Talphera (TLPH) 10-Q 9 May 19 2019 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2019	May 02, 2019
Document Information [Line Items]
Entity Registrant Name	ACELRX PHARMACEUTICALS INC
Entity Central Index Key	0001427925
Trading Symbol	acrx
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Common Stock, Shares Outstanding (in shares)		78,914,170
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Assets
Cash and cash equivalents	$ 73,312	$ 87,975	[1]
Short-term investments	16,838	17,740	[1]
Accounts receivable, net	221	49	[1]
Tax receivable	352	352	[1]
Inventories	2,403	854	[1]
Prepaid expenses and other current assets	2,219	1,024	[1]
Total current assets	95,345	107,994	[1]
Operating lease right-of-use assets	4,517		[1]
Property and equipment, net	12,153	11,483	[1]
Restricted cash	178	178	[1]
Long-term tax receivable	351	351	[1]
Other assets	900	527	[1]
Total Assets	113,444	120,533	[1]
Liabilities and Stockholders’ (Deficit) Equity
Accounts payable	3,698	2,070	[1]
Accrued liabilities	3,578	4,540	[1]
Long-term debt, current portion	10,026	8,611	[1]
Deferred revenue, current portion	437	315	[1]
Operating lease liabilities, current portion	729		[1]
Liability related to the sale of future royalties, current portion	477	392	[1]
Total current liabilities	18,945	15,928	[1]
Long-term debt, net of current portion		3,380	[1]
Deferred revenue, net of current portion	3,069	3,148	[1]
Operating lease liabilities, net of current portion	4,429		[1]
Liability related to the sale of future royalties, net of current portion	94,741	93,287	[1]
Other long-term liabilities	151	537	[1]
Total liabilities	121,335	116,280	[1]
Commitments and Contingencies
Stockholders’ (Deficit) Equity:
Common stock, $0.001 par value—100,000,000 shares authorized as of March 31, 2019 and December 31, 2018; 78,856,648 and 78,757,930 shares issued and outstanding as of March 31, 2019 and December 31, 2018	79	78	[1]
Additional paid-in capital	350,570	349,194	[1]
Accumulated deficit	(358,540)	(345,019)
Total stockholders’ (deficit) equity	(7,891)	4,253
Total Liabilities and Stockholders’ (Deficit) Equity	$ 113,444	$ 120,533	[1]
[1]	The condensed consolidated balance sheet as of December 31, 2018 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, 2018.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
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)	78,856,648	78,757,930
Common stock, outstanding (in shares)	78,856,648	78,757,930

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenue:
Revenue	$ 265	$ 343
Operating costs and expenses:
Cost of goods sold	1,230	1,114
Research and development	1,377	3,513
Selling, general and administrative	9,976	3,985
Total operating costs and expenses	12,583	8,612
Loss from operations	(12,318)	(8,269)
Other (expense) income:
Interest expense	(376)	(643)
Interest income and other income (expense), net	627	136
Non-cash interest expense on liability related to future sale of royalties	(1,607)	(2,816)
Total other expense	(1,356)	(3,323)
Net loss	(13,674)	(11,592)
Comprehensive loss	$ (13,674)	$ (11,592)
Net loss per share of common stock, basic and diluted (in dollars per share)	$ (0.17)	$ (0.23)
Shares used in computing net loss per share of common stock, basic and diluted (in shares)	78,788,790	50,930,943
Product [Member]
Revenue:
Revenue	$ 47
Collaboration Agreement Revenue [Member]
Revenue:
Revenue	218	274
Contract and Other [Member]
Revenue:
Revenue		$ 69

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' (Deficit) Equity (Unaudtied) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance (in shares) at Dec. 31, 2017	50,899,154
Balance at Dec. 31, 2017	$ 51	$ 261,310	$ (297,870)		$ (36,509)
Stock-based compensation		1,080			1,080
Issuance of common stock upon ESPP purchase (in shares)	92,290
Issuance of common stock upon ESPP purchase		141			141
Net loss			(11,592)		(11,592)
Balance (in shares) at Mar. 31, 2018	50,991,444
Balance at Mar. 31, 2018	$ 51	262,531	(309,462)		(46,880)
Balance (in shares) at Dec. 31, 2018	78,757,930
Balance at Dec. 31, 2018	$ 78	349,194	(345,019)		4,253
Cumulative effect adjustment for adoption of ASU No. 2016-02 (Accounting Standards Update 2016-02 [Member]) at Dec. 31, 2018			153		153
Stock-based compensation		1,107			1,107
Issuance of common stock upon exercise of stock options (in shares)	13,583
Issuance of common stock upon exercise of stock options		31			31
Issuance of common stock upon ESPP purchase (in shares)	85,135
Issuance of common stock upon ESPP purchase	$ 1	238			239
Net loss			(13,674)		(13,674)
Balance (in shares) at Mar. 31, 2019	78,856,648
Balance at Mar. 31, 2019	$ 79	$ 350,570	$ (358,540)		$ (7,891)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities:
Net loss	$ (13,674,000)	$ (11,592,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Non-cash royalty revenue related to royalty monetization	(79,000)	(91,000)
Non-cash interest expense on liability related to royalty monetization	1,607,000	2,816,000
Depreciation and amortization	328,000	149,000
Non-cash interest expense related to debt financing	99,000	181,000
Stock-based compensation	1,107,000	1,080,000
Other	(150,000)	(32,000)
Changes in operating assets and liabilities:
Accounts receivable	(172,000)	761,000
Inventories	(1,549,000)	290,000
Prepaid expenses and other assets	(1,315,000)	(550,000)
Accounts payable	1,477,000	786,000
Accrued liabilities	(809,000)	(1,265,000)
Operating lease liabilities	(153,000)
Deferred rent		184,000
Deferred revenue	43,000	(91,000)
Net cash used in operating activities	(13,240,000)	(7,374,000)
Cash flows from investing activities:
Purchase of property and equipment	(658,000)	(208,000)
Purchase of investments	(3,871,000)	(995,000)
Proceeds from maturities of investments	4,900,000	1,000,000
Net cash provided by (used in) investing activities	371,000	(203,000)
Cash flows from financing activities:
Payment of long-term debt	(2,064,000)	(1,863,000)
Net proceeds from issuance of common stock through equity plans	270,000	141,000
Net cash used in financing activities	(1,794,000)	(1,722,000)
Net decrease in cash, cash equivalents and restricted cash	(14,663,000)	(9,299,000)
Cash, cash equivalents and restricted cash—Beginning of period	88,153,000	53,080,000
Cash, cash equivalents and restricted cash—End of period	$ 73,490,000	$ 43,781,000

Reconciliation of Cash, Cash Eq

Reconciliation of Cash, Cash Equivalents, and Restricted Cash	3 Months Ended
	Mar. 31, 2019
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): March 31, March 31, 2019 2018 Cash and cash equivalents 73,312 43,603 Restricted cash 178 178 Cash, cash equivalents and restricted cash shown in the statement of cash flows 73,490 43,781 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.

