Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2017

Stock-Based Compensation [Abstract]

Weighted-Average Valuation Assumptions, Stock Option Grants

The assumptions used in the Black-Scholes option pricing model are presented below:

	Nine Months Ended September 30,
	2017		2016
Risk-free interest rate	1.27 to 2.29	%	1.22 to 1.63	%
Expected volatility	117 to 144	%	113 to 123	%
Expected term (years)	2.0 to 9.6		6.0
Expected dividend yield	0	%	0	%

Allocation of Stock-Based Compensation Expenses

The table below summarizes the total stock-based compensation expense included in the Company’s consolidated statements of operations for the periods presented:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
Research and development	$	32,000	$	37,000	$	133,000	$	89,000
General and administrative		66,000		297,000		435,000		1,609,000
Total stock-based compensation	$	98,000	$	334,000	$	568,000	$	1,698,000

Summary of Stock Option Activity

Stock option transactions during the nine months ended September 30, 2017 are presented below:

	Options Outstanding
					Average
			Weighted		Remaining
			Average		Contractual
			Exercise		Term		Intrinsic
	Shares		Price		(Years)		Value
Balance, December 31, 2016		74,890	$	64.50		8.65	$	-
Granted		1,070,572		1.22		-
Exercised		-		-		-
Forfeited/Cancelled		(28,697)		89.66		-
Balance, September 30, 2017		1,116,765	$	3.19		9.23	$	24,000
Exercisable at September 30, 2017		131,928	$	12.89		4.13	$	9,000

Shares Reserved for Future Issuance

As of September 30, 2017, the Company had reserved shares of its common stock for future issuance as follows:

	Shares Reserved
Stock options outstanding		1,116,765
Employee stock purchase plan		21,016
Available for future grants under the 2016 Plan		4,580
Warrants		8,712,220
Total shares reserved		9,854,581