Net Loss per Common Share (Tables)

6 Months Ended

Jun. 30, 2017

Net Loss per Common Share [Abstract]

Computation of Basic and Diluted Net Income (Loss) Per Share

The following table sets forth the computation of basic and diluted net loss per common share for the periods indicated:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2017		2016		2017		2016
Basic and diluted net loss per common share calculation:
Net loss	$	(6,461,000)	$	(3,851,000)	$	(9,707,000)	$	(6,963,000)
Excess of fair value of consideration transferred on conversion of Series B redeemable convertible preferred stock		-		(2,366,000)		-		(2,366,000)
Accretion of Series B redeemable convertible preferred stock		-		(133,000)		-		(1,858,000)
Net loss attributable to common stockholders - basic	$	(6,461,000)	$	(6,350,000)	$	(9,707,000)	$	(11,187,000)
Changes in fair value of November 2016 warrants		(1,580,000)		-		(1,580,000)		-
Net loss attributable to common stockholders - diluted	$	(8,041,000)	$	(6,350,000)	$	(11,287,000)	$	(11,187,000)
Weighted average common shares outstanding - basic		5,350,930		874,062		3,514,181		731,206
Net loss per share of common stock - basic	$	(1.21)	$	(7.26)	$	(2.76)	$	(15.30)
Weighted average common shares outstanding - diluted		5,519,895		876,806		3,652,501		732,578
Net loss per share of common stock -  diluted	$	(1.46)	$	(7.82)	$	(3.09)	$	(15.96)

Antidilutive Securities Excluded from Computation of Diluted Weighted Shares Outstanding

The $1,580,000 change in fair value of November 2016 warrants for the three and six months ended June 30, 2017 included a gain from the reduction in fair value starting when the warrants were in the money as a result of the exercise price adjustment made in connection with the Company’s 1-for-10 reverse stock split in April 2017 (See Note 4).

The following outstanding securities at June 30, 2017 and 2016 have been excluded from the computation of diluted weighted average shares outstanding for the three and six months ended June 30, 2017 and 2016, as they would have been anti-dilutive:

	Three Months Ended			Six Months Ended
	June 30,				June 30,
	2017		2016		2017	2016
Options		285,276	73,902		285,276	73,902
Warrants		8,442,670	137,964		8,442,670	137,964
Total		8,727,946	211,866		8,727,946	211,866