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Stock Based Compensation (Tables)
3 Months Ended
Mar. 31, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Option Activity under Company's Equity Incentive Plans

The following table summarizes stock option activity under the Company’s equity incentive plans, including stock options granted to non-employees, and related information:

 

 

 

Number of Shares

Underlying

Outstanding Options

 

 

Weighted-

Average Exercise

Price

 

 

Weighted-Average

Remaining

Contractual Term

(Years)

 

Outstanding — December 31, 2016

 

 

140,990

 

 

$

127.56

 

 

 

3.93

 

Options granted

 

 

 

 

 

 

 

 

 

 

 

Options forfeited

 

 

(15,495

)

 

$

188.73

 

 

 

 

 

Outstanding — March 31, 2017

 

 

125,495

 

 

$

120.00

 

 

 

4.13

 

Exercisable — March 31, 2017

 

 

93,959

 

 

$

143.44

 

 

 

2.58

 

Vested and expected to vest — March 31, 2017

 

 

125,495

 

 

$

120.00

 

 

 

4.13

 

 

Summary of Weighted Average Valuation Assumptions Used to Estimate Fair Value of Employee Stock Options

The fair value of employee stock options was estimated using the following weighted-average assumptions for the three months ended March 31, 2016:

 

 

 

Three Months Ended March 31,

 

 

 

2016

 

Employee Stock Options:

 

 

 

 

Risk-free interest rate

 

 

1.57

%

Expected term (in years)

 

 

6.04

 

Dividend yield

 

 

 

Volatility

 

 

73.28

%

Weighted-average fair value of stock options granted

 

$

21.15

 

 

Summary of Stock-Based Compensation Recognized

Total stock-based compensation recognized was as follows (in thousands):

 

 

 

Three Months Ended March 31,

 

 

 

2017

 

 

2016

 

Research and development

 

$

20

 

 

$

50

 

General and administrative

 

 

100

 

 

 

103

 

Total stock-based compensation

 

$

120

 

 

$

153