Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Sep. 30, 2016	Oct. 31, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q3
Entity Registrant Name	ACURA PHARMACEUTICALS, INC
Entity Central Index Key	0000786947
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	ACUR
Entity Common Stock, Shares Outstanding		11,833,801

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Current assets
Cash and cash equivalents	$ 4,272	$ 2,485
Marketable securities (Note 7)	0	10,837
Accounts receivable (net of allowances of $5 and $91)	169	83
Accrued investment income	0	37
Inventories, net (Note 8)	424	276
Prepaid expenses and other current assets	411	417
Total current assets	5,276	14,135
Property, plant and equipment, net (Note 9)	979	1,013
Intangible asset (net of accumulated amortization of $517 and $362) (Note 4)	1,483	1,638
Other assets	0	175
Total assets	7,738	16,961
Current liabilities
Accounts payable	403	110
Accrued expenses (Note 10)	736	564
Accrued interest	44	0
Other current liabilities	44	45
Sales returns liability	288	205
Debt - current (Note 11)	2,685	2,320
Total current liabilities	4,200	3,244
Debt - non-current portion (net of discount of $119 and $193, and debt issuance costs of $58 and $97) (Note 11)	3,508	5,430
Accrued interest - non-current portion	519	387
Total liabilities	8,227	9,061
Commitments and contingencies (Note 17)
Stockholders’ equity
Common stock - $.01 par value per share; 100,000 shares authorized, 11,834 and 11,801 shares issued and outstanding at September 30, 2016 and December 31, 2015, respectively	118	118
Additional paid-in capital	375,625	375,157
Accumulated deficit	(376,232)	(367,310)
Accumulated other comprehensive loss	0	(65)
Total stockholders’ (deficit) equity	(489)	7,900
Total liabilities and stockholders’ equity	$ 7,738	$ 16,961

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Accounts receivable, net of allowances	$ 5	$ 91
Finite-lived intangible assets accumulated amortization	517	362
Long-term debt, net of debt discount	119	193
Debt Instrument Issuance Cost	$ 58	$ 97
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000	100,000
Common stock, shares issued	11,834	11,801
Common stock, shares outstanding	11,834	11,801

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenues:
License fee revenue	$ 0	$ 0	$ 0	$ 5,250
Collaboration revenue	74	95	307	95
Royalty revenue	39	0	86	0
Product sales, net	105	115	306	563
Total revenues, net	218	210	699	5,908
Cost and expenses:
Cost of sales (excluding inventory write-downs)	108	132	309	554
Inventory write-downs (Note 8)	0	27	26	334
Research and development	841	432	3,258	1,907
Selling, marketing, general and administrative	1,338	2,024	5,392	6,404
Total costs and expenses	2,287	2,615	8,985	9,199
Operating loss	(2,069)	(2,405)	(8,286)	(3,291)
Non-operating income (expense):
Investment income	11	39	59	110
Interest expense (Note 11)	(215)	(283)	(697)	(892)
Other income	23	0	2	0
Total other expense, net	(181)	(244)	(636)	(782)
Loss before provision for income taxes	(2,250)	(2,649)	(8,922)	(4,073)
Provision for income taxes	0	0	0	0
Net loss	(2,250)	(2,649)	(8,922)	(4,073)
Other comprehensive income (loss):
Unrealized (losses) gains on securities	(26)	2	65	2
Comprehensive loss	$ (2,276)	$ (2,647)	$ (8,857)	$ (4,071)
Net loss per share of common stock:
Basic	$ (0.19)	$ (0.23)	$ (0.75)	$ (0.39)
Diluted	$ (0.19)	$ (0.23)	$ (0.75)	$ (0.39)
Weighted average common shares outstanding:
Basic	11,880	11,677	11,858	10,446
Diluted	11,880	11,677	11,858	10,446

CONSOLIDATED STATEMENT OF STOCKHOLDERS' (DEFICIT) EQUITY - 9 months ended Sep. 30, 2016 - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional paid-in capital	Accumulated deficit	Accumulated Other Comprehensive Income (Loss)
Balance at Dec. 31, 2015	$ 7,900	$ 118	$ 375,157	$ (367,310)	$ (65)
Balance (in shares) at Dec. 31, 2015		11,801
Net loss	(8,922)	$ 0	0	(8,922)	0
Other comprehensive income	65	0	0	0	65
Share-based compensation	450	0	450	0	0
Net distribution of common stock pursuant to restricted stock unit award plan	18	$ 0	18	0	0
Net distribution of common stock pursuant to restricted stock unit award plan (in shares)		33
Balance at Sep. 30, 2016	$ (489)	$ 118	$ 375,625	$ (376,232)	$ 0
Balance (in shares) at Sep. 30, 2016		11,834

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash Flows from Operating Activities:
Net loss	$ (8,922)	$ (4,073)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	104	92
Provision to reduce inventory to net realizable value	26	334
Provision for sales returns	83	253
Share-based compensation	450	461
Amortization of debt discount and deferred debt issue costs	113	144
Amortization of bond premium in marketable securities	31	106
Amortization of intangible asset	155	155
(Gain) on sales of marketable securities	(2)	0
Loss on disposal of property, plant and equipment	2	20
Changes in assets and liabilities:
Accounts receivable, net	(86)	(171)
Accrued investment income	37	15
Inventories	(174)	(104)
Prepaid expenses and other current assets	9	(17)
Other current deferred assets	0	217
Other assets	175	(175)
Accounts payable	293	59
Accrued expenses	170	257
Deferred revenue	0	(353)
Accrued interest - current and long term	176	141
Other current liabilities	17	7
Net cash used in operating activities	(7,343)	(2,632)
Cash Flows from Investing Activities:
Purchases of marketable securities	0	(3,523)
Proceeds from sales and maturities of marketable securities	10,873	2,811
Proceeds from disposals of property, plant and equipment	0	14
Additions to property, plant and equipment	(72)	(211)
Net cash provided by (used in) investing activities	10,801	(909)
Cash Flows from Financing Activities:
Proceeds from distribution of restricted stock units	0	1
Proceeds from ATM offering	0	225
Proceeds from Registered Direct offering	0	7,636
Transaction costs from ATM offering	0	(8)
Transaction costs from Registered Direct offering	0	(603)
Principal payments on debt	(1,671)	(1,160)
Net cash (used in) provided by financing activities	(1,671)	6,091
Net increase in cash and cash equivalents	1,787	2,550
Cash and cash equivalents at beginning of year	2,485	774
Cash and cash equivalents at end of period	4,272	3,324
Cash paid during the year for:
Interest on term loan with Oxford Finance LLC	$ 407	$ 606

DESCRIPTION OF BUSINESS

9 Months Ended

Sep. 30, 2016

Description Of Business Disclosure [Abstract]

DESCRIPTION OF BUSINESS

NOTE 1 - DESCRIPTION OF BUSINESS

Acura Pharmaceuticals, Inc., a New York corporation, and its subsidiary (the “Company”, “We”, “Us” or “Our”) is a specialty pharmaceutical company engaged in the research, development and commercialization of technologies and products intended to address medication abuse and misuse. We have discovered and developed three proprietary platform technologies which can be used to develop multiple products. Our Aversion® and Limitx™ Technologies are intended to address methods of abuse associated with opioid analgesics while our Impede® Technology is directed at minimizing the extraction and conversion of pseudoephedrine into methamphetamine.

⋅

Oxaydo® Tablets (oxycodone HCl, CII), which utilizes the Aversion Technology, is the first and only approved immediate-release oxycodone product in the United States with abuse deterrent labeling. On January 7, 2015, we entered into a Collaboration and License Agreement with Egalet US, Inc. and Egalet Ltd., each a subsidiary of Egalet Corporation (collectively, “Egalet”) pursuant to which we exclusively licensed to Egalet worldwide rights to manufacture and commercialize Oxaydo®. Oxaydo is currently approved by the FDA for marketing in the United States in 5mg and 7.5mg strengths. Egalet launched Oxaydo in the United States late in the third quarter of 2015.

⋅

Nexafed® Tablets (30mg pseudoephedrine) and Nexafed® Sinus Pressure + Pain Tablets (30/325mg pseudoephedrine and acetaminophen), utilizing the Impede Technology, were launched by us into the United States market in December 2012 and February 2015, respectively. We have multiple pseudoephedrine products in development utilizing our Impede Technology. On June 15, 2015, we and Bayer Healthcare LLC entered into a License and Development Agreement pursuant to which we granted Bayer an exclusive worldwide license to our Impede Technology for use in an undisclosed methamphetamine resistant pseudoephedrine – containing product and providing for the joint development of such product using our Impede Technology for the U.S. market.

⋅

Our third abuse deterrent technology, Limitx, is designed to retard the release of active drug ingredients when too many tablets are accidently or purposefully ingested. We have completed our first clinical study, Study AP-LTX-400, of our lead Limitx immediate release oral abuse deterrent drug candidate using the opioid hydromorphone HCI (LTX-04). Study AP-LTX-400, or Study 400, was a two cohort, open label, crossover design pharmacokinetic study in healthy adult subjects. The FDA has designated the development program for LTX-04 as Fast Track, which is designed to facilitate the development, and expedite the review of drugs to treat serious conditions and fill an unmet medical need. On April 13, 2016 and June 8, 2016, we announced that topline interim results from cohorts 1 and 2, respectively, of Study 400 for one test formulation of LTX-04 successfully demonstrated the release of the active opioid ingredient was reduced when three or more tablets were ingested, but that additional formulation development will be required for LTX-04 to deliver a sufficient amount of the active ingredient when one or two tablets are administered. We are also developing an immediate-release hydrocodone bitartrate with acetaminophen product utilizing our Limitx Technology.

Amounts presented have been rounded to the nearest thousand, where indicated, except share and per share data.

LIQUIDITY MATTERS

9 Months Ended

Sep. 30, 2016

LIQUIDITY MATTERS [Abstract]

LIQUIDITY MATTERS

NOTE 2 – LIQUIDITY MATTERS

The accompanying financial statements have been prepared assuming the Company will continue as a going concern. At September 30, 2016, we had unrestricted cash and cash equivalents (after deduction of a $2.5 million compensating balance requirement under our term loan with Oxford Finance LLC) of $1.8 million and an accumulated deficit of $376.2 million. We had a loss from operations of $8.3 million and a net loss of $8.9 million for the nine months ended September 30, 2016.

At October 31, 2016, we had unrestricted cash and cash equivalents of $4.2 million (which includes the $3.5 million payment received under our License Agreement with KemPharm, Inc. as discussed in Note 4, and is after the deduction of our $2.5 million compensating balance requirement under our term loan with Oxford Finance LLC). We estimate that our current unrestricted cash and cash equivalents will be sufficient to fund the development of our products utilizing our Limitx and Impede Technologies, the commercialization of our Nexafed products and our related operating expenses through March 2017 while maintaining compliance with the $2.5 million compensating balance requirement under our term loan with Oxford Finance LLC.

In addition to our $2.5 million cash reserve requirement, the term loan agreement with Oxford Finance LLC (“Oxford”) contains customary affirmation and negative covenants. One such covenant is that the Company must submit on an annual basis to Oxford, within 120 days after the end of its fiscal year, audited consolidated financial statements, together with an unqualified audit opinion from an independent registered public accounting firm (the “Unqualified Audit Opinion Covenant”). Failure to comply with the Unqualified Audit Opinion Covenant is a breach of the term loan agreement and unless such covenant or breach is waived, Oxford would have the option of accelerating the debt under the term loan agreement and initiating enforcement collection actions, foreclosing on collateral (which includes most assets of the Company) and, among other things, preventing the Company from using any funds in its bank or securities accounts. Per the term loan agreement an audit opinion with an explanatory paragraph noting substantial doubt about the Company’s ability to continue in business (the “going concern opinion”) is deemed to violate the Unqualified Audit Opinion Covenant. We anticipate that unless the Company raises approximately $10.0 million prior to the completion of the audit of our 2016 financial statements, projected to occur by early March 2017, our auditor’s opinion will contain a going concern opinion and absent a waiver from Oxford, we will be in breach of our term loan agreement. There can be no assurance that we will be able to raise such funds. We expect to engage in discussions with Oxford in order to seek a waiver from the Unqualified Audit Opinion Covenant, but there can be no assurance Oxford will grant such a waiver.

