Document And Entity Information - USD ($) $ in Millions	12 Months Ended
Document And Entity Information - USD ($) $ in Millions	Dec. 31, 2016	Mar. 31, 2017	Jun. 30, 2016
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	FY
Entity Registrant Name	ACURA PHARMACEUTICALS, INC
Entity Central Index Key	0000786947
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 13.7
Trading Symbol	ACUR
Entity Common Stock, Shares Outstanding		11,883,339

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 2,681	$ 0
Cash and cash equivalents - restricted (Note 9)	2,500	2,485
Marketable securities (Note 5)	0	10,837
Trade accounts receivable (net of allowances of $7 and $91)	23	42
Collaboration revenue receivable	79	36
Royalty receivable	50	5
Accrued investment income	0	37
Inventories, net (Note 6)	309	276
Prepaid expenses and other current assets	268	417
Total current assets	5,910	14,135
Property, plant and equipment, net (Note 7)	867	1,013
Intangible asset (net of accumulated amortization of $569 and $362) (Note 4)	1,431	1,638
Other assets	0	175
Total assets	8,208	16,961
Current liabilities:
Accounts payable	77	110
Accrued expenses (Note 8)	703	564
Other current liabilities	27	45
Sales returns liability	304	205
Debt - current (Note 9)	2,376	2,320
Total current liabilities	3,487	3,244
Debt - long-term portion (net of debt discount of $98 and $193 and debt issuance costs of $47 and $97 at 2016 and 2015) (Note 9)	2,979	5,430
Accrued interest - non-current portion	559	387
Total liabilities	7,025	9,061
Commitments and contingencies (Note 14)
Stockholders' equity:
Common stock - $.01 par value per share; 100,000 shares authorized, 11,834 and 11,801 shares issued and outstanding at 2016 and 2015, respectively	118	118
Additional paid-in capital	375,763	375,157
Accumulated deficit	(374,698)	(367,310)
Accumulated other comprehensive loss	0	(65)
Total stockholders' equity	1,183	7,900
Total liabilities and stockholders' equity	$ 8,208	$ 16,961

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Accounts receivable, net of allowances	$ 7	$ 91
Finite-lived intangible assets accumulated amortization	569	362
Long-term debt, net of debt discount	98	193
Debt Instrument Issuance Cost	$ 47	$ 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	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Revenues:
License fee revenue	$ 3,500	$ 5,250
Milestone revenue	0	2,500
Collaboration revenue	392	170
Royalty revenue	149	5
Product sales, net	423	662
Total revenues, net	4,464	8,587
Cost and expenses:
Cost of sales (excluding inventory write-down)	451	656
Inventory reserve expense for write-downs (Note 6)	26	330
Research and development	4,028	2,608
Selling, marketing, general and administrative	6,516	8,994
Total costs and expenses	11,021	12,588
Operating loss	(6,557)	(4,001)
Non-Operating income (expense):
Investment income	60	166
Interest expense (Note 9)	(893)	(1,157)
Other income	2	3
Total other expense, net	(831)	(988)
Loss before provision for income taxes	(7,388)	(4,989)
Provision for income taxes	0	0
Net loss	(7,388)	(4,989)
Other comprehensive income (loss):
Unrealized gains (losses) on marketable securities	65	(52)
Comprehensive loss	$ (7,323)	$ (5,041)
Net loss per share:
Basic	$ (0.62)	$ (0.46)
Diluted	$ (0.62)	$ (0.46)
Weighted average shares outstanding:
Basic	11,870	10,796
Diluted	11,870	10,796

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional paid-in capital	Accumulated deficit	Accumulated Other Comprehensive Income (Loss)
Balance at Dec. 31, 2014	$ 5,052	$ 98	$ 367,288	$ (362,321)	$ (13)
Balance (in shares) at Dec. 31, 2014		9,770
Net loss	(4,989)	$ 0	0	(4,989)	0
Other comprehensive loss	(52)	0	0	0	(52)
Share-based compensation	606	0	606	0	0
Net distribution of common stock pursuant to restricted stock unit award plan	0	$ 0	0	0	0
Net distribution of common stock pursuant to restricted stock unit award plan (in shares)		19
Modification to warrants issued with promissory notes	33	$ 0	33	0	0
Issuance of common stock under “at the market” offerings, net of offering costs of $8	217	$ 0	217	0	0
Issuance of common stock under “at the market” offerings, net of offering costs of $8 (in shares)		54
Issuance of common stock under registered direct offering, net of offering costs of $603	7,033	$ 20	7,013	0	0
Issuance of common stock under registered direct offering, net of offering costs of $603 (in shares)		1,958
Balance at Dec. 31, 2015	7,900	$ 118	375,157	(367,310)	(65)
Balance (in shares) at Dec. 31, 2015		11,801
Net loss	(7,388)	$ 0	0	(7,388)	0
Other comprehensive loss	65	0	0	0	65
Share-based compensation	588	0	588	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 Dec. 31, 2016	$ 1,183	$ 118	$ 375,763	$ (374,698)	$ 0
Balance (in shares) at Dec. 31, 2016		11,834

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Cash Flows from Operating Activities:
Net loss	$ (7,388)	$ (4,989)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	138	125
Provision to reduce inventory to net realizable value	26	330
Provision for sales returns	99	267
Provision for fixed asset impairment	82	0
Share-based compensation	588	606
Amortization of debt discount and debt issuance costs	145	186
Amortization of bond premium in marketable securities	31	127
Amortization of intangible asset	207	207
Gain on sales of marketable securities	(2)	(3)
Loss on disposals of property, plant and equipment	1	19
Changes in assets and liabilities:
Accounts receivable, net	19	(28)
Collaboration revenue receivable	(43)	(36)
Royalty receivable	(45)	(5)
Accrued investment income	37	29
Inventories	(59)	(302)
Prepaid expenses and other current assets	149	54
Other current deferred assets	0	218
Other assets	175	(175)
Accounts payable	(33)	(107)
Accrued expenses	139	(4)
Deferred revenue	0	(353)
Accrued interest - current and long term	172	127
Other current liabilities	(1)	19
Net cash used in operating activities	(5,563)	(3,688)
Cash Flows from Investing Activities:
Purchases of marketable securities	0	(3,522)
Proceeds from sales and maturities of marketable securities	10,873	3,830
Additions to property, plant and equipment	(75)	(214)
Proceeds from disposals of property, plant and equipment	0	14
Net cash provided by investing activities	10,798	108
Cash Flows from Financing Activities:
Proceeds from distribution of restricted stock units	1	1
Proceeds from ATM offering	0	225
Proceeds from Registered Direct offering	0	7,636
Transaction costs from ATM offering	0	(603)
Transaction costs from Registered Direct offering	0	(8)
Principal payments on debt	(2,540)	(1,960)
Net cash (used in) provided by financing activities	(2,539)	5,291
Net increase in cash and cash equivalents	2,696	1,711
Cash and cash equivalents at beginning of year	2,485	774
Cash and cash equivalents at end of year	5,181	2,485
Cash paid during the year for:
Interest on term loan with Oxford Finance LLC	576	844
Income taxes, net of refunds	$ 0	$ 0

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2015 USD ($) $ / shares shares
Supplemental Disclosure of Noncash Financing Activities:
Class of Warrant or Right, Exercise Price of Warrants or Rights \| $ / shares	$ 2.52
Fair Value Adjustment of Warrants \| $	$ 33
Class of Warrant or Right, Number of Securities Called by Warrants or Rights \| shares	60

OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2016

Description Of Operation And Summary Of Significant Accounting Policies Disclosure [Abstract]

OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 1 – OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Principal Operations

Acura Pharmaceuticals, Inc., a New York corporation, and its subsidiary (the “Company”, “We”, 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 product tampering associated with opioid abuse 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. See Note 4.

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. On March 16, 2017, we and MainPointe Pharmaceuticals, LLC, or MainPointe, entered into a License, Commercialization and Option Agreement, or the MainPointe Agreement, pursuant to which we granted MainPointe an exclusive license to our Impede technology in the United States and Canada to commercialize our Nexafed products. The MainPointe Agreement also grants MainPointe the option to expand the licensed territory to the European Union, Japan and South Korea and to add additional pseudoephedrine-containing products utilizing our Impede technology. See Note 4.

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. We are also developing an immediate-release hydrocodone bitartrate with acetaminophen product utilizing our Limitx Technology.

Going Concern

The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The going concern basis of presentation assumes that we will continue in operation for the next twelve months and will be able to realize our assets and discharge our liabilities and commitments in the normal course of business and does not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from our inability to continue as a going concern. At December 31, 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 $2.7 million, working capital deficit of $0.7 million and an accumulated deficit of $374.7 million. We had a loss from operations of $6.6 million and a net loss of $7.4 million during the year ended December 31, 2016. We have suffered recurring losses from operations and have not generated positive cash flows from operations. Our current unrestricted cash and cash equivalents will not be sufficient to fund the development of our products utilizing our Limitx and Impede Technologies, and our related operating expenses beyond mid-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, our term loan agreement with Oxford contains customary affirmative 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, or the Unqualified Audit Opinion Covenant. 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. 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. On March 16, 2017, we and Oxford entered into a third amendment to the Loan Agreement, or the Third Amendment. Pursuant to the Third Amendment (i) we granted Oxford a lien on our intellectual property, (ii) Oxford provided a waiver of compliance with the Unqualified Audit Opinion Covenant in connection with our receipt of our auditor’s going concern opinion for our 2016 financial statements and (iii) Oxford consented to the terms of the MainPointe Agreement.

However, these factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. To fund further operations and product development activities beyond mid-2017, we must raise additional financing or enter into license or collaboration agreements with third parties relating to our technologies. The Company intends to explore a variety of capital raising and other transactions to provide additional funding to continue operations. These include a registered public offering of the Company’s common stock, for which the Company filed a registration statement on Form S-1 with the SEC on February 3, 2017, and potential private offerings of common stock to institutional investors. The Company is also actively seeking a licensing partner for its Limitx Technology, with the objective of receiving an upfront license fee, development milestone payments and royalties on the net sales of products utilizing the Limitx Technology, similar to the Egalet and Bayer Agreements. The Company is also exploring licensing or selling select assets and intellectual property in an effort to raise capital and reduce operating expenses. Finally, the Company is evaluating the potential for a strategic transaction which may involve the Company being acquired in a merger or asset purchase transaction. No assurance can be given that we will be successful in completing any one or more of such transactions on acceptable terms, if at all, or if completed, that such transactions will provide payments to the Company sufficient to fund continued operations. In the absence of the Company’s completion of one or more of such transactions, 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.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2016

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The consolidated financial statements include the accounts of our wholly-owned subsidiary, Acura Pharmaceutical Technologies Inc., after elimination of intercompany accounts and transactions.

Amounts presented have been rounded to the nearest thousand, where indicated, except share and per share data. The equity amounts and all share and per share data of the Company have been retroactively adjusted to reflect a one-for-five reverse stock split effected by us on August 28, 2015.

Reclassifications

Certain reclassifications have been made to the prior year’s amounts to conform to the current year’s presentation.

Management Estimates

Management is required to make certain estimates and assumptions in order to prepare consolidated financial statements in conformity with GAAP. Such estimates and assumptions affect the reported amounts of assets, liabilities, revenues and expenses and disclosure of contingent assets and liabilities in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Management periodically evaluates estimates used in the preparation of the consolidated financial statements for continued reasonableness. Appropriate adjustments, if any, to the estimates used are made prospectively based on such periodic evaluations.

