Stock-based Compensation (Tables)

12 Months Ended

Dec. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Assumptions Used to Determine Fair Value of Option Grants

The Company uses the Black-Scholes option-pricing model to determine the fair value of all its option grants. For valuing options granted for the years ended December 31, 2015 and 2014, the following assumptions were used:

	Year Ended December 31,
	2015			2014
Risk-free interest rate		1.47 – 2.43	%		1.60 – 2.73	%
Expected volatility		84.93 – 116.81	%		97.91 – 107.01	%
Weighted average expected volatility		89.26	%		101.52	%
Expected lives (in years)		5.20 – 10.00			5.20 – 10.00
Expected dividend yield		0.00	%		0.00	%

Summary of Stock Option Activity

The following table summarizes the activity of the Company’s stock option plan for the period from January 1, 2015 to December 31, 2015:

	Total Number of Shares			Weighted- Average Exercise Price Per Share		Weighted- Average Remaining Contractual Term		Aggregate Intrinsic Value
Balance at January 1, 2015		3,000,264		$	3.39
Granted		405,164			0.55
Exercised		—			—
Cancelled		(81,667	)		3.07
Balance at December 31, 2015		3,323,761		$	3.05		7.15 years	$	—
Exercisable at December 31, 2015		2,501,807		$	3.29		6.78 years	$	—