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FAIR VALUE MEASUREMENTS (Tables)
 9 Months Ended
Sep. 30, 2017
FAIR VALUE MEASUREMENTS [Abstract]  
Fair values by input hierarchy of items measured at fair value on a recurring basis
The following tables summarize the fair values by input hierarchy of items measured at fair value on a recurring basis on our condensed consolidated balance sheets (in thousands).
 
  
Level 1
  
Level 2
  
Level 3
  
Total
 
Total liabilities at fair value, as of September 30, 2017 - derivative warrant liabilities
 
$
-
  
$
-
  
$
769
  
$
769
 
Total liabilities at fair value, as of December 31, 2016 - derivative warrant liabilities
 
$
-
  
$
-
  
$
1,527
  
$
1,527
 
Additional assumptions used to calculate fair value
Additional assumptions that were used to calculate fair value follow.
 
  
September 30, 2017
  
December 31, 2016
 
Risk-free interest rate
  
1.2%
  
0.6% -1.9%
  
(1.2% weighted average)
  
(1.6% weighted average)
 
Expected volatility
  
67%-72%
  
64%
 
  
(71% weighted average)
  
(64% weighted average)
 
Changes in level 3 items measured at fair value
The following tables summarize the changes in Level 3 items measured at fair value on a recurring basis (in thousands):
 
Total Level 3 Fair Value
 
Fair Value
as of
Beginning of
Period
  
Total
Realized and
Unrealized
Gains
(Losses)
  
Issuance of
New
Instruments
  
Reclassify to
(Deficit)
Equity
  
Conversion
to Common
Stock
  
Fair Value,
at End of
Period
 
     
(1)
            
Nine Months Ended September 30, 2017, derivative warrant liabilities
 
$
(1,527
)
 
$
808
  
$
(7,917
)
 
$
7,851
  
$
16
  
$
(769
)
Nine Months Ended September 30, 2016, derivative warrant liabilities
 
$
(678
)
 
$
314
  
$
(2,474
)
 
$
-
  
$
-
  
$
(2,838
)
 
(1)
Included in change in fair value of derivative warrant liabilities in our consolidated statements of operations.