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, 2016
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,
  
   
2016
    
2015
  
             
Net loss allocable to common stockholders
  
$
(21,873
)
  
$
(14,526
)
Weighted average shares outstanding
    
34,180,253
      
27,597,434
  
Basic and diluted net loss per common share
  
$
(0.64
)
  
$
(0.53
)
                 
Net loss allocable to common stockholders
  
$
(21,873
)
  
$
(14,526
)
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,
   
2016
    
2015
  
             
Warrants
    
3,736,617
      
3,799,024
  
Stock options
    
4,771,560
      
2,324,084
  
Total
    
8,508,177
      
6,123,108
  
Stock-based compensation allocation
The following table summarizes stock-based compensation for the years ended December 31, 2016 and 2015 which was allocated as follows (in thousands):

   
Year ended
December 31, 2016
    
Year ended
December 31, 2015
  
Research and development
  
$
1,219
    
$
773
  
General and administrative
    
3,610
      
3,595
  
Stock-based compensation expense included in operating expense
    
4,829
      
4,368
  
                 
Total stock-based compensation expense
    
4,829
      
4,368
  
Tax benefit
    
-
      
-
  
Stock-based compensation expense, net of tax
  
$
4,829
    
$
4,368
  
 
The following table summarizes restricted stock compensation for the years ended December 31, 2016 and 2015 which was allocated as follows (in thousands):

   
Year ended
December 31, 2016
    
Year ended
December 31, 2015
  
Research and development
  
$
200
    
$
367
  
General and administrative
    
3,232
      
4,485
  
Stock-based compensation expense included in operating expense
    
3,432
      
4,852
  
                 
Total stock-based compensation expense
    
3,432
      
4,852
  
Tax benefit
    
-
      
-
  
Stock-based compensation expense, net of tax
  
$
3,432
    
$
4,852