Note 1 - Organization and Summa

Note 1 - Organization and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2019
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 use in medically supervised settings. DSUVIA (known as DZUVEO in Europe) and Zalviso, are November 2, 2018, June 2018, first 2019. not may one not DSUVIA /DZUVEO DSUVIA, known as DZUVEO in Europe, approved by the FDA in November 2018, June 2018. DSUVIA was approved with a Risk Evaluation and Mitigation Strategy, or REMS, which restricts distribution to certified medically supervised healthcare settings in order to prevent respiratory depression resulting from accidental exposure. DSUVIA will only be distributed to facilities certified in the DSUVIA REMS program following attestation by an authorized representative to comply with appropriate dispensing and use restrictions of DSUVIA. To become certified, a healthcare setting will need to train their healthcare professionals on the proper use of DSUVIA and have the ability to manage respiratory depression. DSUVIA will not Zalviso Zalviso delivers 15 September 2013 July 25, 2014. IAP312, IAP312 August 2017, three 3 On December 16, 2013, July 17, 2015 September 20, 2016, September 2015, December 16, 2013, July 22, 2015, July 17, 2015. 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, November 2018 first 2019. 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 9 Reclassifications Certain prior year amounts in the condensed consolidated financial statements have been reclassified to conform to the current year's presentation. 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 March 31, 2019, not may December 31, 2019. December 31, 2018, December 31, 2018, 10 10 December 31, 2018, 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 Inventories Inventories are valued at the lower of cost and net realizable value. Cost is determined using the first first third November 2018. The Company's policy is to write down inventory that has become obsolete, inventory that has a cost basis in excess of its expected net realizable value and inventory in excess of expected requirements. The Company periodically evaluates the carrying value of inventory on hand for potential excess amount over demand using the same lower of cost or market approach as that used to value the inventory. Because the predetermined, contractual transfer prices the Company is receiving from Grünenthal are less than the direct costs of manufacturing, all Zalviso inventories are carried at net realizable value. Leases In February 2016, No. 2016 02, Leases (Topic 842 January 1, 2019. At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on the unique facts and circumstances present. Operating lease liabilities and their corresponding right-of-use assets are recorded based on the present value of lease payments over the expected lease term. The interest rate implicit in lease contracts is typically not may Lease expense is recognized over the expected term on a straight-line basis. Operating leases are recognized on the balance sheet as right-of-use assets, operating lease liabilities current and operating lease liabilities non-current. As a result, the Company no Revenue Recognition Beginning January 1, 2018, 606, Revenue from Contracts with Customers 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. Net product sales revenue Revenues from product sales are recognized when distributors obtain control of the Company’s product, which occurs at a point in time, upon delivery to such distributors. These distributors subsequently resell the product to certified medically supervised healthcare settings, such as hospitals, surgical centers, and emergency departments. In addition to distribution agreements with these customers, the Company enters into arrangements with group purchasing organizations, or GPOs, and/or privately-negotiated discounts with respect to the purchase of its products. Revenue from product sales is recorded at the transaction price, net of estimates for variable consideration consisting of discounts, returns and GPO discounts and administrative fees. Variable consideration is recorded at the time product sales are recognized resulting in a reduction in product revenue. Variable consideration is estimated using the most-likely amount method, which is the single-most likely outcome under a contract and is typically at the stated contractual rate. Actual amounts of consideration ultimately received may ● Distributor Fees – The Company offers contractually determined discounts to its Customers. These discounts are paid no two ● GPO Discounts - The Company offers discounts to GPO members. These discounts are taken when the GPO members purchase DSUVIA from the Company’s customers, who then charge the discount amount back to the Company. ● GPO Administrative Fees - The Company pays administrative fees to GPOs for services and access to data. These fees are based on contracted terms and are paid after the quarter in which the product was purchased by the GPOs’ members. ● Returns – The Company allows its Customers to return product for credit 12 may The Company believes its estimated allowance for product returns requires a high degree of judgment and is subject to change based on its experience and certain quantitative and qualitative factors. The Company believes its estimated allowances for distributor fees, GPO discounts and administrative fees do not Amounts accrued for product revenue allowances and related accruals are evaluated each reporting period and adjusted when trends or significant events indicate that a change in estimate is appropriate and to reflect actual experience. Product revenue-related liabilities are recorded in the Company’s condensed consolidated balance sheets as Accrued liabilities. The Company will continue to assess its estimates of variable consideration as it accumulates additional historical data and will adjust these estimates accordingly. Changes in sales allowance estimates could materially affect the Company’s results of operations and financial position. Collaboration agreement r evenue 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. Contract and other revenue 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 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. Variable consideration for product revenue is described as Net product sales in the condensed consolidated statements of comprehensive loss. For collaboration agreements, 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 collaboration 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 Revenues from product sales are recognized when distributors obtain control of the Company’s products, which occurs at a point in time, upon delivery to such distributors. Significant management judgment is required to determine the level of effort required under collaboration arrangements 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 Cost of Goods Sold Cost of goods sold for product revenue includes third Under the Amended Agreements with Grünenthal, the Company sells Zalviso to Grünenthal at predetermined, contractual transfer prices that are less than the direct costs of manufacturing and recognizes indirect costs as period costs where they are in excess of normal capacity and not third Significant Accounting Policies The Company’s significant accounting policies are detailed in its Annual Report on Form 10 December 31, 2018. No. 2016 02, Leases (Topic 842 8 no three March 31, 2019, 2018 10 Recently Adopted Accounting Standards On August 29, 2018, No. 2018 15, Intangibles – Goodwill and Other – Internal Use Software (Subtopic 350 40 ” The amendments in ASU No. 2018 15 ASU No. 2018 15 December 15, 2019, not 1 first 2 No. 2018 15 January 1, 2019 not In August 2018, No. 33 10532, Disclosure Update and Simplification , In February 2016, No. 2016 02, Leases (Topic 842 January, July December 2018, July 2018 No. 2018 11, Leases (Topic 842 12 No. 2016 02 January 1, 2019. 1 not 2 not 3 not The adoption of the new leases standard resulted in the following adjustments to the consolidated balance sheet as of January 1, 2019 ( Increase/(Decrease) Operating lease right-of-use assets $ 4,730 Accrued liabilities (a) $ (100 ) Operating lease liabilities $ 484 Operating lease liabilities, net of current portion $ 4,610 Deferred rent, net of current portion $ (416 ) Accumulated deficit (b) $ (153 ) (a) Represents current portion of Deferred rent reclassified to Operating lease liabilities. (b) Represents cumulative-effect adjustment upon adoption of ASU No. 2016 02. The adoption of ASU No. 2016 02, not Recently Issued Accounting Standards In June 2016, 2016 13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments , 2016 13. 2016 13 2016 13 December 15, 2019. 2016 13 not