To fund further operations and product development activities beyond March 2017, we must raise additional financing or enter into license or collaboration agreements with third parties relating to our technologies. No assurance can be given that we will be successful in obtaining any such financing or in securing license or collaboration agreements with third parties on acceptable terms, if at all, or if secured, that such financing or license or collaboration agreements will provide payments to the Company sufficient to fund continued operations. In the absence of such financing or third-party license or collaboration agreements, there will be substantial doubt about the Company’s ability to continue as a going concern and the Company will be required to scale back or terminate operations and/or seek protection under applicable bankruptcy laws. An extended delay or cessation of the Company’s continuing product development efforts will have a material adverse effect on the Company’s financial condition and results of operations.

In view of the matters described above, recoverability of a major portion of the recorded asset amounts shown in the Company’s accompanying balance sheets is dependent upon continued operations of the Company, which in turn is dependent upon the Company’s ability to meet its financing requirements on a continuous basis, to maintain existing financing and to succeed in its future operations. The Company’s financial statements do not include any adjustment relating to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue in existence.

ACCOUNTING PRONOUNCEMENTS

9 Months Ended

Sep. 30, 2016

New Accounting Pronouncements and Changes in Accounting Principles [Abstract]

ACCOUNTING PRONOUNCEMENTS

NOTE 3 – ACCOUNTING PRONOUNCEMENTS

Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern

In August 2014, the FASB issued ASU No. 2014-15, “Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern”, which will explicitly require management to assess an entity’s ability to continue as a going concern and to provide related footnote disclosures in certain circumstances. Currently, there is no guidance in GAAP about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern or to provide related footnote disclosures. The amendments in this Update provide that guidance. In doing so, the amendments should reduce diversity in the timing and content of footnote disclosures. The amendments require management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the amendments (1) provide a definition of the term “substantial doubt”, (2) require an evaluation every reporting period including interim periods, (3) provide principles for considering the mitigating effect of management’s plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). The amendments in this update are effective for the first annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company is currently evaluating the impact of adopting this update on its financial statements.

- Definition

The entire disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6507316

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Direct Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=66092750

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22583-107794

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Indirect Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6515603

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22580-107794

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.10-01.(b)(6))
-URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Accounting Change
-URI http://asc.fasb.org/extlink&oid=6503790

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22499-107794

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Retrospective Application
-URI http://asc.fasb.org/extlink&oid=6523989

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e765-108305

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e725-108305

+ Details

LICENSE, DEVELOPMENT, AND COMMERCIALIZATION AGREEMENTS

9 Months Ended

Sep. 30, 2016

Research and Development Disclosure [Abstract]

LICENSE, DEVELOPMENT, AND COMMERCIALIZATION AGREEMENT

NOTE 4 - LICENSE, DEVELOPMENT, AND COMMERCIALIZATION AGREEMENTS

Egalet Agreement

On January 7, 2015, we and Egalet entered into a Collaboration and License Agreement (the “Egalet Agreement”) to commercialize Aversion Oxycodone (formerly known as Oxecta®) under our tradename Oxaydo. Oxaydo is approved by the FDA for marketing in the United States in 5 mg and 7.5 mg strengths. Under the terms of the Egalet Agreement, we transferred the approved New Drug Application, or NDA, for Oxaydo to Egalet and Egalet is granted an exclusive license under our intellectual property rights for development and commercialization of Oxaydo worldwide (the “Territory”) in all strengths, subject to our right to co-promote Oxaydo in the United States. Eaglet launched Oxaydo in the United States late in the third quarter of 2015.

In accordance with the Egalet Agreement, we and Egalet have formed a joint steering committee to coordinate commercialization strategies and the development of product line extensions. Egalet is responsible for the fees and expenses relating to the Oxaydo NDA and product line extensions of Oxaydo, provided that Egalet will pay a substantial majority of the fees and expenses and we will pay for the remaining fees and expense relating to (i) annual NDA PDUFA product fees, (ii) expenses of the FDA required post-marketing study for Oxaydo and (iii) expenses of clinical studies for product line extensions (additional strengths) of Oxaydo for the United States. Egalet will bear all of the expenses of development and regulatory approval of Oxaydo for sale outside the United States. Egalet is responsible for all manufacturing and commercialization activities in the Territory for Oxaydo. Subject to certain exceptions, Egalet will have final decision making authority with respect to all development and commercialization activities for Oxaydo, including pricing, subject to our co-promotion right. Egalet may develop Oxaydo for other countries and in additional strengths, in its discretion.

Egalet paid us a $5.0 million license fee upon signing of the Egalet Agreement and on October 9, 2015, paid us a $2.5 million milestone in connection with the first commercial sale of Oxaydo. We will be entitled to a one-time $12.5 million milestone payment when worldwide Oxaydo net sales reach $150 million in a calendar year. We are receiving from Egalet a stepped royalty at percentage rates ranging from mid-single digits to double-digits based on Oxaydo net sales during each calendar year (excluding net sales resulting from our co-promotion efforts). In any calendar year of the agreement in which net sales exceed a specified threshold, we will receive a double digit royalty on all Oxaydo net sales in that year (excluding net sales resulting from our co-promotion efforts). If we exercise our co-promotion rights, we will receive a share of the gross margin attributable to incremental Oxaydo net sales from our co-promotion activities. Egalet’s royalty payment obligations commence on the first commercial sale of Oxaydo and expire, on a country-by-country basis, upon the expiration of the last to expire valid patent claim covering Oxaydo in such country (or if there are no patent claims in such country, then upon the expiration of the last valid claim in the United States or the date when no valid and enforceable listable patent in the FDA’s Orange Book remains with respect to Oxaydo). Royalties will be reduced upon the entry of generic equivalents, as well as for payments required to be made by Egalet to acquire intellectual property rights to commercialize Oxaydo, with an aggregate minimum floor.

The Egalet Agreement expires upon the expiration of Egalet’s royalty payment obligations in all countries. Either party may terminate the Egalet Agreement in its entirety if the other party breaches a payment obligation, or otherwise materially breaches the Egalet Agreement, subject to applicable cure periods, or in the event the other party makes an assignment for the benefit of creditors, files a petition in bankruptcy or otherwise seeks relief under applicable bankruptcy laws. We also may terminate the Egalet Agreement with respect to the U.S. and other countries if Egalet materially breaches its commercialization obligations. Egalet may terminate the Egalet Agreement for convenience on 120 days prior written notice, which termination may not occur prior to the second anniversary of Egalet’s launch of Oxaydo. Termination does not affect a party’s rights accrued prior thereto, but there are no stated payments in connection with termination other than payments of obligations previously accrued. For all terminations (but not expiration), the Egalet Agreement provides for the transition of development and marketing of Oxaydo from Egalet to us, including the conveyance by Egalet to us of the trademarks and all regulatory filings and approvals relating to Oxaydo, and for Egalet’s supply of Oxaydo for a transition period.

KemPharm Agreement

On October 13, 2016, we and KemPharm Inc. (”KemPharm”) entered into a worldwide License Agreement (the “KemPharm Agreement”) pursuant to which we licensed our Aversion® technology to KemPharm for its use in the development and commercialization of three products using 2 of KemPharm’s prodrug candidates. KemPharm has also been granted an option to extend the KemPharm Agreement to cover two additional prodrug candidates. KemPharm is responsible for all development, manufacturing and commercialization activities, although we may provide initial technical assistance.

Upon execution of the KemPharm Agreement, KemPharm paid us an upfront payment of $3.5 million. If KemPharm exercises its option to use our Aversion technology with more than the 2 licensed prodrugs, then KemPharm will pay us up to $1.0 million for each additional prodrug license. In addition, we will receive from KemPharm a low single digit royalty on commercial sales by KemPharm of products developed using our Aversion technology under the KemPharm Agreement. KemPharm’s royalty payment obligations commence on the first commercial sale of a product using our Aversion technology and expire, on a country-by-country basis, upon the expiration of the last to expire patent claim of the Aversion technology covering a product in such country, at which time the license for the particular product and country becomes fully paid and royalty free.

The KemPharm Agreement expires upon the expiration of KemPharm’s royalty payment obligations in all countries. Either party may terminate the KemPharm Agreement in its entirety if the other party materially breaches the KemPharm Agreement, subject to applicable cure periods. Acura or KemPharm may terminate the KemPharm Agreement with respect to the U.S. and other countries if the other party challenges the patents covering the licensed products. KemPharm may terminate the KemPharm Agreement for convenience on ninety (90) days prior written notice. Termination does not affect a party’s rights accrued prior thereto, but there are no stated payments in connection with termination other than payments of obligations previously accrued. For all terminations (but not expiration), the KemPharm Agreement provides for termination of our license grant to KemPharm.

Bayer Agreement

On June 15, 2015, we and Bayer entered into a License and Development Agreement (the “Bayer Agreement”) granting Bayer an exclusive worldwide license to our Impede Technology for use in an undisclosed methamphetamine resistant pseudoephedrine–containing product (the “Bayer Licensed Product”) and providing for the joint development of such product utilizing our Impede Technology for the U.S. market. The Bayer Agreement also grants Bayer first right to negotiate a license to the Impede Technology for certain other products.

We and Bayer have formed a joint development committee to coordinate development of the Bayer Licensed Product. We will be eligible to receive reimbursement of certain of our development costs, success-based development and regulatory milestones payments, and low mid-single digit royalties on net sales of the Bayer Licensed Product in countries with patent coverage and a reduced royalty elsewhere.

The term of the Bayer Agreement with respect to each country expires when royalties are no longer payable with respect to such country. After expiration of the term Bayer retains a license to sell the Bayer Licensed Product on a royalty free basis. Either party may terminate the Bayer Agreement in its entirety if the other party materially breaches the Bayer Agreement, subject to an applicable cure period, or in the event the other party makes an assignment for the benefit of creditors, files a petition in bankruptcy or otherwise seeks relief under applicable bankruptcy laws. Bayer may terminate the Bayer Agreement immediately prior to completion of our development obligations or at any time upon six (6) months prior written notice thereafter. We may terminate the Bayer Agreement with respect to the U.S. if Bayer ceases or suspends development or commercialization of the Bayer Licensed Product for a certain period of time.

Purdue Pharma

The Company received a $250 thousand payment from Purdue Pharma L.P. in June 2015 relating to a December 2014 agreement to settle a patent interference action on U.S. Patent No. 8,101,630 issued to Acura.

Terminated Pfizer Agreement

In 2007, we entered into License, Development and Commercialization Agreement for Oxaydo (named Oxecta® under a Pfizer trademark) and other Aversion opioid development products with King Pharmaceuticals Research and Development, Inc., which became a subsidiary of Pfizer in 2011 (the “Pfizer Agreement”). In April 2014, we entered into a letter agreement with Pfizer providing for the termination of the Pfizer Agreement and the return to us of Oxaydo and all Aversion product rights in exchange for a one-time termination payment of $2.0 million. Our termination payment of $2.0 million has been recorded in our consolidated financial statements as an intangible asset and is being amortized over the remaining useful life of the patent covering Oxaydo. During each of the nine month periods ending September 30, 2016 and 2015, we recognized amortization expense on this intangible asset of $155 thousand. At September 30, 2016 the unamortized portion of the intangible asset was $1.5 million. We also purchased from Pfizer in April 2014 selected raw and packaging material inventories relating to Oxaydo for $260 thousand. During the nine months ended 2015, we recorded a $260 thousand inventory obsolescence expense on these inventories.

