Talphera (TLPH) 10-Q 11 May 20 2020 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2020	May 07, 2020
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 Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding (in shares)		80,763,751
Entity Shell Company	false
Document Type	10-Q
Document Period End Date	Mar. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false
Title of 12(b) Security	Common Stock, $0.001 par value

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	[1]
Current Assets:
Cash and cash equivalents	$ 23,886	$ 14,684
Short-term investments	28,839	51,453
Accounts receivable, net	567	432
Inventories, net	3,099	3,295
Prepaid expenses and other current assets	1,654	1,824
Total current assets	58,045	71,688
Operating lease right-of-use assets	3,722	3,928
Property and equipment, net	14,670	14,552
Other assets	902	1,188
Total Assets	77,339	91,356
Current Liabilities:
Accounts payable	3,248	1,720
Accrued liabilities	4,122	5,528
Long-term debt, current portion	6,611	4,630
Deferred revenue, current portion	411	411
Operating lease liabilities, current portion	1,008	970
Liability related to the sale of future royalties, current portion	321	352
Total current liabilities	15,721	13,611
Long-term debt, net of current portion	19,133	20,517
Deferred revenue, net of current portion	2,754	2,833
Operating lease liabilities, net of current portion	3,421	3,640
Liability related to the sale of future royalties, net of current portion	90,792	91,683
Other long-term liabilities	799	490
Total liabilities	132,620	132,774
Commitments and Contingencies
Stockholders’ Deficit:
Common stock, $0.001 par value—200,000,000 shares authorized as of March 31, 2020 and December 31, 2019; 80,415,751 and 79,573,101 shares issued and outstanding as of March 31, 2020 and December 31, 2019	80	79
Additional paid-in capital	358,670	356,609
Accumulated deficit	(414,031)	(398,106)
Total stockholders’ deficit	(55,281)	(41,418)
Total Liabilities and Stockholders’ Deficit	$ 77,339	$ 91,356
[1]	The condensed consolidated balance sheet as of December 31, 2019 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, 2019.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2020	Dec. 31, 2019	[1]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	200,000,000	100,000,000
Common stock, issued (in shares)	80,415,751	79,573,101
Common stock, outstanding (in shares)	80,415,751	79,573,101
[1]	The condensed consolidated balance sheet as of December 31, 2019 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, 2019.

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenue:
Revenue	$ 386	$ 265
Operating costs and expenses:
Cost of goods sold	1,511	1,230
Research and development	1,412	1,377
Selling, general and administrative	13,311	9,976
Total operating costs and expenses	16,234	12,583
Loss from operations	(15,848)	(12,318)
Other expense:
Interest expense	(855)	(376)
Interest income and other (expense) income, net	(65)	627
Non-cash interest income (expense) on liability related to future sale of royalties	843	(1,607)
Total other expense	(77)	(1,356)
Net loss	(15,925)	(13,674)
Comprehensive loss	$ (15,925)	$ (13,674)
Net loss per share of common stock, basic and diluted (in dollars per share)	$ (0.20)	$ (0.17)
Shares used in computing net loss per share of common stock, basic and diluted – See Note 12 (in shares)	80,057,405	78,788,790
Product [Member]
Revenue:
Revenue	$ 274	$ 126
Contract and Other Collaboration [Member]
Revenue:
Revenue	$ 112	$ 139

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' (Deficit) Equity (Unaudited) - USD ($) $ in Thousands	Cumulative Effect, Period of Adoption, Adjustment [Member]Common Stock [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Additional Paid-in Capital [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2018					78,757,930
Balance at Dec. 31, 2018			$ 153	$ 153	$ 78	$ 349,194	$ (345,019)	$ 4,253
Stock-based compensation						1,107		1,107
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)
Issuance of common stock upon exercise of stock options (in shares)					13,583
Issuance of common stock upon exercise of stock options						31		31
Balance (in shares) at Mar. 31, 2019					78,856,648
Balance at Mar. 31, 2019					$ 79	350,570	(358,540)	(7,891)
Balance (in shares) at Dec. 31, 2019					79,573,101
Balance at Dec. 31, 2019					$ 79	356,609	(398,106)	(41,418)	[1]
Stock-based compensation						1,146		1,146
Restricted stock units vested (in shares)					216,399
Restricted stock units vested
Tax payments related to shares withheld for restricted stock units vested						(86)		(86)
Net proceeds from issuance of common stock in connection with equity financings (in shares)					431,800
Stock Issued During Period, Value, New Issues					$ 1	783		784
Issuance of common stock upon ESPP purchase (in shares)					194,451
Issuance of common stock upon ESPP purchase						218		218
Net loss							(15,925)	(15,925)
Balance (in shares) at Mar. 31, 2020					80,415,751
Balance at Mar. 31, 2020					$ 80	$ 358,670	$ (414,031)	$ (55,281)
[1]	The condensed consolidated balance sheet as of December 31, 2019 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, 2019.

