SHARE BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2017

SHARE BASED COMPENSATION [Abstract]

Allocated share-based compensation expense

The following table summarizes share-based compensation related to stock options for the three and six months ended June 30:

	Three Months Ended  June 30,				Six Months Ended  June 30,
	2017		2016		2017		2016
Research and development	$	1,682	$	323	$	3,345	$	8,993
Selling, general and administrative		2,691		17,825		5,352		37,022
Total share-based compensation expense	$	4,373	$	18,148	$	8,697	$	46,015

Stock option activity

The following table summarizes the stock options outstanding and the number of shares of Common Stock subject to exercise as of June 30, 2017 and the changes therein during the six months then ended:

	Stock Options			Weighted Average Exercise Price per Share
Outstanding as of December 31, 2016		691,237		$	1.94
Granted		---			---
Forfeited/cancelled		(463,834	)	$	1.16
Exercised		---			---
Outstanding as of June 30, 2017		227,403		$	3.54

Stock option grants outstanding and exercisable

The following table presents the stock option grants outstanding and exercisable as of June 30, 2017:

Options Outstanding						Options Exercisable
Stock Options Outstanding		Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Life in Years		Stock Options Exercisable		Weighted Average Exercise Price per Share
	140,000	$	0.33		5.7		140,000	$	0.33
	65,000		1.15		7.2		65,000		1.15
	22,403		30.48		0.8		22,403		30.48
	227,403	$	3.54		5.7		227,403	$	3.54