Document And Entity Information - USD ($) $ in Millions	12 Months Ended
Document And Entity Information - USD ($) $ in Millions	Dec. 31, 2018	Sep. 12, 2019	Jun. 30, 2018
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY
Entity Registrant Name	ACURA PHARMACEUTICALS, INC
Entity Central Index Key	0000786947
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Public Float			$ 2.7
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	ACUR
Entity Common Stock, Shares Outstanding		21,300,192

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Assets:
Cash and cash equivalents	$ 91	$ 2,220
Royalty receivable	137	71
Prepaid expenses and other current assets	166	275
Income tax receivable	67	0
Total current assets	461	2,566
Income tax receivable	68	135
Property, plant and equipment, net (Note 5)	606	679
Intangible asset, net of accumulated amortization of $983 and $776 (Note 3)	1,017	1,224
Total assets	2,152	4,604
Liabilities:
Accounts payable	605	3
Accrued expenses (Note 6)	596	939
Accrued interest	0	700
Other current liabilities	11	41
Sales returns liability	223	254
Debt, net of discounts (Note 7)	0	2,694
Total current liabilities	1,435	4,631
Debt to related party, net of discounts (Note 7)	4,224	0
Accrued interest to related party (Note 7)	110	0
Total liabilities	5,769	4,631
Commitments and contingencies (Note 14)
Stockholders' deficit:
Common stock - $0.01 par value per share; 100,000 shares authorized, 21,034 and 20,796 shares issued and outstanding at December 31, 2018 and 2017, respectively	210	208
Additional paid-in capital	380,395	380,145
Accumulated deficit	(384,222)	(380,380)
Total stockholders' deficit	(3,617)	(27)
Total liabilities and stockholders' deficit	$ 2,152	$ 4,604

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
CONSOLIDATED BALANCE SHEETS
Accumulated amortization, deferred finance costs	$ 983	$ 776
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000	100,000
Common stock, shares issued	21,034	21,034
Common stock, shares outstanding	20,796	20,796

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Revenues:
License fee revenue	$ 0	$ 2,500
Collaboration revenue	0	59
Royalty revenue	410	300
Product sales, net	0	107
Total revenues, net	410	2,966
Costs and expenses:
Cost of sales	0	128
Research and development	1,759	3,721
Selling, marketing, general and administrative	2,566	4,342
Total costs and expenses	4,325	8,191
Operating loss	(3,915)	(5,225)
Non-operating income (expense):
Interest expense, net (Note 7)	(223)	(592)
Gain on debt extinguishment (Note 7)	296	0
Total other income (expense), net	73	(592)
Loss before income taxes	(3,842)	(5,817)
Provision (benefit) for income taxes	0	(135)
Net loss	$ (3,842)	$ (5,682)
Net loss per share (Note 13):
Basic	$ (0.18)	$ (0.36)
Diluted	$ (0.18)	$ (0.36)
Weighted average number of shares outstanding:
Basic	21,146	15,903
Diluted	21,146	15,903

CONSOLIDATED STATEMENTS OF CHANGES IN ACCUMULATED STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Total
Balance at Dec. 31, 2016	$ 118	$ 375,763	$ (374,698)	$ 1,183
Balance (in shares) at Dec. 31, 2016	11,834
Net loss	$ 0	0	(5,682)	(5,682)
Noncash share-based compensation	0	464	0	464
Issuance of shares and warrants under private placement	$ 89	3,911	0	4,000
Issuance of shares and warrants under private placement (in shares)	8,913
Net distribution of common stock pursuant to restricted stock unit award plan	$ 1	7	0	8
Net distribution of common stock pursuant to restricted stock unit award plan (in shares)	49
Balance at Dec. 31, 2017	$ 208	380,145	(380,380)	(27)
Balance (in shares) at Dec. 31, 2017	20,796
Net loss	$ 0	0	(3,842)	(3,842)
Noncash share-based compensation	0	218	0	218
Net distribution of common stock pursuant to restricted stock unit award plan	$ 2	32	0	34
Net distribution of common stock pursuant to restricted stock unit award plan (in shares)	238
Balance at Dec. 31, 2018	$ 210	$ 380,395	$ (384,222)	$ (3,617)
Balance (in shares) at Dec. 31, 2018	21,034

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Cash Flows from Operating Activities:
Net loss	$ (3,842)	$ (5,682)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	73	87
Provision for sales returns	0	49
Non-cash share-based compensation	218	464
Capitalized debt discount	(172)	0
Amortization of debt discount and deferred debt issue costs	87	99
Amortization of intangible asset	207	207
Gain on debt extinguishment	(296)	0
Gain on disposals of property, plant and equipment	0	(2)
Changes in assets and liabilities:
Trade accounts receivable	0	23
Collaboration revenue receivable	0	79
Royalty receivable	(66)	(21)
Inventories	0	103
Prepaid expenses and other current assets	109	(7)
Income tax receivable	0	(135)
Accounts payable	602	(74)
Accrued expenses	(343)	236
Accrued interest on debt	(566)	141
Accrued interest on related party debt	110	0
Other current liabilities	2	22
Sales returns liability	(31)	(99)
Net cash used in operating activities	(3,908)	(4,510)
Cash Flows from Investing Activities:
Proceeds from transfer of equipment to licensee	0	103
Proceeds from transfer of inventory to licensee	0	206
Net cash provided by investing activities	0	309
Cash Flows from Financing Activities:
Proceeds from distribution of restricted stock units	2	0
Proceeds from related party debt	4,350	0
Principal payments debt	(2,573)	(2,760)
Issuance of common stock	0	4,000
Net cash provided by financing activities	1,779	1,240
Net decrease in cash and cash equivalents	(2,129)	(2,961)
Cash and cash equivalents at beginning of year	2,220	5,181
Cash and cash equivalents at end of year	91	2,220
Supplemental Disclosures of Cash Flow Information:
Cash interest payments on debt	759	355
Cash	91	2,196
Cash equivalents	0	24
Total cash and cash equivalents cash show in the consolidated statements of cash flows	$ 91	$ 2,220

OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2018

OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 1 – OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Principal Operations

Acura Pharmaceuticals, Inc., a New York corporation, and its subsidiary (the “Company”, “Acura”, “We”, “Us” or “Our”) is an innovative drug delivery company engaged in the research, development and commercialization of technologies and products intended to address safe use of medications. We have discovered and developed three proprietary platform technologies which can be used to develop multiple products. Our Limitx™ Technology is being developed to minimize the risk of opioid overdose, our Aversion® Technology is intended to address methods of abuse associated with opioid analgesics while our Impede® Technology is directed at minimizing the extraction and conversion of pseudoephedrine, or PSE, into methamphetamine.

Our Limitx Technology is in development with immediate-release tablets containing hydrocodone bitartrate and acetaminophen as the lead product candidate due to its large market size and its known prevalence of oral excessive tablet abuse. The technology is designed to retard the release of active drug ingredients when too many tablets are accidentally or purposefully ingested by neutralizing stomach acid with buffer ingredients but deliver efficacious amounts of drug when taken as a single tablet with a nominal buffer dose.

Our Aversion Technology has been licensed to Zyla Life Sciences or Zyla (formerly known as Egalet Corporation) for use in Oxaydo® Tablets (oxycodone HCl, CII), and is the first approved immediate-release oxycodone product in the United States with abuse deterrent labeling. Oxaydo is currently approved by the FDA for marketing in the United States in 5mg and 7.5mg strengths (See Note 3).

Our Impede Technology is used in Nexafed® Tablets (30mg pseudoephedrine HCl) and Nexafed® Sinus Pressure + Pain Tablets (30/325mg pseudoephedrine HCl and acetaminophen). We have licensed to MainPointe Pharmaceuticals, LLC (MainPointe), our Impede Technology in the United States and Canada to commercialize these Nexafed products (See Note 3).

Basis of Presentation, Liquidity and Substantial Doubt in Going Concern

The accompanying consolidated financial statements of the Company have been prepared assuming the Company will continue as a going concern and in accordance with generally accepted accounting principles in the United States of America. The going concern basis of presentation assumes that we will continue in operation one year after the date these financial statements are issued and we will be able to realize our assets and discharge our liabilities and commitments in the normal course of business. As of December 31, 2018, we had cash of $91 thousand, working capital deficit of $974 thousand and an accumulated deficit of $384.2 million. We had a loss from operations of $3.92 million and a net loss of $3.84 million for the year ended December 31, 2018. We have suffered recurring losses from operations and have not generated positive cash flows from operations. We anticipate operating losses to continue for the foreseeable future.

From January 1, 2019 and through June 27, 2019, we borrowed an aggregate of $650 thousand from Mr. Schutte and issued various promissory notes to him with the same terms and conditions from the previous loans. On June 28, 2019 the aggregate principal of the promissory notes was $5.0 million and the accrued interest was $274 thousand. On June 28, 2019 we borrowed $726 thousand from Mr. Schutte, bringing the aggregate principal of the loans and accrued interest to $6.0 million, and consolidated the loans into a single promissory note with a fixed interest rate of 7.5%, maturity date of July 1, 2023, granted conversion rights into 37.5 million shares of our common stock at a price of $0.16 per share, issued a warrant for 10.0 million common shares having an exercise price of $0.01 per share, and granted a security interest in all of the Company’s assets. On June 28, 2019 we entered into License, Development and Commercialization Agreement with Abuse Deterrent Pharma, LLC (AD Pharma) and the $6.0 million promissory note, the common stock purchase warrant and the security agreement were all assigned and transferred by Mr. Schutte to AD Pharma. (See Subsequent Event - Note 15). AD Pharma has the right to terminate the agreement for “convenience”. Should AD Pharma exercise their right to terminate the agreement, we would need to raise additional financing or enter into license or collaboration agreements with third parties relating to our technologies. No assurance can be given that we will be successful in obtaining any such financing or in securing license or collaboration agreements with third parties on acceptable terms, if at all, or if secured, that such financing or license or collaboration agreements will provide payments to the Company sufficient to fund continued operations. In the absence of such financing or third-party license or collaboration agreements, 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, management has concluded that substantial doubt exists with respect to the Company’s ability to continue as a going concern within one year after the date the financial statements are issued. The recoverability of a major portion of the recorded asset amounts shown in the Company’s accompanying consolidated balance sheets is dependent upon continued operations of the Company, which in turn is dependent upon the Company’s ability to meet its funding requirements on a continuous basis, to maintain existing financing and to succeed in its future operations. The Company’s financial statements do not include any adjustment relating to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue in existence.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2018

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Accounting

The consolidated financial statements include the accounts of our wholly-owned subsidiary, Acura Pharmaceutical Technologies Inc., after elimination of intercompany accounts and transactions. Amounts presented have been rounded to the nearest thousand, where indicated, except share and per share data.

Use of Estimates

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

Concentration of Credit Risk

Financial instruments that potentially subject the Company to a significant concentration of credit risk consist primarily of cash and cash equivalents and royalty receivable. The Company maintains deposits in federally insured financial institutions which are in excess of federally insured limits. However, management believes the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held.

Cash and Cash Equivalents

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

Fair Value Measurements

The Company’s financial instruments consist primarily of cash and cash equivalents, receivables from royalties, trade accounts payable, and our debt to related party. The carrying amounts of these financial instruments are representative of their respective fair values due to their relatively short maturities.

Share-based Compensation Expense

We have several share-based compensation plans covering stock options and RSUs for our employees and directors, which are described more fully in Note 11.

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

Our share-based compensation expense recognized in the Company’s results of operations from non-cash and cash-portioned instruments issued to our employees and directors comprised the following (in thousands):


	Year Ended
	December 31,
	2018		2017
Research and development expense:
Stock option awards	$	38	$	136
RSU awards		27		3
	$	65	$	139

Selling, marketing, general and administrative expense:
Stock option awards		61		203
RSU awards		104		156
	$	165	$	359

Total share-based compensation expense	$	230	$	498

Property, Plant and Equipment

Property, plant and equipment are stated at cost, less accumulated depreciation. We have no leasehold improvements. Betterments are capitalized and maintenance and repairs are charged to operations as incurred. When a depreciable asset is retired from service, the cost and accumulated depreciation is removed from the respective accounts.

