Biodelivery Sciences International (BDSI) 10-Q 10 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 07, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Trading Symbol	BDSI
Entity Registrant Name	BIODELIVERY SCIENCES INTERNATIONAL INC
Entity Central Index Key	1,103,021
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		52,461,435

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 67,655	$ 70,472
Accounts receivable, net	1,526	3,141
Inventory	1,533	1,828
Prepaid expenses and other current assets	2,749	2,882
Total current assets	73,463	78,323
Property and equipment, net	4,305	3,890
Goodwill	2,715	2,715
Other intangible assets, net	3,741	4,226
Other assets	684	157
Total assets	84,908	89,311
Current liabilities:
Accounts payable and accrued liabilities	12,263	14,429
Notes payable, current maturities	1,000	8,000
Deferred revenue, current	7,247	6,772
Total current liabilities	20,510	29,201
Notes payable, less current maturities, net	28,653	4,173
Deferred revenue, long-term		841
Other long-term liabilities	825	700
Total liabilities	$ 49,988	$ 34,915
Commitments and contingencies (Notes 6 and 10)
Stockholders' equity:
Preferred Stock, $.001 par value; 5,000,000 shares authorized; 2,093,155 and 2,139,000 shares of Series A Non-Voting Convertible Preferred Stock outstanding at June 30, 2015 and December 31, 2014, respectively.	$ 2	$ 2
Common Stock, $.001 par value; 75,000,000 shares authorized; 52,436,926 and 51,603,070 shares issued; 52,421,435 and 51,587,579 shares outstanding at June 30, 2015 and December 31, 2014, respectively	53	52
Additional paid-in capital	267,847	259,920
Treasury stock, at cost, 15,491 shares	(47)	(47)
Accumulated deficit	(232,935)	(205,531)
Total stockholders' equity	34,920	54,396
Total liabilities and stockholders' equity	$ 84,908	$ 89,311

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Preferred Stock, par value	$ 0.001	$ 0.001
Preferred Stock, shares authorized	5,000,000	5,000,000
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, shares authorized	75,000,000	75,000,000
Common Stock, shares issued	52,436,926	51,603,070
Common Stock, shares outstanding	52,421,435	51,587,579
Treasury stock, shares	15,491	15,491
Series A Non-Voting Convertible Preferred Stock [Member]
Preferred Stock, shares outstanding	2,093,155	2,139,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenues:
Product sales	$ 833		$ 1,510
Product royalty revenues	469	$ 892	663	$ 1,846
Research and development reimbursements	80	2,318	855	10,770
Contract revenues	351	10,675	11,759	21,959
Total Revenues:	1,733	13,885	14,787	34,575
Cost of sales	2,621	687	3,745	1,413
Expenses:
Research and development	4,506	7,983	11,054	22,606
General and administrative	13,287	7,256	26,468	11,884
Total Expenses:	17,793	15,239	37,522	34,490
Loss from operations	(18,681)	(2,041)	(26,480)	(1,328)
Interest expense, net	(527)	(519)	(947)	(1,074)
Derivative loss		(4,120)		(8,946)
Other (expense) income, net	(3)	9	23	32
Net loss	$ (19,211)	$ (6,671)	$ (27,404)	$ (11,316)
Basic and diluted loss per share:	$ (0.37)	$ (0.14)	$ (0.53)	$ (0.24)
Weighted average common stock shares outstanding:	52,401,747	48,521,351	52,156,657	46,290,712

Condensed Consolidated Stateme5

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - 6 months ended Jun. 30, 2015 - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Treasury Stock [Member]	Accumulated Deficit [Member]	Series A Preferred Stock [Member]
Beginning Balance at Dec. 31, 2014	$ 54,396	$ 52	$ 259,920	$ (47)	$ (205,531)	$ 2
Beginning Balance, shares at Dec. 31, 2014		51,603,070				2,139,000
Stock-based compensation	7,658		7,658
Restricted stock awards		$ 1	(1)
Restricted stock awards, shares		712,677
Exercise of stock options	$ 303		303
Exercise of stock options, shares	75,050	75,050
Exercise of warrants	$ 1		1
Exercise of warrants, shares		284
Short swing profit return	6		6
Conversion of preferred shares to common shares	0	$ 0	0	0	0	$ 0
Conversion of preferred shares to common shares, shares		45,845				(45,845)
Equity financing costs	(40)		(40)
Net loss	(27,404)				(27,404)
Ending Balance at Jun. 30, 2015	$ 34,920	$ 53	$ 267,847	$ (47)	$ (232,935)	$ 2
Ending Balance, shares at Jun. 30, 2015		52,436,926				2,093,155

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Operating activities:
Net loss	$ (27,404)	$ (11,316)
Depreciation	167	25
Accretion of debt discount	278	321
Amortization of intangible assets	485	485
Derivative loss		8,946
Stock-based compensation expense	7,658	2,479
Changes in assets and liabilities:
Accounts receivable	1,614	(9,846)
Inventories	295	(795)
Prepaid expenses and other assets	133	30
Accounts payable and accrued expenses	(2,210)	(602)
Deferred revenue	(366)	1,535
Net cash flows from operating activities	(19,350)	(8,738)
Investing activities:
Purchase of equipment	(583)	(1,020)
Net cash flows from investing activities	(583)	(1,020)
Financing activities:
Proceeds from sales of securities		62,037
Equity financing costs	(40)
Proceeds from exercise of stock options	303	2,833
Proceeds from exercise of common stock warrants	1	3,994
Payment on note payable	(3,335)	(4,000)
Proceeds from notes payable	20,667
Payment of deferred financing fees	(486)
Return of short swing profits	6	82
Net cash flows from financing activities	17,116	64,946
Net change in cash and cash equivalents	(2,817)	55,188
Cash and cash equivalents at beginning of year	70,472	23,176
Cash and cash equivalents at end of year	67,655	78,364
Cash paid for interest	$ 491	$ 824

