Insys Therapeutics (INSY) 10-Q 12 Aug 14 2014 Q2 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	6 Months Ended
	Jun. 30, 2014	Aug. 05, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'Insys Therapeutics, Inc.	'
Document Type	'10-Q	'
Current Fiscal Year End Date	'--12-31	'
Entity Common Stock, Shares Outstanding	'	34,540,187
Amendment Flag	'false	'
Entity Central Index Key	'0001516479	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Well-known Seasoned Issuer	'No	'
Document Period End Date	30-Jun-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current Assets:	'	'
Cash and cash equivalents	$46,139	$45,382
Restricted cash	'	400
Short-term investments	8,599	'
Accounts receivable, net of allowances for doubtful accounts of $642 and $0 at June 30, 2014 and December 31, 2013, respectively	15,687	16,313
Inventories	24,706	14,528
Prepaid expenses and other assets	3,038	1,727
Deferred income tax assets	4,045	3,800
Total current assets	102,214	82,150
Property and equipment, net	17,434	10,127
Long-term investments	20,560	'
Deferred income tax assets	9,615	8,238
Other assets	43	43
Total assets	149,866	100,558
Current Liabilities:	'	'
Accounts payable and accrued expenses	15,070	12,173
Accrued compensation	6,140	3,568
Accrued sales allowances	7,124	5,340
Total current liabilities	28,334	21,081
Total liabilities	28,334	21,081
Stockholders' Equity:	'	'
Common stock (par value $0.01 per share; 100,000,000 and 50,000,000 shares authorized; 34,501,956 and 33,184,892 shares issued and outstanding as of June 30, 2014 and December 31, 2013, respectively)	345	332
Additional paid in capital	193,123	168,199
Unrealized loss on available-for-sale securities	-5	'
Notes receivable from stockholders	-21	-21
Accumulated deficit	-71,910	-89,033
Total stockholders' equity	121,532	79,477
Total liabilities and stockholders' equity	$149,866	$100,558

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified
Accounts receivable, allowances for doubtful accounts (in Dollars)	$642	$0
Common stock par value per share (in Dollars per share)	$0.01	$0.01
Common stock shares authorized	100,000,000	50,000,000
Common stock shares issued	34,501,956	33,184,892
Common stock shares outstanding	34,501,956	33,184,892

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Comprehensive Income and Comprehensive Income (Unaudited) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Net revenue	$55,696	$18,821	$97,332	$29,880
Cost of revenue	6,555	2,594	11,328	4,358
Gross profit	49,141	16,227	86,004	25,522
Sales and marketing	14,077	6,331	25,695	10,754
Research and development	9,189	1,921	13,197	3,611
General and administrative	10,689	2,787	19,257	5,149
Total operating expenses	33,955	11,039	58,149	19,514
Operating income	15,186	5,188	27,855	6,008
Interest expense	'	-272	'	-945
Interest income	26	'	43	'
Other income (expense), net	'	6	2	2
Total other income (expense)	26	-266	45	-943
Income before income taxes	15,212	4,922	27,900	5,065
Income tax expense	5,747	375	10,777	375
Net income	9,465	4,547	17,123	4,690
Unrealized gain (loss) on available-for-sale securities	13	'	-5	'
Total comprehensive income	$9,478	$4,547	$17,118	$4,690
Basic (in Dollars per share)	$0.28	$0.18	$0.50	$0.24
Diluted (in Dollars per share)	$0.26	$0.17	$0.47	$0.23
Basic (in Shares)	34,298,326	24,972,357	33,932,371	19,524,843
Diluted (in Shares)	36,336,577	26,058,102	36,547,822	20,582,906

Condensed_Consolidated_Stateme1

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) (USD $)	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Net Unrealized Investment Gain (Loss) [Member]	Receivables from Stockholder [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total
In Thousands, except Share data
Balance at December 31, 2013 at Dec. 31, 2013	$332	$168,199	'	($21)	($89,033)	$79,477
Balance at December 31, 2013 (in Shares) at Dec. 31, 2013	33,184,892	'	'	'	'	'
Exercise of stock options	11	3,232	'	'	'	3,243
Exercise of stock options (in Shares)	1,100,502	'	'	'	'	1,100,502
Issuance of common stock - employee stock purchase plan	2	1,106	'	'	'	1,108
Issuance of common stock - employee stock purchase plan (in Shares)	216,562	'	'	'	'	'
Excess tax benefits on stock options and awards	'	12,399	'	'	'	12,399
Stock based compensation - stock options and awards	'	8,187	'	'	'	8,187
Unrealized loss on available-for-sale securities	'	'	-5	'	'	-5
Net income	'	'	'	'	17,123	17,123
Balance at June 30, 2014 at Jun. 30, 2014	$345	$193,123	($5)	($21)	($71,910)	$121,532
Balance at June 30, 2014 (in Shares) at Jun. 30, 2014	34,501,956	'	'	'	'	'

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Cash flows from operating activities:	'	'
Net income	$17,123,000	$4,690,000
Depreciation and amortization	1,107,000	865,000
Stock-based compensation	8,187,000	2,404,000
Deferred income tax benefit	-1,622,000	'
Excess tax benefits on stock options and awards	-12,399,000	'
Interest expense accrued on notes payable	'	900,000
Changes in operating assets and liabilities:	'	'
Accounts receivable	626,000	-6,041,000
Inventories	-10,178,000	-1,583,000
Prepaid expenses and other current assets	-1,311,000	342,000
Accounts payable, accrued expenses, and other current liabilities	19,652,000	1,409,000
Net cash provided by operating activities	21,185,000	2,986,000
Cash flows from investing activities:	'	'
Change in restricted cash	400,000	'
Purchase of investments	-29,164,000	'
Purchases of property and equipment	-8,414,000	-2,230,000
Net cash used in investing activities	-37,178,000	-2,230,000
Cash flows from financing activities:	'	'
Proceeds from issuance of common stock	1,108,000	32,456,000
Net repayments on line of credit	'	-11,858,000
Excess tax benefits on stock options and awards	12,399,000	'
Proceeds from exercise of stock options	3,243,000	31,000
Net cash provided by financing activities	16,750,000	20,629,000
Change in cash and cash equivalents	757,000	21,385,000
Cash and cash equivalents, beginning of period	45,382,000	361,000
Cash and cash equivalents, end of period	46,139,000	21,746,000
Supplemental cash flow disclosures:	'	'
Cash paid for interest expense	0	0
Cash paid for income taxes	$2,199,000	$0

