Document And Entity Information - shares	6 Months Ended
Document And Entity Information - shares	Jun. 30, 2017	Aug. 11, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q2
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		20,795,994

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Assets:
Cash and cash equivalents	$ 1,079	$ 2,681
Restricted cash equivalents (Note 9)	2,500	2,500
Trade accounts receivable (net of allowances of $- and $7)	0	23
Collaboration revenue receivable	1	79
Royalty receivable	50	50
Inventories (net of allowances of $- and $32) (Note 6)	0	309
Prepaid expenses and other current assets	562	268
Total current assets	4,192	5,910
Property, plant and equipment, net (Note 7)	720	867
Intangible asset, net of accumulated amortization of $672 and $569 (Note 3)	1,328	1,431
Total assets	6,240	8,208
Liabilities:
Accounts payable	582	77
Accrued expenses (Note 8)	691	703
Accrued interest	30	0
Other current liabilities	32	27
Sales returns liability	302	304
Debt - current (Note 9)	2,858	2,376
Total current liabilities	4,495	3,487
Debt - non-current portion, net of discounts (Note 9)	1,431	2,979
Accrued interest - non-current portion (Note 9)	634	559
Total liabilities	6,560	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 June 30, 2017 and December 31, 2016, respectively	119	118
Additional paid-in capital	376,003	375,763
Accumulated deficit	(376,442)	(374,698)
Total stockholders’ (deficit) equity	(320)	1,183
Total liabilities and stockholders’ (deficit) equity	$ 6,240	$ 8,208

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Accounts receivable, net of allowances	$ 0	$ 7
Inventory Valuation Reserves	0	32
Finite-lived intangible assets accumulated amortization	$ 672	$ 569
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000	100,000
Common stock, shares issued	11,883	11,834
Common stock, shares outstanding	11,883	11,834

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenues:
License fee revenue	$ 0	$ 0	$ 2,500	$ 0
Collaboration revenue	23	133	59	233
Royalty revenue	69	30	143	47
Product sales, net	0	94	107	201
Total revenues, net	92	257	2,809	481
Cost and expenses:
Cost of sales (excluding inventory provisions)	0	99	128	201
Inventory provisions	0	26	0	26
Research and development	1,020	1,403	1,731	2,417
Selling, marketing, general and administrative	1,063	1,808	2,359	4,054
Total costs and expenses	2,083	3,336	4,218	6,698
Operating loss	(1,991)	(3,079)	(1,409)	(6,217)
Non-operating income (expense):
Investment income	1	21	2	48
Interest expense (Note 9)	(159)	(233)	(337)	(482)
Other income (expense)	0	3	0	(21)
Total other expense, net	(158)	(209)	(335)	(455)
Loss before provision for income taxes	(2,149)	(3,288)	(1,744)	(6,672)
Provision for income taxes	0	0	0	0
Net loss	(2,149)	(3,288)	(1,744)	(6,672)
Other comprehensive income:
Unrealized gains on securities	0	21	0	91
Comprehensive loss	$ (2,149)	$ (3,267)	$ (1,744)	$ (6,581)
Loss per share:
Basic	$ (0.18)	$ (0.28)	$ (0.15)	$ (0.56)
Diluted	$ (0.18)	$ (0.28)	$ (0.15)	$ (0.56)
Weighted average shares outstanding:
Basic	11,966	11,858	11,938	11,847
Diluted	11,966	11,858	11,938	11,847

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) - 6 months ended Jun. 30, 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 loss	(1,744)	$ 0	0	(1,744)
Share-based compensation	233	0	233	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 Jun. 30, 2017	$ (320)	$ 119	$ 376,003	$ (376,442)
Balance (in shares) at Jun. 30, 2017		11,883

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash Flows from Operating Activities:
Net loss	$ (1,744)	$ (6,672)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation	47	67
Provision to reduce inventory to net realizable value	0	26
Provision for sales returns	49	58
Share-based compensation	233	300
Amortization of debt discount and deferred debt issue costs	56	78
Amortization of bond premium in marketable securities	0	29
Amortization of intangible asset	103	103
Gain on disposal of machinery and equipment	(3)	0
Loss on sales of marketable securities	0	21
Change in assets and liabilities:
Trade accounts receivable	23	(128)
Collaboration revenue receivable	78	0
Accrued investment income	0	24
Inventories	103	68
Prepaid expenses and other current assets	(294)	(74)
Other assets	0	175
Accounts payable	505	54
Accrued expenses	(12)	240
Accrued interest	105	139
Other current liabilities	11	7
Sales returns liability	(49)	0
Net cash used in operating activities	(789)	(5,485)
Cash Flows from Investing Activities:
Proceeds from sales and maturities of marketable securities	0	7,362
Proceeds from transfer of equipment to licensee	103	0
Proceeds from transfer of inventory to licensee	206	0
Capital expenditures	0	(63)
Net cash provided by investing activities	309	7,299
Cash Flows from Financing Activities:
Principal payments on debt	(1,122)	(1,034)
Net cash used in financing activities	(1,122)	(1,034)
Net (decrease) increase in cash, cash equivalents, and restricted cash	(1,602)	780
Cash, cash equivalents, and restricted cash at beginning of period	5,181	2,485
Cash, cash equivalents, and restricted cash at end of period	3,579	3,265
Cash paid during the year for:
Interest	176	265
Income taxes	0	0
Reconciliation of cash, cash equivalents, and restricted cash [Abstract]
Cash and cash equivalents	1,079	765
Restricted cash equivalents	2,500	2,500
Total cash, cash equivalents and restricted cash show in the consolidated statements of cash flows	$ 5,181	$ 2,485

OPERATIONS

6 Months Ended

Jun. 30, 2017

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

OPERATIONS

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.