Organization, Basis of Presenta

Organization, Basis of Presentation and Summary of Significant Policies	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Organization, Basis of Presentation and Summary of Significant Policies	1. Organization, basis of presentation and summary of significant policies: Overview BioDelivery Sciences International Inc., together with its subsidiaries (collectively, the “Company” or “BDSI”) is a specialty pharmaceutical company that is leveraging its novel and proprietary patented drug delivery technologies to develop and commercialize, either on its own or in partnerships with third parties, new applications of proven therapeutics. The Company is focusing on developing products to meet unmet patient needs in the areas of pain management and addiction. The accompanying unaudited condensed consolidated financial statements include all adjustments (consisting of normal and recurring adjustments) necessary for a fair presentation of these financial statements. The condensed consolidated balance sheet at December 31, 2014 has been derived from the Company’s audited consolidated financial statements included in its annual report on Form 10-K for the year ended December 31, 2014. Certain footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) have been condensed or omitted pursuant to the Securities and Exchange Commission (“SEC”) rules and regulations. It is suggested that these condensed consolidated financial statements be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2014. The Company has reclassified certain amounts within expenses in the Statements of Operations for the three and six month periods ended June 30, 2014 to conform to the current year presentation. These reclassifications had no effect on the measurement of total expenses, loss from operations, or net loss. We also made certain reclassifications in a footnote table for the year ending December 31, 2014 to conform to the current period presentation. Operating results for the three and six month period ended June 30, 2015 are not necessarily indicative of results for the full year or any other future periods. As used herein, the Company’s common stock, par value $.001 per share, is referred to as the “Common Stock”. Use of estimates in financial statements The preparation of the accompanying condensed consolidated financial statements requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and assumptions. Inventory Inventories are stated at the lower of cost or market value with costs determined on the first-in, first-out method. Inventory consists of raw materials, work in process and finished goods. Raw materials include active pharmaceutical ingredient for a product to be manufactured, work in process includes the bulk inventory of laminate prior to being packaged for sale, and finished goods include pharmaceutical products ready for commercial sale. On a quarterly basis, the Company analyzes its inventory levels and records allowances for inventory that has become obsolete, inventory that has a cost basis in excess of the expected net realizable value and inventory that is in excess of expected demand based upon projected product sales. There were no allowances recorded at June 30, 2015. Deferred revenue Consistent with the Company’s revenue recognition policy, deferred revenue represents cash received in advance for licensing fees, consulting, research and development services, related supply agreements and product sales. Such payments are reflected as deferred revenue until recognized under the Company’s revenue recognition policy. Deferred revenue is classified as current if management believes the Company will be able to recognize the deferred amount as revenue within twelve months of the balance sheet date. Revenue recognition Product Sales ® As of June 30, 2015 and December 31, 2014, the Company had $1.2 million and $0.8 million of deferred revenue related to sales of BUNAVAIL ® Product Returns ® Rebates- Price Adjustments and Chargebacks The Company, from time to time, offers certain promotional product-related incentives to its customers. These programs include certain product incentives to pharmacy customers and other sales stocking allowances. The Company has voucher programs for BUNAVAIL ® Prompt Payment Discounts Deferred Cost of Sales The Company defers its cost of sales in connection with BUNAVAIL ® Cost of Sales The cost of sales attributable to the production of BUNAVAIL ® ® The cost of sales attributable to the production of ONSOLIS ® Recent accounting pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2014-09, “Revenue from Contracts with Customers,” which supersedes the revenue recognition requirements of Accounting Standards Codification (“ASC”) Topic 605, “Revenue Recognition” and most industry-specific guidance on revenue recognition throughout the ASC. The new standard is principles-based and provides a five step model to determine when and how revenue is recognized. The core principle of the new standard is that revenue should be recognized when a company transfers promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. The new standard also requires disclosure of qualitative and quantitative information surrounding the amount, nature, timing and uncertainty of revenues and cash flows arising from contracts with customers. In July 2015, the FASB agreed to defer the effective date of the standard from January 1, 2017, to January 1, 2018, with an option that permits companies to adopt the standard as early as the original effective date. Early application prior to the original effective date is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting.

Liquidity and Management's Plan

Liquidity and Management's Plans	6 Months Ended
	Jun. 30, 2015
Text Block [Abstract]
Liquidity and Management's Plans	2. Liquidity and management’s plans: At June 30, 2015, the Company had cash and cash equivalents of approximately $67.7 million. The Company used $19.4 million of cash from operations during the six months ended June 30, 2015 and had stockholders’ equity of $34.9 million, versus $54.4 million at December 31, 2014. The Company expects that it has sufficient cash to manage the business into mid 2016, although this assumes that the Company does not accelerate the development of other opportunities available to the Company or otherwise face unexpected events, costs or contingencies, any of which could affect the Company’s cash requirements. This expectation does not account for the potential receipt by the Company of up to a $50 million milestone payment from Endo Pharmaceutical, its commercial partner for BELBUCA™, should that product be approved by the U.S. Food and Drug Administration (“FDA”). See note 6. Additional capital will likely be required to support the Company’s ongoing commercialization activities for BUNAVAIL ® ®

Inventory

Inventory	6 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Inventory	3. Inventory: The following table represents the components of inventory as of: June 30, 2015 December 31, 2014 Raw materials & supplies $ 424 $ 544 Work-in-process 497 523 Finished goods 612 761 Total inventories $ 1,533 $ 1,828

Accounts Payable and Accrued Li

Accounts Payable and Accrued Liabilities	6 Months Ended
	Jun. 30, 2015
Payables and Accruals [Abstract]
Accounts Payable and Accrued Liabilities	4. Accounts payable and accrued liabilities: The following table represents the components of accounts payable and accrued liabilities as of: June 30, 2015 December 31, 2014 Accounts payable $ 7,670 $ 9,072 Accrued price adjustments 1,685 1,094 Accrued rebates 332 231 Accrued chargebacks 34 14 Accrued compensation and benefits 1,053 945 Accrued royalties 445 770 Accrued other 1,044 2,303 Total accounts payable and accrued expenses $ 12,263 $ 14,429

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Property and Equipment	5. Property and Equipment: Property and equipment, summarized by major category, consist of the following as of: June 30, 2015 December 31, 2014 Idle equipment $ 4,971 $ 4,432 Machinery & equipment 570 680 Computer equipment & software 373 344 Office furniture & equipment 190 110 Leasehold improvements 53 9 Total 6,157 5,575 Less accumulated depreciation (1,852 ) (1,685 ) Total property, plant & equipment, net $ 4,305 $ 3,890 Depreciation expense for the six month periods ended June 30, 2015 and June 30, 2014, was approximately $0.2 million and $0.02 million, respectively. Depreciation expense for the three month periods ended June 30, 2015 and June 30, 2014, was approximately $0.1 million and $0.01 million, respectively.

