Document And Entity Information - shares	3 Months Ended
Document And Entity Information - shares	Mar. 31, 2017	May 05, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q1
Entity Registrant Name	ACURA PHARMACEUTICALS, INC
Entity Central Index Key	0000786947
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	ACUR
Entity Common Stock, Shares Outstanding		11,883,339

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Assets
Cash and cash equivalents	$ 3,843	$ 2,681
Restricted cash equivalents (Note 9)	2,500	2,500
Trade accounts receivable (net of allowances of $27 and $7)	6	23
Collaboration revenue receivable	36	79
Royalty receivable	52	50
Inventories (net of allowances of $- and $32) (Note 6)	0	309
Prepaid expenses and other current assets	301	268
Total current assets	6,738	5,910
Property, plant and equipment, net (Note 7)	739	867
Intangible asset, net of accumulated amortization of $621 and $569 (Note 4)	1,379	1,431
Total assets	8,856	8,208
Liabilities:
Accounts payable	209	77
Accrued expenses (Note 8)	1,040	703
Accrued interest	35	0
Other current liabilities	19	27
Sales returns liability	302	304
Debt - current (Note 9)	2,798	2,376
Total current liabilities	4,403	3,487
Debt - non-current portion, net of discounts (Note 9)	2,142	2,979
Accrued interest - non-current portion	598	559
Total liabilities	7,143	7,025
Commitments and contingencies (Note 14)
Stockholders' equity:
Common stock - $.01 par value per share; 100,000 shares authorized, 11,883 and 11,834 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively	119	118
Additional paid-in capital	375,887	375,763
Accumulated deficit	(374,293)	(374,698)
Total stockholders' equity	1,713	1,183
Total liabilities and stockholders' equity	$ 8,856	$ 8,208

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Accounts receivable, net of allowances	$ 27	$ 7
Finite-lived intangible assets accumulated amortization	$ 621	$ 569
Common stock, par value	$ 0.01	$ 10
Common stock, shares authorized	100,000	100,000
Common stock, shares issued	11,883	11,834
Common stock, shares outstanding	11,883	11,834
Inventory Valuation Reserves	$ 0	$ 32

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenues:
License fee revenue	$ 2,500	$ 0
Collaboration revenue	36	100
Royalty revenue	74	17
Product sales, net	107	107
Total revenues, net	2,717	224
Cost and expenses:
Cost of sales	128	102
Research and development	711	1,014
Sales, marketing, general and administrative	1,296	2,246
Total costs and expenses	2,135	3,362
Operating income (loss)	582	(3,138)
Non-Operating income (expense):
Investment income	1	27
Interest expense (Note 9)	(178)	(249)
Other income	0	(24)
Total other expense, net	(177)	(246)
Income (loss) before provision for income taxes	405	(3,384)
Provision for income taxes	0	0
Net income (loss)	405	(3,384)
Other comprehensive income:
Unrealized gains on securities	0	70
Comprehensive income (loss)	$ 405	$ (3,314)
Income (loss) per share:
Basic	$ 0.03	$ (0.28)
Diluted	$ 0.03	$ (0.28)
Weighted average shares outstanding:
Basic	11,907	11,837
Diluted	12,083	11,837

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - 3 months ended Mar. 31, 2017 - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit
Balance at Dec. 31, 2016	$ 1,183	$ 118	$ 375,763	$ (374,698)
Balance (in shares) at Dec. 31, 2016		11,834
Net income	405	$ 0	0	405
Share-based compensation	117	0	117	0
Net distribution of common stock pursuant to restricted stock unit award plan	8	$ 1	7	0
Net distribution of common stock pursuant to restricted stock unit award plan (in shares)		49
Balance at Mar. 31, 2017	$ 1,713	$ 119	$ 375,887	$ (374,293)
Balance (in shares) at Mar. 31, 2017		11,883

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash Flows from Operating Activities:
Net income (loss)	$ 405	$ (3,384)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation	25	34
Provision for sales returns	49	39
Share-based compensation	117	150
Amortization of debt discount and deferred debt issue costs	30	40
Amortization of bond premium in marketable securities	0	19
Amortization of intangible asset	52	52
Loss on sales of marketable securities	0	24
Changes in assets and liabilities:
Trade accounts receivable	17	(57)
Collaboration revenue receivable	43	0
Royalty receivable	(2)	0
Accrued investment income	0	12
Inventories	103	74
Prepaid expenses and other current assets	(33)	121
Accounts payable	132	265
Accrued expenses	337	591
Accrued interest	74	99
Other current liabilities	0	1
Sales returns liability	(51)	(2)
Net cash provided by (used in) operating activities	1,298	(1,922)
Cash Flows from Investing Activities:
Proceeds from sales and maturities of marketable securities	0	3,177
Proceeds from transfer of equipment to licensee	103	0
Proceeds from transfer of inventory to licensee	206	0
Capital expenditures	0	(49)
Net cash provided by investing activities	309	3,128
Cash Flows from Financing Activities:
Principal payments on debt	(445)	(409)
Net cash (used in) financing activities	(445)	(409)
Net increase in cash, cash equivalents, and restricted cash	1,162	797
Cash, cash equivalents, and restricted cash at beginning of period	5,181	2,485
Cash, cash equivalents, and restricted cash at end of period	6,343	3,282
Cash paid during the year for:
Interest	75	110
Income taxes	0	0
Reconciliation of cash, cash equivalents, and restricted cash [Abstract]
Cash and cash equivalents	3,843	782
Restricted cash equivalents	2,500	2,500
Total cash, cash equivalents and restricted cash show in the consolidated statements of cash flows	$ 6,343	$ 3,282

OPERATIONS

3 Months Ended

Mar. 31, 2017

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

OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 1 – OPERATIONS

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 (“MainPointe”), entered into a License, Commercialization and Option Agreement (“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 March 31, 2017, we had unrestricted cash and cash equivalents of $3.8 million, working capital deficit of $0.2 million and an accumulated deficit of $374.3 million. Though we had income from operations of $0.6 million and net income of $0.4 million for the three months ended March 31, 2017, we have suffered annual losses from operations in prior years and have not generated or have generated limited annual positive cash flows from operations. Our current unrestricted cash and cash equivalents will not be sufficient to fund the development of our products 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 or Oxford.

