Stock-Based Compensation and Stock Options and Awards (Tables)

9 Months Ended

Sep. 30, 2016

Schedule of Stock-Based Compensation Expense

The following table shows the stock-based compensation expense included in the accompanying Condensed Consolidated Statements of Operations and Comprehensive Loss for the three and nine months ended September 30, 2016 and 2015 (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2016		2015		2016		2015
Costs and expenses:
Research and development	$	190	$	150	$	564	$	367
General and administrative		196		106		621		331
Total stock-based compensation expense	$	386	$	256	$	1,185	$	698

Schedule of Activity Under Stock Option Plan

The following is a summary of activity under the 2005 Plan and the 2015 Plan for the nine months ended September 30, 2016:

	Shares Available for Future Grant
Balance at January 1, 2016		252,725
Increase in authorized shares		2,400,000
Options granted		(765,323	)
Options cancelled		26,697
Awards granted		(166,000	)
Balance at September 30, 2016		1,748,099

	Options Outstanding
	Number of Shares			Weighted Average Exercise Price		Weighted Remaining Contractual Term		Aggregate Intrinsic Value
Outstanding at January 1, 2016		947,142		$	11.40
Options granted		765,323		$	4.15
Options cancelled		(26,697	)	$	73.58
Outstanding at September 30, 2016		1,685,768		$	7.12		8.33	$	2,163,183
Exercisable at September 30, 2016		516,392		$	10.29		7.00	$	152,582

Restricted Stock Award [Member]

Schedule of Unvested Restricted Stock Award Activities

A summary of the Company’s unvested restricted stock award activities as of September 30, 2016 is presented below representing the maximum number of shares that could be earned or vested under the 2005 Plan and the 2015 Plan:

	Number of Shares			Weighted Average Grant Date Fair Value
Balance at December 31, 2015		300		$	57.60
Restricted shares granted		166,000		$	3.87
Restricted share awards vested		(9,375	)	$	4.04
Balance at September 30, 2016		156,925		$	3.97