Cash and Cash Equivalents

The Company considers cash and cash equivalents to include cash in financial institutions and money market funds, and considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. Our cash and cash equivalents are governed by our investment policy as approved by our Board of Directors. The carrying amount of cash and cash equivalents approximates its fair value due to its short-term nature.

Marketable Securities

The Company did not have marketable securities at December 31, 2016. The Company’s marketable securities at December 31, 2015 primarily consisted of corporate debt securities and exchange-traded funds. Our marketable securities are governed by our investment policy as approved by our Board of Directors. The Company’s marketable securities are classified as available-for-sale and are recorded at fair value, based upon quoted market prices or net asset value. Unrealized temporary adjustments to fair value are included in a separate component of stockholders’ equity as unrealized gains and losses and reported as a component of accumulated other comprehensive income (loss). No gains or losses on marketable securities are realized until shares are sold or a decline in fair value is determined to be other-than-temporary. If a decline in fair value is determined to be other-than-temporary, an impairment charge is recorded and a new cost basis in the investment is established.

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, 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 has not been able to measure the fair value of long-term debt due to a very limited marketplace having little or no market activity for this debt placement but given the change in the Company’s credit risk, the Company believes the fair value of long-term debt is below its carrying value. As discussed above, marketable securities are recorded at fair value.

Concentration of Credit Risk

Credit Risk: Financial instruments that potentially subject the Company to a significant concentration of credit risk consist primarily of cash and cash equivalents, marketable securities and accounts receivable. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. However, management believes the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held. Additionally, the Company’s excess cash is invested in accordance with the investment policy approved by our Board of Directors that seeks a combination of both liquidity and safety of principal using diversification of investments, through investments such as investment grade corporate debt securities with varying maturities. To date, the Company has not experienced any material realized losses on its cash, cash equivalents, and marketable securities.

Customers: We launched our first Impede Technology product, Nexafed®, in the United States in December 2012 and our Nexafed Sinus Pressure + Pain product in the United States in February 2015. Our accounts receivable arise from our sales of our Nexafed product line and represent amounts due from wholesalers in the health care and pharmaceuticals industries and from chain drug stores. The Company has performed a credit evaluation of its customers and may maintain an allowance for potentially uncollectable accounts. We have not experienced any losses on uncollectable accounts in 2016 or 2015.

Sales to certain of our customers during 2016 and 2015 accounting for 10% or more of our annual product sales, whether the product shipment was recognized immediately as a sales or as a deferred sale, is presented below. Sales to customers designated with an ” * ” accounted for less than 10% of our annual product sales.

Customer	2016			2015
Rite Aid Corporation		55	%		54	%
Cardinal Health, Inc.		13	%		14	%
McKesson Corporation		10	%		*

Trade accounts receivable from certain of our customers at December 31, 2016 and 2015 accounting for 10% or more of our gross accounts receivable is presented below. Trade accounts receivable from customers designated with an ” ** ” accounted for less than 10% of our gross trade accounts receivable.

Customer	2016			2015
AmerisourceBergen Corporation		35	%		**
McKesson Corporation		24	%		11	%
Cardinal Health, Inc.		19	%		**
The Kroger Co.		18	%		**
Rite Aid Corporation		**			68	%

Inventories

Inventories at December 31, 2016 consist of raw materials to be used in the manufacture to integrate Impede 2.0 technology into our commercially available Nexafed 30mg tablets, and finished goods held for distribution and sale on our Nexafed® product line. Inventories at December 31, 2015 consisted of finished goods held for distribution and sale on our Nexafed® product line. Inventories are stated at the lower of cost (first-in, first-out method) or market (net realizable value). The Company writes down inventories to net realizable value based on forecasted demand and market conditions, which may differ from actual results.

Our purchases of active pharmaceutical ingredients and raw materials required for our development and clinical trial manufacture of product candidates utilizing our Aversion®, Impede® or Limitx Technologies are expensed as incurred.

Property, Plant and Equipment

Property, plant and equipment are stated at cost, less accumulated depreciation. 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 is removed from the respective accounts.

Depreciation expense is recorded on a straight-line basis over the estimated useful lives of the related assets. 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

Deferred Debt Issuance Costs and Debt Discount

Deferred debt issuance costs include costs of debt financing undertaken by the Company, including legal fees, placement fees and other direct costs of the financing. Debt discount is the value attributable to warrants issued in conjunction with the financing. Debt issuance costs and debt discount are amortized into interest expense over the term of the related debt using the effective interest method. See Recent Accounting Pronouncements for discussion on the presentation of deferred debt issuance costs as a direct reduction against long-term debt.

License Fee Revenue

In December 2014, the Company entered into an agreement with Purdue Pharma to settle a patent interference action regarding certain intellectual property held by Acura (U.S. Patent No. 8,101,630). The dispute centered on 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 into an agreement whereby Acura conceded Purdue’s claim of priority in exchange for certain financial consideration to Acura including an immediate non-refundable payment of $500 thousand. In June 2015, the Company received an additional $250 thousand payment from Purdue relating to the December 2014 agreement. These amounts were recognized as revenue when received.

In January 2015, the Company entered into a Collaboration and License Agreement to commercialize Oxaydo tablets (formerly known as Oxecta) utilizing our Aversion® Technology with Egalet US, Inc. and Egalet Ltd., each a subsidiary of Egalet Corporation (collectively, “Egalet”). 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).

In October 2016, the Company 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 two of KemPharm’s prodrug candidates. KemPharm has also been granted an option to extend the KemPharm Agreement to cover two additional prodrug candidates. KemPharm paid us $3.5 million upon signing the KemPharm 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).

Milestone Revenue

Milestone revenue is contingent upon the achievement of certain pre-defined events in the development agreements. Milestone payments are recognized as revenue upon achievement of the “at risk” milestone events, which represent the culmination of the earnings process related to that milestone. Milestone payments are triggered either by the results of our research and development efforts or by events external to us, such as regulatory approval to market a product. As such, the milestones are substantially at risk at the inception of an agreement, and the amounts of the payments assigned thereto are commensurate with the milestone achieved. In addition, upon the achievement of a milestone event, we have no future performance obligations related to that milestone payment. Each milestone payment is non-refundable and non-creditable when made and is recognized as revenue when received. In October 2015, Egalet paid us a $2.5 million milestone payment in connection with the event of the first commercial sale of Oxaydo.

Collaboration Revenue

Collaboration revenue is derived from reimbursement of development expenses, such as under our agreement with Bayer, and are recognized when costs are incurred pursuant to the agreements. The ongoing research and development services being provided under the collaboration are priced at fair value based upon the reimbursement of expenses incurred pursuant to the collaboration agreements. We recognized $392 thousand and $170 thousand of collaboration revenue during the years 2016 and 2015, respectively.

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 and we have recorded royalties of $149 thousand and $5 thousand on net sales for the years 2016 and 2015, respectively. (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. Both products had an initial shelf life of twenty-four months from the date of manufacture, which shelf life has been extended to thirty-six months for Nexafed product supplied to us during 2016 from one of the Company’s contract manufacturers. 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 2014, we continued deferring the recognition of revenue. 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 recorded 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, and returns can be reasonably estimated, which generally occurs at the time of product shipment. At December 31, 2016 and 2015, we have a $304 thousand and $205 thousand sales returns liability, respectively. We review our sales return liability against sales returns activity each calendar quarter.

Advertising Costs

The Company records the cost of its advertising efforts when services are performed or goods are delivered.

Shipping and Handling Costs

The Company records shipping and handling costs in selling expenses. The amounts recorded from the sales of Nexafed® were not material.

Impairment of Long-Lived Assets

Long-lived assets such as the intangible asset and property, plant and equipment are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. Recoverability of the assets to be held and used is measured by a comparison of the carrying amount of the asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying value of an asset exceeds its estimated future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset. We recorded an impairment charge of $82 in fourth quarter 2016 on equipment having a net book value of a like amount. We had no impairment charges for the year ended 2015.

Research and Development Activities

Research and Development (“R&D”) expenses include internal R&D activities, external Contract Research Organization (“CRO”) services and their clinical research sites, and other activities. Internal R&D activity expenses 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 include preclinical laboratory experiments and clinical trial studies. Other activity expenses include regulatory consulting, 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 2015, we entered into a 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 $50 thousand was remaining under this agreement at December 31, 2016. At December 31, 2016 our remaining obligations under cancelable CRO arrangements were approximately $0.2 million, for services to be incurred as subjects are enrolled and progress through the studies. We did not have prepaid CRO costs and clinical trial study expenses at either December 31, 2016 or 2015.

Share-based Compensation

We have several share-based compensation plans covering stock options and RSUs for our employees and directors, which are described more fully in Note 12.

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 instruments issued comprised the following (in thousands):

	Year ended
	December 31,
	2016		2015
Research and development:
Stock option awards	$	167	$	158
RSU awards		-		-
	$	167	$	158

Selling, general and administrative:
Stock option awards		301		384
RSU awards		143		95
	$	444	$	479

Total share-based compensation expense	$	611	$	637

Comprehensive Income (Loss)

Comprehensive income (loss) includes all changes in equity during a period except those that resulted from investments by or distributions to the Company’s stockholders. Other comprehensive income (loss) refers to revenues, expenses, gains and losses that, under GAAP, are included in comprehensive income (loss), but excluded from net income (loss) as these amounts are recorded directly as an adjustment to stockholders’ equity. The Company’s other comprehensive income (loss) is composed of unrealized gains (losses) on certain holdings of marketable securities, net of any realized gains (losses) included in net income (loss).

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 the financial reporting and the income tax basis of assets and liabilities and are measured 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 December 31, 2016 and 2015, 100% of all remaining net deferred income tax assets were offset by a valuation allowance due to uncertainties with respect to future utilization of net operating loss 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.

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 12). 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 or 2015 as the Company reported a net loss for the years and including the effects of common stock equivalents in the diluted EPS calculation would have been antidilutive.

A reconciliation of the numerators and denominators of basic and diluted EPS consisted of the following (in thousands, except per share data):

	Years ended December 31,
	2016		2015
EPS – basic
Numerator: net loss	$	(7,388)	$	(4,989)
Denominator (weighted):
Common shares		11,834		10,777
Vested RSUs		36		19
Basic weighted average shares outstanding		11,870		10,796
EPS - basic	$	(0.62)	$	(0.46)

EPS – assuming dilution
Numerator: net loss	$	(7,388)	$	(4,989)
Denominator (weighted):
Common shares		11,834		10,777
Vested RSUs		36		19
Stock options		-		-
Common stock warrants		-		-
Diluted weighted average shares outstanding		11,870		10,796
EPS - diluted	$	(0.62)	$	(0.46)

Excluded dilutive securities:
Common stock issuable (non weighted):
Stock options		1,397		1,198
Common stock warrants		60		60
Total excluded potentially dilutive shares		1,457		1,258

RECENT ACCOUNTING PRONOUNCEMENTS

12 Months Ended

Dec. 31, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

RECENT ACCOUNTING PRONOUNCEMENTS

NOTE 3 – RECENT 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”. ASU 2014-15 explicitly requires management to evaluate, at each annual or interim reporting period, whether there are conditions or events that exist which raise substantial doubt about an entity’s ability to continue as a going concern and to provide related disclosures. 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 adoption of this standard did not have a material impact on the Company’s financial statement disclosures.

Revenue from Contracts with Customers

In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers (ASU 2014-09), which supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU 2014-09 defines a five step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing U.S. GAAP.