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.

RECENT ACCOUNTING PRONOUNCEMENTS

3 Months Ended

Mar. 31, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

RECENT ACCOUNTING PRONOUNCEMENTS

NOTE 2 – RECENT ACCOUNTING PRONOUNCEMENTS

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 related disclosures and have not yet determined the transition method we will utilize to adopt the standard for use in 2018.

Inventories

In July 2015, the FASB issued ASU No. 2015-11, which amended Accounting Standards Codification (“ASC”) Topic 330 Inventory. The amendment simplifies the measurement of inventory, applying to inventories for which cost is determined by methods other than last-in first-out (LIFO) and the retail inventory method (RIM), specifying that an entity should measure inventory at the lower of cost and net realizable value instead of at the lower of cost or market. The amendments in this ASU were effective for annual and interim periods, within those fiscal years, beginning after December 15, 2016. The Company adopted the guidance of the standard in the first quarter of 2017 which did not have a material impact on the Company’s consolidated financial statements.

Leases

In February 2016, the FASB issued ASU 2016-02, Leases, which will require most leases (with the exception of leases with terms of one year or less) 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 impact that the standard will have on the consolidated financial statements and related footnote disclosures, and has not yet determined what effect, if any, the impact of adoption will be.

Employee Share-Based

In March 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-09, Improvements to Employee Share-Based Payment Accounting, which provides for simplification of certain aspects of employee share-based payment accounting including income taxes, classification of awards as either equity or liabilities, accounting for forfeitures and classification on the statement of cash flows. ASU 2016-09 is to be applied either prospectively, retrospectively or using a modified retrospective transition approach depending on the area covered in this update. The new standard was effective for annual and interim periods, within those fiscal years, beginning after December 15, 2016. The Company adopted the guidance in the first quarter of 2017 which did not have a material impact on the Company’s consolidated financial statements.

Intra-Entity Transfers of Assets Other Than Inventory

In October 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-16, Intra-Entity Transfers of Assets Other Than Inventory. ASU 2016-16 eliminates from Topic 740, Income Taxes, the recognition exception for intra-entity asset transfers other than inventory so that an entity’s consolidated financial statements reflect the current and deferred tax consequences of those intra-entity asset transfers when they occur. The new standard will be effective for annual and interim periods, within those fiscal years, beginning after December 15, 2017 but early adoption is permitted. The Company is currently evaluating the impact that the standard will have on the consolidated financial statements and related footnote disclosures, and has not yet determined what effect, if any, the impact of adoption will be.

Statement of Cash Flows - Restricted Cash

In November 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-18, Statements of Cash Flows (Topic 230): Restricted Cash. ASU 2016-18 requires that at statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. The new standard will be effective for annual and interim periods, within those fiscal years, beginning after December 15, 2017 but early adoption is permitted. The Company early adopted the guidance in the first quarter of 2017 which did not have a material impact on the Company’s consolidated financial statements or related footnote disclosures.

LICENSE, DEVELOPMENT, AND COMMERCIALIZATION AGREEMENTS

3 Months Ended

Mar. 31, 2017

Research and Development Disclosure [Abstract]

LICENSE, DEVELOPMENT, AND COMMERCIALIZATION AGREEMENT

NOTE 3 – LICENSE, DEVELOPMENT, AND COMMERCIALIZATION AGREEMENTS

MainPointe Agreement

On March 16, 2017, we and MainPointe entered into 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 $309 thousand for inventories and equipment being transferred to them. They also paid us $117 thousand for Nexafed inventory under manufacture by one of our contract manufacturing organizations. The MainPointe Agreement also provides for our receipt of a 7.5% royalty on net sales of the 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 thousand and $250 thousand, respectively. In addition, MainPointe has the option to add to the MainPointe Agreement certain additional products, or Option Products, containing pseudoephedrine (“PSE”) and utilizing the Impede technology for a fee of $500 thousand 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 thousand per product. If the territory is expanded after the payment of the $500 thousand product option fee, a one-time $250 thousand 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.

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.

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 three months ended March 31, 2017 and 2016, we recorded amortization expense of $52 thousand. Annual amortization of the patent for years 2017 through 2021 is expected to approximate $207 thousand.

REVENUE RECOGNITION

3 Months Ended

Mar. 31, 2017

Revenue Recognition [Abstract]

REVENUE RECOGNITION

NOTE 4 - REVENUE RECOGNITION

License Fee Revenue

On signing the MainPointe Agreement, MainPointe paid us an upfront licensing fee of $2.5 million. 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 3).

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.

Collaboration Revenue

Collaboration revenue is derived from research and development services we provide, such as under our agreement with Bayer, and are recognized when those services 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 service’s hourly rates pursuant to the collaboration agreement. We recognized $36 thousand and $100 thousand of collaboration revenue during the three months ended March 31, 2017 and 2016, 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. We have recorded royalties of $72 thousand and $17 thousand on net sales for the three months ended March 31, 2017 and 2016, respectively. (see Note 3).