Depreciation expense is recorded on a straight-line basis over the estimated useful lives of the related assets. The estimated useful lives of the major classification of depreciable assets are:


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

Intangible and Long-Lived Assets

Long-lived assets such as the intangible asset and property, plant and equipment are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. Recoverability of the assets to be held and used is measured by a comparison of the carrying amount of the asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying value of an asset exceeds its estimated future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset. We had no impairment charges during the years 2018 or 2017.

License Fee Revenue

On signing the MainPointe Agreement in March 2017, 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).

Collaboration Revenue

Collaboration revenue is derived from reimbursement of development expenses, such as under our agreement with Bayer, and are recognized when costs are incurred pursuant to the agreements. The ongoing research and development services being provided under the collaboration are priced at fair value based upon the reimbursement of expenses incurred pursuant to the collaboration agreements. We recognized $59 thousand of collaboration revenue during the year 2017.

Royalty Revenue

We recognize revenue from royalties based on our licensees' sales of our products or products using our technologies. Royalties are sales-based royalties which are recognized as the related sales occur. These royalties were promised in exchange for a license of intellectual property.

In connection with our Collaboration and License Agreement with Zyla to commercialize Oxaydo tablets we will receive a stepped royalty at percentage rates ranging from mid-single digits to double-digits based on Oxaydo net sales during each calendar year over the term of the agreement (excluding net sales resulting from any co-promotion efforts by us). We recognize royalty revenue each calendar quarter based on net sales reported to us by Zyla in accordance with the agreement. Zyla’s first commercial sale of Oxaydo occurred in October 2015 and we have recorded royalties of $386 thousand and $281 thousand on net sales for the years 2018 and 2017, respectively (See Note 3).

In connection with the MainPointe Agreement, 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 $24 thousand and $19 thousand for the years 2018 and 2017 (See Note 3).

Net 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 in March 2017, 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.

Advertising and Shipping/Handling Costs

The Company records the cost of its advertising efforts in marketing expenses when services are performed or goods are delivered. 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 as selling expenses from the shipments of the Nexafed product line as well as amounts recorded as marketing expenses from our advertising activities during 2017 were not material.

Deferred Debt Issuance Costs and Debt Discount

Deferred debt issuance costs include costs of debt financing undertaken by the Company, including legal fees, placement fees and other direct costs of the financing. Debt discount can be incurred from value attributable to warrants issued in conjunction with the financing and/or attributable to the below market rate element of the loan if we believe the loan’s rate of interest is below current market rates for us, as in the case of the Schutte Loans. Debt issuance costs and debt discount are amortized into interest expense over the term of the related debt using the effective interest method. Deferred debt issuance costs and debt discount are presented on the consolidated balance sheets as a direct reduction against the debt.

Research and Development Activities

Research and Development (“R&D”) costs include internal R&D activities, external Contract Research Organization (“CRO”) services and their clinical research and investigative sites, and other activities. Internal R&D activity costs can include facility overhead, equipment and facility maintenance and repairs, laboratory supplies, pre-clinical laboratory experiments, formulation work, depreciation, salaries, benefits, insurance and share-based compensation expenses. CRO activity costs can include preclinical laboratory experiments and clinical trial studies. Other activity costs can include regulatory consulting, regulatory legal counsel, cost of acquiring, developing and manufacturing pre-clinical trial materials, costs of manufacturing scale-up, and cost sharing expenses under license agreements. Internal R&D costs and other activity costs are charged to expense 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. Payments in advance will be reflected in the consolidated financial statements as prepaid expenses. We review and charge to expense accrued CRO costs and clinical trial study costs 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. Our accrued CRO costs are subject to revisions as such studies progress towards completion. Revisions are charged to expense in the period in which the facts that give rise to the revision become known.

We did not have prepaid CRO costs or prepaid clinical trial study expenses at December 31, 2018 and 2017. We did not have obligations under non-cancelable arrangements at December 31, 2018 and 2017.

Income Taxes

We account for income taxes under the liability method. Under this method, deferred income tax assets and liabilities are determined based on differences between the financial reporting and the income tax basis of assets and liabilities and are measured using the enacted income tax rates and laws that will be in effect when the differences are expected to reverse. Additionally, net operating loss and tax credit carryforwards are reported as deferred income tax assets. The realization of deferred income tax assets is dependent upon future earnings. A valuation allowance is required against deferred income tax assets if, based on the weight of available evidence, it is more likely than not that some or all of the deferred income tax assets may not be realized. At December 31, 2018 and 2017, 100% of all remaining net deferred income tax assets were offset by a valuation allowance due to uncertainties with respect to future utilization of net operating loss carryforwards. If in the future it is determined that additional amounts of our deferred income tax assets would likely be realized, the valuation allowance would be reduced in the period in which such determination is made and an additional benefit from income taxes in such period would be recognized.

Basic and Diluted Net Loss per Share

Basic net loss per share is computed by dividing net income or loss by the weighted average common shares outstanding during a period, including shares weighted related to vested Restricted Stock Units (“RSUs”) (See Note 12). Diluted net loss per share 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 common stock purchase warrants, assuming the exercise of all in-the-money stock options and common stock purchase warrants. Common stock equivalents are excluded from the computation where their inclusion would be anti-dilutive. As the Company reported a net loss in 2018 and 2017 the effects of common stock equivalents were excluded as the diluted net loss per share calculation would have been antidilutive.

Customer Concentration

In March 2017, we licensed our Nexafed product line to MainPointe. Until that time our accounts receivable arose from our sales of our Nexafed product line and represented amounts due from wholesalers in the health care and pharmaceuticals industries and from chain drug stores.

Under our license agreement with Zyla, we earn royalties from the Zyla’s sale of the licensed product Oxaydo. Zyla filed for voluntary bankruptcy reorganization during the fourth quarter 2018 and emerged with a court approved plan in January 2019. We have not established a reserve for uncollectable accounts as we believed these amounts were fully collectable. In February 2019, we received payments from Zyla for these amounts.

Recent Accounting Pronouncements

Revenue from Contracts with Customers

The Company adopted Accounting Standards Codification Topic 606, Revenue from Contracts with Customers, or Topic 606, on January 1, 2018, resulting in a change to its accounting policy for revenue recognition. The Company used the modified retrospective method and the cumulative effect of initially applying Topic 606 would have been recognized as an adjustment to the opening accumulated deficit at January 1, 2018. Accordingly, comparative information has not been adjusted and continues to be reported under the previous accounting standards. The implementation of Topic 606 had no financial impact to opening accumulated deficit at January 1, 2018 (See Note 4).

Scope of Modification Accounting, Stock Based Compensation

In May 2017, the FASB issued ASU No. 2017-09, Compensation – Stock Compensation, which provides 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 adopted this new standard on January 1, 2018 which did not have a material impact on the Company’s financial statements.

Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments

In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows, 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 adopted this new standard on January 1, 2018 which did not have a material impact on the Company’s financial statements.

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 financial statements reflect the current and deferred tax consequences of those intra-entity asset transfers when they occur. The new standard is effective for annual and interim periods, within those fiscal years, beginning after December 15, 2017 but early adoption is permitted. The Company adopted this new standard on January 1, 2018 which did not have a material impact on the Company’s financial statements.

Statements of Cash Flows - Restricted Cash

In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows – Restricted Cash, which 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 is 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.

Business Combinations – Clarifying the Definition of a Business

In January 2017, the FASB issued ASU No. 2017-01, Business Combinations – Clarifying the Definition of a Business, which clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The amendments in this update provide a screen to determine when an integrated set of assets and activities (collectively referred to as a “set”), is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. This screen reduces the number of transactions that need to be further evaluated. ASU 2017-01 is effective for annual periods beginning after December 15, 2017, but early application of the amendments in this update is allowed. The amendments in this update should be applied prospectively on or after the effective date. The Company early adopted this new standard on January 1, 2017 which did not have a material impact on the Company’s consolidated financial statements.

Simplification of Employee Share-Based Payment Accounting

In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation, 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.

Simplifying the Measurement of Inventory

In July 2015, the FASB issued ASU No. 2015-11, Inventory, which 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.

New accounting standards which have not yet been adopted on or before December 31, 2018

Fair Value Measurements

In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement. ASU 2018-13 eliminates certain disclosure requirements for fair value measurements for all entities, requires public entities to disclose certain new information and modifies some disclosure requirements. This standard is effective for fiscal years beginning after December 15, 2019, including interim reporting periods within those years, with early adoption permitted. The Company is currently evaluating the impact that the standard will have on the financial statements and related footnote disclosures.

Leases

In February 2016, the FASB issued ASU 2016-02, Leases, which establishes a comprehensive new lease accounting model. The new standard will require most leases (with the exception of leases with terms of one year or less) to be recognized on the balance sheet as a lease liability with a corresponding right-of-use asset. 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 transition method existing at or entered into after the beginning of the earliest comparative period presented in the financial statements, but it does not require transition accounting for leases that expire prior to the date of initial application. Upon adoption, operating leases will be reported on the balance sheet as a gross-up of assets and liabilities. The Company is currently evaluating the impact of the standard to the financial statements and footnote disclosure but does not expect a material impact as the Company does not have any material leases other than those entered into on a month-to-month basis.

LICENSE AND COMMERCIALIZATION AGREEMENTS	12 Months Ended
LICENSE AND COMMERCIALIZATION AGREEMENTS	Dec. 31, 2018
LICENSE AND COMMERCIALIZATION AGREEMENTS
LICENSE AND COMMERCIALIZATION AGREEMENTS	NOTE 3 – LICENSE AND COMMERCIALIZATION AGREEMENTS Zyla Agreement covering Oxaydo In April 2014, we terminated an agreement with Pfizer which resulted in 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 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 Pfizer agreement was terminated. The recoverability of the Aversion intangible asset is contingent upon future Zyla royalty revenues to us. We have recorded amortization expense of $207 thousand in each of the years ended December 31, 2018 and 2017. Annual amortization of the patent for its remaining life is expected to approximate $207 thousand per year. In January 2015, we and Egalet US, Inc. and Egalet Ltd., each a subsidiary of Egalet Corporation (now known as Zyla Life Sciences), or collectively Zyla, entered into a Collaboration and License Agreement (the “Zyla Agreement”) to commercialize Aversion Oxycodone 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 Zyla Agreement, we transferred the approved New Drug Application, or NDA, for Oxaydo to Zyla and Zyla 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 Zyla Agreement Zyla is responsible for the fees and expenses relating to the product line extensions of Oxaydo, provided that Zyla 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. Zyla will bear all of the expenses of development and regulatory approval of Oxaydo for sale outside the United States. Zyla is responsible for all manufacturing and commercialization activities in the Territory for Oxaydo. Subject to certain exceptions, Zyla will have final decision making authority with respect to all development and commercialization activities for Oxaydo, including pricing, subject to our co-promotion right. Zyla may develop Oxaydo for other countries and in additional strengths, in its discretion. Zyla paid us a $5.0 million license fee upon signing of the Zyla 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 sales-based milestone payment when worldwide Oxaydo net sales reach $150 million in a calendar year. We are entitled to receive from Zyla 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. Zyla’s royalty payment obligations commenced 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 Zyla to acquire intellectual property rights to commercialize Oxaydo, with an aggregate minimum floor. The Zyla Agreement expires upon the expiration of Zyla’s royalty payment obligations in all countries. Either party may terminate the Zyla Agreement in its entirety if the other party breaches a payment obligation, or otherwise materially breaches the Zyla 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 Zyla Agreement with respect to the U.S. and other countries if Zyla materially breaches its commercialization obligations. Zyla may terminate the Zyla Agreement for convenience on 120 days prior written notice, which termination may not occur prior to the second anniversary of Zyla’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 Zyla Agreement provides for the transition of development and marketing of Oxaydo from Zyla to us, including the conveyance by Zyla to us of the trademarks and all regulatory filings and approvals relating to Oxaydo, and for Zyla’s supply of Oxaydo for a transition period. MainPointe Agreement covering Nexafed Products In March 2017, we and MainPointe entered into the MainPointe Agreement, pursuant to which we granted MainPointe an exclusive license to our Impede Technology to commercialize both of our Nexafed and Nexafed Sinus Pressure + Pain product (“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. 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 $1.0 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). Such Option Products include the product candidate Loratadine with pseudoephedrine. 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 In October 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. Terminated Bayer Agreement Covering Methamphetamine Resistant Pseudoephedrine-containing Product In June 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. In June 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 Licensed Product is now subject to MainPointe’s option rights under the MainPointe Agreement.