License and Development Agreeme

License and Development Agreements	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
License and Development Agreements	6. License and Development Agreements: The Company periodically enters into license and development agreements to develop and commercialize its products. The arrangements typically are multi-deliverable arrangements that are funded through upfront payments, milestone payments, royalties and other forms of payment to the Company. The Company’s most significant license and development agreements are as follows: Meda License, Development and Supply Agreements In August 2006 and September 2007, the Company entered into certain agreements with Meda AB (“Meda”), a Swedish company to develop and commercialize the Company’s ONSOLIS ® ® On March 12, 2012, the Company announced the postponement of the U.S. re-launch of ONSOLIS ® ® ® The Company determined that, upon inception of both the U.S. and EU Meda arrangements, all deliverables were considered one combined unit of accounting. As such, all cash payments from Meda that were related to these deliverables were initially recorded as deferred revenue. Upon commencement of the license term (date of first commercial sale in each territory), the license and certain deliverables associated with research and development services were delivered to Meda. The first commercial sale in the U.S. occurred in October 2009. As a result, $59.7 million of the aggregate milestones and services revenue was recognized as revenue in fiscal year 2009. On January 27, 2015, the Company announced that it had entered into an assignment and revenue sharing agreement with Meda to return to the Company the marketing authorization for ONSOLIS ® ® Endo License and Development Agreement In January 2012, the Company entered into a License and Development Agreement with Endo Health Solutions, Inc. (“Endo”) pursuant to which the Company granted Endo an exclusive commercial world-wide license to develop, manufacture, market and sell the Company’s BELBUCA™ product and to complete U.S. development of such product candidate for purposes of seeking FDA approval (the “Endo Agreement”). BELBUCA™ is for the management of pain severe enough to require daily, around-the-clock, long-term opioid treatment and for which alternative treatment options are inadequate. Pursuant to the Endo Agreement, Endo has obtained all rights necessary to complete the clinical and commercial development of BELBUCA™ and to sell the product worldwide. Although Endo has obtained all such necessary rights, the Company has agreed under the Endo Agreement to be responsible for the completion of certain clinical trials regarding BELBUCA™ (and providing clinical trial materials for such trials) necessary to submit a New Drug Application (“NDA”) to the FDA in order to obtain approval of BELBUCA™ in the U.S.). The Company is responsible for development activities through the filing of the NDA in the U.S., while Endo is responsible for the development following the NDA submission as well as the manufacturing, distribution, marketing and sales of BELBUCA™ on a worldwide basis. In addition, Endo is responsible for all filings required in order to obtain regulatory approval of BELBUCA™. Pursuant to the Endo Agreement, the Company has received (or is expected to receive upon satisfaction of applicable conditions) the following payments (some portion(s) of which will be utilized by the Company to support its development obligations under the Endo Agreement with respect to BELBUCA™): • $30 million non-refundable upfront license fee (earned in January 2012); • $15 million for enhancement of intellectual property rights (earned in May 2012); • $20 million for full enrollment in two clinical trials ($10 million earned in January 2014 and $10 million earned in June 2014); • $10 million upon FDA acceptance of filing NDA (earned in February 2015); • $50 million upon regulatory approval; • up to an aggregate of $55 million based on the achievement of four separate post-approval sales thresholds; and • sales-based royalties in a particular percentage range on U.S. sales of BELBUCA™, and royalties in a lesser range on sales outside the United States, subject to certain restrictions and adjustments. The Company has assessed its arrangement with Endo and the Company’s deliverables thereunder at inception to determine: (i) the separate units of accounting for revenue recognition purposes, (ii) which payments should be allocated to which of those units of accounting and (iii) the appropriate revenue recognition pattern or trigger for each of those payments. The assessment requires subjective analysis and requires management to make judgments, estimates and assumptions about whether deliverables within multiple-element arrangements are separable and, if so, to determine the amount of arrangement consideration to be allocated to each unit of accounting. At the inception of the Endo arrangement, the Company determined that the Endo Agreement was a multi-deliverable arrangement with three deliverables: (1) the license rights related to BELBUCA™, (2) services related to obtaining enhanced intellectual property rights through the issuance of a particular patent and (3) clinical development services. The Company concluded that the license delivered to Endo at the inception of the Endo Agreement has stand-alone value. It was also determined that there was a fourth deliverable, the provision of clinical trial material (“CTM”). The amounts involved are, however, immaterial and delivered in essentially the same time frame as the clinical development services. Accordingly, the Company did not separately account for the CTM deliverable, but considers it part of the clinical development services deliverable. The initial non-refundable $30 million license fee was allocated to each of the three deliverables based upon their relative selling prices using best estimates. The analysis of the best estimate of the selling price of the deliverables was based on the income approach, the Company’s negotiations with Endo and other factors, and was further based on management’s estimates and assumptions which included consideration of how a market participant would use the license, estimated market opportunity and market share, the Company’s estimates of what contract research organizations would charge for clinical development services, the costs of clinical trial materials and other factors. Also considered were entity specific assumptions regarding the results of clinical trials, the likelihood of FDA approval of the subject product and the likelihood of commercialization based in part on the Company’s prior agreements with the BEMA ® Based on this analysis, $15.6 million of the up-front license fee was allocated to the license (which was estimated to have a value significantly in excess of $30 million), and $14.4 million to clinical development services (which is inclusive of the cost of CTM). Although the intellectual property component was considered a separate deliverable, no distinct amount of the up-front payment was assigned to this deliverable because the Company determined the deliverable to be perfunctory. The amount allocated to the license was recognized as revenue in fiscal year 2012. The portion of the upfront license fee allocated to the clinical development services deliverable of $14.4 million is being recognized as those services are performed. The Company estimated that such clinical development services will extend into the first half of 2015. Such services were completed by March 2015 and resulted in the recognition of the remaining deferred revenue balance of $0.4 million during the six months ended June, 30, 2015 in the accompanying condensed statements of operations. There was no deferred revenue recognized during the three months ended June 30, 2015. During the three and six months ended June 30, 2014, $0.6 million and $1.8 million, respectively was recognized as contract revenue in the accompanying condensed consolidated statements of operations. The term of the Endo Agreement shall last, on a country-by-country basis, until the later of: (i) 10 years from the date of the first commercial sale of BELBUCA™ in a particular country or (ii) the date on which the last valid claim of the Company’s patents covering BELBUCA™ in a particular country has expired or been invalidated. The Endo Agreement shall be subject to termination by Endo, at any time, upon a specific timeframe of prior written notice to the Company and under certain other conditions by either party as specified in the Endo Agreement. The remaining milestone payments are expected to be recognized as revenue as they are achieved, except that one milestone is contingently refundable for a period of time. Revenue related to such contingently refundable milestone is expected to be recognized as refund provisions, as defined in the agreement, expire. Sale threshold payments and sales-based royalties will be recognized as they accrue under the terms of the Endo Agreement. The Company is reimbursed by Endo for certain contractor costs when these costs go beyond set thresholds as outlined in the Endo Agreement. Endo reimburses the Company for this spending at cost and the Company receives no mark-up or profit. The gross amount of these reimbursed research and development costs are reported as research and development reimbursement revenue in the accompanying consolidated statements of operations. The Company acts as a principal, has discretion to choose suppliers, bears credit risk and may perform part of the services required in the transactions. Therefore, these reimbursements are treated as revenue to the Company. The actual expenses creating the reimbursements are reflected as research and development expense. Beginning in March 2014, total reimbursable contractor costs exceeded a set threshold, at which point all such expenses are to be borne at a rate of 50% by Endo and 50% by the Company. Endo has continued to reimburse the Company for 100% of such costs, with 50% thereof to be taken as a credit against potential future milestones associated with achievement of certain regulatory events. During the six months ended June 30, 2015, the Company received $0.9 million of such prepayments, which have been recorded as deferred revenue, current in the accompanying condensed consolidated balance sheet. During the six months ended June 30, 2015 and June 30, 2014, the Company recognized $0.9 million and $10.8 million, respectively, of reimbursable expenses related to its Endo agreement, which is recorded as research and development reimbursement revenue on the accompanying condensed consolidated statement of operations. During the three months ended June 30, 2015 and June 30, 2014, the Company recognized $0.08 million and $2.3 million, respectively, of reimbursable expenses related to its Endo agreement, which is recorded as research and development reimbursement revenue on the accompanying condensed consolidated statement of operations. On December 23, 2014, the Company, along with Endo, announced the submission of a NDA for BELBUCA™ to the FDA, which was accepted February 23, 2015.