In connection with our License, Commercialization and Option Agreement with MainPointe, which occurred on March 16, 2017, we will receive a royalty of 7.5% on net sales of the licensed products over the term of the agreement. Such royalty shall be payable for sales made during each calendar quarter and payment will be remitted within forty-five (45) days after the end of the quarter to which it relates. We have recorded royalties of $2 thousand on net sales for the three months ended March 31, 2017 (see Note 3).

Product Sales

Nexafed was launched in mid-December 2012 and Nexafed Sinus Pressure + Pain was launched in February 2015. Prior to entering into the MainPointe Agreement, we sold our Nexafed products in the United States to wholesale pharmaceutical distributors as well as directly to chain drug stores. Our Nexafed products were 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 had been extended to thirty-six months for Nexafed product supplied to us during 2016 from one of the Company’s contract manufacturers. Prior to entering into the MainPointe Agreement, we recognized revenue from our Nexafed product line sales when the price was fixed and determinable at the date of sale, title and risk of ownership were transferred to the customer, and returns could be reasonably estimated, which generally occurred at the time of product shipment.

Shipping and Handling Costs

We record shipping and handling costs in selling expenses. The amounts recorded to selling expenses from the shipments of the Nexafed product line during each of the three month periods ended March 31, 2017 and 2016 were not material. As of mid-March 2017 we no longer manufacture, distribute or sell the Nexafed product line as the Company granted MainPointe an exclusive license to our Impede technology to commercialize our Nexafed products in the U.S. and Canada.

RESEARCH AND DEVELOPMENT ACTIVITIES

3 Months Ended

Mar. 31, 2017

Research and Development [Abstract]

RESEARCH AND DEVELOPMENT ACTIVITIES

NOTE 5 - 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 both March 31, 2017 and December 31, 2016. At March 31, 2017 our remaining obligations under cancelable CRO arrangements were approximately $0.1 million, for services to be incurred as subjects are enrolled and progress through the studies and the final study reports are completed. We did not have prepaid CRO costs or prepaid clinical trial study expenses at either March 31, 2017 or December 31, 2016.

- Definition

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

+ References + Details

INVENTORIES

3 Months Ended

Mar. 31, 2017

Inventory Disclosure [Abstract]

INVENTORIES

NOTE 6 – INVENTORIES

Inventories are stated at the lower of cost (first-in, first-out method) or 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 at December 31, 2016 are summarized as follows:

	December 31,
	2016
	(in thousands)
Raw and packaging materials	$	98
Finished goods		243
Total		341
Less: reserve for finished goods		(32)
Net inventories	$	309

PROPERTY, PLANT AND EQUIPMENT

3 Months Ended

Mar. 31, 2017

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

NOTE 7 – PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment at March 31, 2017 and December 31, 2016 are summarized as follows:

	March 31,		December 31,
	2017		2016
	(in thousands)
Building and improvements	$	1,273	$	1,273
Scientific equipment		598		598
Computer hardware and software		109		109
Machinery and equipment		415		568
Land and improvements		162		162
Other personal property		70		70
Office equipment		27		27
Total		2,654		2,807
Less: impairment reserve		(82)		(82)
Less: accumulated depreciation		(1,833)		(1,858)
Net property, plant and equipment	$	739	$	867

The impairment reserve of $82 thousand is for our remaining Nexafed production machinery and other equipment which was not conveyed to MainPointe under the MainPointe Agreement. We do not have leasehold improvements nor do we have capitalized leases. Costs of betterments are capitalized while maintenance costs and repair costs are charged to operations as incurred. When a depreciable asset is retired from service, the cost and accumulated depreciation will be removed from the respective accounts.

ACCRUED EXPENSES

3 Months Ended

Mar. 31, 2017

Payables and Accruals [Abstract]

ACCRUED EXPENSES

NOTE 8 - ACCRUED EXPENSES

Accrued expenses at March 31, 2017 and December 31, 2016 are summarized as follows:

	March 31,		December 31,
	2017		2016
	(in thousands)
Cost sharing expenses under license agreement	$	269	$	150
Advanced expense reimbursements under license agreements		209		-
Other fees and services		51		47
Payroll, payroll taxes and benefits		173		116
Professional services		173		232
Clinical, non-clinical and regulatory services		136		131
Marketing, advertising, and promotion		5		10
Property taxes		18		16
Franchise taxes		6		1
Total	$	1,040	$	703

DEBT

3 Months Ended

Mar. 31, 2017

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 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 security for its obligations under the initial Loan Agreement (prior to the Third Amendment), 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 relative 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.

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 raise 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 (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. Under the 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 March 31, 2017 and December 31, 2016, we have accumulated and accrued $598 thousand and $559 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 (including breach of the Unqualified Audit Opinion Covenant), a material adverse change in the Company, bankruptcy and insolvency defaults and material judgment defaults.

