Teligent (TLGTQ) 10-Q 9 Nov 15 2015 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 02, 2015
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Entity Registrant Name	Teligent, Inc.
Entity Central Index Key	352,998
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Trading Symbol	TLGT
Entity Common Stock, Shares Outstanding		52,872,953

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues:
Product sales, net	$ 11,375	$ 6,005	$ 30,532	$ 18,525
Research and development income	237	635	475	1,385
Licensing, royalty and other revenue	3	28	172	95
Total revenues	11,615	6,668	31,179	20,005
Costs and Expenses:
Cost of revenues	5,538	4,036	15,808	11,603
Selling, general and administrative expenses	2,433	1,124	6,474	3,563
Product development and research expenses	3,253	1,652	9,319	5,045
Total costs and expenses	11,224	6,812	31,601	20,211
Operating income (loss)	391	(144)	(422)	(206)
Other Income (Expense):
Change in the fair value of derivative liability	0	0	23,144	0
Interest and other expense, net	(3,279)	(58)	(9,679)	(162)
Income (loss) before income tax expense	(2,888)	(202)	13,043	(368)
Income tax expense	0	0	0	12
Net income (loss)	$ (2,888)	$ (202)	$ 13,043	$ (380)
Basic earnings (loss) per share	$ (0.05)	$ 0	$ 0.25	$ (0.01)
Diluted earnings (loss) per share	$ (0.05)	$ 0	$ (0.02)	$ (0.01)
Weighted average shares of common stock outstanding:
Basic (in shares)	52,869,529	52,457,938	52,857,624	48,811,328
Diluted (in shares)	52,869,529	52,457,938	67,173,250	48,811,328

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 145,699	$ 158,883
Accounts receivable, net	10,947	14,366
Inventories	4,958	2,784
Prepaid expenses and other receivables	1,348	1,185
Total current assets	162,952	177,218
Property, plant and equipment, net	7,117	3,262
Product acquisition costs, net	12,031	10,604
Debt issuance costs, net	4,575	5,132
Other	479	862
Total assets	187,154	197,078
Current liabilities:
Accounts payable	3,013	1,643
Accrued expenses	5,817	5,141
Payable for product acquisition costs	0	6,000
Other current liabilities	336	218
Total current liabilities	9,166	13,002
Convertible 3.75% senior notes, net of debt discount (face of $143,750)	105,239	100,311
Fair value of derivative liability - convertible 3.75% senior notes	0	41,400
Note payable, bank	0	3,160
Other long term liabilities	200	71
Total liabilities	114,605	157,944
Stockholders’ equity:
Common stock, $0.01 par value, 100,000,000 and 60,000,000 shares authorized; 52,872,953 and 52,819,787 shares issued and outstanding as of September 30, 2015 and December 31, 2014, respectively	548	548
Additional paid-in capital	98,544	78,172
Accumulated deficit	(26,543)	(39,586)
Total stockholders' equity	72,549	39,134
Total liabilities and stockholders' equity	187,154	197,078
Series A Preferred Stock [Member]
Stockholders’ equity:
Convertible Preferred stock	0	0
Series C Preferred Stock [Member]
Stockholders’ equity:
Convertible Preferred stock	$ 0	$ 0

CONDENSED CONSOLIDATED BALANCE4

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Common stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	60,000,000
Common stock, shares issued	52,872,953	52,819,787
Common stock, shares outstanding	52,872,953	52,819,787
Convertible Notes Payable [Member]
Debt Instrument, Interest Rate, Stated Percentage	3.75%	3.75%
Debt Instrument, Face Amount	$ 143,750	$ 143,750
Series A Preferred Stock [Member]
Preferred Stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	100	100
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Series C Preferred Stock [Member]
Preferred Stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	1,550	1,550
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net income (loss)	$ 13,043	$ (380)
Reconciliation of net income (loss) to net cash used in operating activities
Depreciation and amortization of fixed assets	379	292
Amortization of license fee	75	75
Stock based compensation	1,708	649
Amortization of debt issuance costs	584	24
Amortization of product acquisition costs	90	90
Provision for write down of inventory	50	114
Amortization of debt discount on convertible 3.75% senior notes	4,928	0
Change in the fair value of derivative liability	(23,144)	0
Changes in operating assets and liabilities
Accounts receivable	3,419	(1,422)
Inventories	(2,224)	(463)
Prepaid expenses and other assets	145	(336)
Accounts payable and accrued expenses	2,673	1,064
Deferred income	95	(737)
Net cash provided by (used in) operating activities	1,821	(1,030)
Cash flows from investing activities:
Product acquisition costs	(7,517)	(2,459)
Capital expenditures	(4,234)	(618)
Net cash used in investing activities	(11,751)	(3,077)
Cash flows from financing activities:
Principal payments on note payable, bank	(3,160)	(146)
Proceeds from issuance of stock, net	0	24,866
Proceeds from exercise of common stock options and warrants	31	565
Principal payments on capital lease obligations	(98)	(31)
Debt issuance costs	(27)	0
Net cash (used in) provided by financing activities	(3,254)	25,254
Net (decrease) increase in cash and cash equivalents	(13,184)	21,147
Cash and cash equivalents at beginning of period	158,883	2,101
Cash and cash equivalents at end of period	145,699	23,248
Supplemental Cash flow information:
Cash payments for interest	2,813	139
Cash payments for income taxes	120	23
Non cash investing and financing transactions:
Payable related to product acquisition costs	0	6,000
Reclassification of derivative liability to equity	18,256	0
Restricted Stock [Member]
Non cash investing and financing transactions:
Issuance of stock	347	0
Consultant [Member]
Non cash investing and financing transactions:
Issuance of stock	$ 30	$ 0

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical)	Sep. 30, 2015	Dec. 31, 2014
Senior Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage	3.75%	3.75%

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - 9 months ended Sep. 30, 2015 - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]
Balance at Dec. 31, 2014	$ 39,134	$ 548	$ 78,172	$ (39,586)
Balance (in Shares) at Dec. 31, 2014		52,819,787
Stock based compensation expense	1,708		1,708
Stock options exercised	$ 31		31
Stock options exercised (in Shares)	15,666	15,666
Issuance of restricted stock	$ 347		347
Issuance of restricted stock (in shares)		32,500
Issuance of stock to consultant	30		30
Issuance of stock to consultant (shares)		5,000
Reclassification of derivative liability to equity	18,256		18,256
Net income	13,043	$ 0	0	13,043
Balance at Sep. 30, 2015	$ 72,549	$ 548	$ 98,544	$ (26,543)
Balance (in Shares) at Sep. 30, 2015		52,872,953

Organization and Business

Organization and Business	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations [Text Block]	1. Organization and Business Teligent, Inc. (“the Company”) is a Delaware corporation incorporated in 1977. On October 22, 2015, the Company announced that it will change its name from IGI Laboratories, Inc. to Teligent, Inc. effective as of October 23, 2015, at 5:00 P.M. Eastern Daylight Time. The Company’s office, research and development facilities and manufacturing facilities are located at 105 Lincoln Avenue, Buena, New Jersey. The Company is a specialty generic pharmaceutical company. The Company’s mission is to become a leader in the specialty generic pharmaceutical market. Under its own label, the Company currently sells generic topical and injectable pharmaceutical products that are bioequivalent to their brand name counterparts. The Company also provides development, formulation and manufacturing services to the pharmaceutical, over-the-counter (“OTC”) and cosmetic markets.

