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Stock Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2017
Summary of Option Activity Under Company's Equity Incentive Plans | The following table summarizes stock option activity under the Company’s equity incentive plans and related information:
|  | Number of Shares Underlying Outstanding Options |  |  | Weighted- Average Exercise Price |  |  | Weighted-Average Remaining Contractual Term (Years) |  |  | Aggregate Intrinsic Value (thousands) |
Outstanding — December 31, 2015 |  |  | 146,634 |  |  | $ | 147.45 |  |  |  | 5.51 |  |  | $ | 16 |
Options granted |  |  | 14,706 |  |  | $ | 23.70 |  |  |  |  |  |  |  | — |
Fractional shares written off in connection with the merger(1) |  |  | (4 | ) |  | $ | — |  |  |  |  |  |  |  |  |
Options canceled |  |  | (13,773 | ) |  |  | 259.05 |  |  |  |  |  |  |  |  |
Options forfeited |  |  | (6,573 | ) |  | $ | 64.95 |  |  |  |  |  |  |  |  |
Outstanding — December 31, 2016 |  |  | 140,990 |  |  | $ | 128.25 |  |  |  | 3.93 |  |  |  | — |
Options granted |  |  | 742,000 |  |  | $ | 4.56 |  |  |  |  |  |  |  |  |
Options canceled |  |  | (141 | ) |  |  | 41.91 |  |  |  |  |  |  |  |  |
Options forfeited |  |  | (61,108 | ) |  | $ | 165.63 |  |  |  |  |  |  |  |  |
Outstanding — December 31, 2017 |  |  | 821,741 |  |  | $ | 13.69 |  |  |  | 9.17 |  |  | $ | 6,376 |
Exercisable — December 31, 2017 |  |  | 161,240 |  |  | $ | 45.34 |  |  |  |  |  |  |  |  |
Vested and expected to vest — December 31, 2017 |  |  | 821,741 |  |  | $ | 13.69 |  |  |  |  |  |  |  |  |
Shares Available to be granted — December 31, 2017 |  |  | 354,886 |  |  |  |  |  |  |  |  |  |  |  |  |
(1) | In connection with the merger, the Company assumed stock options covering an aggregate of 94,721 shares of common stock. The Company also assumed 190 shares of Restricted Stock Awards which vested in two equal annual installments beginning on December 31, 2015 and fully vesting on December 31, 2016 and excludes 4 aggregate fractional shares written off as a result of the conversion ratio applied to options assumed in the merger. Total stock-based compensation related to these restricted stock awards was $0.02 million for year ended December 31, 2016.
Summary of Stock-Based Compensation Recognized | Total stock-based compensation recognized was as follows (in thousands):
|  | Year Ended December 31, |
|  | 2017 |  |  | 2016 |
Research and development |  | $ | 699 |  |  | $ | 185 |
General and administrative |  |  | 164 |  |  |  | 450 |
Total stock-based compensation |  | $ | 863 |  |  | $ | 635 |
Employee Stock Option |
Summary of Weighted Average Valuation Assumptions Used to Estimate Fair Value |
|  | Year Ended December 31, |
|  | 2017 |  |  | 2016 |
Employee Stock Options: |  |  |  |  |  |  |  |
Expected term (in years) |  |  | 6.03 |  |  |  | 6.14 |
Risk-free interest rate |  |  | 2.03 | % |  |  | 1.53 | %
Dividend yield |  |  | — |  |  |  | — |
Volatility |  |  | 110.29 | % |  |  | 76.59 | %
Non Employee Stock Option |
Summary of Weighted Average Valuation Assumptions Used to Estimate Fair Value | The estimated grant-date fair values of the nonemployee stock options were determined using the Black-Scholes valuation model and the following assumptions:
|  | Year Ended December 31, |
|  | 2017 |  |  | 2016 |
Non-Employee Stock Options: |  |  |  |  |  |  |  |
Contractual Life (in years) |  |  | 9 |  |  |  | 10 |
Risk-free interest rate |  |  | 2.35 | % |  |  | 2.39 | %
Dividend yield |  |  | — |  |  |  | — |
Volatility |  |  | 111.55 | % |  |  | 101.12 | %

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