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Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Stock Option Activity

The following table summarizes stock option activity for the three months ended March 31, 2017:

		Number of Options				Weighted- Average Exercise Price				Weighted- Average Remaining Contractual Term ( Years)				Aggregate Intrinsic Value
Outstanding — January 1, 2017			2,829,301			$	6.89							$	—
Granted			365,555			$	2.78
Exercised			(136,249	)		$	2.19
Forfeited or expired			(54,822	)		$	7.69
Outstanding — March 31, 2017			3,003,785			$	6.59				8.08			$	1,496
Exercisable — March 31, 2017			1,437,144			$	6.99				7.23			$	846
Vested and expected to vest — March 31, 2017			2,956,125			$	6.56				8.08			$	1,485

Calculation of Fair Value Assumptions Using Black Scholes Option Model

The estimated fair values of employee stock options granted during the three months ended March 31, 2017 and 2016, were determined on the date of grant using the Black-Scholes option-pricing model with the following assumptions:

		Three Months Ended March 31,
		2017		2016
Expected option life (years)		5.80 – 6.71		6.22
Risk-free interest rate		2.10% - 2.23%		1.61% -1.94%
Expected volatility		76.6% - 79.9%		70.0%
Expected dividend yield		0%		0%

Stock-Based Compensation Expense

The following table presents total stock-based compensation expense for the three months ended March 31, 2017:

		Three Months Ended March 31,
		2017				2016
Research and development		$	153			$	214
General and administrative			462				1,019
Total stock based compensation expense		$	615			$	1,233

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- References

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Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 14.F)
-URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809

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- Definition

Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
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- Definition

Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

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