Liquidity

Liquidity	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	2. Liquidity The Company’s principal sources of liquidity are cash and cash equivalents of approximately $145.7 million at September 30, 2015, the $10 million available under the $10 million credit facility detailed below and cash from operations. On August 3, 2015, the Company paid the additional aggregate of $6 million, that was payable at the time of the Company’s first filling with the United States Food and Drug Administration (the “FDA”) related to any asset purchased from AstraZeneca Pharmaceuticals LP (see Note 14). On October 5, 2015, the Company, together with Teligent Jersey Limited, a wholly-owned subsidiary of the Company, entered into an Asset Purchase Agreement and certain other ancillary agreements with Concordia Pharmaceuticals Inc., S.à.r.l., Barbados Branch, to acquire all rights, title and interests of the Seller in the existing inventory and certain contracts associated with three currently marketed injectable pharmaceutical products (Fortaz®, Zinacef TM The Company may require additional funding and this funding would depend, in part, on the timing and structure of potential business arrangements. If necessary, the Company may continue to seek to raise additional capital through the sale of its equity or through a strategic alliance with a third party. There may also be additional acquisition and growth opportunities that may require external financing. There can be no assurance that such financing will be available on terms acceptable to the Company, or at all. The Company also has the ability to defer certain product development and other programs, if necessary. The Company believes that our existing capital resources will be sufficient to support its current business plan and operations beyond November 2016.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	Summary of Significant Accounting Policies The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include valuation of the derivative liability, sales returns and allowances (“SRA”), allowances for excess and obsolete inventories, allowances for doubtful accounts, provisions for income taxes and related deferred tax asset valuation allowances, stock based compensation and accruals for environmental cleanup and remediation costs. The carrying amounts of cash and cash equivalents, trade receivables, restricted cash, notes payable, accounts payable, capital leases and other accrued liabilities at September 30, 2015 approximate their fair value for all periods presented. The Company measures fair value in accordance with ASC 820-10, “Fair Value Measurements and Disclosures”. ASC 820-10 clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. As a basis for considering such assumptions, ASC 820-10 establishes a three-tier value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value: Level 1 Inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date. Level 2 Inputs: Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability. Level 3 Inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at measurement date. The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The Company measured its derivative liability at fair value. The derivative convertible option related to Notes (as defined in Note 6) issued December 16, 2014 was valued using the “with” and “without” analysis. A “with” and “without” analysis is a standard valuation technique for valuing embedded derivatives by first considering the value of the Notes with the option and then considering the value of the Notes without the option. The difference is the fair value of the embedded derivatives. The embedded derivative was classified within Level 3 because it was valued using the “with” and “without” method, which does utilize inputs that are unobservable in the market. On May 20, 2015, the Company received approval to increase its authorized shares sufficient to allow for the conversion of the embedded option into equity at the annual shareholders meeting. Therefore, the derivative liability of $ 18.3 105.2 143.75 0 23.1 Basic earnings (loss) per share of common stock is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted earnings (loss) per share of common stock is computed using the weighted average number of shares of common stock and potential dilutive common stock equivalents outstanding during the period. (in thousands except shares and per share data) Three months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 Basic earnings per share computation: Net income (loss) - basic $ (2,888) $ (202) $ 13,043 $ (380) Weighted average common shares - basic 52,869,529 52,457,938 52,857,624 48,811,328 Basic earnings (loss) per share $ (0.05) $ (0.00) $ 0.25 $ (0.01) Dilutive earnings per share computation: Net income (loss) - basic $ (2,888) $ (202) $ 13,043 $ (380) Interest expense related to convertible 3.75% senior notes - - 4,043 - Amortization of discount related to convertible 3.75% senior notes - - 4,928 - Change in the fair value of derivative - - (23,144) - Net loss - diluted $ (2,888) $ (202) $ (1,130) $ (380) Share Computation: Weighted average common shares - basic 52,869,529 52,457,938 52,857,624 48,811,328 Effect of convertible 3.75% senior notes - - 12,732,168 - Effect of dilutive stock options and warrants - - 1,583,458 - Weighted average common shares outstanding - dilluted 52,869,529 52,457,938 67,173,250 48,811,328 Diluted loss per share $ (0.05) $ (0.00) $ (0.02) $ (0.01) The Company considers revenue realized or realizable and earned when it has persuasive evidence of an arrangement, delivery has occurred or contractual services rendered, the sales price is fixed or determinable, and collection is reasonably assured in conformity with ASC 605, “Revenue Recognition” The Company derives its revenues from three basic types of transactions: sales of its own generic pharmaceutical topical products, sales of manufactured product for its customers included in product sales, and research and product development services performed for third parties. Due to differences in the substance of these transaction types, the transactions require, and the Company utilizes, different revenue recognition policies for each. Product Sales: Product Sales includes Company Product Sales and Contract Manufacturing Sales. Company Product Sales : The Company records revenue from Company product sales when title and risk of ownership have been transferred to the customer, which is typically upon delivery of products to the customer. Revenue and Provision for Sales Returns and Allowances As is customary in the pharmaceutical industry, the Company’s gross product sales from Company label products are subject to a variety of deductions in arriving at reported net product sales. When the Company recognizes revenue from the sale of products, an estimate of SRA is recorded, which reduces product sales. Accounts receivable and/or accrued expenses are also reduced and/or increased by the SRA amount. These adjustments include estimates for chargebacks, rebates, cash discounts and returns and other allowances. These provisions are estimates based on historical payment experience, historical relationship to revenues, estimated customer inventory levels and current contract sales terms with direct and indirect customers. The estimation process used to determine our SRA provision has been applied on a consistent basis and no material adjustments have been necessary to increase or decrease our reserves for SRA as a result of a significant change in underlying estimates. The Company will use a variety of methods to assess the adequacy of our SRA reserves to ensure that our financial statements are fairly stated. These will include periodic reviews of customer inventory data, customer contract programs, subsequent actual payment experience, and product pricing trends to analyze and validate the SRA reserves. The provision for chargebacks is our most significant sales allowance. A chargeback represents an amount payable in the future to a wholesaler for the difference between the invoice price paid to the Company by our wholesale customer for a particular product and the negotiated contract price that the wholesaler’s customer pays for that product. The Company’s chargeback provision and related reserve varies with changes in product mix, changes in customer pricing and changes to estimated wholesaler inventories. The provision for chargebacks also takes into account an estimate of the expected wholesaler sell-through levels to indirect customers at contract prices. The Company will validate the chargeback accrual quarterly through a review of the inventory reports obtained from our largest wholesale customers. This customer inventory information is used to verify the estimated liability for future chargeback claims based on historical chargeback and contract rates. These large wholesalers represent 90 95 Gross-To-Net Sales Deductions (in thousands) Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Gross Company product sales $ 23,167 $ 14,823 $ 73,347 $ 25,618 Reduction to gross product sales: Chargebacks and billbacks 9,072 10,365 37,160 13,832 Sales discounts and other allowances 5,381 1,445 12,703 2,446 Total reduction to gross product sales 14,453 11,810 49,863 16,278 Company product sales, net $ 8,714 $ 3,013 $ 23,484 $ 9,340 Net Company product sales of $ 8.7 3.0 23.5 9.3 11.1 4.2 1.3 0.8 1.4 0.8 4.7 1.5 40 1.0 0.7 1.2 0.7 2.8 2.9 Contract Manufacturing Sales : The Company recognizes revenue when title transfers to its customers, which is generally upon shipment of products. These shipments are made in accordance with sales commitments and related sales orders entered into with customers either verbally or in written form. The revenues associated with these transactions, net of appropriate cash discounts, product returns and sales reserves, are recorded upon shipment of the products and are included in product sales, net on the Company’s Condensed Consolidated Statement of Operations. Research and Development Income : The Company establishes agreed upon product development agreements with its customers to perform product development services. Product development revenues are recognized in accordance with the product development agreement upon the completion of the phases of development and when the Company has no future performance obligations relating to that phase of development. Revenue recognition requires the Company to assess progress against contracted obligations to assure completion of each stage. These payments are generally non-refundable and are reported as deferred until they are recognizable as revenue. If no such arrangement exists, product development fees are recognized ratably over the entire period during which the services are performed. In making such assessments, judgments are required to evaluate contingencies such as potential variances in schedule and the costs, the impact of change orders, liability claims, contract disputes and achievement of contractual performance standards. Changes in total estimated contract cost and losses, if any, are recognized in the period they are determined. Billings on research and development contracts are typically based upon terms agreed upon by the Company and customer and are stated in the contracts themselves and do not always align with the revenues recognized by the Company. Major customers of the Company are defined as having revenue greater than 10 47 for 59 58 53 evenue, respectively. Two of these customers are the same for both periods. Accounts receivable related to the Company’s major customers comprised 80 evenues and harm our business and results of operations. The Company had net revenue from one product, econazole nitrate cream, which accounted for 52 24 52 21 The Company accounts for its derivative instruments in accordance with ASC 815-10, “Derivatives and Hedging”. ASC 815-10 establishes accounting and reporting standards requiring that derivative instruments, including derivative instruments embedded in other contracts, be recorded on the balance sheet as either an asset or liability measured at its fair value. ASC 815-10 also requires that changes in the fair value of derivative instruments be recognized currently in results of operations unless specific hedge accounting criteria are met. The Company has not entered into hedging activities to date. The Company's derivative liability was the embedded convertible option of its Notes issued December 16, 2014 (see Note 6), which has been recorded as a liability at fair value and was revalued at each reporting date, with changes in the fair value of the instruments included in the consolidated statements of operations as non-operating income (expense). Due to the approval of the sufficient shares at the Company’s annual shareholder meeting, the liability for the embedded derivative was reclassified to equity on May 20, 2015. The Company has no derivatives at September 30, 2015. In May 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2014-09, “Revenue from Contracts with Customers”. This ASU is a comprehensive new revenue recognition model that requires a company to recognize revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. This ASU is effective for annual reporting periods beginning after December 15, 2017 and early adoption is not permitted. Accordingly, the Company will adopt this ASU on January 1, 2018. Companies may use either a full retrospective or modified retrospective approach to adopt this ASU and management is currently evaluating which transition approach to use. The Company is currently evaluating the impact of ASU 2014-09. In August 2014, the FASB issued ASU 2014-15, “Presentation of Financial Statements — Going Concern: Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern”. This ASU requires management to evaluate, in connection with preparing financial statements for each annual and interim reporting period, whether there are conditions or events, considered in the aggregate, that raise substantial doubt about an entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued when applicable) and provide related disclosures. ASU 2014-15 is effective for the annual period ending after December 15, 2016, and for annual and interim periods thereafter. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2014-15. In April 2015, the FASB issued ASU 2015-03, “Simplifying the Presentation of Debt Issuance Costs,” which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the carrying value of the associated debt liability, consistent with the presentation of debt discounts or premiums. The ASU is effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption is permitted for financial statements that have not been previously issued. The Company is currently evaluating the impact of ASU 2015-03. In July 2015, the FASB issued ASU 2015-11, “Inventory (Topic 330): Simplifying the Measurement of Inventory”. ASU 2015-11 requires inventory measured using any method other than last-in, first out (“LIFO”) or the retail inventory method to be subsequently measured at the lower of cost or net realizable value, rather than at the lower of cost or market. Under this ASU, subsequent measurement of inventory using the LIFO and retail inventory method is unchanged. ASU 2015-11 is effective prospectively for fiscal years, and for interim periods within those years, beginning after December 15, 2016. Early application is permitted. The Company is currently evaluating the impact of this ASU on its consolidated financial statements. In September 2015, the FASB issued ASU 2015-16, Simplifying the Accounting for Measurement-Period Adjustments.