REVENUE FROM CONTRACTS WITH CUSTOMERS

12 Months Ended

Dec. 31, 2018

REVENUE FROM CONTRACTS WITH CUSTOMERS

REVENUE FROM CONTRACTS WITH CUSTOMERS

NOTE 4 – REVENUE FROM CONTRACTS WITH CUSTOMERS

Adoption of ASC Topic 606, Revenue from Contracts with Customers

The Company adopted ASC Topic 606 on January 1, 2018 applying the modified retrospective method to all contracts that were not completed as of January 1, 2018. While the timing of future revenues under ASC Topic 606 may differ from the Company’s historical accounting practices under ASC Topic 605, the cumulative effect recorded through the Consolidated Statement of Stockholder’s Deficit was zero because there was no change in timing or measurement of revenues for open contracts at January 1, 2018.

Under ASC 606, revenue is recognized when, or as, performance obligations under terms of a contract are satisfied, which occurs when control of the promised service is transferred to a customer. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring services to a customer (“transaction price”). The Company will then recognize as revenue the amount of the transaction price that is allocated to the respective performance obligation when, or as, the performance obligation is satisfied. When determining the transaction price of the contract, an adjustment is made if payment from a customer occurs either significantly before or significantly after performance, resulting in a significant financing component. None of the Company’s licenses and collaboration agreements contained a significant financing component at December 31, 2018.

The Company’s existing license and collaboration agreements may contain a single performance obligation or may contain multiple performance obligations. Those which contain multiple performance obligations will require an allocation of the transaction price based on the estimated relative standalone selling prices of the promised services underlying each performance obligation.

The Company’s existing license and collaboration agreements contain customer options for the license of additional products and territories. We determined the option’s standalone selling prices based on the option product’s potential market size in the option territory as compared to the currently licensed product and U.S. territory. Some of our existing license and collaboration agreements contain a license to the technology as well as licenses to tradenames or trademarks. The Company determined that the licenses to the tradenames or trademarks were immaterial in context of the contract.

Net Product Sales

Prior to the licensing the Nexafed products to MainPointe in March 2017, 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. We recognized revenue from our Nexafed products 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. ASC 606 did not change the practice under which the Company previously recognized the product revenue from sales of the Nexafed products, which was at the time the product was shipped to a customer. As a result of the Company’s license agreement with MainPointe completed in March 2017, the Company no longer sold the Nexafed products. There was no impact from the recognition of revenue for Nexafed product sales under the adoption of ASC 606.

Sales-based Milestones and Royalty Revenues

The commercial sales-based milestones and sales royalties earned under the license and collaboration for Oxaydo and sales royalties earned under the license for the Nexafed products, are recorded in the period of the related sales by Zyla and MainPointe. Payments of sales-based milestones are generally due within 30 days after the end of a calendar year. Payments of royalties are generally due within 45 days after the end of a calendar quarter.

License and Collaboration Agreement Revenues

The achievement of milestones under the Company’s license and collaboration agreements will be recorded during the period the milestone’s achievement becomes probable, which may result in earlier recognition as compared to the previous accounting standards. The license fee of an option product or option territory under the Company’s license and collaboration agreements will be recorded when the option is exercised and any obligations on behalf of the Company, such as to transfer know-how, has been fulfilled, which may result in later recognition as compared to the previous accounting standards.

Disaggregation of Total Revenues

The Company has two license agreements for currently marketed products containing its technologies; the Oxaydo product containing the Aversion Technology has been licensed to Zyla and the Nexafed products containing the Impede Technology have been licensed to MainPointe. All of the Company’s royalty revenues are earned from these two license agreements by the licensee’s sale of products in the United State. Royalty revenues by licensee are summarized below:


	For the Year Ended
	December 31,
	2018		2017
		(in thousands)
Zyla	$	386	$	281
MainPointe		24		19
Royalty revenues	$	410	$	300

Contract Balance and Performance Obligations

The Company’s reported contract assets and contract liability balances under the license and collaboration agreements at either December 31, 2018 or 2017 were $0. Contract assets may be reported in future periods under prepaid expenses or other current assets on the consolidated balance sheet. Contract liabilities may be reported in future periods consisting of deferred revenue as presented on the consolidated balance sheet.

PROPERTY, PLANT AND EQUIPMENT

12 Months Ended

Dec. 31, 2018

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT

NOTE 5 – PROPERTY, PLANT AND EQUIPMENT

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


	December 31,
	2018		2017
Building and improvements	$	1,273	$	1,273
Scientific equipment		598		598
Computer hardware and software		107		107
Machinery and equipment		275		275
Land and improvements		162		162
Other personal property		70		70
Office equipment		27		27
		2,512		2,512
Less: accumulated depreciation		(1,906)		(1,833)
Total property, plant and equipment, net	$	606	$	679

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.

Depreciation expense was $73 thousand and $87 thousand for each of the years ended December 31, 2018 and 2017, respectively.

ACCRUED EXPENSES

12 Months Ended

Dec. 31, 2018

ACCRUED EXPENSES

ACCRUED EXPENSES

NOTE 6 – ACCRUED EXPENSES

Accrued expenses are summarized as follows (in thousands):


	December 31,
	2018		2017
Cost sharing expenses under license agreements	$	237	$	328
Other fees and services		36		36
Payroll, payroll taxes and benefits		6		70
Professional services		132		149
Financed premiums on insurance policies		102		—
Clinical, non-clinical and regulatory services		63		326
Property taxes		7		16
Franchise taxes		13		14
Total	$	596	$	939

DEBT

12 Months Ended

Dec. 31, 2018

DEBT

DEBT

NOTE 7 – DEBT

Fully Paid Loan due December 1, 2018

In December 2013, we entered into a Loan and Security Agreement (the “Oxford 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”). On October 5, 2018 we borrowed $1.8 million from Mr. Schutte and used $1.5 million from the loan proceeds to fully pay-off the debt outstanding under the Oxford Loan Agreement. All security interests of Oxford with respect to the Oxford Term Loan have been released.

The Oxford Term Loan accrued 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 beginning 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 was due and payable in full on December 1, 2018. As security for its obligations under the initial Oxford Loan Agreement (prior to the Third Amendment), the Company granted the Lender a security interest in substantially all of its existing and after−acquired assets, exclusive of its intellectual property assets. Upon the execution of the Oxford 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 amortized it to interest expense over the term of the loan using the loan’s effective interest rate. The Warrants were immediately exercisable for cash or by net exercise and will expire December 27, 2020.

In January 2015, we and Oxford amended the Oxford Loan Agreement providing for the exercise price of the Warrants to be 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.

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 Oxford Loan Agreement. Combined with the Company’s own expenses and a $100 thousand consulting placement fee, the Company incurred a total $231 thousand in deferred debt issue costs. We amortized these costs, including debt modification additional costs, into interest expense over the term of the Term Loan using the loan’s effective interest rate of 10.16%.

In October 2018, we negotiated and settled the Oxford Loan for $1.5 million and recognized a net gain of $296 thousand on principal and interest which has been reflected in our statement of operations as non-operating income.

Related Party Loans due January 2, 2020

We have borrowed an aggregate of $4.350 million as of December 31, 2018 (and additional amounts aggregating $650 thousand during the period January 1, 2019 through June 27, 2019) from Mr. Schutte, a related-party, and issued various promissory notes (the Schutte Notes) to him. The Schutte Notes bear interest at prime plus 2.0%, and mature on January 2, 2020, at which time all principal and interest is due. The Schutte Notes were unsecured until all obligations to Oxford were satisfied at which time we were required to grant a security interest to Mr. Schutte in all of our assets, including our intellectual property. Because we believe the Schutte Notes’ rate of interest is below current market rates for us, we impute interest on the below market rate element of the loans using the 10.16% interest rate under the Oxford Loan Agreement and this has aggregated to $172 thousand as of December 31, 2018. We recorded these benefits to interest income, with a corresponding like amount as debt discount against the principal amount of the loan. The debt discount will be amortized to interest expense over the term on the loans. At December 31, 2018, the unamortized debt discount balance is $126 thousand and the accrued interest balance is $110 thousand.

The events of default under the Schutte Notes are limited to bankruptcy defaults and failure to pay interest and principal when due on January 2, 2020. The Schutte Notes may be prepaid at any time in whole or in part.

Included in the $4.350 million loan outstanding from Mr. Schutte as of December 31, 2018 is a borrowing of $1.8 million completed on October 5, 2018 of which we used $1.5 million to fully pay-off the debt outstanding under the Oxford Loan Agreement. All our assets are pledged as collateral under the Schutte Notes, including our intellectual property.

During the period January 1, 2019 through June 27, 2019 we borrowed $650 thousand from Mr. Schutte. On June 28, 2019 we borrowed an additional $726 thousand from Mr. Schutte and consolidated the loans in a single note along with the accrued interest (See Subsequent Event - Note 15).

Our debt at December 31, 2018 is summarized below (in thousands):


Debt	Current		Long-term		Total
Loan Due December 1, 2018
Balance at Jan. 1, 2018	$	2,740	$	—	$	2,740
Principal payments		(2,573)		—		(2,573)
Gain from debt extinguishment		(167)		—		(167)
Balance at Dec. 31, 2018	$	—	$	—	$	—

Related Party Loan Due January 2, 2020
Balance at Jan. 1, 2018	$	—	$	—	$	—
Principal borrowings		—		4,350		4,350
Balance at Dec. 31, 2018	$	—	$	4,350	$	4,350


Debt Discount, net	Current		Long-term		Total
Balance at Jan. 1, 2018	$	(32)	$	—	$	(32)
Additions		—		(172)		(172)
Amortization expense		28		46		74
Write-off on debt extinguishment		4		—		4
Balance at Dec. 31, 2018	$	—	$	(126)	$	(126)


Deferred Debt Issuance Costs, net	Current		Long-term		Total
Balance at Jan. 1, 2018	$	(14)	$	—	$	(14)
Amortization expense		13		—		13
Write-off on debt extinguishment		1		—		1
Balance at Dec. 31, 2018	$	—	$	—	$	—

Debt, net at Dec. 31, 2018	$	—	$	4,224	$	4,224

Our debt interest expense for the twelve months ended December 31, 2018 and 2017 consisted of the following (in thousands):


	Year Ended
	December 31,
	2018		2017
Interest expense:
Fully paid term loan – due December 1, 2018	$	194	$	497
Related party term loans – due January 2, 2020		110		—
Debt discount		74		66
Debt issue costs		13		33
Financed insurance premiums		4		—
Total interest expense	$	395	$	596
Less: imputed interest income on related party loans		(172)		—
Less: interest income		—		(4)

Total interest expense, net	$	223	$	592

RELATED PARTY TRANSACTIONS	12 Months Ended
RELATED PARTY TRANSACTIONS	Dec. 31, 2018
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 8 – RELATED PARTY TRANSACTIONS In July 2017, we completed a $4.0 million private placement with Mr. Schutte (sometimes referred to as the “Investor”), consisting of 8,912,655 units (“Units”) of the Company, at a price of $0.4488 per Unit (the “Transaction”). Each Unit consists of one share of common stock and a warrant to purchase one fifth (0.2) of a share of common stock. The issue price of the Units was equal to 85% of the average last sale price of our common stock for the five trading days prior to completion of the Transaction. The warrants are immediately exercisable at a price of $0.528 per share (which equals the average last sale price of the Company’s common stock for the five trading days prior to completion of the Transaction) and expire five years after issuance (subject to earlier expiration in event of certain acquisitions). We have assigned a relative fair value of $495 thousand to the warrants out of the total $4.0 million proceeds from the private placement transaction and have accounted these warrants as equity. The Transaction was completed through a private placement to an accredited investor and was exempt from registration pursuant to Section 4(2) of the Securities Act of 1933, as amended and/or Regulation D promulgated under the Securities Act of 1933. Investor is a principal of MainPointe, a Kentucky limited liability company. In March 2017, we granted MainPointe an exclusive license to our Impede Technology to commercialize our Nexafed® and Nexafed® Sinus Pressure + Pain Products in the United States and Canada for an upfront licensing fee of $2.5 million plus approximately $309 thousand for transferred inventory and equipment. The Company will receive a 7.5% royalty on sales of licensed products. MainPointe also has options to expand the territory and products covered for additional sums. Included in the reported revenue for the years ended December 31, 2018 and 2017 is $24 thousand and $19 thousand, respectively of royalty revenue from MainPointe (See Note 3). As part of the closing of the Transaction, the Company and Essex Woodlands Health Ventures V, L.P. (“Essex”) and Galen Partners III, L.P. (“Galen”) amended and restated the existing Voting Agreement to provide for the Investor to join as a party (as so amended, the “Second Amended and Restated Voting Agreement”). The Second Amended and Restated Voting Agreement provides that our Board of Directors shall remain comprised of no more than seven members (subject to certain exceptions), (i) one of whom is the Company’s Chief Executive Officer, (ii) three of whom are independent under Nasdaq standards, and (iii) one of whom shall be designated by each of Essex, Galen and Investor, and the parties to such agreement would vote for such persons. The right of each of Essex, Galen and Investor to designate one director to our Board will continue as long as he or it and their affiliates collectively hold at least 600,000 shares of our common stock (including warrants exercisable for such shares). Immanuel Thangaraj is the designee of Essex. Investor has not designated a director as of the date of filing of this Report. Galen had not designated a director and lost that right in December 2017 when it disposed of its shares of common stock in the Company. Once such shareholder no longer holds such securities, the additional forfeited seat would become a seat for an independent director to thereafter be nominated to the Board of Directors from time to time by the then current directors and as applicable, to be elected by the directors to fill the vacancy created by the forfeited seat or submitted to the vote of shareholders at the Company’s next annual meeting. An independent director has not been named to fill the seat forfeited by Galen. During the period January 1, 2019 through June 27, 2019 we borrowed $650 thousand from Mr. Schutte. On June 28, 2019 we borrowed $726 thousand from Mr. Schutte and consolidated the loans in a single note along with the accrued interest (See Subsequent Event - Note 15).