Note_1_Nature_of_Business_and_

Note 1 - Nature of Business and Basis of Presentation	6 Months Ended
	Jun. 30, 2014
Disclosure Text Block [Abstract]	'
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	'
	1.       Nature of Business and Basis of Presentation
	Insys Therapeutics, Inc., which was incorporated in Delaware in June 1990, and our subsidiaries (collectively, “we,” “us,” and “our”) maintain headquarters in Chandler, Arizona.
	We are a specialty pharmaceutical company that develops and commercializes innovative supportive care products. We have two marketed products: Subsys, a proprietary sublingual fentanyl spray for breakthrough cancer pain in opioid-tolerant patients and Dronabinol SG Capsule, a generic equivalent to Marinol, an approved second-line treatment for chemotherapy-induced nausea and vomiting and anorexia associated with weight loss in patients with AIDS.
	The accompanying condensed consolidated financial statements are unaudited and have been prepared in accordance with U.S. generally accepted accounting principles, pursuant to rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the accompanying condensed consolidated financial statements include normal recurring adjustments that are necessary for a fair presentation of the results for the interim periods presented. These condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements and notes thereto for the fiscal year ended December 31, 2013 included in our Annual Report on Form 10-K. The results of operations for the three and six months ended June 30, 2014 are not necessarily indicative of results to be expected for the full fiscal year or any other periods.
	The preparation of the condensed consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make a number of estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an on-going basis, we evaluate our estimates, including those related to revenue recognition (which is affected by prescriptions dispensed, wholesaler discounts, patient discount programs, rebates and chargebacks), inventories, stock-based compensation expense, and deferred tax valuation allowances. We base our estimates on historical experience and on various other assumptions that are believed by management to be reasonable under the circumstances. Actual results may differ from these estimates.
	All significant intercompany balances and transactions have been eliminated in the accompanying unaudited condensed consolidated financial statements.
	On February 26, 2014, our board of directors approved a three-for-two stock split of our common stock to be effected through a stock dividend. The record date for the stock split was the close of business on March 17, 2014, with share distribution occurring on March 28, 2014. As a result of the dividend, shareholders received one additional share of Insys Therapeutics, Inc. common stock, par value $0.0002145, for each two shares they held as of the record date. All share and per share amounts have been retroactively restated for the effects of this stock split.
	On May 6, 2014, our shareholders approved an amendment to our certificate of incorporation to increase the authorized shares of common stock from 50,000,000 to 100,000,000 and an amendment to increase the par value for our common stock to $0.01 per share. Our condensed consolidated unaudited financial statements and notes contained herein have been retroactively restated to reflect the impact of these amendments.
	Recent Accounting Pronouncements
	In July 2013, the FASB issued guidance that requires a reporting entity to present an unrecognized tax benefit as a liability in the financial statements separate from deferred tax assets if a net operating loss carry forward, a similar tax loss, or a tax credit carryforward is not available as of the reporting date to settle taxes that would result from the disallowance of the tax position or if a reporting entity does not intend to use the deferred tax asset for such purpose. This standard was effective for us beginning December 31, 2013. The adoption of this standard did not have a material impact on our financial condition or results of operations.
	In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (ASU 2014-09), which supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU 2014-09 defines a five step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing U.S. GAAP. The standard is effective for annual periods beginning after December 15, 2016, and interim periods therein, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures). We are currently evaluating the impact of our pending adoption of ASU 2014-09 on our consolidated financial statements and have not yet determined the method by which we will adopt the standard in 2017.

Note_2_Revenue_Recognition

Note 2 - Revenue Recognition	6 Months Ended
	Jun. 30, 2014
Revenue Recognition [Abstract]	'
Revenue Recognition [Text Block]	'
	2.        Revenue Recognition
	We recognize revenue from the sale of Subsys and Dronabinol SG Capsule. Revenue is recognized when (i) persuasive evidence of an arrangement exists, (ii) delivery has occurred and title has passed, (iii) the price is fixed or determinable and (iv) collectability is reasonably assured.
	Subsys
	Subsys was commercially launched in March 2012, and is available through a U.S. Food and Drug Administration (“FDA”) mandated Risk Evaluation and Mitigation program known as the Transmucosal Immediate Release Fentanyl program (“TIRF REMS”). We sell Subsys in the United States to wholesale pharmaceutical distributors, and on a very limited basis directly to retail pharmacies, or collectively our customers, subject to rights of return within a period beginning six months prior to, and ending 12 months following, product expiration. Subsys currently has a shelf life of 36 months from the date of manufacture. Given the limited sales history of prescriptions of Subsys, prior to the fourth quarter of 2013 we were not able to reliably estimate expected returns of the product at the time of shipment. Accordingly, we initially deferred the recognition of revenue and related product costs of Subsys product shipments until the product was dispensed through patient prescriptions. The quantity of prescription units dispensed was estimated using an analysis of third-party information, including TIRF REMS mandated data and third-party market research data. Beginning in the fourth quarter of 2013, we were able to reasonably estimate product returns of Subsys. Therefore, we began recognizing revenue for Subsys sales at the time of shipment.
	We recognize estimated product sales allowances as a reduction of product sales in the same period the related revenue is recognized. Product sales allowances are based on amounts owed or to be claimed on the related sales. These estimates take into consideration the terms of our agreements with customers and third-party payors and the levels of inventory within the distribution channels that may result in future discounts taken. In certain cases, such as patient assistance programs, we recognize the cost of patient discounts as a reduction of revenue based on estimated utilization. If actual future results vary, we may need to adjust these estimates, which could have an effect on product revenue in the period of adjustment. Our product sales allowances include:
	Product Returns. We allow customers to return product for credit within six months before and up to 12 months following its product expiration date. The shelf life of Subsys is currently 36 months from the date of manufacture. We have monitored actual return history since product launch, which provides us with a basis to reasonably estimate future product returns, taking into consideration the shelf life of product at the time of shipment, shipment and prescription trends, estimated distribution channel inventory levels, and consideration of the introduction of competitive products.
	Because of the shelf life of our products and our return policy of issuing credits on returned product that is within six months before and up to 12 months after its product expiration date, there may be a significant period of time between when the product is shipped and when we issue credits on returned product. Accordingly, we may have to adjust these estimates, which could have an effect on product sales and earnings in the period of adjustments. The allowance for product returns is included in accrued sales allowances.
	Wholesaler Discounts.    We offer discounts to certain wholesale distributors based on contractually determined rates. We accrue the discount as a reduction of receivables due from the wholesalers upon shipment to the respective wholesale distributors and retail pharmacies and recognize the discount as a reduction of revenue in the same period the related revenue is recognized.
	Prompt Pay Discounts.    We offer cash discounts to our customers, generally 2.0% of the sales price, as an incentive for prompt payment. We account for cash discounts by reducing accounts receivable by the full amount and recognize the discount as a reduction of revenue in the same period the related revenue is recognized.
	Patient Discount Programs.    We offer discount card programs to patients for Subsys in which patients receive discounts on their prescriptions that are reimbursed to the retailer. We estimate the total amount that will be redeemed based on a percentage of actual redemption applied to inventory in the distribution and retail channel and recognize the discount as a reduction of revenue in the same period the related revenue is recognized. The allowance for patient discount programs is included in accrued sales allowances.
	Rebates.    We participate in certain rebate programs, which provide discounted prescriptions to qualified insured patients. Under these rebate programs, we pay a rebate to the third-party administrator of the program, generally two to three months after the quarter in which prescriptions subject to the rebate are filled. We estimate and accrue these rebates based on current contract prices, historical and estimated future percentages of products sold to qualified patients and estimated levels of inventory in the distribution channel. Rebates are recognized as a reduction of revenue in the period the related revenue is recognized. The allowance for rebates is included in accrued sales allowances.
	Chargebacks.    We provide discounts primarily to authorized users of the Federal Supply Schedule (“FSS”) of the General Services Administration under an FSS contract negotiated by the Department of Veterans Affairs and various organizations under Medicaid contracts and regulations. These entities purchase products from the wholesale distributors at a discounted price, and the wholesale distributors then charge back to us the difference between the current retail price and the price the entity paid for the product. We estimate and accrue chargebacks based on estimated wholesaler inventory levels, current contract prices and historical chargeback activity. Chargebacks are recognized as a reduction of revenue in the same period the related revenue is recognized. The allowance for chargebacks is included as a reduction to accounts receivable.
	Dronabinol SG Capsule
	Dronabinol SG Capsule was commercially launched in December 2011, and we sell Dronabinol SG Capsule exclusively to Mylan Pharmaceuticals, Inc. (“Mylan”) in the United States under a supply and distribution agreement. Pursuant to the terms of the Mylan agreement, we manufacture Dronabinol SG Capsule under the Mylan label. Mylan distributes Dronabinol SG Capsule and on a monthly basis pays us an amount equal to the value of Dronabinol SG Capsule it sold to wholesale pharmaceutical distributors, less contractually defined deductions for chargebacks, rebates, sales discounts, distribution and storage fees, and royalties. Under the terms of the supply and distribution agreement with Mylan, we are obligated to pay Mylan a royalty of between 10% and 20% on Mylan’s net product sales, and a single digit percentage fee on such sales for distribution and storage services. We bear no risk of product return upon acceptance by Mylan. As Mylan has control over the amount it charges to wholesale pharmaceutical distributors for Dronabinol SG Capsule and the discounts offered to the distributors, the sales price is not fixed and determinable at the date we ship such products to Mylan. Accordingly, we recognize revenue upon Mylan’s sale of products to wholesale distributors, which is the point at which the sales price is fixed and determinable. The allowance for chargebacks is included in accrued expense. See Note 7 for a discussion on our ongoing dispute with Mylan.