License Obligations

License Obligations	6 Months Ended
	Jun. 30, 2015
Text Block [Abstract]
License Obligations	7. License Obligations: Arcion License Agreement On March 26, 2013, the Company entered into a license agreement with Arcion Therapeutics, Inc. (the “Arcion Agreement”) pursuant to which Arcion granted to the Company an exclusive commercial world-wide license, with rights of sublicense, under certain patent and other intellectual property rights related to in-process research and development to develop, manufacture, market, and sell gel products containing clonidine (or a derivative thereof) for the treatment of painful diabetic neuropathy (“PDN”) and other indications (the “Arcion Products”). Pursuant to the Arcion Agreement, the Company is responsible for using commercially reasonable efforts to develop and commercialize Arcion Products, including the use of such efforts to conduct certain clinical trials within certain time frames. The Company is required to make the following payments to Arcion: • $2.5 million upon filing and acceptance by the FDA of an NDA with respect to an Arcion Product payable, at the Company’s option, in cash or unregistered shares of Common Stock (with such shares being subject to a nine month lock-up and certain limitations on sale thereafter); and • up to a potential $60 million in cash payments upon achieving certain pre-determined sales thresholds in the U.S., none of which occur prior to achieving at least $200 million in U.S. net sales. In addition, the Company shall pay Arcion $35 million in cash on initial FDA approval of an Arcion Product, unless: (i) the Company does not receive at least $70 million in FDA approval-related milestone payments from its US sublicensees (if any sublicenses are involved) with respect to the Arcion Product, in which case the Company shall pay Arcion a prorated amount between $17.5 million and $35 million based on the total amount of such milestone payments received by the Company and its affiliates from its sublicenses (if any sublicenses are involved); or (ii) the FDA requires or recommends the performance of a capsaicin challenge test (to see if C-fiber function is present in the skin by determining if subjects experience pain, and to determine pain intensity if present) as a precondition or precursor to the prescribing of the Arcion Product (as a condition of approval, a labeling requirement, or otherwise), in which case such milestone shall be reduced to $17.5 million, but the first and second sales threshold payments described above shall each be increased by $8 million. All milestone payments due to Arcion under the Arcion Agreement are payable only once each. In addition to the milestones set forth above, the Company will pay royalties to Arcion based upon sales of Arcion Products by the Company, its affiliate and sub-licensees (if any), all as defined in the Arcion Agreement. In addition, in the event the amount due upon FDA approval of the Arcion Product in the U.S. is less than $35 million for any reason other than an FDA requirement or recommendation of a capsaicin challenge test, as described above, the Company shall pay Arcion a portion of any milestone payments received by the Company and its affiliates from their sublicensees on the basis of any events occurring in the U.S. following FDA approval but prior to (and including) first commercial sale of an Arcion Product in the U.S., and certain of the payments to Arcion referred to above shall also be subject to upward adjustment (with such upward adjustments payable in the form of cash or unregistered shares of the Company’s Common Stock, as elected solely by the Company), until such time as the sum of all such additional payments and upward adjustments (including the value of any issuances of stock, if elected by the Company) and the initial amount paid on the initial FDA approval totals $35 million. The term of the Arcion Agreement continues, on a country-by-country and product-by-product basis, until the earlier of (i) the expiration of the royalty term for a particular Arcion Product in a particular country or (ii) the effective date of termination by either party pursuant to customary termination provisions. The royalty term for any given country is the later of (i) the first date there are no valid claims against any Arcion patent, (ii) expiration of patent exclusivity or (iii) tenth anniversary of the first commercial sale. On March 30, 2015, the Company announced that the primary efficacy endpoint in its initial Phase 3 clinical study of Clonidine Topical Gel compared to placebo for the treatment of PDN did not meet statistical significance. Analyses of the trial results indicated significant differences in patient response between centers and among patient subpopulations. Based on review of these analyses with statistical and clinical consultants, the Company has elected to initiate an additional placebo-controlled study with entry criteria and design features that attempt to control for the challenges of assay sensitivity and accuracy of pain assessment in diabetic patients with neuropathic pain. The additional study is planned to start in fourth quarter of 2015. The company will be discussing the design of this study with the European Medicines Agency to assess its adequacy as the single study required for EU submission. Evonik Development and Exclusive License Option Agreement: On October 27, 2014, the Company entered into a definitive Development and Exclusive License Option Agreement (the “Development Agreement”) with Evonik Corporation, (“Evonik”) to develop and commercialize an injectable, extended release, microparticle formulation of buprenorphine for the treatment of opioid dependence (the “Product”). Under the Development Agreement, the Company also has the right to pursue development of the Product for pain management. Under the Development Agreement, Evonik has also granted to the Company two exclusive options to acquire exclusive worldwide licenses, with rights of sublicense, to certain patents and other intellectual property rights of Evonik to develop and commercialize certain products containing buprenorphine. If such options are exercised, such licenses would be memorialized in the License Agreement (as defined below). Pursuant to the Development Agreement, Evonik is responsible for using commercially reasonable efforts to develop a formulation for the Product in accordance with a work plan mutually agreed upon by the parties (the “Project”). Should the Project proceed past the Product formulation stage, Evonik also has the right to manufacture clinical and commercial supplies of Product, such manufacturing arrangement to be negotiated by the Parties in good faith in a formal License and Supply Agreement(s) (the “License Agreement”), with such License Agreement covering Evonik’s intellectual property rights to be entered into between the parties if certain conditions are met and terms are mutually agreed upon. Should Evonik and the Company enter into the License Agreement following the attainment of a Phase 1 ready formulation for one or both of the opioid dependence or pain management indications, the Company would pay Evonik certain non-refundable, non-creditable one-time payment in conjunction with certain future regulatory filings and approvals and royalties on net sales of Product. The Development Agreement contains customary termination provisions, and the Company may additionally terminate the Development Agreement at any time after the completion of certain enumerated tasks as provided in the Development Agreement, for any reason or no reason, by providing written notice of termination to Evonik. Upon termination of the Development Agreement, Evonik will be paid any amounts owed to Evonik in accordance with the Estimated Budget for work that has been performed under the Development Agreement through the effective date of termination, including any reasonable, documented, non-cancelable third party costs and any reasonable, documented wind-down costs reasonably incurred by Evonik in connection with the Project. Should the Company terminate for reasons other than for a material, uncured breach by Evonik or Evonik’s bankruptcy, Evonik shall have the right to use any and all data and intellectual property generated under the Project for any purpose.