REVENUE RECOGNITION

9 Months Ended

Sep. 30, 2016

Revenue Recognition [Abstract]

REVENUE RECOGNITION

NOTE 5 - REVENUE RECOGNITION

License Fee Revenue

On January 7, 2015, we and Egalet entered into a Collaboration and License Agreement to commercialize Oxaydo tablets (formerly known as Oxecta) utilizing our Aversion® Technology. Egalet paid us $5.0 million upon signing the Egalet Agreement. The payment was non-refundable and non-creditable when made and we had no further requirements to earn the payment. The amount was recognized as revenue when received (see Note 4).

On October 13, 2016, we and KemPharm entered into a Licensed Agreement pursuant to which we licensed to KemPharm our Aversion technology for use in certain KemPharm prodrug candidates. KemPharm paid us $3.5 million upon execution of the KemPharm Agreement. The payment was recognized as revenue when received as we had no further requirements to earn the payment (see Note 4).

Collaboration Revenue

Collaboration revenue is derived from reimbursement of development expenses, such as under the Bayer Agreement, and are recognized when costs are incurred pursuant to the agreement. The ongoing research and development services being provided under the collaboration are priced at fair value based upon the reimbursement of labor and expenses incurred pursuant to the collaboration agreements. During the three and nine month periods ended September 30, 2016, we recognized collaboration revenue of $74 thousand and $307 thousand, respectively. During each of the three and nine month periods ended September 30, 2015, we recognized collaboration revenue of $95 thousand.

Royalty Revenue

In connection with our Collaboration and License Agreement with Egalet to commercialize Oxaydo tablets we will receive a stepped royalty at percentage rates ranging from mid-single digits to double-digits based on Oxaydo net sales during each calendar year over the term of the agreement (excluding net sales resulting from any co-promotion efforts by us). We recognize royalty revenue each calendar quarter based on net sales reported to us by Egalet in accordance with the agreement. Egalet’s first commercial sale of Oxaydo occurred in October 2015. We recognized royalty revenue of $39 thousand and $86 thousand on Oxaydo net sales during the three and nine month periods, respectively, ended September 30, 2016. We did not recognize any royalty revenue during the same periods in 2015. (see Note 4).

Product Sales

Nexafed was launched in mid-December 2012 and Nexafed Sinus Pressure + Pain was launched in February 2015. We sell our Nexafed products in the United States to wholesale pharmaceutical distributors as well as directly to chain drug stores. Our Nexafed products are sold subject to the right of return usually for a period of up to twelve months after the product expiration. The Nexafed products currently have a shelf life of twenty-four months from the date of manufacture. Given the limited sales history of our Nexafed products, we could not reliably estimate expected returns of the product at the time of shipment to certain customers. During the first quarter of 2015, we determined we had obtained sufficient sales returns history to reasonably estimate future product returns from those customers. We recorded a one-time adjustment in the first quarter of 2015 to recognize revenue that had previously been deferred, resulting in additional net revenues of $314 thousand after recording a liability for sales returns of $120 thousand, and additional cost of sales of $255 thousand. We currently recognize revenue from our Nexafed product line when the price is fixed and determinable at the date of sale, title and risk of ownership have been transferred to the customer. At September 30, 2016 and December 31, 2015, we had a $288 thousand and $205 thousand sales returns liability, respectively, which is reviewed against sales returns activity each calendar quarter for adjustment.

Shipping and Handling Costs

We record shipping and handling costs in selling expenses. The amounts recorded to selling expenses from the shipments of the Nexafed product line during each of the nine month periods ended September 30, 2016 and 2015 were not material.

RESEARCH AND DEVELOPMENT ACTIVITIES

9 Months Ended

Sep. 30, 2016

Research and Development [Abstract]

RESEARCH AND DEVELOPMENT ACTIVITIES

NOTE 6 - RESEARCH AND DEVELOPMENT ACTIVITIES

Research and Development (“R&D”) expenses may include internal R&D activities, external Contract Research Organization (“CRO”) services and their clinical research sites, and other activities. Internal R&D activity expenses may include facility overhead, equipment and facility maintenance and repairs, laboratory supplies, pre-clinical laboratory experiments, depreciation, salaries, benefits, and share-based compensation expenses. CRO activity expenses may include preclinical laboratory experiments and clinical trial studies. Other activity expenses may include regulatory services and consulting including our cost sharing expenses of certain clinical studies for product line extensions (additional strengths) of Oxaydo for the United States under the Egalet Agreement and our cost sharing expenses of the FDA required post-marketing study for Oxaydo under the Egalet Agreement, and regulatory legal counsel. Internal R&D activities and other activity expenses are charged to operations as incurred. We make payments to the CRO's based on agreed upon terms and may include payments in advance of a study starting date. We review and accrue CRO expenses and clinical trial study expenses based on services performed and rely on estimates of those costs applicable to the stage of completion of a study as provided by the CRO. Accrued CRO costs are subject to revisions as such studies progress to completion. Revisions are charged to expense in the period in which the facts that give rise to the revision become known.

During December 2015, we entered into a $200 thousand cancelable arrangement for contract manufacturing services on a project to integrate Impede 2.0 Technology into our commercially available Nexafed 30mg tablet while moving supply to an alternate contract manufacturer. Approximately $46 thousand and $200 thousand of services remained to be performed under this agreement at September 30, 2016 and December 31, 2015, respectively. No service costs were prepaid under this agreement at either September 30, 2016 or December 31, 2015.

- Definition

The entire disclosure for research, development, and computer software activities, including contracts and arrangements to be performed for others and with federal government. Includes costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility and in-process research and development acquired in a business combination consummated during the period.

+ References + Details

INVESTMENTS IN MARKETABLE SECURITIES

9 Months Ended

Sep. 30, 2016

Investments, Debt and Equity Securities [Abstract]

INVESTMENTS IN MARKETABLE SECURITIES

NOTE 7 - INVESTMENTS IN MARKETABLE SECURITIES

We had no investments at September 30, 2016. Investments in marketable securities at December 31, 2015 consisted of the following:

	December 31, 2015
	(in millions)
Marketable securities:
Corporate bonds - maturing within 1 year	$	3.1
Corporate bonds - maturing after 1 year and less than two years		0.4
Exchange-traded funds		7.3
Total marketable securities	$	10.8

The Company’s marketable securities are classified as available-for-sale and are recorded at fair value based on quoted market prices or net asset value using the specific identification method. The purchase cost of corporate bonds may include a purchase price premium or discount which will be amortized or accreted against earned interest income to the maturity date of the bond. Our investments are classified as current in the Company’s Consolidated Balance Sheets as they may be sold within one year in response to changes in market prices or interest rates, to realign our investment concentrations or to meet our working capital needs.

The following tables provide a summary of the fair value and unrealized gains (losses) related to the Company’s available-for-sale securities at December 31, 2015:

	December 31, 2015
	(in millions)
	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available-for-sale:
Corporate bonds	$	3.6	$	-	$	(0.1)	$	3.5
Exchange-traded funds		7.3		-		-		7.3
Total - Current	$	10.9	$	-	$	(0.1)	$	10.8

Fair Value Measurement

Fair value is the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants. Fair values determined based on Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities. Fair values determined based on Level 2 inputs utilize observable quoted prices for similar assets and liabilities in active markets and observable quoted prices for identical or similar assets in markets that are not very active. Fair values determined based on Level 3 inputs utilize unobservable inputs and include valuations of assets or liabilities for which there is little, if any, market activity. A financial asset or liability’s classification within the above hierarchy is determined based on the lowest level input that is significant to the fair value measurement.

Our assets measured at fair value or disclosed at fair value on a recurring basis at December 31, 2015 consisted of the following:

	December 31, 2015
	(in millions)
	Total		Level 1		Level 2		Level 3
Assets:
Corporate bonds	$	3.5	$	-	$	3.5	$	-
Exchange-traded funds		7.3		7.3		-		-
Total	$	10.8	$	7.3	$	3.5	$	-

Accumulated Other Comprehensive Income (Loss)

Unrealized gains or losses on marketable securities are recorded in accumulated other comprehensive income (loss). Accumulated other comprehensive income (loss) at December 31, 2015 consisted of unrealized losses on securities of $65 thousand.

Fair Value of Other Financial Instruments

The Company’s financial instruments consist primarily of cash and cash equivalents, marketable securities, accounts and other receivables, trade accounts payable, accrued expenses and our long-term debt. The carrying amounts of these financial instruments, other than marketable securities and our long-term debt, are representative of their respective fair values due to their relatively short maturities. The Company believes the fair value of long-term debt approximates its carrying value based upon the borrowing rates currently available to the Company for loans with similar terms. As discussed above, marketable securities are recorded at fair value.

- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References + Details

INVENTORIES

9 Months Ended

Sep. 30, 2016

Inventory Disclosure [Abstract]

INVENTORIES

NOTE 8 – INVENTORIES

Inventories consist of raw materials and finished goods on our Nexafed product at September 30, 2016. Inventories are stated at the lower of cost (first-in, first-out method) or market (net realizable value). We write down inventories to net realizable value based on forecasted demand and market conditions, which may differ from actual results. Our purchases of ingredients and other materials required in our development and clinical trial activities are expensed as incurred.

Inventories are summarized as follows:

	September 30,		December 31,
	2016		2015
	(in thousands)
Raw and packaging materials	$	98	$	-
Finished goods		358		346
Total		456		346
Less: reserve for finished goods		(32)		(70)
Net inventory	$	424	$	276

Inventory reserve activity during the nine months ended September 30, 2016 and 2015 was as follows:

	2016		2015
	(in thousands)
Reserve balance at January 1st,	$	70	$	-
Reserve expense – raw and packaging materials		-		260
Reserve expense – finished goods		26		47
		96		307
Inventory destruction – raw and packaging materials		-		(260)
Inventory destruction - finished goods		(64)		-
Reserve balance at September 30th,	$	32	$	47

PROPERTY, PLANT AND EQUIPMENT

9 Months Ended

Sep. 30, 2016

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

NOTE 9 – PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment are stated at cost of $2,821 thousand and $2,754 thousand, less accumulated depreciation of $1,842 thousand and $1,741 thousand at September 30, 2016 and December 31, 2015, respectively. We have no leasehold improvements. Betterments are capitalized and maintenance and repairs are charged to operations as incurred. When a depreciable asset is retired from service, the cost and accumulated depreciation are removed from the respective accounts. The estimated useful lives of the major classification of depreciable assets are:

Building and improvements		10 - 40 years
Land and improvements		20 - 40 years
Machinery and equipment		7 - 10 years
Scientific equipment		5 - 10 years
Computer hardware and software		3 - 10 years

Our depreciation expense was $104 thousand and $92 thousand for the nine month periods ended September 30, 2016 and 2015, respectively. Depreciation expense is recorded on a straight-line basis over the estimated useful lives of the related assets.

