Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2017

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The Company utilized the Black-Scholes valuation model for estimating the fair value of the stock options granted, with the following weighted-average assumptions for options granted in the three months ended March 31, 2017 and 2016:

	2017			2016
Risk-free interest rate		2.09	%		1.49	%
Expected volatility		100	%		108	%
Expected term in years		6.1			6.1
Dividend yield		-	%		-	%

Schedule of Share-based Compensation, Stock Options, Activity

The following summary represents option activity under the Company’s stock-based compensation plan for the three months ended March 31, 2017:

			Weighted-
			Average
			Exercise
	Options		Price
	(in thousands)
Outstanding at December 31, 2016		7,067	$	1.33
Granted		482		0.80
Outstanding at March 31, 2017		7,549		1.29
Exercisable at March 31, 2017		5,505	$	1.01