License Fee

License Fee	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments Disclosure [Text Block]	4. License Fee On December 12, 2005, the Company extended its license agreement with Novavax, Inc. for an additional ten years for $ 1 25,000 75,000 25,000

Inventories

Inventories	9 Months Ended
	Sep. 30, 2015
Inventory Disclosure [Abstract]
Inventory Disclosure [Text Block]	5. Inventories Inventories are valued at the lower of cost or market, using the first-in-first-out method. September 30, 2015 December 31, 2014 (Unaudited) (Audited) (amounts in thousands) Raw materials $ 4,215 $ 2,299 Work in progress 106 140 Finished goods 637 345 Total $ 4,958 $ 2,784

Convertible 3.75% Senior Notes

Convertible 3.75% Senior Notes	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Convertible debt disclosure [Text Block]	6. Convertible 3.75% Senior Notes On December 16, 2014, the Company issued $ 125 18.75 139 4.8 1.6 The Notes bear interest at a fixed rate of 3.75 On May 20, 2015, the Company received shareholder approval for the increase in the number of shares of common stock authorized and available for issuance upon conversion of the Notes. As a result, the conversion option can now be share-settled in full, and now qualifies for equity classification, and the bifurcated derivative liability no longer needs to be accounted for as a separate derivative on a prospective basis as of May 20, 2015. The remaining unamortized debt discount that arose at the date of debt issuance from the original bifurcation will continue to be amortized using the effective interest method through interest expense. After adjusting the derivative liability to market value on May 20, 2015, the Company reclassified the remaining $ 18.3 The Notes and any common stock issuable upon conversion of the Notes have not been registered under the Securities Act, applicable state securities laws or the securities laws of any other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements. The Company does not intend to file a registration statement for the resale of the Notes or any common stock issuable upon conversion of the Notes, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful. Since the Company did not have sufficient authorized shares available to share-settle the conversion option in full prior to May 20, 2015, the embedded conversion option did not qualify for equity classification and instead was separately valued and accounted for as a derivative liability. On December 16, 2014, the initial value allocated to the derivative liability was $ 43.7 12.94 0 23.1 The Notes are being accounted for in accordance with ASC 470-20. Under ASC 470-20, issuers of convertible debt instruments that may be settled in cash upon conversion, including partial cash settlement, are required to separately account for the liability (debt) and equity (conversion option) components. The application of ASC 470-20 resulted in the recognition of $ 0 4.21 September 30 2015 Face amount of the Notes $ 143,750 Unamortized discount of the liability component 38,511 Carrying amount of the Notes $ 105,239 Deferred financing costs associated with the Notes include fees of $ 4.2 Initial Measurement Measurement Measurement December 16, December 31, May 20, 2014 2014 2015 Issue date 12/17/2014 12/17/2014 12/17/2014 Maturity date 12/15/2019 12/15/2019 12/15/2019 Term 4.99 4.92 4.57 Principal (millions) 143.75 143.75 143.75 Coupon 3.75 % 3.75 % 3.75 % Seniority Senior unsecured Senior unsecured Senior unsecured Conversion shares 88.572 88.572 88.572 Conversion price $ 11.29 $ 11.29 $ 11.29 Stock price $ 9.45 $ 8.80 $ 5.73 Risk free rate 1.61 % 1.64 % 1.44 % Volatility (rounded) 40.00 % 40.00 % 46.00 % Initial Decrease in Fair Measurement Value Reclassification December 16, Decrease in December 31, January 1, 2015 to of derivative liability to September 30, 2014 Fair Value 2014 May 20, 2015 equity on May 20, 2015 2015 Fair value of convertible feature of 3.75% senior notes $ 43,700 $ 2,300 $ 41,400 $ 23,144 $ 18,256 $ - Three months ended Nine months ended September 30, 2015 September 30, 2015 (in thousands) (in thousands) Interest Expense at 3.75% coupon rate (1) $ 1,348 $ 4,043 Debt discount amortization (1) 1,695 4,928 Amortization of deferred financing costs (1) 184 537 $ 3,227 $ 9,508 (1) Included within “Interest and other expense, net” on the Condensed Consolidated Statements of Operations