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		54 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020
Cash flows from operating activities:
Net loss	$ (15,925)	$ (13,674)
Adjustments to reconcile net loss to net cash used in operating activities:
Non-cash royalty revenue related to royalty monetization	(84)	(79)
Non-cash interest (income) expense on liability related to royalty monetization	(843)	1,607	$ 30,692
Depreciation and amortization	487	328
Non-cash interest expense related to debt financing	271	99
Stock-based compensation	1,146	1,107
Other	111	(150)
Changes in operating assets and liabilities:
Accounts receivable	(135)	(172)
Inventories	88	(1,549)
Prepaid expenses and other assets	461	(1,315)
Accounts payable	1,528	1,477
Accrued liabilities	(1,209)	(809)
Operating lease liabilities	(181)	(153)
Deferred revenue	(79)	43
Net cash used in operating activities	(14,364)	(13,240)
Cash flows from investing activities:
Purchase of property and equipment	(73)	(658)
Purchase of investments	(12,757)	(3,871)
Proceeds from maturities of investments	35,480	4,900
Net cash provided by investing activities	22,650	371
Cash flows from financing activities:
Payment of long-term debt		(2,064)
Net proceeds from issuance of common stock in connection with equity financings	784
Net proceeds from issuance of common stock through equity plans	218	270
Payment of employee tax obligations related to vesting of restricted stock units	(86)
Net cash provided by (used in) financing activities	916	(1,794)
Net increase (decrease) in cash and cash equivalents	9,202	(14,663)
Cash and cash equivalents—Beginning of period	14,684	87,975
Cash and cash equivalents—End of period	$ 23,886	$ 73,312	$ 23,886

Note 1 - Organization and Summa

Note 1 - Organization and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Basis of Presentation and Significant Accounting Policies [Text Block]	1. The Company 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 ® ® November 2, 2018, first 2019. June 2018, 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 is only 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 is required to train their healthcare professionals on the proper use of DSUVIA and have the ability to manage respiratory depression. DSUVIA is 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, 28 September 2015, December 16, 2013, July 22, 2015, July 17, 2015. Proposed Acquisition of Tetraphase Pharmaceuticals, Inc. On March 15, 2020, 0.6303 $12.5 one not June 8, 2020. The Company estimates that, upon completion of the merger, AcelRx shareholders will own approximately 85.4% 14.6% Co-Promotion Agreement On March 15, 2020, 15 not 10% one no three March 31, 2020. The Company has incurred recurring operating losses and negative cash flows from operating activities since inception. Although Zalviso was 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. “DZUVEO” is a trademark, and “ACELRX”, “DSUVIA” 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 7 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 United States. Securities and Exchange Commission, or SEC. Accordingly, they do not Operating results for the three March 31, 2020, not may December 31, 2020. December 31, 2019, December 31, 2019, 10 10 December 31, 2019, 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 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 Restructuring Costs The Company's restructuring costs consist of employee termination benefit costs. Liabilities for costs associated with the cost reduction plan are recognized when the liability is incurred and are measured at fair value. One-time termination benefits are expensed at the date the Company notifies the employee, unless the employee must provide future service, in which case the benefits are expensed ratably over the future service period. On March 16, 2020, 30 three March 31, 2020, $0.5 $0.2 March 31, 2020. The headcount reduction was completed in the first 2020. No Significant Accounting Policies The Company’s significant accounting policies are detailed in its Annual Report on Form 10 December 31, 2019. no three March 31, 2020, 2019 10 Recently Issued Accounting Pronouncements In June 2016, 2016 13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments, 2016 13. 2016 13 2016 13 January 1, 2023, January 1, 2020. May 2019, 2019 05, Financial Instruments – Credit Losses” 2019 05, 2016 13. 2016 13 2019 05 not In March 2020, 2020 04, Reference Rate Reform (Topic 848 may December 31, 2022.

Note 2 - Investments and Fair V

Note 2 - Investments and Fair Value Measurement	3 Months Ended
	Mar. 31, 2020
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 (loss). 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, 2020 Amortized Cost Gross Unrealized Gross Unrealized Fair Cash and cash equivalents: Cash $ 3,188 $ — $ — $ 3,188 Money market funds 16,102 — — 16,102 Commercial paper 4,596 — — 4,596 Total cash and cash equivalents 23,886 — — 23,886 Short-term investments: U.S. government agency securities 2,008 — — 2,008 Commercial paper 25,155 — — 25,155 Corporate debt securities 1,676 — — 1,676 Total short-term investments 28,839 — — 28,839 Total cash, cash equivalents and short-term investments $ 52,725 $ — $ — $ 52,725 As of December 31, 2019 Amortized Cost Gross Unrealized Gross Unrealized Fair Cash and cash equivalents: Cash $ 1,957 $ — $ — $ 1,957 Money market funds 598 — — 598 Commercial paper 12,129 — — 12,129 Total cash and cash equivalents 14,684 — — 14,684 Short-term investments: U.S. government agency securities 14,268 — — 14,268 Commercial paper 27,131 — — 27,131 Corporate debt securities 10,054 — — 10,054 Total short-term investments 51,453 — — 51,453 Total cash, cash equivalents and short-term investments $ 66,137 $ — $ — $ 66,137 As of March 31, 2020 December 31, 2019, none no March 31, 2020 December 31, 2019. No no three March 31, 2020 March 31, 2019. As of March 31, 2020 December 31, 2019, 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, 2020, December 31, 2019, 5 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, 2020 Fair Value Level I Level II Level III Assets Money market funds $ 16,102 $ 16,102 $ — $ — U.S. government agency securities 2,008 — 2,008 — Commercial paper 29,751 — 29,751 — Corporate debt securities 1,676 — 1,676 — Total assets measured at fair value $ 49,537 $ 16,102 $ 33,435 $ — Liabilities Contingent put option liability $ 746 $ — $ — $ 746 Total liabilities measured at fair value $ 746 $ — $ — $ 746 As of December 31, 2019 Fair Value Level I Level II Level III Assets Money market funds $ 598 $ 598 $ — $ — U.S. government agency securities 14,268 — 14,268 — Commercial paper 39,260 — 39,260 — Corporate debt securities 10,054 — 10,054 — Total assets measured at fair value $ 64,180 $ 598 $ 63,582 $ — Liabilities Contingent put option liability $ 437 $ — $ — $ 437 Total liabilities measured at fair value $ 437 $ — $ — $ 437 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, 2020 March 31, 2019 ( Three Months Fair value—beginning of period $ 437 Change in fair value of contingent put option associated with the Loan Agreement 309 Fair value—end of period $ 746 Three Months Fair value—beginning of period $ 121 Change in fair value of contingent put option associated with the Prior Agreement with Hercules (see Note 5) (23 ) Fair value—end of period $ 98