Note_3_ShortTerm_and_LongTerm_

Note 3 - Short-Term and Long-Term Investments	6 Months Ended
	Jun. 30, 2014
Investments Schedule [Abstract]	'
Investment [Text Block]	'
	3	Short-Term and Long-Term Investments
	Our policy for short-term and long-term investments is to establish a high-quality portfolio that preserves principal, meets liquidity needs, avoids inappropriate concentrations and delivers an appropriate yield in relationship to our investment guidelines and market conditions. Short-term and long-term investments consist of corporate and various government agency and municipal debt securities, as well as certificates of deposit that have maturity dates that are greater than 90 days. Certificates of deposit are carried at cost which approximates fair value. We classify our marketable securities as available-for-sale in accordance with FASB Accounting Standards Codification Topic 320, Investments — Debt and Equity Securities. Available-for-sale securities are carried at fair value with unrealized gains and losses reported in stockholders’ equity. A decline in the market value of any available-for-sale security below cost that is deemed to be other than temporary, results in impairment of the fair value of the investment. We did not have any realized gains or losses or decline in values judged to be other than temporary during the six months ended June 30, 2014. If we had realized gains and losses and declines in value judged to be other than temporary, we would have been required to include those changes in other expense in the condensed consolidated statements of income and comprehensive income. Premiums and discounts are amortized or accreted over the life of the related available-for-sale security. The cost of securities sold is calculated using the specific identification method. At June 30, 2014, our certificates of deposit as well as our marketable securities have been recorded at an estimated fair value of $8,599,000 and $20,560,000 in short-term and long-term investments, respectively.
	Investments consisted of the following at June 30, 2014 (in thousands):
			30-Jun-14
			Cost		Unrealized			Unrealized			Other-		Fair		Cash and		Short-term			Long-term
					Gains			Losses			Than-		Value		Cash		Investments			Investments
											Temporary				Equivalents
											Impairment
											Losses
	Cash		$	22,068	$	-		$	-		$	-	$	22,068	$	22,068	$	-		$	-
	Money market funds			21,783		-			-			-		21,783		21,783		-			-
	Certificates of deposit			4,825		-			-			-		4,825		-		1,405			3,420
	Marketable securities:
	Corporate securities			9,087		-			(6	)		-		9,081		-		4,343			4,738
	Federal agency securities			10,019		3			(7	)		-		10,015		-		1,000			9,015
	Municipal securities			7,521		5			-			-		7,526		2,288		1,851			3,387
	Total marketable securities			26,627		8			(13	)		-		26,622		2,288		7,194			17,140
																			`
			$	75,303	$	8		$	(13	)	$	-	$	75,298	$	46,139	$	8,599		$	20,560
	We did not have marketable securities at December 31, 2013.
	The amortized cost and estimated fair value of the marketable securities at June 30, 2014, by maturity, are shown below (in thousands):
			30-Jun-14
			Cost		Fair Value
	Marketable securities:
	Due in one year or less		$	8,599	$	8,599
	Due after one year through 5 years			20,565		20,560
	Due after 5 years through 10 years			-		-
	Due after 10 years			-		-
			$	29,164	$	29,159
	The following table shows the gross unrealized losses and the fair value of our investments, with unrealized losses that are not deemed to be other-than-temporarily impaired aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at June 30, 2014 (in thousands):
			30-Jun-14
			Less Than 12 Months					Greater Than 12 Months
			Fair Value		Unrealized Loss			Fair Value			Unrealized Loss
	Marketable securities:
	Corporate securities		$	9,081	$	(6	)	$	-		$	-
	Federal agency securities			6,993		(7	)		-			-
	Municipal securities			-		-			-			-
			$	16,074	$	(13	)	$	-		$	-
	As of June 30, 2014, we have concluded that the unrealized losses on our marketable securities are temporary in nature. Marketable securities are reviewed quarterly for possible other-than-temporary impairment. This review includes an analysis of the facts and circumstances of each individual investment such as the severity of loss, the expectation for that security’s performance and the creditworthiness of the issuer. Additionally, we do not intend to sell and it is not probable that we will be required to sell any of the securities before the recovery of their amortized cost basis.

Note_4_Fair_Value_Measurements

Note 4 - Fair Value Measurements	6 Months Ended
	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Disclosures [Text Block]	'
	4.      Fair Value Measurements
	FASB Accounting Standards Codification (“ASC”) No. 820, “Fair Value Measurement” defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. It also establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows:
	Level 1:	Observable inputs such as quoted prices in active markets;
	Level 2:	Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and
	Level 3:	Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.
	At June 30, 2014, we held short-term and long-term investments, as discussed in Note 3, that are required to be measured at fair value on a recurring basis.  All available-for-sale investments held by us at June 30, 2014 have been valued based on Level 2 inputs. Available-for-sale securities classified within Level 2 of the fair value hierarchy are valued utilizing reports from third-party asset managers that hold our investments, showing closing prices on the last business day of the period presented. These asset managers utilize an independent pricing source to obtain quotes for most fixed income securities, and utilize internal procedures to validate the prices obtained. In addition, we use an independent third-party to perform price testing, comparing a sample of quoted prices listed in the asset managers’ reports to quotes listed through a public quotation service.
	Our investments measured at fair value on a recurring basis subject to the disclosure requirements of ASC 820, Fair Value Measurements and Disclosures, at June 30, 2014 were as follows (in thousands):
			Fair Value Measurement at Reporting Date
			June 30,		Quoted		Significant		Significant
			2014		Prices in		Other		Unobservable
					active		Observable		Inputs
					Markets		Inputs		(Level 3)
					(Level 1)		(Level 2)
	Marketable securities:
	Corporate securities		$	9,081	$	-	$	9,081	$	-
	Federal agency securities			10,015		-		10,015		-
	Municipal securities			7,526		-		7,526		-
	Total assets measured at fair value		$	26,622	$	-	$	26,622	$	-
	We did not have any marketable securities at December 31, 2013.

Note_5_Inventories

Note 5 - Inventories	6 Months Ended
	Jun. 30, 2014
Inventory Disclosure [Abstract]	'
Inventory Disclosure [Text Block]	'
	5.        Inventories
	Inventories are stated at lower of cost or market. Cost, which includes amounts related to materials and costs incurred by our contract manufacturers, is determined on a first-in, first-out basis. Inventories are reviewed periodically for potential excess, dated or obsolete status. Management evaluates the carrying value of inventories on a regular basis, taking into account such factors as historical and anticipated future sales compared to quantities on hand, the price we expect to obtain for products in their respective markets compared with historical cost and the remaining shelf life of goods on hand.
	The components of inventories, net of allowances, are as follows (in thousands):
		June 30,		December 31,
		2014		2013
	Finished goods	$	15,505	$	8,084
	Work-in-process		4,795		3,886
	Raw materials and supplies		4,406		2,558
	Total inventories	$	24,706	$	14,528
	As of June 30, 2014 and December 31, 2013, raw materials inventories consisted of raw materials used in the manufacture of the active pharmaceutical ingredient (“API”) in our U.S.-based, state-of-the-art dronabinol manufacturing facility and component parts used in the manufacture of Subsys. Work-in-process consisted of actual production costs, including facility overhead and tolling costs of in-process Dronabinol SG Capsule and Subsys products. Finished goods inventories consisted of finished Dronabinol SG Capsule and Subsys products.

