial instruments measured at fair value on a recurring basis using significant unobservable inputs (in thousands):

                                                                                                                                                                                    

 

 

Fair Value
Measurement
Using Significant
Unobservable Inputs

 

Common stock warrant liability

 

2015

 

2014

 

Beginning of period

 

$

9,418

 

$

28,830

 

Change in fair value of common stock warrants

 

 

(3,661

)

 

52,260

 

Issuance of common stock warrants

 

 

 

 

11,773

 

Exercise of common stock warrants

 

 

(22

)

 

(83,445

)

​  

​  

​  

​  

End of period

 

$

5,735

 

$

9,418

 

​  

​  

​  

​  

​  

​  

​  

​