Our debt at March 31, 2017 is summarized below (in thousands):

Current Debt	Current		Long-term		Total
Balance at Jan. 1, 2017	$	2,521	$	2,979	$	5,500
Principal payments		(445)		-		(445)
Classification		722		(722)		-
Balance at Mar. 31, 2017	$	2,798	$	2,257	$	5,055

Debt Discount	Current		Long-term		Total
Balance at Jan. 1, 2017	$	-	$	(98)	$	(98)
Amortization expense		-		20		20
Classification		-		-		-
Balance at Mar. 31, 2017	$	-	$	(78)	$	(78)

Deferred Debt Issuance Costs	Current		Long-term		Total
Balance at Jan. 1, 2017	$	-	$	(47)	$	(47)
Amortization expense		-		10		10
Classification		-		-		-
Balance at Mar. 31, 2017	$	-	$	(37)	$	(37)

Current Debt, net at Mar 31, 2017	$	2,798	$	2,142	$	4,940

Our interest expense for the three months ended March 31, 2017 and 2016 consisted of the following:

	March 31,		March 31,
	2017		2016
	(in thousands)
Term Loan	$	148	$	209
Debt discount		20		26
Debt issue costs		10		14
Total interest expense	$	178	$	249

The annual principal payments of the debt outstanding at March 31, 2017 are as follows:

	Annual
	Principal Payments
Year	(in thousands)
2017	$	2,077
2018		2,978
Total	$	5,055

COMMON STOCK WARRANTS

3 Months Ended

Mar. 31, 2017

Stockholders Equity Note [Abstract]

COMMON STOCK WARRANTS

NOTE 10 - COMMON STOCK WARRANTS

At both March 31, 2017 and 2016, 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 to the Lender in connection with the issuance of the $10.0 million secured promissory notes in December 2013. The warrants contain a cashless exercise feature.

- Definition

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

+ References

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+ Details

SHARE-BASED COMPENSATION

3 Months Ended

Mar. 31, 2017

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

SHARE-BASED COMPENSATION

NOTE 11 - SHARE-BASED COMPENSATION

Share-based Compensation

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

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

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

	Three Months Ended March 31,
	2017		2016
Research and development expense:
Stock options	$	34	$	43
Restricted stock units		-		-
Subtotal	$	34	$	43

General and administrative expense:
Stock options		53		77
Restricted stock units		30		30
Subtotal	$	83	$	107
Total	$	117	$	150

Stock Option Award Plans

We maintain various stock option plans. A summary of our stock option plan activity during the three month periods ending March 31, 2017 and 2016 is shown below:

	Three Months Ended March 31,
	2017				2016
	Number of Options (000’s)		Weighted Average Exercise Price		Number of Options (000’s)		Weighted Average Exercise Price
Outstanding, Jan. 1		1,397	$	13.57		1,198	$	15.67
Granted		-		-				--
Exercised		(1)		(0.92)				--
Forfeited or expired		-		-				--
Outstanding, Mar. 31		1,396	$	13.58		1,198	$	15.67
Options exercisable		1,125	$	16.52		876	$	20.64

The following table summarizes information about nonvested stock options outstanding at March 31, 2017 (in thousands except price data):

	Number of Options Not Exercisable		Weighted Average Fair Value

Outstanding, Jan. 1, 2017		335	$	1.18
Granted		-		-
Vested		(64)		1.36
Forfeited		-		-
Outstanding, Mar. 31, 2017		271	$	1.14

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 stock option grant were:

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

The intrinsic value of the option awards which were vested and outstanding at March 31, 2017 and 2016 was $0 thousand and $70 thousand, respectively. The total remaining unrecognized compensation cost on unvested option awards outstanding at March 31, 2017 was $309 thousand, and is expected to be recognized in operating expense in varying amounts over the 20 months remaining in the requisite service period.

Restricted Stock Unit Award Plan

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

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

	Three months Ended March 31,
	2017				2016

	(in thousands)
	Number of RSUs		Number of Vested RSUs		Number of RSUs		Number of Vested RSUs
Outstanding, Jan. 1		91		91		45
Granted		238		-		88		-
Distributed		(67)		(67)		(42)		(42)
Vested		-		59		-		22
Forfeited or expired		-		-		-		-
Outstanding, Mar. 31		262		83		91		25

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 March 31, 2017, three thousand shares are available for award under the 2014 RSU Plan.

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

⋅

On January 2, 2015, we awarded approximately 10 thousand RSUs to each of our four 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. 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, 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 and the liability recorded in the Company’s balance sheet as an estimate for such cash settlement was $19 thousand at March 31, 2017. 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 4, 2016, 1 thousand RSUs from the May 1, 2014 award and 41 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

3 Months Ended

Mar. 31, 2017

Income Tax Disclosure [Abstract]

INCOME TAXES

NOTE 12 – INCOME TAXES

We account for income taxes under the liability method. Under this method, deferred income tax assets and liabilities are determined based on differences between financial reporting and income tax basis of assets and liabilities and are accounted for using the enacted income tax rates and laws that will be in effect when the differences are expected to reverse. Additionally, net operating loss and tax credit carryforwards are reported as deferred income tax assets. The realization of deferred income tax assets is dependent upon future earnings. A valuation allowance is required against deferred income tax assets if, based on the weight of available evidence, it is more likely than not that some or all of the deferred income tax assets may not be realized. At both March 31, 2017 and December 31, 2016, all our remaining net deferred income tax assets were offset by a valuation allowance due to uncertainties with respect to future utilization of net operating loss (“NOL”) carryforwards. If in the future it is determined that additional amounts of our deferred income tax assets would likely be realized, the valuation allowance would be reduced in the period in which such determination is made and an additional benefit from income taxes in such period would be recognized. We have approximately $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, available to offset future taxable income, some of which already have limitations for future use as prescribed under IRC Section 382. Our Federal and State NOLs will expire in varying amounts between 2017 and 2036 if not used, and those expirations will cause fluctuations in our valuation allowances. 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.