Note_6_Line_of_Credit

Note 6 - Line of Credit	6 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]	'
Debt Disclosure [Text Block]	'
	6.       Line of Credit
	In October 2013, we entered into a $15,000,000 revolving credit facility (the “Facility”) with JPMorgan Chase Bank, N.A., which includes a $500,000 letter of credit facility. Under the terms of the Facility, amounts outstanding bear interest at LIBOR plus 1.5% and the Facility is subject to a 0.35% non-usage fee. Advances are subject to a borrowing base such that the maximum advances that may be outstanding under the Facility is 80% of the book value of eligible accounts receivable. The Facility matures on September 30, 2014. As of June 30, 2014 and December 31, 2013, no amounts were outstanding and $15,000,000 and $12,200,000, respectively, was available to borrow, taking into account the applicable borrowing base limitations. The Facility is secured by all of our assets.
	The Facility contains covenants that limit our ability to, among other things, incur additional indebtedness, create or permit to exist liens, pay dividends or make other distributions relating to our common stock (including the repurchase of outstanding common stock). In addition, we are required to meet certain financial covenants, including (i) minimum cash liquidity (as defined in the Facility) equal to or greater than funded indebtedness and (ii) net income of at least $1.00 for any period of four consecutive fiscal quarters commencing with the quarter ended December 31, 2013.

Note_7_Contingencies

Note 7 - Contingencies	6 Months Ended
	Jun. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies Disclosure [Text Block]	'
	7.        Contingencies
	Legal Matters
	General Litigation and Disputes
	From time to time, in the normal course of our operations, we are a party to litigation and other dispute matters and claims. Currently such litigation includes proceedings to which Insys Therapeutics, Inc. and our wholly owned subsidiary, Insys Pharma, Inc., is a party. Litigation can be expensive and disruptive to normal business operations. Moreover, the results of complex legal proceedings are difficult to predict and our view of these matters may change in the future as the litigation and events related thereto unfold. An unfavorable outcome to any legal matter, if material, could have a materially adverse effect on our operations or our financial position, liquidity or results of operations. Following is a brief description of such litigation and dispute proceedings.
	Kottayil vs. Insys Pharma, Inc. On September 29, 2009, Insys Pharma, Inc., our wholly owned subsidiary, and certain of our officers and the five directors who comprised the Insys Pharma board of directors as of June 2009, as well as their spouses, were named as defendants in a lawsuit in the Superior Court of the State of Arizona, Maricopa County, or the Arizona Superior Court, brought by Santosh Kottayil, Ph.D., certain of his family members and a trust of which Dr. Kottayil is the trustee.
	Dr. Kottayil formerly served as President, Chief Scientific Officer and a director of Insys Pharma, among other positions. The complaint brought a cause of action for statutory and common law appraisal of Dr. Kottayil’s Insys Pharma common stock. The cause of action for appraisal relates to a reverse stock split that Insys Pharma effected in June 2009, which resulted in Dr. Kottayil’s ownership position becoming a fractional share of Insys Pharma common stock. Following the reverse stock split, Insys Pharma cancelled all resulting fractional shares, including the fractional share held by Dr. Kottayil, and offered a cash payment in lieu of the fractional shares. The complaint also brought causes of action for breach of fiduciary duty, fraud and negligent misrepresentation in the defendants’ dealings with Dr. Kottayil on the subject of his compensation and stock ownership in Insys Pharma. In January 2010, the plaintiffs added claims seeking to rescind Dr. Kottayil’s assignment to Insys Pharma of his interest in all of the fentanyl and dronabinol patent applications previously assigned to Insys Pharma and to recover the benefits of those interests. Dr. Kottayil is seeking, among other relief, the fair value of his Insys Pharma common stock as of June 2, 2009, compensatory and punitive damages, and rescission of all assignments to Insys Pharma of his interest in the patent applications, as well as attorneys’ fees, costs and interest.
	In February 2010, Insys Pharma and the other defendants answered and filed counter-claims to Dr. Kottayil’s amended complaint. The counter-claims include actions for breach of fiduciary duty, fraud and negligent misrepresentations and omissions with respect to the time during which Dr. Kottayil was employed at Insys Pharma. The counter-claims, among other relief, seek compensatory and punitive damages.
	Discovery on all of the foregoing claims was completed and a trial was scheduled to commence on January 27, 2014; however, on January 22, 2014, the court vacated the trial and granted plaintiffs leave to file an amended complaint to add Insys Therapeutics, Inc. as a defendant.
	On January 29, 2014, the plaintiffs filed a second amended complaint in the Arizona Superior Court in which Insys Therapeutics, Inc. was also named as defendant in this lawsuit. This amended complaint filed by plaintiffs re-alleges substantially the same claims set forth in the prior complaint, except that plaintiffs now allege that they are entitled to rescissory damages, plaintiffs have also added our majority stockholder, a private trust, as a defendant to the breach of fiduciary duty claim and plaintiffs have revised their fraud claim against the Insys Pharma director defendants.
	On February 25, 2014, we filed a Motion to Dismiss the Kottayil Plantiffs’ claims for a statutory and common law appraisal. The motion was denied on May 2, 2014.
	The court has set the case for trial commencing on December 1, 2014.
	Although there has been some discovery into the range of potential loss or any potential recovery from the counter-claims, that range is very broad and we are not able to provide a reasonable estimate of these figures at this time, nor are we able to predict the outcome of this litigation. If the patent assignments are successfully rescinded, we may not have exclusive patent rights covering our fentanyl and dronabinol product candidates, and such patent rights may not be available to us on acceptable terms, if at all, which would have a material adverse effect on our business. We intend to vigorously defend against the plaintiffs’ claims and pursue our counter-claims.
	Insys Therapeutics, Inc. vs. Mylan Pharmaceuticals.  On or around May 30, 2013, we filed a lawsuit against Mylan Pharmaceuticals, or Mylan, seeking a declaration that the parties’ Supply and Distribution Agreement dated May 20, 2011, or the Distribution Agreement, had been terminated because of Mylan’s material breach of the Distribution Agreement.  Mylan removed the action to the United States District Court for the District of Arizona, or the District Court, as Case No. 2:13-cv-01112-DGC, and moved to compel arbitration and sought a preliminary injunction.  The District Court compelled arbitration and issued a preliminary injunction requiring that the Distribution Agreement continue in full force and effect pending the outcome of arbitration. The District Court then dismissed the lawsuit.
	On May 31, 2013, Mylan filed a demand with the American Arbitration Association, Case No. 55 122 00119 13.  Mylan’s demand alleged that we were in breach of the Distribution Agreement.  On July 10, 2013, we filed a response to Mylan’s demand, denying we were in breach of the Distribution Agreement, and asserting counterclaims based on Mylan’s material breach of the Distribution Agreement and the duty of good faith and fair dealing.  On January 13, 2014, the three-member arbitration panel held a preliminary hearing, where it ordered Mylan to submit an amended and detailed demand by February 3, 2014, to which we responded and submitted amended counterclaims on February 4, 2014.  The panel has set an arbitration hearing for August 5-8, 2014.  We anticipate that the arbitration will resolve: (1) whether Mylan materially breached the Distribution Agreement by failing to accept delivery of a conforming shipment of product in October 2012; (2) whether Mylan has materially breached the parties Distribution Agreement by failing to use commercially reasonable efforts to market and sell the product; and (3) whether the Distribution Agreement has been terminated because of the parties dispute over floor pricing.  We anticipate seeking damages and attorneys’ fees as part of the arbitration.
	On January 21, 2014, Mylan filed a new lawsuit against us with the District Court, as Case No. 2:14-cv-00119-GMS, asserting a claim for declaratory judgment and seeking a temporary restraining order and preliminary injunction relating to our notice of termination of the Distribution Agreement with respect to the parties’ failure to agree on floor pricing.  On January 24, 2014, Insys responded in opposition to the application for temporary restraining order and preliminary injunction, or Application.  A hearing was initially set for April 3, 2014.  After stipulation of the parties to postpone the hearing, the Court denied all pending motions as moot on April 2, 2014.  We intend to seek attorneys’ fees incurred in responding to Mylan’s lawsuit. The Application was dismissed by the Court with prejudice on June 2, 2014.
	Because of the remaining uncertainty as to the claims (if any) made by Mylan against us, as well as the uncertainty relating to the total damages incurred by us because of Mylan’s breaches, we are not able to predict the outcome of this dispute or make a reasonable estimate of possible losses.
	Federal Securities Litigation. Between May 15 and May 19, 2014, two complaints (captioned Larson v. Insys Therapeutics, Inc., Case No. 14-cv-01043-GMS) and (Li vs. Insys Therapeutics, Inc., Case No 14-cv-01077-DGC) were filed in the U.S. District Court for the District of Arizona (“Court”) against us and certain of our current officers. The complaints were brought as purported class actions, on behalf of purchasers of our common stock. In general, they allege that the defendants violated federal securities laws by making intentionally false and misleading statements regarding our business and operations, therefore artificially inflating the price of our common stock. The plaintiffs seek unspecified monetary damages and other relief. On July 14, 2014, several purported shareholders filed motions to consolidate the two cases, appoint a lead plaintiff, and appoint lead counsel. The Court has not yet ruled on these motions. In both cases, the parties stipulated to extending defendants’ deadline to respond to the complaint until after the Court consolidates the actions and appoints lead plaintiff and lead counsel. In the Li case, the Court instructed defendants to respond to the initial complaint by August 29th, 2014 or to propose a specific schedule for responding to the complaint.
	We plan to vigorously defend these claims. Because of the uncertainty and early stage of these matters, we are not able to predict the outcome of this dispute or make a reasonable estimate of possible liability.
	Government Proceedings
	Like other companies in the pharmaceutical industry, we are subject to extensive regulation by national, state and local government agencies in the United States. As a result, interaction with government agencies occurs in the normal course of our operations. Following is a brief description of a pending, potentially material, governmental investigation. It is possible that criminal charges and substantial fines and/or civil penalties or damages could result from any government investigation or proceeding.
	Department of Health and Human Services Investigation. We received a subpoena, dated December 9, 2013, from the Office of Inspector General of the Department of Health and Human Services, or HHS, in connection with an investigation of potential violations involving HHS programs. The subpoena was issued in connection with an investigation by the U.S. Attorney’s Office for the Central District of California. The subpoena requests documents regarding our business, including the commercialization of Subsys. We are cooperating with this investigation and have produced documents in response to the subpoena and have provided other requested information.

