Warrants (Tables)

6 Months Ended

Jun. 30, 2017

Class Of Warrant Or Right [Line Items]

As of June 30, 2017, outstanding warrants to purchase Common Stock were:

	Original Term	Exercise Price		Number of Shares Underlying Warrants
Original issue date:
February 2008	10 years	$	35.10		22,792
August 2009	10 years	$	21.78		33,473
July 2010	9 years	$	21.78		6,694
December 2010	7 years	$	21.78		17,215
August 2012	7 years	$	21.78		167,182
January 2015	5 years	$	6.96		34,483
April 2016 (a)	7 years	$	4.00		1,775,580
April 2016 (b)	5 years	$	3.99		200,000
June 2016 (c)	7 years	$	4.00		1,002,507
March 2017 (d)	5 years	$	5.00		1,250,000
					4,509,926

(a)

Issued on April 14, 2016 in connection with the Private Placement to certain accredited investors. The exercise price was reset from $4.98 to $4.00 as a result of the Public Offering that closed on September 26, 2016. In accordance with the anti-dilution provisions, the exercise price of the warrants issued in connection with the Private Placement reset from $4.98 per share to $4.00 per share, which was the price paid by investors in the Public Offering, which closed on September 26, 2016.

(b)	Issued on April 14, 2016 in connection with the Private Placement to placement agents.

(c)

Issued on June 15, 2016 in connection with the Subsequent Financing. The exercise price was reset from $4.98 to $4.00 as a result of the Public Offering that closed on September 26, 2016. In accordance with the anti-dilution provisions, the exercise price of the warrants issued in connection with the Subsequent Financing reset from $4.98 per share to $4.00 per share, which was the price paid by investors in the Public Offering, which closed on September 26, 2016.

(d)	Issued on March 15, 2017 in connection with the JGB Debt.

Refer to Note 18 for an explanation of changes to these warrants effective July 3, 2017.

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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