INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2014

INCOME TAXES

Schedule of significant components of net deferred tax asset

	December 31,
	2014			2013
Net operating loss carryforward	$	22,490		$	16,032
Research and development credit carryforward		801			625
Stock-based compensation		2,265			2,411
Depreciation and amortization		(124	)		(149	)
Accrued expenses		226			449
Charitable contributions		112			112
Subtotal		25,770			19,480
Valuation allowance		(25,770	)		(19,480	)
Net deferred taxes	$	—		$	—

Schedule of income tax benefits computed using the federal statutory income tax rate differs from effective tax rate

	December 31,
	2014			2013			2012
Statutory rate		(34.0	)%		(34.0	)%		34.0	%
State taxes, net of benefit		(4.8	)%		(2.6	)%		(14.2	)%
Permanent differences:
Derivative losses		0.7	%		17.1	%		(127.4	)%
Other		2.6	%		0.0	%		(1.9	)%
R&D tax credit		(1.0	)%		(0.4	)%		7.0	%
True up, past year		2.2	%		0.0	%		0.0	%
Increase in valuation reserve		34.3	%		19.9	%		102.5	%
Effective tax rate		0.0	%		0.0	%		0.0	%