Derivative Financial Instruments - Warrants (Tables) - Black Scholes Option Pricing Method

3 Months Ended

Mar. 31, 2016

Schedule of Assumptions Used to Determine the Fair Value of the Warrants

The assumptions used to determine the Black-Scholes fair value of the warrants during the periods indicated were:



	Three Months Ended March 31,
	2016		2015
Estimated fair value of Trovagene common stock	4.65		6.81
Expected warrant term	2.75 years		3.75 years
Risk-free interest rate	0.87	%	0.89	%
Expected volatility	81.8	%	75.4	%
Dividend yield	0	%	0	%

Schedule of Components of Changes in the Company’s Derivative Financial Instruments Liability Balance

The following table sets forth the components of changes in the Company’s derivative financial instruments liability balance, valued using the Black-Scholes option pricing method, for the periods indicated.



Date	Description	Warrants	Derivative Instrument Liability
December 31, 2015	Balance of derivative financial instruments liability	967,297	$	3,297,077
	Change in fair value of warrants during the period recognized as a gain in the condensed consolidated statement of operations	—	(533,750		)
March 31, 2016	Balance of derivative financial instruments liability	967,297	$	2,763,327