EMPLOYEE BENEFIT PLAN	12 Months Ended
EMPLOYEE BENEFIT PLAN	Dec. 31, 2018
EMPLOYEE BENEFIT PLAN
EMPLOYEE BENEFIT PLAN	NOTE 9 – EMPLOYEE BENEFIT PLAN We have a 401(k) and Profit-Sharing Plan (the “Plan”) for our employees. Employees may elect to make a basic contribution of up to 80% of their annual earnings subject to certain regulatory restrictions on their total contribution. The Plan provides that the Company can make discretionary matching contributions along with a discretionary profit-sharing contribution. We did not contribute a matching contribution or a profit sharing contribution to the Plan during the years 2018 or 2017.

COMMON STOCK PURCHASE WARRANTS

12 Months Ended

Dec. 31, 2018

COMMON STOCK PURCHASE WARRANTS

COMMON STOCK PURCHASE WARRANTS

NOTE 10 – COMMON STOCK PURCHASE WARRANTS

Our warrant activity during the years ended December 31, 2018 and 2017 is shown below (in thousands except price data):


	December 31,
	2018			2017
		WAvg			WAvg
		Exercise			Exercise
	Number	Price		Number	Price
Outstanding, Jan. 1	1,842	$	0.59	60	$	2.52
Issued	—		—	1,782		0.53
Exercised	—		—	—		—
Expired	—		—	—		—
Modification	—		—	—		—
Outstanding, Dec. 31	1,842	$	0.59	1,842	$	0.59

In connection with the issuance of the $10.0 million secured promissory notes in December 2013, we issued 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. These warrants contain a cashless exercise feature (See Note 7).

As part of our July 2017 private placement transaction with Mr. Schutte, we issued warrants to purchase 1,782,531 shares of our common stock. The warrants are immediately exercisable at a price of $0.528 per share and expire five years after issuance (See Note 8). We have assigned a relative fair value of $495 thousand to the warrants out of the total $4.0 million proceeds from the private placement transaction and have accounted for these warrants as equity.

SHARE-BASED COMPENSATION EXPENSE

12 Months Ended

Dec. 31, 2018

SHARE-BASED COMPENSATION EXPENSE

SHARE-BASED COMPENSATION EXPENSE

NOTE 11 – SHARE-BASED COMPENSATION EXPENSE

Stock Option Plans

We maintain various stock option plans. A summary of our stock option plans as of December 31, 2018 and 2017 and for the year then ended consisted of the following (in thousands except exercise price):


	Year Ended December 31,
	2018			2017
		Weighted			Weighted
	Number	Average		Number	Average
	of	Exercise		of	Exercise
	Options	Price		Options	Price
Outstanding, Jan. 1	1,494	$	12.33	1,397	$	15.67
Granted	232		0.15	185		0.45
Exercised	—		—	(1)		0.92
Forfeited	(3)		0.56	—		—
Expired	(163)		42.75	(87)		7.02
Outstanding, Dec. 31	1,560	$	7.38	1,494	$	12.33
Exercisable, Dec. 31	1,328	$	8.64	1,224	$	14.92

The following table summarizes information about unvested stock options outstanding at December 31, 2018 (in thousands except price data):


	Number of		Weighted
	Options Not		Average Fair
	Exercisable		Value

Outstanding at Jan. 1, 2018	270	$	0.46
Granted	232		0.10
Vested	(267)		0.46
Forfeited	(3)		0.41
Outstanding at Dec. 31, 2018	232	$	0.10

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

The assumptions used in the Black-Scholes model to determine fair value for the 2018 and 2017 stock option grants were:


	2018			2017
Expected dividend yield		0.0	%		0.0	%
Risk-free interest rates		2.8	%		1.8	%
Average expected volatility		76	%		88	%
Expected term (years)		5			5
Weighted average grant date fair value	$	0.10		$	0.31

There was no intrinsic value contained in the stock option awards which vested and were outstanding at December 31, 2018. The total remaining unrecognized compensation cost on unvested option awards outstanding at December 31, 2018 was approximately $20 thousand, and is expected to be recognized in the Company’s operating expense in varying amounts over the next eleven months remaining in the requisite service period.

Restricted Stock Unit Award Plans

We have two Restricted Stock Unit Award Plans for our employees and non-employee directors, a 2017 Restricted Stock Unit Award Plan (the “2017 RSU Plan”) and a 2014 Restricted Stock Unit Award Plan (the “2014 RSU Plan”). Vesting of an RSU entitles the holder to receive a share of our common stock on a distribution date. Our non-employee director awards allow for non-employee directors to receive payment in cash, instead of stock, for up to 40% of each RSU award. The portion of the RSU awards subject to cash settlement are recorded as a liability in the Company’s consolidated balance sheet as they vest and being marked-to-market each reporting period until they are distributed. The liability was $11 thousand and $41 thousand at December 31, 2018 and 2017, respectively.

The compensation cost to be incurred on a granted RSU without a cash settlement option 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 and recorded to additional paid-in capital over the vesting period of the RSU award.

A summary of the grants under the RSU Plans as of December 31, 2018 and 2017, and for the year then ended consisted of the following (in thousands):


	Year Ended December 31,
	2018		2017
		Number of		Number of
	Number	Vested	Number of	Vested
	of RSUs	RSUs	RSUs	RSUs
Outstanding, Jan. 1	462	262	91	91
Granted	759	—	438	—
Distributed	(262)	(262)	(67)	(67)
Vested	—	459	—	238
Forfeited	(8)	—	—	—
Outstanding, Dec. 31	951	459	462	262

2017 Restricted Stock Unit Award Plan

Our 2017 RSU Plan was approved by shareholders in November 2017 and permits the grant of up to 1.5 million shares of our common stock pursuant to awards under the 2017 RSU Plan. As of December 31, 2018, approximately 552 thousand shares are available for award under the 2017 RSU Plan.

Information about the awards under the 2017 RSU Plan is as follows:

In December 2017, we awarded 200 thousand RSUs to our employees. Such RSU awards will vest 100% after one full year of service. Distributions of the vested RSU awards to the employees will be made in three equal installments on the first business day of each of January 2020, 2021, and 2022 or earlier upon a qualifying change of control.

In January 2018, we awarded approximately 67 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 2018. Settlement of this RSU award will occur on January 2, 2019, the first business day of the year after vesting. The portion of the RSU awards which are subject to cash settlement are also subject to marked-to market accounting having a liability recorded on the Company’s consolidated balance sheet with quarterly adjustments recorded to stock compensation expense in the general and administration operating category of our income statement.

In December 2018, we awarded 488 thousand RSUs to our employees. Such RSU awards will vest 100% after one full year of service. Distributions of the vested RSU awards to the employees will be made in three equal installments on the first business day of each of January 2021, 2022, and 2023 or earlier upon a qualifying change of control.

In January 2019, we awarded approximately 83 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 2019. Settlement of this RSU award will occur on January 2, 2020, the first business day of the year after vesting. The portion of the RSU awards which are subject to cash settlement will also be subject to marked-to market accounting having a liability recorded on the Company’s consolidated balance sheet with quarterly adjustments recorded to stock compensation expense in the general and administration operating category of our income statement.

Information about the distribution of shares under the 2017 RSU Plan is as follows:

In January 2019, 267 thousand RSUs were distributed and settled in common stock.

2014 Restricted Stock Unit Award Plan

Our 2014 RSU Plan was approved by shareholders in May 2014 and permits the grant of up to 400 thousand shares of our common stock pursuant to awards under the 2014 RSU Plan. As of December 31, 2018, there are no longer shares available for award under the 2014 RSU Plan.

Information about the awards under the 2014 RSU Plan during 2017 and 2018 is as follows:

In January 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 consolidated balance sheet as an estimate for such cash settlement was $41 thousand at December 31, 2017. The RSU award was settled on January 2, 2018.

In December 2018, we awarded 4 thousand RSUs to our employees. Such RSU awards will vest 100% after one full year of service. Distributions of the vested RSU awards to the employees will be made in three equal installments on the first business day of each of January 2021, 2022, and 2023 or earlier upon a qualifying change of control.

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

In January 2017, 1 thousand RSUs from the May 2014 award and 66 thousand RSUs from the January 2016 award were distributed. There were 1 thousand RSUs from the May 1 2014 award and 22 thousand RSUs from the January 2016 award which remained deferred until a future distribution date, which occurred on January 1, 2018. Of the 67 thousand RSUs distributed, 49 thousand RSUs were settled in common stock and 18 thousand RSUs were settled in cash.

In January 2018, 262 thousand RSUs from the 2014 RSU Plan were distributed. Of the approximately 262 thousand RSUs distributed, 238 thousand RSUs were settled in common stock and 24 thousand RSUs were settled in cash.

INCOME TAXES

12 Months Ended

Dec. 31, 2018

INCOME TAXES

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.

On December 22, 2017, the Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law making significant changes to the Internal Revenue Code. Changes include, but are not limited to, a corporate tax rate decrease from 35% to 21% effective for tax years beginning after December 31, 2017 and requiring adjustment to 2017 deferred taxes. The Company has calculated its best estimate of the impact of the Act in its 2017 year-end income tax provision in accordance with its understanding of the Act and guidance available as of that date and as a result had no adjustment to record as an additional income tax expense in the fourth quarter of 2017, the period in which the legislation was enacted.

On December 22, 2017, Staff Accounting Bulletin No. 118 ("SAB 118") was issued to address the application of US GAAP in situations when a registrant does not have the necessary information available, prepared, or analyzed (including computations) in reasonable detail to complete the accounting for certain income tax effects of the Act. In accordance with SAB 118, the Company remeasured its deferred tax assets and liabilities and adjusted its deferred tax balances to reflect the lower enacted U.S. corporate tax rate resulted in an income tax expense of $26.6 million which is included as a discrete item in the 2017 income tax provision. Overall, there was no impact to the tax provision as a result of the offsetting reduction of the valuation allowance. The period for determination of accounting implications of the 2017 Tax Act closed on December 22, 2018. The Company has completed their analysis and does not have any material true-ups on the positions taken in the prior year tax provision.

