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Fair Value of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2016
Fair Value Disclosures [Abstract]  
Schedule of Fair Value of Financial Liabilities

The 2016 Placement Warrants were issued in August and September 2016 and were outstanding at December 2016. The following table sets forth the fair value of the Company’s financial liabilities by level within the fair value hierarchy (in thousands):

 

 

 

At December 31, 2016

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

2016 Placement Warrants Liability

 

$

 

 

$

 

 

$

2,723

 

 

$

2,723

 

 

Summary of Changes in Fair Value of Level 3 Financial Liabilities

The following table sets forth a summary of the changes in the fair value of the Company’s Level 3 financial liabilities (in thousands):

 

 

 

Year Ended December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

Fair value, beginning of period

 

$

 

 

$

138

 

 

$

158

 

Issuance of 2016 Placement Warrants

 

 

2,726

 

 

 

 

 

 

 

Change in fair value of Level 3 financial

   liabilities

 

 

(3

)

 

 

(45

)

 

 

(20

)

Conversion of convertible preferred stock

   warrants to common stock warrants

 

 

 

 

 

(93

)

 

 

 

Fair value, end of period

 

$

2,723

 

 

$

 

 

$

138