Note_8_StockBased_Compensation

Note 8 - Stock-Based Compensation	6 Months Ended
	Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	'
	8.       Stock-based Compensation
	Amounts recognized in the condensed consolidated statements of income and comprehensive income with respect to our stock-based compensation plans were as follows (in thousands):
		Three Months Ended June 30,					Six Months Ended June 30,
		2014			2013		2014		2013
	Research and development	$	3,535		$	342	$	3,862	$	627
	General and administrative		2,196			1,003		4,325		1,777
	Total cost of stock-based compensation	$	5,731		$	1,345	$	8,187	$	2,404
	As previously disclosed on a Form 8-K filed by us on April 1, 2014, we entered into a Separation and Consulting Agreement with a former officer. In accordance with the terms of the Separation and Consulting Agreement, during the three months ended June 30, 2014, we recorded $3,142,000 in stock-based compensation to research and development expense related to the acceleration of vesting of 167,461 shares subject to outstanding stock options granted to the former officer.
	As of June 30, 2014, we expected to recognize $26,843,000 of stock-based compensation for outstanding options over a weighted-average period of 3.1 years.
	The following table summarizes stock option activity as of December 31, 2013 (which reflects the aforementioned stock split) and for the six months ended June 30, 2014:
							Weighted
					Weighted		Average		Aggregate
					Average		Remaining		Intrinsic
		Number of			Exercise		Contractual		Value
		Shares			Price		Term (in years)		(in millions)
	Vested and exercisable as of December 31, 2013		1,810,653		$	2.8
	Outstanding as of December 31, 2013		4,496,667		$	5.79
	Granted		839,161		$	28.09
	Cancelled		(239,307	)	$	11.65
	Exercised		(1,100,502	)	$	2.94
	Outstanding as of June 30, 2014		3,996,019		$	10.91		8.53	$	83.6
	Vested and exercisable as of June 30, 2014		1,426,517		$	5.25		7.7	$	37.3
	Cash received from option exercises under all share-based payment arrangements for the six months ended June 30, 2014 and 2013 was $3,243,000 and $31,000, respectively. For the six months ended June 30, 2014, we recorded net reductions of $12,399,000 of our federal and state income tax liability, with an offsetting credit to additional paid-in capital, resulting from the excess tax benefits of stock options.

Note_9_Net_Income_Per_Share

Note 9 - Net Income Per Share	6 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
Earnings Per Share [Text Block]	'
	9.     Net Income per Share
	Basic net income per common share is computed by dividing the net income allocable to the common stockholders by the weighted average number of common shares outstanding during the period. The diluted income per share further includes any common shares available to be issued upon exercise of outstanding stock options if such inclusion would be dilutive.
	The net income per share for the six months ended June 30, 2013, including share and per share amounts, includes the effects of the conversion of convertible preferred stock into 12,793,290 shares of common stock (8,528,860 on a pre-split basis) as if the conversion had occurred at the beginning of the respective period.
	The following table sets forth the computation of basic and diluted net income per common share (dollars in thousands, except per share amounts):
		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2014		2013		2014		2013
	Historical net income per share - Basic
	Numerator:
	Net income	$	9,465	$	4,547	$	17,123	$	4,690
	Denominator:
	Weighted average number of common shares outstanding		34,298,326		24,972,357		33,932,371		19,524,843
	Basic net income per common share	$	0.28	$	0.18	$	0.5	$	0.24
	Historical net income per share - Diluted
	Numerator:
	Net income	$	9,465	$	4,547	$	17,123	$	4,690
	Denominator:
	Weighted average number of common shares outstanding		34,298,326		24,972,357		33,932,371		19,524,843
	Effect of dilutive stock options		2,038,251		1,085,745		2,615,451		1,058,063
	Weighted average number of common shares outstanding		36,336,577		26,058,102		36,547,822		20,582,906
	Diluted net income per common share	$	0.26	$	0.17	$	0.47	$	0.23
	Anti-dilutive share equivalents included 898,504 and 26,709 outstanding stock options as of June 30, 2014 and 2013, respectively.

Note_10_Product_Lines_Concentr

Note 10 - Product Lines, Concentration of Credit Risk and Significant Customers	6 Months Ended
	Jun. 30, 2014
Risks and Uncertainties [Abstract]	'
Concentration Risk Disclosure [Text Block]	'
	10.     Product Lines, Concentration of Credit Risk and Significant Customers
	We are engaged in the business of developing and selling pharmaceutical products. We have two product lines, consisting of Subsys and Dronabinol SG Capsule. Our chief operating decision-maker evaluates revenues based on product lines.
	The following tables summarize our net revenue by product line, as well as the percentages of revenue by route to market (in thousands):
		Net Revenue by Product Line
		Three Months Ended June 30,						Six Months Ended June 30,
		2014			2013			2014			2013
	Subsys	$	54,576		$	18,502		$	95,229		$	28,197
	Dronabinol SG Capsule	$	1,120			319			2,103			1,683
	Total net revenue	$	55,696		$	18,821		$	97,332		$	29,880
		Percent of Revenue by Route to Market
		Three Months Ended June 30,						Six Months Ended June 30,
		2014			2013			2014			2013
	Pharmaceutical wholesalers		98	%		98	%		98	%		94	%
	Generic pharmaceutical distributors		2	%		2	%		2	%		6	%
			100	%		100	%		100	%		100	%
	All our products are sold in the United States of America.
	Product shipments to four pharmaceutical wholesalers accounted for 38%, 17%, 15% and 12% of shipments for the six months ended June 30, 2014. Product shipments to four pharmaceutical wholesalers accounted for 24%, 20%, 19% and 19% of net revenue for the six months ended June 30, 2013. Four pharmaceutical wholesalers’ accounts receivable balances accounted for 28%, 24%, 19% and 16% of gross accounts receivable as of June 30, 2014. Four pharmaceutical wholesalers’ accounts receivable balances accounted for 40%, 21%, 17% and 14% of gross accounts receivable as of December 31, 2013.