Note 3 - Inventories

Note 3 - Inventories	3 Months Ended
	Mar. 31, 2020
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, 20 20 December 31, 201 9 Raw materials $ 1,146 $ 1,153 Work-in-process — 593 Finished goods 1,953 1,549 Total $ 3,099 $ 3,295 During the three March 31, 2020, $0.1 may

Note 4 - Revenue from Contracts

Note 4 - Revenue from Contracts with Customers	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	4. The following table summarizes revenue from contracts with customers for the three March 31, 2020 2019 Three Months Ended March 31, 2020 2019 Product sales: DSUVIA $ 155 $ 47 Zalviso 119 79 Total product sales 274 126 Contract and other collaboration: Non-cash royalty revenue related to Royalty Monetization (See Note 7) 84 85 Royalty revenue 28 26 Other revenue — 28 Total revenues from contract and other collaboration 112 139 Total revenue $ 386 $ 265 For additional details on the Company’s accounting policy regarding revenue recognition, refer to Note 1 10 December 31, 2019. Product Sales The Company’s commercial launch of DSUVIA in the United States occurred in the first 2019. Contract and Other Collaboration Amended License Agreement Under the Amended License Agreement with Grünenthal, the Company is eligible to receive approximately $194.5 $28.5 $166.0 7 Amended MSA Under the terms of the Amended MSA with Grünenthal, 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 The Amended Agreements entitle the Company to receive up to $28.5 may 606 not The Amended Agreements also include milestone payments related to specified net sales targets, totaling $166.0 606 The Company recognizes revenue from license rights when the customer can use and benefit from the license rights. The Company recognizes revenue from its services performance obligations over time using a cost-to-cost input method which best represents the incremental benefit that the customer receives as control is transferred. Contract Liability At March 31, 2020, $3.1 $0.3 2029. The following table presents changes in the Company’s contract liability for the three March 31, 2020 ( Balance at Beginning of the Period Additions Deductions Balance at the end of the Period Contract liability: Deferred revenue – Amended Agreements $ 3,148 $ — $ (79 ) $ 3,069 Deferred revenue – Other 96 — — 96 Deferred revenue $ 3,244 $ — $ (79 ) $ 3,165 For the three March 31, 2020 2019, Three Months Ended March 31, 2020 2019 Amounts included in contract liabilities at the beginning of the period: Performance obligations satisfied – Amended Agreements $ 79 $ 79 New activities in the period from performance obligations satisfied: Performance obligations satisfied – Amended Agreements 40 28 Total revenue from performance obligations satisfied $ 119 $ 107

Note 5 - Long-term Debt

Note 5 - Long-term Debt	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Long-term Debt [Text Block]	5. Prior Agreement with Hercules On March 2, 2017, 2014 1 May 30, 2019, $8.9 $7.4 $1.3 $0.2 Interest expense related to the Prior Agreement was $0.4 $0.1 three March 31, 2019. Loan Agreement with Oxford On May 30, 2019, $25.0 May 30, 2019. $8.9 $15.9 In connection with the Loan Agreement, on May 30, 2019, 176,679 $2.83. 9 Interest expense related to the Loan Agreement was $0.8 $0.2 three March 31, 2020. Non-Interest Bearing Payments for the Construction of Leasehold Improvements In August 2019, may four $0.5 July 2022. March 31, 2020, $1.7 $2.0 March 31, 2020. March 31, 2020 14.35%.

Note 6 - Leases

Note 6 - Leases	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	6. The Company leases office and laboratory space for its corporate headquarters, located at 301 351 47% The components of lease expense are presented in the following table (in thousands): Three Months 20 Operating lease costs $ 340 Sublease income (150 ) Net lease costs $ 190 The weighted average remaining lease term and discount rate related to the operating leases are presented in the following table: March 31, 20 20 Weighted-average remaining term – operating lease (in years) 3.83 Weighted-average discount rate – operating lease 11.72 % Future minimum lease payments as of March 31, 2020 Year: 2020 (remaining nine months) $ 953 2021 1,305 2022 1,345 2023 1,386 2024 116 Total future minimum lease payments 5,105 Less imputed interest (676 ) Total $ 4,429 Reported as: Operating lease liabilities $ 1,008 Operating lease liabilities, net of current portion 3,421 Total lease liability $ 4,429 Cash paid for amounts included in the measurement of lease liabilities included $0.3 Future minimum sublease payments as of March 31, 2020 Year: 2020 (remaining nine months) $ 446 2021 610 2022 629 2023 648 2024 54 Total future minimum sublease payments $ 2,387 The rent receivable balance is reported in the balance sheet as follows (in thousands): Reported as: Prepaid expenses and other current assets $ 82 Other assets 331 Total rent receivable $ 413