EARNINGS PER SHARE ("EPS")

3 Months Ended

Mar. 31, 2017

Earnings Per Share [Abstract]

EARNINGS PER SHARE ("EPS")

NOTE 13 – 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 11). 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 as the Company reported a net loss for the three month period, and including the effects of the common stock equivalents in the diluted EPS calculations would have been antidilutive. The weighted-average common shares outstanding (diluted) computation is not impacted during any period where the exercise price of a stock option is greater than the average market price.

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

	Three months Ended March 31,
	2017		2016
	(in thousands except per share data)
EPS - basic
Numerator: net income (loss)	$	405	$	(3,384)
Denominator:
Common shares		11,881		11,832
Vested RSUs		26		5
Basic weighted average shares outstanding		11,907		11,837
EPS - basic	$	0.03	$	(0.28)

EPS – assuming dilution
Numerator: net income (loss)	$	405	$	(3,384)
Denominator:
Common shares		11,881		11,832
RSUs		202		5
Stock options		-		-
Common stock warrants		-		-
Diluted weighted average shares outstanding		12,083		11,837
EPS - diluted	$	0.03	$	(0.28)

Excluded securities:
Common stock issuable:
Stock options		1,396		1,198
Common stock warrants		60		60
RSUs		-		66
Total excluded potentially dilutive shares		1,456		1,324

COMMITMENTS AND CONTINGENCIES

3 Months Ended

Mar. 31, 2017

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 there 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 March 31, 2017 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 March 31, 2017 and December 31, 2016, we have accrued approximately $269 thousand and $150 thousand, respectively, of these cost sharing expenses under the Egalet Agreement.

Facility Lease

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

INVENTORIES (Tables)

3 Months Ended

Mar. 31, 2017

Inventory Disclosure [Abstract]

Inventories

Inventories at December 31, 2016 are summarized as follows:

	December 31,
	2016
	(in thousands)
Raw and packaging materials	$	98
Finished goods		243
Total		341
Less: reserve for finished goods		(32)
Net inventories	$	309

PROPERTY, PLANT AND EQUIPMENT (Tables)

3 Months Ended

Mar. 31, 2017

Property, Plant and Equipment [Abstract]

Property Plant and Equipment

Property, plant and equipment at March 31, 2017 and December 31, 2016 are summarized as follows:

	March 31,		December 31,
	2017		2016
	(in thousands)
Building and improvements	$	1,273	$	1,273
Scientific equipment		598		598
Computer hardware and software		109		109
Machinery and equipment		415		568
Land and improvements		162		162
Other personal property		70		70
Office equipment		27		27
Total		2,654		2,807
Less: impairment reserve		(82)		(82)
Less: accumulated depreciation		(1,833)		(1,858)
Net property, plant and equipment	$	739	$	867

DEBT (Tables)

3 Months Ended

Mar. 31, 2017

Debt Disclosure [Abstract]

Schedule of Debt

Our debt at March 31, 2017 is summarized below (in thousands):

Current Debt	Current		Long-term		Total
Balance at Jan. 1, 2017	$	2,521	$	2,979	$	5,500
Principal payments		(445)		-		(445)
Classification		722		(722)		-
Balance at Mar. 31, 2017	$	2,798	$	2,257	$	5,055

Debt Discount	Current		Long-term		Total
Balance at Jan. 1, 2017	$	-	$	(98)	$	(98)
Amortization expense		-		20		20
Classification		-		-		-
Balance at Mar. 31, 2017	$	-	$	(78)	$	(78)

Deferred Debt Issuance Costs	Current		Long-term		Total
Balance at Jan. 1, 2017	$	-	$	(47)	$	(47)
Amortization expense		-		10		10
Classification		-		-		-
Balance at Mar. 31, 2017	$	-	$	(37)	$	(37)

Current Debt, net at Mar 31, 2017	$	2,798	$	2,142	$	4,940

Schedule of Interest Expense

Our interest expense for the three months ended March 31, 2017 and 2016 consisted of the following:

	March 31,		March 31,
	2017		2016
	(in thousands)
Term Loan	$	148	$	209
Debt discount		20		26
Debt issue costs		10		14
Total interest expense	$	178	$	249

Schedule Of Long Term Debt Future Principal Payments Year

The annual principal payments of the debt outstanding at March 31, 2017 are as follows:

	Annual
	Principal Payments
Year	(in thousands)
2017	$	2,077
2018		2,978
Total	$	5,055

SHARE-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2017

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

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

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

	Three Months Ended March 31,
	2017		2016
Research and development expense:
Stock options	$	34	$	43
Restricted stock units		-		-
Subtotal	$	34	$	43

General and administrative expense:
Stock options		53		77
Restricted stock units		30		30
Subtotal	$	83	$	107
Total	$	117	$	150

Schedule of Share-based Compensation, Stock Options, Activity

A summary of our stock option plan activity during the three month periods ending March 31, 2017 and 2016 is shown below:

	Three Months Ended March 31,
	2017				2016
	Number of Options (000’s)		Weighted Average Exercise Price		Number of Options (000’s)		Weighted Average Exercise Price
Outstanding, Jan. 1		1,397	$	13.57		1,198	$	15.67
Granted		-		-				--
Exercised		(1)		(0.92)				--
Forfeited or expired		-		-				--
Outstanding, Mar. 31		1,396	$	13.58		1,198	$	15.67
Options exercisable		1,125	$	16.52		876	$	20.64

Schedule of Nonvested Share Activity

The following table summarizes information about nonvested stock options outstanding at March 31, 2017 (in thousands except price data):

	Number of Options Not Exercisable		Weighted Average Fair Value

Outstanding, Jan. 1, 2017		335	$	1.18
Granted		-		-
Vested		(64)		1.36
Forfeited		-		-
Outstanding, Mar. 31, 2017		271	$	1.14

