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Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Common Stock Warrants Outstanding Table

 

 

Common Stock

Warrants

 

Outstanding, December 31, 2014

 

 

142,392

 

Outstanding, December 31, 2015

 

 

142,392

 

March 23, 2016 public offering

 

 

6,825,000

 

Exercised

 

 

(3,863,429)

 

Expired

 

 

 

Outstanding, December 31, 2016

 

 

3,103,963

 

Summary of Common Stock Warrants by Exercise Price Range

The Company has a total of 3,103,963 warrants at a weighted average price of $1.46 to purchase its common stock outstanding as of December 31, 2016. These warrants are summarized as follows:


Issuance Date

 

Number of Shares

 

Exercise Price

 

Expiration Date

3/10/2011

 

     17,392

 

$  0.48

 

3/10/2021

7/23/2013

 

   125,000

 

$12.50

 

7/23/2018

3/23/2016

 

2,961,571

 

$  1.00

 

3/23/2021

Schedule of Components of Stock-based Compensation Included in Net Loss

As of December 31, 2016, there are 2,242,534 stock options remaining available for grant under the Plans. The following table summarizes the components of the Companys stock-based compensation included in net loss:



 

 

For the years ended

 

 

 

December 31,

 

 

 

2016

 

 

2015

 

Employee stock options

 

$

527,697

 

 

$

924,343

 

Non-employee stock options

 

 

2,664

 

 

 

570,445

 

Employee stock awards

 

 

24,276

 

 

 

 

Non-employee stock awards

 

 

27,993

 

 

 

78,814

 

 

 

$

582,630

 

 

$

1,573,602

 

Schedule of Stock Option Valuation Assumptions

The fair value of each stock option is estimated on the date of grant using the Black-Scholes-Merton option pricing model with the following assumptions for stock options granted during the years ended:


 

 

December 31,

 

 

 

2016

 

 

2015

 

Dividend yield

 

 

0.0

%

 

 

0.0

%

Expected volatility

 

 

72.95-78.54

%

 

 

72.4-107.6

%

Risk-free interest rate

 

 

1.36-2.25

%

 

 

1.69-2.27

%

Expected term (years)

 

 

5.4 - 6.3

 

 

 

6.25 10

 

Schedule of Stock Option Activity

 

 

Shares

 

 

Weighted

Average

Exercise

Price

 

Outstanding, December 31, 2015

 

 

1,214,686

 

 

$

4.93

 

Granted

 

 

531,339

 

 

$

1.99

 

Exercised

 

 

 

 

$

 

Forfeited/Expired

 

 

609,272

 

 

$

4.23

 

Outstanding, December 31, 2016

 

 

1,136,753

 

 

$

3.93

 

Schedule of Options Outstanding, Vested and Exercisable

 

Options Outstanding

 

 

 

 

Options Vested and Exercisable

Balance

as of

12/31/2016

 

 

Weighted

Average

Remaining

Contractual

Life

(Years)

 

 

Weighted

Average

Exercise

Price

 

 

 

 

Balance

as of

12/31/2016

 

 

Weighted

Average

Remaining

Contractual

Life

(Years)

 

 

Weighted

Average

Exercise

Price

1,136,753

 

 

7.8

 

 

$3.93

 

 

 

 

699,334

 

 

7.0

 

 

$4.76