Stock Incentive Plans (Tables)

12 Months Ended

Dec. 31, 2016

Summary of Activity of Stock Incentive and Equity Plans

The following table summarizes the activity of the stock incentive and equity plans:

	Shares available for grant			Number of options outstanding			Weighted- average option exercise price		Number of restricted stock shares issued			Number of restricted stock units outstanding
Outstanding at January 1, 2015		1,772,529			2,238,286		$	10.31		140,653			134,731
Granted		(1,457,826	)		992,684			1.40		60,802			404,340
Exercised		—			(5,692	)		0.78		—			(29,432	)
Canceled/forfeited		417,567			(373,710	)		10.02		—			(55,618	)
Outstanding at December 31, 2015		732,270			2,851,568			7.07		201,455			454,021
Authorized		1,900,000
Granted		(1,537,692	)		943,620			0.63		594,072			—
Exercised/issued		—			—			—		—			(133,685	)
Canceled/forfeited		1,337,606			(1,259,783	)		8.96		(30,701	)		(194,497	)
Outstanding at December 31, 2016		2,432,184			2,535,405		$	3.73		764,826			125,839

Intrinsic Value Calculated Based on Grant Date Fair Value

The following table sets forth option grants made during 2016 and 2015 with intrinsic value calculated based on grant date fair value. 

Date of grant	Number of options granted		Exercise price		Intrinsic value per share
March – July 2015		92,600	$	2.43 - $4.04		—
September – December 2015		900,084	$	1.00 - $1.35		—
January – April 2016		51,120	$	0.73 - $1.14		—
September 2016		892,500	$	0.61		—

Exercise Prices of Outstanding Options

At December 31, 2016, the exercise prices of outstanding options were as follows: 

Exercise price	Number of options outstanding		Average remaining contractual life (years)		Number of options exercisable
$  0.61 - $  0.73		874,250		9.74		—
$  1.00 - $  1.35		725,019		8.86		196,438
$  2.43 - $  5.20		548,439		5.90		467,564
$  6.11 - $12.16		206,692		2.89		200,567
$15.00 - $19.49		132,476		2.85		132,476
$20.20 - $32.67		48,529		3.76		48,529
		2,535,405		7.62		1,045,574

Summary of Non-vested Options

The following table summarizes the activity of non-vested options:

	Non-vested options			Weighted- average option exercise price
Non-vested at January 1, 2015		628,733		$	5.93
Granted		992,684			1.40
Vested		(200,402	)		6.64
Cancelled		(169,054	)		5.86
Non-vested at December 31, 2015		1,251,961			2.23
Granted		943,620			0.63
Vested		(330,115	)		2.81
Cancelled		(375,635	)		2.51
Non-vested at December 31, 2016		1,489,831		$	1.02

Schedule for Estimated Fair Value at Date of Option Grant Using Black Scholes Option Pricing Model

For the years ended December 31, 2016 and 2015, the assumptions used for the estimated fair value at the date of option grant using the Black-Scholes option-pricing model were as follows:

	2016	2015
Weighted average fair value per share of option	$0.63	$1.40
Expected term	5.1 years	5.5 years
Risk free interest rate	1.24% - 1.73%	1.41% - 1.70%
Volatility	65%	65%
Dividend yield	None	None
Forfeiture rate	23.1%	18.56%

Restricted Stock Units [Member]

Analysis of Restricted Stock Units Issued

A summary of the Company’s RSUs is as follows:

	RSUs outstanding			Weighted average price at time of grant		Aggregate intrinsic value
Non-vested restricted stock units as of January 1, 2015		134,731		$	5.41
Granted		404,340			1.48
Vested		(29,432	)		5.44
Cancelled		(55,618	)		5.37
Non-vested restricted stock units as of December 31, 2015		454,021			1.92
Granted		—			—
Vested		(133,685	)		1.60
Cancelled		(194,497	)		2.35
Non-vested at December 31, 2016		125,839		$	1.60	$	75,503

Restricted Stock [Member]

Analysis of Restricted Stock Units Issued

An analysis of restricted stock issued is as follows:

Non-vested restricted stock as of January 1, 2015	12,207
Granted	60,802
Vested	(57,809	)
Non-vested restricted stock as of December 31, 2015	15,200
Granted	594,072
Vested	(413,870	)
Cancelled/Forfeited	(30,701	)
Non-vested restricted stock as of December 31, 2016	164,701