Talphera (TLPH) 10-Q 2 Aug 18 2018 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Jul. 26, 2018
Document Information [Line Items]
Entity Registrant Name	ACELRX PHARMACEUTICALS INC
Entity Central Index Key	1,427,925
Trading Symbol	acrx
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		60,599,914
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Assets
Cash and cash equivalents	$ 33,273	$ 52,902	[1]
Short-term investments	16,849	7,567	[1]
Accounts receivable, net	773	1,533	[1]
Tax receivable	352
Inventories	663	956	[1]
Prepaid expenses and other current assets	1,051	455	[1]
Total current assets	52,961	63,413	[1]
Property and equipment, net	10,923	11,051	[1]
Restricted cash	178	178	[1]
Long-term tax receivable	351	703	[1]
Other assets	207	207	[1]
Total Assets	64,620	75,552	[1]
Liabilities and Stockholders’ Deficit
Accounts payable	1,804	1,424	[1]
Accrued liabilities	2,548	3,543	[1]
Long-term debt, current portion	8,139	7,727	[1]
Deferred revenue, current portion	338	362	[1]
Liability related to the sale of future royalties, current portion	384	604	[1]
Total current liabilities	13,213	13,660	[1]
Deferred rent, net of current portion	468	378	[1]
Long-term debt, net of current portion	7,539	11,369	[1]
Deferred revenue, net of current portion	3,305	3,463	[1]
Liability related to the sale of future royalties, net of current portion	88,895	82,984	[1]
Contingent put option liability	166	207	[1]
Total liabilities	113,586	112,061	[1]
Commitments and Contingencies
Stockholders’ Deficit:
Common stock, $0.001 par value—100,000,000 shares authorized as of June 30, 2018 and December 31, 2017; 53,327,187 and 50,899,154 shares issued and outstanding as of June 30, 2018 and December 31, 2017	53	51	[1]
Additional paid-in capital	270,984	261,310	[1]
Accumulated deficit	(320,003)	(297,870)	[1]
Total stockholders’ deficit	(48,966)	(36,509)	[1]
Total Liabilities and Stockholders’ Deficit	$ 64,620	$ 75,552	[1]
[1]	The condensed consolidated balance sheet as of December 31, 2017 has been derived from the audited financial statements as of that date included in the Company's Annual Report on Form 10-K for the year ended December 31, 2017.

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2018	Dec. 31, 2017	[1]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	100,000,000	100,000,000
Common stock, issued (in shares)	53,327,187	50,899,154
Common stock, outstanding (in shares)	53,327,187	50,899,154
[1]	The condensed consolidated balance sheet as of December 31, 2017 has been derived from the audited financial statements as of that date included in the Company's Annual Report on Form 10-K for the year ended December 31, 2017.

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenue:
Revenue	$ 818	$ 2,659	$ 1,161	$ 5,768
Operating costs and expenses:
Cost of goods sold	749	3,543	1,863	7,668
Research and development	3,278	4,901	6,791	11,820
General and administrative	3,944	4,156	7,929	8,294
Total operating costs and expenses	7,971	12,600	16,583	27,782
Loss from operations	(7,153)	(9,941)	(15,422)	(22,014)
Other (expense) income:
Interest expense	(586)	(903)	(1,229)	(1,677)
Interest income and other income (expense), net	195	396	331	250
Non-cash interest expense on liability related to future sale of royalties	(2,995)	(2,609)	(5,811)	(5,167)
Total other expense	(3,386)	(3,116)	(6,709)	(6,594)
Net loss before income taxes	(10,539)	(13,057)	(22,131)	(28,608)
Provision for income taxes	(2)	(2)	(2)	(2)
Net loss	(10,541)	(13,059)	(22,133)	(28,610)
Other comprehensive loss:
Unrealized gains (losses) on available-for-sale securities		2		(3)
Comprehensive loss	$ (10,541)	$ (13,057)	$ (22,133)	$ (28,613)
Net loss per share of common stock, basic and diluted (in dollars per share)	$ (0.20)	$ (0.29)	$ (0.43)	$ (0.63)
Shares used in computing net loss per share of common stock, basic and diluted (in shares)	51,841,550	45,379,471	51,388,762	45,363,949
Collaboration Agreement Revenue [Member]
Revenue:
Revenue	$ 351	$ 2,192	$ 625	$ 5,219
Contract and Other [Member]
Revenue:
Revenue	$ 467	$ 467	$ 536	$ 549

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash flows from operating activities:
Net loss	$ (22,133)	$ (28,610)
Adjustments to reconcile net loss to net cash used in operating activities:
Non-cash royalty revenue related to royalty monetization	(155)	(46)
Non-cash interest expense on liability related to royalty monetization	5,811	5,167
Depreciation and amortization	293	948
Non-cash interest expense related to debt financing	344	471
Stock-based compensation	2,128	2,222
Revaluation of put option and PIPE warrant liabilities	(41)	(124)
Inventory impairment charge		369
Other	(38)	(3)
Changes in operating assets and liabilities:
Accounts receivable	760	3,763
Inventories	293	574
Prepaid expenses and other assets	(561)	(276)
Accounts payable	469	2
Accrued liabilities	(837)	(538)
Deferred revenue	(182)	(181)
Deferred rent	65	(43)
Net cash used in operating activities	(13,784)	(16,305)
Cash flows from investing activities:
Purchase of property and equipment	(387)	(1,961)
Purchase of investments	(12,844)
Proceeds from maturities of investments	3,600
Net cash used in investing activities	(9,631)	(1,961)
Cash flows from financing activities:
Principal payments on long-term debt	(3,762)
Net proceeds from issuance of common stock in connection with equity financings	7,407
Net proceeds from issuance of common stock through equity plans	141	104
Net cash provided by financing activities	3,786	104
Net decrease in cash, cash equivalents and restricted cash	(19,629)	(18,162)
Cash, cash equivalents and restricted cash—Beginning of period	53,080	80,488
Cash, cash equivalents and restricted cash—End of period	$ 33,451	$ 62,326

Reconciliation of Cash, Cash Eq

Reconciliation of Cash, Cash Equivalents, and Restricted Cash	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Cash and Cash Equivalents Disclosure [Text Block]	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same such amounts shown in the condensed consolidated statement of cash flows (in thousands): June 30 , June 30 , 2018 2017 Cash and cash equivalents 33,273 62,148 Restricted cash 178 178 Cash, cash equivalents and restricted cash shown in the statement of cash flows 33,451 62,326 Amounts included in restricted cash represent letters of credit required to be maintained under the Company’s facility lease and corporate credit card agreements as security for performance under these agreements. The letters of credit are secured by certificates of deposit in amounts equal to the letters of credit. See notes to condensed consolidated financial statements.

