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Warrants (Tables)
 12 Months Ended
Dec. 31, 2015
Equity [Abstract]  
Outstanding Liability Classified Warrants to Purchase Common Stock
The following table summarizes outstanding liability-classified warrants to purchase common stock as of:
 
Number of Warrants
 
 
 
 
 
December 31, 2015
 
December 31, 2014
 
Exercise 
Price
 
Expiration Dates
Issued in Series A, B and D Preferred Stock offerings (1)
1,970,594

 
2,247,118

 
$
6.25

 
Oct 2015 - Dec 2016
Issued in March 2010 financing
319,789

 
393,416

 
$
6.25

 
Mar 2016
Issued in June 2011 financing
6,113

 
6,113

 
$
22.50

 
Jun 2016
Issued in August 2011 financing
565,759

 
565,759

 
$
18.75

 
Aug 2016
Issued to placement agents in August 2011 financing
50,123

 
50,123

 
$
13.635

 
Aug 2016
Issued in Series B, D and E Preferred Stock offerings  (2)
60,000

 
76,120

 
$
2.50

 
Nov 2015 - Dec 2017
Issued with Convertible Notes
1,125,578

 
1,125,578

 
$
2.50

 
Jun 2018
Issued in Series E Preferred Stock offering
1,568,823

 
1,568,823

 
$
7.50

 
Dec 2018
Total
5,666,779

 
6,033,050

 
 

 
 

(1)
As of December 31, 2015, all Series A warrants had expired.
(2)
As of December 31, 2015, the Series B and D warrants in this group had either been exercised or expired.
Summary of Warrant Activity
The table below is a summary of the Company's warrant activity for the year ended December 31, 2015.
 
Number of
warrants
 
Weighted average
exercise price
Outstanding at December 31, 2014
6,033,050

 
$
7.08

Granted
—

 
—

Exercised (1)
(90,947
)
 
6.20

Expired
(275,324
)
 
6.05

Outstanding at December 31, 2015
5,666,779

 
$
7.14

(1)
All warrants were exercised on a cashless basis resulting in the issuance of 11,584 shares of the Company's common stock.
Calculated Aggregate Fair Values and Net Cash Settlement Value
The following table summarizes the calculated aggregate fair values, along with the assumptions utilized in each calculation: 
($ in thousands, except per share data)
December 31,
2015
 
December 31,
2014
 
December 31,
2013
Calculated aggregate value
$
8,275

 
$
11,286

 
$
15,216

Weighted average exercise price per share of warrant
$
7.14

 
$
7.08

 
$
7.08

Closing price per share of common stock
$
4.55

 
$
2.59

 
$
4.06

Volatility
85.2
%
 
67.6
%
 
70.0
%
Weighted average remaining expected life
1 year, 8 months

 
2 years, 7 months

 
3 years, 6 months

Risk-free interest rate
0.98
%
 
0.86
%
 
1.20
%
Dividend yield
—
%
 
—
%
 
—
%