Provision for Income Taxes

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


	December 31,
	2018		2017
Benefit at U.S. statutory tax rate	$	(807)	$	(1,978)
State taxes (benefit), net of federal effect		(141)		(203)
State research and development tax credits		—		105
Federal research and development tax credits		(23)		(70)
Share-based compensation		22		116
Federal AMT tax credit		—		(135)
Other		17		(3)
Tax Cuts and Jobs Act of 2017		—		26,603
Change in valuation allowance		932		(24,570)
(Benefit) provision for income taxes	$	—	$	(135)

Deferred Tax Assets and Valuation Allowance

Deferred tax assets reflect the tax effects of net operating losses (“NOLs”), tax credit carryovers, and temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The most significant item of our deferred tax assets is derived from our Federal NOLs. We have approximately $171.8 million gross Federal NOLs at December 31, 2018 (of which approximately $167.7 million was generated prior to 2018). Because we believe the ability for us to use these NOLs generated prior to January 1, 2018 to offset any future taxable income is severely limited as prescribed under Internal Revenue Code (“IRC”) Section 382, we had estimated and recorded an amount for the likely limitation to our deferred tax asset in the fourth quarter of 2017, thereby reducing the aggregate estimated benefit of the Federal NOLs available to us of approximately $1.0 million at December 31, 2017. We believe the gross Federal NOL benefit we generated prior to January 1, 2018 to offset taxable income is less than $150 thousand annually. As prescribed under Internal Revenue Code, any unused Federal NOL benefit from the annual limitation can be accumulated and carried forward to the subsequent year and will expire if not used in accordance with the NOL carried forward term of 20 years or 2037, if generated before 2018 and Federal NOLs generated after 2017 can be carried forward indefinitely.Future common stock transactions, such as the exercise of common stock purchase warrants or the conversion of debt into common stock, may cause another qualifying event under IRC 382 which may further limit our utilization of our NOLs (See Subsequent Event - Note 15).

The components of our deferred tax assets are as follows (in thousands):


	December 31,
	2018		2017
Deferred tax assets:
Estimated future value of NOLs
- Federal	$	2,174	$	1,028
- State		862		1,276
Research and development tax credits
- Federal		1,184		1,231
- State		—		—
Share-based compensation		71		66
Other, net		151		203
Total deferred taxes		4,442		3,804
Valuation allowance		(4,442)		(3,804)
Net deferred tax assets	$	—	$	—

The realization of deferred income tax assets is dependent upon future earnings, if any, and the timing and amount of which may be uncertain. 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 December 31, 2018 and 2017, all our remaining net deferred income tax assets were offset by a valuation allowance due to uncertainties with respect to future utilization of 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.

Uncertainty in Income Taxes

We follow FASB’s statement regarding accounting for uncertainty in income taxes which defined the threshold for recognizing the benefits of tax-return positions in the consolidated financial statements as "more-likely-than-not" to be sustained by the taxing authorities. At each of December 31, 2018 and 2017, we had no liability for income tax associated with uncertain tax positions. If in the future we establish a contingent tax liability reserve related to uncertain tax positions, our practice will be to recognize the interest in interest expense and the penalties in other non-operating expense.

The Company files federal and state income tax returns and in the normal course of business the Company is subject to examination by these taxing authorities. As of December 31, 2018, the Company’s tax years of 2015, 2016 and 2017 are subject to examination by the taxing authorities. With few exceptions, we believe the Company is no longer subject to U.S. Federal, State and local examinations by taxing authorities for years before 2015.

NET LOSS PER SHARE

12 Months Ended

Dec. 31, 2018

NET LOSS PER SHARE

NET LOSS PER SHARE

NOTE 13 – NET LOSS PER SHARE

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


	Year Ended
	December 31,
	2018		2017
EPS – basic and diluted
Numerator: net loss	$	(3,842)	$	(5,682)
Denominator (weighted):
Common shares		21,033		15,790
Vested RSUs		113		113
Basic and diluted weighted average shares outstanding		21,146		15,903
EPS – basic and diluted	$	(0.18)	$	(0.36)
Excluded securities (non-weighted):
Common shares issuable:
Stock options – vested and nonvested		1,560		1,494
Nonvested RSUs		482		200
Common stock purchase warrants		1,842		1,842
Total excluded common shares		3,884		3,536

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Dec. 31, 2018
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 14 – COMMITMENTS AND CONTINGENCIES Reglan®/Metoclopramide Litigation Halsey Drug Company, as predecessor to us, was 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. None of the plaintiffs in the lawsuits filed to date have confirmed that they ingested any of the generic metoclopramide manufactured by us. We discontinued manufacture and distribution of generic metoclopramide more than 20 years ago. All of these lawsuits have been effectively dismissed with the exception of less than ten pending Philadelphia cases that we expect will be finally dismissed without the need for any action by us. We expect that the Court will finally dismiss the small number of remaining Pennsylvania-based cases against us with prejudice by the end of the fourth quarter of 2019. Legal fees related to this matter have been covered by our insurance carrier. Based upon the current status and evaluation, we have not accrued for any potential loss related to these matters as of December 31, 2018. 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 Zyla US, Inc. and its parent Zyla 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 Zyla 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, Zyla 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 Zyla Settlement Product (except generally in an action or interference by Acura or Zyla challenging a Purdue Patent). Acura Settlement Products and Zyla 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/Zyla Patents with respect to the Purdue Settlement Products (as defined below) and that Purdue provides Acura and/or Zyla certain waivers of non-patent marketing exclusivity with respect to Purdue Settlement Products. The Settlement Agreement also provides that Acura and Zyla will not, in the future, assert certain Acura and/or Zyla U.S. patents (the “Acura/Zyla Patents”), including Acura’s Aversion® Technology patents, against any Purdue Settlement Products (except generally in an action or interference by Purdue challenging an Acura/Zyla Patent). Purdue Settlement Products are certain immediate-release and extended-release products. In addition, the Settlement Agreement provides that Acura and Zyla will not challenge, with certain exceptions, the Purdue Patents with respect to the Acura Settlement Products and Zyla Settlement Products and that Acura and Zyla provide Purdue certain waivers of non-patent marketing exclusivity with respect to the Acura Settlement Products and Zyla Settlement Products. In addition, Purdue has certain rights to negotiate to exclusively distribute an authorized generic version of certain Zyla Settlement Products, including, in some circumstances, Oxaydo® and other products using Acura’s Aversion® Technology if licensed to Zyla. The Settlement Agreement specifically excludes our patents related to our Impede® and Limitx™ technologies from the scope of the Acura/Zyla Patents under the Settlement Agreement. In December 2014, the Company entered into an agreement with Purdue Pharma L.P. to settle a patent interference action regarding certain intellectual property held by Acura (U.S. Patent No. 8,101,630). The dispute centered upon the issue of which company has priority in developing the invention. The parties agreed to forgo protracted litigation and the uncertainties arising therefrom by entering an agreement whereby the Company conceded Purdue Pharma’s claim of priority in exchange for certain financial consideration to us including an immediate non-refundable payment of $500 thousand. In June 2015, the Company received an additional $250 thousand payment from Purdue Pharma relating to the December 2014 agreement. Zyla Agreement covering Oxaydo On January 7, 2015, we and Zyla entered into a Collaboration and License Agreement (the “Zyla 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 Zyla Agreement, we transferred the approved New Drug Application, or NDA, for Oxaydo to Zyla and Zyla 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 Zyla Agreement, we and Zyla have formed a joint steering committee to coordinate commercialization strategies and the development of product line extensions. Zyla is responsible for the fees and expenses relating to the Oxaydo NDA and product line extensions of Oxaydo, provided that Zyla 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 a post-marketing study for Oxaydo when required by the FDA and conducted by Zyla and (iii) expenses of clinical studies for product line extensions (additional strengths) of Oxaydo for the United States. Zyla will bear all of the expenses of development and regulatory approval of Oxaydo for sale outside the United States. Zyla is responsible for all manufacturing and commercialization activities in the Territory for Oxaydo. Subject to certain exceptions, Zyla will have final decision making authority with respect to all development and commercialization activities for Oxaydo, including pricing, subject to our co-promotion right. Zyla may develop Oxaydo for other countries and in additional strengths, in its discretion. At December 31, 2018 we have accrued approximately $237 thousand for potential cost sharing reimbursable expenses under the Zyla Agreement. Facility Lease The Company leases administrative office space in Palatine, Illinois on a month to month basis at the rate of approximately $2 thousand per month.

SUBSEQUENT EVENT

12 Months Ended

Dec. 31, 2018

SUBSEQUENT EVENT

SUBSEQUENT EVENT

NOTE 15 – SUBSEQUENT EVENT

Related Party Transaction - Debt

Related Party Transaction – License, Development and Commercialization Agreement with Abuse Deterrent Pharma, LLC

On June 28, 2019, we entered into a License, Development and Commercialization Agreement (the "Agreement") with Abuse Deterrent Pharma, LLC (“AD Pharma”), a special purpose company representing a consortium of investors that will finance Acura’s operations and completion of development of LTX-03 (hydrocodone bitartrate with acetaminophen) immediate-release tablets utilizing Acura’s patented LIMITx™ technology which addresses the consequences of excess oral administration of opioid tablets, the most prevalent route of opioid overdose and abuse. The Agreement grants AD Pharma exclusive commercialization rights in the United States to LTX-03. Financial arrangements include:

Monthly license payments to Acura by AD Pharma of $350,000 up to the earlier of 18 months or FDA’s acceptance of a New Drug Application (“NDA”) for LTX-03;

Reimbursement by AP Pharma of Acura’s LTX-03 outside development expenses;

Upon commercialization of LTX-03, Acura receives stepped royalties on sales and is eligible for certain sales related milestones; and

Acura authorizes MainPointe to assign to AD Pharma the option and the right to add, as an Option Product to the Nexafed® Agreement, a Nexafed® 12-hour dosage (an extended-release pseudoephedrine hydrochloride product utilizing the IMPEDE® Technology in 120mg dosage strength).

AD Pharma may terminate the Agreement at any time. Additionally, if the NDA for LTX-03 is not accepted by the FDA within 18 months, AD Pharma may terminate the Agreement and take ownership of the intellectual property. On July 2, 2019, we received the first monthly license payment of $350 thousand and have received subsequent monthly license payments in August 2019 and September 2019.

SUPPLEMENTARY DATA - QUARTERLY RESULTS OF OPERATION

12 Months Ended

Dec. 31, 2018

SUPPLEMENTARY DATA - QUARTERLY RESULTS OF OPERATIONS

SUPPLEMENTARY DATA - QUARTERLY RESULTS OF OPERATION

SUPPLEMENTARY DATA - QUARTERLY RESULTS OF OPERATIONS (Unaudited)

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


	For the Three Month Periods Ended
	Mar. 31,		June 30,		Sept. 30,		Dec. 31,
	2018		2018		2018		2018
Net revenues	$	198	$	76	$	73	$	63
Operating expenses		1,593		1,323		1,092		317

Operating loss		(1,395)		(1,247)		(1,019)		(254)
Net (loss) income	$	(1,494)	$	(1,261)	$	(1,095)	$	8

Basic loss per share	$	(0.07)	$	(0.06)	$	(0.05)	$	0.00
Diluted loss per share	$	(0.07)	$	(0.06)	$	(0.05)	$	0.00


	For the Three Month Periods Ended
	Mar. 31,		June 30,		Sept. 30,		Dec. 31,
	2017		2017		2017		2017
Net revenues	$	2,717	$	92	$	83	$	74
Operating expenses		2,135		2,083		2,145		1,828

Operating income (loss)		582		(1,991)		(2,062)		(1,754)
Net income (loss)	$	405	$	(2,149)	$	(2,200)	$	(1,738)

Basic income (loss) per share	$	0.03	$	(0.18)	$	(0.12)	$	(0.08)
Diluted income (loss) per share	$	0.03	$	(0.18)	$	(0.12)	$	(0.08)

Year to date earnings per share may not equal sum of quarters due to rounding.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2018

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Accounting

Use of Estimates

Concentration of Credit Risk

Cash and Cash Equivalents

Fair Value Measurements

Share-based Compensation Expense

We have several share-based compensation plans covering stock options and RSUs for our employees and directors, which are described more fully in Note 11.


	Year Ended
	December 31,
	2018		2017
Research and development expense:
Stock option awards	$	38	$	136
RSU awards		27		3
	$	65	$	139

Selling, marketing, general and administrative expense:
Stock option awards		61		203
RSU awards		104		156
	$	165	$	359

Total share-based compensation expense	$	230	$	498

Property, Plant and Equipment

Depreciation expense is recorded on a straight-line basis over the estimated useful lives of the related assets. The estimated useful lives of the major classification of depreciable assets are:


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

Intangible and Long-Lived Assets

License Fee Revenue

Collaboration Revenue

Royalty Revenue

Net Product Sales

Advertising and Shipping/Handling Costs

Deferred Debt Issuance Costs and Debt Discount

Research and Development Activities

We did not have prepaid CRO costs or prepaid clinical trial study expenses at December 31, 2018 and 2017. We did not have obligations under non-cancelable arrangements at December 31, 2018 and 2017.

