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Equity (Tables)
6 Months Ended
Jun. 30, 2015
Equity [Abstract]  
Summary of Stock Option Activity

A summary of stock option activity for the six months ended June 30, 2015 is as follows:

 

    Number
of Options
(in shares)
    Weighted
Average
Exercise
Price Per
Share
    Weighted
Average
Remaining
Contractual Life
    Aggregate
Intrinsic
Value
 
Outstanding at December 31, 2014     1,812,428     $ 4.51                  
Granted     662,654     $ 0.77                  
Exercised                            
Forfeited or expired     (95,164 )   $ 3.19                  
Outstanding at June 30, 2015     2,379,918     $ 3.52       5.6 years     $  
Exercisable at June 30, 2015     1,322,330     $ 5.01       3.8 years     $  

Schedule of Fair Value Assumptions Estimated Using Black-Scholes Pricing Model

The fair value of the options granted ($0.52 per option during the six months ended June 30, 2015) was estimated on the grant dates using the Black-Scholes option-pricing model with the following weighted average assumptions:

 

Risk-free interest rate     2.1 %
Expected term of options     8.7 years  
Expected annual volatility     63 %
Expected dividend yield     —%