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Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2017
Stockholders' Equity Note [Abstract]  
Common Stock Warrants Outstanding

The Company has a total of 310,397 warrants outstanding at a weighted average exercise price of $14.60 to purchase its common stock as of December 31, 2017. These warrants are summarized as follows:


Issuance Date

 

Number of Shares

 

Exercise Price

 

Expiration Date

3/10/2011

 

    1,738

 

$    4.80

 

3/10/2021

7/23/2013

 

  12,500

 

$125.00

 

7/23/2018

3/23/2016

 

296,159

 

$  10.00

 

3/23/2021

Summary of Common Stock Warrants by Exercise Price Range

The following table summarizes the warrant activity of the Company’s common stock warrants:


 

 

Common Stock

Warrants

 

Outstanding, December 31, 2015

 

 

14,238

 

March 23, 2016 public offering

 

 

682,500

 

Exercised

 

 

(386,341

)

Expired

 

 

 

Outstanding, December 31, 2016

 

 

310,397

 

Exercised

 

 

 

Expired

 

 

 

Outstanding, December 31, 2017

 

 

310,397

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

There are 553,196 stock options remaining available for grant under the Plans. The following table summarizes the components of the Company’s stock-based compensation included in net loss:


 

 

For the years ended

 

 

 

December 31,

 

 

 

2017

 

 

2016

 

Employee stock options

 

$

474,251

 

 

$

527,697

 

Non-employee stock options

 

 

14,362

 

 

 

2,664

 

Employee stock awards

 

 

169,517

 

 

 

24,276

 

Non-employee stock awards

 

 

31,000

 

 

 

27,993

 

 

 

$

689,130

 

 

$

582,630

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,

 

 

 

2017

 

 

2016

 

Dividend yield

 

 

0.0

%

 

 

0.0

%

Expected volatility

 

 

76.35-79.08

%

 

 

72.95-78.54

%

Risk-free interest rate

 

 

1.86-2.26

%

 

 

1.36-2.25

%

Expected term (years)

 

 

5.8-7.8

 

 

 

5.4 - 6.3

Schedule of Stock Option Activity

The following tables summarize the stock option activity for the year ended December 31, 2017:


 

 

Shares

 

 

Weighted

Average

Exercise

Price

 

Outstanding, December 31, 2016

 

 

113,672

 

 

$

39.32

 

Granted

 

 

190,151

 

 

$

7.88

 

Exercised

 

 

 

 

$

 

Forfeited/Expired

 

 

(37,013

)

 

$

20.18

 

Outstanding, December 31, 2017

 

 

266,810

 

 

$

19.57

Schedule of Options Outstanding, Vested and Exercisable

The following table summarizes information about stock options outstanding at December 31, 2017:


Options Outstanding

 

 

 

 

Options Vested and Exercisable

Balance

as of

12/31/2017

 

 

Weighted

Average

Remaining

Contractual

Life

(Years)

 

 

Weighted

Average

Exercise

Price

 

 

 

 

Balance

as of

12/31/2017

 

 

Weighted

Average

Remaining

Contractual

Life

(Years)

 

 

Weighted

Average

Exercise

Price

266,810

 

 

7.97

 

 

$19.57

 

 

 

 

105,102

 

 

6.07

 

 

$36.28