Note 1 - Organization and Summa

Note 1 - Organization and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Basis of Presentation and Significant Accounting Policies [Text Block]	1. AcelRx Pharmaceuticals, Inc., or the Company or AcelRx, was incorporated in Delaware on July 13, 2005 January 2006, AcelRx is a specialty pharmaceutical company focused on the development and commercialization of innovative therapies for the treatment of acute pain. AcelRx’s lead product candidate, DSUVIA ™ ™ ® 30 15 not may DSUVIA/DZUVEO DSUVIA, is a 30 not 3 February 2017 October 2017, not two 50 January 2018 April 2018, no May 2018, November 3, 2018. The Company filed a Marketing Authorisation Application, or MAA, for DZUVEO (sufentanil sublingual tablet, 30 June 2018, Zalviso Zalviso delivers 15 September 2013 July 25, 2014. IAP312, IAP312 August 2017, three 3 second 2018. On December 16, 2013, July 17, 2015 September 20, 2016, September 2015, December 16, 2013, July 22, 2015, July 17, 2015.The The Company has incurred recurring operating losses and negative cash flows from operating activities since inception. Although Zalviso has been approved for sale in Europe, on September 18, 2015, Except as the context otherwise requires, when we refer to "we," "our," "us," the "Company" or "AcelRx" in this document, we mean AcelRx Pharmaceuticals, Inc., and its consolidated subsidiary. “DSUVIA” and “DZUVEO” are trademarks, and “ACELRX” and “Zalviso” are registered trademarks, all owned by AcelRx Pharmaceuticals, Inc. This report also contains trademarks and trade names that are the property of their respective owners. Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, ARPI LLC, which was formed in September 2015 8 Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and the rules and regulations of the U.S. Securities and Exchange Commission, or SEC. Accordingly, they do not Operating results for the three six June 30, 2018, not may December 31, 2018. December 31, 2017, December 31, 2017, 10 10 December 31, 2017, Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Management evaluates its estimates on an ongoing basis including critical accounting policies. Estimates are based on historical experience and on various other market-specific and other relevant assumptions that the Company believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not Revenue Recognition Beginning January 1, 2018, 606, Revenue from Contracts with Customers The Company generates revenue from collaboration agreements. These agreements typically include payments for upfront signing or license fees, cost reimbursements for development and manufacturing services, milestone payments, product sales, and royalties on licensee’s future product sales. The Company has entered into award contracts with U.S. Department of Defense, or the DoD, to support the development of DSUVIA. These contracts provide for the reimbursement of qualified expenses for research and development activities. Revenue under these arrangements is recognized when the related qualified research expenses are incurred. The Company is entitled to reimbursement of overhead costs associated with the study costs under the DoD arrangements. The Company estimates this overhead rate by utilizing forecasted expenditures. Final reimbursable overhead expenses are dependent on direct labor and direct reimbursable expenses throughout the life of each contract, which may In determining the appropriate amount of revenue to be recognized as it fulfills its obligations under its agreements, the Company performs the following steps: (i) identification of the promised goods or services in the contract; (ii) determination of whether the promised goods or services are performance obligations including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations based on estimated selling prices; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. Performance Obligations A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account in ASC Topic 606. The Company has optional additional items in contracts, which are considered marketing offers and are accounted for as separate contracts when the customer elects such options. Arrangements that include a promise for future commercial product supply and optional research and development services at the customer’s or the Company’s discretion are generally considered as options. The Company assesses if these options provide a material right to the licensee and if so, such material rights are accounted for as separate performance obligations. If the Company is entitled to additional payments when the customer exercises these options, any additional payments are recorded in revenue when the customer obtains control of the goods or services. Transaction Price The Company has both fixed and variable consideration. Non-refundable upfront fees and product supply selling prices are considered fixed, while milestone payments are identified as variable consideration when determining the transaction price. Funding of research and development activities is considered variable until such costs are reimbursed at which point they are considered fixed. The Company allocates the total transaction price to each performance obligation based on the relative estimated standalone selling prices of the promised goods or services for each performance obligation. At the inception of each arrangement that includes milestone payments, the Company evaluates whether the milestones are considered probable of being achieved and estimates the amount to be included in the transaction price using the most likely amount method. If it is probable that a significant revenue reversal would not not not For arrangements that include sales-based royalties, including milestone payments based on the level of sales, and the license is deemed to be the predominant item to which the royalties relate, the Company recognizes revenue at the later of (a) when the related sales occur, or (b) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied). Allocation of Consideration As part of the accounting for these arrangements, the Company must develop assumptions that require judgment to determine the stand-alone selling price of each performance obligation identified in the contract. Estimated selling prices for license rights and material rights for discounts on manufacturing services are calculated using an income approach model and can include the following key assumptions: the development timeline, sales forecasts, costs of product sales, commercialization expenses, discount rate, the time which the manufacturing services are expected to be performed, and probabilities of technical and regulatory success. For all other performance obligations, the Company uses a cost-plus margin approach. Timing of Recognition Significant management judgment is required to determine the level of effort required under an arrangement and the period over which the Company expects to complete its performance obligations under the arrangement. The Company estimates the performance period or measure of progress at the inception of the arrangement and re-evaluates it each reporting period. This re-evaluation may Significant Accounting Policies The Company’s significant accounting policies are detailed in its Annual Report on Form 10 December 31, 2017. 606 4 606, Revenue from Contracts with Customers no three six June 30, 2018, 2017 10 Recently Adopted Accounting Standards In May 2014, No. 2014 09, Revenue from Contracts with Customers (Topic 606 August 2015 March, April, May December 2016, 606, 606, 606 December 15, 2017, one The Company adopted the new standard effective January 1, 2018 no no no In May 2017, 2017 09, Compensation - Stock Compensation (Topic 718 Scope of Modification Accounting 718. not ● The award’s fair value (or calculated value or intrinsic value, if those measurement methods are used), ● The award’s vesting conditions, and ● The award’s classification as an equity or liability instrument. ASU 2017 09 December 15, 2017 not 2017 09 January 1, 2018 not In November 2016, No. 2016 18, Statement of Cash Flows (Topic 230 No. 2016 18 No. 2016 18, not In August 2016, No. 2016 15, Statement of Cash Flows (Topic 230 eight December 15, 2017, 2016 15 January 1, 2018, not Recently Issued Accounting Standards In February 2016, No. 2016 02, Leases (Topic 842 December 15, 2018, 2019. not may may