Note_3_ShortTerm_and_LongTerm_1

Note 3 - Short-Term and Long-Term Investments (Tables)	6 Months Ended
	Jun. 30, 2014
Investments Schedule [Abstract]	'
Available-for-sale Securities [Table Text Block]	'
		30-Jun-14
		Cost		Unrealized			Unrealized			Other-		Fair		Cash and		Short-term			Long-term
				Gains			Losses			Than-		Value		Cash		Investments			Investments
										Temporary				Equivalents
										Impairment
										Losses
	Cash	$	22,068	$	-		$	-		$	-	$	22,068	$	22,068	$	-		$	-
	Money market funds		21,783		-			-			-		21,783		21,783		-			-
	Certificates of deposit		4,825		-			-			-		4,825		-		1,405			3,420
	Marketable securities:
	Corporate securities		9,087		-			(6	)		-		9,081		-		4,343			4,738
	Federal agency securities		10,019		3			(7	)		-		10,015		-		1,000			9,015
	Municipal securities		7,521		5			-			-		7,526		2,288		1,851			3,387
	Total marketable securities		26,627		8			(13	)		-		26,622		2,288		7,194			17,140
																		`
		$	75,303	$	8		$	(13	)	$	-	$	75,298	$	46,139	$	8,599		$	20,560
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]	'
		30-Jun-14
		Cost		Fair Value
	Marketable securities:
	Due in one year or less	$	8,599	$	8,599
	Due after one year through 5 years		20,565		20,560
	Due after 5 years through 10 years		-		-
	Due after 10 years		-		-
		$	29,164	$	29,159
Schedule of Unrealized Loss on Investments [Table Text Block]	'
		30-Jun-14
		Less Than 12 Months					Greater Than 12 Months
		Fair Value		Unrealized Loss			Fair Value			Unrealized Loss
	Marketable securities:
	Corporate securities	$	9,081	$	(6	)	$	-		$	-
	Federal agency securities		6,993		(7	)		-			-
	Municipal securities		-		-			-			-
		$	16,074	$	(13	)	$	-		$	-

Note_4_Fair_Value_Measurements1

Note 4 - Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	'
		Fair Value Measurement at Reporting Date
		June 30,		Quoted		Significant		Significant
		2014		Prices in		Other		Unobservable
				active		Observable		Inputs
				Markets		Inputs		(Level 3)
				(Level 1)		(Level 2)
	Marketable securities:
	Corporate securities	$	9,081	$	-	$	9,081	$	-
	Federal agency securities		10,015		-		10,015		-
	Municipal securities		7,526		-		7,526		-
	Total assets measured at fair value	$	26,622	$	-	$	26,622	$	-

Note_5_Inventories_Tables

Note 5 - Inventories (Tables)	6 Months Ended
	Jun. 30, 2014
Inventory Disclosure [Abstract]	'
Schedule of Inventory, Current [Table Text Block]	'
		June 30,		December 31,
		2014		2013
	Finished goods	$	15,505	$	8,084
	Work-in-process		4,795		3,886
	Raw materials and supplies		4,406		2,558
	Total inventories	$	24,706	$	14,528

Note_8_StockBased_Compensation1

Note 8 - Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	'
		Three Months Ended June 30,					Six Months Ended June 30,
		2014			2013		2014		2013
	Research and development	$	3,535		$	342	$	3,862	$	627
	General and administrative		2,196			1,003		4,325		1,777
	Total cost of stock-based compensation	$	5,731		$	1,345	$	8,187	$	2,404
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	'
							Weighted
					Weighted		Average		Aggregate
					Average		Remaining		Intrinsic
		Number of			Exercise		Contractual		Value
		Shares			Price		Term (in years)		(in millions)
	Vested and exercisable as of December 31, 2013		1,810,653		$	2.8
	Outstanding as of December 31, 2013		4,496,667		$	5.79
	Granted		839,161		$	28.09
	Cancelled		(239,307	)	$	11.65
	Exercised		(1,100,502	)	$	2.94
	Outstanding as of June 30, 2014		3,996,019		$	10.91		8.53	$	83.6
	Vested and exercisable as of June 30, 2014		1,426,517		$	5.25		7.7	$	37.3

Note_9_Net_Income_Per_Share_Ta

Note 9 - Net Income Per Share (Tables)	6 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	'
		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2014		2013		2014		2013
	Historical net income per share - Basic
	Numerator:
	Net income	$	9,465	$	4,547	$	17,123	$	4,690
	Denominator:
	Weighted average number of common shares outstanding		34,298,326		24,972,357		33,932,371		19,524,843
	Basic net income per common share	$	0.28	$	0.18	$	0.5	$	0.24
	Historical net income per share - Diluted
	Numerator:
	Net income	$	9,465	$	4,547	$	17,123	$	4,690
	Denominator:
	Weighted average number of common shares outstanding		34,298,326		24,972,357		33,932,371		19,524,843
	Effect of dilutive stock options		2,038,251		1,085,745		2,615,451		1,058,063
	Weighted average number of common shares outstanding		36,336,577		26,058,102		36,547,822		20,582,906
	Diluted net income per common share	$	0.26	$	0.17	$	0.47	$	0.23

Note_10_Product_Lines_Concentr1

Note 10 - Product Lines, Concentration of Credit Risk and Significant Customers (Tables)	6 Months Ended
	Jun. 30, 2014
Risks and Uncertainties [Abstract]	'
Revenue from External Customers by Products and Services [Table Text Block]	'
		Net Revenue by Product Line
		Three Months Ended June 30,						Six Months Ended June 30,
		2014			2013			2014			2013
	Subsys	$	54,576		$	18,502		$	95,229		$	28,197
	Dronabinol SG Capsule	$	1,120			319			2,103			1,683
	Total net revenue	$	55,696		$	18,821		$	97,332		$	29,880
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block]	'
		Percent of Revenue by Route to Market
		Three Months Ended June 30,						Six Months Ended June 30,
		2014			2013			2014			2013
	Pharmaceutical wholesalers		98	%		98	%		98	%		94	%
	Generic pharmaceutical distributors		2	%		2	%		2	%		6	%
			100	%		100	%		100	%		100	%

Note_1_Nature_of_Business_and_1

Note 1 - Nature of Business and Basis of Presentation (Details) (USD $)	1 Months Ended
	Feb. 26, 2014	Jun. 30, 2014	6-May-14	5-May-14	Dec. 31, 2013
Note 1 - Nature of Business and Basis of Presentation (Details) [Line Items]	'	'	'	'	'
Stock Issued During Period, Per Share, Stock Split	1	'	'	'	'
Common Stock, Par or Stated Value Per Share (in Dollars per share)	'	$0.01	$0.01	'	$0.01
Common Stock, Shares Authorized	'	100,000,000	100,000,000	50,000,000	50,000,000
Conversion Ratio Numerator [Member]	'	'	'	'	'
Note 1 - Nature of Business and Basis of Presentation (Details) [Line Items]	'	'	'	'	'
Stockholders' Equity Note, Stock Split, Conversion Ratio	3	'	'	'	'
Converstion Ratio Denominator [Member]	'	'	'	'	'
Note 1 - Nature of Business and Basis of Presentation (Details) [Line Items]	'	'	'	'	'
Stockholders' Equity Note, Stock Split, Conversion Ratio	2	'	'	'	'
Pre-Split Basis [Member]	'	'	'	'	'
Note 1 - Nature of Business and Basis of Presentation (Details) [Line Items]	'	'	'	'	'
Common Stock, Par or Stated Value Per Share (in Dollars per share)	0.0002145	'	'	'	'

Note_2_Revenue_Recognition_Det

Note 2 - Revenue Recognition (Details)	6 Months Ended
	Jun. 30, 2014
Subsys [Member]	'
Note 2 - Revenue Recognition (Details) [Line Items]	'
Shelf Life Of Product From Date Of Manufacture	'36 months
Mylan Pharmaceuticals Inc [Member]	'
Note 2 - Revenue Recognition (Details) [Line Items]	'
Cash Discount Percent	2.00%
Minimum [Member] | Mylan Pharmaceuticals Inc [Member]	'
Note 2 - Revenue Recognition (Details) [Line Items]	'
Royalty Obligation As Percentage Of Net Sales	10.00%
Maximum [Member] | Mylan Pharmaceuticals Inc [Member]	'
Note 2 - Revenue Recognition (Details) [Line Items]	'
Royalty Obligation As Percentage Of Net Sales	20.00%