⋅

Our Limitx Technology, is designed to retard the release of active drug ingredients when too many tablets are accidently or purposefully ingested. We have completed two clinical studies of our lead Limitx immediate release oral abuse deterrent drug candidate using the opioid hydromorphone HCI (LTX-04). Each of Study AP-LTX-400 or Study 400, and AP-LTX-401, or Study 401, was a two cohort, open label, crossover design pharmacokinetic study in healthy adult subjects. In our initial analysis of Study 400 we concluded that we had (a) identified the appropriate buffer level for the technology, (b) demonstrated the maximum plasma level of the opioid active ingredient, or Cmax, was reduced by an average of approximately 22% when multiple tablets were ingested and (c) a reformulation of the drug containing micro-particles would be required to achieve sufficient levels of drug in the blood stream with a single tablet dose. Study 401 utilized a modified formulation of our Limitx technology with a much faster releasing micro-particle. Since the Cmax in Study 401 at one tablet was essentially unchanged from the results from Study 400, we have subsequently concluded that our formulation contains too much buffering ingredient. This is evidenced in Study 401’s Cmax reduction of up to 65% following ingestion of multiple tablets compared to currently marketed products and our re-assessed conclusion of Study 400 indicating a 57% reduction in Cmax with multiple tablets. Because, we believe, Study 401 used too much buffer for even a single tablet, Study 401 achieved insufficient blood levels of the opioid active ingredient with a single tablet. The Company is developing plans for a buffer dose ranging study to guide the reformulation of the tablet buffers to increase the single dose Cmax, while retaining a reduction in Cmax in multiple Limitx tablets. The Company has also changed its development focus from LTX-04, an immediate-release hydromorphone product, to LTX-03, an immediate-release hydrocodone bitartrate product, which is more likely to be abused by excess oral consumption. 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.

⋅

Our Aversion Technology incorporates gelling ingredients and irritants into tablets to discourage abuse by snorting and provide barriers to abuse by injection. Aversion is used in Oxaydo® Tablets (oxycodone HCl, CII), and is the first 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 3).

⋅

Our Impede Technology is a proprietary mixture of inactive ingredients that prevents the extraction of pseudoephedrine, or PSE, from tablets using known extraction methods and disrupts the direct conversion of PSE from tablets into methamphetamine. Impede is used in Nexafed® Tablets (30mg pseudoephedrine) and Nexafed® Sinus Pressure + Pain Tablets (30/325mg pseudoephedrine and acetaminophen), and those Nexafed products were launched by us into the United States market in December 2012 and February 2015, respectively. We have multiple PSE products in development utilizing our Impede Technology. 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 3).

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 June 30, 2017, we had unrestricted cash and cash equivalents of $1.1 million (after giving effect to our $2.5 million cash reserve requirement in effect at June 30, 2017 under our term loan with Oxford), working capital deficit of $2.8 million and an accumulated deficit of $376.4 million. We had loss from operations of $1.4 million and a net loss of $1.7 million for the six months ended June 30, 2017. Historically, we have suffered annual losses from operations and have not generated or have generated limited annual positive cash flows from operations. After giving effect to the net proceeds of $3.9 million from our equity financing completed in July 2017, our $2.5 million cash reserve requirement under our term loan with Oxford Finance has been removed as discussed in Item 2, under the caption “Recent Events”, however our current unrestricted cash and cash equivalents is expected to only be sufficient to fund the development of our products and our related operating expenses into April 2018.

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 April 2018, 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 Agreement. 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

6 Months Ended

Jun. 30, 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 Payments

In March 2016, the FASB issued 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.

Statement of Cash Flows

In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, which clarifies existing guidance on how companies present and classify certain cash receipts and cash payments in the statement of cash flows by addressing specific cash flow issues in an effort to reduce diversity in practice, including guidance on debt prepayment or extinguishment costs and contingent consideration payments made after a business combination. This update is effective for annual reporting periods beginning after December 15, 2017, with early adoption 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.

Intra-Entity Transfers of Assets Other than Inventory

In October 2016, the FASB issued 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 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.

Other Income

In February 2017, the FASB issued ASU No. 2017-05, Other Income—Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets. The amendments in this ASU address the recognition of gains and losses on the transfer (i.e., sale) of nonfinancial (and in substance nonfinancial) assets to counterparties other than customers. The ASU conforms the derecognition guidance on nonfinancial assets with the model for transactions in the new revenue standard ASU 2014-09, as amended. The amendments are effective at the same time as the new revenue standard.

