STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2016

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

Schedule of weighted average assumptions used to estimate fair value of each service-based stock option grant

The fair value of each service-based stock option grant for the reported periods is estimated on the date of the grant using the Black-Scholes option-pricing model using the weighted average assumptions noted in the following table.

	Nine Months Ended September 30,
Service-Based Stock Options	2016		2015
Expected dividend rate	—	%	—	%
Expected stock price volatility	78.7 – 92.2%		77.6 – 88.1%
Risk-free interest rate	1.1 – 1.8%		1.5 – 2.0%
Expected life (years)	5.5 – 6.3		5.5 – 6.3

Summary of activity for service-based stock options

The following table summarizes the activity for service-based stock options for the indicated periods:

Service-Based Stock Options	Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Outstanding at December 31, 2015	2,523,400	$	6.36	8.7	$	5,000
Granted	1,086,030	$	3.02
Exercised	39,231	$	3.06		$	76,827
Expired	79,963	$	34.98
Forfeited	126,631	$	3.80
Outstanding at September 30, 2016	3,363,605	$	4.73	8.4	$	471,219
Exercisable at September 30, 2016	1,129,664	$	7.83	7.8	$	49,148