Warrants	6 Months Ended
Jun. 30, 2016
Warrants	14. Warrants In May 2016, the Company sold in a registered offering an aggregate of 48,543,687 shares of common stock together with A Warrants exercisable for up to an aggregate of 36,407,765 shares of common stock and B Warrants exercisable for up to an aggregate of 12,135,921 shares of common stock with a total fair value of $44.7 million. Each of the warrants has an exercise price of $1.50 per share. The A Warrants became exercisable upon issuance and will expire two years thereafter. The B Warrants will become exercisable beginning in May 2017 and will expire 30 months after the date of issuance. The shares of common stock and the warrants are immediately separable and issued separately. There have been no warrants exercised as of June 30, 2016. The Company evaluated the A Warrants and B Warrants to determine the appropriate classification. The Company determined that the A Warrants require liability classification primarily due to a price-protection clause if certain dilutive financing occurs. The fair value of the A Warrants was recorded as warrant liability in the condensed consolidated balance sheet at issuance and is adjusted to fair value at each reporting period until exercise or expiration. The Company determined that the B Warrants met the criteria for equity classification and has accounted for such warrants in additional paid in capital. As of May 12, 2016 and June 30, 2016, the fair value of the A Warrants liability was $12.8 million and $18.1 million, respectively, and was estimated using a Monte Carlo valuation pricing model. The Company recognized a loss of $5.3 million to reflect the fair value adjustment of the A Warrant liability from the date of issuance, May 12, 2016 to June 30, 2016. As of May 12, 2016 the fair value of the B Warrants at issuance was $5.0 million.

Warrants

6 Months Ended

Jun. 30, 2016

14. Warrants

In May 2016, the Company sold in a registered offering an aggregate of 48,543,687 shares of common stock together with A Warrants exercisable for up to an aggregate of 36,407,765 shares of common stock and B Warrants exercisable for up to an aggregate of 12,135,921 shares of common stock with a total fair value of $44.7 million. Each of the warrants has an exercise price of $1.50 per share. The A Warrants became exercisable upon issuance and will expire two years thereafter. The B Warrants will become exercisable beginning in May 2017 and will expire 30 months after the date of issuance. The shares of common stock and the warrants are immediately separable and issued separately. There have been no warrants exercised as of June 30, 2016.

The Company evaluated the A Warrants and B Warrants to determine the appropriate classification. The Company determined that the A Warrants require liability classification primarily due to a price-protection clause if certain dilutive financing occurs. The fair value of the A Warrants was recorded as warrant liability in the condensed consolidated balance sheet at issuance and is adjusted to fair value at each reporting period until exercise or expiration. The Company determined that the B Warrants met the criteria for equity classification and has accounted for such warrants in additional paid in capital.

As of May 12, 2016 and June 30, 2016, the fair value of the A Warrants liability was $12.8 million and $18.1 million, respectively, and was estimated using a Monte Carlo valuation pricing model. The Company recognized a loss of $5.3 million to reflect the fair value adjustment of the A Warrant liability from the date of issuance, May 12, 2016 to June 30, 2016. As of May 12, 2016 the fair value of the B Warrants at issuance was $5.0 million.