Note 7 - Liability Related to S

Note 7 - Liability Related to Sale of Future Royalties	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Liability Related To Sale Of Future Royalties Disclosure [Text Block]	7. In September 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. During the three June 30, 2019, 4.2%, $65.0 $20 $45 may The change in estimate reduced the effective interest rate over the life of the liability to 0% three March 31, 2020 4.0%, three March 31, 2019 7.0%. The following table shows the activity within the liability account for the three March 31, 2020 ( Three months ended 20 Period from inception to March 31, 20 20 Liability related to sale of future royalties — beginning balance $ 92,035 $ — Proceeds from sale of future royalties — 61,184 Non-cash royalty revenue (79 ) (763 ) Non-cash interest (income) expense recognized (843 ) 30,692 Liability related to sale of future royalties as of March 31, 2020 91,113 91,113 Less: current portion (321 ) (321 ) Liability related to sale of future royalties — net of current portion $ 90,792 $ 90,792 As royalties are remitted to PDL from ARPI LLC, as described in Note 1 10 December 31, 2019,

Note 8 - Legal Proceedings

Note 8 - Legal Proceedings	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Legal Matters and Contingencies [Text Block]	8. As of May 8, 2020, ten first Plumley v. Tetraphase Pharmaceuticals, Inc., et al. No. 1:20 00496, Plumley second Sahan v. Tetraphase Pharmaceuticals, Inc., et al. No. 1:20 03069, Sahan third Giacobbe v. Tetraphase Pharmaceuticals, Inc. et al. No. 1:20 10762, fourth Ravi v. Tetraphase Pharmaceuticals, Inc., et al. No. 1:20 03142, Ravi fifth Garity v. Tetraphase Pharmaceuticals, Inc., et al. No. 1:20 00542, Garity sixth Kashavena v. Tetraphase Pharmaceuticals, Inc., et al. No. 2081 01005, Kashavena seventh Waters v. Tetraphase Pharmaceuticals, Inc., et al. No. 1:20 01896, Waters eighth Gardner v. Tetraphase Pharmaceuticals, Inc., et al. No. 1:20 03352, Gardner ninth Kopczynski v. Tetraphase Pharmaceuticals, Inc., et al. No. 1:20 03426, Kopczynski tenth Lapi v. Tetraphase Pharmaceuticals, Inc., et al. No. 1:20 03452, Lapi The Plumley Sahan Giacobbe Ravi Garity Waters Gardner Kopczynski Lapi 14 14a 9 4 Sahan Kashavena Kashavena The complaints seek preliminary and permanent injunction of the proposed transaction and, if the merger is consummated, rescission or rescissory damages. The complaints also seek the dissemination of a registration statement that discloses certain information requested by the plaintiffs. In addition, the complaints seek attorneys’ and experts’ fees. The defendants believe that the Plumley Sahan Giacobbe Ravi Garity Kashavena Waters Gardner Kopczynski Lapi With respect to each of the matters described above in this Legal Proceedings section, the Company is currently unable to predict the ultimate outcome of these matters or reasonably estimate a possible loss or range of loss, and thus, no

Note 9 - Warrants

Note 9 - Warrants	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Warrants Disclosure [Text Block]	9. Loan Agreement Warrants In connection with the Loan Agreement, on May 30, 2019, 176,679 $2.83, March 31, 2020, 176,679 not May 2029.

Note 10 - Stock-based Compensat

Note 10 - Stock-based Compensation	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	10. The Company recorded total stock-based compensation expense for stock options, stock awards and the 2011 Three Months Ended 2020 2019 Cost of goods sold $ 46 $ 61 Research and development 200 224 Selling, general and administrative 900 822 Total $ 1,146 $ 1,107 As of March 31, 2020, 3,220,641 13,831,842 1,451,952 2011 2,052,431

Note 11 - Stockholders' Equity

Note 11 - Stockholders' Equity	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	11. Common Stock ATM Agreement The Company has entered into a Controlled Equity Offering SM may $40.0 May 9, 2019, may $40.0 $80.0 During the three March 31, 2020, 431,800 $0.8 March 31, 2020, $44.5

Note 12 - Net Loss Per Share of

Note 12 - Net Loss Per Share of Common Stock	3 Months Ended
	Mar. 31, 2020
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, restricted stock units, or RSUs, 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, 20 20 201 9 ESPP, RSUs and stock options to purchase common stock 15,630,340 13,983,586 Common stock warrants 176,679 —

Note 13 - Subsequent Events

Note 13 - Subsequent Events	3 Months Ended
	Mar. 31, 2020
Notes to Financial Statements
Subsequent Events [Text Block]	13. On May 6, 2020, $22 $12.5 May 8, 2020, May 8, 2020 1 2 not 3 not

