As a result of the fair value adjustment of the warrant liabilities, we recorded a non-cash loss on an increase in the fair value of $2,000 and $4.5 million for the three and nine months ended September 30, 2015, respectively, in our Condensed Statements of Operations and Comprehensive Income (Loss). See Note 7, “Warrant Liability” for further discussion on the calculation of the fair value of the warrant liability.

(in thousands)		Warrant liability
Total warrant liability at December 31, 2014		$	5,578
Adjustment to record warrants at fair value			4,466
Reclassification of Class A and Underwriter warrant to equity			(8,646)
Total warrant liability at September 30, 2015		$	1,398