Note 2 - Investments and Fair V

Note 2 - Investments and Fair Value Measurement	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Investments and Fair Value Measurement Disclosure [Text Block]	2. Investments The Company classifies its marketable securities as available-for-sale and records its investments at fair value. Available-for-sale securities are carried at estimated fair value based on quoted market prices or observable market inputs of almost identical assets, with the unrealized holding gains and losses included in accumulated other comprehensive income. Marketable securities which have maturities beyond one The table below summarizes the Company’s cash, cash equivalents and investments (in thousands): As of June 30 , 2018 Amortized Cost Gross Unrealized Gross Unrealized Losses Fair Cash and cash equivalents: Cash and money market funds $ 19,267 $ — $ — $ 19,267 U.S. government agency securities 14,006 — — 14,006 Total cash and cash equivalents $ 33,273 $ — $ — $ 33,273 Marketable securities: U.S. government agency securities $ 16,849 $ — $ — $ 16,849 Total marketable securities $ 16,849 $ — $ — $ 16,849 Total cash, cash equivalents and investments $ 50,122 $ — $ — $ 50,122 As of December 31, 2017 Amortized Cost Gross Unrealized Gross Unrealized Fair Cash and cash equivalents: Cash $ 29,765 $ — $ — $ 29,765 U.S. government agency securities 23,137 — — 23,137 Total cash and cash equivalents $ 52,902 $ — $ — $ 52,902 Marketable securities: U.S. government agency securities $ 7,567 $ — $ — $ 7,567 Total marketable securities $ 7,567 $ — $ — $ 7,567 Total cash, cash equivalents and investments $ 60,469 $ — $ — $ 60,469 As of June 30, 2018 December 31, 2017, none no June 30, 2018 December 31, 2017. No no three six June 30, 2018 June 30, 2017. As of June 30, 2018 December 31, 2017, one Fair Value Measurement The Company’s financial instruments consist of Level II assets and Level III liabilities. For Level II instruments, the Company estimates fair value by utilizing third March 2, 2017, 2014 1 two The following table sets forth the fair value of the Company’s financial assets and liabilities by level within the fair value hierarchy (in thousands): As of June 30 , 2018 Fair Value Level I Level II Level III Assets U.S. government agency obligations $ 30,855 $ — $ 30,855 $ — Total assets measured at fair value $ 30,855 $ — $ 30,855 $ — Liabilities Contingent put option liability $ 166 $ — $ — $ 166 Total liabilities measured at fair value $ 166 $ — $ — $ 166 As of December 31, 2017 Fair Value Level I Level II Level III Assets U.S. government agency obligations $ 30,704 $ — $ 30,704 $ — Total assets measured at fair value $ 30,704 $ — $ 30,704 $ — Liabilities Contingent put option liability $ 207 $ — — $ 207 Total liabilities measured at fair value $ 207 $ — $ — $ 207 As of June 30, 2017, June 2012. November 2017. The following tables set forth a summary of the changes in the fair value of the Company’s Level III financial liabilities for the three six June 30, 2018 June 30, 2017 ( Three Months 8 Six Months 8 Fair value—beginning of period $ 186 $ 207 Change in fair value of contingent put option associated with Amended Loan Agreement (20 ) (41 ) Fair value—end of period $ 166 $ 166 Three Months Six Months Fair value—beginning of period $ 609 $ 412 Change in fair value of PIPE warrants (267 ) (260 ) Change in fair value of contingent put option associated with Amended Loan Agreement (54 ) 136 Fair value—end of period $ 288 $ 288

Note 3 - Inventories

Note 3 - Inventories	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Inventory Disclosure [Text Block]	3. Inventories consist of finished goods, raw materials and work in process and are stated at the lower of cost or net realizable value and consist of the following (in thousands): Balance as of June 30 , 2018 December 31, 2017 Raw materials $ 663 $ 702 Work-in-process — 254 Total $ 663 $ 956