Note Payable - General Electric

Note Payable - General Electric Capital Corporation	9 Months Ended
	Sep. 30, 2015
General Electric Capital Corporation [Member]
Note Payable [Line Items]
Debt Disclosure [Text Block]	7. Note Payable - General Electric Capital Corporation On November 18, 2014, the Company entered into an asset-based revolving senior secured credit facility (the “Credit Agreement”) with General Electric Capital Corporation, as agent (the “Agent”), and GE Capital Bank and the other financial institutions party thereto, as lenders (the “Lenders”), pursuant to which the Lenders agreed to extend credit facilities to the Company (the “Financing”). To secure payment of the amounts financed under the Credit Agreement, the Company and the Agent entered into a Guaranty and Security Agreement (the “Guaranty and Security Agreement”). Under the terms of the Guaranty and Security Agreement, the Company granted to the Agent, for the benefit of the Lenders and other secured parties, a continuing security interest in and against substantially all of its tangible and intangible assets, except intellectual property, and each of the Company’s direct and indirect future subsidiaries shall guarantee the Company’s obligations under the Credit Agreement. Under the Credit Agreement, the Company can request revolving loan advances up to an aggregate total amount of $ 10 15 10 4.2 85 3.2 0 10 The term of the Credit Agreement is up to five years from November 18, 2014. The Credit Agreement contains customary representations and warranties and customary affirmative and negative covenants, including, among others, covenants that limit or restrict the Company’s ability to incur indebtedness, grant liens, merge or consolidate, dispose of assets, make investments, make acquisitions, enter into certain transactions with affiliates, pay dividends or make distributions, or repurchase stock, in each case, subject to customary exceptions for a loan facility of this size and type. In addition, the Credit Agreement contains customary events of default (subject to customary cure periods for certain events of default), including, among others, non-payment, inaccuracy of representations and warranties, covenant defaults, cross-default to material agreements, cross-default to material indebtedness, bankruptcy and insolvency and material judgment defaults. The Company must meet certain financial reporting and audit requirements, as defined by the Credit Agreement. The Company was in compliance with all covenants of the Credit Agreement as of September 30, 2015. Debt issuance costs of $432,000 are being amortized over the life of the Credit Agreement. In connection with this Financing, the Company paid in full its existing credit facility with Square 1 Bank (see Note 8) and executed a Release and Termination Note and Credit Agreement with Square 1 Bank to release the Company from any future obligations under the Credit Agreement executed on August 31, 2012, as amended July 26, 2013.

Note Payable - Square 1 Bank

Note Payable - Square 1 Bank	9 Months Ended
	Sep. 30, 2015
Square 1 Bank Loan [Member]
Note Payable [Line Items]
Debt Disclosure [Text Block]	8. Note Payable - Square 1 Bank On August 31, 2012, as amended on July 26, 2013, the Company entered into a Loan and Security Agreement (the “Loan and Security Agreement” “Lender” On November 18, 2014, the Company paid in full its existing credit facility with the Lender under the Loan and Security Agreement. The Company recorded amortization expense in the amount of $ 42,000

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	9. Stock-Based Compensation Stock Options The 1999 Director Stock Option Plan, as amended (the “Director Plan”), provides for the grant of stock options to non-employee directors of the Company at an exercise price equal to the fair market value per share on the date of the grant. An aggregate of 1,975,000 2,514,798 807,782 The 1999 Stock Incentive Plan, as amended (“1999 Plan”), replaced all previously authorized employee stock option plans, and no additional options may be granted under those previous plans. Under the 1999 Plan, options or stock awards may be granted to all of the Company's employees, officers, directors, consultants and advisors to purchase a maximum of 3,200,000 2,892,500 100 On June 26, 2009, the Board of Directors adopted, and the Company’s stockholders subsequently approved by written consent, the Teligent, Inc. 2009 Equity Incentive Plan (the “2009 Plan”). The 2009 Plan became effective on July 29, 2009. The 2009 Plan allows the Company to continue to grant options and restricted stock, as under the 1999 Plan, but also authorizes the Board of Directors to grant a broad range of other equity-based awards, including stock appreciation rights, restricted stock units (“RSUs”) and performance awards. The 2009 Plan has been created, pursuant to and consistent with the Company’s current compensation philosophy, to assist the Company in attracting, retaining and rewarding designated employees, directors, consultants and other service providers of the Company and its subsidiaries and affiliates, in a manner that will be cost efficient to the Company from both an economic and financial accounting perspective. On April 12, 2010, the Board of Directors adopted, and the Company’s stockholders subsequently approved, an amendment of the 2009 Plan to increase the number of shares of Common Stock available for grant under such plan by adding 2,000,000 1,000,000 5,000,000 1,000,000 2,739,168 172,750 1,506,248 230,420 In summary, there are 3,314,168 There are 267,984 720,086 For the nine months ended September 30, 2015 Expected volatility 52.7% - 65.8% Expected term (in years) 3.2 -3.3 years Risk-free rate 0.89% - 1.20% Expected dividends 0% Weighted Number of Average Options Exercise Price Outstanding as of January 1, 2015 2,436,834 $ 1.79 Issued 927,500 $ 9.94 Exercised (15,666) $ 1.95 Forfeited (34,500) $ 6.55 Expired - - Outstanding as of September 30, 2015 3,314,168 $ 4.02 Exercisable as of September 30, 2015 2,152,499 $ 1.19 Based upon application of the Black-Scholes option-pricing formula described above, the weighted-average grant-date fair value of options granted during the nine months ended September 30, 2015 was $ 3.83 Outstanding: Weighted Stock Weighted Average Options Average Remaining Range of Exercise Prices Outstanding Exercise Price Contractual Life $0.76 - $1.00 95,000 $ 0.78 2.33 $1.01 - $1.50 1,877,000 $ 1.07 6.39 $1.51 - $10.67 1,342,168 $ 8.38 8.93 Total 3,314,168 $ 4.02 7.30 Exercisable: Stock Weighted Options Average Range of Exercise Prices Exercisable Exercise Price $0.76 - $1.00 95,000 $ 0.78 $1.01 - $1.50 1,857,333 $ 1.07 $1.51 - $10.67 206,166 $ 2.45 Total 2,158,499 $ 1.19 As of September 30, 2015, the intrinsic value of the options outstanding was $ 11.8 11.53 71,975 2.9 Restricted Stock and RSUs The Company periodically grants restricted stock and RSU awards to certain officers and other employees that typically vest one to three years from their grant date. The Company recognized $ 250,000 93,000 498,000 458,000 Number of Weighted Average Restricted Stock Exercise Price Non-vested balance at January 1, 2015 108,334 $ 2.86 Changes during the period: Shares granted 32,500 10.67 Shares vested (140,834) 4.66 Shares forfeited - - Non-vested balance at September 30, 2015 $ - $ - Number of Weighted Average RSUs Exercise Price Non-vested balance at January 1, 2015 - $ - Changes during the period: Shares granted 205,250 10.67 Shares vested (32,500) 10.67 Shares forfeited - - Non-vested balance at September 30, 2015 172,750 $ 10.67

