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Stockholders' Equity (Tables)
 6 Months Ended
Jun. 30, 2013
Fair Value of Warrants

The fair value of the warrants at June 30, 2013, and December 31, 2012, consisted of the following (in thousands):

 

     June 30,      December 31,  
     2013      2012  

2009 Warrants

    $ 3,992       $ 2,009   

2010 Warrants

      6,298         3,894   
  

 

 

     

 

 

  

Total warrant liability

    $ 10,290       $ 5,903   
  

 

 

     

 

 

  
Fair Value Assumptions of Warrants

The fair value of the Company’s warrants was based on using the binomial-lattice option valuation model and using the following assumptions at June 30, 2013, and December 31, 2012:

 

     June 30,     December 31,  
     2013     2012  

2009 Warrants:

     

Expected term (in years)

      1.15        1.65   

Estimated volatility

      41 %      45 % 

Risk-free interest rate

      0.15 %      0.25 % 

Expected dividend yield

      0 %      0 % 

2010 Warrants:

     

Expected term (in years)

      2.36        2.86   

Estimated volatility

      42 %      51 % 

Risk-free interest rate

      0.36 %      0.36 % 

Expected dividend yield

      0 %      0 %