Annual report pursuant to Section 13 and 15(d)

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

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NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2015
NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]  
Basic and diluted net loss per share

Basic and diluted net loss per share were determined as follows:

 

(in thousands, except share and per share amounts)

 

    For the year ended December 31,  
    2015     2014  
             
Net loss allocable to common stockholders   $ (14,526 )   $ (29,653 )
                 
Weighted average shares outstanding     27,597,434       1,942,905  
Basic and diluted net loss per common share   $ (0.53 )   $ (15.26 )
                 
Net loss allocable to common stockholders   $ (14,526 )   $ (29,653 )
Antidilutive securities excluded from computation of earnings per share

We did not include the following securities in the table below in the computation of diluted net loss per common share because the securities were anti-dilutive during the periods presented:

 

    For the year ended December
31,		  
    2015     2014  
             
Warrants     3,799,024       4,164,756  
Stock options     2,324,084       210,134  
Total     6,123,108       4,374,890  
Stock-based compensation allocation

The following table summarizes stock-based compensation for the years ended December 31, 2015 and 2014 which was allocated as follows (in thousands):

 

   

Year ended

December 31, 2015

    

Year ended

December 31, 2014

  
Research and development   $ 773     $ 104  
General and administrative     3,595       1,201  
Stock-based compensation expense included in operating expense     4,368       1,305  
                 
Total stock-based compensation expense     4,368       1,305  
Tax benefit     -       -  
Stock-based compensation expense, net of tax   $ 4,368     $ 1,305