Stock Warrants

Stock Warrants	9 Months Ended
	Sep. 30, 2015
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	10. Stock Warrants 2015 2014 Weighted Weighted Number of Average Number of Average Warrants Exercise Price Warrants Exercise Price Balance at January 1, 84,000 $ 1.21 354,546 $ 1.21 Changes during the period: Stock warrants granted - - - - Stock warrants expired - - - - Stock warrants exercised - - (270,546) 1.21 Balance at September 30, 84,000 $ 1.21 84,000 $ 1.21 In connection with the private placement of the Company’s common stock on December 8, 2010, the Company granted common stock warrants to purchase up to 338,182 16,364 1.21 270,546

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	11. Income Taxes The Company’s ability to use net operating loss carry forwards is subject to substantial limitation in future periods under certain provisions of Section 382 of the Internal Revenue Code of 1986, as amended, which limit the utilization of net operating losses upon a more than 50 5 7.8 1.0 2.3 The Company is subject to the provisions of ASC 740-10-25, “Income Taxes”

Legal

Legal	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Legal Matters and Contingencies [Text Block]	12. Legal The Company is involved from time to time in claims which arise in the ordinary course of business, including the claims described below. In the opinion of management, the Company has made adequate provision for potential liabilities, if any, arising from any such matters. However, litigation is inherently unpredictable, and the costs and other effects of pending or future litigation, governmental investigations, legal and administrative cases and proceedings (whether civil or criminal), settlements, judgments and investigations, claims and changes in any such matters, and developments or assertions by or against us relating to intellectual property rights and intellectual property licenses, could have a material adverse effect on the Company’s business, financial condition and operating results. On May 21, 2015, Horizon Pharma Ireland Limited, HZNP Limited and Horizon Pharma USA, Inc. (collectively, “Horizon”) filed a complaint in the United States District Court for the District of New Jersey against the Company alleging infringement of certain United States patents based upon to the Company’s submission to the FDA of an Abbreviated New Drug Application (“ANDA”) seeking FDA approval to market diclofenac topical solution 2% w/w before the expiration of the patents asserted in the complaint. On June 30, 2015, August 11, 2015, September 17, 2015, and October 27, 2015, Horizon filed additional complaints in the United States District Court for the District of New Jersey against the Company alleging infringement of other of its United States patents in relation to the Company’s submission of the same ANDA. On July 21, 2015, September 11, 2015, October 6, 2015 and October 21, 2015, the Company filed answers, affirmative defenses and counterclaims with respect to the first four complaints filed by Horizon. In those filings, the Company asserted that the patents alleged to be infringed in the complaints filed by Horizon are invalid and not infringed by the Company. Again, given that the Company is a specialty generic pharmaceutical company, the Company believes that the claims made by Horizon are ordinary course. Moreover, the Company believes that its counterclaims and defenses have merit, but based on the early stage of these cases, the Company is unable to predict the outcome at this time.

2014 Public Offering

2014 Public Offering	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Public Offering Disclosure [Text Block]	2014 Public Offering On June 27, 2014, the Company entered into an underwriting agreement with Roth Capital Partners, LLC and Oppenheimer & Co., as representatives of the several underwriters named therein (the “Underwriters”), relating to the underwritten public offering and sale of up to an aggregate of 4,650,000 0.01 5.00 697,500 The Offering was made pursuant to the Company’s shelf registration statement on Form S-3 (Registration No. 333-196543), filed on June 5, 2014 with the SEC and declared effective by the SEC on June 16, 2014, as well as the prospectus supplement describing the terms of the Offering, dated June 27, 2014. On July 2, 2014, the Company closed the Offering, and after giving effect to the underwriters’ exercise of the over-allotment option, the Company sold an aggregate of 5,347,500 5.00 24.9

Asset Purchase Agreements

Asset Purchase Agreements	9 Months Ended
	Sep. 30, 2015
Asset Purchase Agreement Disclosure [Abstract]
Asset Purchase Agreement Disclosure [Text Block]	Asset Purchase Agreements Astra Zeneca On September 24, 2014, the Company entered into an Asset Purchase Agreement (the “AZ Purchase Agreement”) with AstraZeneca Pharmaceuticals LP, a Delaware corporation (“AstraZeneca”), pursuant to which the Company acquired all rights, titles and interests of AstraZeneca and its affiliates in Abbreviated New Drug Applications and New Drug Applications associated with eighteen products (collectively the “ Purchased Regulatory Approvals”) and certain documents relating thereto (together with the Purchased Regulatory Approvals, the “Purchased Assets”). In consideration for the purchase of the Purchased Assets, the Company paid AstraZeneca $ 0.5 in September 2014 and paid 6 3 6.9 Valeant On September 30, 2014, the Company entered into two Asset Purchase Agreements (each, a “Valeant Purchase Agreement” and together, the “Valeant Asset Purchase Agreements”), one with Valeant Pharmaceuticals North America LLC and the other with Valeant Pharmaceuticals Luxembourg SARL (together, “Valeant”), pursuant to which the Company acquired all rights, titles and interests of Valeant and their respective affiliates in Abbreviated New Drug Applications and New Drug Applications associated with two products (collectively, the “Valeant Purchased Regulatory Approvals”) and certain documents related thereto (together with the Valeant Purchased Regulatory Approvals, the “Valeant Purchased Assets”). Pursuant to the terms of the Valeant Asset Purchase Agreements, the Company also acquired the option (each, an “Option” and, collectively, the “Options”) to purchase Abbreviated New Drug Applications and New Drug Applications associated with three additional products (the “Additional Assets”). In consideration for the purchase of the Valeant Purchased Assets, the Company paid Valeant an aggregate of $ 1.5 0.8 0.5 2 0.5 1.5 3.5

