Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2017

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 September 30, 2017 and December 31, 2016:

	September 30, 2017
($ in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	8,949	$	—	$	—	$	8,949
Total Assets	$	8,949	$	—	$	—	$	8,949
Liabilities:
Warrant liability	$	—	$	—	$	10,735	$	10,735
Derivative liability	—		—		1,442		1,442
Total Liabilities	$	—	$	—	$	12,177	$	12,177

	December 31, 2016
($ in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	17,515	$	—	$	—	$	17,515
Total Assets	$	17,515	$	—	$	—	$	17,515
Liabilities:
Warrant liability	$	—	$	—	$	6,034	$	6,034
Derivative liability	—		—		1,735		1,735
Total Liabilities	$	—	$	—	$	7,769	$	7,769

Reconciliation of Liabilities 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) was as follows:

	Warrant
($ in thousands)	Liability
Balance at December 31, 2016	$	6,034
Exercise of warrants	(41		)
Change in fair value of warrant liability	4,742
Balance at September 30, 2017	$	10,735

The reconciliation of the derivative liability measured at fair value on a recurring basis using unobservable inputs (Level 3) was as follows:

	Derivative
($ in thousands)	Liability
Balance at December 31, 2016	$	1,735
Derivative liability to equity upon note conversions	(6		)
Change in fair value of derivative liability	(287		)
Balance at September 30, 2017	$	1,442