ACCRUED EXPENSES

9 Months Ended

Sep. 30, 2016

Payables and Accruals [Abstract]

ACCRUED EXPENSES

NOTE 10 - ACCRUED EXPENSES

Accrued expenses are summarized as follows:

	September 30,		December 31,
	2016		2015
	(in thousands)
Payroll, payroll taxes, and benefits	$	86	$	101
Professional services		198		171
Franchise and property taxes		20		21
Marketing and promotion		35		115
Clinical, non-clinical and regulatory services		44		92
Licensee cost sharing expenses		325		-
Other fees and services		28		64
Total	$	736	$	564

DEBT

9 Months Ended

Sep. 30, 2016

Debt Disclosure [Abstract]

DEBT

NOTE 11 – DEBT

On December 27, 2013, we entered into a Loan and Security Agreement (the “Loan Agreement”) with Oxford Finance LLC (“Oxford” or the “Lender”), for a term loan to the Company in the principal amount of $10.0 million (the “Term Loan”). The full principal amount of the Term Loan was funded on December 27, 2013. We are using the proceeds of the Loan Agreement for general working capital and to fund our business requirements. The Term Loan accrues interest at a fixed rate of 8.35% per annum (with a default rate of 13.35% per annum). The Company was required to make monthly interest-only payments until April 1, 2015 (“Amortization Date”) and on the Amortization Date, the Company began to make payments of principal and accrued interest in equal monthly installments of $260 thousand sufficient to amortize the Term Loan through the maturity date of December 1, 2018. All unpaid principal and accrued and unpaid interest with respect to the Term Loan is due and payable in full on December 1, 2018. As of September 30, 2016, we have made $3.6 million in principal payments on the Term Loan and the balance of term Loan is $6.4 million. As security for its obligations under the Loan Agreement, the Company granted Lender a security interest in substantially all of its existing and after-acquired assets, exclusive of its intellectual property assets. Pursuant to the Loan Agreement, the Company is not allowed to pledge its intellectual property assets to others. Upon the execution of the Loan Agreement, we issued to the Lender warrants to purchase an aggregate of up to 60 thousand shares of our common stock at an exercise price equal to $7.98 per share (after adjustment for our one-for-five reverse stock split) (the “Warrants”). We recorded $400 thousand as debt discount associated with the fair value of the Warrants and are amortizing it to interest expense over the term of the loan using the loan’s effective interest rate. The Warrants are immediately exercisable for cash or by net exercise and will expire December 27, 2020. The fair value of the warrants was determined using the Black-Scholes option-pricing model. Significant assumptions used in the Black-Scholes model were:

Expected dividend yield	0.0	%
Risk-free interest rate	2.4	%
Expected volatility	92	%
Expected term (years)	7

On January 7, 2015, we and Oxford entered into an amendment to the Loan Agreement. Pursuant to the amendment, (i) the exercise price of the Warrants was lowered from $7.98 to $2.52 per share (the average closing price of our common stock on Nasdaq for the 10 trading days preceding the date of the amendment and after giving effect to our one-for-five reverse stock split) and we recorded additional debt discount of $33 thousand representing the fair value of the warrant modification, (ii) we agreed to a compensating balance requirement under which we are required to maintain $2.5 million cash reserves until such time as we have repaid $5.0 million in principal of the Term Loan, and (iii) the Lender consented to the terms of our Collaboration and License Agreement with Egalet relating to our Oxaydo product.

On October 13, 2016, we and Oxford entered into a second amendment to the Loan Agreement (the “Second Amendment”). Pursuant to the Second Amendment, (i) the requirement that we maintain a $2.5 million cash balance reserve until such time as $5 million in principal was repaid under the Term Loan, has been modified so that the $2.5 million cash balance reserve remains in place until we raised an additional $6.0 million (excluding payments received under the KemPharm Agreement) through the issuance of equity securities and from upfront payments under license, joint venture, collaboration or other partnering transactions, provided that at least $3.0 million of such amount must be raised through the issuance and sale of our equity securities, and (ii) the Lender consented to the terms of our Agreement with KemPharm.

The Company may voluntarily prepay the Term Loan in full, but not in part, and any prepayment is subject to a prepayment premium equal to 1% of the principal prepaid. In addition, at the maturity, termination or upon voluntary or mandatory prepayment of the Term Loan the Company must pay the Lender an additional one-time interest payment of $795 thousand. We are accruing additional monthly interest expense over the term of the loan for this additional one-time interest payment using the loan’s effective cash interest rate. As of September 30, 2016, we have accrued and accumulated $519 thousand of additional interest.

The Company was obligated to pay customary lender fees and expenses, including a one-time facility fee of $50 thousand and the Lender’s expenses in connection with the Loan Agreement. Combined with the Company’s own expenses and a $100 thousand consulting placement fee, the Company incurred $231 thousand in deferred debt issue costs. We are amortizing these costs, including debt modification additional costs, into interest expense over the term of the loan using the loan’s effective interest rate of 10.16%.

The Loan Agreement contains customary representations, warranties and affirmative and negative covenants, including, among others, limits or restrictions on the Company’s ability to incur liens, incur indebtedness, pay dividends, redeem stock, and merge or consolidate and dispose of assets. In addition, it contains customary events of default that entitles the Lender to cause any or all of the Company’s indebtedness under the Loan Agreement to become immediately due and payable. The events of default (some of which are subject to applicable grace or cure periods), include, among other things, non-payment defaults, covenant defaults, a material adverse change in the Company, bankruptcy and insolvency defaults and material judgment defaults. One affirmative covenant is that the Company must submit on an annual basis to Oxford, within 120 days after the end of its fiscal year, audited consolidated financial statements, together with an unqualified audit opinion from an independent registered public accounting firm (the “Unqualified Audit Opinion Covenant”). Failure to comply with the Unqualified Audit Opinion Covenant is a breach of the term loan agreement and unless such covenant or breach is waived, Oxford would have the option of accelerating the debt under the term loan agreement and initiating enforcement collection actions, foreclosing on collateral (which includes most assets of the Company) and, among other things, preventing the Company from using any funds in its bank or securities accounts. Per the term loan agreement an audit opinion with an explanatory paragraph noting substantial doubt about the Company’s ability to continue in business (the “going concern opinion”) is deemed to violate the Unqualified Audit Opinion Covenant. We anticipate that unless the Company raises approximately $10.0 million prior to the completion of the audit of our 2016 financial statements, projected to occur by early March 2017, our auditor’s opinion will contain a going concern opinion and absent a waiver from Oxford, we will be in breach of our term loan agreement. There can be no assurance that we will be able to raise such funds. We expect to engage in discussions with Oxford in order to seek a waiver from the Unqualified Audit Opinion Covenant, but there can be no assurance Oxford will grant such a waiver.

Our debt is summarized below (in thousands):

Long-term Debt	Current		Long-term		Total
Balance at Dec 31, 2015	$	2,320	$	5,720	$	8,040
Principal payments		(1,670)		-		(1,670)
Classification		2,035		(2,035)		-
Balance at September 30, 2016	$	2,685	$	3,685	$	6,370

Debt Discount	Current		Long-term		Total
Balance at Dec 31, 2015	$	-	$	(193)	$	(193)
Modification of warrants		-		-		-
Amortization expense		-		74		74
Balance at September 30, 2016	$	-	$	(119)	$	(119)

Deferred Debt Issuance Costs	Current		Long-term		Total
Balance at Dec 31, 2015	$	-	$	(97)	$	(97)
Amortization expense		-		39		39
Balance at September 30, 2016	$	-	$	(58)	$	(58)

Long-term Debt, net at September 30, 2016	$	2,685	$	3,508	$	6,193

Our interest expense for the three and nine months ended September 30, 2016 and 2015 consisted of the following (in thousands):

	Three months Ended September 30,				Nine months Ended September 30,
	2016		2015		2016		2015
Interest expense:
Term loan	$	180	$	236	$	584	$	748
Debt discount		23		31		74		94
Debt issue costs		12		16		39		50
Total interest expense	$	215	$	283	$	697	$	892

The annual principal payments of the debt at September 30, 2016 are as follows:

	Annual Principal Payments
Calendar Year	(in thousands)
2016	$	651
2017		2,741
2018		2,978
Total	$	6,370

EQUITY FINANCING

9 Months Ended

Sep. 30, 2016

Equity [Abstract]

EQUITY FINANCING

NOTE 12 – EQUITY FINANCING

Our universal shelf registration statement on Form S-3 (File No. 333-210039) was declared effective by the U.S. Securities and Exchange Commission (“SEC”) on March 30, 2016. We may file with the SEC a prospectus supplement to our S-3 registration statement to sell common stock or other equity or debt securities, from time to time, in “registered direct” offerings, “at the market” offerings and certain other transactions. We expect that the net proceeds from such transactions, if any are completed, will be used for general corporate purposes, including working capital, research, development and marketing expenses, clinical trial expenditures and capital expenditures.

COMMON STOCK WARRANTS

9 Months Ended

Sep. 30, 2016

Stockholders Equity Note [Abstract]

COMMON STOCK WARRANTS

NOTE 13 - COMMON STOCK WARRANTS

We have outstanding common stock purchase warrants (“warrants”) exercisable for 60 thousand shares of our common stock having an exercise price of $2.52 per share (after giving effect to our one-for-five reverse stock split) with an expiration date in December 2020. See Note 11 for a discussion of the reduction of the exercise price of these warrants to $2.52 per share which were originally issued in connection with the issuance of the $10.0 million secured promissory notes in December 2013. These warrants contain a cashless exercise feature.

Our warrant activity during the nine month periods ended September 30, 2016 and 2015 is shown below (in thousands except price data):

	Nine months Ended September 30,
	2016				2015
	Number		WAvg Exercise Price		Number		WAvg Exercise Price
Outstanding, beginning		60	$	2.52		60	$	7.98
Issued		-		-		-		-
Exercised		-		-		-		-
Expired		-		-		-		-
Modification		-		-		-		(5.46)
Outstanding, ending		60	$	2.52		60	$	2.52

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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+ Details

SHARE-BASED COMPENSATION

9 Months Ended

Sep. 30, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

SHARE-BASED COMPENSATION

NOTE 14 - SHARE-BASED COMPENSATION

Share-based Compensation

We have three share-based compensation plans covering stock options and RSUs for our employees and directors.

We measure our compensation cost related to share-based payment transactions based on fair value of the equity or liability instrument issued. For purposes of estimating the fair value of each stock option unit on the date of grant, we utilize the Black-Scholes option-pricing model. Option valuation models require the input of highly subjective assumptions including the expected volatility factor of the market price of our common stock (as determined by reviewing our historical public market closing prices). Our accounting for share-based compensation for RSUs is based on the market price of our common stock on the date of grant, less its exercise cost.

Our share-based compensation expense recognized in the Company’s results of operations from all types of issued instruments comprised the following (in thousands):

	Three months Ended September 30,				Nine months Ended September 30,
	2016		2015		2016		2015
Research and development expense:
Stock options	$	43	$	39	$	128	$	117
Restricted stock units		-		-		-		-
Subtotal	$	43	$	39	$	128	$	117

General and administrative expense:
Stock options	$	77	$	107	$	232	$	293
Restricted stock units		30		4		90		51
Subtotal	$	107	$	111	$	322	$	344

Total	$	150	$	150	$	450	$	461

Stock Option Award Plans

We have two stock option plans in effect, and one stock option plan has expired by its terms, but pursuant to which stock options have been granted and remain outstanding. Our stock option award activity during the nine month periods ended September 30, 2016 and 2015 is shown below:

	Nine months Ended September 30,
	2016				2015
	Number of Options (000’s)		Weighted Average Exercise Price		Number of Options (000’s)		Weighted Average Exercise Price
Outstanding, beginning		1,198	$	15.67		911	$	20.70
Granted		-		-		-		-
Exercised		-		-		-		-
Forfeited or expired		-		-		(16)		24.50
Outstanding, ending		1,198	$	15.67		895	$	20.66
Options exercisable		1,000	$	18.37		779	$	23.21

There was no intrinsic value of option awards which were vested and outstanding at September 30, 2016. The intrinsic value of the option awards which were vested and outstanding at December 31, 2015 was $6 thousand. The total remaining unrecognized compensation cost on unvested option awards outstanding at September 30, 2016 was $351 thousand, and is expected to be recognized in operating expense over the 14 months remaining in the requisite service periods. As of September 30, 2016, 615 thousand shares are available for award under the stock option plans.

Restricted Stock Unit Award Plan

We have a Restricted Stock Unit Award Plan (the “2014 RSU Plan”) for our employees and non-employee directors. Vesting of an RSU entitles the holder to receive a share of our common stock on a distribution date. The share-based compensation cost to be incurred on a granted RSU is the RSU’s fair value, which is the market price of our common stock on the date of grant, less its exercise cost. The compensation cost is amortized to expense over the vesting period of the RSU award.