Note 2 - Investments and Fair V

Note 2 - Investments and Fair Value Measurement	3 Months Ended
	Mar. 31, 2019
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 March 31 , 201 9 Amortized Cost Gross Unrealized Gross Unrealized Fair Cash and cash equivalents: Cash $ 743 $ — $ — $ 743 Money market funds 453 — — 453 Commercial paper 72,116 — — 72,116 Total cash and cash equivalents 73,312 — — 73,312 Short-term investments: Commercial paper $ 16,838 $ — $ — $ 16,838 Total cash, cash equivalents and investments $ 90,150 $ — $ — $ 90,150 As of December 31 , 201 8 Amortized Cost Gross Unrealized Gross Unrealized Fair Cash and cash equivalents: Cash $ 2,037 $ — $ — $ 2,037 Money market funds 1,436 — — 1,436 U.S. government agency securities 10,181 — — 10,181 Commercial paper 74,321 — — 74,321 Total cash and cash equivalents 87,975 — — 87,975 Short-term investments: U.S. government agency securities $ 1,497 $ — $ — $ 1,497 Commercial paper 16,243 — — 16,243 Total marketable securities and commercial paper 17,740 — — 17,740 Total cash, cash equivalents and investments $ 105,715 $ — $ — $ 105,715 As of March 31, 2019 December 31, 2018, none no March 31, 2019 December 31, 2018. No no three March 31, 2019 March 31, 2018. As of March 31, 2019 December 31, 2018, one Fair Value Measurement The Company’s financial instruments consist of Level I and II assets and Level III liabilities. Money market funds are highly liquid investments and are actively traded. The pricing information on these investment instruments are readily available and can be independently validated as of the measurement date. This approach results in the classification of these securities as Level 1 third March 31, 2019 December 31, 2018, 2014 1 7 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 March 31, 2019 Fair Value Level I Level II Level III Assets Money market funds $ 453 $ 453 $ — $ — Commercial paper 88,954 — 88,954 — Total assets measured at fair value $ 89,407 $ 453 $ 88,954 $ — Liabilities Contingent put option liability $ 98 $ — $ — $ 98 Total liabilities measured at fair value $ 98 $ — $ — $ 98 As of December 31 , 201 8 Fair Value Level I Level II Level III Assets Money market funds $ 1,436 $ 1,436 $ — $ — U.S. government agency securities 11,678 — 11,678 — Commercial paper 90,564 — 90,564 — Total assets measured at fair value $ 103,678 $ 1,436 $ 102,242 $ — Liabilities Contingent put option liability $ 121 $ — $ — $ 121 Total liabilities measured at fair value $ 121 $ — $ — $ 121 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 March 31, 2019 March 31, 2018 ( Three Months March 31, 2019 Fair value—beginning of period $ 121 Change in fair value of contingent put option associated with Amended Loan Agreement (23 ) Fair value—end of period $ 98 Three Months March 31, 2018 Fair value—beginning of period $ 207 Change in fair value of contingent put option associated with Amended Loan Agreement (21 ) Fair value—end of period $ 186

Note 3 - Inventories

Note 3 - Inventories	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Inventory Disclosure [Text Block]	3. Inventories consist of raw materials, work in process and finished goods and are stated at the lower of cost or net realizable value and consist of the following (in thousands): Balance as of March 31, 2019 December 31, 201 8 Raw materials $ 1,307 $ 694 Work-in-process 595 160 Finished goods 501 — Total $ 2,403 $ 854

Note 4 - Revenue

Note 4 - Revenue	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	4 Revenue As described in Note 1 first 2019. March 31, 2019, $3.4 2029. 1 The following table presents changes in the Company’s contract liability for the three March 31, 2019: Balance at Beginning of the Period Additions Deductions Balance at the end of the Period (in thousands) Contract liability: Deferred revenue $ 3,463 $ 122 $ (79 ) $ 3,506 For the three March 31, 2019, Three months ended March 31, 2019 Amounts included in contract liabilities at the beginning of the period: Performance obligations satisfied – Amended Agreements $ 79 New activities in the period from performance obligations satisfied: Performance obligations satisfied – Amended Agreements 28 Total revenue from performance obligations satisfied 107 Royalty revenue 111 Net product sales 47 Total revenue $ 265

Note 5 - U.S. Department of Def

Note 5 - U.S. Department of Defense	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Long-term Contracts or Programs Disclosure [Text Block]	5 . U.S. Department of Defense On May 11, 2015, $17.0 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, is recorded as contract and other revenue in the condensed consolidated statements of comprehensive loss. There was no three March 31, 2019, $0.1 three March 31, 2018.

Note 6 - Collaboration Agreemen

Note 6 - Collaboration Agreement	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Collaborative Arrangement Disclosure [Text Block]	6. 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 9 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. For the three March 31, 2019 2018, $0.2 $0.3 March 31, 2019, $0.3 $3.1 February 2016 2029.

