Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2016

Fair Value of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table sets forth the Company’s financial assets and liabilities measured at fair value on a recurring basis (in thousands):

	June 30, 2016
	Fair Value Measured Using
	(Level 1)		(Level 2)		(Level 3)		Total Balance
Assets
Money market funds	$	14,034	$	—	$	—	$	14,034
Liabilities
Contingent consideration	$	—	$	—	$	638	$	638
Warrants to purchase common stock		—		—		8,122		8,122
Total liabilities	$	—	$	—	$	8,760	$	8,760

	December 31, 2015
	Fair Value Measured Using
	(Level 1)		(Level 2)		(Level 3)		Total Balance
Assets
Money market funds	$	28,774	$	—	$	—	$	28,774
Liabilities
Contingent consideration	$	—	$	—	$	948	$	948

Summary of Issuances, Changes in Fair Value and Reclassifications of Level 3 Financial Instruments

The following table presents the issuances, changes in fair value and reclassifications of the Company’s Level 3 financial instruments that are measured at fair value on a recurring basis (in thousands):

	(Level 3)
	Contingent Consideration Liability			Warrants to Purchase Common Stock		Total
Balance as of December 31, 2014	$	1,074		$	—	$	1,074
Change in estimated fair value		(126	)		—		(126	)
Balance as of December 31, 2015		948			—		948
Warrants issued in conjunction with Private Placement and Subsequent Financing and Placement Agent Warrants on April 14, 2016 and June 15, 2016, respectively		—			4,957		4,957
Change in estimated fair value		(310	)		3,165		2,855
Balance as of June 30, 2016	$	638		$	8,122	$	8,760