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Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2018
Fair Value Disclosures [Abstract]  
Fair Value, Instruments Classified in Shareholders' Equity Measured on Recurring Basis, Unobservable Input Reconciliation
The following table summarizes changes to the fair value of the Level 3 2016 Warrants for the year ended December 31, 2017:
 
 
 
Fair Value of

Warrant

Liability
 
 
 
(in thousands)
 
Balance at December 31, 2016
 
$
2,906
 
Change in fair value
 
 
(2,374
)
Extinguished
 
 
(357
)
Reclassified to equity
 
 
(175
)
Balance at December 31, 2017
 
$
-
 
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 on the reclassification dates of June 13, 2017 and May 21, 2017 and as of December 31, 2016:
 
 
 
As of

June 13,

2017
 
As of

May 21,

2017
 
As of

December 31,

2016
Risk-free interest rate
 
 
1.51
%
 
 
1.78
%
 
 
1.93
%
Expected volatility
 
 
88
%
 
 
89
%
 
 
98
%
Expected term in years
 
 
4.6
 
 
 
4.6
 
 
 
5.0
 
Dividend yield
 
 
-
%
 
 
-
%
 
 
-
%