The standard is effective for annual periods beginning after December 15, 2017, and interim periods therein, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures). We are currently evaluating the impact of our pending adoption of ASU 2014-09 on our consolidated financial statements and have not yet determined the transition method we will utilize to adopt the standard for use in 2018.

Presentation of Debt Issuance Costs

In April 2015, the FASB issued ASU No. 2015-03, “Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs.” The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU. The amendments are effective for financial statements issued for fiscal years beginning after December 15, 2015. Early adoption of the amendments is permitted and the Company elected to adopt this guidance effective April 1, 2015. The Company adopted the guidance to implement the simplified presentation prescribed as the purpose of the amendment.

Leases

In February 2016, the FASB issued ASU 2016-02, Leases, which will require most leases (with the exception of leases with terms of less than one year) to be recognized on the balance sheet as an asset and a lease liability. Leases will be classified as an operating lease or a financing lease. Operating leases are expensed using the straight-line method whereas financing leases will be treated similarly to a capital lease under the current standard. The new standard will be effective for annual and interim periods, within those fiscal years, beginning after December 15, 2018 but early adoption is permitted. The new standard must be presented using the modified retrospective method beginning with the earliest comparative period presented. The Company is currently evaluating the effect of the new standard on its consolidated financial statements and related disclosures.

LICENSE, DEVELOPMENT, AND COMMERCIALIZATION AGREEMENTS

12 Months Ended

Dec. 31, 2016

Research and Development Disclosure [Abstract]

LICENSE, DEVELOPMENT, AND COMMERCIALIZATION AGREEMENT

NOTE 4 – LICENSE, DEVELOPMENT, AND COMMERCIALIZATION AGREEMENTS

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.

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 two 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 are 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.

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.

MainPointe Agreement

On March 16, 2017, we and MainPointe Pharmaceuticals, LLC, or MainPointe, entered into a License, Commercialization and Option Agreement, or the MainPointe Agreement, pursuant to which we granted MainPointe an exclusive license to our Impede technology to commercialize our Nexafed products in the U.S. and Canada. We also conveyed to MainPointe our existing inventory and equipment relating to our Nexafed products. MainPointe is responsible for all development, manufacturing and commercialization activities with respect to products covered by the Agreement.

On signing the MainPointe Agreement, MainPointe paid us an upfront licensing fee of $2.5 million plus approximately $425,000 for inventory and equipment being transferred. The MainPointe Agreement also provides for our receipt of a 7.5% royalty on net sales of licensed products. The royalty payment for each product will expire on a country-by-country basis when the Impede® patent rights for such country have expired or are no longer valid; provided that if no Impede patent right exists in a country, then the royalty term for that country will be the same as the royalty term for the United States. After the expiration of a royalty term for a country, MainPointe retains a royalty free license to our Impede® technology for products covered by the Agreement in such country.

MainPointe has the option to expand the licensed territory beyond the United States and Canada to the European Union (and the United Kingdom), Japan and South Korea for payments of $1 million, $500,000 and $250,000, respectively. In addition, MainPointe has the option to add to the MainPointe Agreement certain additional products, or Option Products, containing PSE and utilizing the Impede technology for a fee of $500,000 per product (for all product strengths). If the territory has been expanded prior to the exercise of a product option, the option fee will be increased to $750,000 per product. If the territory is expanded after the payment of the $500,000 product option fee, a one-time $250,000 fee will be due for each product. If a third party is interested in developing or licensing rights to an Option Product, MainPointe must exercise its option for that product or its option rights for such product will terminate.

The MainPointe Agreement may be terminated by either party for a material breach of the other party, or by Acura if MainPointe challenges certain of its patents. Upon early termination of the MainPointe Agreement, MainPointe’s licenses to the Impede technology and all products will terminate. Upon termination, at Acura’s request the parties will use commercially reasonable efforts to transition the Nexafed® and Nexafed® Sinus Pressure + Pain products back 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 two letter agreements 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, which is 9.7 years. During each of the years ended December 31, 2016 and 2015, we recorded amortization expense of $207 thousand. Annual amortization of the patent for years 2017 thru 2021 is expected to approximate $207 thousand. We also purchased from Pfizer selected raw and packaging material inventories for $260 thousand relating to Oxaydo. In 2015, we wrote off and disposed of these inventories in the same amounts as the purchase costs.

INVESTMENTS IN MARKETABLE SECURITIES

12 Months Ended

Dec. 31, 2016

Investments, Debt and Equity Securities [Abstract]

INVESTMENTS IN MARKETABLE SECURITIES

NOTE 5 – INVESTMENTS IN MARKETABLE SECURITIES

The Company did not have investments in marketable securities at December 31, 2016. Investments in marketable securities at December 31, 2015 consisted of the following (in millions):

	December 31, 2015
Marketable securities:
Corporate bonds — maturing within 1 year	$	3.1
Corporate bonds — maturing after 1 year and through March 2017		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 marketable securities 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 (in millions):

	December 31, 2015
			Gross		Gross
			Unrealized		Unrealized		Fair
	Cost		Gains		Losses		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 market prices in active markets for identical assets or liabilities. Fair values determined based on Level 2 inputs utilize observable market-based inputs or unobservable inputs that are corroborated by market data. Fair values determined based on Level 3 inputs utilize unobservable inputs reflecting the reporting entity’s own assumptions. 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 as at December 31, 2015 consisted of the following (in millions):

	December 31, 2015
	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). The Company did not have investments in marketable securities at December 31, 2016. Accumulated other comprehensive income (loss) at December 31, 2015 consisted of unrealized losses on securities of $65 thousand.

- Definition

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

+ References + Details

INVENTORIES

12 Months Ended

Dec. 31, 2016

Inventory Disclosure [Abstract]

INVENTORIES

NOTE 6 – INVENTORIES

Inventories at December 31, 2016 consist of raw materials to be used in the manufacture to integrate Impede 2.0 technology into our commercially available Nexafed 30mg tablets, and finished goods held for distribution and sale on our Nexafed product line. Inventories at December 31, 2015 consist of finished goods held for distribution and sale on our Nexafed product line. During 2014, we purchased selected raw and packaging material inventories for $260 thousand from Pfizer related to the Oxaydo product we reacquired from them (see Note 4). During 2015, we entirely wrote off and disposed of these inventories. 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 (in thousands):

	December 31,
	2016		2015
Raw materials	$	98	$	-
Finished goods		243		346
Total inventory		341		346
Less: inventory reserve - finished goods		(32)		(70)
Net inventory	$	309	$	276

Inventory reserve activity during the years ended December 31, 2016 and 2015 was as follows (in thousands):

	2016		2015
Beginning of year	$	70	$	-
Reserve expense - raw and packaging		-		260
Reserve expense - finished goods		26		70
		96		330
Inventory write-offs - raw and packaging		-		(260)
Inventory write-offs - finished goods		(64)		-
End of year	$	32	$	70

PROPERTY, PLANT AND EQUIPMENT

12 Months Ended

Dec. 31, 2016

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

NOTE 7 – PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment are summarized as follows (in thousands):

	December 31,
	2016		2015
Building and improvements	$	1,273	$	1,265
Scientific equipment		598		598
Computer hardware and software		109		124
Machinery and equipment		568		508
Land and improvements		162		162
Other personal property		70		70
Office equipment		27		27
		2,807		2,754
Less: impairment reserve		(82)		(-)
Less: accumulated depreciation		(1,858)		(1,741)
Total property, plant and equipment, net	$	867	$	1,013

Depreciation expense was approximately $0.1 million for each of the years ended December 31, 2016 and 2015.

DEBT

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

DEBT

NOTE 9 – 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 December 31, 2016, we have made $4.5 million in aggregate principal payments. 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 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 $5.0 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.

On March 16, 2017, we and Oxford entered into a third amendment to the Loan Agreement, or the Third Amendment. Pursuant to the Third Amendment (i) we granted Oxford a lien on our intellectual property, (ii) Oxford provided a waiver of compliance with the Unqualified Audit Opinion Covenant in connection with our receipt of our auditor’s going concern opinion for our 2016 financial statements and (iii) Oxford consented to the terms of the MainPointe Agreement. Per the term loan agreement, an audit opinion with an explanatory paragraph noting substantial doubt about the Company’s ability to continue in business is deemed to violate the Unqualified Audit Opinion Covenant.

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 December 31, 2016 and 2015, we have accumulated and accrued $559 thousand and $387 thousand, respectively, 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 and warranties and customary 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.

Our debt at December 31, 2016 is summarized below (in thousands):

Current Debt	Current		Long-term		Total
Balance at Dec 31, 2015	$	2,320	$	5,720	$	8,040
Principal payments		(2,540)		-		(2,540)
Classification		2,741		(2,741)		-
Balance at Dec 31, 2016	$	2,521	$	2,979	$	5,500

Debt Discount	Current		Long-term		Total
Balance at Dec 31, 2015	$	-	$	(193)	$	(193)
Amortization expense		-		95		95
Classification		(98)		98		-
Balance at Dec 31, 2016	$	(98)	$	-	$	(98)

Deferred Debt Issuance Costs	Current		Long-term		Total
Balance at Dec 31, 2015	$	-	$	(97)	$	(97)
Amortization expense		-		50		50
Classification		(47)		47		-
Balance at Dec 31, 2016	$	(47)	$	-	$	(47)

Current Debt, net at Dec 31, 2016	$	2,376	$	2,979	$	5,355

Our interest expense consisted of the following (in thousands):

	2016		2015
Interest expense:
Term Loan	$	748	$	971
Debt discount		95		121
Debt issue costs		50		65
Total interest expense	$	893	$	1,157

The annual principal payments of the debt at December 31, 2016 are as follows:

	Annual
	Principal Payments
Year	(in thousands)
2017	$	2,521
2018		2,979
Total	$	5,500

EQUITY FINANCINGS

12 Months Ended

Dec. 31, 2016

Equity [Abstract]

EQUITY FINANCING

NOTE 10 – EQUITY FINANCINGS

Our universal shelf registration statement on Form S-3 was declared effective by the Securities and Exchange Commission (“SEC”) on March 15, 2013. On April 18, 2013, we filed a prospectus supplement with the SEC pursuant to which we could sell shares of our common stock from time to time in “at the market” offerings and certain other transactions, having sales proceeds of up to $13 million. We did not sell any shares of our common stock pursuant to our prospectus supplement during the year ended December 31, 2014. During the year ended December 31, 2015, we sold approximately 54 thousand shares of our common stock (after giving effect to our one-for-five reverse stock split) for gross proceeds of $225 thousand. Transaction costs were approximately $8 thousand. The net proceeds of $217 thousand were used for general corporate purposes. In order to allow for the sale of our shares of common stock under our shelf registration statement pursuant to the Placement Agency Agreement and Securities Purchase Agreement described below, on June 30, 2015, we and MLV & Co., LLC, as sales agent, terminated the at-market issuance sales agreement dated April 18, 2013, thereby terminating any further “at the market offerings” under our prospectus supplement filed with the SEC on April 18, 2013.

