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Organization and Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2015
Accounting Policies [Abstract]  
Fair Values of Assets and Liabilities

The table below sets forth a summary of the fair values of the Company’s assets and liabilities as of September 30, 2015 (in thousands):

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

ASSETS:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents

 

$

5

 

 

$

5

 

 

$

 

 

$

 

LIABILITIES:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Warrants to purchase common stock

 

$

1,354

 

 

$

 

 

$

 

 

$

1,354

 

 

The table below sets forth a summary of the fair values of the Company’s assets and liabilities as of December 31, 2014 (in thousands):

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

ASSETS:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents

 

$

5

 

 

$

5

 

 

$

 

 

$

 

LIABILITIES:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Warrants to purchase common stock

 

$

4,216

 

 

$

 

 

$

 

 

$

4,216

 

 

Fair Value Measurement and Unobservable Rollforward Activity of Liabilities

The following table displays the rollforward activity of liabilities with inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity) (in thousands):

 

 

 

 

Warrants to purchase

 

 

 

common stock

 

Beginning balance at December 31, 2013

 

$

4,925

 

Issuances of warrants

 

 

4,831

 

Exercise of warrants

 

 

(104

)

Adjustments to estimated fair value

 

 

(2,405

)

Warrants exchanged for common stock

 

 

(3,031

)

Ending balance at December 31, 2014

 

 

4,216

 

Exercise of warrants

 

 

(394

)

Adjustments to estimated fair value

 

 

(2,468

)

Ending balance at September 30, 2015

 

$

1,354