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Stock-based Compensation (Tables)
12 Months Ended
Dec. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Stock Option Activity

A summary of activity for the year ended December 31, 2016 is as follows:

 

 

 

Options

 

 

Weighted

Average

Exercise Price

 

Balance as of January 1, 2016

 

 

573,727

 

 

$

44.85

 

Granted

 

 

347,407

 

 

$

2.73

 

Expired

 

 

(23,979

)

 

$

104.11

 

Cancelled/forfeited

 

 

(261,043

)

 

$

32.07

 

Balance as of December 31, 2016

 

 

636,112

 

 

$

24.39

 

 

Stock Options Vested and Expected to Vest

 

 

 

Options

 

 

Weighted

Average Exercise

Price

 

 

Weighted

Average

Remaining

Contractual

Term (years)

 

 

Aggregate

Intrinsic Value

 

Balance as of December 31, 2016

 

 

636,112

 

 

$

24.39

 

 

 

7.38

 

 

$

 

Vested and expected to vest at December 31, 2016

 

 

598,135

 

 

$

25.72

 

 

 

7.27

 

 

$

 

Exercisable at December 31, 2016

 

 

286,358

 

 

$

47.76

 

 

 

5.54

 

 

$

 

 

Weighted-average Assumptions

The fair value of each option awarded during the year ended December 31, 2016 and 2015 was estimated on the date of grant using the Black-Scholes-Merton option valuation model based on the following weighted-average assumptions:

 

 

 

Years ended December 31,

 

 

 

2016

 

 

2015

 

Expected term

 

6.0 years

 

 

6.0 years

 

Risk-free interest rate

 

 

1.75

%

 

 

1.58

%

Volatility

 

 

77.56

%

 

 

75.07

%

Dividends

 

 

 

 

 

 

Resulting weighted average grant date fair value

 

$

1.84

 

 

$

4.50

 

 

Restricted Stock Awards Activity

A summary of activity for the year ended December 31, 2016 is as follows:

 

 

 

Restricted Stock

Awards

 

 

Weighted

Average Grant

Date Fair Value

 

Balance as of January 1, 2016

 

 

31,196

 

 

$

12.15

 

Vested/Released

 

 

(11,568

)

 

$

15.18

 

Cancelled/forfeited

 

 

(19,113

)

 

$

10.03

 

Balance as of December 31, 2016

 

 

515

 

 

$

64.52

 

 

Compensation Cost Recognized for Stock Options and Restricted Stock Awards

The following summarizes the total compensation cost recognized for the stock options and restricted stock awards in the accompanying financial statements (in thousands):

 

 

 

Years ended December 31,

 

 

 

2016

 

 

2015

 

Total compensation cost for share-based payment

   arrangements recognized in the statement of operations

   (net of tax of $0)

 

$

1,080

 

 

$

2,041