A summary of the grants under the RSU Plans consisted of the following:

	Nine months Ended September 30,
	2016				2015
	(in thousands)
	Number of RSUs		Number of Vested RSUs		Number of RSUs		Number of Vested RSUs
Outstanding, beginning		45		45		29		29
Granted		88		-		42		-
Distributed		(42)		(42)		(26)		(26)
Vested		-		66		-		32
Forfeited or expired		-		-		-		-
Outstanding, ending		91		69		45		35

Our 2014 RSU Plan was approved by shareholders on May 1, 2014 and permits the grant of up to 400 thousand shares of our common stock pursuant to awards under the 2014 RSU Plan. As of September 30, 2016, 242 thousand shares are available for award under the 2014 RSU Plan.

Information about the RSU grants under the 2014 RSU Plan is as follows:

On January 2, 2015, we awarded approximately 10.3 thousand RSUs to each of our 4 non-employee directors which also allow for them to receive payment in cash, instead of stock, for up to 40% of each RSU award. Such awards vest 25% at the end of each calendar quarter in 2015. The portion of the RSU awards which are subject to cash settlement are also subject to marked-to market accounting and the liability recorded in the Company’s balance sheet as an estimate for such cash settlement was $45 thousand at December 31, 2015. Distributions of stock under the January 2, 2015 award could not be deferred until a later date and the stock under such awards was distributed on January 4, 2016.

On January 4, 2016, we awarded approximately 22.0 thousand RSUs to each of our 4 non-employee directors which also allow for them to receive payment in cash, instead of stock, for up to 40% of each RSU award. Such awards vest 25% at the end of each calendar quarter in 2016. The portion of the RSU awards which are subject to cash settlement are also subject to marked-to market accounting and the liability recorded in the Company’s balance sheet as an estimate for such cash settlement was $44 thousand at September 30, 2016. Distributions of stock under the January 4, 2016 award are generally distributed on the first business day of the year after vesting, but such distribution can be deferred until a later date at the election of the non-employee director.

Information about the distribution of shares under the 2014 RSU Plan is as follows:

On January 2, 2015, 25.8 thousand RSUs from the May 1, 2014 award were distributed and 3.6 thousand RSUs were deferred until a future distribution date. Of the 25.8 thousand RSUs distributed, 19.8 thousand RSUs were distributed in common stock and 6 thousand RSUs were settled in cash.

On January 4, 2016, 41.2 thousand RSUs from the January 2, 2015 award were distributed and 1.2 thousand RSUs from the May 1, 2014 award were distributed. Approximately 2.4 thousand RSUs from the May 1, 2014 award are being deferred until a future distribution date. Of the 42.4 thousand RSUs distributed, 32.8 thousand RSUs were distributed in common stock and 9.6 thousand RSUs were settled for $23.8 thousand.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References + Details

INCOME TAXES

9 Months Ended

Sep. 30, 2016

Income Tax Disclosure [Abstract]

INCOME TAXES

NOTE 15 – INCOME TAXES

We account for income taxes under the liability method. Under this method, deferred income tax assets and liabilities are determined based on differences between financial reporting and income tax basis of assets and liabilities and are accounted for using the enacted income tax rates and laws that will be in effect when the differences are expected to reverse. Additionally, net operating loss and tax credit carryforwards are reported as deferred income tax assets. The realization of deferred income tax assets is dependent upon future earnings. A valuation allowance is required against deferred income tax assets if, based on the weight of available evidence, it is more likely than not that some or all of the deferred income tax assets may not be realized. At September 30, 2016 and December 31, 2015, all our remaining net deferred income tax assets were offset by a valuation allowance due to uncertainties with respect to future utilization of net operating loss (“NOL”) carryforwards. If in the future it is determined that additional amounts of our deferred income tax assets would likely be realized, the valuation allowance would be reduced in the period in which such determination is made and an additional benefit from income taxes in such period would be recognized. We have approximately $52.8 million federal income tax benefits at December 31, 2015 derived from $155.2 million Federal NOLs at the U.S. statutory tax rate of 34% and $2.0 million state NOLs, available to offset future taxable income, some of which already have limitations for future use as prescribed under IRC Section 382. Our Federal and state NOLs will expire in varying amounts between 2016 and 2035 if not used, and those expirations will cause fluctuations in our valuation allowances. As of December 31, 2015, we had federal research and development tax credits of approximately $1.2 million, which expire in the years 2024 through 2034. We also had approximately $0.2 million of Indiana state research and development tax credits, which expire in the years 2016 and 2017.

EARNINGS PER SHARE ("EPS")

9 Months Ended

Sep. 30, 2016

Earnings Per Share [Abstract]

EARNINGS PER SHARE ("EPS")

NOTE 16 – EARNINGS PER SHARE (“EPS”)

Basic EPS is computed by dividing net income or loss by the weighted average common shares outstanding during a period, including shares weighted related to vested Restricted Stock Units (“RSUs”) (see Note 14). Diluted EPS is based on the treasury stock method and computed based on the same number of shares used in the basic share calculation and includes the effect from potential issuance of common stock, such as shares issuable pursuant to the exercise of stock options and stock warrants, assuming the exercise of all in-the-money stock options and warrants. Common stock equivalents are excluded from the computation where their inclusion would be anti-dilutive. No such adjustments were made for 2016 and 2015 as the Company reported a net loss for both the nine month and three month periods ending September 30 and including the effects of 1.3 million and 1.0 million common stock equivalents from those periods in the diluted EPS calculations would have been antidilutive.

A reconciliation of the numerators and denominators of basic and diluted EPS consisted of the following:

	Three months Ended September 30,				Nine months Ended September 30,
	2016		2015		2016		2015
EPS – basic and diluted
Numerator: net loss	$	(2,285)	$	(2,649)	$	(8,957)	$	(4,073)
Denominator (weighted):
Common shares		11,834		11,653		11,833		10,432
Vested RSUs		46		24		25		14
Basic and diluted weighted average shares outstanding		11,880		11,677		11,858		10,446
EPS – basic and diluted	$	(0.19)	$	(0.23)	$	(0.76)	$	(0.39)

Excluded securities (non-weighted):
Common shares issuable:
Stock options		1,198		895		1,198		895
Nonvested RSUs		22		10		22		10
Common stock warrants		60		60		60		60
Total excluded common shares		1,280		965		1,280		965

COMMITMENTS AND CONTINGENCIES

9 Months Ended

Sep. 30, 2016

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 17 – COMMITMENTS AND CONTINGENCIES

Reglan®/Metoclopramide Litigation

Halsey Drug Company, as predecessor to us, has been named along with numerous other companies as a defendant in cases filed in three separate state coordinated litigations pending in Pennsylvania, New Jersey and California, respectively captioned In re: Reglan®/Metoclopramide Mass Tort Litigation, Philadelphia County Court of Common Pleas, January Term, 2010, No. 01997; In re: Reglan Litigation, Superior Court of New Jersey, Law Division, Atlantic County, Case No. 289, Master Docket No. ATL-L-3865-10; and Reglan/Metoclopramide Cases, Superior Court of California, San Francisco County, Judicial Council Coordination Proceeding No. 4631, Superior Court No.: CJC-10-004631. In addition, Acura was served with a similar complaint by two individual plaintiffs in Nebraska federal court, which plaintiffs voluntarily dismissed in December 2014. In this product liability litigation against numerous pharmaceutical product manufacturers and distributors, including Acura, plaintiffs claim injuries from their use of the Reglan brand of metoclopramide and generic metoclopramide.

In the Pennsylvania action, over 200 lawsuits have been filed against Acura and Halsey Drug Company alleging that plaintiffs developed neurological disorders as a result of their use of the Reglan brand and/or generic metoclopramide. In the New Jersey action, plaintiffs filed approximately 150 lawsuits against us, but served less than 50 individual lawsuits upon us. In the California action, there are 89 pending cases against us, with more than 445 individual plaintiffs.

In the lawsuits filed to date, plaintiffs have not confirmed they ingested any of the generic metoclopramide manufactured by Acura. We discontinued manufacture and distribution of generic metoclopramide more than 19 years ago. In addition, we believe the June 23, 2011 decision by the U.S. Supreme Court in PLIVA v. Mensing (“Mensing decision”) holding that state tort law failure to warn claims against generic drug companies are pre-empted by the 1984 Hatch-Waxman Act Amendments and federal drug regulations will assist us in favorably resolving these cases.

In New Jersey, Generic Defendants, including Acura, filed dispositive motions based on the Mensing decision, which the Court granted with a limited exception. In June 2012, the New Jersey trial court dismissed all of the New Jersey cases pending against Acura with prejudice.

In Pennsylvania, and California, Generic Defendants, including Acura, also filed dispositive motions based on the Mensing decision.

In Pennsylvania, on November 18, 2011, the trial court denied Generic Defendants’ dispositive preemption motions, without prejudice. In July 2013, the Pennsylvania Superior Court issued an adverse decision, and a subsequent appeal to the Pennsylvania Supreme Court was denied. On December 16, 2014, the Generic Defendants filed a Joint Petition for Certiorari with the United States Supreme Court captioned Teva Pharmaceuticals USA, Inc. et al. v. Dorothy Bentley, et al., No. 14-711 (U.S.) seeking reversal of the Pennsylvania state court decision. On April 27, 2015, the U.S. Supreme Court denied this Petition and this matter has been returned to the trial court for further proceedings. From July, 2015 to date, the court has been moving forward with procedural steps to narrow this litigation, including requests for plaintiffs to voluntarily discontinue cases, such as those filed against Acura, where there is no case-specific product identification. Acura expects that voluntary stipulations of dismissal of the vast majority, if not all, of these cases will be filed and approved by the trial court before the close of the 2016 calendar year. Acura is optimistic that any remaining Philadelphia cases will eventually be dismissed against it based upon the favorable aspects of the Superior Court’s narrow preemption ruling and lack of product identification, although there can be no assurance in this regard. Legal fees related to this matter are currently covered by Acura’s insurance carrier.

In California, the trial court entered a May 25, 2012 Order denying Generic Defendants’ dispositive preemption motions. The Generic Defendants’ appeals from this order were denied by the California appellate courts. In May 2014, the California Court denied a subsequent demurrer and motion to strike seeking dismissal of plaintiffs’ manufacturing defect and defective product claims to the extent that they are barred by federal preemption based upon the June 2013 Bartlett decision. Thus far, Acura and most Generic Defendants have not been required to file answers or other responsive pleadings in each individual case in which they are named defendants. On May 24, 2016, the Court entered an Order approving a stipulation which stays the individual cases against Acura and provides for an agreed upon dismissal protocol for all cases where is a lack of product identification. To date, none of these plaintiffs have confirmed they ingested any of the generic metoclopramide manufactured by Acura. Therefore, we expect that the lawsuits filed by most, if not all, plaintiffs will be dismissed voluntarily. Action will be taken in an effort to dismiss Acura from these cases, although there can be no assurance in this regard. Legal fees related to this matter are currently covered by our insurance carrier.

As any potential loss is neither probable nor estimable, we have not accrued for any potential loss related to these matters as of September 30, 2016 and we are presently unable to determine if any potential loss would be covered by our insurance carrier.

Purdue Pharma Settlement

In April 2015, Purdue Pharma L.P., Purdue Pharmaceuticals L.P. and The P.F. Laboratories, Inc. (collectively, “Purdue”) commenced a patent infringement lawsuit against us and our Oxaydo product licensee Egalet US, Inc. and its parent Egalet Corporation in the United States District Court for the District of Delaware alleging our Oxaydo product infringes Purdue’s U.S. Patent No. 8,389,007 (the “ 007 patent”). In April 2016, Purdue commenced a second patent infringement lawsuit against us and Egalet in the United States District Court for the District of Delaware alleging our Oxaydo product infringes Purdue’s newly issued U.S. Patent No. 9,308,171 (the “171 Patent”). The actions regarding the 007 Patent and the 171 Patent are collectively referred to as the “Actions”. On April 6, 2016, we filed a petition for Inter Partes Review (the “IPR Review”) with the U.S. Patent and Trademark Office (“USPTO”) seeking to invalidate Purdue’s 007 Patent.