Note Payable

Note Payable	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Note Payable	8. Note Payable: On May 29, 2015, the Company entered into a $30 million secured loan facility (the “Loan”) with MidCap Financial Trust, as agent and lender (“MidCap”), pursuant to the terms and conditions of that certain Amended and Restated Credit and Security Agreement, dated as of May 29, 2015 (the “Credit Agreement”), between the Company and MidCap. The Credit Agreement is a restatement, amendment and modification of a prior Credit and Security Agreement, dated as of July 5, 2013 (the “Prior Agreement”) between the Company, MidCap Financial SBIC, LLP, a predecessor to MidCap, and certain lenders thereto. The Credit Agreement restructures, renews, extends and modifies the obligations under the Prior Agreement and the other financing documents executed in connection with the Prior Agreement (the “Prior Loan”). The Company received net Loan proceeds in the aggregate amount of approximately $20.1 million and will use the Loan proceeds for general corporate purposes or other activities of the Company permitted under the Credit Agreement. The Loan has a term of 42 months, with interest only payments for the first 12 months. The interest rate is 8.45% plus a LIBOR floor of 0.5% (total of 8.95% at June 30, 2015), with straight line amortization, commencing on June 1, 2016, in an amount equal to $1 million per month. Upon execution of the Credit Agreement, the Company paid to MidCap a closing fee from the prior loan of approximately $0.4 million. Upon repayment in full of the Loan, the Company is obligated to make a final payment fee equal to 2.75% of the aggregate Loan amount. The 2.75% exit fee has been recorded as deferred loan costs, the current portion of which is included in prepaid expenses and other current assets and the long-term portion in other assets and is being amortized over the life of the loan. The payable is recorded as other long-term liabilities. In addition, the Company may prepay all or any portion of the Loan at any time subject to a prepayment premium of: (i) 5% of the Loan amount prepaid in the first year following the execution of the Credit Agreement and (ii) 3% of the Loan amount prepaid in each year thereafter. The obligations of the Company under the Credit Agreement are secured by a first priority lien in favor of MidCap on substantially all of the Company’s existing and after-acquired assets, but excluding certain intellectual property and general intangible assets of the Company (but not any proceeds thereof). The obligations of the Company under the Credit Agreement are also secured by a first priority lien on the equity interests held by the Company. The Company entered into and reaffirmed, as applicable, customary pledge and intellectual property security agreements to evidence the security interest in favor of MidCap. Under the Credit Agreement, the Company is subject to affirmative covenants which are customary for financings of this type, including, but not limited to, the obligations of the Company to: (i) maintain good standing and governmental authorizations, (ii) provide certain information and notices to MidCap, (iii) deliver quarterly and annual financial statements to MidCap, (iv) maintain insurance, property and books and records (v) discharge all taxes, (vi) protect their intellectual property and (vii) generally protect the collateral granted to MidCap. The Company is also subject to negative covenants customary for financings of this type, including, but not limited to, that they may not: (i) enter into a merger or consolidation or certain change of control events without complying with the terms of the Credit Agreement, (ii) incur liens on the collateral, (iii) incur additional indebtedness, (iv) dispose of any property, (v) amend material agreements or organizational documents, (vi) change their business, jurisdictions of organization or their organizational structures or types, (vii) declare or pay dividends (other than dividends payable solely in Common Stock), (viii) make certain investments or acquisitions except under certain circumstances as set forth in the Credit Agreement, or (ix) enter into certain transactions with affiliates, in each case subject to certain exceptions provided for in the Credit Agreement. Notwithstanding the foregoing, the Credit Agreement amends certain negative covenants contained in the Prior Agreement such that (i) licensing and acquisition are added as permitted business activities of the Company and (ii) the Company is no longer required to obtain the prior written consent of MidCap for any in-licensing, product or entity acquisitions by the Company by way of merger or consolidation, so long as no event of default has occurred and certain financial metrics are adhered to. The Credit Agreement provides for several events of default under the Loan. Upon the occurrence of any event of default, the Company’s obligations under the Credit Agreement will bear interest at a rate equal to the lesser of: (i) 4% above the rate of interest applicable to such obligations immediately prior to the occurrence of the event of default and (ii) the maximum rate allowable under law. The balance of the Loan as of June 30, 2015 is $29.7 million, and is recorded in the accompanying condensed consolidated balance sheet, net of unamortized discount of $0.3 million.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Stockholders' Equity	9. Stockholders’ Equity: Stock-based compensation During the six months ended June 30, 2015, a total of 271,614 options to purchase Common Stock with an aggregate fair market value of approximately $1.8 million were granted to Company employees and contractors. The options granted have a term of 10 years from the grant date and vest ratably over a three year period. The fair value of each option is amortized as compensation expense evenly through the vesting period. The Company’s stock-based compensation expense is allocated between research and development and selling, general and administrative as follows: Three months ended, Six months ended, Stock-based compensation expense June 30, June 30, June 30, June 30, Research and Development $1.1 $ — $1.9 $ — Selling, General and Administrative $3.1 $0.4 $5.7 $2.5 The fair value of each option award is estimated on the grant date using the Black-Scholes valuation model that uses assumptions for expected volatility, expected dividends, expected term, and the risk-free interest rate. Expected volatilities are based on implied volatilities from historical volatility of the Common Stock, and other factors estimated over the expected term of the options. The expected term of options granted is derived using the “simplified method” which computes expected term as the average of the sum of the vesting term plus contract term. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for the period of the expected term. The weighted average for key assumptions used in determining the fair value of options granted during the six months ended June 30, 2015 follows: Expected price volatility 72.82% -73.33% Risk-free interest rate 1.44% Weighted average expected life in years 6 years Dividend yield — Option activity during the six months ended June 30, 2015 was as follows: Number of Weighted Aggregate Outstanding at January 1, 2015 3,196,100 $ 4.32 Granted 271,614 10.23 Exercised (75,050 ) 4.04 Forfeitures (114,237 ) 12.57 Outstanding at June 30, 2015 3,278,427 $ 5.44 $ 10,769 As of June 30, 2015, options exercisable totaled 2,612,446. There was approximately $36.7 million of unrecognized compensation cost related to non-vested share-based compensation awards, including options and restricted stock units (“RSUs”) granted. These costs will be expensed through 2018. Warrants The Company has granted warrants to purchase shares of Common Stock. Warrants may be granted to affiliates in connection with certain agreements. During the six months ended June 30, 2015, the remaining 284 outstanding warrants were exercised at a price of $3.12 per share. Earnings Per Share During the six months ended June 30, 2015 and 2014, outstanding stock options, RSUs, warrants and convertible preferred stock of 9.5 million and 9.7 million, respectively, were not included in the computation of diluted earnings per share, because to do so would have had an antidilutive effect. Recovery of Stockholder Short Swing Profit In February 2015, an executive officer of the Company paid a total of approximately $0.006 million to the Company, representing the disgorgement of short swing profits under Section 16(b) under the Exchange Act. The amount was recorded as additional paid-in capital. Restricted Stock Units During the six months ended June 30, 2015, approximately 2.1 million RSUs were granted to members of the Company’s senior management, with a fair market value of approximately $30.8 million. There were no grants during the three months ended June 30, 2015. The fair value of restricted units is determined using quoted market prices of the Common Stock and the number of shares expected to vest. These RSUs were issued under the Company’s 2011 Equity Incentive Plan, as amended, and vest in equal installments over three years. Restricted stock activity during the six months ended June 30, 2015 was as follows: Number of Weighted Outstanding at January 1, 2015 2,849,076 $ 6.08 Granted: Executive officers 2,102,615 14.63 Directors — — Vested (712,677 ) 14.23 Forfeitures (65,853 ) 11.69 Outstanding at June 30, 2015 4,173,161 $ 10.25