Note_3_ShortTerm_and_LongTerm_2

Note 3 - Short-Term and Long-Term Investments (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Note 3 - Short-Term and Long-Term Investments (Details) [Line Items]	'	'
Short-term Investments	$8,599,000	'
Long-term Investments	20,560,000	'
Marketable Securities	'	0
Available-for-sale Securities [Member]	'	'
Note 3 - Short-Term and Long-Term Investments (Details) [Line Items]	'	'
Short-term Investments	8,599,000	'
Long-term Investments	$20,560,000	'

Note_3_ShortTerm_and_LongTerm_3

Note 3 - Short-Term and Long-Term Investments (Details) - Summary of Investments (USD $)	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2013	Dec. 31, 2012
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'
Cost	$75,303,000	'	'	'
Unrealized Losses	-13,000	'	'	'
Fair Value	75,298,000	'	'	'
Cash and Cash Equivalents	46,139,000	45,382,000	21,746,000	361,000
Short-term Investments	8,599,000	'	'	'
Long-term Investments	20,560,000	'	'	'
Unrealized Gains	8,000	'	'	'
Cash [Member]	'	'	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'
Cost	22,068,000	'	'	'
Fair Value	22,068,000	'	'	'
Cash and Cash Equivalents	22,068,000	'	'	'
Money Market Funds [Member]	'	'	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'
Cost	21,783,000	'	'	'
Fair Value	21,783,000	'	'	'
Cash and Cash Equivalents	21,783,000	'	'	'
Certificates of Deposit [Member]	'	'	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'
Cost	4,825,000	'	'	'
Fair Value	4,825,000	'	'	'
Short-term Investments	1,405,000	'	'	'
Long-term Investments	3,420,000	'	'	'
Corporate Debt Securities [Member]	'	'	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'
Cost	9,087,000	'	'	'
Unrealized Losses	-6,000	'	'	'
Fair Value	9,081,000	'	'	'
Short-term Investments	4,343,000	'	'	'
Long-term Investments	4,738,000	'	'	'
US Government Agencies Debt Securities [Member]	'	'	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'
Cost	10,019,000	'	'	'
Unrealized Losses	-7,000	'	'	'
Fair Value	10,015,000	'	'	'
Short-term Investments	1,000,000	'	'	'
Long-term Investments	9,015,000	'	'	'
Unrealized Gains	3,000	'	'	'
Municipal Bonds [Member]	'	'	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'
Cost	7,521,000	'	'	'
Fair Value	7,526,000	'	'	'
Cash and Cash Equivalents	2,288,000	'	'	'
Short-term Investments	1,851,000	'	'	'
Long-term Investments	3,387,000	'	'	'
Unrealized Gains	5,000	'	'	'
Marketable Securities [Member]	'	'	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'
Cost	26,627,000	'	'	'
Unrealized Losses	-13,000	'	'	'
Fair Value	26,622,000	'	'	'
Cash and Cash Equivalents	2,288,000	'	'	'
Short-term Investments	7,194,000	'	'	'
Long-term Investments	17,140,000	'	'	'
Unrealized Gains	$8,000	'	'	'

Note_3_ShortTerm_and_LongTerm_4

Note 3 - Short-Term and Long-Term Investments (Details) - Amortized Cost and Estimated Fair Value of Securities (USD $)	Jun. 30, 2014
In Thousands, unless otherwise specified
Marketable securities:	'
Due in one year or less	$8,599
Due in one year or less	8,599
Due after one year through 5 years	20,565
Due after one year through 5 years	20,560
	29,164
	$29,159

Note_3_ShortTerm_and_LongTerm_5

Note 3 - Short-Term and Long-Term Investments (Details) - Gross Unrealized Losses (USD $)	Jun. 30, 2014
In Thousands, unless otherwise specified
Note 3 - Short-Term and Long-Term Investments (Details) - Gross Unrealized Losses [Line Items]	'
Fair Value	$16,074
Unrealized Loss	-13
Corporate Debt Securities [Member]	'
Note 3 - Short-Term and Long-Term Investments (Details) - Gross Unrealized Losses [Line Items]	'
Fair Value	9,081
Unrealized Loss	-6
US Government Agencies Debt Securities [Member]	'
Note 3 - Short-Term and Long-Term Investments (Details) - Gross Unrealized Losses [Line Items]	'
Fair Value	6,993
Unrealized Loss	($7)

Note_4_Fair_Value_Measurements2

Note 4 - Fair Value Measurements (Details) (USD $)	Dec. 31, 2013
Fair Value Disclosures [Abstract]	'
Marketable Securities	$0

Note_4_Fair_Value_Measurements3

Note 4 - Fair Value Measurements (Details) - Investments Measured at Fair Value on a Recurring Basis (Fair Value, Measurements, Recurring [Member], USD $)	Jun. 30, 2014
In Thousands, unless otherwise specified
Note 4 - Fair Value Measurements (Details) - Investments Measured at Fair Value on a Recurring Basis [Line Items]	'
Available-for-sale securities	$26,622
Fair Value, Inputs, Level 2 [Member]	'
Note 4 - Fair Value Measurements (Details) - Investments Measured at Fair Value on a Recurring Basis [Line Items]	'
Available-for-sale securities	26,622
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]	'
Note 4 - Fair Value Measurements (Details) - Investments Measured at Fair Value on a Recurring Basis [Line Items]	'
Available-for-sale securities	9,081
Corporate Debt Securities [Member]	'
Note 4 - Fair Value Measurements (Details) - Investments Measured at Fair Value on a Recurring Basis [Line Items]	'
Available-for-sale securities	9,081
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]	'
Note 4 - Fair Value Measurements (Details) - Investments Measured at Fair Value on a Recurring Basis [Line Items]	'
Available-for-sale securities	10,015
US Government Agencies Debt Securities [Member]	'
Note 4 - Fair Value Measurements (Details) - Investments Measured at Fair Value on a Recurring Basis [Line Items]	'
Available-for-sale securities	10,015
Municipal Bonds [Member] | Fair Value, Inputs, Level 2 [Member]	'
Note 4 - Fair Value Measurements (Details) - Investments Measured at Fair Value on a Recurring Basis [Line Items]	'
Available-for-sale securities	7,526
Municipal Bonds [Member]	'
Note 4 - Fair Value Measurements (Details) - Investments Measured at Fair Value on a Recurring Basis [Line Items]	'
Available-for-sale securities	$7,526

Note_5_Inventories_Details_Com

Note 5 - Inventories (Details) - Components of Inventories (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Components of Inventories [Abstract]	'	'
Finished goods	$15,505	$8,084
Work-in-process	4,795	3,886
Raw materials and supplies	4,406	2,558
Total inventories	$24,706	$14,528

Note_6_Line_of_Credit_Details

Note 6 - Line of Credit (Details) (New Facility [Member], Revolving Credit Facility [Member], JPMorgan Chase Bank, N.A. [Member], USD $)	1 Months Ended	3 Months Ended
	Oct. 31, 2013	Dec. 31, 2013	Jun. 30, 2014
Note 6 - Line of Credit (Details) [Line Items]	'	'	'
Line of Credit Facility, Maximum Borrowing Capacity	$15,000,000	'	'
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.35%	'	'
Line of Credit Facility, Advances, Borrowing Base, Percent	80.00%	'	'
Long-term Line of Credit	'	0	0
Line of Credit Facility, Remaining Borrowing Capacity	'	12,200,000	15,000,000
Line of Credit Facility, Covenant, Minimum Net Income	'	1	'
Letter of Credit [Member]	'	'	'
Note 6 - Line of Credit (Details) [Line Items]	'	'	'
Line of Credit Facility, Maximum Borrowing Capacity	$500,000	'	'
London Interbank Offered Rate (LIBOR) [Member]	'	'	'
Note 6 - Line of Credit (Details) [Line Items]	'	'	'
Debt Instrument, Basis Spread on Variable Rate	1.50%	'	'