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
Subsequent Events [Text Block]	15. Subsequent Events Chief Scientific Officer On October 5, 2015, the Company appointed Stephen Richardson as the Company’s Chief Scientific Officer. Under the terms of his employment agreement, Mr. Richardson will receive an annual salary of $ 300,000 As soon as practicable following the effective date of his employment agreement and subject to the approval of the Company’s Board of Directors, Mr. Richardson will also receive an equity grant pursuant to the Company’s 2009 Equity Incentive Plan consisting of 25,000 200,000 7.42 Mr. Richardson is also subject to certain restrictive covenants as set forth in his employment agreement, including confidentiality, non-solicitation and non-competition. Mr. Richardson’s employment agreement further provides for payments upon certain types of employment termination events as further set forth in his employment agreement. Acquisition of Three Commercialized Injectable Products On October 5, 2015, the Company, together with Teligent Jersey Limited, a wholly-owned subsidiary of the Company incorporated under the laws of Jersey (the “Company Subsidiary”) established for the purpose of consummating the transaction, acquired, pursuant to an Asset Purchase Agreement and certain other ancillary agreements entered into with Concordia Pharmaceuticals Inc., S.à.r.l., Barbados Branch (the “Seller”), all rights, title and interests of the Seller in the existing inventory and certain contracts associated with three currently marketed injectable pharmaceutical products (Fortaz®, Zinacef TM In consideration for the purchase of the Purchased Assets, the Purchasers paid the Seller $ 10,000,000 A copy of the Purchase Agreement is filed as Exhibit 10.3 to this Quarterly Report on Form 10-Q for the period ending September 30, 2015. Agreement to Acquire the Assets of Canadian Pharmaceutical Company, Alveda Pharmaceuticals, Inc. On October 12, 2015, the Company entered into asset purchase agreements (each, a “Purchase Agreement” and together, the “Purchase Agreements”) and certain other ancillary agreements with Alveda Pharmaceuticals Inc. (the “ Seller ”) for the purchase of the Seller’s rights, title, and interest in the development, production, marketing, import and distribution of certain pharmaceutical products. The Company agreed to purchase the intellectual property-related assets of the Seller, including certain contracts, goodwill, product registrations and books and records, pursuant to the terms of one Purchase Agreement and the non-intellectual property-related assets of Seller, including certain accounts receivable, inventory, prepaid expenses, capital assets, contracts, operational permits, books and records, and certain intellectual property, pursuant to the terms of the other Purchase Agreement. Certain employees of the Seller will be retained by the Company following the closing of the transaction. The aggregate purchase price to be satisfied on the closing of the transaction in accordance with the terms of the Purchase Agreements will be approximately $ 47,000,000 Approval for Listing on the NASDAQ Global Select Market On October 14, 2015, the Company provided written notice to the NYSE MKT LLC (the “NYSE MKT”) that the Company intended to transfer the listing of the Company’s common stock from the NYSE MKT to the NASDAQ Global Select Market, and withdraw the listing and registration of the common stock from the NYSE MKT. The common stock has been authorized for listing on the NASDAQ Global Select Market. The Company’s common stock ceased trading on the NYSE MKT at the close of business on October 23, 2015, and began trading on the NASDAQ Global Select Market on October 26, 2015. Name Change On October 22, 2015, the Company announced (1) that it will change its name to Teligent, Inc. effective as of October 23, 2015, at 5:00 P.M. Eastern Daylight Time and (2) that the Company’s common stock, which was previously approved for listing on the NASDAQ Global Select Market, would be quoted under the trading symbol “TLGT” as of the first day of trading on such exchange on Monday, October 26, 2015.