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. Commitments and contingencies: Litigation Related To ONSOLIS ® In March 2012, the Company announced that the New Jersey Federal Court granted a stay of further litigation in the patent infringement lawsuit previously filed by MonoSol Rx, LLC (“MonoSol”) against the Company and its ONSOLIS ® ® Based on the Company’s original assertion that its proprietary manufacturing process for ONSOLIS ® Given the outcomes of the ‘292, ‘891 and ‘588 reexamination proceedings, at a January 22, 2015 status meeting, the Court decided to lift the stay and grant the Company’s request for the case to proceed on an expedited basis with a Motion for Summary Judgment to dismiss the action. In doing so, the Judge denied MonoSol’s request for full litigation proceedings (including, for example, discovery and claim construction proceedings). The Company filed its motion for summary judgment on March 13, 2015 and the briefing took place during March. The Court indicated it would rule on the Company’s summary judgment motion without an oral hearing. The Company expects a decision within the second half of 2015. Based upon the outcome from reexaminations and the Court’s grant of the Company’s request for the proceedings to move directly to a motion for summary judgment, the Company believes it will prevail and the case will be dismissed. However, if this does not occur and the case proceeds to trial, the Company will continue to defend this case vigorously and seek a dismissal at trial. Ultimately, whether now with the motion for summary judgment proceedings or later with trial proceedings, the Company anticipates that MonoSol’s claims against the Company will be rejected. Litigation Related To BUNAVAIL ® On October 29, 2013, Reckitt Benckiser, Inc. RB Pharmaceuticals Limited, and MonoSol RX, LLC (collectively, the “RB Plaintiffs”) filed an action against the Company relating to the Company’s BUNAVAIL ® ® ® On September 20, 2014, based upon the Company’s position and belief that its BUNAVAIL ® Eastern District of North Carolina, requesting the Court to make a determination that the Company’s BUNAVAIL ® On September 22, 2014, the RB Plaintiffs filed an action against the Company (and the Company’s commercial partner) relating to its BUNAVAIL ® ® ® In a related matter, on October 28, 2014, the Company filed multiple IPR requests on the ’167 Patent demonstrating that certain claims of such patent were anticipated by or obvious in the light of prior art references, including prior art references not previously considered by the USPTO, and thus, invalid. The USPTO instituted three of the four IPR requests and the Company filed a request for rehearing for the non-instituted IPR. A final decision on the instituted ‘167 IPRs is expected in May 2016. On January 22, 2014, MonoSol filed a Petition for IPR on US Patent No. 7,579,019 (the ‘019 Patent). The Petition asserted that the claims of the ‘019 Patent are alleged to be unpatentable over certain prior art references. The IPR was instituted on August 6, 2014. An oral hearing was held in April 2015 and a decision upholding all 7 claims was issued August 5, 2015. MonoSol may request rehearing to the USPTO or they may appeal the decision to the Federal Circuit. The Company will continue to vigorously defend its ‘019 patent if this favorable IPR decision is appealed.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	11. Subsequent events: On July 2, 2015, the Company filed a shelf registration statement which registered up to $150 million of the Company’s securities for potential future issuance, and such registration statement was declared effective on July 13, 2015. Concurrent with the filing of such registration statement, the Company established an “at-the-market” offering program utilizing the universal shelf registration for up to $40 million of Common Stock. On July 16, 2015, the Company held its 2015 Annual Meeting of Stockholders (the “Annual Meeting”). During the Annual Meeting, the amendment to the Company’s 2011 Equity Incentive Plan to increase the number of shares of common stock authorized for issuance under the plan by 2,250,000 shares from 8,800,000 to 11,050,000 was approved by stockholders.

Organization, Basis of Presen18

Organization, Basis of Presentation and Summary of Significant Policies (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Overview	Overview BioDelivery Sciences International Inc., together with its subsidiaries (collectively, the “Company” or “BDSI”) is a specialty pharmaceutical company that is leveraging its novel and proprietary patented drug delivery technologies to develop and commercialize, either on its own or in partnerships with third parties, new applications of proven therapeutics. The Company is focusing on developing products to meet unmet patient needs in the areas of pain management and addiction. The accompanying unaudited condensed consolidated financial statements include all adjustments (consisting of normal and recurring adjustments) necessary for a fair presentation of these financial statements. The condensed consolidated balance sheet at December 31, 2014 has been derived from the Company’s audited consolidated financial statements included in its annual report on Form 10-K for the year ended December 31, 2014. Certain footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) have been condensed or omitted pursuant to the Securities and Exchange Commission (“SEC”) rules and regulations. It is suggested that these condensed consolidated financial statements be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2014. The Company has reclassified certain amounts within expenses in the Statements of Operations for the three and six month periods ended June 30, 2014 to conform to the current year presentation. These reclassifications had no effect on the measurement of total expenses, loss from operations, or net loss. We also made certain reclassifications in a footnote table for the year ending December 31, 2014 to conform to the current period presentation. Operating results for the three and six month period ended June 30, 2015 are not necessarily indicative of results for the full year or any other future periods. As used herein, the Company’s common stock, par value $.001 per share, is referred to as the “Common Stock”.
Use of estimates in financial statements	Use of estimates in financial statements The preparation of the accompanying condensed consolidated financial statements requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and assumptions.
Inventory	Inventory Inventories are stated at the lower of cost or market value with costs determined on the first-in, first-out method. Inventory consists of raw materials, work in process and finished goods. Raw materials include active pharmaceutical ingredient for a product to be manufactured, work in process includes the bulk inventory of laminate prior to being packaged for sale, and finished goods include pharmaceutical products ready for commercial sale. On a quarterly basis, the Company analyzes its inventory levels and records allowances for inventory that has become obsolete, inventory that has a cost basis in excess of the expected net realizable value and inventory that is in excess of expected demand based upon projected product sales. There were no allowances recorded at June 30, 2015.
Deferred revenue	Deferred revenue Consistent with the Company’s revenue recognition policy, deferred revenue represents cash received in advance for licensing fees, consulting, research and development services, related supply agreements and product sales. Such payments are reflected as deferred revenue until recognized under the Company’s revenue recognition policy. Deferred revenue is classified as current if management believes the Company will be able to recognize the deferred amount as revenue within twelve months of the balance sheet date.
Revenue recognition	Revenue recognition Product Sales ® As of June 30, 2015 and December 31, 2014, the Company had $1.2 million and $0.8 million of deferred revenue related to sales of BUNAVAIL ® Product Returns ® Rebates- Price Adjustments and Chargebacks The Company, from time to time, offers certain promotional product-related incentives to its customers. These programs include certain product incentives to pharmacy customers and other sales stocking allowances. The Company has voucher programs for BUNAVAIL ® Prompt Payment Discounts
Deferred Cost of Sales	Deferred Cost of Sales The Company defers its cost of sales in connection with BUNAVAIL ®
Cost of Sales	Cost of Sales The cost of sales attributable to the production of BUNAVAIL ® ® The cost of sales attributable to the production of ONSOLIS ®
Recent accounting pronouncements	Recent accounting pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2014-09, “Revenue from Contracts with Customers,” which supersedes the revenue recognition requirements of Accounting Standards Codification (“ASC”) Topic 605, “Revenue Recognition” and most industry-specific guidance on revenue recognition throughout the ASC. The new standard is principles-based and provides a five step model to determine when and how revenue is recognized. The core principle of the new standard is that revenue should be recognized when a company transfers promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. The new standard also requires disclosure of qualitative and quantitative information surrounding the amount, nature, timing and uncertainty of revenues and cash flows arising from contracts with customers. In July 2015, the FASB agreed to defer the effective date of the standard from January 1, 2017, to January 1, 2018, with an option that permits companies to adopt the standard as early as the original effective date. Early application prior to the original effective date is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting.