Compensation – Stock Compensation

In May 2017, the FASB issued ASU No. 2017-09, Compensation - Stock Compensation (ASC 718) - Scope of Modification Accounting. The amendments provide guidance as to how an entity should apply modified accounting in Topic 718 when changing the terms and conditions of its share-based payment awards. The guidance clarifies that modification accounting will be applied if the value, vesting conditions or classification of the award changes. The ASU is effective for annual reporting periods, including interim periods within those annual periods, beginning after December 15, 2017 but early adoption is permitted. The Company has not adopted the standard and does not anticipate that the standard will have a material effect, if any, on our consolidated financial statements and related disclosures.

LICENSE, DEVELOPMENT, AND COMMERCIALIZATION AGREEMENTS

6 Months Ended

Jun. 30, 2017

Research and Development Disclosure [Abstract]

LICENSE, DEVELOPMENT, AND COMMERCIALIZATION AGREEMENTS

NOTE 3 – LICENSE, DEVELOPMENT, AND COMMERCIALIZATION AGREEMENTS

MainPointe Agreement covering Nexafed Product Line

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 contract manufacturer completed delivery of such inventory to MainPointe during the second quarter 2017. 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 PSE and utilizing the Impede technology for a fee of $500 thousand per product (for all product strengths). MainPointe’s option rights extend to the product that was subject to the Bayer Agreement, as described below. 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 Covering Certain Opioid Prodrugs

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.

Egalet Agreement covering Oxaydo

In April 2014, we terminated an agreement with Pfizer and the return to us of Aversion Oxycodone (formerly known as Oxecta®) 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 Aversion Oxycodone, which was 9.7 years as of the date the agreement was terminated. During each of the three and six months ended June 30, 2017 and 2016, we recorded amortization expense of $52 thousand in each three month period and $104 thousand in each six month period, respectively. Annual amortization of the patent for years 2017 through 2021 is expected to approximate $208 thousand.

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 Bayer Agreement Covering Methamphetamine Resistant Pseudoephedrine-containing Product

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. On June 28, 2017, we received Bayer’s notice of termination of the Bayer Agreement pursuant to its convenience termination right exercised prior to the Company’s completion of its product development obligations under the Bayer Agreement. We have received reimbursement of certain of our development costs under the Bayer Agreement.

Following Bayer’s termination of the Bayer Agreement the Bayer License Product is now subject to MainPointe’s option rights under the MainPointe Agreement.

REVENUE RECOGNITION

6 Months Ended

Jun. 30, 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 from time to time 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 $59 thousand and $233 thousand of collaboration revenue during the six months ended June 30, 2017 and 2016, respectively.

Royalty Revenue

In connection with our Collaboration and License Agreement with Egalet to commercialize Oxaydo tablets we are receiving 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 $135 thousand and $47 thousand on net sales for the six months ended June 30, 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 are receiving 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 $8 thousand on net sales for the six months ended June 30, 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. 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. The amounts recorded to selling expenses from the shipments of the Nexafed product line during each of the six month periods ended June 30, 2017 and 2016 were not material.

RESEARCH AND DEVELOPMENT ACTIVITIES

6 Months Ended

Jun. 30, 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, formulation work, depreciation, salaries, benefits, and share-based compensation expenses. CRO activity expenses include preclinical laboratory experiments and clinical trial studies. Other activity expenses include regulatory consulting, and regulatory legal counsel. Internal R&D activities and other activity expenses are charged to operations as incurred. We make payments to the CRO's based on agreed upon terms and may include payments in advance of a study starting date. We review and accrue CRO expenses and clinical trial study expenses based on services performed and rely on estimates of those costs applicable to the stage of completion of a study as provided by the CRO. Accrued CRO costs are subject to revisions as such studies progress to completion. Revisions are charged to expense in the period in which the facts that give rise to the revision become known. During 2015, we entered into a cancelable arrangement for contract manufacturing services on a project to integrate Impede 2.0 technology into our commercially available Nexafed 30mg tablet while moving supply to an alternate contract manufacturer. Approximately $50 thousand was remaining under this agreement at December 31, 2016. During the second quarter 2017, this project was completed and our Impede 2.0 technology has been integrated into Nexafed 30mg tablets. Also during the second quarter 2017, we entered into a cancelable arrangement with a CRO for Study 401. At June 30, 2017 the remaining obligations under cancelable CRO arrangements were approximately $0.2 million, for services to be incurred as subjects are enrolled and progress through the studies and the final study reports are completed. We did not have prepaid CRO costs or prepaid clinical trial study expenses at either June 30, 2017 or December 31, 2016.