Summary of Significant Accoun23

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
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 of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include valuation of the derivative liability, sales returns and allowances (“SRA”), allowances for excess and obsolete inventories, allowances for doubtful accounts, provisions for income taxes and related deferred tax asset valuation allowances, stock based compensation and accruals for environmental cleanup and remediation costs.
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instruments The carrying amounts of cash and cash equivalents, trade receivables, restricted cash, notes payable, accounts payable, capital leases and other accrued liabilities at September 30, 2015 approximate their fair value for all periods presented. The Company measures fair value in accordance with ASC 820-10, “Fair Value Measurements and Disclosures”. ASC 820-10 clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. As a basis for considering such assumptions, ASC 820-10 establishes a three-tier value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value: Level 1 Inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date. Level 2 Inputs: Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability. Level 3 Inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at measurement date. The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The Company measured its derivative liability at fair value. The derivative convertible option related to Notes (as defined in Note 6) issued December 16, 2014 was valued using the “with” and “without” analysis. A “with” and “without” analysis is a standard valuation technique for valuing embedded derivatives by first considering the value of the Notes with the option and then considering the value of the Notes without the option. The difference is the fair value of the embedded derivatives. The embedded derivative was classified within Level 3 because it was valued using the “with” and “without” method, which does utilize inputs that are unobservable in the market. On May 20, 2015, the Company received approval to increase its authorized shares sufficient to allow for the conversion of the embedded option into equity at the annual shareholders meeting. Therefore, the derivative liability of $ 18.3 105.2 143.75 0 23.1
Earnings Per Share, Policy [Policy Text Block]	Earnings Per Share Basic earnings (loss) per share of common stock is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted earnings (loss) per share of common stock is computed using the weighted average number of shares of common stock and potential dilutive common stock equivalents outstanding during the period. (in thousands except shares and per share data) Three months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 Basic earnings per share computation: Net income (loss) - basic $ (2,888) $ (202) $ 13,043 $ (380) Weighted average common shares - basic 52,869,529 52,457,938 52,857,624 48,811,328 Basic earnings (loss) per share $ (0.05) $ (0.00) $ 0.25 $ (0.01) Dilutive earnings per share computation: Net income (loss) - basic $ (2,888) $ (202) $ 13,043 $ (380) Interest expense related to convertible 3.75% senior notes - - 4,043 - Amortization of discount related to convertible 3.75% senior notes - - 4,928 - Change in the fair value of derivative - - (23,144) - Net loss - diluted $ (2,888) $ (202) $ (1,130) $ (380) Share Computation: Weighted average common shares - basic 52,869,529 52,457,938 52,857,624 48,811,328 Effect of convertible 3.75% senior notes - - 12,732,168 - Effect of dilutive stock options and warrants - - 1,583,458 - Weighted average common shares outstanding - dilluted 52,869,529 52,457,938 67,173,250 48,811,328 Diluted loss per share $ (0.05) $ (0.00) $ (0.02) $ (0.01)
Revenue Recognition, Services, Licensing Fees [Policy Text Block]	Revenue Recognition The Company considers revenue realized or realizable and earned when it has persuasive evidence of an arrangement, delivery has occurred or contractual services rendered, the sales price is fixed or determinable, and collection is reasonably assured in conformity with ASC 605, “Revenue Recognition” The Company derives its revenues from three basic types of transactions: sales of its own generic pharmaceutical topical products, sales of manufactured product for its customers included in product sales, and research and product development services performed for third parties. Due to differences in the substance of these transaction types, the transactions require, and the Company utilizes, different revenue recognition policies for each. Product Sales: Product Sales includes Company Product Sales and Contract Manufacturing Sales. Company Product Sales : The Company records revenue from Company product sales when title and risk of ownership have been transferred to the customer, which is typically upon delivery of products to the customer. Revenue and Provision for Sales Returns and Allowances As is customary in the pharmaceutical industry, the Company’s gross product sales from Company label products are subject to a variety of deductions in arriving at reported net product sales. When the Company recognizes revenue from the sale of products, an estimate of SRA is recorded, which reduces product sales. Accounts receivable and/or accrued expenses are also reduced and/or increased by the SRA amount. These adjustments include estimates for chargebacks, rebates, cash discounts and returns and other allowances. These provisions are estimates based on historical payment experience, historical relationship to revenues, estimated customer inventory levels and current contract sales terms with direct and indirect customers. The estimation process used to determine our SRA provision has been applied on a consistent basis and no material adjustments have been necessary to increase or decrease our reserves for SRA as a result of a significant change in underlying estimates. The Company will use a variety of methods to assess the adequacy of our SRA reserves to ensure that our financial statements are fairly stated. These will include periodic reviews of customer inventory data, customer contract programs, subsequent actual payment experience, and product pricing trends to analyze and validate the SRA reserves. The provision for chargebacks is our most significant sales allowance. A chargeback represents an amount payable in the future to a wholesaler for the difference between the invoice price paid to the Company by our wholesale customer for a particular product and the negotiated contract price that the wholesaler’s customer pays for that product. The Company’s chargeback provision and related reserve varies with changes in product mix, changes in customer pricing and changes to estimated wholesaler inventories. The provision for chargebacks also takes into account an estimate of the expected wholesaler sell-through levels to indirect customers at contract prices. The Company will validate the chargeback accrual quarterly through a review of the inventory reports obtained from our largest wholesale customers. This customer inventory information is used to verify the estimated liability for future chargeback claims based on historical chargeback and contract rates. These large wholesalers represent 90 95 Gross-To-Net Sales Deductions (in thousands) Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Gross Company product sales $ 23,167 $ 14,823 $ 73,347 $ 25,618 Reduction to gross product sales: Chargebacks and billbacks 9,072 10,365 37,160 13,832 Sales discounts and other allowances 5,381 1,445 12,703 2,446 Total reduction to gross product sales 14,453 11,810 49,863 16,278 Company product sales, net $ 8,714 $ 3,013 $ 23,484 $ 9,340 Net Company product sales of $ 8.7 3.0 23.5 9.3 11.1 4.2 1.3 0.8 1.4 0.8 4.7 1.5 40 1.0 0.7 1.2 0.7 2.8 2.9 Contract Manufacturing Sales : The Company recognizes revenue when title transfers to its customers, which is generally upon shipment of products. These shipments are made in accordance with sales commitments and related sales orders entered into with customers either verbally or in written form. The revenues associated with these transactions, net of appropriate cash discounts, product returns and sales reserves, are recorded upon shipment of the products and are included in product sales, net on the Company’s Condensed Consolidated Statement of Operations. Research and Development Income : The Company establishes agreed upon product development agreements with its customers to perform product development services. Product development revenues are recognized in accordance with the product development agreement upon the completion of the phases of development and when the Company has no future performance obligations relating to that phase of development. Revenue recognition requires the Company to assess progress against contracted obligations to assure completion of each stage. These payments are generally non-refundable and are reported as deferred until they are recognizable as revenue. If no such arrangement exists, product development fees are recognized ratably over the entire period during which the services are performed. In making such assessments, judgments are required to evaluate contingencies such as potential variances in schedule and the costs, the impact of change orders, liability claims, contract disputes and achievement of contractual performance standards. Changes in total estimated contract cost and losses, if any, are recognized in the period they are determined. Billings on research and development contracts are typically based upon terms agreed upon by the Company and customer and are stated in the contracts themselves and do not always align with the revenues recognized by the Company.
Major Customers, Policy [Policy Text Block]	Major Customers Major customers of the Company are defined as having revenue greater than 10 47 for 59 58 53 evenue, respectively. Two of these customers are the same for both periods. Accounts receivable related to the Company’s major customers comprised 80 evenues and harm our business and results of operations. The Company had net revenue from one product, econazole nitrate cream, which accounted for 52 24 52 21
Derivatives, Policy [Policy Text Block]	Derivatives The Company accounts for its derivative instruments in accordance with ASC 815-10, “Derivatives and Hedging”. ASC 815-10 establishes accounting and reporting standards requiring that derivative instruments, including derivative instruments embedded in other contracts, be recorded on the balance sheet as either an asset or liability measured at its fair value. ASC 815-10 also requires that changes in the fair value of derivative instruments be recognized currently in results of operations unless specific hedge accounting criteria are met. The Company has not entered into hedging activities to date. The Company's derivative liability was the embedded convertible option of its Notes issued December 16, 2014 (see Note 6), which has been recorded as a liability at fair value and was revalued at each reporting date, with changes in the fair value of the instruments included in the consolidated statements of operations as non-operating income (expense). Due to the approval of the sufficient shares at the Company’s annual shareholder meeting, the liability for the embedded derivative was reclassified to equity on May 20, 2015. The Company has no derivatives at September 30, 2015.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2014-09, “Revenue from Contracts with Customers”. This ASU is a comprehensive new revenue recognition model that requires a company to recognize revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. This ASU is effective for annual reporting periods beginning after December 15, 2017 and early adoption is not permitted. Accordingly, the Company will adopt this ASU on January 1, 2018. Companies may use either a full retrospective or modified retrospective approach to adopt this ASU and management is currently evaluating which transition approach to use. The Company is currently evaluating the impact of ASU 2014-09. In August 2014, the FASB issued ASU 2014-15, “Presentation of Financial Statements — Going Concern: Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern”. This ASU requires management to evaluate, in connection with preparing financial statements for each annual and interim reporting period, whether there are conditions or events, considered in the aggregate, that raise substantial doubt about an entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued when applicable) and provide related disclosures. ASU 2014-15 is effective for the annual period ending after December 15, 2016, and for annual and interim periods thereafter. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2014-15. In April 2015, the FASB issued ASU 2015-03, “Simplifying the Presentation of Debt Issuance Costs,” which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the carrying value of the associated debt liability, consistent with the presentation of debt discounts or premiums. The ASU is effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption is permitted for financial statements that have not been previously issued. The Company is currently evaluating the impact of ASU 2015-03. In July 2015, the FASB issued ASU 2015-11, “Inventory (Topic 330): Simplifying the Measurement of Inventory”. ASU 2015-11 requires inventory measured using any method other than last-in, first out (“LIFO”) or the retail inventory method to be subsequently measured at the lower of cost or net realizable value, rather than at the lower of cost or market. Under this ASU, subsequent measurement of inventory using the LIFO and retail inventory method is unchanged. ASU 2015-11 is effective prospectively for fiscal years, and for interim periods within those years, beginning after December 15, 2016. Early application is permitted. The Company is currently evaluating the impact of this ASU on its consolidated financial statements. In September 2015, the FASB issued ASU 2015-16, Simplifying the Accounting for Measurement-Period Adjustments.