On May 20, 2016, Purdue on behalf of themselves and certain affiliates, Egalet Corporation, on behalf of itself and its affiliates and we, on behalf of ourselves and our affiliates entered into a settlement agreement (the “Settlement Agreement”) to settle the Actions and the IPR Review. Under the Settlement Agreement the parties dismissed or withdrew the Actions, requested that the USPTO terminate the IPR Review and exchanged mutual releases. No payments were made under the Settlement Agreement.

The Settlement Agreement also provides that Purdue will not, in the future, assert certain Purdue U.S. patents, including the 007 Patent, the 171 Patent and related technologies (the “Purdue Patents”) against any Acura Settlement Product or Egalet Settlement Product (except generally in an action or interference by Acura or Egalet challenging a Purdue Patent). Acura Settlement Products and Egalet Settlement Products are certain immediate-release and extended-release products, including Oxaydo. In addition, the Settlement Agreement provides that Purdue will not challenge, with certain exceptions, the Acura/Egalet Patents with respect to the Purdue Settlement Products (as defined below) and that Purdue provides Acura and/or Egalet certain waivers of non-patent marketing exclusivity with respect to Purdue Settlement Products.

The Settlement Agreement also provides that Acura and Egalet will not, in the future, assert certain Acura and/or Egalet U.S. patents (the “Acura/Egalet Patents”), including Acura’s Aversion® Technology patents, against any Purdue Settlement Products (except generally in an action or interference by Purdue challenging an Acura/Egalet Patent). Purdue Settlement Products are certain immediate-release and extended-release products. In addition, the Settlement Agreement provides that Acura and Egalet will not challenge, with certain exceptions, the Purdue Patents with respect to the Acura Settlement Products and Egalet Settlement Products and that Acura and Egalet provide Purdue certain waivers of non-patent marketing exclusivity with respect to the Acura Settlement Products and Egalet Settlement Products. In addition, Purdue has certain rights to negotiate to exclusively distribute an authorized generic version of certain Egalet Settlement Products, including, in some circumstances, Oxaydo® and other products using Acura’s Aversion® Technology if licensed to Egalet.

The Settlement Agreement specifically excludes our patents related to our Impede® and Limitx™ technologies from the scope of the Acura/Egalet Patents under the Settlement Agreement.

In December 2014, the Company entered into an agreement with Purdue Pharma L.P. to settle a patent interference action regarding certain intellectual property held by Acura (U.S. Patent No. 8,101,630). The dispute centered upon the issue of which company has priority in developing the invention. The parties agreed to forgo protracted litigation and the uncertainties arising therefrom by entering an agreement whereby the Company conceded Purdue Pharma’s claim of priority in exchange for certain financial consideration to us including an immediate non-refundable payment of $500 thousand. In June 2015, the Company received an additional $250 thousand payment from Purdue Pharma relating to the December 2014 agreement.

Egalet Agreement

In accordance with the Egalet Agreement, we and Egalet have formed a joint steering committee to coordinate commercialization strategies and the development of product line extensions. Egalet is responsible for the fees and expenses relating to the Oxaydo NDA and product line extensions of Oxaydo, provided that Egalet will pay a substantial majority of the expenses and we will pay for the remaining fees and expenses relating to (i) annual NDA PDUFA product fees, (ii) expenses of the FDA required post-marketing study for Oxaydo and (iii) expenses of clinical studies for product line extensions (additional strengths) of Oxaydo for the United States. Egalet will bear all of the expenses of development and regulatory approval of Oxaydo for sale outside the United States. Egalet is responsible for all manufacturing and commercialization activities in the Territory for Oxaydo. Subject to certain exceptions, Egalet will have final decision making authority with respect to all development and commercialization activities for Oxaydo, including pricing, subject to our co-promotion right. Egalet may develop Oxaydo for other countries and in additional strengths, in its discretion. At September 30, 2016, we have accrued approximately $200 thousand of cost sharing expenses of certain clinical studies for product line extensions (additional strengths) of Oxaydo for the United States under the Egalet Agreement and approximately $100 thousand of cost sharing expenses of the FDA required post-marketing study for Oxaydo under the Egalet Agreement.

Facility Lease

The Company leases administrative office space in Palatine, Illinois under a lease expiring March 31, 2017 for approximately $25 thousand annually.

INVESTMENTS IN MARKETABLE SECURITIES (Tables)

9 Months Ended

Sep. 30, 2016

Investments, Debt and Equity Securities [Abstract]

Marketable securities

We had no investments at September 30, 2016. Investments in marketable securities at December 31, 2015 consisted of the following:

	December 31, 2015
	(in millions)
Marketable securities:
Corporate bonds - maturing within 1 year	$	3.1
Corporate bonds - maturing after 1 year and less than two years		0.4
Exchange-traded funds		7.3
Total marketable securities	$	10.8

Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value

The following tables provide a summary of the fair value and unrealized gains (losses) related to the Company’s available-for-sale securities at December 31, 2015:

	December 31, 2015
	(in millions)
	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available-for-sale:
Corporate bonds	$	3.6	$	-	$	(0.1)	$	3.5
Exchange-traded funds		7.3		-		-		7.3
Total - Current	$	10.9	$	-	$	(0.1)	$	10.8

Fair Value, Assets Measured on Recurring Basis

Our assets measured at fair value or disclosed at fair value on a recurring basis at December 31, 2015 consisted of the following:

	December 31, 2015
	(in millions)
	Total		Level 1		Level 2		Level 3
Assets:
Corporate bonds	$	3.5	$	-	$	3.5	$	-
Exchange-traded funds		7.3		7.3		-		-
Total	$	10.8	$	7.3	$	3.5	$	-

INVENTORIES (Tables)

9 Months Ended

Sep. 30, 2016

Inventory Disclosure [Abstract]

Inventories

Inventories are summarized as follows:

	September 30,		December 31,
	2016		2015
	(in thousands)
Raw and packaging materials	$	98	$	-
Finished goods		358		346
Total		456		346
Less: reserve for finished goods		(32)		(70)
Net inventory	$	424	$	276

Inventory Reserve

Inventory reserve activity during the nine months ended September 30, 2016 and 2015 was as follows:

	2016		2015
	(in thousands)
Reserve balance at January 1st,	$	70	$	-
Reserve expense – raw and packaging materials		-		260
Reserve expense – finished goods		26		47
		96		307
Inventory destruction – raw and packaging materials		-		(260)
Inventory destruction - finished goods		(64)		-
Reserve balance at September 30th,	$	32	$	47

PROPERTY, PLANT AND EQUIPMENT (Tables)

9 Months Ended

Sep. 30, 2016

Property, Plant and Equipment [Abstract]

Property Plant and Equipment

The estimated useful lives of the major classification of depreciable assets are:

Building and improvements		10 - 40 years
Land and improvements		20 - 40 years
Machinery and equipment		7 - 10 years
Scientific equipment		5 - 10 years
Computer hardware and software		3 - 10 years

DEBT (Tables)

9 Months Ended

Sep. 30, 2016

Debt Disclosure [Abstract]

Schedule Of Fair Value Of Warrants

The fair value of the warrants was determined using the Black-Scholes option-pricing model. Significant assumptions used in the Black-Scholes model were:

Expected dividend yield	0.0	%
Risk-free interest rate	2.4	%
Expected volatility	92	%
Expected term (years)	7

Schedule of Debt

Our debt is summarized below (in thousands):

Long-term Debt	Current		Long-term		Total
Balance at Dec 31, 2015	$	2,320	$	5,720	$	8,040
Principal payments		(1,670)		-		(1,670)
Classification		2,035		(2,035)		-
Balance at September 30, 2016	$	2,685	$	3,685	$	6,370

Debt Discount	Current		Long-term		Total
Balance at Dec 31, 2015	$	-	$	(193)	$	(193)
Modification of warrants		-		-		-
Amortization expense		-		74		74
Balance at September 30, 2016	$	-	$	(119)	$	(119)

Deferred Debt Issuance Costs	Current		Long-term		Total
Balance at Dec 31, 2015	$	-	$	(97)	$	(97)
Amortization expense		-		39		39
Balance at September 30, 2016	$	-	$	(58)	$	(58)

Long-term Debt, net at September 30, 2016	$	2,685	$	3,508	$	6,193

Schedule of Interest Expense

Our interest expense for the three and nine months ended September 30, 2016 and 2015 consisted of the following (in thousands):

	Three months Ended September 30,				Nine months Ended September 30,
	2016		2015		2016		2015
Interest expense:
Term loan	$	180	$	236	$	584	$	748
Debt discount		23		31		74		94
Debt issue costs		12		16		39		50
Total interest expense	$	215	$	283	$	697	$	892

Schedule Of Long Term Debt Future Principal Payments Year

The annual principal payments of the debt at September 30, 2016 are as follows:

	Annual Principal Payments
Calendar Year	(in thousands)
2016	$	651
2017		2,741
2018		2,978
Total	$	6,370

COMMON STOCK WARRANTS (Tables)

9 Months Ended

Sep. 30, 2016

Stockholders Equity Note [Abstract]

Schedule Of Common Stock Warrant Activity

Our warrant activity during the nine month periods ended September 30, 2016 and 2015 is shown below (in thousands except price data):

	Nine months Ended September 30,
	2016				2015
	Number		WAvg Exercise Price		Number		WAvg Exercise Price
Outstanding, beginning		60	$	2.52		60	$	7.98
Issued		-		-		-		-
Exercised		-		-		-		-
Expired		-		-		-		-
Modification		-		-		-		(5.46)
Outstanding, ending		60	$	2.52		60	$	2.52

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References + Details

SHARE-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2016

Summary Of Information About Non Vested Stock Options Disclosure Abstract [Abstract]

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

Our share-based compensation expense recognized in the Company’s results of operations from all types of issued instruments comprised the following (in thousands):

	Three months Ended September 30,				Nine months Ended September 30,
	2016		2015		2016		2015
Research and development expense:
Stock options	$	43	$	39	$	128	$	117
Restricted stock units		-		-		-		-
Subtotal	$	43	$	39	$	128	$	117

General and administrative expense:
Stock options	$	77	$	107	$	232	$	293
Restricted stock units		30		4		90		51
Subtotal	$	107	$	111	$	322	$	344

Total	$	150	$	150	$	450	$	461

Schedule of Share-based Compensation, Stock Options, Activity

Our stock option award activity during the nine month periods ended September 30, 2016 and 2015 is shown below:

	Nine months Ended September 30,
	2016				2015
	Number of Options (000’s)		Weighted Average Exercise Price		Number of Options (000’s)		Weighted Average Exercise Price
Outstanding, beginning		1,198	$	15.67		911	$	20.70
Granted		-		-		-		-
Exercised		-		-		-		-
Forfeited or expired		-		-		(16)		24.50
Outstanding, ending		1,198	$	15.67		895	$	20.66
Options exercisable		1,000	$	18.37		779	$	23.21

Schedule of Share-based Compensation, Restricted Stock Units Award Activity

A summary of the grants under the RSU Plans consisted of the following:

	Nine months Ended September 30,
	2016				2015
	(in thousands)
	Number of RSUs		Number of Vested RSUs		Number of RSUs		Number of Vested RSUs
Outstanding, beginning		45		45		29		29
Granted		88		-		42		-
Distributed		(42)		(42)		(26)		(26)
Vested		-		66		-		32
Forfeited or expired		-		-		-		-
Outstanding, ending		91		69		45		35

EARNINGS PER SHARE ("EPS") (Tables)

9 Months Ended

Sep. 30, 2016

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

A reconciliation of the numerators and denominators of basic and diluted EPS consisted of the following:

