Quarterly report pursuant to Section 13 or 15(d)

Fair Value of Warrants (Tables)

v3.7.0.1
Fair Value of Warrants (Tables)
3 Months Ended
Mar. 31, 2017
Fair Value Disclosures [Abstract]  
Schedule of Derivative Warrant Activity
The following table summarizes the derivative warrant activity subject to fair value accounting for the three months ended March 31, 2017 (in thousands):
Issued with/for
Fair value of
warrants
outstanding as of
December 31, 2016
 
Fair value
of warrants
issued
 
Fair value
of warrants exercised
 
Change in
fair value
of warrants
 
Fair value of
warrants
outstanding as of
March 31, 2017
2016 Offerings
$
2,018

 
$

 
$
(2,696
)
 
$
6,758

 
$
6,080

2017 Debt

 
1,004

 

 
536

 
1,540

 
$
2,018

 
$
1,004

 
$
(2,696
)
 
$
7,294

 
$
7,620

Assumptions Used in Computing Fair Value of Derivative Warrants
The following tables summarize the assumptions used in computing the fair value of derivative warrants subject to fair value accounting at the date of issue or exercise during the three months ended March 31, 2017 and 2016, and at March 31, 2017 and December 31, 2016.

2016 Offerings
Exercised During the Three Months Ended March 31, 2017
 
As of March 31, 2017
 
As of December 31, 2016
Exercise price
$
2.25

 
$
2.25

 
$
2.25

Expected life (years)
4.79

 
4.82

 
5.06

Expected volatility
76.29
%
 
77.41
%
 
72.82
%
Risk-free interest rate
1.94
%
 
1.93
%
 
1.93
%
Expected dividend yield
%
 
%
 
%

2017 Debt
Issued During the Three Months Ended March 31, 2017
 
As of March 31, 2017
Exercise price
$
2.82

 
$
2.82

Expected life (years)
7.00

 
6.98

Expected volatility
74.61
%
 
77.41
%
Risk-free interest rate
2.22
%
 
2.22
%
Expected dividend yield
%
 
%