NOTES PAYABLE (Tables)

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Schedule of net carrying amount of debt

The net carrying amount of the Notes consists of the following (in thousands):

	As of December 31,
	2015			2014
Aggregate principle amount of Notes	$	46,000		$	46,000
Unamortized debt discount	(2,098		)	(2,712		)
	$	43,902		$	43,288

Schedule of fair value of warrants

The Company calculated the fair value of the warrants using the Binomial Lattice pricing model using the following assumptions as of the grant date of the Warrants:

Risk free rate	1.62		%
Expected volatility	85		%
Expected life (in years), represents the weighted average period until next liquidity event	0.36
Expected dividend yield	—
Exercise Price	$	12.76