INVENTORIES

6 Months Ended

Jun. 30, 2017

Inventory Disclosure [Abstract]

INVENTORIES

NOTE 6 – INVENTORIES

We did not have inventories at June 30, 2017 as all our inventories were transferred to MainPointe under the MainPointe Agreement. 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

6 Months Ended

Jun. 30, 2017

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

NOTE 7 – PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment at June 30, 2017 and December 31, 2016 are summarized as follows:

	June 30,		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		275		568
Land and improvements		162		162
Other personal property		70		70
Office equipment		27		27
Total		2,514		2,807
Less: impairment reserve		-		(82)
Less: accumulated depreciation		(1,794)		(1,858)
Net property, plant and equipment	$	720	$	867

The impairment reserve of $82 thousand at December 31, 2016 was for our machinery and other equipment used in the production of our Nexafed product line which was not conveyed to MainPointe under the MainPointe Agreement. During 2017, we applied the reserve against the disposal of these assets. 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

6 Months Ended

Jun. 30, 2017

Payables and Accruals [Abstract]

ACCRUED EXPENSES

NOTE 8 - ACCRUED EXPENSES

Accrued expenses at June 30, 2017 and December 31, 2016 are summarized as follows:

	June 30,		December 31,
	2017		2016
	(in thousands)
Cost sharing expenses under license agreement	$	217	$	150
Other fees and services		56		47
Payroll, payroll taxes and benefits		74		116
Professional services		181		232
Clinical, non-clinical and regulatory services		133		131
Marketing, advertising, and promotion		-		10
Property taxes		13		16
Franchise taxes		17		1
Total	$	691	$	703

DEBT

6 Months Ended

Jun. 30, 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, which the Company was prohibited from pledging 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 was 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 July 24, 2017, the Company completed a private placement of its equity units to an investor, each unit consisting of one share of common stock and a warrant to purchase one-fifth of a share of common stock. The net proceeds to the Company from the private offering was approximately $3.9 million. Giving effect to the $2.5 million upfront payment received from MainPointe pursuant to the MainPointe Agreement and the $3.9 million in net proceeds from the July 2017 private offering, the Company has satisfied the condition in the Second Amendment to the Oxford Loan Agreement to waive the $2.5 million cash reserve requirement.

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 June 30, 2017 and December 31, 2016, we have accumulated and accrued $634 thousand and $559 thousand, respectively, of this 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 June 30, 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		(1,122)		-		(1,122)
Classification		1,459		(1,459)		-
Balance at Jun. 30, 2017	$	2,858	$	1,520	$	4,378

Debt Discount	Current		Long-term		Total
Balance at Jan. 1, 2017	$	-	$	(98)	$	(98)
Amortization expense		-		37		37
Classification		-		-		-
Balance at Jun. 30, 2017	$	-	$	(61)	$	(61)

Deferred Debt Issuance Costs	Current		Long-term		Total
Balance at Jan. 1, 2017	$	-	$	(47)	$	(47)
Amortization expense		-		19		19
Classification		-		-		-
Balance at Jun. 30, 2017	$	-	$	(28)	$	(28)

Current Debt, net at Jun 30, 2017	$	2,858	$	1,431	$	4,289

Our interest expense for the three and six months ended June 30, 2017 and 2016 consisted of the following (in thousands):

	Three months Ended				Six months Ended
	June 30,				June 30,
	2017		2016		2017		2016
Interest expense:
Term loan	$	133	$	195	$	281	$	404
Debt discount		17		25		37		51
Debt issue costs		9		13		19		27
Total interest expense	$	159	$	233	$	337	$	482

The remaining annual principal payments of the debt outstanding at June 30, 2017 are as follows:

	Remaining Annual
	Principal Payments
Year	(in thousands)
2017	$	1,400
2018		2,978
Total	$	4,378

COMMON STOCK WARRANTS

6 Months Ended

Jun. 30, 2017

Stockholders Equity Note [Abstract]

COMMON STOCK WARRANTS

NOTE 10 - COMMON STOCK WARRANTS

At June 30, 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.

SHARE-BASED COMPENSATION

6 Months Ended

Jun. 30, 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 non-cash 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				Six months Ended
	June 30,				June 30,
	2017		2016		2017		2016
Research and development expense:
Stock options	$	34	$	43	$	68	$	85
Restricted stock units		-		-		-		-
Subtotal	$	34	$	43	$	68	$	85

General and administrative expense:
Stock options	$	53	$	77	$	106	$	155
Restricted stock units		30		30		59		60
Subtotal	$	183	$	107	$	165	$	215

Total	$	117	$	150	$	233	$	300

Stock Option Award Plans

We maintain various stock option plans. A summary of our stock option plan activity during the six month periods ending June 30, 2017 and 2016 is shown below:

	Six Months Ended
	June 30,
	2017				2016
	Number		Weighted		Number		Weighted
	of		Average		of		Average
	Options		Exercise		Options		Exercise
	(000’s)		Price		(000’s)		Price
Outstanding, Jan. 1		1,397	$	13.57		1,198	$	15.67
Granted		-		-		-		-
Exercised		(1)		(0.92)		-		-
Forfeited or expired		-		-		-		-
Outstanding, Jun. 30		1,396	$	13.58		1,198	$	15.67
Options exercisable		1,190	$	15.71		938	$	19.43

The following table summarizes information about nonvested stock options outstanding at June 30, 2017 (in thousands except price data):

	Number of		Weighted
	Options Not		Average
	Exercisable		Fair Value
Outstanding, Jan. 1, 2017		335	$	1.18
Granted		-		-
Vested		(129)		1.36
Forfeited		-		-
Outstanding, Jun. 30, 2017		206	$	1.07

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 intrinsic value of the option awards which were vested and outstanding at June 30, 2017 and 2016 was $0 thousand and $70 thousand, respectively. The total remaining unrecognized compensation cost on unvested option awards outstanding at June 30, 2017 was $222 thousand, and is expected to be recognized in operating expenses in varying amounts over the 17 months remaining in the requisite service periods.

