Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2016

Schedule of assets and liabilities measured at fair value on a recurring basis

Assets and liabilities measured at fair value on the Company’s balance sheet on a recurring basis include the following at June 30, 2016 and December 31, 2015 (in thousands):

	Fair Value Measurement at June 30, 2016
	Level 1	Level 2	Level 3
Liabilities:
Warrant liability	-	-	$	360
Bifurcated derivative liability	-	-	$	1,182

	Fair Value Measurement at December 31, 2015
	Level 1	Level 2	Level 3
Liabilities:
Warrant liability	-	-	$	3,072

Schedule of reconciliation of warrant liability

The following is a reconciliation of the warrant liability, included in accrued expenses and other current liabilities in the accompanying unaudited condensed consolidated balance sheets, measured at fair value using Level 3 inputs (in thousands):

	Six Months Ended
	June 30,
	2016		2015
Balance at beginning of period	$	3,072	$	1,474
Issuance of common stock warrants	-		845
Exercise of common stock warrants	(1,124)		-
Remeasurement of common stock warrants	(1,588)		272

Balance at end of period	$	360	$	2,591

Schedule of reconciliation of the embedded derivative measured at fair value

The following is a reconciliation of the embedded derivative measured at fair value using significant unobservable inputs, Level 3 (in thousands):

	Six Months Ended June 30,
	2016
Balance at beginning of period	$	-
Transfers in and/or out of Level 3	-
Initial valuation of bifurcated derivative liability	3,936
Remeasurement of bifurcated derivative liability	(2,754		)

Balance at end of period	$	1,182