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Business Description of Entity [Policy Text Block]	The Company 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 ® ® November 2, 2018, first 2019. June 2018, 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 is only 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 is required to train their healthcare professionals on the proper use of DSUVIA and have the ability to manage respiratory depression. DSUVIA is 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, 28 September 2015, December 16, 2013, July 22, 2015, July 17, 2015. Proposed Acquisition of Tetraphase Pharmaceuticals, Inc. On March 15, 2020, 0.6303 $12.5 one not June 8, 2020. The Company estimates that, upon completion of the merger, AcelRx shareholders will own approximately 85.4% 14.6% Co-Promotion Agreement On March 15, 2020, 15 not 10% one no three March 31, 2020. The Company has incurred recurring operating losses and negative cash flows from operating activities since inception. Although Zalviso was 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. “DZUVEO” is a trademark, and “ACELRX”, “DSUVIA” 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 7
Reclassification, Comparability Adjustment [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 United States. Securities and Exchange Commission, or SEC. Accordingly, they do not Operating results for the three March 31, 2020, not may December 31, 2020. December 31, 2019, December 31, 2019, 10 10 December 31, 2019,
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 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
Costs Associated with Exit or Disposal Activities or Restructurings, Policy [Policy Text Block]	Restructuring Costs The Company's restructuring costs consist of employee termination benefit costs. Liabilities for costs associated with the cost reduction plan are recognized when the liability is incurred and are measured at fair value. One-time termination benefits are expensed at the date the Company notifies the employee, unless the employee must provide future service, in which case the benefits are expensed ratably over the future service period. On March 16, 2020, 30 three March 31, 2020, $0.5 $0.2 March 31, 2020. The headcount reduction was completed in the first 2020. No
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Pronouncements In June 2016, 2016 13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments, 2016 13. 2016 13 2016 13 January 1, 2023, January 1, 2020. May 2019, 2019 05, Financial Instruments – Credit Losses” 2019 05, 2016 13. 2016 13 2019 05 not In March 2020, 2020 04, Reference Rate Reform (Topic 848 may December 31, 2022.

Note 2 - Investments and Fair_2

Note 2 - Investments and Fair Value Measurement (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Cash, Cash Equivalents and Investments [Table Text Block]	As of March 31, 2020 Amortized Cost Gross Unrealized Gross Unrealized Fair Cash and cash equivalents: Cash $ 3,188 $ — $ — $ 3,188 Money market funds 16,102 — — 16,102 Commercial paper 4,596 — — 4,596 Total cash and cash equivalents 23,886 — — 23,886 Short-term investments: U.S. government agency securities 2,008 — — 2,008 Commercial paper 25,155 — — 25,155 Corporate debt securities 1,676 — — 1,676 Total short-term investments 28,839 — — 28,839 Total cash, cash equivalents and short-term investments $ 52,725 $ — $ — $ 52,725 As of December 31, 2019 Amortized Cost Gross Unrealized Gross Unrealized Fair Cash and cash equivalents: Cash $ 1,957 $ — $ — $ 1,957 Money market funds 598 — — 598 Commercial paper 12,129 — — 12,129 Total cash and cash equivalents 14,684 — — 14,684 Short-term investments: U.S. government agency securities 14,268 — — 14,268 Commercial paper 27,131 — — 27,131 Corporate debt securities 10,054 — — 10,054 Total short-term investments 51,453 — — 51,453 Total cash, cash equivalents and short-term investments $ 66,137 $ — $ — $ 66,137
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	As of March 31, 2020 Fair Value Level I Level II Level III Assets Money market funds $ 16,102 $ 16,102 $ — $ — U.S. government agency securities 2,008 — 2,008 — Commercial paper 29,751 — 29,751 — Corporate debt securities 1,676 — 1,676 — Total assets measured at fair value $ 49,537 $ 16,102 $ 33,435 $ — Liabilities Contingent put option liability $ 746 $ — $ — $ 746 Total liabilities measured at fair value $ 746 $ — $ — $ 746 As of December 31, 2019 Fair Value Level I Level II Level III Assets Money market funds $ 598 $ 598 $ — $ — U.S. government agency securities 14,268 — 14,268 — Commercial paper 39,260 — 39,260 — Corporate debt securities 10,054 — 10,054 — Total assets measured at fair value $ 64,180 $ 598 $ 63,582 $ — Liabilities Contingent put option liability $ 437 $ — $ — $ 437 Total liabilities measured at fair value $ 437 $ — $ — $ 437
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Three Months Fair value—beginning of period $ 437 Change in fair value of contingent put option associated with the Loan Agreement 309 Fair value—end of period $ 746 Three Months Fair value—beginning of period $ 121 Change in fair value of contingent put option associated with the Prior Agreement with Hercules (see Note 5) (23 ) Fair value—end of period $ 98

Note 3 - Inventories (Tables)

Note 3 - Inventories (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule of Inventory, Current [Table Text Block]	Balance as of March 31, 20 20 December 31, 201 9 Raw materials $ 1,146 $ 1,153 Work-in-process — 593 Finished goods 1,953 1,549 Total $ 3,099 $ 3,295

Note 4 - Revenue from Contrac_2

Note 4 - Revenue from Contracts with Customers (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended March 31, 2020 2019 Product sales: DSUVIA $ 155 $ 47 Zalviso 119 79 Total product sales 274 126 Contract and other collaboration: Non-cash royalty revenue related to Royalty Monetization (See Note 7) 84 85 Royalty revenue 28 26 Other revenue — 28 Total revenues from contract and other collaboration 112 139 Total revenue $ 386 $ 265
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	Balance at Beginning of the Period Additions Deductions Balance at the end of the Period Contract liability: Deferred revenue – Amended Agreements $ 3,148 $ — $ (79 ) $ 3,069 Deferred revenue – Other 96 — — 96 Deferred revenue $ 3,244 $ — $ (79 ) $ 3,165 Three Months Ended March 31, 2020 2019 Amounts included in contract liabilities at the beginning of the period: Performance obligations satisfied – Amended Agreements $ 79 $ 79 New activities in the period from performance obligations satisfied: Performance obligations satisfied – Amended Agreements 40 28 Total revenue from performance obligations satisfied $ 119 $ 107