Income Taxes

Basic and Diluted Net Loss Per Share

Basic and Diluted Net Loss per Share

Customer Concentration

Recent Accounting Pronouncements

Revenue from Contracts with Customers

Scope of Modification Accounting, Stock Based Compensation

Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments

Intra-Entity Transfers of Assets Other than Inventory

Statements of Cash Flows - Restricted Cash

Business Combinations – Clarifying the Definition of a Business

Simplification of Employee Share-Based Payment Accounting

Simplifying the Measurement of Inventory

New accounting standards which have not yet been adopted on or before December 31, 2018

Fair Value Measurements

Leases

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2018

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of Non-Cash Share-Based Compensation Expense


	Year Ended
	December 31,
	2018		2017
Research and development expense:
Stock option awards	$	38	$	136
RSU awards		27		3
	$	65	$	139

Selling, marketing, general and administrative expense:
Stock option awards		61		203
RSU awards		104		156
	$	165	$	359

Total share-based compensation expense	$	230	$	498

Schedule of Estimated Lives of Major Classification of Depreciable Assets

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


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

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)

12 Months Ended

Dec. 31, 2018

REVENUE FROM CONTRACTS WITH CUSTOMERS

Schedule of revenue from contracts with customers


	For the Year Ended
	December 31,
	2018		2017
		(in thousands)
Zyla	$	386	$	281
MainPointe		24		19
Royalty revenues	$	410	$	300

PROPERTY, PLANT AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2018

PROPERTY, PLANT AND EQUIPMENT

Schedule of Property, Plant and equipment

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


	December 31,
	2018		2017
Building and improvements	$	1,273	$	1,273
Scientific equipment		598		598
Computer hardware and software		107		107
Machinery and equipment		275		275
Land and improvements		162		162
Other personal property		70		70
Office equipment		27		27
		2,512		2,512
Less: accumulated depreciation		(1,906)		(1,833)
Total property, plant and equipment, net	$	606	$	679

ACCRUED EXPENSES (Tables)

12 Months Ended

Dec. 31, 2018

ACCRUED EXPENSES

Schedule of Accrued expenses

Accrued expenses are summarized as follows (in thousands):


	December 31,
	2018		2017
Cost sharing expenses under license agreements	$	237	$	328
Other fees and services		36		36
Payroll, payroll taxes and benefits		6		70
Professional services		132		149
Financed premiums on insurance policies		102		—
Clinical, non-clinical and regulatory services		63		326
Property taxes		7		16
Franchise taxes		13		14
Total	$	596	$	939

DEBT (Tables)

12 Months Ended

Dec. 31, 2018

DEBT

Schedule of Debt

Our debt at December 31, 2018 is summarized below (in thousands):


Debt	Current		Long-term		Total
Loan Due December 1, 2018
Balance at Jan. 1, 2018	$	2,740	$	—	$	2,740
Principal payments		(2,573)		—		(2,573)
Gain from debt extinguishment		(167)		—		(167)
Balance at Dec. 31, 2018	$	—	$	—	$	—

Related Party Loan Due January 2, 2020
Balance at Jan. 1, 2018	$	—	$	—	$	—
Principal borrowings		—		4,350		4,350
Balance at Dec. 31, 2018	$	—	$	4,350	$	4,350


Debt Discount, net	Current		Long-term		Total
Balance at Jan. 1, 2018	$	(32)	$	—	$	(32)
Additions		—		(172)		(172)
Amortization expense		28		46		74
Write-off on debt extinguishment		4		—		4
Balance at Dec. 31, 2018	$	—	$	(126)	$	(126)


Deferred Debt Issuance Costs, net	Current		Long-term		Total
Balance at Jan. 1, 2018	$	(14)	$	—	$	(14)
Amortization expense		13		—		13
Write-off on debt extinguishment		1		—		1
Balance at Dec. 31, 2018	$	—	$	—	$	—

Debt, net at Dec. 31, 2018	$	—	$	4,224	$	4,224

Schedule of Interest expense

Our debt interest expense for the twelve months ended December 31, 2018 and 2017 consisted of the following (in thousands):


	Year Ended
	December 31,
	2018		2017
Interest expense:
Fully paid term loan – due December 1, 2018	$	194	$	497
Related party term loans – due January 2, 2020		110		—
Debt discount		74		66
Debt issue costs		13		33
Financed insurance premiums		4		—
Total interest expense	$	395	$	596
Less: imputed interest income on related party loans		(172)		—
Less: interest income		—		(4)

Total interest expense, net	$	223	$	592

COMMON STOCK PURCHASE WARRANTS (Tables)

12 Months Ended

Dec. 31, 2018

COMMON STOCK PURCHASE WARRANTS

Schedule Of Common Stock Warrant Activity

Our warrant activity during the years ended December 31, 2018 and 2017 is shown below (in thousands except price data):


	December 31,
	2018			2017
		WAvg			WAvg
		Exercise			Exercise
	Number	Price		Number	Price
Outstanding, Jan. 1	1,842	$	0.59	60	$	2.52
Issued	—		—	1,782		0.53
Exercised	—		—	—		—
Expired	—		—	—		—
Modification	—		—	—		—
Outstanding, Dec. 31	1,842	$	0.59	1,842	$	0.59

SHARE-BASED COMPENSATION EXPENSE (Tables)

12 Months Ended

Dec. 31, 2018

SHARE-BASED COMPENSATION EXPENSE

Schedule of stock option plans

A summary of our stock option plans as of December 31, 2018 and 2017 and for the year then ended consisted of the following (in thousands except exercise price):


	Year Ended December 31,
	2018			2017
		Weighted			Weighted
	Number	Average		Number	Average
	of	Exercise		of	Exercise
	Options	Price		Options	Price
Outstanding, Jan. 1	1,494	$	12.33	1,397	$	15.67
Granted	232		0.15	185		0.45
Exercised	—		—	(1)		0.92
Forfeited	(3)		0.56	—		—
Expired	(163)		42.75	(87)		7.02
Outstanding, Dec. 31	1,560	$	7.38	1,494	$	12.33
Exercisable, Dec. 31	1,328	$	8.64	1,224	$	14.92

Summary of information about unvested stock options outstanding

The following table summarizes information about unvested stock options outstanding at December 31, 2018 (in thousands except price data):


	Number of		Weighted
	Options Not		Average Fair
	Exercisable		Value

Outstanding at Jan. 1, 2018	270	$	0.46
Granted	232		0.10
Vested	(267)		0.46
Forfeited	(3)		0.41
Outstanding at Dec. 31, 2018	232	$	0.10

Schedule of assumptions used in the Black-Scholes model to determine fair value

The assumptions used in the Black-Scholes model to determine fair value for the 2018 and 2017 stock option grants were:


	2018			2017
Expected dividend yield		0.0	%		0.0	%
Risk-free interest rates		2.8	%		1.8	%
Average expected volatility		76	%		88	%
Expected term (years)		5			5
Weighted average grant date fair value	$	0.10		$	0.31

Summary of the grants under the RSU Plans

A summary of the grants under the RSU Plans as of December 31, 2018 and 2017, and for the year then ended consisted of the following (in thousands):


	Year Ended December 31,
	2018		2017
		Number of		Number of
	Number	Vested	Number of	Vested
	of RSUs	RSUs	RSUs	RSUs
Outstanding, Jan. 1	462	262	91	91
Granted	759	—	438	—
Distributed	(262)	(262)	(67)	(67)
Vested	—	459	—	238
Forfeited	(8)	—	—	—
Outstanding, Dec. 31	951	459	462	262

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2018

INCOME TAXES

Schedule of Provision for Income Taxes

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


	December 31,
	2018		2017
Benefit at U.S. statutory tax rate	$	(807)	$	(1,978)
State taxes (benefit), net of federal effect		(141)		(203)
State research and development tax credits		—		105
Federal research and development tax credits		(23)		(70)
Share-based compensation		22		116
Federal AMT tax credit		—		(135)
Other		17		(3)
Tax Cuts and Jobs Act of 2017		—		26,603
Change in valuation allowance		932		(24,570)
(Benefit) provision for income taxes	$	—	$	(135)

Schedule of Components Of Deferred Tax Assets

The components of our deferred tax assets are as follows (in thousands):


	December 31,
	2018		2017
Deferred tax assets:
Estimated future value of NOLs
- Federal	$	2,174	$	1,028
- State		862		1,276
Research and development tax credits
- Federal		1,184		1,231
- State		—		—
Share-based compensation		71		66
Other, net		151		203
Total deferred taxes		4,442		3,804
Valuation allowance		(4,442)		(3,804)
Net deferred tax assets	$	—	$	—

NET LOSS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2018

NET LOSS PER SHARE

Schedule Of net loss per share of common stock of 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):


	Year Ended
	December 31,
	2018		2017
EPS – basic and diluted
Numerator: net loss	$	(3,842)	$	(5,682)
Denominator (weighted):
Common shares		21,033		15,790
Vested RSUs		113		113
Basic and diluted weighted average shares outstanding		21,146		15,903
EPS – basic and diluted	$	(0.18)	$	(0.36)
Excluded securities (non-weighted):
Common shares issuable:
Stock options – vested and nonvested		1,560		1,494
Nonvested RSUs		482		200
Common stock purchase warrants		1,842		1,842
Total excluded common shares		3,884		3,536

SUPPLEMENTARY DATA - QUARTERLY RESULTS OF OPERATION (Tables)

12 Months Ended

Dec. 31, 2018

SUPPLEMENTARY DATA - QUARTERLY RESULTS OF OPERATIONS

Schedule of quarterly consolidated financial data

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


	For the Three Month Periods Ended
	Mar. 31,		June 30,		Sept. 30,		Dec. 31,
	2018		2018		2018		2018
Net revenues	$	198	$	76	$	73	$	63
Operating expenses		1,593		1,323		1,092		317

Operating loss		(1,395)		(1,247)		(1,019)		(254)
Net (loss) income	$	(1,494)	$	(1,261)	$	(1,095)	$	8

Basic loss per share	$	(0.07)	$	(0.06)	$	(0.05)	$	0.00
Diluted loss per share	$	(0.07)	$	(0.06)	$	(0.05)	$	0.00


	For the Three Month Periods Ended
	Mar. 31,		June 30,		Sept. 30,		Dec. 31,
	2017		2017		2017		2017
Net revenues	$	2,717	$	92	$	83	$	74
Operating expenses		2,135		2,083		2,145		1,828

Operating income (loss)		582		(1,991)		(2,062)		(1,754)
Net income (loss)	$	405	$	(2,149)	$	(2,200)	$	(1,738)

Basic income (loss) per share	$	0.03	$	(0.18)	$	(0.12)	$	(0.08)
Diluted income (loss) per share	$	0.03	$	(0.18)	$	(0.12)	$	(0.08)

OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions				3 Months Ended								6 Months Ended	12 Months Ended
	Jun. 28, 2019	Jun. 02, 2019	Oct. 05, 2018	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Jun. 27, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 13, 2013
Cash, Cash Equivalent And Marketable Securities				$ 91									$ 91
Working Capital Deficit				974,000									974,000
Retained Earnings (Accumulated Deficit), Total				(384,222)				$ (380,380)					(384,222)	$ (380,380)
Operating Income (Loss), Total				(254)	$ (1,019)	$ (1,247)	$ (1,395)	(1,754)	$ (2,062)	$ (1,991)	$ 582		(3,915)	(5,225)
Net Income (Loss) Attributable to Parent, Total				8	$ (1,095)	$ (1,261)	$ (1,494)	(1,738)	$ (2,200)	$ (2,149)	$ 405		(3,842)	(5,682)
Proceeds from Issuance of Long-term Debt		$ 726	$ 1,800									$ 650	4,350	0
Debt Instrument, Face Amount															$ 10,000
Debt Instrument, Interest Rate, Stated Percentage															13.35%
Accrued interest				$ 110				$ 0					$ 110	$ 0
Subsequent Event [Member] \| Schutte [Member]
Proceeds from Issuance of Long-term Debt	$ 726											$ 650
Debt Instrument, Face Amount	$ 5,000
Debt Instrument, Interest Rate, Stated Percentage	7.50%
Aggregate principal of promissory notes and accrued interest	$ 6,000
Accrued interest	$ 274
Debt Conversion, Converted Instrument, Shares Issued	37.5
Share Price	$ 0.16
Debt Conversion, Converted Instrument, Warrants or Options Issued	10.0
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 0.01