On June 30, 2015, we entered into a Placement Agency Agreement (the “Placement Agency Agreement”) with Roth Capital Partners, LLC (“Roth”), pursuant to which we engaged Roth to act as sole placement agent in a registered direct offering (the “Offering”) of 1.958 million shares of our common stock, par value $.01 (after giving effect to our one-for-five reverse stock split). On June 30, 2015, we entered into a Securities Purchase Agreement (the “Purchase Agreement”) with certain institutional investors (the “Purchasers”), pursuant to which we agreed to sell 1.958 million shares of our common stock at a price of $3.90 per share (after giving effect to our one-for-five reverse stock split) to the Purchasers in the Offering, for gross proceeds to the Company of $7.64 million, before expenses. The Offering was made pursuant to a prospectus supplement dated June 30, 2015 filed with the Securities and Exchange Commission in connection with a takedown from the Company’s shelf registration statement on Form S-3 (File No. 333-187075), which became effective on March 15, 2013, and the related base prospectus included in the Registration Statement, as supplemented by the prospectus supplement. The transactions contemplated by the Placement Agency Agreement and the Purchase Agreement closed on July 7, 2015.

Pursuant to the terms of the Placement Agency Agreement, we paid Roth a cash placement fee equal to 6.5% of the gross proceeds in the Offering or $496 thousand, and reimbursed Roth $35 thousand for its expenses. The net proceeds from the Offering, after these and other legal expenses, was $7.0 million.

COMMON STOCK WARRANTS

12 Months Ended

Dec. 31, 2016

Stockholders Equity Note [Abstract]

COMMON STOCK WARRANTS

NOTE 11 – 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 9 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 years ended December 31, 2016 and 2015 is shown below (in thousands except price data):

	December 31,
	2016				2015
			WAvg				WAvg
			Exercise				Exercise
	Number		Price		Number		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

EMPLOYEE BENEFIT PLANS

12 Months Ended

Dec. 31, 2016

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

EMPLOYEE BENEFIT PLANS

NOTE 12 – EMPLOYEE BENEFIT PLANS

401(k) and Profit-Sharing Plan

We have a 401(k) and Profit-Sharing Plan (the “Plan”) for our employees. Employees may elect to make a basic contribution of up to 80% of their annual earnings subject to certain regulatory restrictions on their total contribution. The Plan provides that the Company can make discretionary matching contributions along with a discretionary profit-sharing contribution. We did not contribute a matching contribution or a profit sharing contribution to the Plan in years 2016 or 2015.

Stock Option Plans

We maintain various stock option plans. A summary of our stock option plans as of December 31, 2016 and 2015 and for the years then ended consisted of the following (in thousands except exercise price):

	Years Ended December 31,
	2016				2015
			Weighted				Weighted
	Number		Average				Average
	of		Exercise		Number of		Exercise
	Options		Price		Options		Price
Outstanding, beginning		1,198	$	15.67		911	$	20.70
Granted		199		0.92		315		2.01
Exercised		-		-		-		-
Forfeited or expired		-		-		(28)		26.75
Outstanding, ending		1,397	$	15.67		1,198	$	15.67
Exercisable, ending		1,062	$	17.41		814	$	22.04

The following table summarizes information about nonvested stock options outstanding at December 31, 2016 (in thousands except price data):

	Number of		Weighted
	Options Not		Average Fair
	Exercisable		Value
Outstanding at December 31, 2015		384	$	1.85
Granted		199		0.92
Vested		(248)		1.89
Forfeited		-		-
Outstanding at December 31, 2016		335	$	1.18

We estimate the option’s fair value on the date of grant using the Black-Scholes option-pricing model. Black-Scholes utilizes assumptions related to expected term, forfeitures, volatility, the risk-free interest rate, the dividend yield (which is assumed to be zero, as we have not paid any cash dividends) and employee exercise behavior. Expected volatilities utilized in the Black-Scholes model are based on the historical volatility of our common stock price. The risk-free interest rate is derived from the U.S. Treasury yield curve in effect at the time of grant. The expected life of the grants is derived from historical exercise activity. Historically, the majority of our stock options have been held until their expiration date.

The assumptions used in the Black-Scholes model to determine fair value for the 2016 and 2015 stock option grants were:

	2016			2015
Expected dividend yield		0.0	%		0.0	%
Risk-free interest rates		2.3	%		2.2	%
Average expected volatility		85	%		89	%
Expected term (years)		10			10
Weighted average grant date fair value	$	0.77		$	1.72

The intrinsic value of the option awards which were vested and outstanding at December 31, 2015 was $6 thousand. The option awards vested and outstanding at December 31, 2016 did not have intrinsic value. The total remaining unrecognized compensation cost on unvested option awards outstanding at December 31, 2016 was approximately $400 thousand, and is expected to be recognized in operating expense in varying amounts over the 23 months remaining in the requisite service period. There were no option award exercise activity during 2016 or 2015.

Restricted Stock Unit Award Plan

We have two Restricted Stock Unit Award Plans for our employees and non-employee directors, a 2014 Restricted Stock Unit Award Plan (the “2014 RSU Plan”) and a 2005 Restricted Stock Unit Award Plan (the “2005 RSU Plan”). 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 as of December 31, 2016 and 2015, and for the years then ended consisted of the following (in thousands):

	Years Ended December 31,
	2016				2015
			Number of				Number of
	Number of		Vested		Number of		Vested
	RSUs		RSUs		RSUs		RSUs
Outstanding, beginning		45		45		29		29
Granted		88		-		42		-
Distributed		(42)		(42)		(26)		(26)
Vested		-		88		-		42
Forfeited or expired		-		-		-		-
Outstanding, ending		91		91		45		45

2014 Restricted Stock Unit Award Plan

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 December 31, 2016, approximately 241 thousand shares are available for award under the 2014 RSU Plan.

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

On May 1, 2014, we awarded approximately 7 thousand RSUs to each of our 4 non-employee directors. Such RSU awards vested 50% on June 30, 2014 and 25% on each of September 30 and December 31, 2014. Such non-employee director awards allow for non-employee directors to receive payment in cash, instead of stock, for up to 40% of each RSU award. The RSU awards subject to cash settlement were recorded as a liability in the Company’s balance sheet. The liability was $26 thousand at December 31, 2014. Accordingly the vested portion of the awards containing the cash settlement feature are being marked-to-market each reporting period until they are distributed. Marked-to-market accounting can create fluctuations in our compensation expense including the need to record additional expense. RSU awards 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.

On January 2, 2015, we awarded approximately 10 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 RSU awards subject to cash settlement are subject to marked-to market accounting and the liability recorded in the Company’s balance sheet was $45 thousand at December 31, 2015. Distributions of stock under the January 2, 2015 award cannot be deferred until a later date and the stock under such awards were distributed on January 4, 2016.

On January 4, 2016, we awarded approximately 22 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 $27 thousand at December 31, 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. On January 3, 2017, approximately 66 thousand RSUs under such awards were distributed.

On January 3, 2017, we awarded approximately 60 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 2017. The portion of the RSU awards which are subject to cash settlement are also subject to marked-to market accounting. Distributions of stock under the January 3, 2017 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, 26 thousand RSUs from the May 1, 2014 award were distributed and 4 thousand RSUs were deferred until a future distribution date. Of the 26 thousand RSUs distributed, 19 thousand RSUs were distributed in common stock and 7 thousand RSUs were settled in cash.

On January 4, 2016, 1 thousand RSUs from the May 1, 2014 award and 42 thousand RSUs from the January 2, 2015 award were distributed. There are 2 thousand RSUs from the May 1, 2014 award which remain deferred until a future distribution date. Of the 42 thousand RSUs distributed, 33 thousand RSUs were distributed in common stock and 9 thousand RSUs were settled in cash.

On January 3, 2017, 1 thousand RSUs from the May 1, 2014 award and 66 thousand RSUs from the January 4, 2016 award were distributed. There are 1 thousand RSUs from the May 1, 2014 award and 22 thousand RSUs from the January 4, 2016 award which remain deferred until a future distribution date. Of the 67 thousand RSUs distributed, 49 thousand RSUs were distributed in common stock and 18 thousand RSUs were settled in cash.

- 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

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

INCOME TAXES

NOTE 13 – INCOME TAXES

Provision for Income Taxes

The reconciliation between our provision for income taxes and the amounts computed by multiplying our loss before taxes by the U.S. statutory tax rate is as follows (in thousands):

	December 31,
	2016		2015
Benefit at U.S. statutory 34% tax rate	$	(2,512)	$	(1,696)
State taxes (benefit), net of federal effect		49		41
Research and development tax credits		-		-
Share-based compensation		159		184
Other		2		11
Change in valuation allowance		2,302		1,460
Provision for income taxes	$	-	$	-

Deferred Tax Assets and Valuation Allowance

Deferred tax assets reflect the tax effects of net operating losses (“NOLs”), tax credit carryovers, and temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The most significant item of our deferred tax assets is derived from our Federal NOLs. We have approximately $47.2 million Federal income tax benefits at December 31, 2016 derived from $138.8 million Federal NOLs at the U.S. statutory tax rate of 34% and $2.1 million State NOLs. These NOLs are available to offset future taxable income, some of which already have limitations for future use as prescribed under IRC Section 382. We have updated our previously conducted Section 382 study through December 31, 2016 which provides no further limitations for future use of the NOLs. Our Federal and State NOLs will expire in varying amounts between 2017 and 2036 if not used, and those expirations will cause fluctuations in our valuation allowances. The net change in the valuation allowance in 2016 and 2015 was approximately $5.6 million and $0.6 million, respectively.

As of December 31, 2016 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 will expire in 2017.

The components of our deferred tax assets are as follows:

	December 31,
	2016		2015
	(in thousands)
Deferred tax assets:
Estimated future value of NOLs
- Federal	$	47,192	$	52,772
- State		2,135		2,050
Research and development tax credits		1,320		1,394
Share-based compensation		57		38
Other, net		332		368
Total deferred taxes		51,036		56,622
Valuation allowance		(51,036)		(56,622)
Net deferred tax assets	$	-	$	-

Realization of deferred tax assets is dependent upon future earnings, if any, and the timing and amount of which may be uncertain. Valuation allowances are placed on deferred tax assets when uncertainty exists on their near term utilization. We make periodic reviews of our valuation allowances and fluctuations can occur. Those fluctuations may be reflected as income tax expenses or benefits in the period they occur. We continue to maintain full valuation allowance against all of our deferred tax assets at December 31, 2016 due to uncertainties with respect to future utilization of net operating loss carryforwards. If in the future it is determined that amounts of our deferred tax assets would likely be realized, the valuation allowance would be reduced in the period in which such determination is made and a benefit from income taxes in such period would be recognized.

Uncertainty in Income Taxes

We adopted FASB’s statement regarding accounting for uncertainty in income taxes which defined the threshold for recognizing the benefits of tax-return positions in the consolidated financial statements as “more-likely-than-not” to be sustained by the taxing authorities. Our adoption of the standard did not result in establishing a contingent tax liability reserve or a corresponding charge to retained earnings. At each of December 31, 2016 and 2015, we had no liability for income tax associated with uncertain tax positions. If in the future we establish a contingent tax liability reserve related to uncertain tax positions, our practice will be to recognize the interest in interest expense and the penalties in other non-operating expense.

The Company files federal and state income tax returns and in the normal course of business the Company is subject to examination by these taxing authorities. As of December 31, 2016, the Company’s tax years 2013, 2014 and 2015 are subject to examination by the taxing authorities. With few exceptions, we believe the Company is no longer subject to U.S. Federal, State and local examinations by taxing authorities for years before 2013.

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2016

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 14 – 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, we were 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 were 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 us. 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 us with prejudice.

