Warrants (Tables)

3 Months Ended

Mar. 31, 2017

Equity [Abstract]

Summary of Assumptions using Black- Scholes Option Pricing Model to estimate fair value

The fair value of the 2016 Placement Warrants of $9.5 million was estimated using the Black-Scholes option pricing model and the following weighted-average assumptions:

	March 31, 2017
2016 Placement Warrant:
Expected term (in years)		6.4
Expected volatility		67.9%
Risk-free interest rate		2.2%
Expected dividend yield		0%

The fair value of the 2017 Placement Warrants of $11.8 million was estimated using the Black-Scholes option pricing model and the following weighted-average assumptions:

	March 31, 2017
2017 Placement Warrant:
Expected term (in years)		6.8
Expected volatility		67.9%
Risk-free interest rate		2.2%
Expected dividend yield		0%