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:

	Six months Ended June 30,
	2017				2016
	(in thousands)
			Number of				Number of
	Number		Vested		Number of		Vested
	of RSUs		RSUs		RSUs		RSUs
Outstanding, Jan. 1		91		91		45		45
Granted		238		-		88		-
Distributed		(67)		(67)		(42)		(42)
Vested		-		118		-		44
Forfeited or expired		-		-		-		-
Outstanding, Jun. 30		262		142		91		47

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 June 30, 2017, we had 3 thousand shares 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 $32 thousand at June 30, 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.

INCOME TAXES

6 Months Ended

Jun. 30, 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 June 30, 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 if gone unused. We also had approximately $0.2 million of Indiana state research and development tax credits, which will expire in 2017 if gone unused.

EARNINGS PER SHARE ("EPS")

6 Months Ended

Jun. 30, 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 either 2017 or 2016 as the Company reported a net loss for the three and six month periods, 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 (in thousands except per share data):

	Three months Ended				Six months Ended
	June 30,				June 30,
	2017		2016		2017		2016
EPS – basic and diluted
Numerator: net loss	$	(2,149)	$	(3,288)	$	(1,744)	$	(6,672)
Denominator (weighted):
Common shares		11,883		11,834		11,883		11,833
Vested RSUs		83		24		54		14
Basic and diluted weighted average shares outstanding		11,966		11,858		11,937		11,847
EPS – basic and diluted	$	(0.18)	$	(0.28)	$	(0.15)	$	(0.56)

Excluded securities (non-weighted):
Common shares issuable:
Stock options	1,396	1,198	1,396	1,198
Nonvested RSUs	120	44	120	44
Common stock warrants	60	60	60	60
Total excluded common shares	1,576	1,302	1,576	1,302

COMMITMENTS AND CONTINGENCIES

6 Months Ended

Jun. 30, 2017

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 14 – COMMITMENTS AND CONTINGENCIES

Reglan®/Metoclopramide Litigation

Halsey Drug Company, as predecessor to Acura, 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. On June 15, 2017, a Stipulation of Dismissal without prejudice was entered as to nearly all of the Pennsylvania cases pending against us. We expect that the remaining few cases will be dismissed based on lack of product identification and the Court will 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. Plaintiffs are proceeding to resolve all of their claims with co-defendants. Therefore, upon completion of this process, we expect that the lawsuits filed against us will be dismissed voluntarily with prejudice later this year. 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 June 30, 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.

Egalet Agreement covering Oxaydo

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 June 30, 2017 and December 31, 2016, we have accrued approximately $217 thousand and $150 thousand, respectively, of these potential cost sharing expenses under the Egalet Agreement.

Facility Lease

The Company leases administrative office space in Palatine, Illinois on a month to month basis at the rate of approximately $2,000 per month.

INVENTORIES (Tables)

6 Months Ended

Jun. 30, 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)

6 Months Ended

Jun. 30, 2017

Property, Plant and Equipment [Abstract]

Property Plant and Equipment

Property, plant and equipment at June 30, 2017 and December 31, 2016 are summarized as follows:

	June 30,		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		275		568
Land and improvements		162		162
Other personal property		70		70
Office equipment		27		27
Total		2,514		2,807
Less: impairment reserve		-		(82)
Less: accumulated depreciation		(1,794)		(1,858)
Net property, plant and equipment	$	720	$	867

DEBT (Tables)

6 Months Ended

Jun. 30, 2017

Debt Disclosure [Abstract]

Schedule of Debt

Our debt at June 30, 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		(1,122)		-		(1,122)
Classification		1,459		(1,459)		-
Balance at Jun. 30, 2017	$	2,858	$	1,520	$	4,378

Debt Discount	Current		Long-term		Total
Balance at Jan. 1, 2017	$	-	$	(98)	$	(98)
Amortization expense		-		37		37
Classification		-		-		-
Balance at Jun. 30, 2017	$	-	$	(61)	$	(61)

Deferred Debt Issuance Costs	Current		Long-term		Total
Balance at Jan. 1, 2017	$	-	$	(47)	$	(47)
Amortization expense		-		19		19
Classification		-		-		-
Balance at Jun. 30, 2017	$	-	$	(28)	$	(28)

Current Debt, net at Jun 30, 2017	$	2,858	$	1,431	$	4,289

Schedule of Interest Expense

Our interest expense for the three and six months ended June 30, 2017 and 2016 consisted of the following (in thousands):

	Three months Ended				Six months Ended
	June 30,				June 30,
	2017		2016		2017		2016
Interest expense:
Term loan	$	133	$	195	$	281	$	404
Debt discount		17		25		37		51
Debt issue costs		9		13		19		27
Total interest expense	$	159	$	233	$	337	$	482

