FAIR VALUE OF ASSETS AND LIABILITIES (Tables)

9 Months Ended

Sep. 30, 2016

FAIR VALUE OF ASSETS AND LIABILITIES

Summary of assets and liabilities measured at fair value on a recurring basis

Assets and liabilities measured at fair value on a recurring basis are summarized below (in thousands):

	At September 30, 2016
	Level 1		Level 2		Level 3		Fair Value
Cash equivalents	$	37,672	$	—	$	—	$	37,672
Derivative warrant liability	$	—	$	2,695	$	—	$	2,695

	At December 31, 2015
	Level 1		Level 2		Level 3		Fair Value
Cash equivalents	$	20,078	$	—	$	—	$	20,078
Derivative warrant liability	$	—	$	1,907	$	—	$	1,907