Inventory (Tables)

Inventory (Tables)	6 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Summary of Inventories	The following table represents the components of inventory as of: June 30, 2015 December 31, 2014 Raw materials & supplies $ 424 $ 544 Work-in-process 497 523 Finished goods 612 761 Total inventories $ 1,533 $ 1,828

Accounts Payable and Accrued 20

Accounts Payable and Accrued Liabilities (Tables)	6 Months Ended
	Jun. 30, 2015
Payables and Accruals [Abstract]
Summary of Components of Accounts Payable and Accrued Liabilities	The following table represents the components of accounts payable and accrued liabilities as of: June 30, 2015 December 31, 2014 Accounts payable $ 7,670 $ 9,072 Accrued price adjustments 1,685 1,094 Accrued rebates 332 231 Accrued chargebacks 34 14 Accrued compensation and benefits 1,053 945 Accrued royalties 445 770 Accrued other 1,044 2,303 Total accounts payable and accrued expenses $ 12,263 $ 14,429

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Summarized Category of Fixed Assets	Property and equipment, summarized by major category, consist of the following as of: June 30, 2015 December 31, 2014 Idle equipment $ 4,971 $ 4,432 Machinery & equipment 570 680 Computer equipment & software 373 344 Office furniture & equipment 190 110 Leasehold improvements 53 9 Total 6,157 5,575 Less accumulated depreciation (1,852 ) (1,685 ) Total property, plant & equipment, net $ 4,305 $ 3,890

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Summary of Allocated Stock-based Compensation Expense	The Company’s stock-based compensation expense is allocated between research and development and selling, general and administrative as follows: Three months ended, Six months ended, Stock-based compensation expense June 30, June 30, June 30, June 30, Research and Development $1.1 $ — $1.9 $ — Selling, General and Administrative $3.1 $0.4 $5.7 $2.5
Weighted Average for Key Assumptions Used in Determining Fair Value of Options Granted	The weighted average for key assumptions used in determining the fair value of options granted during the six months ended June 30, 2015 follows: Expected price volatility 72.82% -73.33% Risk-free interest rate 1.44% Weighted average expected life in years 6 years Dividend yield —
Summary of Option Activity	Option activity during the six months ended June 30, 2015 was as follows: Number of Weighted Aggregate Outstanding at January 1, 2015 3,196,100 $ 4.32 Granted 271,614 10.23 Exercised (75,050 ) 4.04 Forfeitures (114,237 ) 12.57 Outstanding at June 30, 2015 3,278,427 $ 5.44 $ 10,769
Summary of Restricted Stock Activity	Restricted stock activity during the six months ended June 30, 2015 was as follows: Number of Weighted Outstanding at January 1, 2015 2,849,076 $ 6.08 Granted: Executive officers 2,102,615 14.63 Directors — — Vested (712,677 ) 14.23 Forfeitures (65,853 ) 11.69 Outstanding at June 30, 2015 4,173,161 $ 10.25

Organization and Basis of Prese

Organization and Basis of Presentation - Additional Information (Detail) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014
Basis Of Presentation [Line Items]
Common Stock, par value	$ 0.001	$ 0.001	$ 0.001
Sales return maximum duration		18 months
Offered period for sales return prior to expiration		6 months
Offered period for sales return subsequent to expiration		12 months
Discount for prompt payment	2.00%	2.00%
Inventory write down	$ 200,000	$ 400,000
Inventory valuation adjustments				$ 0
Bunavail [Member]
Basis Of Presentation [Line Items]
Deferred revenue related to sales	1,200,000	1,200,000	$ 800,000
Deferred cost of sales	$ 1,100,000	$ 1,100,000	$ 700,000
Minimum [Member]
Basis Of Presentation [Line Items]
Period of payments from customers		30 days
Maximum [Member]
Basis Of Presentation [Line Items]
Period of payments from customers		37 days

Liquidity and Management's Pl24

Liquidity and Management's Plans - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Liquidity And Managements Plans [Abstract]
Cash and cash equivalents	$ 67,655	$ 78,364	$ 70,472	$ 23,176
Cash from operations	(19,350)	$ (8,738)
Stockholders' equity	34,920		$ 54,396
Potential milestone payment receivable upon regulatory approval	$ 50,000

Inventory - Summary of Inventor

Inventory - Summary of Inventories (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Inventory Disclosure [Abstract]
Raw materials & supplies	$ 424	$ 544
Work-in-process	497	523
Finished goods	612	761
Total inventories	$ 1,533	$ 1,828

Accounts Payable and Accrued 26

Accounts Payable and Accrued Liabilities - Summary of Components of Accounts Payable and Accrued Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Payables and Accruals [Abstract]
Accounts payable	$ 7,670	$ 9,072
Accrued price adjustments	1,685	1,094
Accrued rebates	332	231
Accrued chargebacks	34	14
Accrued compensation and benefits	1,053	945
Accrued royalties	445	770
Accrued other	1,044	2,303
Total accounts payable and accrued expenses	$ 12,263	$ 14,429

Property and Equipment - Summar

Property and Equipment - Summarized Category of Fixed Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Property, plant & equipment, gross	$ 6,157	$ 5,575
Less accumulated depreciation	(1,852)	(1,685)
Total property, plant & equipment, net	4,305	3,890
Idle Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant & equipment, gross	4,971	4,432
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant & equipment, gross	570	680
Computer Equipment and Software [Member]
Property, Plant and Equipment [Line Items]
Property, plant & equipment, gross	373	344
Office Furniture and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant & equipment, gross	190	110
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant & equipment, gross	$ 53	$ 9

Property and Equipment - Additi

Property and Equipment - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Property Plant and Equipment Useful Life and Values [Abstract]
Depreciation	$ 100	$ 10	$ 167	$ 25

License and Development Agree29

License and Development Agreements - Meda License, Development and Supply Agreements - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Oct. 31, 2009	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenue Recognition, Milestone Method [Line Items]
Patent expiration year				2,020
Contract revenues		$ 351	$ 10,675	$ 11,759	$ 21,959
U.S. [Member]
Revenue Recognition, Milestone Method [Line Items]
Aggregate milestones and services revenue recognized	$ 59,700
U.S. [Member] | Milestones [Member]
Revenue Recognition, Milestone Method [Line Items]
Contract revenues				$ 1,000

License and Development Agree30

License and Development Agreements - Endo License and Development Agreement - Additional Information (Detail)	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)MilestoneClinical_Trials	Jun. 30, 2014USD ($)	Jan. 31, 2014USD ($)	Jan. 31, 2012USD ($)
Revenue Recognition, Milestone Method [Line Items]
Non-refundable payment received						$ 30,000,000
Potential milestone payments on intellectual property rights			$ 15,000,000
Potential payments upon filing and acceptance			10,000,000
Potential milestone payment receivable upon regulatory approval			50,000,000
Payment receivable on achievement of potential sales milestones	$ 55,000,000		$ 55,000,000
Number of potential sales milestones | Milestone			4
Recognized up-front payment allocated to the license			$ 15,600,000
Recognized up-front payment to clinical trial material and development services			14,400,000
Upfront payment			30,000,000
Recognition of deferred revenue	0		400,000
Contract revenue	351,000	$ 10,675,000	$ 11,759,000	$ 21,959,000
Term of Endo Agreement			10 years
Total rate of reimbursable contractor costs borne			50.00%
Deferred revenue recognized during the period	80,000	2,318,000	$ 855,000	10,770,000
Clinical Trials Full Enrollment [Member]
Revenue Recognition, Milestone Method [Line Items]
Potential milestone payment received, clinical development	20,000,000		$ 20,000,000
Number of clinical trials | Clinical_Trials			2
Clinical Trials One [Member]
Revenue Recognition, Milestone Method [Line Items]
Potential milestone payment received, clinical development					$ 10,000,000
Clinical Trials Two [Member]
Revenue Recognition, Milestone Method [Line Items]
Potential milestone payment received, clinical development		10,000,000		10,000,000
Endo Agreement [Member]
Revenue Recognition, Milestone Method [Line Items]
Total rate of reimbursable contractor costs borne			50.00%
Reimbursement rate of costs by Endo to the company as per agreement			100.00%
Percentage of credit against potential future milestones			50.00%
Deferred revenue from research and development activities	$ 900,000	$ 10,800,000	$ 900,000	$ 10,800,000

