Quarterly report pursuant to Section 13 or 15(d)

Common Stock Warrants

v3.8.0.1
Common Stock Warrants
9 Months Ended
Sep. 30, 2017
Warrants And Rights Note Disclosure [Abstract]  
Common Stock Warrants

9. Common Stock Warrants

As of September 30, 2017 and December 31, 2016, the following common stock warrants were outstanding:

Issuance Date

 

Expiration Date

 

Balance Sheet Classification

 

Exercise Price

per Share

 

 

September 30,

2017

 

 

December 31,

2016

 

March 2012

 

March 2017

 

Contingent warrant liability

 

$

35.20

 

 

 

 

 

 

479,277

 

September 2012

 

September 2017

 

Stockholders' equity (deficit)

 

$

70.80

 

 

 

 

 

 

1,967

 

February 2015

 

February 2020

 

Stockholders' equity (deficit)

 

$

66.20

 

 

 

9,063

 

 

 

9,063

 

February 2016

 

February 2021

 

Stockholders' equity (deficit)

 

$

15.40

 

 

 

8,249

 

 

 

8,249

 

 

 

 

 

 

 

 

 

 

 

 

17,312

 

 

 

498,556

 

In March 2012, in connection with an underwritten offering, the Company issued five-year warrants to purchase 741,729 shares of the Company’s common stock at an exercise price of $35.20 per share. These warrants contained provisions that were contingent on the occurrence of a change in control, which could conditionally obligate the Company to repurchase the warrants for cash in an amount equal to their estimated fair value using the Black-Scholes Model on the date of such change in control. Due to these provisions, the Company accounted for the warrants issued in March 2012 as a liability at estimated fair value. In addition, the estimated fair value of the liability related to the warrants was revalued at each reporting period until the earlier of the exercise of the warrants, at which time the liability would be reclassified to stockholders' (deficit) equity at its then estimated fair value, or expiration of the warrants. In March 2017, all of these warrants expired unexercised.