Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2016

Stock-Based Compensation Expense. The following table sets forth the Company’s stock-based compensation expense (in thousands).

	Year Ended December 31,
	2016		2015		2014
Stock options and ESPP awards
Research and development	$	62	$	131	$	303
Selling, general and administrative		321		401		837

Restricted stock awards
Research and development		116		576		487
Selling, general and administrative		143		1,467		1,233

Restricted stock units
Research and development		28		10		-
Selling, general and administrative		216		62		-

Total stock-based compensation	$	886	$	2,647	$	2,860

Weighted-Average Assumptions Used to Estimate Fair Values for Stock Options Granted Using Black-Scholes Option Pricing Model

Determining Fair Value of Share-Based Payment Awards. The following table sets forth the Black-Scholes option pricing model assumptions and resulting grant date fair value for stock options granted.

	Year Ended December 31,
	2016			2015			2014
Risk-free interest rate		1.49	%		1.62	%		1.74	%
Expected dividend yield	None			None			None
Expected volatility factor		106.70	%		106.89	%		71.13	%
Expected option life (in years)		5.77			5.77			5.75
Weighted average grant date fair value	$	5.66		$	35.40		$	267.00

Stock Option Award Activity

Stock Option Award Activity. Stock option activity under the Company’s option plans at December 31, 2016 and changes during the year ended December 31, 2016 were as follows.

						Weighted-
						Average
				Weighted-		Remaining
				Average		Contractual
	Number of			Exercise		Term		Aggregate
	Options			Price		(years)		Intrinsic Value
Options outstanding at December 31, 2015		24,089		$	535.80			$	-
Granted		1,250			5.66
Canceled or forfeited		(8,424	)		951.23
Exercised		-			-
Options outstanding at December 31, 2016		16,915		$	289.73		7.54	$	-

Options exercisable at December 31, 2016		9,095		$	504.80		6.61	$	-

Options vested and expected to vest at December 31, 2016		16,915		$	289.73		7.54	$	-

Summary of Information Associated with Outstanding and Exercisable Stock Options

The following table summarizes information associated with outstanding and exercisable stock options at December 31, 2016.

	Options Outstanding						Options Exercisable
					Weighted-						Weighted-
					Average				Weighted-		Average
Range of			Weighted-		Remaining				Average		Remaining
Exercise	Number of		Average Exercise		Contractual Life		Number of		Exercise		Contractual Life
Prices	Options		Price		in Years		Options		Price		in Years
$0.00 to $51.00		14,450	$	40.62		8.61		6,630	$	41.68		8.58
$105.00 to $147.00		80	$	144.90		0.32		80	$	144.90		0.32
$264.00 to $438.00		586	$	368.79		0.44		586	$	368.87		0.44
$462.00 to $1,845.00		801	$	715.51		2.31		801	$	715.51		2.31
$2,331.00 to $3,426.00		637	$	2,938.98		0.39		637	$	2,938.98		0.39
$3,801.00 to $5,742.00		361	$	4,556.47		2.26		361	$	4,556.47		2.26
		16,915						9,095

Non-Vested Restricted Stock Awards and Changes

Non-vested restricted stock awards at December 31, 2016 and changes during the year ended December 31, 2016 were as follows.

				Weighted-
				Average
	Number of			Grant-Date
	Shares			Fair Value
Non-vested at December 31, 2015		16,413		$	54.80
Granted		-			-
Vested		(6,816	)		82.95
Canceled or forfeited		(774	)		46.16
Non-vested at December 31, 2016		8,823		$	47.51