In Pennsylvania, and California, Generic Defendants, including us, 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 taken procedural steps to narrow this litigation, including requests for plaintiffs to voluntarily discontinue cases, such as those filed against us, where there is no case-specific product identification. The trial court proceedings were stayed on January 12, 2017. We are in the process of obtaining voluntary dismissal without prejudice of all of the Pennsylvania cases pending against us. We expect that the Court will approve these dismissals during the second quarter of 2017 and should finally dismiss the Pennsylvania-based litigation against us with prejudice later this year. Legal fees related to this matter are currently covered by our 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, we 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 us and provides for an agreed upon dismissal protocol for all cases where is a lack of product identification. On January 13, 2017, the Court also entered a general stay of this entire litigation. To date, none of these plaintiffs have confirmed they ingested any of the generic metoclopramide manufactured by us. Therefore, we expect that the lawsuits filed against us will be dismissed voluntarily within the next three to six months. 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 December 31, 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 December 31, 2016, we have accrued approximately $95 thousand of cost sharing expenses of certain clinical studies for product line extensions (additional strengths) of Oxaydo for the United States under the Egalet.

Facility Lease

The Company leases administrative office space in Palatine, Illinois under a lease for $25 thousand annually expiring March 31, 2017. Effective April 1, 2017, the office space is leased on a month to month basis.

SUBSEQUENT EVENT

12 Months Ended

Dec. 31, 2016

Subsequent Events [Abstract]

SUBSEQUENT EVENT

NOTE 15 – SUBSEQUENT EVENT

On March 16, 2017, we and MainPointe Pharmaceuticals, LLC or MainPointe, entered into a License, Commercialization and Option Agreement, or the MainPointe Agreement, pursuant to which we granted MainPointe an exclusive license to our Impede technology to commercialize our Nexafed products in the U.S. and Canada. We also conveyed to MainPointe our existing inventory and equipment relating to our Nexafed products. MainPointe is responsible for all development, manufacturing and commercialization activities with respect to products covered by the Agreement.

On signing the MainPointe Agreement, MainPointe paid us an upfront licensing fee of $2.5 million plus approximately $425,000 for the net book value of inventory and equipment being transferred. The MainPointe Agreement also provides for our receipt of a 7.5% royalty on net sales of licensed products. The royalty payment for each product will expire on a country-by-country basis when the Impede® patent rights for such country have expired or are no longer valid; provided that if no Impede patent right exists in a country, then the royalty term for that country will be the same as the royalty term for the United States. After the expiration of a royalty term for a country, MainPointe retains a royalty free license to our Impede® technology for products covered by the Agreement in such country.

SUPPLEMENTARY DATA - QUARTERLY FINANCIAL DATA (Unaudited)

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

SUPPLEMENTARY DATA - QUARTERLY FINANCIAL DATA

SUPPLEMENTARY DATA - QUARTERLY FINANCIAL DATA (Unaudited)

Selected unaudited quarterly consolidated financial data is shown below (in thousands except per share amounts):

	For Three Month Periods Ended
	Mar. 31,		June 30,		Sept. 30,		Dec. 31,
	2016		2016		2016		2016
Net revenues	$	224	$	257	$	218	$	3,765
Operating expenses		3,362		3,336		2,287		2,036

Operating (loss) income		(3,138)		(3,079)		(2,069)		1,729
Net (loss) income	$	(3,384)	$	(3,288)	$	(2,250)	$	1,534

Basic (loss) income per share	$	(0.28)	$	(0.28)	$	(0.19)	$	0.13
Diluted (loss) income per share	$	(0.28)	$	(0.28)	$	(0.19)	$	0.13

	For Three Month Periods Ended
	Mar. 31,		June 30,		Sept. 30,		Dec. 31,
	2015		2015		2015		2015
Net revenues	$	5,357	$	341	$	210	$	2,679
Operating expenses		3,845		2,739		2,615		3,389

Operating income (loss)		1,512		(2,398)		(2,405)		(710)
Net loss	$	1,239	$	(2,663)	$	(2,649)	$	(916)

Basic income (loss) per share	$	0.13	$	(0.28)	$	(0.23)	$	(0.08)
Diluted income (loss) per share	$	0.13	$	(0.28)	$	(0.23)	$	(0.08)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2016

Accounting Policies [Abstract]

Basis of Presentation

Basis of Presentation

The consolidated financial statements include the accounts of our wholly-owned subsidiary, Acura Pharmaceutical Technologies Inc., after elimination of intercompany accounts and transactions.

Reclassifications

Reclassifications

Certain reclassifications have been made to the prior year’s amounts to conform to the current year’s presentation.

Management Estimates

Management Estimates

Cash and Cash Equivalents

Cash and Cash Equivalents

Marketable Securities

Marketable Securities

Fair Value of Other Financial Instruments

Fair Value of Other Financial Instruments

Concentration of Credit Risk

Concentration of Credit Risk

Customer	2016			2015
Rite Aid Corporation		55	%		54	%
Cardinal Health, Inc.		13	%		14	%
McKesson Corporation		10	%		*

Customer	2016			2015
AmerisourceBergen Corporation		35	%		**
McKesson Corporation		24	%		11	%
Cardinal Health, Inc.		19	%		**
The Kroger Co.		18	%		**
Rite Aid Corporation		**			68	%

Inventories

Inventories

Property, Plant and Equipment

Property, Plant and Equipment

Depreciation expense is recorded on a straight-line basis over the estimated useful lives of the related assets. 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 Issuance Costs and Debt Discount

Deferred Debt Issuance Costs and Debt Discount

License Fees

License Fee Revenue

Milestone Revenue

Milestone Revenue

Collaboration Revenue

Collaboration Revenue

Royalty Revenue

Royalty Revenue

Product Sales

Product Sales

Advertising Costs

Advertising Costs

The Company records the cost of its advertising efforts when services are performed or goods are delivered.

Shipping and Handling Costs

Shipping and Handling Costs

The Company records shipping and handling costs in selling expenses. The amounts recorded from the sales of Nexafed® were not material.

Impairment of Long-Lived Assets

Impairment of Long-Lived Assets

Research and Development Activities

Research and Development Activities

Share-based Compensation

Share-based Compensation

We have several share-based compensation plans covering stock options and RSUs for our employees and directors, which are described more fully in Note 12.

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

	Year ended
	December 31,
	2016		2015
Research and development:
Stock option awards	$	167	$	158
RSU awards		-		-
	$	167	$	158

Selling, general and administrative:
Stock option awards		301		384
RSU awards		143		95
	$	444	$	479

Total share-based compensation expense	$	611	$	637

Comprehensive Income (Loss)

Comprehensive Income (Loss)

Income Taxes

Income Taxes

Earnings Per Share (“EPS”)

Earnings Per Share (“EPS”)

A reconciliation of the numerators and denominators of basic and diluted EPS consisted of the following (in thousands, except per share data):

	Years ended December 31,
	2016		2015
EPS – basic
Numerator: net loss	$	(7,388)	$	(4,989)
Denominator (weighted):
Common shares		11,834		10,777
Vested RSUs		36		19
Basic weighted average shares outstanding		11,870		10,796
EPS - basic	$	(0.62)	$	(0.46)

EPS – assuming dilution
Numerator: net loss	$	(7,388)	$	(4,989)
Denominator (weighted):
Common shares		11,834		10,777
Vested RSUs		36		19
Stock options		-		-
Common stock warrants		-		-
Diluted weighted average shares outstanding		11,870		10,796
EPS - diluted	$	(0.62)	$	(0.46)

Excluded dilutive securities:
Common stock issuable (non weighted):
Stock options		1,397		1,198
Common stock warrants		60		60
Total excluded potentially dilutive shares		1,457		1,258

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2016

Accounting Policies [Abstract]

Concentration of Risk, by Risk Factor

Customer	2016			2015
Rite Aid Corporation		55	%		54	%
Cardinal Health, Inc.		13	%		14	%
McKesson Corporation		10	%		*

Customer	2016			2015
AmerisourceBergen Corporation		35	%		**
McKesson Corporation		24	%		11	%
Cardinal Health, Inc.		19	%		**
The Kroger Co.		18	%		**
Rite Aid Corporation		**			68	%

Estimated Lives of Major Classification of Depreciable Assets

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

Non-Cash Share-Based Compensation Expense

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

	Year ended
	December 31,
	2016		2015
Research and development:
Stock option awards	$	167	$	158
RSU awards		-		-
	$	167	$	158

Selling, general and administrative:
Stock option awards		301		384
RSU awards		143		95
	$	444	$	479

Total share-based compensation expense	$	611	$	637

Computation of Diluted Earnings (loss) Per Share

A reconciliation of the numerators and denominators of basic and diluted EPS consisted of the following (in thousands, except per share data):

	Years ended December 31,
	2016		2015
EPS – basic
Numerator: net loss	$	(7,388)	$	(4,989)
Denominator (weighted):
Common shares		11,834		10,777
Vested RSUs		36		19
Basic weighted average shares outstanding		11,870		10,796
EPS - basic	$	(0.62)	$	(0.46)

EPS – assuming dilution
Numerator: net loss	$	(7,388)	$	(4,989)
Denominator (weighted):
Common shares		11,834		10,777
Vested RSUs		36		19
Stock options		-		-
Common stock warrants		-		-
Diluted weighted average shares outstanding		11,870		10,796
EPS - diluted	$	(0.62)	$	(0.46)

Excluded dilutive securities:
Common stock issuable (non weighted):
Stock options		1,397		1,198
Common stock warrants		60		60
Total excluded potentially dilutive shares		1,457		1,258

INVESTMENTS IN MARKETABLE SECURITIES (Tables)

12 Months Ended

Dec. 31, 2016

Investments, Debt and Equity Securities [Abstract]

Marketable securities

Investments in marketable securities at December 31, 2015 consisted of the following (in millions):

	December 31, 2015
Marketable securities:
Corporate bonds — maturing within 1 year	$	3.1
Corporate bonds — maturing after 1 year and through March 2017		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 (in millions):

	December 31, 2015
			Gross		Gross
			Unrealized		Unrealized		Fair
	Cost		Gains		Losses		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 as at December 31, 2015 consisted of the following (in millions):

	December 31, 2015
	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)

12 Months Ended

Dec. 31, 2016

Inventory Disclosure [Abstract]

Inventories

Inventories are summarized as follows (in thousands):

	December 31,
	2016		2015
Raw materials	$	98	$	-
Finished goods		243		346
Total inventory		341		346
Less: inventory reserve - finished goods		(32)		(70)
Net inventory	$	309	$	276

Inventory Reserve

Inventory reserve activity during the years ended December 31, 2016 and 2015 was as follows (in thousands):

	2016		2015
Beginning of year	$	70	$	-
Reserve expense - raw and packaging		-		260
Reserve expense - finished goods		26		70
		96		330
Inventory write-offs - raw and packaging		-		(260)
Inventory write-offs - finished goods		(64)		-
End of year	$	32	$	70

DEBT (Tables)

12 Months Ended

Dec. 31, 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 at December 31, 2016 is summarized below (in thousands):

Current Debt	Current		Long-term		Total
Balance at Dec 31, 2015	$	2,320	$	5,720	$	8,040
Principal payments		(2,540)		-		(2,540)
Classification		2,741		(2,741)		-
Balance at Dec 31, 2016	$	2,521	$	2,979	$	5,500

Debt Discount	Current		Long-term		Total
Balance at Dec 31, 2015	$	-	$	(193)	$	(193)
Amortization expense		-		95		95
Classification		(98)		98		-
Balance at Dec 31, 2016	$	(98)	$	-	$	(98)

Deferred Debt Issuance Costs	Current		Long-term		Total
Balance at Dec 31, 2015	$	-	$	(97)	$	(97)
Amortization expense		-		50		50
Classification		(47)		47		-
Balance at Dec 31, 2016	$	(47)	$	-	$	(47)

