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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Assumptions used in Black-Scholes Pricing Model for New Grants

The fair value of each stock option granted is estimated on the date of grant using the Black-Scholes option-pricing model using the assumptions noted in the following table:

 

 

 

Years Ended December 31,

 

 

 

2015

 

 

2014

 

 

2013

 

Volatility

 

73.04%-78.7%

 

 

69.38%-77.92%

 

 

64.22%-72.65%

 

Expected Term (in years)

 

5.50-6.25

 

 

5.50-6.25

 

 

5.50-6.25

 

Risk-Free Interest Rates

 

1.54%-1.93%

 

 

1.81%-2.02%

 

 

1.01%-2.10%

 

Dividend Yield

 

 

 

 

 

 

 

Stock Option Activity

The following table summarizes the activity of the Plans for the year ended December 31, 2015:

 

 

 

Number of

Options

 

 

Weighted-

Average

Exercise

Price

 

 

Weighted-

Average

Remaining

Contractual

Life

(in years)

 

 

Aggregate

Intrinsic

Value

 

Outstanding at December 31, 2014

 

 

5,817,313

 

 

$

4.45

 

 

 

 

 

 

 

 

 

Granted

 

 

3,159,134

 

 

$

1.11

 

 

 

 

 

 

 

 

 

Exercised

 

 

(165,805

)

 

$

1.45

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(2,964,938

)

 

$

1.85

 

 

 

 

 

 

 

 

 

Expired

 

 

(1,049,699

)

 

$

5.27

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2015

 

 

4,796,005

 

 

$

3.78

 

 

 

6.93

 

 

$

596,660

 

Exercisable at December 31, 2015

 

 

3,153,440

 

 

$

5.09

 

 

 

5.86

 

 

$

325,107

 

Vested or expected to vest at December 31, 2015

 

 

2,276,447

 

 

$

6.56

 

 

 

4.61

 

 

$

115,704

 

 

Restricted Stock Activity

The following table summarizes the restricted stock activity for the year ended December 31, 2015:

 

 

 

Number of Shares

 

 

Weighted-

Average

Price

 

Unvested at December 31, 2014

 

 

477,600

 

 

$

1.81

 

Granted

 

 

 

 

 

 

Cancelled

 

 

(201,180

)

 

 

1.87

 

Expired

 

 

 

 

 

 

Vested/Released

 

 

(233,670

)

 

 

1.80

 

Unvested at December 31, 2015

 

 

42,750

 

 

$

1.61