Schedule of fair value of the warrants

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

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

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

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

	Three months Ended March 31,
	2017				2016

	(in thousands)
	Number of RSUs		Number of Vested RSUs		Number of RSUs		Number of Vested RSUs
Outstanding, Jan. 1		91		91		45
Granted		238		-		88		-
Distributed		(67)		(67)		(42)		(42)
Vested		-		59		-		22
Forfeited or expired		-		-		-		-
Outstanding, Mar. 31		262		83		91		25

EARNINGS PER SHARE ("EPS") (Tables)

3 Months Ended

Mar. 31, 2017

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

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

	Three months Ended March 31,
	2017		2016
	(in thousands except per share data)
EPS - basic
Numerator: net income (loss)	$	405	$	(3,384)
Denominator:
Common shares		11,881		11,832
Vested RSUs		26		5
Basic weighted average shares outstanding		11,907		11,837
EPS - basic	$	0.03	$	(0.28)

EPS – assuming dilution
Numerator: net income (loss)	$	405	$	(3,384)
Denominator:
Common shares		11,881		11,832
RSUs		202		5
Stock options		-		-
Common stock warrants		-		-
Diluted weighted average shares outstanding		12,083		11,837
EPS - diluted	$	0.03	$	(0.28)

Excluded securities:
Common stock issuable:
Stock options		1,396		1,198
Common stock warrants		60		60
RSUs		-		66
Total excluded potentially dilutive shares		1,456		1,324

OPERATIONS Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Cash, Cash Equivalent And Marketable Securities	$ 3,800
Working Capital Deficit	200
Retained Earnings (Accumulated Deficit), Total	(374,293)		$ (374,698)
Operating Income (Loss), Total	582	$ (3,138)
Net Income (Loss) Attributable to Parent, Total	405	$ (3,384)
Debt Instrument, Debt Default, Amount	2,500
Oxford Term Loan Agreement [Member]
Debt Instrument, Debt Default, Amount	$ 2,500

LICENSE, DEVELOPMENT, AND COMMERCIALIZATION AGREEMENTS - Additional Information (Detail) - USD ($) $ in Thousands		1 Months Ended		3 Months Ended
	Oct. 09, 2015	Mar. 16, 2017	Oct. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
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 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.
Amortization of Intangible Assets				$ 52	$ 52
License Agreement Option Products Description		In addition, MainPointe has the option to add to the MainPointe Agreement certain additional products, or Option Products, containing pseudoephedrine (“PSE”) and utilizing the Impede technology for a fee of $500 thousand 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 thousand per product. If the territory is expanded after the payment of the $500 thousand product option fee, a one-time $250 thousand 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
Finite-Lived Intangible Asset, Useful Life				9 years 8 months 12 days
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months				$ 207
Finite-Lived Intangible Assets, Amortization Expense, Year Two				207
Finite-Lived Intangible Assets, Amortization Expense, Year Three				207
Finite-Lived Intangible Assets, Amortization Expense, Year Four				$ 207
Egalet Agreement
License Development and Commercialization Agreement [Line Items]
Minimum Net Sales Reaching Description				one-time $12.5 million milestone payment when worldwide Oxaydo net sales reach $150 million in a calendar year.
Licenses Revenue	$ 5,000
Proceeds from Milestone Payment On Agreement	$ 2,500
Main Pointe Agreement [Member]
License Development and Commercialization Agreement [Line Items]
Proceeds from License Fees Received		$ 2,500		$ 2,500
Asset Transferred, License Agreement		$ 309
Licensing Agreement, Royalty Percentage		7.50%		7.50%
Main Pointe Agreement [Member] \| Nexafed inventory [Member]
License Development and Commercialization Agreement [Line Items]
Proceeds from License Fees Received		$ 117
Main Pointe Agreement [Member] \| UNITED KINGDOM
License Development and Commercialization Agreement [Line Items]
Proceeds from License Fees Received		1,000
Main Pointe Agreement [Member] \| JAPAN
License Development and Commercialization Agreement [Line Items]
Proceeds from License Fees Received		500
Main Pointe Agreement [Member] \| South Korea [Member]
License Development and Commercialization Agreement [Line Items]
Proceeds from License Fees Received		$ 250
Kempharm Agreement [Member]
License Development and Commercialization Agreement [Line Items]
Proceeds from License Fees Received			$ 3,500
Kempharm Agreement [Member] \| Minimum
License Development and Commercialization Agreement [Line Items]
Additional Upfront Payment Receivable			$ 1,000

REVENUE RECOGNITION - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Mar. 16, 2017	Mar. 31, 2017	Mar. 31, 2016
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Other Revenue, Net		$ 36	$ 100
Royalty Revenue, Total		74	$ 17
Main Pointe Agreement [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Royalty Revenue, Total		2
Proceeds from License Fees Received	$ 2,500	$ 2,500
Licensing Agreement, Royalty Percentage	7.50%	7.50%

RESEARCH AND DEVELOPMENT ACTIVITIES - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and Development Arrangement, Contract to Perform for Others, Costs Incurred, Gross	$ 50	$ 50
Professional and Contract Services Expense	$ 100

INVENTORIES - Schedule of Inventories (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Inventory [Line Items]
Raw and packaging materials		$ 98
Finished goods		243
Total		341
Less: reserve for finished goods	$ 0	(32)
Net inventories	$ 0	$ 309