Note 4 - Adoption of ASC Topic

Note 4 - Adoption of ASC Topic 606, Revenue from Contracts with Customers	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	4 Adoption of ASC Topic 606, Revenue from Contracts with Customers On January 1, 2018, 606 not January 1, 2018. January 1, 2018, 606, not 605. no January 1, 2018. Revenue Recognition As described in Note 1 June 30, 2018, $3.6 2029. For additional detail on the Company’s accounting policy regarding revenue recognition, refer to Note 1 The following table presents changes in the Company’s contract liabilities for the six June 30, 2018: Balance at Beginning of the Period Additions Deductions Balance at the end of the Period (in thousands) Contract liability: Deferred revenue $ 3,825 $ - $ (182 ) $ 3,643 During the three six June 30, 2018, Three months ended June 30, 2018 Six months ended June 30, 2018 Amounts included in contract liabilities at the beginning of the period: Performance obligations satisfied – Amended Agreements $ 91 $ 182 New activities in the period from performance obligations satisfied: Performance obligations satisfied – Amended Agreements 239 392 Total revenue from performance obligations satisfied $ 330 $ 574 Royalty revenue 21 51 Contract and other 467 536 Total revenue $ 818 $ 1,161

Note 5 - U.S. Department of Def

Note 5 - U.S. Department of Defense	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Long-term Contracts or Programs Disclosure [Text Block]	5 . U.S. Department of Defense On May 11, 2015, $17.0 30 May 11, 2015. March 2, 2016, SAP302 SAP303 four November 10, 2016 March 9, 2017, SAP302 SAP303 March 9, 2017, 11 February 28, 2018 December 31, 2017, February 28, 2018 February 28, 2018, $0.5 twelve February 28, 2019. Revenue is recognized based on expenses incurred by the Company in conducting research and development activities, including overhead, as set forth in the agreement. Revenue attributable to the research and development performed under the DoD Contract, recorded as contract and other revenue in the condensed consolidated statements of comprehensive loss, was $0.4 $0.5 three six June 30, 2018, $0.5 $0.6 three six June 30, 2017,

Note 6 - Collaboration Agreemen

Note 6 - Collaboration Agreement	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Collaborative Arrangement Disclosure [Text Block]	6 . Collaboration Agreement As described in Note 1 Amended License Agreement Under the Amended License Agreement, the Company is eligible to receive approximately $194.5 $28.5 $166.0 8 Amended MSA Under the terms of the Amended MSA, the Company will manufacture and supply the Product for use in the Field for the Territory exclusively for Grünenthal. The Product will be supplied at prices approximating the Company’s manufacturing cost, subject to certain caps, as defined in the MSA Amendment. The MSA Amendment requires the Company to use commercially reasonable efforts to enter stand-by contracts with third third Unless earlier terminated, the Amended MSA continues in effect until the later of the expiration of the obligation of Grünenthal to make royalty and supply and trademark fee payments or the end of any transition period for manufacturing obligations due to the expiration or termination of the Amended License Agreement. The Amended MSA is subject to earlier termination in connection with certain termination events in the Amended License Agreement, in the event the parties mutually agree, by a party in the event of an uncured material breach by the other party or upon the bankruptcy or insolvency of either party. During the three six June 30, 2018, $0.3 $0.6 $0.1 $0.2 three six June 30, 2017, $2.2 $5.2 June 30, 2018, $0.3 $3.3 February 2016 2029.

Note 7 - Long-term Debt

Note 7 - Long-term Debt	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Long-term Debt [Text Block]	7 . Long-Term Debt Amended Loan Agreement The Company has long-term debt with Hercules under the Amended Loan Agreement that requires equal monthly payments of principal and interest through the scheduled maturity date of March 1, 2020. 6.5% $20.5 The accrued balance due under the Amended Loan Agreement was $15.7 June 30, 2018 $19.1 December 31, 2017. $0.6 $0.1 three June 30, 2018, $1.2 $0.3 six June 30, 2018. $0.9 $0.4 three June 30, 2017, $1.7 $0.7 six June 30, 2017.

Note 8 - Liability Related to S

Note 8 - Liability Related to Sale of Future Royalties	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Liability Related To Sale Of Future Royalties Disclosure [Text Block]	8 . Liability Related to Sale of Future Royalties On September 18, 2015, $65.0 75% 80% first four $35.6 80% $44.5 $195.0 The following table shows the activity within the liability account during the six June 30, 2018 ( Six months ended June 30 , Period from inception to June 30 , Liability related to sale of future royalties — beginning balance $ 83,588 $ — Proceeds from sale of future royalties — 61,184 Non-cash royalty revenue (120 ) (247 ) Non-cash interest expense recognized 5,811 28,342 Liability related to sale of future royalties as of June 30, 2018 89,279 89,279 Less: current portion (384 ) (384 ) Liability related to sale of future royalties — net of current portion $ 88,895 $ 88,895 As royalties are remitted to PDL from the Company’s subsidiary, ARPI LLC, as described in Note 1

Note 9 - Warrants

Note 9 - Warrants	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Warrants Disclosure [Text Block]	9 . Warrants Amended Loan Agreement Warrants In connection with the Company’s Amended Loan Agreement, warrants to purchase 176,730 $3.07 June 30, 2018, not December 2018.

Note 10 - Stock-based Compensat

Note 10 - Stock-based Compensation	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	1 0 . Stock-Based Compensation The Company recorded total stock-based compensation expense for stock options, stock awards and the 2011 Three Months Ended Six Months Ended 201 8 2017 201 8 2017 Cost of goods sold $ 74 $ 79 $ 161 $ 163 Research and development 377 448 809 985 General and administrative 597 551 1,158 1,074 Total $ 1,048 $ 1,078 $ 2,128 $ 2,222 As of June 30, 2018, 1,277,823 11,582,233 no 2011 948,959

Note 11 - Stockholders' Equity

Note 11 - Stockholders' Equity	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	1 1 . Stockholders’ Equity Common Stock 2016 During the three six June 30, 2018, 2.3 2016 $7.4 $0.2