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Non-Cash Share-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	$ 230	$ 498
Research and development expense [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	65	139
Research and development expense [Member] \| Stock options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	38	136
Research and development expense [Member] \| Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	27	3
Selling, marketing, general and administrative expense [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	165	359
Selling, marketing, general and administrative expense [Member] \| Stock options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	61	203
Selling, marketing, general and administrative expense [Member] \| Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	$ 104	$ 156

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Estimated Useful Lives of the Major Classification of Depreciable Assets (Details)	12 Months Ended
	Dec. 31, 2018
Building and Building Improvements [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	40 years
Building and Building Improvements [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Land and Improvements [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	40 years
Land and Improvements [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	20 years
Machinery and Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Machinery and Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	7 years
Scientific Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Scientific Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Computer Hardware and Software [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Computer Hardware and Software [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details) - USD ($) $ in Thousands		1 Months Ended	12 Months Ended
	Mar. 16, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Financing Receivable, Impaired [Line Items]
Asset Impairment Charges			$ 0	$ 0
Revenue From Royalty			410	300
Other Sale Revenues Net			0	59
Collaboration revenue			0	59
Royalty Receivable			137	71
Main Pointe Agreement [Member]
Financing Receivable, Impaired [Line Items]
Revenue From Royalty			$ 24	$ 19
Proceeds from License Fees Received		$ 2,500
Licensing Agreement, Royalty Percentage	7.50%
Royalty Revenue, Payment Method, Description	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.

LICENSE AND COMMERCIALIZATION AGREEMENTS (Details) - USD ($) $ in Thousands		1 Months Ended			12 Months Ended
	Oct. 09, 2015	Mar. 31, 2017	Oct. 31, 2016	Apr. 30, 2014	Dec. 31, 2018	Dec. 31, 2017
License Development and Commercialization Agreement [Line Items]
Amortization of Intangible Assets					$ 207	$ 207
Revenue From License Fee					0	2,500
Patents [Member]
License Development and Commercialization Agreement [Line Items]
Payment for Termination				$ 2,000
Zyla [Member]
License Development and Commercialization Agreement [Line Items]
Payment for Termination				$ 2,000
Amortization of Intangible Assets					207	$ 207
Finite-Lived Intangible Asset, Useful Life				9 years 8 months 12 days
Finite-Lived Intangible Assets, Amortization Expense, Year Two					$ 207
Proceeds from License Fees Received	$ 5,000
Proceeds from Milestone Payment On Agreement	$ 2,500
Minimum Net Sales Reaching Description					one-time $12.5 million sales-based milestone payment when worldwide Oxaydo net sales reach $150 million in a calendar year.
Main Pointe Agreement [Member]
License Development and Commercialization Agreement [Line Items]
Proceeds from License Fees Received		$ 2,500
Asset Transferred, License Agreement		$ 309
Licensing Agreement, Royalty Percentage		7.50%
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). Such Option Products include the product candidate Loratadine with pseudoephedrine. 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.
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
Additional Upfront Payment Receivable			$ 1,000

PROPERTY, PLANT AND EQUIPMENT (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Property, plant and equipment, Gross	$ 2,512	$ 2,512
Less: accumulated depreciation	(1,906)	(1,833)
Total property, plant and equipment, net	606	679
Building and Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, Gross	1,273	1,273
Scientific Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, Gross	598	598
Computer Hardware and Software [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, Gross	107	107
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, Gross	275	275
Land and Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, Gross	162	162
Other Personal Property [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, Gross	70	70
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, Gross	$ 27	$ 27

ACCRUED EXPENSES (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
ACCRUED EXPENSES
Cost sharing expenses under license agreements	$ 237	$ 328
Other fees and services	36	36
Payroll, payroll taxes and benefits	6	70
Professional services	132	149
Financed premiums on insurance policies	102
Clinical, non-clinical and regulatory services	63	326
Property taxes	7	16
Franchise taxes	13	14
Total	$ 596	$ 939

DEBT - Summary of Debt (Detail) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
DEBT - Summary of Debt (Detail) - USD ($) $ in Thousands	Oct. 31, 2018	Dec. 31, 2018	Dec. 31, 2017
Current
Gain from debt extinguishment	$ 296	$ 296	$ 0
Debt Discount, net
Balance at Jan. 1, 2018		(32)
Capitalized debt discount		(172)	0
Amortization expense		74
Write-off on debt extinguishment		4
Balance at Dec. 31, 2018		(126)	(32)
Deferred Debt Issuance Costs
Balance at Jan. 1, 2018		(14)
Amortization expense		13
Write-off on debt extinguishment		1
Balance at Dec. 31, 2018		0	(14)
Debt, net at Dec. 31, 2018		4,224
Related Party Loan Due January 2, 2020 [Member]
Current
Balance at Jan. 1, 2018		0
Borrowings		4,350
Balance at Dec. 31, 2018		4,350	0
Loan Due December 1, 2018 [Member]
Current
Balance at Jan. 1, 2018		2,740
Principal payments		(2,573)
Gain from debt extinguishment		(167)
Balance at Dec. 31, 2018		0	2,740
Long-term [Member]
Debt Discount, net
Balance at Jan. 1, 2018		0
Capitalized debt discount		(172)
Amortization expense		46
Write-off on debt extinguishment		0
Balance at Dec. 31, 2018		(126)	0
Deferred Debt Issuance Costs
Balance at Jan. 1, 2018		0
Amortization expense		0
Write-off on debt extinguishment		0
Balance at Dec. 31, 2018		0	0
Debt, net at Dec. 31, 2018		4,224
Long-term [Member] \| Related Party Loan Due January 2, 2020 [Member]
Current
Balance at Jan. 1, 2018		0
Borrowings		4,350
Balance at Dec. 31, 2018		4,350	0
Long-term [Member] \| Loan Due December 1, 2018 [Member]
Current
Balance at Jan. 1, 2018		0
Principal payments		0
Gain from debt extinguishment		0
Balance at Dec. 31, 2018		0	0
Current [Member]
Debt Discount, net
Balance at Jan. 1, 2018		(32)
Capitalized debt discount		0
Amortization expense		28
Write-off on debt extinguishment		4
Balance at Dec. 31, 2018		0	(32)
Deferred Debt Issuance Costs
Balance at Jan. 1, 2018		(14)
Amortization expense		13
Write-off on debt extinguishment		1
Balance at Dec. 31, 2018		0	(14)
Debt, net at Dec. 31, 2018		0
Current [Member] \| Related Party Loan Due January 2, 2020 [Member]
Current
Balance at Jan. 1, 2018		0
Borrowings		0
Balance at Dec. 31, 2018		0	0
Current [Member] \| Loan Due December 1, 2018 [Member]
Current
Balance at Jan. 1, 2018		2,740
Principal payments		(2,573)
Gain from debt extinguishment		(167)
Balance at Dec. 31, 2018		$ 0	$ 2,740

DEBT - Interest Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
DEBT - Interest Expense (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Interest expense:
Fully paid term loan - due December 1, 2018	$ 194	$ 497
Related party term loans - due January 2, 2020	110
Debt discount	74	66
Debt issue costs	13	33
Financed insurance premiums	4
Total interest expense	395	596
Less: imputed interest income on related party loans	(172)	0
Less: interest income		(4)
Total interest expense, net	$ 223	$ 592

DEBT - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands					1 Months Ended		6 Months Ended	9 Months Ended	12 Months Ended
	Sep. 28, 2019	Jun. 02, 2019	Dec. 31, 2018	Oct. 05, 2018	Oct. 31, 2018	Jan. 31, 2015	Jun. 27, 2019	Sep. 27, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2013	Dec. 13, 2013
Debt Instrument [Line Items]
Debt instrument principal amount												$ 10,000
Proceeds from Issuance of Long-term Debt		$ 726		$ 1,800			$ 650		$ 4,350	$ 0
Debt instrument, interest rate, stated percentage												13.35%
Debt Instrument, Maturity Date									Jan. 02, 2020
Debt instrument, fee amount			$ 50						$ 50
Gain (Loss) on Extinguishment of Debt					$ 296				296	0
Debt consulting placement fee									100
Debt related commitment fees and debt issuance costs									13	33
Debt instrument unamortized discount			126						126	32
Repayments of Debt									2,573	2,760
Additions To Debt Instrument Unamortized Discount			126
Debt Instrument, Increase, Accrued Interest			$ 110
Debt Instrument, Periodic Payment									$ 260
Debt Instrument, Interest Rate, Effective Percentage			10.16%						10.16%
Debt Instrument, Description of Variable Rate Basis									at prime plus 2.0%
Interest Payable, Current			$ 0						$ 0	$ 700
Term Loan [Member]
Debt Instrument [Line Items]
Debt related commitment fees and debt issuance costs									231
Schutte Note [Member]
Debt Instrument [Line Items]
Debt instrument principal amount			4,350						$ 4,350
Debt Instrument, Maturity Date									Jan. 02, 2020
Loan Agreement [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage											8.35%
Oxford Term Loan Agreement [Member]
Debt Instrument [Line Items]
Debt instrument principal amount			172						$ 172
Repayments of Debt				$ 1,500
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
Subsequent Event [Member] \| Schutte Note [Member]
Debt Instrument [Line Items]
Proceeds from Issuance of Long-term Debt	$ 726							$ 650
Warrant [Member]
Debt Instrument [Line Items]
Debt instrument unamortized discount			$ 400						$ 400
Warrants to purchase common stock			60						60
Class of Warrant or Right, Exercise Price of Warrants or Rights			$ 2.52						$ 2.52
Warrants, expiry date									December 27, 2020
Additions To Debt Instrument Unamortized Discount						$ 33

RELATED PARTY TRANSACTIONS- Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands					1 Months Ended		6 Months Ended	9 Months Ended	12 Months Ended
	Sep. 28, 2019	Jun. 28, 2019	Jun. 02, 2019	Oct. 05, 2018	Jul. 31, 2017	Mar. 31, 2017	Jun. 27, 2019	Sep. 27, 2019	Dec. 31, 2018	Dec. 31, 2017
Class Of Warrants Or Rights, Expiry Period					5 years
Number Of Common Stock Need To Hold To Designate As Director					600,000
Royalty Receivable									$ 137	$ 71
Proceeds from Issuance of Long-term Debt			$ 726	$ 1,800			$ 650		4,350	0
Schutte Note [Member] \| Subsequent Event [Member]
Proceeds from Issuance of Long-term Debt	$ 726							$ 650
Investor [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights					$ 0.528
Schutte [Member] \| Subsequent Event [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 0.01
Proceeds from Issuance of Long-term Debt		$ 726					$ 650
Private Placement [Member] \| Investor [Member]
Sale of Stock, Consideration Received on Transaction					$ 4,000
Sale of Stock, Number of Shares Issued in Transaction					8,912,655
Sale of Stock, Price Per Share					$ 0.4488
Sale Of Stock, Issue Price Description					85%
Class of Warrant or Right, Exercise Price of Warrants or Rights					$ 0.528
Warrants Not Settleable in Cash, Fair Value Disclosure									495
Main Pointe Agreement [Member]
Proceeds from License Fees Received						$ 2,500
Asset Transferred, License Agreement						$ 309
Licensing Agreement, Royalty Percentage						7.50%
Royalty Receivable									$ 24	$ 19

COMMON STOCK PURCHASE WARRANTS - Schedule Of Common Stock Warrant Activity (Details) - Warrant [Member] - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Number of Options
Number of Options Outstanding, beginning	1,842	60
Number of Options, Issued	0	1,782
Number of Options, Exercised	0	0
Number of Options, Expired	0	0
Number of Options, Modification	0	0
Number of Options Outstanding, ending	1,842	1,842
Weighted Average Exercise Price
Weighted Average Exercise Price, beginning	$ 0.59	$ 2.52
Weighted Average Exercise Price,Issued	0.00	0.53
Weighted Average Exercise Price, Exercised	0.00	0.00
Weighted Average Exercise Price, Expired	0.00	0.00
Weighted Average Exercise Price, Modification	0.00	0.00
Weighted Average Exercise Price, ending	$ 0.59	$ 0.59

