Stock Incentive Plan Compensation (Tables)

12 Months Ended

Dec. 31, 2016

Stock Incentive Plan Compensation [Abstract]

Stock option valuation assumptions

The weighted-average assumptions used in the Black-Scholes option pricing model to determine the fair value of the stock option grants were as follows:

	Year ended December 31,
	2016		2015
Risk-free interest rate	1.22 - 1.63	%	1.55 - 1.78	%
Expected volatility	113-123	%	139	%
Expected term (in years)	6.0		6.0 - 10.0
Expected dividend yield	0	%	0	%

Allocation of Stock-Based Compensation Expenses

The estimated grant-date fair value of the Company’s stock-based awards is amortized ratably over the awards’ service periods. Stock-based compensation expense recognized was as follows:

	Year Ended December 31,
	2016		2015
Research and development	$	138,000	$	122,000
General and administrative		1,857,000		361,000
Total stock-based compensation	$	1,995,000	$	483,000

Summary of Stock Option Activity

The following table summarizes stock option activity for the years ended December 31, 2016 and 2015:

			Options Outstanding
							Average
					Weighted		Remaining
	Shares				Average		Contractual
	Available				Exercise		Term		Intrinsic
	For Grant		Shares		Price		(Years)		Value
Balance, December 31, 2014		785,000		440,695
Granted		(596,569)		596,569
Exercised		-		(214,815)
Forfeited/Cancelled		15,000		(152,680)
Shares authorized		520,000		-
Balance, December 31, 2015		723,431		669,769	$	8.68		9.29	$	-
Granted		(264,208)		264,208		2.65		-		-
Exercised		-		-		-		-		-
Forfeited/Cancelled		180,939		(185,039)		9.00		-		-
Shares authorized		1,000,000		-		-		-		-
Balance, December 31, 2016		1,640,162		748,938	$	6.45		8.65	$	-
Vested or expected to vest at December 31, 2016				703,508	$	6.57		8.62	$	-
Exercisable at December 31, 2016				316,107	$	8.88		8.20	$	-

Shares Reserved for Future Issuance

As of December 31, 2016, the Company had reserved shares of its common stock for future issuance as follows:

	Shares Reserved
Stock options outstanding		748,938
Employee stock purchase plan		87,274
Available for future grants under the 2016 Plan		1,640,162
Warrants		7,751,376
Total shares reserved		10,227,750