Schedule Of Long Term Debt Future Principal Payments Year

The remaining annual principal payments of the debt outstanding at June 30, 2017 are as follows:

	Remaining Annual
	Principal Payments
Year	(in thousands)
2017	$	1,400
2018		2,978
Total	$	4,378

SHARE-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 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 non-cash 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				Six months Ended
	June 30,				June 30,
	2017		2016		2017		2016
Research and development expense:
Stock options	$	34	$	43	$	68	$	85
Restricted stock units		-		-		-		-
Subtotal	$	34	$	43	$	68	$	85

General and administrative expense:
Stock options	$	53	$	77	$	106	$	155
Restricted stock units		30		30		59		60
Subtotal	$	183	$	107	$	165	$	215

Total	$	117	$	150	$	233	$	300

Schedule of Share-based Compensation, Stock Options, Activity

A summary of our stock option plan activity during the six month periods ending June 30, 2017 and 2016 is shown below:

	Six Months Ended
	June 30,
	2017				2016
	Number		Weighted		Number		Weighted
	of		Average		of		Average
	Options		Exercise		Options		Exercise
	(000’s)		Price		(000’s)		Price
Outstanding, Jan. 1		1,397	$	13.57		1,198	$	15.67
Granted		-		-		-		-
Exercised		(1)		(0.92)		-		-
Forfeited or expired		-		-		-		-
Outstanding, Jun. 30		1,396	$	13.58		1,198	$	15.67
Options exercisable		1,190	$	15.71		938	$	19.43

Schedule of Nonvested Share Activity

The following table summarizes information about nonvested stock options outstanding at June 30, 2017 (in thousands except price data):

	Number of		Weighted
	Options Not		Average
	Exercisable		Fair Value
Outstanding, Jan. 1, 2017		335	$	1.18
Granted		-		-
Vested		(129)		1.36
Forfeited		-		-
Outstanding, Jun. 30, 2017		206	$	1.07

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

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

	Six months Ended June 30,
	2017				2016
	(in thousands)
			Number of				Number of
	Number		Vested		Number of		Vested
	of RSUs		RSUs		RSUs		RSUs
Outstanding, Jan. 1		91		91		45		45
Granted		238		-		88		-
Distributed		(67)		(67)		(42)		(42)
Vested		-		118		-		44
Forfeited or expired		-		-		-		-
Outstanding, Jun. 30		262		142		91		47

EARNINGS PER SHARE ("EPS") (Tables)

6 Months Ended

Jun. 30, 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 (in thousands except per share data):

	Three months Ended				Six months Ended
	June 30,				June 30,
	2017		2016		2017		2016
EPS – basic and diluted
Numerator: net loss	$	(2,149)	$	(3,288)	$	(1,744)	$	(6,672)
Denominator (weighted):
Common shares		11,883		11,834		11,883		11,833
Vested RSUs		83		24		54		14
Basic and diluted weighted average shares outstanding		11,966		11,858		11,937		11,847
EPS – basic and diluted	$	(0.18)	$	(0.28)	$	(0.15)	$	(0.56)

Excluded securities (non-weighted):
Common shares issuable:
Stock options	1,396	1,198	1,396	1,198
Nonvested RSUs	120	44	120	44
Common stock warrants	60	60	60	60
Total excluded common shares	1,576	1,302	1,576	1,302

OPERATIONS Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended		6 Months Ended
	Jul. 31, 2017	Oct. 31, 2016	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Cash, Cash Equivalent And Marketable Securities			$ 1,100		$ 1,100
Working Capital Deficit			2,800		2,800
Retained Earnings (Accumulated Deficit), Total			(376,442)		(376,442)		$ (374,698)
Operating Income (Loss), Total			(1,991)	$ (3,079)	(1,409)	$ (6,217)
Net Income (Loss) Attributable to Parent, Total			(2,149)	(3,288)	(1,744)	(6,672)
Restricted Cash and Cash Equivalents, Current			2,500	$ 2,500	2,500	$ 2,500	$ 2,500
Proceeds from Issuance or Sale of Equity		$ 6,000
Subsequent Event [Member]
Proceeds from Issuance or Sale of Equity	$ 3,900
Oxford Term Loan Agreement [Member]
Restricted Cash and Cash Equivalents, Current			$ 2,500		$ 2,500

