Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2015

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

Summary of Share-Based Compensation Expense

Total stock-based compensation expense, net of estimated forfeitures, recognized using the straight-line attribution method in the condensed consolidated statements of operations is as follows:

	Three months ended September 30,				Nine months ended September 30,
($ in thousands)	2015		2014		2015		2014
Stock-based compensation expense for employees and directors	$	506	$	266	$	1,550	$	1,002
Equity awards for non-employees issued for services	—		—		—		3
Total stock-based compensation expense	$	506	$	266	$	1,550	$	1,005

Summary of Stock Option Activity

The following table summarizes stock option activity for the nine months ended September 30, 2015:

($ in thousands except share and per share data)	Number of shares		Weighted- average exercise price		Weighted-average remaining contractual term	Aggregate intrinsic value
Outstanding at December 31, 2014	2,086,450		$	7.43	8 years	$	—
Granted	1,352,114		4.48
Exercised	(56,250	)	4.53
Forfeited	(178,970	)	5.63
Expired	(12,000	)	10.50
Outstanding at September 30, 2015	3,191,344		$	6.32	8 years, 1 month	$	602
Exercisable at September 30, 2015	1,469,897		$	8.81	7 years	$	189

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 nine months ended as of the dates indicated:

	September 30, 2015		September 30, 2014
Expected life	6 years, 1 month		5 years, 11 months
Interest rate	1.56	%	1.91	%
Dividend yield	—		—
Volatility	103.2	%	70.3	%