Current Debt, net at Dec 31, 2016	$	2,376	$	2,979	$	5,355

Schedule of Interest Expense

Our interest expense consisted of the following (in thousands):

	2016		2015
Interest expense:
Term Loan	$	748	$	971
Debt discount		95		121
Debt issue costs		50		65
Total interest expense	$	893	$	1,157

Schedule Of Long Term Debt Future Principal Payments Year

The annual principal payments of the debt at December 31, 2016 are as follows:

	Annual
	Principal Payments
Year	(in thousands)
2017	$	2,521
2018		2,979
Total	$	5,500

COMMON STOCK WARRANTS (Tables)

12 Months Ended

Dec. 31, 2016

Stockholders Equity Note [Abstract]

Schedule Of Common Stock Warrant Activity

Our warrant activity during the years ended December 31, 2016 and 2015 is shown below (in thousands except price data):

	December 31,
	2016				2015
			WAvg				WAvg
			Exercise				Exercise
	Number		Price		Number		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

EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2016

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

Schedule of Share-based Compensation, Stock Options, Activity

A summary of our stock option plans as of December 31, 2016 and 2015 and for the years then ended consisted of the following (in thousands except exercise price):

	Years Ended December 31,
	2016				2015
			Weighted				Weighted
	Number		Average				Average
	of		Exercise		Number of		Exercise
	Options		Price		Options		Price
Outstanding, beginning		1,198	$	15.67		911	$	20.70
Granted		199		0.92		315		2.01
Exercised		-		-		-		-
Forfeited or expired		-		-		(28)		26.75
Outstanding, ending		1,397	$	15.67		1,198	$	15.67
Exercisable, ending		1,062	$	17.41		814	$	22.04

Schedule of Nonvested Share Activity

The following table summarizes information about nonvested stock options outstanding at December 31, 2016 (in thousands except price data):

	Number of		Weighted
	Options Not		Average Fair
	Exercisable		Value
Outstanding at December 31, 2015		384	$	1.85
Granted		199		0.92
Vested		(248)		1.89
Forfeited		-		-
Outstanding at December 31, 2016		335	$	1.18

Schedule of fair value of the warrants

The assumptions used in the Black-Scholes model to determine fair value for the 2016 and 2015 stock option grants were:

	2016			2015
Expected dividend yield		0.0	%		0.0	%
Risk-free interest rates		2.3	%		2.2	%
Average expected volatility		85	%		89	%
Expected term (years)		10			10
Weighted average grant date fair value	$	0.77		$	1.72

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

A summary of the grants under the RSU Plans as of December 31, 2016 and 2015, and for the years then ended consisted of the following (in thousands):

	Years Ended December 31,
	2016				2015
			Number of				Number of
	Number of		Vested		Number of		Vested
	RSUs		RSUs		RSUs		RSUs
Outstanding, beginning		45		45		29		29
Granted		88		-		42		-
Distributed		(42)		(42)		(26)		(26)
Vested		-		88		-		42
Forfeited or expired		-		-		-		-
Outstanding, ending		91		91		45		45

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Provision for Income Taxes

The reconciliation between our provision for income taxes and the amounts computed by multiplying our loss before taxes by the U.S. statutory tax rate is as follows (in thousands):

	December 31,
	2016		2015
Benefit at U.S. statutory 34% tax rate	$	(2,512)	$	(1,696)
State taxes (benefit), net of federal effect		49		41
Research and development tax credits		-		-
Share-based compensation		159		184
Other		2		11
Change in valuation allowance		2,302		1,460
Provision for income taxes	$	-	$	-

Components Of Deferred Tax Assets

The components of our deferred tax assets are as follows:

	December 31,
	2016		2015
	(in thousands)
Deferred tax assets:
Estimated future value of NOLs
- Federal	$	47,192	$	52,772
- State		2,135		2,050
Research and development tax credits		1,320		1,394
Share-based compensation		57		38
Other, net		332		368
Total deferred taxes		51,036		56,622
Valuation allowance		(51,036)		(56,622)
Net deferred tax assets	$	-	$	-

SUPPLEMENTARY DATA - QUARTERLY FINANCIAL DATA (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2016

Selected Quarterly Financial Information [Abstract]

SUPPLEMENTARY DATA - QUARTERLY FINANCIAL DATA

Selected unaudited quarterly consolidated financial data is shown below (in thousands except per share amounts):

	For Three Month Periods Ended
	Mar. 31,		June 30,		Sept. 30,		Dec. 31,
	2016		2016		2016		2016
Net revenues	$	224	$	257	$	218	$	3,765
Operating expenses		3,362		3,336		2,287		2,036

Operating (loss) income		(3,138)		(3,079)		(2,069)		1,729
Net (loss) income	$	(3,384)	$	(3,288)	$	(2,250)	$	1,534

Basic (loss) income per share	$	(0.28)	$	(0.28)	$	(0.19)	$	0.13
Diluted (loss) income per share	$	(0.28)	$	(0.28)	$	(0.19)	$	0.13

	For Three Month Periods Ended
	Mar. 31,		June 30,		Sept. 30,		Dec. 31,
	2015		2015		2015		2015
Net revenues	$	5,357	$	341	$	210	$	2,679
Operating expenses		3,845		2,739		2,615		3,389

Operating income (loss)		1,512		(2,398)		(2,405)		(710)
Net loss	$	1,239	$	(2,663)	$	(2,649)	$	(916)

Basic income (loss) per share	$	0.13	$	(0.28)	$	(0.23)	$	(0.08)
Diluted income (loss) per share	$	0.13	$	(0.28)	$	(0.23)	$	(0.08)

OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Restricted Cash and Investments	$ 2,500								$ 2,500
Cash, Cash Equivalent And Marketable Securities	2,700								2,700
Working Capital Deficit	700								700
Retained Earnings (Accumulated Deficit), Total	(374,698)				$ (367,310)				(374,698)	$ (367,310)
Operating Income (Loss), Total	1,729	$ (2,069)	$ (3,079)	$ (3,138)	(710)	$ (2,405)	$ (2,398)	$ 1,512	(6,557)	(4,001)
Net Income (Loss) Attributable to Parent, Total	1,534	$ (2,250)	$ (3,288)	$ (3,384)	$ (916)	$ (2,649)	$ (2,663)	$ 1,239	(7,388)	$ (4,989)
Debt Instrument, Debt Default, Amount	2,500								2,500
Oxford Term Loan Agreement [Member]
Debt Instrument, Debt Default, Amount	$ 2,500								$ 2,500

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Concentration of Risk by Risk Factor (Detail)

12 Months Ended

Dec. 31, 2016

Dec. 31, 2015

Sales Revenue, Net

Concentration Risk [Line Items]

Concentration Risk, Percentage

10.00%

Rite Aid Corporation | Sales Revenue, Net

Concentration Risk [Line Items]

Concentration Risk, Percentage

55.00%

54.00%

Rite Aid Corporation | Accounts Receivable

Concentration Risk [Line Items]

Concentration Risk, Percentage

^[1]

68.00%

Cardinal Health, Inc. | Sales Revenue, Net

Concentration Risk [Line Items]

Concentration Risk, Percentage

13.00%

14.00%

Cardinal Health, Inc. | Accounts Receivable

Concentration Risk [Line Items]

Concentration Risk, Percentage

19.00%

^[1]

AmerisourceBergen Corporation | Accounts Receivable

Concentration Risk [Line Items]

Concentration Risk, Percentage

35.00%

^[1]

McKesson Corporation | Sales Revenue, Net

Concentration Risk [Line Items]

Concentration Risk, Percentage

10.00%

^[2]

McKesson Corporation | Accounts Receivable

Concentration Risk [Line Items]

Concentration Risk, Percentage

24.00%

11.00%

Kroger Foods | Accounts Receivable

Concentration Risk [Line Items]

Concentration Risk, Percentage

18.00%

^[1]

[1]	accounted for less than 10% of our gross trade accounts receivable.
[2]	accounted for less than 10% of our annual product sales.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Estimated Useful Lives of the Major Classification of Depreciable Assets (Detail)	12 Months Ended
	Dec. 31, 2016
Building and Building Improvements [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	40 years
Building and Building Improvements [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Land Improvements [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	40 years
Land Improvements [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	20 years
Machinery and Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Machinery and Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	7 years
Scientific Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Scientific Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Computer Hardware and Software [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Computer Hardware and Software [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Non-Cash Share-Based Compensation Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	$ 611	$ 637
Research and Development Expense
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	167	158
Research and Development Expense \| Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	167	158
Research and Development Expense \| Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	0	0
Selling, General and Administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	444	479
Selling, General and Administrative \| Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	301	384
Selling, General and Administrative \| Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	$ 143	$ 95

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Reconciliation of Numerators and Denominators of Basic and Diluted EPS (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
EPS - basic
Numerator: net loss	$ 1,534	$ (2,250)	$ (3,288)	$ (3,384)	$ (916)	$ (2,649)	$ (2,663)	$ 1,239	$ (7,388)	$ (4,989)
Denominator (weighted):
Common shares									11,834	10,777
Vested RSUs									36	19
Basic weighted average shares outstanding									11,870	10,796
EPS - basic	$ 0.13	$ (0.19)	$ (0.28)	$ (0.28)	$ (0.08)	$ (0.23)	$ (0.28)	$ 0.13	$ (0.62)	$ (0.46)
EPS - assuming dilution
Numerator: net loss	$ 1,534	$ (2,250)	$ (3,288)	$ (3,384)	$ (916)	$ (2,649)	$ (2,663)	$ 1,239	$ (7,388)	$ (4,989)
Denominator (weighted):
Common shares									11,834	10,777
Vested RSUs									36	19
Stock options									0	0
Common stock warrants									0	0
Diluted weighted average shares outstanding									11,870	10,796
EPS - diluted	$ 0.13	$ (0.19)	$ (0.28)	$ (0.28)	$ (0.08)	$ (0.23)	$ (0.28)	$ 0.13	$ (0.62)	$ (0.46)
Common stock issuable (non weighted):
Total excluded potentially dilutive shares									1,457	1,258
Common stock warrants [Member]
Common stock issuable (non weighted):
Total excluded potentially dilutive shares									60	60
Employee Stock Option [Member]
Common stock issuable (non weighted):
Total excluded potentially dilutive shares									1,397	1,198

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended			3 Months Ended		12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Jun. 30, 2015	Dec. 31, 2016	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Financing Receivable, Impaired [Line Items]
Royalty Revenue, Total						$ 149	$ 5
Other Revenue, Net						392	170
Sales Revenue, Goods, Net, Total						423	662
Professional and Contract Services Expense						200
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets				$ 162		162
Asset Impairment Charges				82		82	0
Research and Development Arrangement, Remaining Amount, Others				$ 50		50
Nexafed products [Member]
Financing Receivable, Impaired [Line Items]
Sales Revenue, Goods, Net, Total					$ 314
Revenue Recognition, Sales Returns, Reserve for Sales Returns					120	$ 304	$ 205
Related Parties Amount in Cost of Sales					$ 255
Kempharm Agreement [Member]
Financing Receivable, Impaired [Line Items]
Proceeds From Upfront Payment	$ 3,500
Egalet Ltd [Member]
Financing Receivable, Impaired [Line Items]
Loss Contingency, Settlement Agreement, Terms						Egalet paid us $5.0 million upon signing the Egalet Agreement
Proceeds from Milestone Payment On Agreement		$ 2,500
Sales Revenue, Net [Member]
Financing Receivable, Impaired [Line Items]
Concentration Risk, Percentage						10.00%
Sales Revenue, Net [Member] \| Minimum [Member]
Financing Receivable, Impaired [Line Items]
Concentration Risk, Percentage						10.00%
Purdue Pharma [Member]
Financing Receivable, Impaired [Line Items]
Litigation Settlement, Expense			$ 250					$ 500