Note 12 - Net Loss Per Share of

Note 12 - Net Loss Per Share of Common Stock	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Earnings Per Share [Text Block]	1 2 . Net Loss per Share of Common Stock The Company’s basic net loss per share of common stock is calculated by dividing the net loss by the weighted average number of shares of common stock outstanding for the period. The diluted net loss per share of common stock is computed by giving effect to all potential common stock equivalents outstanding for the period determined using the treasury stock method. For purposes of this calculation, options to purchase common stock and warrants to purchase common stock were considered to be common stock equivalents. In periods with a reported net loss, common stock equivalents are excluded from the calculation of diluted net loss per share of common stock if their effect is antidilutive. The following outstanding shares of common stock equivalents were excluded from the computation of diluted net loss per share of common stock for the periods presented because including them would have been antidilutive: June 30 , 201 8 201 7 ESPP and stock options to purchase common stock 11,779,042 8,700,169 Common stock warrants 176,730 689,186

Note 13 - Subsequent Event

Note 13 - Subsequent Event	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Subsequent Events [Text Block]	1 3 . Subsequent Event On July 16, 2018, 7,272,727 $2.75 $20.0 $18.7 30 1,090,909 $2.75

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, ARPI LLC, which was formed in September 2015 8
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and the rules and regulations of the U.S. Securities and Exchange Commission, or SEC. Accordingly, they do not Operating results for the three six June 30, 2018, not may December 31, 2018. December 31, 2017, December 31, 2017, 10 10 December 31, 2017,
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Management evaluates its estimates on an ongoing basis including critical accounting policies. Estimates are based on historical experience and on various other market-specific and other relevant assumptions that the Company believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition Beginning January 1, 2018, 606, Revenue from Contracts with Customers The Company generates revenue from collaboration agreements. These agreements typically include payments for upfront signing or license fees, cost reimbursements for development and manufacturing services, milestone payments, product sales, and royalties on licensee’s future product sales. The Company has entered into award contracts with U.S. Department of Defense, or the DoD, to support the development of DSUVIA. These contracts provide for the reimbursement of qualified expenses for research and development activities. Revenue under these arrangements is recognized when the related qualified research expenses are incurred. The Company is entitled to reimbursement of overhead costs associated with the study costs under the DoD arrangements. The Company estimates this overhead rate by utilizing forecasted expenditures. Final reimbursable overhead expenses are dependent on direct labor and direct reimbursable expenses throughout the life of each contract, which may In determining the appropriate amount of revenue to be recognized as it fulfills its obligations under its agreements, the Company performs the following steps: (i) identification of the promised goods or services in the contract; (ii) determination of whether the promised goods or services are performance obligations including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations based on estimated selling prices; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. Performance Obligations A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account in ASC Topic 606. The Company has optional additional items in contracts, which are considered marketing offers and are accounted for as separate contracts when the customer elects such options. Arrangements that include a promise for future commercial product supply and optional research and development services at the customer’s or the Company’s discretion are generally considered as options. The Company assesses if these options provide a material right to the licensee and if so, such material rights are accounted for as separate performance obligations. If the Company is entitled to additional payments when the customer exercises these options, any additional payments are recorded in revenue when the customer obtains control of the goods or services. Transaction Price The Company has both fixed and variable consideration. Non-refundable upfront fees and product supply selling prices are considered fixed, while milestone payments are identified as variable consideration when determining the transaction price. Funding of research and development activities is considered variable until such costs are reimbursed at which point they are considered fixed. The Company allocates the total transaction price to each performance obligation based on the relative estimated standalone selling prices of the promised goods or services for each performance obligation. At the inception of each arrangement that includes milestone payments, the Company evaluates whether the milestones are considered probable of being achieved and estimates the amount to be included in the transaction price using the most likely amount method. If it is probable that a significant revenue reversal would not not not For arrangements that include sales-based royalties, including milestone payments based on the level of sales, and the license is deemed to be the predominant item to which the royalties relate, the Company recognizes revenue at the later of (a) when the related sales occur, or (b) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied). Allocation of Consideration As part of the accounting for these arrangements, the Company must develop assumptions that require judgment to determine the stand-alone selling price of each performance obligation identified in the contract. Estimated selling prices for license rights and material rights for discounts on manufacturing services are calculated using an income approach model and can include the following key assumptions: the development timeline, sales forecasts, costs of product sales, commercialization expenses, discount rate, the time which the manufacturing services are expected to be performed, and probabilities of technical and regulatory success. For all other performance obligations, the Company uses a cost-plus margin approach. Timing of Recognition Significant management judgment is required to determine the level of effort required under an arrangement and the period over which the Company expects to complete its performance obligations under the arrangement. The Company estimates the performance period or measure of progress at the inception of the arrangement and re-evaluates it each reporting period. This re-evaluation may Significant Accounting Policies The Company’s significant accounting policies are detailed in its Annual Report on Form 10 December 31, 2017. 606 4 606, Revenue from Contracts with Customers no three six June 30, 2018, 2017 10
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Standards In May 2014, No. 2014 09, Revenue from Contracts with Customers (Topic 606 August 2015 March, April, May December 2016, 606, 606, 606 December 15, 2017, one The Company adopted the new standard effective January 1, 2018 no no no In May 2017, 2017 09, Compensation - Stock Compensation (Topic 718 Scope of Modification Accounting 718. not ● The award’s fair value (or calculated value or intrinsic value, if those measurement methods are used), ● The award’s vesting conditions, and ● The award’s classification as an equity or liability instrument. ASU 2017 09 December 15, 2017 not 2017 09 January 1, 2018 not In November 2016, No. 2016 18, Statement of Cash Flows (Topic 230 No. 2016 18 No. 2016 18, not In August 2016, No. 2016 15, Statement of Cash Flows (Topic 230 eight December 15, 2017, 2016 15 January 1, 2018, not Recently Issued Accounting Standards In February 2016, No. 2016 02, Leases (Topic 842 December 15, 2018, 2019. not may may

Reconciliation of Cash, Cash 21

Reconciliation of Cash, Cash Equivalents, and Restricted Cash (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Schedule of Cash and Cash Equivalents [Table Text Block]	June 30 , June 30 , 2018 2017 Cash and cash equivalents 33,273 62,148 Restricted cash 178 178 Cash, cash equivalents and restricted cash shown in the statement of cash flows 33,451 62,326

