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Stock-based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2013
Estimated Weighted Average Grant Date Fair Value per Share | The Company granted options and awards for 1,160,535 and 5,833 shares of common stock in the years ended December 31, 2013 and 2012, respectively. The fair values of the majority of employee stock options granted in the years ended December 31, 2013 and 2012 were estimated at the date of grant using the Black-Scholes model with the following assumptions and had the following estimated weighted average grant date fair value per share:
|  | Years Ended December 31, |
|  | 2013 |  |  | 2012 |
Expected term |  |  | 5.8 years |  |  |  | 5.3 years |
Expected volatility |  |  | 96 | % |  |  | 108 | %
Risk-free interest rate |  |  | 1.62 | % |  |  | 0.15 | %
Expected dividend yield |  |  | 0 | % |  |  | 0 | %
Weighted-average grant date fair value per share |  | $ | 1.05 |  |  | $ | 4.68 |
Summary of Stock Option Activities | A summary of ARCA’s stock option activities for the years ended December 31, 2013 and 2012, and related information as of December 31, 2013, is as follows:
|  | For the years ended December 31, |
|  | 2013 |  |  | 2012 |
|  | Number of Options |  |  | Weighted Average Exercise Price |  |  | Number of Options |  |  | Weighted Average Exercise Price |
Options outstanding, beginning of period |  |  | 144,019 |  |  | $ | 18.28 |  |  |  | 144,039 |  |  | $ | 19.20 |
Granted |  |  | 741,535 |  |  |  | 1.38 |  |  |  | 5,833 |  |  |  | 6.00 |
Exercised |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Forfeited and cancelled |  |  | (42,112 | ) |  |  | 11.62 |  |  |  | (5,853 | ) |  |  | 27.96 |
Options outstanding, end of period |  |  | 843,442 |  |  | $ | 3.76 |  |  |  | 144,019 |  |  | $ | 18.28 |
Options exercisable, end of period |  |  | 194,550 |  |  | $ | 11.14 |  |  |  | 125,666 |  |  | $ | 18.77 |
Options vested and expected to vest |  |  | 832,941 |  |  | $ | 3.78 |  |  |  |  |  |  |  |  |
Summary of Stock Options Outstanding and Exercisable | The following table summarizes information about stock options outstanding and exercisable as of December 31, 2013:
|  |  |  |  |  |  |  |  | Options Outstanding |  |  | Options Exercisable |
Range of Exercise Prices |  |  | Number Outstanding |  |  | Weighted Average Remaining Contractual Term (in years) |  |  | Weighted Average Exercise Price |  |  | Number Exercisable |  |  | Weighted Average Exercise Price |
$ | 0.36 |  |  | — |  |  | $ | 1.33 |  |  |  | 1,433 |  |  |  | 8.56 |  |  | $ | 1.21 |  |  |  | 286 |  |  | $ | 0.71 |
| 1.38 |  |  | — |  |  |  | 1.38 |  |  |  | 727,869 |  |  |  | 9.46 |  |  |  | 1.38 |  |  |  | 98,233 |  |  |  | 1.38 |
| 1.40 |  |  | — |  |  |  | 22.98 |  |  |  | 96,465 |  |  |  | 5.85 |  |  |  | 12.04 |  |  |  | 78,356 |  |  |  | 13.18 |
| 22.98 |  |  | — |  |  |  | 33.42 |  |  |  | 17,168 |  |  |  | 4.42 |  |  |  | 32.78 |  |  |  | 17,168 |  |  |  | 32.78 |
| 33.42 |  |  | — |  |  |  | 440.40 |  |  |  | 250 |  |  |  | 0.33 |  |  |  | 263.94 |  |  |  | 250 |  |  |  | 263.94 |
| 440.40 |  |  | — |  |  |  | 1,908.00 |  |  |  | 257 |  |  |  | 0.30 |  |  |  | 1,443.56 |  |  |  | 257 |  |  |  | 1,443.56 |
|  |  |  |  |  |  |  |  |  |  |  | 843,442 |  |  |  | 8.94 |  |  | $ | 3.76 |  |  |  | 194,550 |  |  | $ | 11.14 |
Summary of RSU activity | A summary of RSU activity for the year ended December 31, 2013 is presented below:
Restricted Stock Awards |  | Number of Shares |  |  | Weighted- Average Grant Date Fair Value |
Unvested RSUs at December 31, 2012 |  | — |  |  | $ | — |
Granted |  | 419,000 |  |  |  | 1.39 |
Vested |  | — |  |  |  | — |
Forfeited and cancelled |  | — |  |  |  | — |
Unvested RSUs at December 31, 2013 |  | 419,000 |  |  | $ | 1.39 |
Non-Cash, Share-Based Compensation Expense | For the years ended December 31, 2013 and 2012 and for the period from Inception through December 31, 2013, the Company recognized the following non-cash, share-based compensation expense (in thousands):
|  | Years Ended December 31, |  |  | Period from December 17, 2001 (date of inception) to December 31, |
|  | 2013 |  |  | 2012 |  |  | 2013 |
Research and Development |  | $ | 77 |  |  | $ | 94 |  |  | $ | 667 |
Selling, General and Administrative |  |  | 206 |  |  |  | 212 |  |  |  | 1,817 |
Restructuring Expense |  |  | — |  |  |  | — |  |  |  | 387 |
Total |  | $ | 283 |  |  | $ | 306 |  |  | $ | 2,871 |

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