PROPERTY, PLANT AND EQUIPMENT (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 2,654	$ 2,807
Less: impairment reserve	(82)	(82)
Less: accumulated depreciation	(1,833)	(1,858)
Net property, plant and equipment	739	867
Building and improvements
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	1,273	1,273
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	109
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	415	568
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	Mar. 31, 2017	Dec. 31, 2016
Accounts Payable and Accrued Liabilities [Line Items]
Cost sharing expenses under license agreement	$ 269	$ 150
Advanced expense reimbursements under license agreements	209	0
Other fees and services	51	47
Payroll, payroll taxes and benefits	173	116
Professional services	173	232
Clinical, non-clinical and regulatory services	136	131
Marketing, advertising, and promotion	5	10
Property taxes	18	16
Franchise taxes	6	1
Total	$ 1,040	$ 703

DEBT - Summary of Debt (Detail) $ in Thousands	3 Months Ended
DEBT - Summary of Debt (Detail) $ in Thousands	Mar. 31, 2017 USD ($)
Current Debt
Balance at Jan. 1, 2017	$ 5,500
Principal payments	(445)
Classification	0
Balance at Mar. 31, 2017	5,055
Debt Discount
Balance at Jan. 1, 2017	(98)
Amortization expense	20
Classification	0
Balance at Mar. 31, 2017	(78)
Deferred Debt Issuance Costs
Balance at Jan. 1, 2017	(47)
Amortization expense	10
Classification	0
Balance at Mar. 31, 2017	(37)
Current Debt, net at Mar 31, 2017	4,940
Long-term [Member]
Current Debt
Balance at Jan. 1, 2017	2,979
Principal payments	0
Classification	(722)
Balance at Mar. 31, 2017	2,257
Debt Discount
Balance at Jan. 1, 2017	(98)
Amortization expense	20
Classification	0
Balance at Mar. 31, 2017	(78)
Deferred Debt Issuance Costs
Balance at Jan. 1, 2017	(47)
Amortization expense	10
Classification	0
Balance at Mar. 31, 2017	(37)
Current Debt, net at Mar 31, 2017	2,142
Current [Member]
Current Debt
Balance at Jan. 1, 2017	2,521
Principal payments	(445)
Classification	722
Balance at Mar. 31, 2017	2,798
Debt Discount
Balance at Jan. 1, 2017	0
Amortization expense	0
Classification	0
Balance at Mar. 31, 2017	0
Deferred Debt Issuance Costs
Balance at Jan. 1, 2017	0
Amortization expense	0
Classification	0
Balance at Mar. 31, 2017	0
Current Debt, net at Mar 31, 2017	$ 2,798

DEBT - Interest Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
DEBT - Interest Expense (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Mar. 31, 2016
Schedule Of Interest Expense [Line Items]
Term Loan	$ 148	$ 209
Debt discount	20	26
Debt issue costs	10	14
Total interest expense	$ 178	$ 249

DEBT - Long-Term Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
2017	$ 2,077
2018	2,978
Total	$ 5,055	$ 5,500

DEBT - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		1 Months Ended	3 Months Ended
	Jan. 07, 2015	Oct. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Dec. 31, 2013	Dec. 27, 2013
Debt Instrument [Line Items]
Debt instrument principal amount							$ 10,000
Debt default long term debt percentage							13.35%
Debt Instrument, Maturity Date			Dec. 01, 2018
Debt instrument, fee amount			$ 50
Debt consulting placement fee			100
Debt related commitment fees and debt issuance costs			10	$ 14
Debt instrument unamortized discount			78		$ 98
Debt instrument Cash Maintenance	$ 2,500
Repayments of Debt			445	$ 409
Debt Instrument, Periodic Payment			$ 260
Debt Instrument, Interest Rate, Effective Percentage			10.16%
Proceeds from Issuance or Sale of Equity		$ 6,000
Interest Payable, Current			$ 35		0
Term Loan [Member]
Debt Instrument [Line Items]
Debt related commitment fees and debt issuance costs			231
Interest Payable, Current			598		$ 559
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	60
Class of Warrant or Right, Exercise Price of Warrants or Rights			$ 7.98	$ 2.52		$ 2.52
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%

COMMON STOCK WARRANTS - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2013
Class of Warrant or Right [Line Items]
Secured Debt			$ 10.0
Warrant
Class of Warrant or Right [Line Items]
Common stock warrant exercisable outstanding, shares	60	60
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 7.98	$ 2.52	$ 2.52

SHARE-BASED COMPENSATION -Recognition of Share-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Research and development expense	$ 711	$ 1,014
Total	117	150
Research and Development Expense [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Research and development expense	34	43
Research and Development Expense [Member] \| Stock options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Research and development expense	34	43
Research and Development Expense [Member] \| Restricted Stock units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Research and development expense	0	0
General and Administrative Expense [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
General and administrative expense	83	107
General and Administrative Expense [Member] \| Stock options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
General and administrative expense	53	77
General and Administrative Expense [Member] \| Restricted Stock units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
General and administrative expense	$ 30	$ 30

SHARE-BASED COMPENSATION - Stock Option Award Activity (Detail) - Stock Option Plan [Member] - $ / shares shares in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options Outstanding, beginning	1,397	1,198
Number of Options, Granted	0
Number of Options, Exercised	(1)
Number of Options, Forfeited or expired	0
Number of Options Outstanding, ending	1,396	1,198
Number of Options exercisable	1,125	876
Weighted Average Exercise Price, beginning	$ 13.57	$ 15.67
Weighted Average Exercise Price, Granted	0	0
Weighted Average Exercise Price, Exercised	(0.92)	0
Weighted Average Exercise Price, Forfeited or expired	0	0
Weighted Average Exercise Price, ending	13.58	15.67
Weighted Average Exercise Price, Options exercisable	$ 16.52	$ 20.64