Note 6 - Leases (Tables)

Note 6 - Leases (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Lease, Cost [Table Text Block]	Three Months 20 Operating lease costs $ 340 Sublease income (150 ) Net lease costs $ 190 March 31, 20 20 Weighted-average remaining term – operating lease (in years) 3.83 Weighted-average discount rate – operating lease 11.72 %
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Year: 2020 (remaining nine months) $ 953 2021 1,305 2022 1,345 2023 1,386 2024 116 Total future minimum lease payments 5,105 Less imputed interest (676 ) Total $ 4,429 Operating lease liabilities $ 1,008 Operating lease liabilities, net of current portion 3,421 Total lease liability $ 4,429
Lessee, Operating Sublease, to Be Received, Maturity [Table Text Block]	Year: 2020 (remaining nine months) $ 446 2021 610 2022 629 2023 648 2024 54 Total future minimum sublease payments $ 2,387 Prepaid expenses and other current assets $ 82 Other assets 331 Total rent receivable $ 413

Note 7 - Liability Related to_2

Note 7 - Liability Related to Sale of Future Royalties (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Other Liabilities [Table Text Block]	Three months ended 20 Period from inception to March 31, 20 20 Liability related to sale of future royalties — beginning balance $ 92,035 $ — Proceeds from sale of future royalties — 61,184 Non-cash royalty revenue (79 ) (763 ) Non-cash interest (income) expense recognized (843 ) 30,692 Liability related to sale of future royalties as of March 31, 2020 91,113 91,113 Less: current portion (321 ) (321 ) Liability related to sale of future royalties — net of current portion $ 90,792 $ 90,792

Note 10 - Stock-based Compens_2

Note 10 - Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Three Months Ended 2020 2019 Cost of goods sold $ 46 $ 61 Research and development 200 224 Selling, general and administrative 900 822 Total $ 1,146 $ 1,107

Note 12 - Net Loss Per Share _2

Note 12 - Net Loss Per Share of Common Stock (Tables)	3 Months Ended
	Mar. 31, 2020
Notes Tables
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	March 31, 20 20 201 9 ESPP, RSUs and stock options to purchase common stock 15,630,340 13,983,586 Common stock warrants 176,679 —

Note 1 - Organization and Sum_2

Note 1 - Organization and Summary of Significant Accounting Policies (Details Textual) $ in Millions	Mar. 16, 2020	Mar. 31, 2020USD ($)	Mar. 15, 2020USD ($)shares
Co-Promotion Agreement, Percent of Net Sales to be Paid as Royalty Contingent on Performance Standards			10.00%
Restructuring and Related Cost, Number of Positions Eliminated	30
Restructuring Charges, Total		$ 0.5
Restructuring Reserve, Ending Balance		$ 0.2
Tetraphase [Member]
Business Combination, Number of Common Shares Called by Each Right (in shares) | shares			0.6303
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High			$ 12.5
Business Acquisition, Percentage of Voting Interests Acquired			85.40%
Business Acquisition, Percentage of Voting Interests Remaining With Acquired Entity Shareholders			14.60%

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, 2020	Dec. 31, 2019
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, 2020	Dec. 31, 2019
Amortized Cost	$ 52,725	$ 66,137
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value	52,725	66,137
Cash and Cash Equivalents [Member]
Amortized Cost	23,886	14,684
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value	23,886	14,684
Cash and Cash Equivalents [Member] | Cash [Member]
Amortized Cost	3,188	1,957
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value	3,188	1,957
Cash and Cash Equivalents [Member] | Money Market Funds [Member]
Amortized Cost	16,102	598
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value	16,102	598
Cash and Cash Equivalents [Member] | Commercial Paper [Member]
Amortized Cost	4,596	12,129
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value	4,596	12,129
Cash and Cash Equivalents [Member] | U.S. Government Agency Securities [Member]
Amortized Cost		14,268
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value		14,268
Marketable Securities [Member]
Amortized Cost	28,839	51,453
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value	28,839	51,453
Marketable Securities [Member] | Commercial Paper [Member]
Amortized Cost	25,155	27,131
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value	25,155	27,131
Marketable Securities [Member] | U.S. Government Agency Securities [Member]
Amortized Cost	2,008
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value	2,008
Marketable Securities [Member] | Corporate Debt Securities [Member]
Amortized Cost	1,676	10,054
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value	$ 1,676	$ 10,054

