Stockholders' Equity (Tables)

3 Months Ended

Jun. 30, 2015

Equity [Abstract]

Summary of Company's Restricted Stock Award Activity

A summary of the Company’s restricted stock award activity from March 31, 2015 through June 30, 2015 is as follows:

	Number of Shares
Unvested at March 31, 2015		258,750
Granted		—
Vested		(6,250	)
Canceled / forfeited		(2,500	)
Unvested at June 30, 2015		250,000

Summary of Stock Option Activity

A summary of the Company’s stock option activity for the three months ended June 30, 2015 is as follows:

	Options Outstanding			Weighted- Average Exercise Price		Aggregate Intrinsic Value
Outstanding at March 31, 2015		7,113,548		$	5.21	$	4,969,499
Options granted		1,762,641		$	4.92
Options canceled		(24,003	)	$	5.75
Options exercised		(25,503	)	$	3.01	$	61,484
Outstanding at June 30, 2015		8,826,683		$	5.16	$	5,493,770
Vested and Exercisable at June 30, 2015		3,684,516		$	3.99	$	4,641,630

Fair Value of Employee Stock Options

The fair value of stock options was estimated at the grant date using the following weighted average assumptions:

	Three Months Ended			Three Months Ended
	June 30, 2015			June 30, 2014
Dividend yield		—			—
Volatility		74.25	%		78.02	%
Risk-free interest rate		1.65	%		1.56	%
Expected life of options	6.00 years			6.00 years
Weighted average grant date fair value	$	3.22		$	4.94

Summary of Warrant Activity

The following table summarizes warrant activity for the three months ended June 30, 2015:

	Warrants			Weighted- Average Exercise Price
Balance at March 31, 2015		1,178,109		$	2.59
Granted		—		$	-
Exercised		(38,234	)	$	1.00
Cancelled		(37,500	)	$	7.36
Balance at June 30, 2015		1,102,375		$	2.49

Common Stock Reserved for Future Issuance

Common stock reserved for future issuance consisted of the following at June 30, 2015:

Common stock warrants outstanding	1,102,375
Common stock options outstanding under the 2008 Plan	622,192
Common stock options outstanding and reserved under the 2012    Plan	9,392,028
Total	11,116,595