Note 2 - Investments and Fair22

Note 2 - Investments and Fair Value Measurement (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Cash, Cash Equivalents and Investments [Table Text Block]	As of June 30 , 2018 Amortized Cost Gross Unrealized Gross Unrealized Losses Fair Cash and cash equivalents: Cash and money market funds $ 19,267 $ — $ — $ 19,267 U.S. government agency securities 14,006 — — 14,006 Total cash and cash equivalents $ 33,273 $ — $ — $ 33,273 Marketable securities: U.S. government agency securities $ 16,849 $ — $ — $ 16,849 Total marketable securities $ 16,849 $ — $ — $ 16,849 Total cash, cash equivalents and investments $ 50,122 $ — $ — $ 50,122 As of December 31, 2017 Amortized Cost Gross Unrealized Gross Unrealized Fair Cash and cash equivalents: Cash $ 29,765 $ — $ — $ 29,765 U.S. government agency securities 23,137 — — 23,137 Total cash and cash equivalents $ 52,902 $ — $ — $ 52,902 Marketable securities: U.S. government agency securities $ 7,567 $ — $ — $ 7,567 Total marketable securities $ 7,567 $ — $ — $ 7,567 Total cash, cash equivalents and investments $ 60,469 $ — $ — $ 60,469
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	As of June 30 , 2018 Fair Value Level I Level II Level III Assets U.S. government agency obligations $ 30,855 $ — $ 30,855 $ — Total assets measured at fair value $ 30,855 $ — $ 30,855 $ — Liabilities Contingent put option liability $ 166 $ — $ — $ 166 Total liabilities measured at fair value $ 166 $ — $ — $ 166 As of December 31, 2017 Fair Value Level I Level II Level III Assets U.S. government agency obligations $ 30,704 $ — $ 30,704 $ — Total assets measured at fair value $ 30,704 $ — $ 30,704 $ — Liabilities Contingent put option liability $ 207 $ — — $ 207 Total liabilities measured at fair value $ 207 $ — $ — $ 207
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Three Months 8 Six Months 8 Fair value—beginning of period $ 186 $ 207 Change in fair value of contingent put option associated with Amended Loan Agreement (20 ) (41 ) Fair value—end of period $ 166 $ 166 Three Months Six Months Fair value—beginning of period $ 609 $ 412 Change in fair value of PIPE warrants (267 ) (260 ) Change in fair value of contingent put option associated with Amended Loan Agreement (54 ) 136 Fair value—end of period $ 288 $ 288

Note 3 - Inventories (Tables)

Note 3 - Inventories (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Schedule of Inventory, Current [Table Text Block]	Balance as of June 30 , 2018 December 31, 2017 Raw materials $ 663 $ 702 Work-in-process — 254 Total $ 663 $ 956

Note 4 - Adoption of ASC Topi24

Note 4 - Adoption of ASC Topic 606, Revenue from Contracts with Customers (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Contract with Customer, Asset and Liability [Table Text Block]	Balance at Beginning of the Period Additions Deductions Balance at the end of the Period (in thousands) Contract liability: Deferred revenue $ 3,825 $ - $ (182 ) $ 3,643
Disaggregation of Revenue [Table Text Block]	Three months ended June 30, 2018 Six months ended June 30, 2018 Amounts included in contract liabilities at the beginning of the period: Performance obligations satisfied – Amended Agreements $ 91 $ 182 New activities in the period from performance obligations satisfied: Performance obligations satisfied – Amended Agreements 239 392 Total revenue from performance obligations satisfied $ 330 $ 574 Royalty revenue 21 51 Contract and other 467 536 Total revenue $ 818 $ 1,161

Note 8 - Liability Related to25

Note 8 - Liability Related to Sale of Future Royalties (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Other Liabilities [Table Text Block]	Six months ended June 30 , Period from inception to June 30 , Liability related to sale of future royalties — beginning balance $ 83,588 $ — Proceeds from sale of future royalties — 61,184 Non-cash royalty revenue (120 ) (247 ) Non-cash interest expense recognized 5,811 28,342 Liability related to sale of future royalties as of June 30, 2018 89,279 89,279 Less: current portion (384 ) (384 ) Liability related to sale of future royalties — net of current portion $ 88,895 $ 88,895

Note 10 - Stock-based Compens26

Note 10 - Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Three Months Ended Six Months Ended 201 8 2017 201 8 2017 Cost of goods sold $ 74 $ 79 $ 161 $ 163 Research and development 377 448 809 985 General and administrative 597 551 1,158 1,074 Total $ 1,048 $ 1,078 $ 2,128 $ 2,222

Note 12 - Net Loss Per Share 27

Note 12 - Net Loss Per Share of Common Stock (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	June 30 , 201 8 201 7 ESPP and stock options to purchase common stock 11,779,042 8,700,169 Common stock warrants 176,730 689,186

Reconciliation of Cash, Cash 28

Reconciliation of Cash, Cash Equivalents, and Restricted Cash - Schedule of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017		Jun. 30, 2017	Dec. 31, 2016
Cash and cash equivalents	$ 33,273	$ 52,902	[1]	$ 62,148
Restricted cash	178			178
Cash, cash equivalents and restricted cash shown in the statement of cash flows	$ 33,451	$ 53,080		$ 62,326	$ 80,488
[1]	The condensed consolidated balance sheet as of December 31, 2017 has been derived from the audited financial statements as of that date included in the Company's Annual Report on Form 10-K for the year ended December 31, 2017.

