Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2015

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

Summary of Share-Based Compensation Expense

Total share-based compensation expense recognized using the straight-line attribution method in the consolidated statements of operations is as follows:

	Three months ended March 31,
($ in thousands)	2015		2014
Stock option compensation expense for employees and directors	$	240	$	300
Equity awards for non-employees issued for services	—		3
Total stock-based compensation expense	$	240	$	303

Summary of Stock Option Activity

($ in thousands except share and per share data)	Number of shares		Weighted- average exercise price		Weighted-average remaining contractual term (in years)	Aggregate intrinsic value ($ in thousands)
Outstanding at December 31, 2014	2,086,450		$	7.43	8 years	$	—
Granted	830,300		4.13
Exercised	(31,250	)	4.86
Forfeited	—		—
Expired	—		—
Outstanding at March 31, 2015	2,885,500		$	6.51	8 years, 4 months	$	1,510
Exercisable at March 31, 2015	1,162,250		$	10.25	7 years, 3 months	$	349

Details of Fair Value Option Award

The fair market value of these options was computed using the Black-Scholes option-pricing model with the following key weighted average assumptions for the three months ended as of the dates indicated:

	March 31, 2015		March 31, 2014
Expected life	6 years, 2 months		6 years, 3 months
Interest rate	1.48	%	1.99	%
Dividend yield	—		—
Volatility	106.3	%	71.0	%