LICENSE, DEVELOPMENT, AND COMMERCIALIZATION AGREEMENTS - Additional Information (Detail) - USD ($) $ in Thousands		1 Months Ended			3 Months Ended		6 Months Ended
	Oct. 09, 2015	Mar. 16, 2017	Oct. 31, 2016	Apr. 30, 2014	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 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 Egalets launch of Oxaydo. Termination does not affect a partys rights accrued prior thereto, but there are no stated payments in connection with termination other than payments of obligations previously accrued. For all terminations (but not expiration), the Egalet Agreement provides for the transition of development and marketing of Oxaydo from Egalet to us, including the conveyance by Egalet to us of the trademarks and all regulatory filings and approvals relating to Oxaydo, and for Egalets supply of Oxaydo for a transition period.
Amortization of Intangible Assets							$ 103	$ 103
License Agreement Option Products Description		In addition, MainPointe has the option to add to the MainPointe Agreement certain additional products, or Option Products, containing PSE and utilizing the Impede technology for a fee of $500 thousand per product (for all product strengths). MainPointes option rights extend to the product that was subject to the Bayer Agreement, as described below. 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.
Patents [Member]
License Development and Commercialization Agreement [Line Items]
Payment for Termination				$ 2,000
Egalet Agreement
License Development and Commercialization Agreement [Line Items]
Payment for Termination				$ 2,000
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
Amortization of Intangible Assets					$ 52	$ 52	$ 104	$ 104
Finite-Lived Intangible Asset, Useful Life				9 years 8 months 12 days
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months					208		208
Finite-Lived Intangible Assets, Amortization Expense, Year Two					208		208
Finite-Lived Intangible Assets, Amortization Expense, Year Three					208		208
Finite-Lived Intangible Assets, Amortization Expense, Year Four					$ 208		208
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%
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		6 Months Ended
	Mar. 16, 2017	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Other Revenue, Net		$ 23	$ 133	$ 59	$ 233
Royalty Revenue, Total		$ 69	$ 30	143	47
Egalet Agreement [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Royalty Revenue, Total				135	$ 47
Main Pointe Agreement [Member]
Revenue Recognition, Multiple-deliverable Arrangements [Line Items]
Royalty Revenue, Total				8
Proceeds from License Fees Received	$ 2,500			$ 2,500
Licensing Agreement, Royalty Percentage	7.50%

RESEARCH AND DEVELOPMENT ACTIVITIES - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 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
Professional and Contract Services Expense	$ 200

INVENTORIES - Schedule of Inventories (Detail) - USD ($) $ in Thousands	Jun. 30, 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	Jun. 30, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 2,514	$ 2,807
Less: impairment reserve	0	(82)
Less: accumulated depreciation	(1,794)	(1,858)
Net property, plant and equipment	720	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	275	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	Jun. 30, 2017	Dec. 31, 2016
Accounts Payable and Accrued Liabilities [Line Items]
Cost sharing expenses under license agreement	$ 217	$ 150
Other fees and services	56	47
Payroll, payroll taxes and benefits	74	116
Professional services	181	232
Clinical, non-clinical and regulatory services	133	131
Marketing, advertising, and promotion	0	10
Property taxes	13	16
Franchise taxes	17	1
Total	$ 691	$ 703

DEBT - Summary of Debt (Detail) $ in Thousands	6 Months Ended
DEBT - Summary of Debt (Detail) $ in Thousands	Jun. 30, 2017 USD ($)
Current Debt
Balance at Jan. 1, 2017	$ 5,500
Principal payments	(1,122)
Classification	0
Balance at Jun. 30, 2017	4,378
Debt Discount
Balance at Jan. 1, 2017	(98)
Amortization expense	37
Classification	0
Balance at Jun. 30, 2017	(61)
Deferred Debt Issuance Costs
Balance at Jan. 1, 2017	(47)
Amortization expense	19
Classification	0
Balance at Jun. 30, 2017	(28)
Current Debt, net at Jun. 30, 2017	4,289
Long-term [Member]
Current Debt
Balance at Jan. 1, 2017	2,979
Principal payments	0
Classification	(1,459)
Balance at Jun. 30, 2017	1,520
Debt Discount
Balance at Jan. 1, 2017	(98)
Amortization expense	37
Classification	0
Balance at Jun. 30, 2017	(61)
Deferred Debt Issuance Costs
Balance at Jan. 1, 2017	(47)
Amortization expense	19
Classification	0
Balance at Jun. 30, 2017	(28)
Current Debt, net at Jun. 30, 2017	1,431
Current [Member]
Current Debt
Balance at Jan. 1, 2017	2,521
Principal payments	(1,122)
Classification	1,459
Balance at Jun. 30, 2017	2,858
Debt Discount
Balance at Jan. 1, 2017	0
Amortization expense	0
Classification	0
Balance at Jun. 30, 2017	0
Deferred Debt Issuance Costs
Balance at Jan. 1, 2017	0
Amortization expense	0
Classification	0
Balance at Jun. 30, 2017	0
Current Debt, net at Jun. 30, 2017	$ 2,858

DEBT - Interest Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
DEBT - Interest Expense (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Schedule Of Interest Expense [Line Items]
Term Loan	$ 133	$ 195	$ 281	$ 404
Debt discount	17	25	37	51
Debt issue costs	9	13	19	27
Total interest expense	$ 159	$ 233	$ 337	$ 482

DEBT - Long-Term Debt (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
2017	$ 1,400
2018	2,978
Total	$ 4,378	$ 5,500