Note 2 - Investments and Fair29

Note 2 - Investments and Fair Value Measurement (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Available-for-sale Securities, Gross, Unrealized Gain (Loss) Accumulated In Investments	$ 0		$ 0		$ 0
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities, Total			0		$ 0
Available-for-sale Securities, Gross Realized Gain (Loss), Total	0	$ 0	0	$ 0
Other Comprehensive Income (Loss), Transfers from Held-to-maturity to Available-for-Sale Securities, Net of Tax	$ 0	$ 0	$ 0	$ 0

Note 2 - Investments and Fair30

Note 2 - Investments and Fair Value Measurement - Summary of Cash, Cash Equivalents and Investments (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Amortized Cost	$ 50,122	$ 60,469
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value	50,122	60,469
Cash and Cash Equivalents [Member]
Amortized Cost	33,273	52,902
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value	33,273	52,902
Cash and Cash Equivalents [Member] | Cash and Money Market Funds [Member]
Amortized Cost	19,267
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value	19,267
Cash and Cash Equivalents [Member] | Cash [Member]
Amortized Cost		29,765
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value		29,765
Cash and Cash Equivalents [Member] | U.S. Government Agency Securities [Member]
Amortized Cost	14,006	23,137
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value	14,006	23,137
Marketable Securities [Member]
Amortized Cost	16,849	7,567
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value	16,849	7,567
Marketable Securities [Member] | U.S. Government Agency Securities [Member]
Amortized Cost	16,849	7,567
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value	$ 16,849	$ 7,567

Note 2 - Investments and Fair31

Note 2 - Investments and Fair Value Measurement - Fair Value of Financial Assets and Liabilities by Level Within Fair Value Hierarchy (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Assets, fair value	$ 30,855	$ 30,704
Liabilities, fair value	166	207
Contingent Put Option Liability [Member]
Liabilities, fair value	166	207
Fair Value, Inputs, Level 1 [Member]
Assets, fair value
Liabilities, fair value
Fair Value, Inputs, Level 1 [Member] | Contingent Put Option Liability [Member]
Liabilities, fair value
Fair Value, Inputs, Level 2 [Member]
Assets, fair value	30,855	30,704
Liabilities, fair value
Fair Value, Inputs, Level 2 [Member] | Contingent Put Option Liability [Member]
Liabilities, fair value
Fair Value, Inputs, Level 3 [Member]
Assets, fair value
Liabilities, fair value	166	207
Fair Value, Inputs, Level 3 [Member] | Contingent Put Option Liability [Member]
Liabilities, fair value	166	207
U.S. Government Agency Obligations [Member]
Assets, fair value	30,855	30,704
U.S. Government Agency Obligations [Member] | Fair Value, Inputs, Level 1 [Member]
Assets, fair value
U.S. Government Agency Obligations [Member] | Fair Value, Inputs, Level 2 [Member]
Assets, fair value	30,855	30,704
U.S. Government Agency Obligations [Member] | Fair Value, Inputs, Level 3 [Member]
Assets, fair value

Note 2 - Investments and Fair32

Note 2 - Investments and Fair Value Measurement - Summary of Changes in Fair Value of Level III Financial Liabilities (Details) - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Fair value, Beginning of period	$ 186	$ 609	$ 207	$ 412
Change in fair value of PIPE warrants		(267)		(260)
Fair value, End of period	166	288	166	288
Hercules 2011 Loan and Security Agreement [Member]
Change in fair value of contingent put option associated with Amended Loan Agreement	$ (20)	$ (54)	$ (41)	$ 136

Note 3 - Inventories - Inventor

Note 3 - Inventories - Inventory Components (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Raw materials	$ 663	$ 702
Work-in-process		254
Total	$ 663	$ 956	[1]
[1]	The condensed consolidated balance sheet as of December 31, 2017 has been derived from the audited financial statements as of that date included in the Company's Annual Report on Form 10-K for the year ended December 31, 2017.

Note 4 - Adoption of ASC Topi34

Note 4 - Adoption of ASC Topic 606, Revenue from Contracts with Customers (Details Textual) $ in Millions	6 Months Ended
	Jun. 30, 2018USD ($)
Discount on Manufacturing Services	$ 3.6

Note 4 - Adoption of ASC Topi35

Note 4 - Adoption of ASC Topic 606, Revenue from Contracts with Customers - Changes in Contract Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2018
Contract Liabilities: Deferred Revenue		$ 3,825
Contract Liabilities: Deferred Revenue, Deductions	$ (91)	(182)
Contract Liabilities: Deferred Revenue	$ 3,643	$ 3,643

Note 4 - Adoption of ASC Topi36

Note 4 - Adoption of ASC Topic 606, Revenue from Contracts with Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Amounts included in contract liabilities at the beginning of the period: Performance obligations satisfied – Amended Agreements	$ 91		$ 182
New activities in the period from performance obligations satisfied: Performance obligations satisfied – Amended Agreements	239		392
Total revenue from performance obligations satisfied	330		574
Revenue	818	$ 2,659	1,161	$ 5,768
Royalty Revenue [Member]
Revenue	21		51
Contract and Other [Member]
Revenue	$ 467	$ 467	$ 536	$ 549

Note 5 - U.S. Department of D37

Note 5 - U.S. Department of Defense (Details Textual) - USD ($) $ in Thousands	Feb. 28, 2018	Mar. 09, 2017	Mar. 02, 2016	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	May 11, 2015
Government Contract Receivable								$ 17,000
Revenue from Contract with Customer, Including Assessed Tax				$ 330		$ 574
Amendment to DoD Contract Incorporate Additional Services [Member]
Government Contract Receivable	$ 500
Award Contract Renewal Term	1 year
Government [Member]
Award Contract Renewal Term		330 days	120 days
Government [Member] | Contract and Other Revenue [Member]
Revenue from Contract with Customer, Including Assessed Tax				$ 400	$ 500	$ 500	$ 600

Note 6 - Collaboration Agreem38

Note 6 - Collaboration Agreement (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017	[1]	Jul. 17, 2015
Revenue Recognition Milestone Method Agreed, Additional Amount, Based On Efforts And Targets							$ 194,500
Revenue Recognition, Revenue Allocation On Collaboration Agreement	$ 300	$ 2,200	$ 600	$ 5,200
Non-cash Royalty Revenue Related to Royalty Monetization	100		155	$ 46
Deferred Revenue, Current	338		338		$ 362
Deferred Revenue, Noncurrent	$ 3,305		$ 3,305		$ 3,463
Based upon Successful Regulatory and Product Development Efforts [Member]
Revenue Recognition Milestone Method Agreed, Additional Amount, Based On Efforts And Targets							28,500
Based upon Net Sales Target Achievements [Member]
Revenue Recognition Milestone Method Agreed, Additional Amount, Based On Efforts And Targets							$ 166,000
[1]	The condensed consolidated balance sheet as of December 31, 2017 has been derived from the audited financial statements as of that date included in the Company's Annual Report on Form 10-K for the year ended December 31, 2017.