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, 2020	Dec. 31, 2019
Assets, fair value	$ 49,537	$ 64,180
Liabilities, fair value	746	437
Contingent Put Option Liability [Member]
Liabilities, fair value	746	437
Fair Value, Inputs, Level 1 [Member]
Assets, fair value	16,102	598
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	33,435	63,582
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	746	437
Fair Value, Inputs, Level 3 [Member] | Contingent Put Option Liability [Member]
Liabilities, fair value	746	437
Money Market Funds [Member]
Assets, fair value	16,102	598
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Assets, fair value	16,102	598
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
U.S. Government Agency Securities [Member]
Assets, fair value	2,008	14,268
U.S. Government Agency Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Assets, fair value
U.S. Government Agency Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Assets, fair value	2,008	14,268
U.S. Government Agency Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Assets, fair value
Commercial Paper [Member]
Assets, fair value	29,751	39,260
Commercial Paper [Member] | Fair Value, Inputs, Level 1 [Member]
Assets, fair value
Commercial Paper [Member] | Fair Value, Inputs, Level 2 [Member]
Assets, fair value	29,751	39,260
Commercial Paper [Member] | Fair Value, Inputs, Level 3 [Member]
Assets, fair value
Corporate Debt Securities [Member]
Assets, fair value	1,676	10,054
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Assets, fair value
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Assets, fair value	1,676	10,054
Corporate Debt Securities [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, 2020	Mar. 31, 2019
Fair value, Beginning of period	$ 437	$ 121
Change in fair value of contingent put option associated with the Loan Agreement	309
Change in fair value of contingent put option associated with the Prior Agreement with Hercules (see Note 5)		(23)
Fair value, End of period	$ 746	$ 98

Note 3 - Inventories (Details T

Note 3 - Inventories (Details Textual) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)
Inventory Write-down	$ 0.1

Note 3 - Inventories - Inventor

Note 3 - Inventories - Inventory Components (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Raw materials	$ 1,146	$ 1,153
Work-in-process		593
Finished goods	1,953	1,549
Total	$ 3,099	$ 3,295	[1]
[1]	The condensed consolidated balance sheet as of December 31, 2019 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, 2019.

Note 4 - Revenue from Contrac_3

Note 4 - Revenue from Contracts with Customers (Details Textual) - USD ($) $ in Millions	Mar. 31, 2020	Jul. 17, 2015
Deferred Revenue, Noncurrent, Total	$ 3.1
Deferred Revenue, Current, Total	$ 0.3
Amended License Agreement [Member]
Revenue Recognition Milestone Method Agreed, Additional Amount, Based On Efforts And Targets		$ 194.5
Amended License Agreement [Member] | Based upon Successful Regulatory and Product Development Efforts [Member]
Revenue Recognition Milestone Method Agreed, Additional Amount, Based On Efforts And Targets		28.5
Amended License Agreement [Member] | Based upon Net Sales Target Achievements [Member]
Revenue Recognition Milestone Method Agreed, Additional Amount, Based On Efforts And Targets		166
Amended MSA [Member]
Revenue Recognition Milestone Method Agreed, Additional Amount, Based On Efforts And Targets		$ 28.5

Note 4 - Revenue from Contrac_4

Note 4 - Revenue from Contracts with Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenue	$ 386	$ 265
DSUVIA [Member]
Revenue	155	47
ZALVISO [Member]
Revenue	119	79
Product [Member]
Revenue	274	126
Non-cash Royalty [Member]
Revenue	84	85
Royalty [Member]
Revenue	28	26
Contract and Other Revenue [Member]
Revenue		28
Contract and Other Collaboration [Member]
Revenue	$ 112	$ 139

Note 4 - Revenue from Contrac_5

Note 4 - Revenue from Contracts with Customers - Changes in Contract Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Contract Liabilities: Deferred Revenue	$ 3,244
Contract Liabilities: Deferred Revenue, Deductions	(79)
Revenue	386	$ 265
Contract Liabilities: Deferred Revenue, Additions
Contract Liabilities: Deferred Revenue	3,165
ZALVISO [Member]
Contract Liabilities: Deferred Revenue	3,148
Contract Liabilities: Deferred Revenue, Deductions	(79)
Revenue	119	79
Contract Liabilities: Deferred Revenue, Additions
Contract Liabilities: Deferred Revenue	3,069
Amended License Agreement [Member]
Amounts included in contract liabilities at the beginning of the period: Performance obligations satisfied – Amended Agreements	79	79
Revenue	119	107
New activities in the period from performance obligations satisfied: Performance obligations satisfied – Amended Agreements	40	$ 28
Product and Service, Other [Member]
Contract Liabilities: Deferred Revenue	96
Contract Liabilities: Deferred Revenue, Deductions
Contract Liabilities: Deferred Revenue, Additions
Contract Liabilities: Deferred Revenue	$ 96

Note 5 - Long-term Debt (Detail

Note 5 - Long-term Debt (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	Aug. 01, 2019	May 30, 2019	Mar. 31, 2020	Mar. 31, 2019
Repayments of Long-term Debt, Total				$ 2,064
Interest Expense, Total			855	376
Fair Value of Contingent Put Option, Liability			271	99
Leasehold Improvements [Member]
Capital Leases, Balance Sheet, Assets by Major Class, Net, Total			1,700
Warrant In Connection with Oxford Finance Loan Agreement [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)		176,679
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)		$ 2.83
Loan Agreement with Oxford Finance LLC [Member]
Repayments of Long-term Debt, Total		$ 8,900
Interest Expense, Total			800
Fair Value of Contingent Put Option, Liability			200
Debt Instrument, Face Amount		25,000
Proceeds from Debt, Net of Issuance Costs and Repayment of Debt		15,900
Hercules Loan and Security Agreement [Member]
Repayments of Long-term Debt, Total		8,900
Long-term Debt, Gross		7,400
Debt Instrument, Termination Fee		1,300
Gain (Loss) on Extinguishment of Debt, Total		$ (200)
Interest Expense, Total				400
Fair Value of Contingent Put Option, Liability				$ 100
Site Readiness Agreement [Member]
Debt Instrument, Periodic Payment, Principal	$ 500
Total Obligation Under Leasehold Agreement			$ 2,000
Debt Instrument, Interest Rate, Effective Percentage			14.35%

