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Share-based Compensation (Tables)

12 Months Ended

Dec. 31, 2014

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Estimated Weighted Average Grant Date Fair Value per Share

The Company granted options and awards for 420,279 and 1,160,535 shares of common stock in the years ended December 31, 2014 and 2013, respectively. The fair values of the majority of employee stock options granted in the years ended December 31, 2014 and 2013 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,
	2014			2013
Expected term	5.9 years			5.8 years
Expected volatility		94	%		96	%
Risk-free interest rate		1.53	%		1.62	%
Expected dividend yield		0	%		0	%
Weighted-average grant date fair value per share	$	1.37		$	1.05

Summary of Stock Option and Stock Award Activities

A summary of ARCA’s stock option and stock award activities for the years ended December 31, 2014 and 2013, and related information as of December 31, 2014, is as follows:

	Years Ended December 31,
	2014					2013
	Number of Options			Weighted Average Exercise Price		Number of Options			Weighted Average Exercise Price
Options outstanding, beginning of period		843,442		$	3.76		144,019		$	18.28
Granted		228,579			1.81		741,535			1.38
Exercised		—			—		—			—
Forfeited and cancelled		(3,506	)		140.67		(42,112	)		11.62
Options outstanding, end of period		1,068,515		$	2.89		843,442		$	3.76
Options exercisable, end of period		494,291		$	4.38		194,550		$	11.14
Options vested and expected to vest		1,066,712		$	2.89

Summary of Stock Options Outstanding and Exercisable

The following table summarizes information about stock options outstanding and exercisable as of December 31, 2014:

					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		29,933		9.75	$	1.05		704	$	1.08
	1.38	—		1.38		727,869		8.47		1.38		329,189		1.38
	1.40	—		1.95		212,495		9.11		1.89		70,410		1.84
	1.96	—		22.98		82,300		4.44		13.68		78,070		13.55
	22.99	—		33.42		15,918		3.74		32.87		15,918		32.87
						1,068,515		8.25	$	2.89		494,291	$	4.38

Summary of RSU activity

A summary of RSU activity for the years ended December 31, 2014 and 2013 is presented below:

	Years Ended December 31,
	2014					2013
	Number of Shares			Weighted Average Grant Date Fair Value		Number of Shares		Weighted Average Grant Date Fair Value
Restricted stock units outstanding, beginning of period		419,000		$	1.39		—	$	—
Granted		191,700			1.95		419,000		1.39
Vested and released		(139,671	)		1.39		—		—
Forfeited and cancelled	—			—		—		—
Restricted stock units outstanding, end of period		471,029		$	1.62		419,000	$	1.39

Non-Cash, Share-Based Compensation Expense

For the years ended December 31, 2014 and 2013, the Company recognized the following non-cash, share-based compensation expense (in thousands):

	December 31,
	2014		2013
Research and development	$	158	$	77
General and administrative	$	489	$	206
Total	$	647	$	283