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Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2015
Fair Value Disclosures [Abstract]  
Company's Financial Assets and Liability Measured at Fair Value on a Recurring Basis
The following fair value hierarchy table presents information about each major category of the Company’s financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2015 and 2014:
 
December 31, 2015
($ in thousands) 
Level 1
 
Level 2
 
Level 3
 
Total
Assets:
 

 
 

 
 

 
 

Cash and cash equivalents
$
29,268

 
$
—

 
$
—

 
$
29,268

Liabilities:
 

 
 

 
 

 
 

Warrant liability, current and long term
$
—

 
$
—

 
$
8,275

 
$
8,275

 
December 31, 2014
($ in thousands) 
Level 1
 
Level 2
 
Level 3
 
Total
Assets:
 

 
 

 
 

 
 

Cash and cash equivalents
$
37,495

 
$
—

 
$
—

 
$
37,495

Liabilities:
 

 
 

 
 

 
 

Warrant liability, current and long term
$
—

 
$
—

 
$
11,286

 
$
11,286
Warrant liability  
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]  
Reconciliation of Warrant Liability Measured at Fair Value on Recurring Basis
The reconciliation of the Company's warrant liability measured at fair value on a recurring basis using unobservable inputs (Level 3) is as follows:
($ in thousands)
Warrant Liability
Balance at December 31, 2012
$
14,515

Exercise of warrants
(352
)
Cancellation of warrants
(41
)
Change in fair value of warrant liability
1,094

Balance at December 31, 2013
$
15,216

Change in fair value of warrant liability
(3,930
)
Balance at December 31, 2014
$
11,286

Exercise of warrants (1)
(82
)
Expiration of warrants (2)
(276
)
Change in fair value of warrant liability
(2,653
)
Balance at December 31, 2015
$
8,275


(1)
Warrants were exercised under the cashless exercise method pursuant to the corresponding warrant agreements. As a result of such exercises, the Company issued 11,584 shares of common stock. Consequently, these instruments were no longer classified as liabilities. These common stock warrants were remeasured to their fair value as of the exercise date with the change in fair value recorded to the Consolidated Statement of Operations. The fair value related to the shares issued in connection with the exercised warrants was reclassified from a liability to additional paid-in capital in the Consolidated Balance Sheets.
(2)
Represents the fair value as of the beginning of the year for warrants expiring during the year and has been recorded to the Consolidated Statement of Operations for the year ended December 31, 2015.