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Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2013
Fair Value of Warrants

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

 

     December 31,  
     2013      2012  

2009 Warrants

    $ 8,542       $ 2,009   

2010 Warrants

      11,848         3,894   
  

 

 

     

 

 

  

Total warrant liability

    $ 20,390       $ 5,903   
  

 

 

     

 

 

  
Fair Value Assumptions of Warrants

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

 

     December 31,
     2013   2012

2009 Warrants:

     

Expected term (in years)

    0.65   1.65

Estimated volatility

    45%   45%

Risk-free interest rate

    0.10%   0.25%

Expected dividend yield

    0%   0%

2010 Warrants:

     

Expected term (in years)

    1.86   2.86

Estimated volatility

    41%   51%

Risk-free interest rate

    0.38%   0.36%

Expected dividend yield

    0%   0%