DEBT - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		1 Months Ended		3 Months Ended		6 Months Ended
	Jan. 07, 2015	Jul. 24, 2017	Oct. 31, 2016	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 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		$ 50
Debt consulting placement fee						100
Debt related commitment fees and debt issuance costs				9	$ 13	19	$ 27
Debt instrument unamortized discount				$ 61		61		$ 98
Debt instrument Cash Maintenance	$ 2,500
Repayments of Debt						1,122	1,034
Debt Instrument, Periodic Payment						$ 260
Debt Instrument, Interest Rate, Effective Percentage				10.16%		10.16%
Proceeds from Issuance or Sale of Equity			$ 6,000
Interest Payable, Current				$ 30		$ 30		0
Proceeds from Issuance of Private Placement		$ 3,900
Restricted Cash and Cash Equivalents, Current				2,500	$ 2,500	2,500	$ 2,500	2,500
Term Loan [Member]
Debt Instrument [Line Items]
Debt related commitment fees and debt issuance costs						231
Interest Payable, Current				634		634		$ 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
Main Pointe Agreement [Member]
Debt Instrument [Line Items]
Upfront Payments Received		2,500
Oxford Term Loan Agreement [Member]
Debt Instrument [Line Items]
Restricted Cash and Cash Equivalents, Current		$ 2,500
Warrant
Debt Instrument [Line Items]
Debt instrument unamortized discount				$ 400		$ 400
Warrants to purchase common stock				60	60	60	60
Class of Warrant or Right, Exercise Price of Warrants or Rights				$ 7.98	$ 2.52	$ 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		$ 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	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2013
Class of Warrant or Right [Line Items]
Secured Debt			$ 10.0
Warrant
Class of Warrant or Right [Line Items]
Common stock warrant exercisable outstanding, shares	60	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		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Research and development expense	$ 1,020	$ 1,403	$ 1,731	$ 2,417
Total	117	150	233	300
Research and Development Expense [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Research and development expense	34	43	68	85
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	68	85
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	0	0
General and Administrative Expense [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
General and administrative expense	183	107	165	215
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	106	155
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	$ 59	$ 60

SHARE-BASED COMPENSATION - Stock Option Award Activity (Detail) - Stock Option Plan [Member] - $ / shares shares in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	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	1,190		938
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	$ 15.71		$ 19.43

SHARE-BASED COMPENSATION - Summary of Information about Non Vested Stock Options (Detail) shares in Thousands	6 Months Ended
	Jun. 30, 2017 $ / shares shares
Summary Of Information About Non Vested Stock Options Disclosure [Line Items]
Outstanding, beginning \| shares	335
Granted \| shares	0
Vested \| shares	(129)
Forfeited \| shares	0
Outstanding, ending \| shares	206
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	$ 1.07

SHARE-BASED COMPENSATION - Summary of RSU Plan (Detail) - shares shares in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Share based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, beginning	335
Granted	0
Vested	129
Forfeited or expired	0
Outstanding, ending	206
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
Granted	0	0
Distributed	(67)	(42)
Vested	118	44
Forfeited or expired	0	0
Outstanding, ending	142	47

SHARE-BASED COMPENSATION - Additional Information (Detail) - USD ($) shares in Thousands, $ in Thousands		1 Months Ended		6 Months Ended	8 Months Ended
	Jan. 03, 2017	Jan. 04, 2016	May 01, 2014	Jun. 30, 2017	Jan. 02, 2015	Dec. 31, 2016	Jun. 30, 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				$ 222
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 Share Based Payment Shares Reserved For Future Distribution		2
Deferred Compensation Arrangement with Individual, Recorded Liability	$ 32					$ 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		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
EPS - basic and diluted
Numerator: net loss	$ (2,149)	$ (3,288)	$ (1,744)	$ (6,672)
Denominator:
Common shares	11,883	11,834	11,883	11,833
Vested RSUs	83	24	54	14
Basic and diluted weighted average shares outstanding	11,966	11,858	11,937	11,847
EPS - basic and diluted	$ (0.18)	$ (0.28)	$ (0.15)	$ (0.56)
Common stock issuable:
Total excluded potentially dilutive shares	1,576	1,302	1,576	1,302
Employee Stock Option [Member]
Common stock issuable:
Total excluded potentially dilutive shares	1,396	1,198	1,396	1,198
Warrant [Member]
Common stock issuable:
Total excluded potentially dilutive shares	60	60	60	60
Restricted Stock Units (RSUs) [Member]
Common stock issuable:
Total excluded potentially dilutive shares	120	44	120	44

COMMITMENTS AND CONTINGENCIES - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2017 USD ($)	Dec. 31, 2016 USD ($)
Commitments and Contingencies Disclosure [Line Items]
Accrued Cost Sharing Expenses Clinical Studies	$ 217,000	$ 150,000
Pennsylvania State
Commitments and Contingencies Disclosure [Line Items]
Number of lawsuits filed	200
New Jersey State
Commitments and Contingencies Disclosure [Line Items]
Number of lawsuits filed	150
Number of lawsuits served	50
California State
Commitments and Contingencies Disclosure [Line Items]
Number of plaintiffs served in a single complaint	445
Palatine Illinois
Commitments and Contingencies Disclosure [Line Items]
Leases administrative office space	$ 2,000

PROPERTY, PLANT AND EQUIPMENT - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Impairment Of Property, Plant and Equipment, Reserve	$ 0	$ (82)