Note 7 - Long-term Debt

Note 7 - Long-term Debt	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Long-term Debt [Text Block]	7. 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 $10.0 March 31, 2019 $12.0 December 31, 2018. $0.4 $0.1 three March 31, 2019, $0.6 $0.2 three March 31, 2018.

Note 8 - Leases

Note 8 - Leases	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	8 . Leases Office Lease The Company leases office and laboratory space for its corporate headquarters, located at 301 351 June 2017, February 1, 2018 January 31, 2024 six not $0.1 3% February 1 st first two not not $0.4 December 2019. On January 2, 2019, 47% February 16, 2019 January 31, 2024, $48,000 3% February 1 st 2019. January 2, 2019, 45 $0.4 $0.2 The transfer of the tenant improvement allowance to the sublessee resulted in a change in cash flows for the New Lease and was accounted for as a modification with changes in lease term and consideration. As a result, the Company remeasured the lease liability with the revised lease payments and recognized approximately $24,000 Contract Manufacturing Lease On December 12, 2012, December 31, 2017, two eighteen 2013, $0.2 December 31, 2021. The components of lease expense are presented in the following table (in thousands): Three Months March 31, 2019 Operating lease costs $ 340 Sublease income (146 ) Net lease costs $ 194 Other information related to the operating leases is presented in the following table (in thousands, except years and percentages): Three Months March 31, 2019 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows used for operating leases $ 305 Supplemental non-cash disclosures of lease activities Transfer of tenant improvement allowance to sublease $ 242 Right-of-use assets obtained in exchange for new operating lease liabilities $ 4,730 The weighted average remaining lease term and discount rate related to the operating leases are presented in the following table: March 31, 2019 Weighted-average remaining term – operating lease (in years) 4.65 Weighted-average discount rate – operating lease 11.72 % Maturities of lease liabilities as of March 31, 2019 Year: 2019 (remaining nine months) $ 978 2020 1,468 2021 1,505 2022 1,345 2023 1,386 Thereafter 116 Total future minimum lease payments 6,798 Less imputed interest (1,640 ) Total $ 5,158 Reported as: Operating lease liabilities $ 729 Operating lease liabilities, net of current portion 4,429 Total lease liability $ 5,158 Future minimum sublease payments as of March 31, 2019 Year: 2019 (remaining nine months) $ 433 2020 593 2021 610 2022 629 2023 648 Thereafter 54 Total future minimum sublease payments $ 2,967 The rent receivable balance is reported in the balance sheet as follows (in thousands): Reported as: Prepaid expenses and other current assets $ 65 Other assets 413 Total rent receivable $ 478

Note 9 - Liability Related to S

Note 9 - Liability Related to Sale of Future Royalties	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Liability Related To Sale Of Future Royalties Disclosure [Text Block]	9 . 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 Company periodically assesses the expected royalty and milestone payments using a combination of historical results, internal projections and forecasts from external sources. To the extent such payments are greater or less than the Company’s initial estimates or the timing of such payments is materially different than its original estimates, the Company will prospectively adjust the amortization of the liability and the effective interest rate. From inception through December 31, 2018, 13.0%; 7.0% three March 31, 2019 2018 7.0% 13.6%, The following table shows the activity within the liability account for the three March 31, 2019 ( Three months ended March 31, 2019 Period from inception to March 31, 2019 Liability related to sale of future royalties — beginning balance $ 93,679 $ — Proceeds from sale of future royalties — 61,184 Non-cash royalty revenue (68 ) (445 ) Non-cash interest expense recognized 1,607 34,479 Liability related to sale of future royalties as of March 31, 2019 95,218 95,218 Less: current portion (477 ) (477 ) Liability related to sale of future royalties — net of current portion $ 94,741 $ 94,741 As royalties are remitted to PDL from the Company’s subsidiary, ARPI LLC, as described in Note 1

Note 10 - Stock-based Compensat

Note 10 - Stock-based Compensation	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Share-based Payment Arrangement [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 March 31 , 201 9 201 8 Cost of goods sold $ 61 $ 87 Research and development 224 432 Selling, general and administrative 822 561 Total $ 1,107 $ 1,080 As of March 31, 2019, 2,059,975 12,777,484 848,696 2011 773,754

Note 11 - Net Loss Per Share of

Note 11 - Net Loss Per Share of Common Stock	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Earnings Per Share [Text Block]	1 1 . 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: March 31 , 201 9 201 8 RSUs, ESPP and stock options to purchase common stock 13,983,586 10,582,177 Common stock warrants — 176,730