Note 7 - Long-term Debt (Detail

Note 7 - Long-term Debt (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Interest Expense, Total	$ 586	$ 903	$ 1,229	$ 1,677
Amortization of Debt Discount (Premium)			$ 344	471
Amended and Restated Loan and Security Agreement [Member]
Debt Instrument, Final Payment, Percentage of Aggregate Principal Amount	6.50%		6.50%
Hercules Loan and Security Agreement [Member]
Long-term Line of Credit, Total	$ 15,700		$ 15,700		$ 19,100
Interest Expense, Total	600	900	1,200	1,700
Amortization of Debt Discount (Premium)	100	$ 400	300	$ 700
Hercules Loan and Security Agreement [Member] | First Tranche [Member]
Debt Instrument, Face Amount	$ 20,500		$ 20,500

Note 8 - Liability Related to40

Note 8 - Liability Related to Sale of Future Royalties (Details Textual) $ in Millions	Sep. 18, 2015USD ($)
Proceeds From Sale of Royalty and Milestone Rights	$ 65
Royalty Arrangment Maximum Payments	$ 195
PDL [Member]
Percentage of Royalties and Rights Under Agreement	75.00%
PDL [Member] | First Four Commercial Milestones [Member]
Percentage of Royalties and Rights Under Agreement	80.00%
Commercial Milestones Value Maximum Amount Available	$ 35.6
AcelRX [Member] | First Four Commercial Milestones [Member]
Commercial Milestones Value Maximum Amount Available	$ 44.5

Note 8 - Liability Related to41

Note 8 - Liability Related to Sale of Future Royalties - Activity of Liability Related to Sale of Future Royalties (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		33 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Dec. 31, 2017	[1]
Liability related to sale of future royalties — beginning balance			$ 83,588
Proceeds from sale of future royalties					61,184
Non-cash royalty revenue			(120)		(247)
Non-cash interest expense recognized	$ 2,995	$ 2,609	5,811	$ 5,167	28,342
Liability related to sale of future royalties as of June 30, 2018	89,279		89,279		89,279
Less: current portion	(384)		(384)		(384)	$ (604)
Liability related to sale of future royalties — net of current portion	$ 88,895		$ 88,895		$ 88,895	$ 82,984
[1]	The condensed consolidated balance sheet as of December 31, 2017 has been derived from the audited financial statements as of that date included in the Company's Annual Report on Form 10-K for the year ended December 31, 2017.

Note 9 - Warrants (Details Text

Note 9 - Warrants (Details Textual) - Hercules Warrants [Member] - $ / shares	6 Months Ended
	Jun. 30, 2018	Mar. 02, 2018
Class of Warrant or Right, Number of Securities Called by Warrants or Rights		176,730
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 3.07
Common Stock Warrants Exercised	0

Note 10 - Stock-based Compens43

Note 10 - Stock-based Compensation (Details Textual)	Jun. 30, 2018shares
2011 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	1,277,823
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance	11,582,233
2011 Equity Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance	0
Employee Stock Purchase Plan (ESPP) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	948,959

Note 10 - Stock-based Compens44

Note 10 - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Stock-based compensation expense	$ 1,048	$ 1,078	$ 2,128	$ 2,222
Cost of Sales [Member]
Stock-based compensation expense	74	79	161	163
Research and Development Expense [Member]
Stock-based compensation expense	377	448	809	985
General and Administrative Expense [Member]
Stock-based compensation expense	$ 597	$ 551	$ 1,158	$ 1,074

Note 11 - Stockholders' Equity

Note 11 - Stockholders' Equity (Details Textual) - USD ($) shares in Millions, $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2018
Stock Issued During Period, Shares, New Issues	2.3	2.3
Proceeds from Issuance of Common Stock, Net	$ 7.4	$ 7.4
Payments of Stock Issuance Costs	$ 0.2	$ 0.2

Note 12 - Net Loss Per Share 46

Note 12 - Net Loss Per Share of Common Stock - Common Stock Excluded from Computation of Diluted Net Loss Per Share (Details) - shares	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
ESPP and Employee Stock Options [Member]
Antidilutive securities (in shares)	11,779,042	8,700,169
Warrant [Member]
Antidilutive securities (in shares)	176,730	689,186

Note 13 - Subsequent Event (Det

Note 13 - Subsequent Event (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	Jul. 16, 2018	Jun. 30, 2018	Jun. 30, 2018	Jun. 30, 2017
Stock Issued During Period, Shares, New Issues		2,300,000	2,300,000
Proceeds from Issuance of Common Stock			$ 7,407
Subsequent Event [Member] | Underwritten Public Offering [Member]
Stock Issued During Period, Shares, New Issues	7,272,727
Shares Issued, Price Per Share	$ 2.75
Proceeds from Issuance of Common Stock	$ 20,000
Proceeds from Issuance of Underwritten Public Offering, Net of Discounts and Commissions	$ 18,700
Subsequent Event [Member] | Over-Allotment Option [Member]
Shares Issued, Price Per Share	$ 2.75
Underwritten Public Offering, Additional Shares for Period of Thirty Days, Maximum	1,090,909