Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2017

Summary of the Company's Outstanding Common Stock Warrants

The following is a summary of the Company’s outstanding common stock warrants:


Expiration Date	Exercise Price		June 30, 2017		December 31, 2016
			(in thousands)
6/14/2017	$	3.70		—		216
4/16/2018	$	3.40		1,460		1,460
9/23/2018	$	2.80		147		147
2/11/2019	$	2.56		293		293
2/18/2019	$	2.75		1,872		1,872
8/28/2019	$	2.90		2,700		2,700
3/20/2020	$	2.13		234		234
3/25/2020	$	1.71		2,920		2,920

				9,626		9,842

Summary of the Company's Stock Option Activity under Equity Incentive Plans

The following is a summary of the Company’s stock option activity under its equity incentive plans:


	Options Available for Grant			Options Outstanding			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value
	(in thousands)								(years)		(in thousands)
Balance at December 31, 2016		549			4,177		$	1.47		8.14

Options authorized		2,000
Options granted		(2,484	)		2,484		$	0.42
Options forfeited		720			(720	)	$	1.66

Balance at June 30, 2017		785			5,941		$	1.01		8.30	$	—

Vested and exercisable at June 30, 2017					1,722		$	1.29		7.73	$	—

Vested and expected to vest at June 30, 2017					4,540		$	0.90		8.17	$	—

Unvested at June 30, 2017					4,219		$	0.89

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 periods indicated:


	Six months ended June 30,
	2017			2016
Risk-free interest rate		2.0	%		1.5	%
Expected life (years)		6.0			6.0
Expected volatility		88	%		89	%
Dividend yield		0	%		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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