License Obligations - Arcion Li

License Obligations - Arcion License Agreement - Additional Information (Detail) - 6 months ended Jun. 30, 2015 - USD ($)	Total
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Potential payments upon filing and acceptance	$ 10,000,000
Increase in milestone payments	8,000,000
U.S. [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Potential Payments upon achieving certain pre-determined sales thresholds in the U.S	60,000,000
U.S. [Member] | Minimum [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Milestone Sales	200,000,000
Milestone payments receivable from sublicenses	70,000,000
Arcion Agreement [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Potential payments upon filing and acceptance	$ 2,500,000
Royalty term description	The royalty term for any given country is the later of (i) the first date there are no valid claims against any Arcion patent, (ii) expiration of patent exclusivity or (iii) tenth anniversary of the first commercial sale.
Arcion Agreement [Member] | Minimum [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Potential milestone payments upon FDA approval	$ 17,500,000
Arcion Agreement [Member] | Maximum [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Potential milestone payments upon FDA approval	$ 35,000,000

License Obligations - Evonik De

License Obligations - Evonik Development and Exclusive License Option Agreement - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2015Agreement
Definitive Development and Exclusive License Option Agreement[Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Number of license agreements granted	2

Note Payable - Additional Infor

Note Payable - Additional Information (Detail) - Secured Loan Facility [Member] - USD ($) $ in Millions	May. 29, 2015	Jun. 30, 2015
Debt Instrument [Line Items]
Term of loan		42 months
Interest rate		8.45%
LIBOR floor rate		0.50%
Interest expense per month		$ 1
Closing fee from the prior loan	$ 0.4
Final payment fee rate		2.75%
Loan amount prepaid in the first year following execution of credit agreement		5.00%
Loan amount prepaid in each year thereafter		3.00%
Interest rate at period end		8.95%
Exit fee percentage recorded as deferred loan costs		2.75%
Mid Cap [Member]
Debt Instrument [Line Items]
Secured loan facility	30
Net proceeds in aggregate amount	$ 20.1
Rate of interest applicable to obligations		4.00%
Secured loan facility due to Midcap		$ 29.7
Unamortized discount net		$ (0.3)

Stockholders' Equity - Addition

Stockholders' Equity - Additional information (Detail) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended	6 Months Ended
	Feb. 28, 2015USD ($)Executives	Jun. 30, 2015USD ($)$ / sharesshares	Jun. 30, 2015USD ($)$ / sharesshares	Jun. 30, 2014shares	Dec. 31, 2014shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of options granted period			10 years
Vesting period of shares			3 years
Unrecognized compensation cost related to non-vested share-based compensation awards granted | $		$ 36,700	$ 36,700
Unrecognized compensation cost related to non-vested share-based compensation awards granted year			2,018
Stock option exercisable		2,612,446	2,612,446
Warrants outstanding		3,278,427	3,278,427		3,196,100
Securities excluded from computation of diluted earnings per share			9,500,000	9,700,000
Number of executive officers from whom swing profits were recovered | Executives	1
Short swing profits recovered | $	$ 6
Fair market value of RSUs granted | $			$ 30,800
Vesting period of options			3 years
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity instruments awarded in period		0	2,100,000
Warrant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Warrants outstanding		284	284
Weighted average exercise price | $ / shares		$ 3.12	$ 3.12
Directors and Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity instruments awarded in period			271,614
Fair market value of shares granted | $			$ 1,800

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Allocated Stock-based Compensation Expense (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 1.1		$ 1.9
Selling, General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 3.1	$ 0.4	$ 5.7	$ 2.5

Stockholders' Equity - Weighted

Stockholders' Equity - Weighted Average for Key Assumptions Used in Determining Fair Value of Options Granted (Detail) - 6 months ended Jun. 30, 2015	Total
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	1.44%
Weighted average expected life in years	6 years
Dividend yield	0.00%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected price volatility	72.82%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected price volatility	73.33%

Stockholders' Equity - Summar37

Stockholders' Equity - Summary of Option Activity (Detail) - 6 months ended Jun. 30, 2015 - $ / shares	Total
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Number of Shares, Outstanding at beginning of period	3,196,100
Number of Shares, Granted	271,614
Number of Shares, Exercised	(75,050)
Number of Shares, Forfeitures	(114,237)
Number of Shares, Outstanding at end of period	3,278,427
Weighted Average Exercise Price Per Share, Outstanding at beginning of period	$ 4.32
Weighted Average Exercise Price Per Share, Granted	10.23
Weighted average Exercise Price Per Share, Exercised	4.04
Weighted Average Exercise Price Per Share, Forfeitures	12.57
Weighted Average Exercise Price Per Share, Outstanding at end of period	$ 5.44

Stockholders' Equity - Summar38

Stockholders' Equity - Summary of Restricted Stock Activity (Detail) - Jun. 30, 2015 - Restricted Stock Units (RSUs) [Member] - $ / shares	Total	Total
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Restricted Shares, Outstanding at beginning of period		2,849,076
Number of Shares, Granted	0	2,100,000
Number of Restricted Shares, Vested		(712,677)
Number of Restricted Shares, Forfeitures		(65,853)
Number of Restricted Shares, Outstanding at end of period	4,173,161	4,173,161
Weighted Average Fair Market Value Per RSU, Outstanding at beginning of period		$ 6.08
Weighted Average Fair Market Value Per RSU, Vested		14.23
Weighted Average Fair Market Value Per RSU, Forfeitures		11.69
Weighted Average Fair Market Value Per RSU, Outstanding at end of period	$ 10.25	$ 10.25
Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Granted		2,102,615
Weighted Average Fair Market Value Per RSU, Granted		$ 14.63

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	1 Months Ended
	Mar. 31, 2012Patents
Commitments and Contingencies Disclosure [Abstract]
Number of Patents under infringement Lawsuit, against the entity rejected by USPTO	3

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - USD ($)	Jul. 02, 2015	Jul. 16, 2015	Jun. 30, 2015	Dec. 31, 2014
Subsequent Event [Line Items]
Common Stock, shares authorized			75,000,000	75,000,000
Subsequent Event [Member] | Common Stock [Member]
Subsequent Event [Line Items]
Company's securities for shelf registration	$ 150,000,000
Universal shelf registration amount, maximum	$ 40,000,000
Subsequent Event [Member] | 2011 Equity Incentive Plan [Member]
Subsequent Event [Line Items]
Increase in shares of common stock authorized		2,250,000
Subsequent Event [Member] | 2011 Equity Incentive Plan [Member] | Minimum [Member]
Subsequent Event [Line Items]
Common Stock, shares authorized		8,800,000
Subsequent Event [Member] | 2011 Equity Incentive Plan [Member] | Maximum [Member]
Subsequent Event [Line Items]
Common Stock, shares authorized		11,050,000

Uncategorized Items - bdsi-2015

Label	Element	Value
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue	$ 10,769