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Stock-based Compensation (Tables)
12 Months Ended
Dec. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Stock Option Activity

A summary of activity for the year ended December 31, 2018 is as follows:

 

 

 

Options

 

 

Weighted

Average

Exercise Price

 

Balance as of January 1, 2018

 

 

100,870

 

 

$

119.25

 

Granted

 

 

117,300

 

 

$

2.16

 

Expired

 

 

(1,033

)

 

$

771.07

 

Cancelled/forfeited

 

 

(79,590

)

 

$

5.93

 

Balance as of December 31, 2018

 

 

137,547

 

 

$

80.07

 

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, 2018

 

 

137,547

 

 

$

80.07

 

 

 

7.90

 

 

$

 

Vested and expected to vest at December 31, 2018

 

 

122,637

 

 

$

88.94

 

 

 

7.78

 

 

$

 

Exercisable at December 31, 2018

 

 

64,836

 

 

$

161.99

 

 

 

6.59

 

 

$

 

Weighted-average Assumptions

The fair value of each option awarded during the year ended December 31, 2018 and 2017 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,

 

 

 

2018

 

 

2017

 

Expected term

 

7.1 years

 

 

6.6 years

 

Risk-free interest rate

 

 

2.94

%

 

 

2.20

%

Volatility

 

 

92.87

%

 

 

78.84

%

Dividends

 

 

 

 

 

 

Resulting weighted average grant date fair value

 

$

1.74

 

 

$

1.05

 

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,

 

 

 

2018

 

 

2017

 

Total compensation cost for share-based payment

   arrangements recognized in the statement of operations

   (net of tax of $0)

 

$

355

 

 

$

753