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Business Description of Entity [Policy Text Block]	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 use in medically supervised settings. DSUVIA (known as DZUVEO in Europe) and Zalviso, are November 2, 2018, June 2018, first 2019. not may one not DSUVIA /DZUVEO DSUVIA, known as DZUVEO in Europe, approved by the FDA in November 2018, June 2018. DSUVIA was approved with a Risk Evaluation and Mitigation Strategy, or REMS, which restricts distribution to certified medically supervised healthcare settings in order to prevent respiratory depression resulting from accidental exposure. DSUVIA will only be distributed to facilities certified in the DSUVIA REMS program following attestation by an authorized representative to comply with appropriate dispensing and use restrictions of DSUVIA. To become certified, a healthcare setting will need to train their healthcare professionals on the proper use of DSUVIA and have the ability to manage respiratory depression. DSUVIA will not Zalviso Zalviso delivers 15 September 2013 July 25, 2014. IAP312, IAP312 August 2017, three 3 On December 16, 2013, July 17, 2015 September 20, 2016, September 2015, December 16, 2013, July 22, 2015, July 17, 2015. 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, November 2018 first 2019. 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.
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 9
Reclassification, Policy [Policy Text Block]	Reclassifications Certain prior year amounts in the condensed consolidated financial statements have been reclassified to conform to the current year's presentation.
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 March 31, 2019, not may December 31, 2019. December 31, 2018, December 31, 2018, 10 10 December 31, 2018,
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
Inventory, Policy [Policy Text Block]	Inventories Inventories are valued at the lower of cost and net realizable value. Cost is determined using the first first third November 2018. The Company's policy is to write down inventory that has become obsolete, inventory that has a cost basis in excess of its expected net realizable value and inventory in excess of expected requirements. The Company periodically evaluates the carrying value of inventory on hand for potential excess amount over demand using the same lower of cost or market approach as that used to value the inventory. Because the predetermined, contractual transfer prices the Company is receiving from Grünenthal are less than the direct costs of manufacturing, all Zalviso inventories are carried at net realizable value.
Lessee, Leases [Policy Text Block]	Leases In February 2016, No. 2016 02, Leases (Topic 842 January 1, 2019. At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on the unique facts and circumstances present. Operating lease liabilities and their corresponding right-of-use assets are recorded based on the present value of lease payments over the expected lease term. The interest rate implicit in lease contracts is typically not may Lease expense is recognized over the expected term on a straight-line basis. Operating leases are recognized on the balance sheet as right-of-use assets, operating lease liabilities current and operating lease liabilities non-current. As a result, the Company no
Revenue [Policy Text Block]	Revenue Recognition Beginning January 1, 2018, 606, Revenue from Contracts with Customers 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. Net product sales revenue Revenues from product sales are recognized when distributors obtain control of the Company’s product, which occurs at a point in time, upon delivery to such distributors. These distributors subsequently resell the product to certified medically supervised healthcare settings, such as hospitals, surgical centers, and emergency departments. In addition to distribution agreements with these customers, the Company enters into arrangements with group purchasing organizations, or GPOs, and/or privately-negotiated discounts with respect to the purchase of its products. Revenue from product sales is recorded at the transaction price, net of estimates for variable consideration consisting of discounts, returns and GPO discounts and administrative fees. Variable consideration is recorded at the time product sales are recognized resulting in a reduction in product revenue. Variable consideration is estimated using the most-likely amount method, which is the single-most likely outcome under a contract and is typically at the stated contractual rate. Actual amounts of consideration ultimately received may ● Distributor Fees – The Company offers contractually determined discounts to its Customers. These discounts are paid no two ● GPO Discounts - The Company offers discounts to GPO members. These discounts are taken when the GPO members purchase DSUVIA from the Company’s customers, who then charge the discount amount back to the Company. ● GPO Administrative Fees - The Company pays administrative fees to GPOs for services and access to data. These fees are based on contracted terms and are paid after the quarter in which the product was purchased by the GPOs’ members. ● Returns – The Company allows its Customers to return product for credit 12 may The Company believes its estimated allowance for product returns requires a high degree of judgment and is subject to change based on its experience and certain quantitative and qualitative factors. The Company believes its estimated allowances for distributor fees, GPO discounts and administrative fees do not Amounts accrued for product revenue allowances and related accruals are evaluated each reporting period and adjusted when trends or significant events indicate that a change in estimate is appropriate and to reflect actual experience. Product revenue-related liabilities are recorded in the Company’s condensed consolidated balance sheets as Accrued liabilities. The Company will continue to assess its estimates of variable consideration as it accumulates additional historical data and will adjust these estimates accordingly. Changes in sales allowance estimates could materially affect the Company’s results of operations and financial position. Collaboration agreement r evenue 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. Contract and other revenue 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 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. Variable consideration for product revenue is described as Net product sales in the condensed consolidated statements of comprehensive loss. For collaboration agreements, 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 collaboration 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 Revenues from product sales are recognized when distributors obtain control of the Company’s products, which occurs at a point in time, upon delivery to such distributors. Significant management judgment is required to determine the level of effort required under collaboration arrangements 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
Cost of Goods and Service [Policy Text Block]	Cost of Goods Sold Cost of goods sold for product revenue includes third Under the Amended Agreements with Grünenthal, the Company sells Zalviso to Grünenthal at predetermined, contractual transfer prices that are less than the direct costs of manufacturing and recognizes indirect costs as period costs where they are in excess of normal capacity and not third
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Standards On August 29, 2018, No. 2018 15, Intangibles – Goodwill and Other – Internal Use Software (Subtopic 350 40 ” The amendments in ASU No. 2018 15 ASU No. 2018 15 December 15, 2019, not 1 first 2 No. 2018 15 January 1, 2019 not In August 2018, No. 33 10532, Disclosure Update and Simplification , In February 2016, No. 2016 02, Leases (Topic 842 January, July December 2018, July 2018 No. 2018 11, Leases (Topic 842 12 No. 2016 02 January 1, 2019. 1 not 2 not 3 not The adoption of the new leases standard resulted in the following adjustments to the consolidated balance sheet as of January 1, 2019 ( Increase/(Decrease) Operating lease right-of-use assets $ 4,730 Accrued liabilities (a) $ (100 ) Operating lease liabilities $ 484 Operating lease liabilities, net of current portion $ 4,610 Deferred rent, net of current portion $ (416 ) Accumulated deficit (b) $ (153 ) (a) Represents current portion of Deferred rent reclassified to Operating lease liabilities. (b) Represents cumulative-effect adjustment upon adoption of ASU No. 2016 02. The adoption of ASU No. 2016 02, not Recently Issued Accounting Standards In June 2016, 2016 13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments , 2016 13. 2016 13 2016 13 December 15, 2019. 2016 13 not

Reconciliation of Cash, Cash _2

Reconciliation of Cash, Cash Equivalents, and Restricted Cash (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Cash and Cash Equivalents [Table Text Block]	March 31, March 31, 2019 2018 Cash and cash equivalents 73,312 43,603 Restricted cash 178 178 Cash, cash equivalents and restricted cash shown in the statement of cash flows 73,490 43,781

Note 1 - Organization and Sum_2

Note 1 - Organization and Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]	Increase/(Decrease) Operating lease right-of-use assets $ 4,730 Accrued liabilities (a) $ (100 ) Operating lease liabilities $ 484 Operating lease liabilities, net of current portion $ 4,610 Deferred rent, net of current portion $ (416 ) Accumulated deficit (b) $ (153 )