	Three months Ended September 30,				Nine months Ended September 30,
	2016		2015		2016		2015
EPS – basic and diluted
Numerator: net loss	$	(2,250)	$	(2,649)	$	(8,922)	$	(4,073)
Denominator (weighted):
Common shares		11,834		11,653		11,833		10,432
Vested RSUs		46		24		25		14
Basic and diluted weighted average shares outstanding		11,880		11,677		11,858		10,446
EPS – basic and diluted	$	(0.19)	$	(0.23)	$	(0.75)	$	(0.39)

Excluded securities (non-weighted):
Common shares issuable:
Stock options		1,198		895		1,198		895
Nonvested RSUs		22		10		22		10
Common stock warrants		60		60		60		60
Total excluded common shares		1,280		965		1,280		965

LIQUIDITY MATTERS - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended		9 Months Ended
	Oct. 31, 2016	Jun. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Jan. 31, 2017	Dec. 31, 2015	Dec. 31, 2014
Restricted Cash and Investments, Total			$ 2,500		$ 2,500
Cash, Cash Equivalent And Marketable Securities			1,800		1,800
Retained Earnings (Accumulated Deficit), Total			(376,232)		(376,232)			$ (367,310)
Operating Income (Loss), Total			(2,069)	$ (2,405)	(8,286)	$ (3,291)
Net Income (Loss) Attributable to Parent, Total			(2,250)	(2,649)	(8,922)	(4,073)
Cash and Cash Equivalents, at Carrying Value, Total			$ 4,272	$ 3,324	$ 4,272	$ 3,324		$ 2,485	$ 774
Proceeds from License Fees Received		$ 250
Subsequent Event [Member]
Restricted Cash and Investments, Total	$ 2,500
Debt Instrument, Debt Default, Amount	2,500
Cash and Cash Equivalents, at Carrying Value, Total	$ 4,200
Substantial Doubt about Going Concern, Conditions or Events	We anticipate that unless the Company raises approximately $10.0 million prior to the completion of the audit of our 2016 financial statements
Proceeds from License Fees Received	$ 3,500
Projected Capital Raise	$ 10,000
Oxford term loan agreement [Member] \| Scenario, Forecast [Member]
Debt Instrument, Debt Default, Amount							$ 2,500

LICENSE, DEVELOPMENT, AND COMMERCIALIZATION AGREEMENTS - Additional Information (Detail) - USD ($) $ in Thousands		1 Months Ended		9 Months Ended		12 Months Ended
	Oct. 09, 2015	Oct. 31, 2016	Jun. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015	Apr. 30, 2014
License Development and Commercialization Agreement [Line Items]
Agreement Termination Notice Description				Egalet may terminate the Egalet Agreement for convenience on 120 days prior written notice, which termination may not occur prior to the second anniversary of Egalets launch of Oxaydo. Termination does not affect a partys rights accrued prior thereto, but there are no stated payments in connection with termination other than payments of obligations previously accrued. For all terminations (but not expiration), the Egalet Agreement provides for the transition of development and marketing of Oxaydo from Egalet to us, including the conveyance by Egalet to us of the trademarks and all regulatory filings and approvals relating to Oxaydo, and for Egalets supply of Oxaydo for a transition period.
Retail Related Inventory, Total					$ 260		$ 260
Amortization of Intangible Assets				$ 155	$ 155
Proceeds from License Fees Received			$ 250
Finite-Lived Intangible Assets, Gross				1,500
Subsequent Event [Member]
License Development and Commercialization Agreement [Line Items]
Proceeds from License Fees Received		$ 3,500
Subsequent Event [Member] \| KemPharm Agreement [Member]
License Development and Commercialization Agreement [Line Items]
Proceeds From Upfront Payment		3,500
Pfizer Agreement
License Development and Commercialization Agreement [Line Items]
Payment for Termination				$ 2,000		$ 2,000
Egalet Agreement
License Development and Commercialization Agreement [Line Items]
Minimum Net Sales Reaching Description				one-time $12.5 million milestone payment when worldwide Oxaydo net sales reach $150 million in a calendar year.
Licenses Revenue	$ 5,000
Proceeds from Milestone Payment On Agreement	$ 2,500
Minimum \| Subsequent Event [Member] \| KemPharm Agreement [Member]
License Development and Commercialization Agreement [Line Items]
Additional Upfront payment Receivable		$ 1,000

REVENUE RECOGNITION - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended			9 Months Ended
	Oct. 31, 2016	Sep. 30, 2016	Sep. 30, 2015	Mar. 31, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Deferred Sales Inducements, Additions				$ 314
Sales Returns Liability		$ 288			$ 288		$ 205
Other Revenue, Net		74	$ 95		307	$ 95
Royalty Revenue, Total		39	0		86	0
Cost of Revenue, Total				255
License and Services Revenue		$ 0	$ 0		$ 0	$ 5,250
KemPharm Agreement [Member] \| Subsequent Event [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Proceeds From Upfront Payment	$ 3,500
Allowance for Sales Returns [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Sales Returns and Allowances, Goods				$ 120

RESEARCH AND DEVELOPMENT ACTIVITIES - Additional Information (Detail) - Contract Research Organization [Member] - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Contract Manufacturing Services Value		$ 200
Research and Development Arrangement, Contract to Perform for Others, Costs Incurred, Gross	$ 46	$ 200

INVESTMENTS IN MARKETABLE SECURITIES - Summary of Investments in Marketable Securities (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Marketable securities:
Corporate bonds - maturing within 1 year		$ 3,100
Corporate bonds - maturing after 1 year and less than two years		400
Total marketable securities	$ 0	10,837
Exchange-traded funds
Marketable securities:
Total marketable securities		$ 7,300

INVESTMENTS IN MARKETABLE SECURITIES - Fair Value and Unrealized Gains (Losses) related to the Company's Available-For-Sale Securities (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Available-for-sale:
Cost		$ 10,900
Gross Unrealized Gains		0
Gross Unrealized Losses		(100)
Marketable securities (Note 7)	$ 0	10,837
Corporate Bonds
Available-for-sale:
Cost		3,600
Gross Unrealized Gains		0
Gross Unrealized Losses		(100)
Marketable securities (Note 7)		3,500
Exchange-traded funds
Available-for-sale:
Cost		7,300
Gross Unrealized Gains		0
Gross Unrealized Losses		0
Marketable securities (Note 7)		$ 7,300

INVESTMENTS IN MARKETABLE SECURITIES - Assets Measured at Fair Value or Disclosed at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Assets:
Total marketable securities	$ 0	$ 10,837
Corporate bonds
Assets:
Total marketable securities		3,500
Exchange-traded funds
Assets:
Total marketable securities		7,300
Fair Value, Inputs, Level 1
Assets:
Total marketable securities		7,300
Fair Value, Inputs, Level 1 \| Corporate bonds
Assets:
Total marketable securities		0
Fair Value, Inputs, Level 1 \| Exchange-traded funds
Assets:
Total marketable securities		7,300
Fair Value, Inputs, Level 2
Assets:
Total marketable securities		3,500
Fair Value, Inputs, Level 2 \| Corporate bonds
Assets:
Total marketable securities		3,500
Fair Value, Inputs, Level 2 \| Exchange-traded funds
Assets:
Total marketable securities		0
Fair Value, Inputs, Level 3
Assets:
Total marketable securities		0
Fair Value, Inputs, Level 3 \| Corporate bonds
Assets:
Total marketable securities		0
Fair Value, Inputs, Level 3 \| Exchange-traded funds
Assets:
Total marketable securities		$ 0

INVENTORIES - Schedule of Inventories (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014
Inventory [Line Items]
Raw and packaging materials	$ 98	$ 0
Finished goods	358	346
Total	456	346
Less: reserve for finished goods	(32)	(70)	$ (47)	$ 0
Net inventory	$ 424	$ 276

INVENTORIES - Inventory Reserve (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Inventory [Line Items]
Reserve balance at January 1st,	$ 70	$ 0
Reserve expense - raw and packaging materials	0	260
Reserve expense - finished goods	26	47
Inventory Reserve Expense	96	307
Inventory destruction - raw and packaging materials	0	(260)
Inventory destruction - finished goods	(64)	0
Reserve balance at September 30th,	$ 32	$ 47

PROPERTY, PLANT AND EQUIPMENT (Detail)	9 Months Ended
PROPERTY, PLANT AND EQUIPMENT (Detail)	Sep. 30, 2016
Building and improvements \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Building and improvements \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	40 years
Land and improvements \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	20 years
Land and improvements \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	40 years
Machinery and equipment \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	7 years
Machinery and equipment \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Scientific equipment \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Scientific equipment \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Computer hardware and software \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Computer hardware and software \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years

PROPERTY, PLANT AND EQUIPMENT - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Depreciation	$ 104	$ 92
Property, Plant and Equipment, Gross	2,821		$ 2,754
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 1,842		$ 1,741

ACCRUED EXPENSES (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Accounts Payable and Accrued Liabilities [Line Items]
Payroll, payroll taxes, and benefits	$ 86	$ 101
Professional services	198	171
Franchise and property taxes	20	21
Marketing and promotion	35	115
Clinical, non-clinical and regulatory services	44	92
Licensee cost sharing expenses	325	0
Other fees and services	28	64
Total	$ 736	$ 564

DEBT - Fair Value of Warrants using the Black-Scholes option-pricing model (Detail)	9 Months Ended
	Sep. 30, 2016
Fair Value Of Warrants [Line Items]
Expected dividend yield	0.00%
Risk-free interest rate	2.40%
Expected volatility	92.00%
Expected term (years)	7 years

DEBT - Summary of Debt (Detail) $ in Thousands	9 Months Ended
DEBT - Summary of Debt (Detail) $ in Thousands	Sep. 30, 2016 USD ($)
Long-term Debt
Balance at Dec 31, 2015	$ 8,040
Classification	0
Balance at September 30, 2016	6,370
Debt Discount
Balance at Dec 31, 2015	(193)
Modification of warrants	0
Amortization expense	74
Balance at September 30, 2016	(119)
Deferred Debt Issuance Costs
Balance at Dec 31, 2015	(97)
Amortization expense	39
Balance at September 30, 2016	(58)
Long-term Debt, net at June 30, 2016	6,193
Loan Agreement [Member]
Long-term Debt
Principal payments	(1,670)
Long-term [Member]
Long-term Debt
Balance at Dec 31, 2015	5,720
Classification	(2,035)
Balance at September 30, 2016	3,685
Debt Discount
Balance at Dec 31, 2015	(193)
Modification of warrants	0
Amortization expense	74
Balance at September 30, 2016	(119)
Deferred Debt Issuance Costs
Balance at Dec 31, 2015	(97)
Amortization expense	39
Balance at September 30, 2016	(58)
Long-term Debt, net at June 30, 2016	3,508
Long-term [Member] \| Loan Agreement [Member]
Long-term Debt
Principal payments	0
Current [Member]
Long-term Debt
Balance at Dec 31, 2015	2,320
Classification	2,035
Balance at September 30, 2016	2,685
Debt Discount
Balance at Dec 31, 2015	0
Modification of warrants	0
Amortization expense	0
Balance at September 30, 2016	0
Deferred Debt Issuance Costs
Balance at Dec 31, 2015	0
Amortization expense	0
Balance at September 30, 2016	0
Long-term Debt, net at June 30, 2016	2,685
Current [Member] \| Loan Agreement [Member]
Long-term Debt
Principal payments	$ (1,670)

DEBT - Interest Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
DEBT - Interest Expense (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Interest expense:
Term Loan	$ 180	$ 236	$ 584	$ 748
Debt discount	23	31	74	94
Debt issue costs	12	16	39	50
Total interest expense	$ 215	$ 283	$ 697	$ 892

DEBT - Long-Term Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
2016	$ 651
2017	2,741
2018	2,978
Total	$ 6,370	$ 8,040