COMMON STOCK PURCHASE WARRANTS - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Jul. 31, 2017	Dec. 31, 2018	Dec. 31, 2013
Class of Warrant or Right [Line Items]
Secured Debt			$ 10,000
Stock Issued During Period, Value, New Issues	$ 4,000
Class Of Warrant Or Right Term		5 years
Investor [Member]
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 0.528
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	1,782,531
Investor [Member] \| Private Placement [Member]
Class of Warrant or Right [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 0.528
Warrant [Member]
Class of Warrant or Right [Line Items]
Common stock warrant exercisable outstanding, shares		60,000
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 2.52
Warrant [Member] \| Private Placement [Member]
Class of Warrant or Right [Line Items]
Stock Issued During Period, Value, New Issues	$ 495

SHARE-BASED COMPENSATION EXPENSE - Stock Option Award Activity (Details) - Stock Option Plan [Member] - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Share based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options Outstanding, beginning	1,494	1,397
Number of Options, Granted	232	185
Number of Options, Exercised	0	(1)
Number of Options, Forfeited	(3)	0
Number of Options, Expired	(163)	(87)
Number of Options Outstanding, ending	1,560	1,494
Number of Options exercisable	1,328	1,224
Weighted Average Exercise Price, beginning	$ 12.33	$ 15.67
Weighted Average Exercise Price, Granted	0.15	0.45
Weighted Average Exercise Price, Exercised	0.00	0.92
Weighted Average Exercise Price, Forfeited	0.56	0.00
Weighted Average Exercise Price, Expired	42.75	7.02
Weighted Average Exercise Price, ending	7.38	12.33
Weighted Average Exercise Price, Options exercisable	$ 8.64	$ 14.92

SHARE-BASED COMPENSATION EXPENSE - Summary of Information about Non Vested Stock Options (Details) - Non Vested Stock Options [Member] shares in Thousands	12 Months Ended
	Dec. 31, 2018 $ / shares shares
Summary Of Information About Non Vested Stock Options Disclosure [Line Items]
Outstanding, beginning \| shares	270
Granted \| shares	232
Vested \| shares	(267)
Forfeited \| shares	(3)
Outstanding, ending \| shares	232
Outstanding beginning, Weighted Average Fair Value \| $ / shares	$ 0.46
Granted, Weighted Average Fair Value \| $ / shares	0.10
Vested, Weighted Average Fair Value \| $ / shares	0.46
Forfeited, Weighted Average Fair Value \| $ / shares	0.41
Outstanding ending, Weighted Average Fair Value \| $ / shares	$ 0.10

SHARE-BASED COMPENSATION EXPENSE - Assumptions Used in Black-Scholes Model to Determine Fair Value for Stock Option Awards Granted (Details) - Stock Option [Member] - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Share based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield	0.00%	0.00%
Risk-free interest rates	2.80%	1.80%
Average expected volatility	76.00%	88.00%
Expected term (years)	5 years	5 years
Weighted average grant date fair value	$ 0.10	$ 0.31

SHARE-BASED COMPENSATION EXPENSE - Summary of RSU Plan (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Restricted Stock Units [Member]
Share based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, beginning	462	91
Granted	759	438
Distributed	(262)	(67)
Vested	0	0
Forfeited or expired	(8)	0
Outstanding, ending	951	462
Vested Restricted Stock Units (RSUs) [Member]
Share based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, beginning	262	91
Granted	0	0
Distributed	(262)	(67)
Vested	459	238
Forfeited or expired	0	0
Outstanding, ending	459	262

SHARE-BASED COMPENSATION EXPENSE - Additional Information (Details) - USD ($) shares in Thousands	1 Months Ended						12 Months Ended
	Jan. 31, 2019	Dec. 31, 2018	Jan. 31, 2018	Dec. 31, 2017	Jan. 31, 2017	May 31, 2014	Dec. 31, 2018	Nov. 30, 2017
Employee Benefit Plans Disclosure [Line Items]
Unrecognized compensation cost on unvested option awards outstanding		$ 20,000					$ 20,000
Share Based Compensation Arrangement Share Based Payment Shares Reserved For Future Distribution						1
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value		0					0
Restricted Stock Units (RSUs) \| Non-employee director
Employee Benefit Plans Disclosure [Line Items]
Deferred Compensation Arrangement with Individual, Recorded Liability		$ 11,000		$ 41,000			$ 11,000
Share Based Compensation, Non Employee Services Transaction,Cash Settlement, Percentage							40.00%
Restricted Stock Award Plan
Employee Benefit Plans Disclosure [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant		552					552
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross					60
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		100.00%	25.00%	100.00%	25.00%
Share-based Compensation Arrangement by Share-based Payment Award, Description			stock, for up to 40%		stock, for up to 40%
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized								1,500
Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Grants In Period		488	67	200
Stock issued during period shares stock options exercised net of shares for tax withholdings			262
Restricted Stock Award Plan \| Settled In Cash [Member]
Employee Benefit Plans Disclosure [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period					18
Stock issued during period shares stock options exercised net of shares for tax withholdings			24
Restricted Stock Award Plan \| 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
Restricted Stock Award Plan \| January 4, 2016 Award Distributed [Member]
Employee Benefit Plans Disclosure [Line Items]
Share Based Compensation Arrangement Share Based Payment Shares Reserved For Future Distribution					66
Restricted Stock Award Plan \| Convertible Common Stock [Member]
Employee Benefit Plans Disclosure [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period					49
Stock issued during period shares stock options exercised net of shares for tax withholdings			238
Restricted Stock Award Plan \| Four Non Employee Directors [Member]
Employee Benefit Plans Disclosure [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross					22
Deferred Compensation Arrangement with Individual, Recorded Liability				$ 41,000
Restricted Stock Award Plan \| Subsequent Event [Member]
Employee Benefit Plans Disclosure [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	25.00%
Share-based Compensation Arrangement by Share-based Payment Award, Description	stock, for up to 40%
Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Grants In Period	83
Restricted Stock Award Plan \| Subsequent Event [Member] \| Distributed And Settled In Common Stock [Member]
Employee Benefit Plans Disclosure [Line Items]
Share Based Compensation Arrangement Share Based Payment Shares Reserved For Future Distribution	267
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, Shares Purchased for Award							0
Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Grants In Period		4

INCOME TAXES (Details) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
INCOME TAXES
Benefit at U.S. statutory tax rate	$ (807)	$ (1,978)
State taxes (benefit), net of federal effect	(141)	(203)
State research and development tax credits	0	105
Federal research and development tax credits	(23)	(70)
Share-based compensation	22	116
Federal AMT tax credit	0	(135)
Other	17	(3)
Tax Cuts and Jobs Act of 2017	0	26,603
Change in valuation allowance	932	(24,570)
(Benefit) provision for income taxes	$ 0	$ (135)

INCOME TAXES - Components of Our Deferred Tax Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Estimated future value of NOLs
- Federal	$ 2,174	$ 1,028
- State	862	1,276
Research and development tax credits
- Federal	1,184	1,231
- State	0	0
Share-based compensation	71	66
Other, net	151	203
Total deferred taxes	4,442	3,804
Valuation allowance	(4,442)	(3,804)
Net deferred tax assets	$ 0	$ 0

INCOME TAXES - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
INCOME TAXES
Federal NOLs	$ 171,800	$ 167,700
U.S. statutory tax rate	21.00%	35.00%
State income tax benefits	$ 1,000
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount	$ 0	$ 26,603
Operating Loss Carryforwards, Expiration Term	20 years
Tax Credit Carryforward, Amount	$ 150

NET LOSS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
EPS - basic and diluted
Numerator: net loss	$ 8	$ (1,095)	$ (1,261)	$ (1,494)	$ (1,738)	$ (2,200)	$ (2,149)	$ 405	$ (3,842)	$ (5,682)
Denominator (weighted):
Common shares									21,033	15,790
Vested RSUs									113	113
Basic and diluted weighted average shares outstanding									21,146	15,903
EPS - basic and diluted									$ (0.18)	$ (0.36)
Common stock issuable (non weighted):
Total excluded common shares									3,884	3,536
Stock options [Member]
Common stock issuable (non weighted):
Total excluded common shares									1,560	1,494
Warrant [Member]
Common stock issuable (non weighted):
Total excluded common shares									1,842	1,842
Restricted Stock Units (RSUs)
Common stock issuable (non weighted):
Total excluded common shares									482	200

SUBSEQUENT EVENT (Details) - USD ($) $ / shares in Units, shares in Millions				6 Months Ended	12 Months Ended
	Jun. 28, 2019	Jun. 02, 2019	Oct. 05, 2018	Jun. 27, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 13, 2013
Subsequent Event [Line Items]
Proceeds from Issuance of Long-term Debt		$ 726,000	$ 1,800,000	$ 650,000	$ 4,350,000	$ 0
Debt Instrument, Maturity Date					Jan. 02, 2020
Debt Instrument, Face Amount							$ 10,000,000
Debt Instrument, Interest Rate, Stated Percentage							13.35%
Accrued interest					$ 110,000	$ 0
Subsequent Event [Member] \| Schutte [Member]
Subsequent Event [Line Items]
Proceeds from Issuance of Long-term Debt	$ 726,000			$ 650,000
Debt Instrument, Face Amount	$ 5,000,000
Debt Instrument, Interest Rate, Stated Percentage	7.50%
Aggregate principal of promissory notes and accrued interest	$ 6,000,000
Accrued interest	$ 274,000
Debt Conversion, Converted Instrument, Shares Issued	37.5
Share Price	$ 0.16
Debt Conversion, Converted Instrument, Warrants or Options Issued	10.0
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 0.01
Subsequent Event [Member] \| Abuse Deterrent Pharma [Member]
Subsequent Event [Line Items]
Proceeds from License Fees Received	$ 350,000	$ 350,000

SUPPLEMENTARY DATA - QUARTERLY RESULTS OF OPERATIONS (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
SUPPLEMENTARY DATA - QUARTERLY RESULTS OF OPERATIONS
Net revenues	$ 63	$ 73	$ 76	$ 198	$ 74	$ 83	$ 92	$ 2,717	$ 410	$ 2,966
Operating expenses	317	1,092	1,323	1,593	1,828	2,145	2,083	2,135	4,325	8,191
Operating income (loss)	(254)	(1,019)	(1,247)	(1,395)	(1,754)	(2,062)	(1,991)	582	(3,915)	(5,225)
Net income (loss)	$ 8	$ (1,095)	$ (1,261)	$ (1,494)	$ (1,738)	$ (2,200)	$ (2,149)	$ 405	$ (3,842)	$ (5,682)
Basic income (loss) per share	$ 0.00	$ (0.05)	$ (0.06)	$ (0.07)	$ (0.08)	$ (0.12)	$ (0.18)	$ 0.03	$ (0.18)	$ (0.36)
Diluted income (loss) per share	$ 0.00	$ (0.05)	$ (0.06)	$ (0.07)	$ (0.08)	$ (0.12)	$ (0.18)	$ 0.03	$ (0.18)	$ (0.36)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

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-Name Accounting Standards Codification
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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

EMPLOYEE BENEFIT PLAN - Additional Information (Details)	12 Months Ended
	Dec. 31, 2018
Four Zero One K and Profit Sharing Plan [Member]
Maximum Basic Contribution Percentage Per Employee On Annual Earnings	80.00%

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2018	Dec. 31, 2014
Commitments and Contingencies Disclosure [Line Items]
Accrued Cost Sharing Expenses Clinical Studies		$ 237
Purdue Pharma [Member]
Commitments and Contingencies Disclosure [Line Items]
Litigation Settlement, Expense	$ 250		$ 500
Palatine Illinois
Commitments and Contingencies Disclosure [Line Items]
Litigation Settlement, Expense		$ 2

REVENUE FROM CONTRACTS WITH CUSTOMERS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Royalty revenues	$ 410	$ 300
Zyla [Member]
Disaggregation of Revenue [Line Items]
Royalty revenues	386	281
Main Pointe Agreement [Member]
Disaggregation of Revenue [Line Items]
Royalty revenues	$ 24	$ 19