Note 2 - Investments and Fair_2

Note 2 - Investments and Fair Value Measurement (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Cash, Cash Equivalents and Investments [Table Text Block]	As of March 31 , 201 9 Amortized Cost Gross Unrealized Gross Unrealized Fair Cash and cash equivalents: Cash $ 743 $ — $ — $ 743 Money market funds 453 — — 453 Commercial paper 72,116 — — 72,116 Total cash and cash equivalents 73,312 — — 73,312 Short-term investments: Commercial paper $ 16,838 $ — $ — $ 16,838 Total cash, cash equivalents and investments $ 90,150 $ — $ — $ 90,150 As of December 31 , 201 8 Amortized Cost Gross Unrealized Gross Unrealized Fair Cash and cash equivalents: Cash $ 2,037 $ — $ — $ 2,037 Money market funds 1,436 — — 1,436 U.S. government agency securities 10,181 — — 10,181 Commercial paper 74,321 — — 74,321 Total cash and cash equivalents 87,975 — — 87,975 Short-term investments: U.S. government agency securities $ 1,497 $ — $ — $ 1,497 Commercial paper 16,243 — — 16,243 Total marketable securities and commercial paper 17,740 — — 17,740 Total cash, cash equivalents and investments $ 105,715 $ — $ — $ 105,715
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	As of March 31, 2019 Fair Value Level I Level II Level III Assets Money market funds $ 453 $ 453 $ — $ — Commercial paper 88,954 — 88,954 — Total assets measured at fair value $ 89,407 $ 453 $ 88,954 $ — Liabilities Contingent put option liability $ 98 $ — $ — $ 98 Total liabilities measured at fair value $ 98 $ — $ — $ 98 As of December 31 , 201 8 Fair Value Level I Level II Level III Assets Money market funds $ 1,436 $ 1,436 $ — $ — U.S. government agency securities 11,678 — 11,678 — Commercial paper 90,564 — 90,564 — Total assets measured at fair value $ 103,678 $ 1,436 $ 102,242 $ — Liabilities Contingent put option liability $ 121 $ — $ — $ 121 Total liabilities measured at fair value $ 121 $ — $ — $ 121
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Three Months March 31, 2019 Fair value—beginning of period $ 121 Change in fair value of contingent put option associated with Amended Loan Agreement (23 ) Fair value—end of period $ 98 Three Months March 31, 2018 Fair value—beginning of period $ 207 Change in fair value of contingent put option associated with Amended Loan Agreement (21 ) Fair value—end of period $ 186

Note 3 - Inventories (Tables)

Note 3 - Inventories (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Inventory, Current [Table Text Block]	Balance as of March 31, 2019 December 31, 201 8 Raw materials $ 1,307 $ 694 Work-in-process 595 160 Finished goods 501 — Total $ 2,403 $ 854

Note 4 - Revenue (Tables)

Note 4 - Revenue (Tables)	3 Months Ended
	Mar. 31, 2019
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 $ 3,463 $ 122 $ (79 ) $ 3,506
Disaggregation of Revenue [Table Text Block]	Three months ended March 31, 2019 Amounts included in contract liabilities at the beginning of the period: Performance obligations satisfied – Amended Agreements $ 79 New activities in the period from performance obligations satisfied: Performance obligations satisfied – Amended Agreements 28 Total revenue from performance obligations satisfied 107 Royalty revenue 111 Net product sales 47 Total revenue $ 265

Note 8 - Leases (Tables)

Note 8 - Leases (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Lease, Cost [Table Text Block]	Three Months March 31, 2019 Operating lease costs $ 340 Sublease income (146 ) Net lease costs $ 194 Three Months March 31, 2019 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows used for operating leases $ 305 Supplemental non-cash disclosures of lease activities Transfer of tenant improvement allowance to sublease $ 242 Right-of-use assets obtained in exchange for new operating lease liabilities $ 4,730 March 31, 2019 Weighted-average remaining term – operating lease (in years) 4.65 Weighted-average discount rate – operating lease 11.72 %
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Year: 2019 (remaining nine months) $ 978 2020 1,468 2021 1,505 2022 1,345 2023 1,386 Thereafter 116 Total future minimum lease payments 6,798 Less imputed interest (1,640 ) Total $ 5,158 Reported as: Operating lease liabilities $ 729 Operating lease liabilities, net of current portion 4,429 Total lease liability $ 5,158
Lessee, Operating Sublease, to Be Received, Maturity [Table Text Block]	Year: 2019 (remaining nine months) $ 433 2020 593 2021 610 2022 629 2023 648 Thereafter 54 Total future minimum sublease payments $ 2,967 Reported as: Prepaid expenses and other current assets $ 65 Other assets 413 Total rent receivable $ 478

Note 9 - Liability Related to_2

Note 9 - Liability Related to Sale of Future Royalties (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Other Liabilities [Table Text Block]	Three months ended March 31, 2019 Period from inception to March 31, 2019 Liability related to sale of future royalties — beginning balance $ 93,679 $ — Proceeds from sale of future royalties — 61,184 Non-cash royalty revenue (68 ) (445 ) Non-cash interest expense recognized 1,607 34,479 Liability related to sale of future royalties as of March 31, 2019 95,218 95,218 Less: current portion (477 ) (477 ) Liability related to sale of future royalties — net of current portion $ 94,741 $ 94,741

Note 10 - Stock-based Compens_2

Note 10 - Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Three Months Ended March 31 , 201 9 201 8 Cost of goods sold $ 61 $ 87 Research and development 224 432 Selling, general and administrative 822 561 Total $ 1,107 $ 1,080

Note 11 - Net Loss Per Share _2

Note 11 - Net Loss Per Share of Common Stock (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	March 31 , 201 9 201 8 RSUs, ESPP and stock options to purchase common stock 13,983,586 10,582,177 Common stock warrants — 176,730

Reconciliation of Cash, Cash _3

Reconciliation of Cash, Cash Equivalents, and Restricted Cash - Schedule of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018		Mar. 31, 2018	Dec. 31, 2017
Cash and cash equivalents	$ 73,312	$ 87,975	[1]	$ 43,603
Restricted cash	178			178
Cash, cash equivalents and restricted cash shown in the statement of cash flows	$ 73,490	$ 88,153		$ 43,781	$ 53,080
[1]	The condensed consolidated balance sheet as of December 31, 2018 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, 2018.