LICENSE, DEVELOPMENT, AND COMMERCIALIZATION AGREEMENTS - Additional Information (Detail) - USD ($)		1 Months Ended		12 Months Ended
	Oct. 09, 2015	Mar. 16, 2017	Oct. 31, 2016	Dec. 31, 2016	Dec. 31, 2015	Mar. 31, 2017
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				$ 260,000
Amortization of Intangible Assets				207,000	$ 207,000
Subsequent Event [Member]
License Development and Commercialization Agreement [Line Items]
License Agreement Option Products Description		In addition, MainPointe has the option to add to the MainPointe Agreement certain additional products, or Option Products, containing PSE and utilizing the Impede technology for a fee of $500,000 per product (for all product strengths). If the territory has been expanded prior to the exercise of a product option, the option fee will be increased to $750,000 per product. If the territory is expanded after the payment of the $500,000 product option fee, a one-time $250,000 fee will be due for each product. If a third party is interested in developing or licensing rights to an Option Product, MainPointe must exercise its option for that product or its option rights for such product will terminate.
Pfizer Agreement
License Development and Commercialization Agreement [Line Items]
Payment for Termination				$ 2,000,000
Pfizer Agreement \| Subsequent Event [Member]
License Development and Commercialization Agreement [Line Items]
Finite-Lived Intangible Asset, Useful Life		9 years 8 months 12 days
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months						$ 207,000
Finite-Lived Intangible Assets, Amortization Expense, Year Two		$ 207,000
Finite-Lived Intangible Assets, Amortization Expense, Year Three		207,000
Finite-Lived Intangible Assets, Amortization Expense, Year Four		207,000
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	$ 5,000,000
Proceeds from Milestone Payment On Agreement	$ 2,500,000
Main Pointe Agreement [Member] \| Subsequent Event [Member]
License Development and Commercialization Agreement [Line Items]
Proceeds from License Fees Received		2,500,000
Asset Transferred, License Agreement		$ 425,000
Licensing Agreement, Royalty Percentage		7.50%
Main Pointe Agreement [Member] \| Subsequent Event [Member] \| UNITED KINGDOM
License Development and Commercialization Agreement [Line Items]
Proceeds from License Fees Received		$ 1,000,000
Main Pointe Agreement [Member] \| Subsequent Event [Member] \| JAPAN
License Development and Commercialization Agreement [Line Items]
Proceeds from License Fees Received		500,000
Main Pointe Agreement [Member] \| Subsequent Event [Member] \| South Korea [Member]
License Development and Commercialization Agreement [Line Items]
Proceeds from License Fees Received		$ 250,000
Kempharm Agreement [Member]
License Development and Commercialization Agreement [Line Items]
Proceeds from License Fees Received			$ 3,500,000
Kempharm Agreement [Member] \| Minimum
License Development and Commercialization Agreement [Line Items]
Additional Upfront Payment Receivable			$ 1,000,000

INVESTMENTS IN MARKETABLE SECURITIES - Summary of Investments in Marketable Securities (Detail) $ in Millions	Dec. 31, 2015 USD ($)
Marketable securities:
Corporate bonds — maturing within 1 year	$ 3.1
Corporate bonds — maturing after 1 year and through March 2017	0.4
Total marketable securities	10.8
Exchange-traded funds
Marketable securities:
Total marketable securities	$ 7.3

INVESTMENTS IN MARKETABLE SECURITIES - Fair Value and Unrealized Gains (Losses) related to the Company’s Available-For-Sale Securities (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2015 USD ($)
Available-for-sale:
Cost	$ 10.9
Gross Unrealized Gains	0.0
Gross Unrealized Losses	(0.1)
Fair Value	10.8
Corporate Bonds
Available-for-sale:
Cost	3.6
Gross Unrealized Gains	0.0
Gross Unrealized Losses	(0.1)
Fair Value	3.5
Exchange-traded funds
Available-for-sale:
Cost	7.3
Gross Unrealized Gains	0.0
Gross Unrealized Losses	0.0
Fair Value	$ 7.3

INVESTMENTS IN MARKETABLE SECURITIES - Assets Measured at Fair Value or Disclosed at Fair Value on Recurring Basis (Detail) $ in Millions	Dec. 31, 2015 USD ($)
Assets:
Total marketable securities	$ 10.8
Corporate bonds
Assets:
Total marketable securities	3.5
Exchange-traded funds
Assets:
Total marketable securities	7.3
Fair Value, Inputs, Level 1
Assets:
Total marketable securities	7.3
Fair Value, Inputs, Level 1 \| Corporate bonds
Assets:
Total marketable securities	0.0
Fair Value, Inputs, Level 1 \| Exchange-traded funds
Assets:
Total marketable securities	7.3
Fair Value, Inputs, Level 2
Assets:
Total marketable securities	3.5
Fair Value, Inputs, Level 2 \| Corporate bonds
Assets:
Total marketable securities	3.5
Fair Value, Inputs, Level 2 \| Exchange-traded funds
Assets:
Total marketable securities	0.0
Fair Value, Inputs, Level 3
Assets:
Total marketable securities	0.0
Fair Value, Inputs, Level 3 \| Corporate bonds
Assets:
Total marketable securities	0.0
Fair Value, Inputs, Level 3 \| Exchange-traded funds
Assets:
Total marketable securities	$ 0.0

INVENTORIES - Schedule of Inventories (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Inventory [Line Items]
Raw materials	$ 98	$ 0
Finished goods	243	346
Total inventory	341	346
Less: inventory reserve - finished goods	(32)	(70)	$ 0
Net inventory	$ 309	$ 276

INVENTORIES - Inventory Reserve (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Inventory [Line Items]
Beginning of year	$ 70	$ 0
Reserve expense - raw and packaging	0	260	$ 260
Reserve expense - finished goods	26	70
Inventory Reserve Expense	96	330
Inventory write-offs - raw and packaging	0	(260)
Inventory write-offs - finished goods	(64)	0
End of year	$ 32	$ 70	$ 0

PROPERTY, PLANT AND EQUIPMENT (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 2,807	$ 2,754
Less: impairment reserve	(82)	0
Less: accumulated depreciation	(1,858)	(1,741)
Total property, plant and equipment, net	867	1,013
Building and improvements
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	1,273	1,265
Scientific equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	598	598
Computer hardware and software
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	109	124
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	568	508
Land and improvements
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	162	162
Other personal property
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	70	70
Office equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 27	$ 27

ACCRUED EXPENSES (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Accounts Payable and Accrued Liabilities [Line Items]
Professional services	$ 232	$ 171
Other fees and services	95	64
Payroll, payroll taxes and benefits	116	101
Clinical and regulatory services	233	92
Marketing, advertising, and promotion	10	115
Property taxes	16	15
Franchise taxes	1	6
Total	$ 703	$ 564

DEBT - Fair Value of Warrants using the Black-Scholes option-pricing model - (Detail) - Warrant [Member]	12 Months Ended
	Dec. 31, 2016
Fair Value Of Warrants [Line Items]
Expected dividend yield	0.00%
Risk-free interest rates	2.40%
Expected volatility	92.00%
Expected term (years)	7 years

DEBT - Summary of Debt (Detail) $ in Thousands	12 Months Ended
DEBT - Summary of Debt (Detail) $ in Thousands	Dec. 31, 2016 USD ($)
Current Debt
Balance at Dec 31, 2015	$ 8,040
Principal payments	(2,540)
Classification	0
Balance at Dec 31, 2016	5,500
Debt Discount
Balance at Dec 31, 2015	(193)
Amortization expense	95
Classification	0
Balance at Dec 31, 2016	(98)
Deferred Debt Issuance Costs
Balance at Dec 31, 2015	(97)
Amortization expense	50
Classification	0
Balance at Dec 31, 2016	(47)
Current Debt, net at Dec 31, 2016	5,355
Long-term [Member]
Current Debt
Balance at Dec 31, 2015	5,720
Principal payments	0
Classification	(2,741)
Balance at Dec 31, 2016	2,979
Debt Discount
Balance at Dec 31, 2015	(193)
Amortization expense	95
Classification	98
Balance at Dec 31, 2016	0
Deferred Debt Issuance Costs
Balance at Dec 31, 2015	(97)
Amortization expense	50
Classification	47
Balance at Dec 31, 2016	0
Current Debt, net at Dec 31, 2016	2,979
Current [Member]
Current Debt
Balance at Dec 31, 2015	2,320
Principal payments	(2,540)
Classification	2,741
Balance at Dec 31, 2016	2,521
Debt Discount
Balance at Dec 31, 2015	0
Amortization expense	0
Classification	(98)
Balance at Dec 31, 2016	(98)
Deferred Debt Issuance Costs
Balance at Dec 31, 2015	0
Amortization expense	0
Classification	(47)
Balance at Dec 31, 2016	(47)
Current Debt, net at Dec 31, 2016	$ 2,376

DEBT - Interest Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
DEBT - Interest Expense (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Interest expense:
Term Loan	$ 748	$ 971
Debt discount	95	121
Debt issue costs	50	65
Total interest expense	$ 893	$ 1,157

DEBT - Long-Term Debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
2017	$ 2,521
2018	2,979
Total	$ 5,500	$ 8,040

DEBT - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		1 Months Ended		12 Months Ended
	Jan. 07, 2015	Oct. 31, 2016	Apr. 18, 2013	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 27, 2013
Debt Instrument [Line Items]
Debt instrument principal amount							$ 10,000
Debt default long term debt percentage							13.35%
Debt Instrument, Maturity Date				Dec. 01, 2018
Debt instrument, fee amount				$ 50
Debt consulting placement fee				100
Debt related commitment fees and debt issuance costs				50	$ 65
Debt instrument unamortized discount				98	$ 193
Class of Warrant or Right, Exercise Price of Warrants or Rights					$ 2.52	$ 7.98
Debt instrument Cash Maintenance	$ 2,500
Repayments of Debt				2,540	$ 1,960
Debt Instrument, Periodic Payment				260
Debt instrument, periodic payment, principal				$ 2,540
Debt Instrument, Interest Rate, Effective Percentage				10.16%
Proceeds from Issuance or Sale of Equity		$ 6,000	$ 13,000
Term Loan [Member]
Debt Instrument [Line Items]
Debt related commitment fees and debt issuance costs				$ 231
Interest Payable, Current				559	$ 387
Loan Agreement [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage							8.35%
Repayments of Debt	$ 5,000	5,000
Proceeds from Issuance or Sale of Equity		2,500
Maximum [Member]
Debt Instrument [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 7.98
Minimum [Member]
Debt Instrument [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 2.52
Proceeds from Issuance or Sale of Equity		$ 3,000
Warrant
Debt Instrument [Line Items]
Debt instrument unamortized discount				$ 400
Warrants to purchase common stock				60
Class of Warrant or Right, Exercise Price of Warrants or Rights				$ 7.98
Warrants, expiry date				December 27, 2020
Additions To Debt Instrument Unamortized Discount	$ 33
First Revenue Event Occurs
Debt Instrument [Line Items]
Debt instrument periodic payment terms balloon payment to be paid				$ 795
Prior To December 27 2015
Debt Instrument [Line Items]
Debt instrument prepayment percentage				1.00%

