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Stockholders' Equity (Tables)
3 Months Ended
Mar. 31, 2017
Equity [Abstract]  
Summary of Allocated Stock-based Compensation Expense

The Company’s stock-based compensation expense is allocated between research and development and selling, general and administrative as follows:

 

     Three months ended,  

Stock-based compensation expense

   March 31,
2017
     March 31,
2016
 

Research and Development

   $ 401      $ 1,128  

Selling, General and Administrative

   $ 2,669      $ 2,983  
Weighted Average for Key Assumptions Used in Determining Fair Value of Options Granted

The weighted average for key assumptions used in determining the fair value of options granted during the three months ended March 31, 2017 follows:

 

Expected price volatility

   62.34% -79.88%

Risk-free interest rate

   1.90% - 1.94%

Weighted average expected life in years

   6 years

Dividend yield

  
Summary of Stock Option Activity

Option activity during the three months ended March 31, 2017 was as follows:

 

     Number of
Shares
     Weighted
Average
Exercise
Price
Per Share
     Aggregate
Intrinsic
Value
 

Outstanding at January 1, 2017

     3,468,991      $ 4.14     

Granted in 2017

        

Officers and Directors

     —          —       

Others

     615,155        1.87     

Exercised

     —          —       

Forfeitures

     (186,387      5.27     
  

 

 

    

 

 

    

Outstanding at March 31, 2017

     3,897,759      $ 3.73      $ 31  
  

 

 

    

 

 

    

 

 

 
Summary of Restricted Stock Activity
     Number of
Restricted
Shares
     Weighted
Average Fair
Market Value
Per RSU
 

Outstanding at January 1, 2017

     4,584,297      $ 7.29  

Granted:

     

Executive officers

     1,640,000        1.80  

Directors

     —          —    

Employees

     420,000        1.80  

Vested

     (1,207,952      2.04  

Forfeitures

     (84,000      3.14  
  

 

 

    

 

 

 

Outstanding at March 31, 2017

     5,352,345      $ 4.69  
  

 

 

    

 

 

 
Weighted Average for Key Assumptions Used in Determining Fair Value of Warrants Granted

The weighted average for key assumptions used in determining the fair value of warrants granted during the three months ended March 31, 2017 follows:

 

Expected price volatility

     78.39

Risk-free interest rate

     1.92

Weighted average expected life in years

     6 years  

Dividend yield

     —    
Summary of Warrant Activity

Warrant activity during the three months ended March 31, 2017 was as follows:

 

     Number of
Shares
     Weighted
Average
Exercise
Price
Per Share
     Aggregate
Intrinsic
Value
 

Outstanding at January 1, 2017

     84,986      $ 3.53     

Granted in 2017

     1,701,583        2.38     

Exercised

     —          —       

Forfeitures

     —          —       
  

 

 

    

 

 

    

Outstanding at March 31, 2017

     1,786,569      $ 2.43      $ —