Note 1 - Organization and Sum_3

Note 1 - Organization and Summary of Significant Accounting Policies - Adjustments for Adoption of New Lease Standard (Details) - USD ($) $ in Thousands		Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Operating lease right-of-use assets		$ 4,517			[1]
Accrued liabilities		3,578		4,540	[1]
Operating lease liabilities, current portion		729			[1]
Operating lease liabilities, net of current portion		4,429			[1]
Accumulated deficit		$ (358,540)		$ (345,019)
Accounting Standards Update 2016-02 [Member]
Operating lease right-of-use assets			$ 4,730
Accrued liabilities	[2]		(100)
Operating lease liabilities, current portion			484
Operating lease liabilities, net of current portion			4,610
Deferred rent, net of current portion			(416)
Accumulated deficit	[3]		$ (153)
[1]	The condensed consolidated balance sheet as of December 31, 2018 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, 2018.
[2]	Represents current portion of Deferred rent reclassified to Operating lease liabilities.
[3]	Represents cumulative-effect adjustment upon adoption of ASU No. 2016-02.

Note 2 - Investments and Fair_3

Note 2 - Investments and Fair Value Measurement (Details Textual) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Available-for-sale Securities, Gross, Unrealized Gain (Loss) Accumulated In Investments	$ 0		$ 0
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities, Total	0		$ 0
Debt Securities, Available-for-sale, Realized Gain (Loss), Total	0	$ 0
Other Comprehensive Income (Loss), Transfers from Held-to-maturity to Available-for-Sale Securities, Net of Tax	$ 0	$ 0

Note 2 - Investments and Fair_4

Note 2 - Investments and Fair Value Measurement - Summary of Cash, Cash Equivalents and Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Amortized Cost	$ 90,150	$ 105,715
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value	90,150	105,715
Cash and Cash Equivalents [Member]
Amortized Cost	73,312	87,975
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value	73,312	87,975
Cash and Cash Equivalents [Member] | Cash [Member]
Amortized Cost	743	2,037
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value	743	2,037
Cash and Cash Equivalents [Member] | Money Market Funds [Member]
Amortized Cost	453	1,436
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value	453	1,436
Cash and Cash Equivalents [Member] | Commercial Paper [Member]
Amortized Cost	72,116	74,321
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value	72,116	74,321
Cash and Cash Equivalents [Member] | U.S. Government Agency Securities [Member]
Amortized Cost		10,181
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value		10,181
Marketable Securities [Member]
Amortized Cost		17,740
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value		17,740
Marketable Securities [Member] | Commercial Paper [Member]
Amortized Cost	16,838	16,243
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value	$ 16,838	16,243
Marketable Securities [Member] | U.S. Government Agency Securities [Member]
Amortized Cost		1,497
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value		$ 1,497

Note 2 - Investments and Fair_5

Note 2 - Investments and Fair Value Measurement - Fair Value of Financial Assets and Liabilities by Level Within Fair Value Hierarchy (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Assets, fair value	$ 89,407	$ 103,678
Liabilities, fair value	98	121
Contingent Put Option Liability [Member]
Liabilities, fair value	98	121
Fair Value, Inputs, Level 1 [Member]
Assets, fair value	453	1,436
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	88,954	102,242
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	98	121
Fair Value, Inputs, Level 3 [Member] | Contingent Put Option Liability [Member]
Liabilities, fair value	98	121
Money Market Funds [Member]
Assets, fair value	453	1,436
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Assets, fair value	453	1,436
Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member]
Assets, fair value
Money Market Funds [Member] | Fair Value, Inputs, Level 3 [Member]
Assets, fair value
Commercial Paper [Member]
Assets, fair value	88,954	90,564
Commercial Paper [Member] | Fair Value, Inputs, Level 1 [Member]
Assets, fair value
Commercial Paper [Member] | Fair Value, Inputs, Level 2 [Member]
Assets, fair value	88,954	90,564
Commercial Paper [Member] | Fair Value, Inputs, Level 3 [Member]
Assets, fair value
U.S. Government Agency Obligations [Member]
Assets, fair value		11,678
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		11,678
U.S. Government Agency Obligations [Member] | Fair Value, Inputs, Level 3 [Member]
Assets, fair value

Note 2 - Investments and Fair_6

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
	Mar. 31, 2019	Mar. 31, 2018
Fair value, Beginning of period	$ 121	$ 207
Fair value, End of period	98	186
Hercules 2011 Loan and Security Agreement [Member]
Change in fair value of contingent put option associated with Amended Loan Agreement	$ (23)	$ (21)

Note 3 - Inventories - Inventor

Note 3 - Inventories - Inventory Components (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Raw materials	$ 1,307	$ 694
Work-in-process	595	160
Finished goods	501
Total	$ 2,403	$ 854	[1]
[1]	The condensed consolidated balance sheet as of December 31, 2018 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, 2018.

Note 4 - Revenue (Details Textu

Note 4 - Revenue (Details Textual) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Discount on Manufacturing Services	$ 3.4

Note 4 - Revenue - Changes in C

Note 4 - Revenue - Changes in Contract Liabilities (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Contract Liabilities: Deferred Revenue	$ 3,463
Contract Liabilities: Deferred Revenue, Additions	122
Contract Liabilities: Deferred Revenue, Deductions	(79)
Contract Liabilities: Deferred Revenue	$ 3,506

Note 4 - Revenue - Disaggregati

Note 4 - Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Amounts included in contract liabilities at the beginning of the period: Performance obligations satisfied – Amended Agreements	$ 79
New activities in the period from performance obligations satisfied: Performance obligations satisfied – Amended Agreements	28
Revenue	265	$ 343
Amended License Agreement [Member]
Revenue	107
Royalty Revenue [Member]
Revenue	111
Product [Member]
Revenue	$ 47

Note 5 - U.S. Department of D_2

Note 5 - U.S. Department of Defense (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	May 11, 2015
Government Contract Receivable			$ 17,000
Revenue from Contract with Customer, Including Assessed Tax	$ 265	$ 343
Government [Member] | Contract and Other Revenue [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 0	$ 100

Note 6 - Collaboration Agreem_2

Note 6 - Collaboration Agreement (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018	[1]	Jul. 17, 2015
Revenue Recognition Milestone Method Agreed, Additional Amount, Based On Efforts And Targets					$ 194,500
Revenue from Contract with Customer, Including Assessed Tax	$ 265	$ 343
Contract with Customer, Liability, Current	437		$ 315
Contract with Customer, Liability, Noncurrent	3,069		$ 3,148
Collaboration Agreement Revenue [Member]
Revenue from Contract with Customer, Including Assessed Tax	218	$ 274
Contract with Customer, Liability, Current	300
Contract with Customer, Liability, Noncurrent	$ 3,100
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, 2018 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, 2018.

