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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2017
Stock-Based Compensation Expense Related to Common Stock Options, Restricted Common Stock and Common Stock Warrants

Following is the stock-based compensation expense related to common stock options, common stock, restricted common stock and common stock warrants:

 

     Three Months Ended
March 31,
 
     2017      2016  

Research and development

   $ 166      $ 254  

General and administrative

     164        969  
  

 

 

    

 

 

 

Total stock-based compensation expense

   $ 330      $ 1,223  
  

 

 

    

 

 

 
Summary of Stock Option Activity

The following table summarizes the stock option activity in the Company’s equity incentive plans, including non-plan grants to Company executives, from December 31, 2016 through March 31, 2017:

 

     Shares      Weighted Average
Exercise Price
 

Outstanding, December 31, 2016

     4,656,888      $ 4.30  

Granted

     —          —    

Exercised

     —          —    

Options forfeited/cancelled

     —          —    
  

 

 

    

Outstanding, March 31, 2017

     4,656,888      $ 4.30  
  

 

 

    
Weighted Average Assumptions Used to Determine Fair Value of Options Granted

The fair value of all other options granted is determined using the Black-Scholes option-pricing model. The following weighted average assumptions were used:

 

     Three
Months Ended
March 31,
     Three
Months Ended
March 31,
 
     2017      2016  

Risk-free interest rate

     —          1.7

Expected life of the options

     —          6.0 years  

Expected volatility of the underlying stock

     —          94

Expected dividend rate

     —          0
Summary of Restricted Stock Grant Activity

The following table summarizes the restricted stock grant activity in the Company’s equity incentive plans from December 31, 2016 through March 31, 2017:

 

     Shares  

Outstanding, December 31, 2016

     754,605  

Granted

     —    

Exercised

     —    

Options forfeited/cancelled

     —    
  

 

 

 

Outstanding, March 31, 2017

     754,605