DEBT - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		1 Months Ended	3 Months Ended		9 Months Ended
	Jan. 07, 2015	Oct. 31, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015	Dec. 31, 2013	Dec. 27, 2013
Debt Instrument [Line Items]
Debt instrument principal amount									$ 10,000
Debt default long term debt percentage									13.35%
Debt instrument, fee amount			$ 50		$ 50
Debt consulting placement fee					100
Debt related commitment fees and debt issuance costs			12	$ 16	39	$ 50
Debt instrument unamortized discount			119		119		$ 193
Debt instrument Cash Maintenance	$ 2,500
Repayments of Debt					1,671	$ 1,160
Additions To Debt Instrument Unamortized Discount					0
Interest Payable, Current			44		44		$ 0
Long-term Debt			$ 6,193		$ 6,193
Loan Agreement [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage									8.35%
Debt Instrument, Maturity Date					Dec. 01, 2018
Repayments of Debt	$ 5,000
Debt Instrument, Periodic Payment					$ 260
Debt instrument, periodic payment, principal					$ 1,670
Debt Instrument, Interest Rate, Effective Percentage			10.16%		10.16%
Projected Capital Raise			$ 10,000
Term Loan [Member]
Debt Instrument [Line Items]
Interest Payable, Current			519		$ 519
Long-term Debt			6,400		6,400
Maximum [Member] \| Loan Agreement [Member]
Debt Instrument [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 7.98
Minimum [Member] \| Loan Agreement [Member]
Debt Instrument [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 2.52
Subsequent Event [Member]
Debt Instrument [Line Items]
Proceeds from Issuance or Sale of Equity		$ 6,000
Projected Capital Raise		10,000
Subsequent Event [Member] \| Loan Agreement [Member]
Debt Instrument [Line Items]
Debt instrument Cash Maintenance		2,500
Repayments of Debt		5,000
Subsequent Event [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Proceeds from Issuance or Sale of Equity		$ 3,000
Warrant
Debt Instrument [Line Items]
Debt instrument unamortized discount			$ 400		$ 400
Warrants to purchase common stock			60		60
Class of Warrant or Right, Exercise Price of Warrants or Rights			$ 2.52		$ 2.52			$ 2.52
Additions To Debt Instrument Unamortized Discount	$ 33
Warrant \| Loan Agreement [Member]
Debt Instrument [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights			$ 7.98		$ 7.98
Warrants, expiry date					December 27, 2020
First Revenue Event Occurs
Debt Instrument [Line Items]
Debt instrument periodic payment terms balloon payment to be paid			$ 795		$ 795
Prior To December 27 2015
Debt Instrument [Line Items]
Debt instrument prepayment percentage					1.00%
Oxford Finance LLC [Member] \| Loan Agreement [Member]
Debt Instrument [Line Items]
Debt instrument, periodic payment, principal					$ 3,600

COMMON STOCK WARRANTS - Schedule Of Common Stock Warrant Activity (Detail) - Warrant [Member] - $ / shares shares in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Number of Options
Number of Options Outstanding, beginning	60	60
Number of Options, Issued	0	0
Number of Options, Exercised	0	0
Number of Options, Expired	0	0
Number of Options, Modification	0	0
Number of Options Outstanding, ending	60	60
Weighted Average Exercise Price
Weighted Average Exercise Price, beginning	$ 2.52	$ 7.98
Weighted Average Exercise Price, Issued	0	0
Weighted Average Exercise Price, Exercised	0	0
Weighted Average Exercise Price, Expired	0	0
Weighted Average Exercise Price, Modification	0	(5.46)
Weighted Average Exercise Price, ending	$ 2.52	$ 2.52

COMMON STOCK WARRANTS - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	Sep. 30, 2016	Dec. 31, 2013
Class of Warrant or Right [Line Items]
Secured Debt		$ 10.0
Warrant
Class of Warrant or Right [Line Items]
Common stock warrant exercisable outstanding, shares	60
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 2.52	$ 2.52

SHARE-BASED COMPENSATION - Recognition of Share-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
SHARE-BASED COMPENSATION - Recognition of Share-Based Compensation Expense [Line Items]
Research and development expense	$ 841	$ 432	$ 3,258	$ 1,907
Total	150	150	450	461
Research and Development Expense [Member]
SHARE-BASED COMPENSATION - Recognition of Share-Based Compensation Expense [Line Items]
Research and development expense	43	39	128	117
General and Administrative Expense [Member]
SHARE-BASED COMPENSATION - Recognition of Share-Based Compensation Expense [Line Items]
General and administrative expense	107	111	322	344
Employee Stock Option [Member] \| Research and Development Expense [Member]
SHARE-BASED COMPENSATION - Recognition of Share-Based Compensation Expense [Line Items]
Research and development expense	43	39	128	117
Employee Stock Option [Member] \| General and Administrative Expense [Member]
SHARE-BASED COMPENSATION - Recognition of Share-Based Compensation Expense [Line Items]
General and administrative expense	77	107	232	293
Restricted Stock Units (RSUs) [Member] \| Research and Development Expense [Member]
SHARE-BASED COMPENSATION - Recognition of Share-Based Compensation Expense [Line Items]
Research and development expense	0	0	0	0
Restricted Stock Units (RSUs) [Member] \| General and Administrative Expense [Member]
SHARE-BASED COMPENSATION - Recognition of Share-Based Compensation Expense [Line Items]
General and administrative expense	$ 30	$ 4	$ 90	$ 51

SHARE-BASED COMPENSATION - Stock Option Award Activity (Detail) - Employee Stock Option [Member] - $ / shares shares in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
SHARE-BASED COMPENSATION - Stock Option Award Activity [Line Items]
Number of Options Outstanding, beginning	1,198	911
Number of Options, Granted	0	0
Number of Options, Exercised	0	0
Number of Options, Forfeited or expired	0	(16)
Number of Options Outstanding, ending	1,198	895
Number of Options exercisable	1,000	779
Weighted Average Exercise Price, beginning	$ 15.67	$ 20.7
Weighted Average Exercise Price, Granted	0	0
Weighted Average Exercise Price, Exercised	0	0
Weighted Average Exercise Price, Forfeited or expired	0	24.5
Weighted Average Exercise Price, ending	15.67	20.66
Weighted Average Exercise Price, Options exercisable	$ 18.37	$ 23.21

SHARE-BASED COMPENSATION - Summary of RSU Plan (Detail) - shares shares in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Restricted Stock Units [Member]
Share Based Compensations Summary Of RSUs Plan [Line Items]
Outstanding, beginning	45	29
Granted	88	42
Distributed	(42)	(26)
Vested	0	0
Forfeited or expired	0	0
Outstanding, ending	91	45
Vested Restricted Stock Units [Member]
Share Based Compensations Summary Of RSUs Plan [Line Items]
Outstanding, beginning	45	29
Granted	0	0
Distributed	(42)	(26)
Vested	66	32
Forfeited or expired	0	0
Outstanding, ending	69	35

SHARE-BASED COMPENSATION - Additional Information (Detail) - USD ($)			8 Months Ended	9 Months Ended		12 Months Ended	20 Months Ended
	Jan. 04, 2016	Jan. 02, 2015	Jan. 02, 2015	Sep. 30, 2016	Sep. 30, 2015	Jan. 04, 2016	Jan. 04, 2016	Dec. 31, 2015	May 01, 2014
Employee Benefit Plans Disclosure [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value				$ 0				$ 6,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total				$ 351,000
Share Based Compensation Arrangement Share Based Payment Shares Reserved For Future Distribution							2,400
Stock Issued During Period, Value, Restricted Stock Award, Gross	$ 23,800
Total Restricted Stock Unit Award Plan [Member]
Employee Benefit Plans Disclosure [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	42,400
2014 Restricted Stock Unit Award Plan [Member]
Employee Benefit Plans Disclosure [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant									400,000
Share-based Compensation Arrangement by Share-based Payment Award, Shares Purchased for Award				242,000
Share Based Compensation Arrangement Share Based Payment Shares Reserved For Future Distribution			3,600
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period			25,800			41,200	1,200
2014 Restricted Stock Unit Award Plan [Member] \| Settled In Cash [Member]
Employee Benefit Plans Disclosure [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	9,600		6,000
2014 Restricted Stock Unit Award Plan [Member] \| Convertible Common Stock [Member]
Employee Benefit Plans Disclosure [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	32,800		19,800
2014 Restricted Stock Unit Award Plan [Member] \| Four Non Employee Directors [Member]
Employee Benefit Plans Disclosure [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	22,000	10,300
Deferred Compensation Arrangement with Individual, Recorded Liability				$ 44,000				$ 45,000
Share-based Compensation Arrangement by Share-based Payment Award, Description	stock, for up to 40%	stock, for up to 40%
2014 Restricted Stock Unit Award Plan [Member] \| Four Non Employee Directors [Member] \| Share-based Compensation Award, Tranche One [Member]
Employee Benefit Plans Disclosure [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage				25.00%	25.00%
Stock Option Plans [Member]
Employee Benefit Plans Disclosure [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant				615,000

INCOME TAXES - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Income Tax Disclosure [Line Items]
Federal income tax benefits		$ 52.8
Federal NOLs		$ 155.2
U.S. statutory tax rate		34.00%
State income tax benefits		$ 2.0
Federal Research and Development
Income Tax Disclosure [Line Items]
Research and development tax credits		1.2
Research and development expiration period	which expire in the years 2024 through 2034
Indiana State Research and Development
Income Tax Disclosure [Line Items]
Research and development tax credits		$ 0.2
Research and development expiration period	which expire in the years 2016 and 2017
Maximum
Income Tax Disclosure [Line Items]
NOL expiration year		2035
Minimum
Income Tax Disclosure [Line Items]
NOL expiration year		2016

EARNINGS PER SHARE ("EPS") - Reconciliation of Numerators and Denominators of Basic and Diluted EPS (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
EPS - basic and diluted
Numerator: net loss	$ (2,250)	$ (2,649)	$ (8,922)	$ (4,073)
Denominator (weighted):
Common shares	11,834	11,653	11,833	10,432
Vested RSUs	46	24	25	14
Basic and diluted weighted average shares outstanding	11,880	11,677	11,858	10,446
EPS - basic and diluted	$ (0.19)	$ (0.23)	$ (0.75)	$ (0.39)
Common shares issuable:
Total excluded common shares	1,280	965	1,280	965
Stock options
Common shares issuable:
Total excluded common shares	1,198	895	1,198	895
Nonvested RSUs
Common shares issuable:
Total excluded common shares	22	10	22	10
Common stock warrants
Common shares issuable:
Total excluded common shares	60	60	60	60

EARNINGS PER SHARE ("EPS") - Additional Information (Detail) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive Securities Excluded From Computation Of Earnings Per Share, Amount	1,280	965	1,280	965

COMMITMENTS AND CONTINGENCIES - Additional Information (Detail) $ in Thousands	1 Months Ended	9 Months Ended	12 Months Ended
	Jun. 30, 2015 USD ($)	Sep. 30, 2016 USD ($)	Dec. 31, 2014 USD ($)
Commitments and Contingencies Disclosure [Line Items]
Accrued Cost Sharing Expenses Clinical Studies		$ 100
Accrued Cost Sharing Expenses, Post Marketing Study		$ 200
Purdue Pharma [Member]
Commitments and Contingencies Disclosure [Line Items]
Litigation Settlement, Expense	$ 250		$ 500
Pennsylvania State
Commitments and Contingencies Disclosure [Line Items]
Number of lawsuits filed		200
New Jersey State
Commitments and Contingencies Disclosure [Line Items]
Number of lawsuits filed		150
Number of lawsuits served		50
California State
Commitments and Contingencies Disclosure [Line Items]
Number of plaintiffs served in a single complaint		445
Palatine Lllinois
Commitments and Contingencies Disclosure [Line Items]
Leases administrative office space		$ 25
Lease expiring date		March 31, 2017

INVESTMENTS IN MARKETABLE SECURITIES - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2015 USD ($)
Accumulated Other Comprehensive Income (Loss)
Investment In Marketable Securities [Line Items]
Unrealized losses on securities	$ 65