Note 7 - Long-term Debt (Detail

Note 7 - Long-term Debt (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018	Mar. 02, 2017
Interest Expense, Total	$ 376	$ 643
Amortization of Debt Discount (Premium)	99	181
Amended and Restated Loan and Security Agreement [Member]
Debt Instrument, Final Payment, Percentage of Aggregate Principal Amount				6.50%
Hercules Loan and Security Agreement [Member]
Long-term Line of Credit, Total	10,000		$ 12,000
Interest Expense, Total	400	600
Amortization of Debt Discount (Premium)	$ 100	$ 200
Hercules Loan and Security Agreement [Member] | First Tranche [Member]
Debt Instrument, Face Amount				$ 20,500

Note 8 - Leases (Details Textua

Note 8 - Leases (Details Textual) - USD ($)	Jan. 02, 2019	Dec. 12, 2012	Jun. 30, 2017	Mar. 31, 2019	Mar. 31, 2018
Lessee, Operating Lease, Renewal Term		2 years	6 years
Lessee, Operating Lease, Monthly Rent			$ 100,000
Lessee, Operating Lease, Annual Rent Increase			3.00%
Lessee, Operating Lease, Initial Tenant Incentive Allowance			$ 400,000
Lessee, Operating Sublease Monthly Rent	$ 48,000
Lessee, Operating Sublease, Annual Rent Increase	3.00%
Lessee, Operating Sublease, Direct Costs	$ 400,000
Lessee, Operating Sublease, Initial Tenant Incentive Allowance Transfered from Operating Lease	200,000			$ 242,000
Increase (Decrease) in Operating Lease Liabilities	(24,000)			$ (153,000)
Increase (Decrease) in Right-of-use Assets	$ (24,000)
Lessee, Operating Lease, Notice Period		1 year 180 days
Lessee, Operating Lease, Annual Overhead Fee Payments		$ 200,000

Note 8 - Leases - Operating Lea

Note 8 - Leases - Operating Lease Costs (Details) - USD ($)	Jan. 02, 2019	Mar. 31, 2019
Operating lease costs		$ 340,000
Sublease income		(146,000)
Net lease costs		194,000
Operating cash flows used for operating leases		305,000
Transfer of tenant improvement allowance to sublease	$ 200,000	242,000
Right-of-use assets obtained in exchange for new operating lease liabilities		$ 4,730,000
Weighted-average remaining term – operating lease (in years) (Year)		4 years 237 days
Weighted-average discount rate – operating lease		11.72%

Note 8 - Leases - Maturities of

Note 8 - Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	[1]
2019 (remaining nine months)	$ 978
2020	1,468
2021	1,505
2022	1,345
2023	1,386
Thereafter	116
Total future minimum lease payments	6,798
Less imputed interest	(1,640)
Total	5,158
Operating lease liabilities, current portion	729
Operating lease liabilities, net of current portion	4,429
Total lease liability	$ 5,158
[1]	The condensed consolidated balance sheet as of December 31, 2018 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, 2018.

Note 8 - Leases - Future Minimu

Note 8 - Leases - Future Minimum Sublease Payments (Details) $ in Thousands	Mar. 31, 2019USD ($)
2019 (remaining nine months)	$ 433
2020	593
2021	610
2022	629
2023	648
Thereafter	54
Total future minimum sublease payments	2,967
Rent receivable	478
Prepaid Expenses and Other Current Assets [Member]
Rent receivable	65
Other Assets [Member]
Rent receivable	$ 413

Note 9 - Liability Related to_3

Note 9 - Liability Related to Sale of Future Royalties (Details Textual) - USD ($) $ in Millions	Sep. 18, 2015	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Proceeds From Sale of Royalty and Milestone Rights	$ 65
Royalty Arrangment Maximum Payments	$ 195
Effective Annual Interest Rate		7.00%	13.60%		13.00%
ZALVISO [Member] | Forecast [Member]
Effective Annual Interest Rate				7.00%
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 9 - Liability Related to_4

Note 9 - Liability Related to Sale of Future Royalties - Activity of Liability Related to Sale of Future Royalties (Details) - USD ($) $ in Thousands	3 Months Ended		42 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Dec. 31, 2018	[1]
Liability related to sale of future royalties — beginning balance	$ 93,679
Proceeds from sale of future royalties			61,184
Non-cash royalty revenue	(68)		(445)
Non-cash interest expense recognized	1,607	$ 2,816	34,479
Liability related to sale of future royalties as of March 31, 2019	95,218		95,218
Less: current portion	(477)		(477)	$ (392)
Liability related to sale of future royalties — net of current portion	$ 94,741		$ 94,741	$ 93,287
[1]	The condensed consolidated balance sheet as of December 31, 2018 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, 2018.

Note 10 - Stock-based Compens_3

Note 10 - Stock-based Compensation (Details Textual)	Mar. 31, 2019shares
2011 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	2,059,975
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance	12,777,484
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance	848,696
Employee Stock Purchase Plan (ESPP) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	773,754

Note 10 - Stock-based Compens_4

Note 10 - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Stock-based compensation expense	$ 1,107	$ 1,080
Cost of Sales [Member]
Stock-based compensation expense	61	87
Research and Development Expense [Member]
Stock-based compensation expense	224	432
Selling, General and Administrative Expenses [Member]
Stock-based compensation expense	$ 822	$ 561

Note 11 - Net Loss Per Share _3

Note 11 - Net Loss Per Share of Common Stock - Common Stock Excluded from Computation of Diluted Net Loss Per Share (Details) - shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
RSU's, ESPP, and Employee Stock Options [Member]
Antidilutive securities (in shares)	13,983,586	10,582,177
Warrant [Member]
Antidilutive securities (in shares)		176,730