Note_8_StockBased_Compensation2

Note 8 - Stock-Based Compensation (Details) (USD $)	6 Months Ended		3 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2014
			Research and Development Expense [Member]	Employee Stock Option [Member]
			Employee Stock Option [Member]	Former Officer [Member]
			Former Officer [Member]
Note 8 - Stock-Based Compensation (Details) [Line Items]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award Accelerated Compensation Cost	'	'	$3,142,000	'
Share-based Compensation Arrangement by Share-based Payment Award, Accelerated Vesting, Number (in Shares)	'	'	'	167,461
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	26,843,000	'	'	'
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	'3 years 36 days	'	'	'
Proceeds from Stock Options Exercised	3,243,000	31,000	'	'
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense	$12,399,000	'	'	'

Note_8_StockBased_Compensation3

Note 8 - Stock-Based Compensation (Details) - Stock-Based Compensation Expense (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]	'	'	'	'
Stock-based compensation	$5,731	$1,345	$8,187	$2,404
Research and Development Expense [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]	'	'	'	'
Stock-based compensation	3,535	342	3,862	627
General and Administrative Expense [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]	'	'	'	'
Stock-based compensation	$2,196	$1,003	$4,325	$1,777

Note_8_StockBased_Compensation4

Note 8 - Stock-Based Compensation (Details) - Stock Option Activity (USD $)	6 Months Ended
In Millions, except Share data, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Stock Option Activity [Abstract]	'	'
Vested and exercisable as of	1,426,517	1,810,653
Vested and exercisable as of	$5.25	$2.80
Vested and exercisable as of	'7 years 255 days	'
Vested and exercisable as of	$37.30	'
Outstanding as of	3,996,019	4,496,667
Outstanding as of	$10.91	$5.79
Outstanding as of	'8 years 193 days	'
Outstanding as of	$83.60	'
Granted	839,161	'
Granted	$28.09	'
Cancelled	-239,307	'
Cancelled	$11.65	'
Exercised	-1,100,502	'
Exercised	$2.94	'

Note_9_Net_Income_Per_Share_De

Note 9 - Net Income Per Share (Details)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Note 9 - Net Income Per Share (Details) [Line Items]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	898,504	26,709
Convertible Preferred Stock [Member] | Pre-Split Basis [Member]	'	'
Note 9 - Net Income Per Share (Details) [Line Items]	'	'
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities	'	8,528,860
Convertible Preferred Stock [Member]	'	'
Note 9 - Net Income Per Share (Details) [Line Items]	'	'
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities	'	12,793,290

Note_9_Net_Income_Per_Share_De1

Note 9 - Net Income Per Share (Details) - Computation of Basic and Diluted Net Income (Loss) per Common Share (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Historical net income per share - Basic	'	'	'	'
Net income (in Dollars)	$9,465	$4,547	$17,123	$4,690
Weighted average number of common shares outstanding	34,298,326	24,972,357	33,932,371	19,524,843
Basic net income per common share (in Dollars per share)	$0.28	$0.18	$0.50	$0.24
Historical net income per share - Diluted	'	'	'	'
Net income (in Dollars)	$9,465	$4,547	$17,123	$4,690
Weighted average number of common shares outstanding	34,298,326	24,972,357	33,932,371	19,524,843
Effect of dilutive stock options	2,038,251	1,085,745	2,615,451	1,058,063
Weighted average number of common shares outstanding	36,336,577	26,058,102	36,547,822	20,582,906
Diluted net income per common share (in Dollars per share)	$0.26	$0.17	$0.47	$0.23

Note_10_Product_Lines_Concentr2

Note 10 - Product Lines, Concentration of Credit Risk and Significant Customers (Details)

6 Months Ended

12 Months Ended

6 Months Ended

12 Months Ended

6 Months Ended

12 Months Ended

6 Months Ended

12 Months Ended

6 Months Ended

12 Months Ended

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Dec. 31, 2013

Customer One [Member]

Customer One [Member]

Customer One [Member]

Customer One [Member]

Customer Two [Member]

Customer Two [Member]

Customer Two [Member]

Customer Two [Member]

Customer Three [Member]

Customer Three [Member]

Customer Three [Member]

Customer Three [Member]

Customer Four [Member]

Customer Four [Member]

Customer Four [Member]

Customer Four [Member]

Product Shipments [Member]

Product Shipments [Member]

Accounts Receivable [Member]

Accounts Receivable [Member]

Product Shipments [Member]

Product Shipments [Member]

Accounts Receivable [Member]

Accounts Receivable [Member]

Product Shipments [Member]

Product Shipments [Member]

Accounts Receivable [Member]

Accounts Receivable [Member]

Product Shipments [Member]

Product Shipments [Member]

Accounts Receivable [Member]

Accounts Receivable [Member]

Product Shipments [Member]

Product Shipments [Member]

Accounts Receivable [Member]

Accounts Receivable [Member]

Pharmaceutical Wholesalers [Member]

Pharmaceutical Wholesalers [Member]

Pharmaceutical Wholesalers [Member]

Pharmaceutical Wholesalers [Member]

Pharmaceutical Wholesalers [Member]

Pharmaceutical Wholesalers [Member]

Pharmaceutical Wholesalers [Member]

Pharmaceutical Wholesalers [Member]

Pharmaceutical Wholesalers [Member]

Pharmaceutical Wholesalers [Member]

Pharmaceutical Wholesalers [Member]

Pharmaceutical Wholesalers [Member]

Pharmaceutical Wholesalers [Member]

Pharmaceutical Wholesalers [Member]

Pharmaceutical Wholesalers [Member]

Pharmaceutical Wholesalers [Member]

Pharmaceutical Wholesalers [Member]

Pharmaceutical Wholesalers [Member]

Pharmaceutical Wholesalers [Member]

Pharmaceutical Wholesalers [Member]

Note 10 - Product Lines, Concentration of Credit Risk and Significant Customers (Details) [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number Of Product Lines

2

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Concentration Risk, Customer

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'four

'four

'Four

'Four

Concentration Risk, Percentage

'

38.00%

24.00%

40.00%

28.00%

17.00%

20.00%

24.00%

21.00%

15.00%

19.00%

19.00%

17.00%

12.00%

19.00%

16.00%

14.00%

'

'

'

'

Note_10_Product_Lines_Concentr3

Note 10 - Product Lines, Concentration of Credit Risk and Significant Customers (Details) - Summary of Net Revenue by Product Line and Percentages (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Revenue from External Customer [Line Items]	'	'	'	'
Net revenue	$55,696	$18,821	$97,332	$29,880
Subsys [Member]	'	'	'	'
Revenue from External Customer [Line Items]	'	'	'	'
Net revenue	54,576	18,502	95,229	28,197
Dronabinol Sg Capsule [Member]	'	'	'	'
Revenue from External Customer [Line Items]	'	'	'	'
Net revenue	$1,120	$319	$2,103	$1,683

Note_10_Product_Lines_Concentr4

Note 10 - Product Lines, Concentration of Credit Risk and Significant Customers (Details) - Percentage of Revenue by Route to Market (Sales Revenue, Product Line [Member], Product Concentration Risk [Member])	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Revenue, Major Customer [Line Items]	'	'	'	'
Percent of Revenue	100.00%	100.00%	100.00%	100.00%
Pharmaceutical Wholesalers [Member]	'	'	'	'
Revenue, Major Customer [Line Items]	'	'	'	'
Percent of Revenue	98.00%	98.00%	98.00%	94.00%
Generic Pharmaceutical Distributor [Member]	'	'	'	'
Revenue, Major Customer [Line Items]	'	'	'	'
Percent of Revenue	2.00%	2.00%	2.00%	6.00%