Stockholders' Equity - Common and Preferred Shares (Tables)

3 Months Ended

Mar. 31, 2015

Summary of the Company's Outstanding Common Stock Warrants

The following is a summary of the Company’s outstanding common stock warrants as of March 31, 2015 and December 31, 2014:


					Number of warrants (In thousands)
Warrants Issued in Connection with:	Date of Issuance	Warrant Term	Exercise Price		March 31, 2015		December 31, 2014
Private Placement Series A Warrants	04/16/13	5 years	$	3.40		1,460		1,460
Private Placement Series B Warrants *	04/16/13	2 years	$	3.40		757		757
2013 Private Placement Warrants	09/23/13	5 years	$	2.24		—		—
2013 Private Placement Warrants	09/23/13	5 years	$	2.80		147		147
2014 Public Offering Warrants	02/18/14	5 years	$	2.75		1,872		1,872
2014 Public Offering Warrants	02/18/14	5 years	$	2.56		293		293
2014 Private Placement Warrants	05/28/14	5 years & 3 months	$	2.90		2,700		2,700
2014 Private Placement Warrants	05/28/14	5 years & 3 months	$	3.70		216		216
2015 Private Placement Warrants	03/25/15	5 years	$	1.71		2,920		—
2015 Private Placement Warrants	03/25/15	2 years & 3 months	$	2.13		234		—

Total Warrants Outstanding						10,599		7,445

Summary of the Company's Stock Option Activity under its 2005 Plan

The following is a summary of the Company’s stock option activity under its 2005 Plan for the three months ended March 31, 2015:


	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value
	(In thousands)					(Years)		(In thousands)

Options outstanding at December 31, 2014		672		$	3.63		8.49

Granted		25		$	1.74
Forfeited and expired		(8	)	$	3.28

Options outstanding at March 31, 2015		689		$	3.57		8.30	$	—


Options exercisable at March 31, 2015		272		$	4.50		7.06	$	—

Options vested or expected to vest at March 31, 2015		585		$	3.67		8.15	$	—

Weighted-Average Assumptions

The fair values for the stock options granted were estimated at the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions for the three months ended March 31, 2015:


Weighted Average Assumptions
Risk-free interest rate	1.47	%
Expected life (years)	4.00
Expected volatility	94.50	%
Dividend yield	0	%

- 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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