EQUITY FINANCINGS - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	1 Months Ended		6 Months Ended	12 Months Ended
	Oct. 31, 2016	Apr. 18, 2013	Jun. 30, 2015	Dec. 31, 2015	Dec. 31, 2016
Equity Financing [Line Items]
Proceeds from sale of common stock	$ 6,000	$ 13,000
Sale leaseback transaction, transaction costs, financing activities				$ 8
Sale leaseback transaction, net proceeds, financing activities				$ 217
Placement agency reimbursed for expenses			$ 496
Common Stock, Par or Stated Value Per Share				$ 0.01	$ 0.01
Common Stock [Member]
Equity Financing [Line Items]
Proceeds from sale of common stock				$ 225
Stock issued during period, shares, new issues				54
Placement Agency Agreement [Member]
Equity Financing [Line Items]
Stock issued during period, shares, new issues			1,958
Share price			$ 0.01
Proceeds from issuance of private placement			$ 7,000
Description for repayment of placement agent			paid Roth a cash placement fee equal to 6.5% of the gross proceeds in the Offering
Placement agency reimbursed for expenses			$ 35
Common Stock, Par or Stated Value Per Share			$ 01
Securities Purchase Agreement [Member]
Equity Financing [Line Items]
Stock issued during period, shares, new issues			1,958
Share price			$ 3.90
Proceeds from issuance of private placement			$ 7,640

COMMON STOCK WARRANTS - Schedule Of Common Stock Warrant Activity (Detail) - Warrant [Member] - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 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
Issued	0	0
Exercised	0	0
Expired	0	0
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	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 2.52	$ 7.98
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	$ 7.98

EMPLOYEE BENEFIT PLANS - Stock Option Award Activity (Detail) - Stock Option Plan [Member] - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Share based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options Outstanding, beginning	1,198	911
Number of Options, Granted	199	315
Number of Options, Exercised	0	0
Number of Options, Forfeited or expired	0	(28)
Number of Options Outstanding, ending	1,397	1,198
Number of Options exercisable	1,062	814
Weighted Average Exercise Price, beginning	$ 15.67	$ 20.70
Weighted Average Exercise Price, Granted	0.92	2.01
Weighted Average Exercise Price, Exercised	0	0
Weighted Average Exercise Price, Forfeited or expired	0	26.75
Weighted Average Exercise Price, ending	15.67	15.67
Weighted Average Exercise Price, Options exercisable	$ 17.41	$ 22.04

EMPLOYEE BENEFIT PLANS - Summary of Information about Non Vested Stock Options (Detail) shares in Thousands	12 Months Ended
	Dec. 31, 2016 $ / shares shares
Summary Of Information About Non Vested Stock Options Disclosure [Line Items]
Outstanding, beginning \| shares	384
Granted \| shares	199
Vested \| shares	(248)
Forfeited \| shares	0
Outstanding, ending \| shares	335
Outstanding beginning, Weighted Average Fair Value \| $ / shares	$ 1.85
Granted, Weighted Average Fair Value \| $ / shares	0.92
Vested, Weighted Average Fair Value \| $ / shares	1.89
Forfeited, Weighted Average Fair Value \| $ / shares	0
Outstanding ending, Weighted Average Fair Value \| $ / shares	$ 1.18

EMPLOYEE BENEFIT PLANS - Assumptions Used in Black-Scholes Model to Determine Fair Value for Stock Option Awards Granted (Detail) - Stock Option [Member] - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Share based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield	0.00%	0.00%
Risk-free interest rates	2.30%	2.20%
Average expected volatility	85.00%	89.00%
Expected term (years)	10 years	10 years
Weighted average grant date fair value	$ 0.77	$ 1.72

EMPLOYEE BENEFIT PLANS - Summary of RSU Plan (Detail) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Share based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, beginning	384
Granted	199
Vested	248
Forfeited or expired	0
Outstanding, ending	335	384
Restricted Stock Units [Member]
Share based Compensation Arrangement by Share-based Payment Award [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 (RSUs) [Member]
Share based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, beginning	45	29
Granted	0	0
Distributed	(42)	(26)
Vested	88	42
Forfeited or expired	0	0
Outstanding, ending	91	45

EMPLOYEE BENEFIT PLANS - Additional Information (Detail) - USD ($) shares in Thousands, $ in Thousands		1 Months Ended			8 Months Ended	12 Months Ended
	Jan. 03, 2017	Jan. 04, 2016	Jun. 30, 2014	May 01, 2014	Jan. 02, 2015	Dec. 31, 2016	Dec. 31, 2014	Dec. 31, 2015
Employee Benefit Plans Disclosure [Line Items]
Aggregate intrinsic value of the option awards vested								$ 6
Unrecognized compensation cost on unvested option awards outstanding						$ 400
Share Based Compensation Arrangement Share Based Payment Shares Reserved For Future Distribution		66
401(k) and Profit-Sharing Plan
Employee Benefit Plans Disclosure [Line Items]
Maximum basic contribution percentage per employee on annual earnings						80.00%
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
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period		1			26
Share Based Compensation Arrangement Share Based Payment Shares Reserved For Future Distribution		42			4
Share-based Compensation Arrangement by Share-based Payment Award, Shares Purchased for Award						241
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		22	7
2014 Restricted Stock Unit Award Plan [Member] \| Distributed In Common Stock [Member]
Employee Benefit Plans Disclosure [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period		42			26
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		33			19
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		7	10
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		25.00%	50.00%		25.00%		25.00%
Share-based Compensation Arrangement by Share-based Payment Award, Description		stock, for up to 40%			stock, for up to 40%
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value							$ 26
Share Based Compensation Arrangement Share Based Payment Shares Reserved For Future Distribution		2
Deferred Compensation Arrangement with Individual, Recorded Liability						$ 27		$ 45
2014 Restricted Stock Unit Award Plan [Member] \| Subsequent Event [Member]
Employee Benefit Plans Disclosure [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	1
Share Based Compensation Arrangement Share Based Payment Shares Reserved For Future Distribution	66
2014 Restricted Stock Unit Award Plan [Member] \| Subsequent Event [Member] \| Settled In Cash [Member]
Employee Benefit Plans Disclosure [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	18
2014 Restricted Stock Unit Award Plan [Member] \| Subsequent Event [Member] \| Distributed In Common Stock [Member]
Employee Benefit Plans Disclosure [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	67
2014 Restricted Stock Unit Award Plan [Member] \| Subsequent Event [Member] \| Convertible Common Stock [Member]
Employee Benefit Plans Disclosure [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	49
2014 Restricted Stock Unit Award Plan [Member] \| Subsequent Event [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	60
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	25.00%
Share-based Compensation Arrangement by Share-based Payment Award, Description	stock, for up to 40%
Share Based Compensation Arrangement Share Based Payment Shares Reserved For Future Distribution	1

INCOME TAXES - Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Provision For Income Taxes [Line Items]
Benefit at U.S. statutory 34% tax rate	$ (2,512)	$ (1,696)
State taxes (benefit), net of federal effect	49	41
Research and development tax credits	0	0
Share-based compensation	159	184
Other	2	11
Change in valuation allowance	2,302	1,460
Provision for income taxes	$ 0	$ 0

INCOME TAXES - Components of Our Deferred Tax Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Deferred tax assets:
- Federal	$ 47,192	$ 52,772
- State	2,135	2,050
Research and development tax credits	1,320	1,394
Share-based compensation	57	38
Other, net	332	368
Total deferred taxes	51,036	56,622
Valuation allowance	(51,036)	(56,622)
Net deferred tax assets	$ 0	$ 0

INCOME TAXES - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Line Items]
Federal income tax benefits	$ 47,200
Federal NOLs	$ 138,800
U.S. statutory tax rate	34.00%
Research and development tax credits	$ 1,320	$ 1,394
State income tax benefits	2,100
Valuation allowance, deferred tax asset, change in amount	5,600	$ 600
Federal Research and Development
Income Tax Disclosure [Line Items]
Research and development tax credits	1,200
Indiana State Research and Development
Income Tax Disclosure [Line Items]
Research and development tax credits	$ 200
Maximum
Income Tax Disclosure [Line Items]
NOL expiration year	2036
Minimum
Income Tax Disclosure [Line Items]
NOL expiration year	2017

COMMITMENTS AND CONTINGENCIES - Additional Information (Detail)	1 Months Ended	12 Months Ended
	Jun. 30, 2015 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2014 USD ($)
Commitments and Contingencies Disclosure [Line Items]
Accrued Cost Sharing Expenses Clinical Studies		$ 95,000
Purdue Pharma [Member]
Commitments and Contingencies Disclosure [Line Items]
Litigation Settlement, Expense	$ 250,000		$ 500,000
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 Illinois
Commitments and Contingencies Disclosure [Line Items]
Leases administrative office space		$ 25,000
Lease expiring date		March 31, 2017

SUBSEQUENT EVENT - Additional Information (Detail) - Subsequent Event [Member]	1 Months Ended
	Mar. 16, 2017 USD ($)
Subsequent Event [Line Items]
License Agreement Option Products Description	In addition, MainPointe has the option to add to the MainPointe Agreement certain additional products, or Option Products, containing PSE and utilizing the Impede technology for a fee of $500,000 per product (for all product strengths). If the territory has been expanded prior to the exercise of a product option, the option fee will be increased to $750,000 per product. If the territory is expanded after the payment of the $500,000 product option fee, a one-time $250,000 fee will be due for each product. If a third party is interested in developing or licensing rights to an Option Product, MainPointe must exercise its option for that product or its option rights for such product will terminate.
Main Pointe Agreement [Member]
Subsequent Event [Line Items]
Proceeds from License Fees Received	$ 2,500,000
Asset Transferred, License Agreement	$ 425,000
Licensing Agreement, Royalty Percentage	7.50%
Main Pointe Agreement [Member] \| UNITED KINGDOM
Subsequent Event [Line Items]
Proceeds from License Fees Received	$ 1,000,000
Main Pointe Agreement [Member] \| JAPAN
Subsequent Event [Line Items]
Proceeds from License Fees Received	500,000
Main Pointe Agreement [Member] \| South Korea [Member]
Subsequent Event [Line Items]
Proceeds from License Fees Received	$ 250,000

SUPPLEMENTARY DATA - QUARTERLY FINANCIAL DATA (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Schedule Of Quarterly Financial Information [Line Items]
Net revenues	$ 3,765	$ 218	$ 257	$ 224	$ 2,679	$ 210	$ 341	$ 5,357	$ 4,464	$ 8,587
Operating expenses	2,036	2,287	3,336	3,362	3,389	2,615	2,739	3,845	11,021	12,588
Operating (loss) income	1,729	(2,069)	(3,079)	(3,138)	(710)	(2,405)	(2,398)	1,512	(6,557)	(4,001)
Net (loss) income	$ 1,534	$ (2,250)	$ (3,288)	$ (3,384)	$ (916)	$ (2,649)	$ (2,663)	$ 1,239	$ (7,388)	$ (4,989)
Basic (loss) income per share	$ 0.13	$ (0.19)	$ (0.28)	$ (0.28)	$ (0.08)	$ (0.23)	$ (0.28)	$ 0.13	$ (0.62)	$ (0.46)
Diluted (loss) income per share	$ 0.13	$ (0.19)	$ (0.28)	$ (0.28)	$ (0.08)	$ (0.23)	$ (0.28)	$ 0.13	$ (0.62)	$ (0.46)

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2015 USD ($)
Direct Offering [Member]
Net offering costs	$ 603
Market Offering [Member]
Net offering costs	$ 8

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