Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2016

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table summarizes the Company’s 2016 Warrants measured at fair value within the hierarchy on a recurring basis as of September 30, 2016:

	Fair Value Measurements at
	September 30, 2016
	(in thousands)
	Level 1		Level 2		Level 3		Total
Liabilities:
Warrant liability	$	-	$	-	$	3,199	$	3,199

Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The following table summarizes changes to the fair value of the Level 3 2016 Warrants for the nine months ended September 30, 2016:

	Fair Value of
	Warrant Liability
	(in thousands)
Balance at December 31, 2015	$	-
Issuance		4,619
Change in fair value		(1,420)
Balance at September 30, 2016	$	3,199

Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques

The Company utilized the Binomial Lattice Model for estimating the fair value of the 2016 Warrants using the following assumptions as of September 30, 2016:

	As of  September 30,
	2016
Risk-free interest rate		1.14	%
Expected volatility		104	%
Expected term in years		5.3
Dividend yield		-	%