SHARE-BASED COMPENSATION - Summary of Information about Non Vested Stock Options (Detail) shares in Thousands	3 Months Ended
	Mar. 31, 2017 $ / shares shares
Summary Of Information About Non Vested Stock Options Disclosure [Line Items]
Outstanding, beginning \| shares	335
Granted \| shares	0
Vested \| shares	(64)
Forfeited \| shares	0
Outstanding, ending \| shares	271
Outstanding beginning, Weighted Average Fair Value \| $ / shares	$ 1.18
Granted, Weighted Average Fair Value \| $ / shares	0
Vested, Weighted Average Fair Value \| $ / shares	1.36
Forfeited, Weighted Average Fair Value \| $ / shares	0
Outstanding ending, Weighted Average Fair Value \| $ / shares	$ 1.14

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

SHARE-BASED COMPENSATION - Summary of RSU Plan (Detail) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, beginning	335
Granted	0
Vested	64
Forfeited or expired	0
Outstanding, ending	271
Restricted Stock Units [Member]
Share based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, beginning	91	45
Granted	238	88
Distributed	(67)	(42)
Vested	0	0
Forfeited or expired	0	0
Outstanding, ending	262	91
Vested Restricted Stock Units (RSUs) [Member]
Share based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, beginning	91	0
Granted	0	0
Distributed	(67)	(42)
Vested	59	22
Forfeited or expired	0	0
Outstanding, ending	83	25

SHARE-BASED COMPENSATION - Additional Information (Detail) - USD ($) shares in Thousands, $ in Thousands		1 Months Ended		3 Months Ended	8 Months Ended
	Jan. 03, 2017	Jan. 04, 2016	May 01, 2014	Mar. 31, 2017	Jan. 02, 2015	Dec. 31, 2016	Mar. 31, 2016
Employee Benefit Plans Disclosure [Line Items]
Aggregate intrinsic value of the option awards vested				$ 0			$ 70
Unrecognized compensation cost on unvested option awards outstanding				$ 309
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	1
Share Based Compensation Arrangement Share Based Payment Shares Reserved For Future Distribution	66	41	1
Share-based Compensation Arrangement by Share-based Payment Award, Shares Purchased for Award				3
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	18	9
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	67	42
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	49	33
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	60	22			10
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	25.00%	25.00%			25.00%
Share-based Compensation Arrangement by Share-based Payment Award, Description	stock, for up to 40%	stock, for up to 40%			stock, for up to 40%
Share Based Compensation Arrangement Share Based Payment Shares Reserved For Future Distribution		2
Deferred Compensation Arrangement with Individual, Recorded Liability	$ 19					$ 27

INCOME TAXES - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2016 USD ($)
Income Tax Disclosure [Line Items]
Federal income tax benefits	$ 47.2
Federal NOLs	$ 138.8
U.S. statutory tax rate	34.00%
State income tax benefits	$ 2.1
Federal Research and Development
Income Tax Disclosure [Line Items]
Research and development tax credits	1.2
Indiana State Research and Development
Income Tax Disclosure [Line Items]
Research and development tax credits	$ 0.2
Maximum
Income Tax Disclosure [Line Items]
NOL expiration year	2036
Minimum
Income Tax Disclosure [Line Items]
NOL expiration year	2017

EARNINGS PER SHARE ("EPS") - Reconciliation of Numerators and Denominators of Basic and Diluted EPS (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
EPS - basic
Numerator: net income (loss)	$ 405	$ (3,384)
Denominator:
Common shares	11,881	11,832
Vested RSUs	26	5
Basic weighted average shares outstanding	11,907	11,837
EPS - basic	$ 0.03	$ (0.28)
EPS - assuming dilution
Numerator: net income (loss)	$ 405	$ (3,384)
Denominator:
Common shares	11,881	11,832
RSUs	202	5
Stock options	0	0
Common stock warrants	0	0
Diluted weighted average shares outstanding	12,083	11,837
EPS - diluted	$ 0.03	$ (0.28)
Common stock issuable:
Total excluded potentially dilutive shares	1,456	1,324
Employee Stock Option [Member]
Common stock issuable:
Total excluded potentially dilutive shares	1,396	1,198
Warrant [Member]
Common stock issuable:
Total excluded potentially dilutive shares	60	60
Restricted Stock Units (RSUs) [Member]
Common stock issuable:
Total excluded potentially dilutive shares	0	66

COMMITMENTS AND CONTINGENCIES - Additional Information (Detail) $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	Jun. 30, 2015 USD ($)	Mar. 31, 2017 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2016 USD ($)
Commitments and Contingencies Disclosure [Line Items]
Accrued Cost Sharing Expenses Clinical Studies		$ 269		$ 150
Purdue Pharma [Member]
Commitments and Contingencies Disclosure [Line Items]
Litigation Settlement, Expense	$ 250		$ 500
Pennsylvania State
Commitments and Contingencies Disclosure [Line Items]
Number of lawsuits filed		200
New Jersey State
Commitments and Contingencies Disclosure [Line Items]
Number of lawsuits filed		150
Number of lawsuits served		50
California State
Commitments and Contingencies Disclosure [Line Items]
Number of plaintiffs served in a single complaint		445
Palatine Illinois
Commitments and Contingencies Disclosure [Line Items]
Leases administrative office space		$ 25
Lease expiring date		March 31, 2017

PROPERTY, PLANT AND EQUIPMENT - Additional Information (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Impairment Of Property, Plant and Equipment, Reserve	$ (82)	$ (82)