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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2015

Fair Value Measurements [Abstract]

Assets and Liabilities Measured at Fair Value

The following table provides a summary of the recognized assets and liabilities that we measure at fair value on a recurring basis:

		Balance as of				Basis of Fair Value Measurements
		September 30, 2015				Level 1				Level 2				Level 3
Liabilities:
Warrant liability		$	12,527,000			$	—			$	—			$	12,527,000

		Balance as of				Basis of Fair Value Measurements
		December 31, 2014				Level 1				Level 2				Level 3
Assets:
Cash equivalents		$	8,144,000			$	8,144,000			$	—			$	—
Liabilities:
Warrant liability		$	9,793,000			$	—			$	—			$	9,793,000

Estimation of Fair Value Determined by Using Option Pricing Model

	As of September 30, 2015					As of December 31, 2014
October 2014 Warrants
Expected term	4.5 years					5.3 years
Common stock market price		$	0.34			$	0.49
Risk-free interest rate			1.37	%			1.65	%
Expected volatility			90 - 120	%			90.00	%
Resulting fair value (per warrant)		$	0.25			$	0.38

	As of September 30, 2015					As of December 31, 2014
May 2015 Warrants
Expected term	5.1 years						—
Common stock market price		$	0.34				—
Risk-free interest rate			1.37	%			—
Expected volatility			90 - 120	%			—
Resulting fair value (per warrant)		$	0.25				—

	As of September 30, 2015					As of December 31, 2014
August 2015 Warrants
Expected term	4.91 years						—
Common stock market price		$	0.34				—
Risk-free interest rate			1.37	%			—
Expected volatility			90 - 120	%			—
Resulting fair value (per warrant)		$	0.25				—

Summary of Change in Level 3 Warrant Liability

The following table summarizes the change in our Level 3 warrant liability value:

		Nine months ended
Warrant liability		September 30, 2015
Beginning balance		$	9,793,000
Issuance of warrants			15,979,000
Exercised warrants			(8,257,000	)
Change in fair value			(4,988,000	)
Ending balance		$	12,527,000

X

- Definition

Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, applied during the period to each separate class of assets, liabilities, and financial instruments classified in shareholders' equity that are measured on a recurring and/or nonrecurring basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 820



-SubTopic 10



-Section 50



-Paragraph 2



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- Definition

Tabular disclosure of the fair value measurement of financial instruments classified in shareholders' equity using significant unobservable inputs (level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of level 3 (for example, transfers due to changes in the observability of significant inputs) by class of equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 820



-SubTopic 10



-Section 50



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-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19279-110258



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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 820



-SubTopic 10



-Section 50



-Paragraph 1



-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258

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