Note 6 - Leases (Details Textua

Note 6 - Leases (Details Textual) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)
Percentage of Office and Laboratory Space Sublease	47.00%
Operating Lease, Payments	$ 0.3

Note 6 - Leases - Operating Lea

Note 6 - Leases - Operating Lease Costs (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Operating lease costs	$ 340
Sublease income	(150)
Net lease costs	$ 190
Weighted-average remaining term – operating lease (in years) (Year)	3 years 302 days
Weighted-average discount rate – operating lease	11.72%

Note 6 - Leases - Maturities of

Note 6 - Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	[1]
2020 (remaining nine months)	$ 953
2021	1,305
2022	1,345
2023	1,386
2024	116
Total future minimum lease payments	5,105
Less imputed interest	(676)
Total	4,429
Operating lease liabilities	1,008	$ 970
Operating lease liabilities, net of current portion	3,421	$ 3,640
Total lease liability	$ 4,429
[1]	The condensed consolidated balance sheet as of December 31, 2019 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, 2019.

Note 6 - Leases - Future Minimu

Note 6 - Leases - Future Minimum Sublease Payments (Details) $ in Thousands	Mar. 31, 2020USD ($)
2020 (remaining nine months)	$ 446
2021	610
2022	629
2023	648
2024	54
Total future minimum sublease payments	2,387
Rent receivable	413
Prepaid Expenses and Other Current Assets [Member]
Rent receivable	82
Other Assets [Member]
Rent receivable	$ 331

Note 7 - Liability Related to_3

Note 7 - Liability Related to Sale of Future Royalties (Details Textual) - USD ($) $ in Millions	Sep. 18, 2015	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019
Proceeds From Sale of Royalty and Milestone Rights	$ 65
Royalty Arrangment Maximum Payments	$ 195
Prospective Average Rate for Remaining Term of the Agreement			4.20%
Estimate Future Payments Receivable Over Remaining Life of Arrangment		$ 20
Contingent Gain (Loss) on Royalty Monetization Arrangement		$ 45
Effective Interest Over Life of Liability Related to Sale of Future Royalties		0.00%
Effective Annual Interest Rate		4.00%		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 7 - Liability Related to_4

Note 7 - Liability Related to Sale of Future Royalties - Activity of Liability Related to Sale of Future Royalties (Details) - USD ($) $ in Thousands	3 Months Ended		54 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Dec. 31, 2019	[1]
Liability related to sale of future royalties — beginning balance	$ 92,035
Proceeds from sale of future royalties			61,184
Non-cash royalty revenue	(79)		(763)
Non-cash interest (income) expense recognized	(843)	$ 1,607	30,692
Liability related to sale of future royalties as of March 31, 2020	91,113		91,113
Less: current portion	(321)		(321)	$ (352)
Liability related to sale of future royalties — net of current portion	$ 90,792		$ 90,792	$ 91,683
[1]	The condensed consolidated balance sheet as of December 31, 2019 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, 2019.

Note 9 - Warrants (Details Text

Note 9 - Warrants (Details Textual) - Warrant In Connection with Oxford Finance Loan Agreement [Member] - $ / shares	Mar. 31, 2020	May 30, 2019
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)		176,679
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)		$ 2.83
Class of Warrant or Right, Outstanding (in shares)	176,679

Note 10 - Stock-based Compens_3

Note 10 - Stock-based Compensation (Details Textual)	Mar. 31, 2020shares
2011 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)	3,220,641
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares)	13,831,842
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 (in shares)	1,451,952
Employee Stock Purchase Plan (ESPP) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)	2,052,431

Note 10 - Stock-based Compens_4

Note 10 - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Stock-based compensation expense	$ 1,146	$ 1,107
Cost of Sales [Member]
Stock-based compensation expense	46	61
Research and Development Expense [Member]
Stock-based compensation expense	200	224
Selling, General and Administrative Expenses [Member]
Stock-based compensation expense	$ 900	$ 822

Note 11 - Stockholders' Equity

Note 11 - Stockholders' Equity (Details Textual) - USD ($) $ in Thousands	May 09, 2019	Jun. 21, 2016	Mar. 31, 2020
Stock Issued During Period, Value, New Issues			$ 784
ATM Agreement [Member]
Proceeds from Issuance Initial Public Offering	$ 80,000	$ 40,000	$ 800
Aggregate Offering Price, Increase During Period	$ 40,000
Stock Issued During Period, Shares, New Issues (in shares)			431,800
Stock Issued During Period, Value, New Issues			$ 44,500

Note 12 - Net Loss Per Share _3

Note 12 - 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, 2020	Mar. 31, 2019
RSU's, ESPP, and Employee Stock Options [Member]
Antidilutive securities (in shares)	15,630,340	13,983,586
Warrant [Member]
Antidilutive securities (in shares)	176,679

Note 13 - Subsequent Events (De

Note 13 - Subsequent Events (Details Textual) - Tetraphase [Member] - USD ($) $ in Millions	May 06, 2020	Mar. 15, 2020
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High		$ 12.5
La Jolla [Member] | Subsequent Event [Member]
Payments to Acquire Businesses, Gross	$ 22
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	$ 12.5