Summary of Significant Accoun24

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Potential dilutive common stock equivalents include shares issuable upon the conversion of the Notes and the exercise of options and warrants. (in thousands except shares and per share data) Three months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 Basic earnings per share computation: Net income (loss) - basic $ (2,888) $ (202) $ 13,043 $ (380) Weighted average common shares - basic 52,869,529 52,457,938 52,857,624 48,811,328 Basic earnings (loss) per share $ (0.05) $ (0.00) $ 0.25 $ (0.01) Dilutive earnings per share computation: Net income (loss) - basic $ (2,888) $ (202) $ 13,043 $ (380) Interest expense related to convertible 3.75% senior notes - - 4,043 - Amortization of discount related to convertible 3.75% senior notes - - 4,928 - Change in the fair value of derivative - - (23,144) - Net loss - diluted $ (2,888) $ (202) $ (1,130) $ (380) Share Computation: Weighted average common shares - basic 52,869,529 52,457,938 52,857,624 48,811,328 Effect of convertible 3.75% senior notes - - 12,732,168 - Effect of dilutive stock options and warrants - - 1,583,458 - Weighted average common shares outstanding - dilluted 52,869,529 52,457,938 67,173,250 48,811,328 Diluted loss per share $ (0.05) $ (0.00) $ (0.02) $ (0.01)
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	Net revenues and accounts receivable balances in the Company’s consolidated financial statements are presented net of SRA estimates. Certain SRA balances are included in accounts payable and accrued expenses. Gross-To-Net Sales Deductions (in thousands) Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Gross Company product sales $ 23,167 $ 14,823 $ 73,347 $ 25,618 Reduction to gross product sales: Chargebacks and billbacks 9,072 10,365 37,160 13,832 Sales discounts and other allowances 5,381 1,445 12,703 2,446 Total reduction to gross product sales 14,453 11,810 49,863 16,278 Company product sales, net $ 8,714 $ 3,013 $ 23,484 $ 9,340

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2015
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	Inventories at September 30, 2015 and December 31, 2014 consist of: September 30, 2015 December 31, 2014 (Unaudited) (Audited) (amounts in thousands) Raw materials $ 4,215 $ 2,299 Work in progress 106 140 Finished goods 637 345 Total $ 4,958 $ 2,784

Convertible 3.75% Senior Notes

Convertible 3.75% Senior Notes (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Convertible Debt [Table Text Block]	At September 30, 2015 the net carrying amount of the liability component and the remaining unamortized debt discount were as follows: September 30 2015 Face amount of the Notes $ 143,750 Unamortized discount of the liability component 38,511 Carrying amount of the Notes $ 105,239
Schedule of Long-term Debt Instruments [Table Text Block]	The assumptions used in connection with the valuation of the convertible option of the Notes issued December 16, 2014 utilizing the "with” and “without” method, discussed in Note 3 was as follows: Initial Measurement Measurement Measurement December 16, December 31, May 20, 2014 2014 2015 Issue date 12/17/2014 12/17/2014 12/17/2014 Maturity date 12/15/2019 12/15/2019 12/15/2019 Term 4.99 4.92 4.57 Principal (millions) 143.75 143.75 143.75 Coupon 3.75 % 3.75 % 3.75 % Seniority Senior unsecured Senior unsecured Senior unsecured Conversion shares 88.572 88.572 88.572 Conversion price $ 11.29 $ 11.29 $ 11.29 Stock price $ 9.45 $ 8.80 $ 5.73 Risk free rate 1.61 % 1.64 % 1.44 % Volatility (rounded) 40.00 % 40.00 % 46.00 %
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]	The table below provides a reconciliation of beginning and ending balances for the liability measured at fair value using significant observable and unobservable inputs (Level 3). The table reflects the gains associated with the decrease in fair value and the reclassification of the balance of the derivative liability. Initial Decrease in Fair Measurement Value Reclassification December 16, Decrease in December 31, January 1, 2015 to of derivative liability to September 30, 2014 Fair Value 2014 May 20, 2015 equity on May 20, 2015 2015 Fair value of convertible feature of 3.75% senior notes $ 43,700 $ 2,300 $ 41,400 $ 23,144 $ 18,256 $ -
Interest Income and Interest Expense Disclosure [Table Text Block]	For the three months and the nine months ended September 30, 2015, the Company recorded the following expenses in relation to the Notes: Three months ended Nine months ended September 30, 2015 September 30, 2015 (in thousands) (in thousands) Interest Expense at 3.75% coupon rate (1) $ 1,348 $ 4,043 Debt discount amortization (1) 1,695 4,928 Amortization of deferred financing costs (1) 184 537 $ 3,227 $ 9,508 (1) Included within “Interest and other expense, net” on the Condensed Consolidated Statements of Operations

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	The fair value of each option award is estimated on the date of grant using the Black-Scholes option-pricing formula that uses assumptions noted in the following table. Expected volatilities and risk-free interest rates are based upon the expected life of the grant. The interest rates used are the U.S. Treasury yield curve in effect at the time of the grant. For the nine months ended September 30, 2015 Expected volatility 52.7% - 65.8% Expected term (in years) 3.2 -3.3 years Risk-free rate 0.89% - 1.20% Expected dividends 0%
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	A summary of option activity under the 1999 Plan, the Director Plan and the 2009 Plan as of September 30, 2015 and changes during the period are presented below: Weighted Number of Average Options Exercise Price Outstanding as of January 1, 2015 2,436,834 $ 1.79 Issued 927,500 $ 9.94 Exercised (15,666) $ 1.95 Forfeited (34,500) $ 6.55 Expired - - Outstanding as of September 30, 2015 3,314,168 $ 4.02 Exercisable as of September 30, 2015 2,152,499 $ 1.19
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]	The following table summarizes information regarding options outstanding and exercisable at September 30, 2015: Outstanding: Weighted Stock Weighted Average Options Average Remaining Range of Exercise Prices Outstanding Exercise Price Contractual Life $0.76 - $1.00 95,000 $ 0.78 2.33 $1.01 - $1.50 1,877,000 $ 1.07 6.39 $1.51 - $10.67 1,342,168 $ 8.38 8.93 Total 3,314,168 $ 4.02 7.30 Exercisable: Stock Weighted Options Average Range of Exercise Prices Exercisable Exercise Price $0.76 - $1.00 95,000 $ 0.78 $1.01 - $1.50 1,857,333 $ 1.07 $1.51 - $10.67 206,166 $ 2.45 Total 2,158,499 $ 1.19
Nonvested Restricted Stock Shares Activity [Table Text Block]	Number of Weighted Average Restricted Stock Exercise Price Non-vested balance at January 1, 2015 108,334 $ 2.86 Changes during the period: Shares granted 32,500 10.67 Shares vested (140,834) 4.66 Shares forfeited - - Non-vested balance at September 30, 2015 $ - $ -
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]	Number of Weighted Average RSUs Exercise Price Non-vested balance at January 1, 2015 - $ - Changes during the period: Shares granted 205,250 10.67 Shares vested (32,500) 10.67 Shares forfeited - - Non-vested balance at September 30, 2015 172,750 $ 10.67

Stock Warrants (Tables)

Stock Warrants (Tables)	9 Months Ended
	Sep. 30, 2015
Stockholders' Equity Note [Abstract]
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	Stock Warrant activity for the nine months ended September 30, 2015 and 2014 consisted of: 2015 2014 Weighted Weighted Number of Average Number of Average Warrants Exercise Price Warrants Exercise Price Balance at January 1, 84,000 $ 1.21 354,546 $ 1.21 Changes during the period: Stock warrants granted - - - - Stock warrants expired - - - - Stock warrants exercised - - (270,546) 1.21 Balance at September 30, 84,000 $ 1.21 84,000 $ 1.21

Liquidity (Details Textual)

Liquidity (Details Textual) - USD ($) $ in Thousands	Sep. 30, 2015	Aug. 03, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Liquidity Details [Line Items]
Cash and Cash Equivalents, at Carrying Value	$ 145,699		$ 158,883	$ 23,248	$ 2,101
Line of Credit Facility, Remaining Borrowing Capacity	10,000
Line of Credit Facility, Maximum Borrowing Capacity	$ 10,000
Additional Aggregate Consideration Paid		$ 6,000

Summary of Significant Accoun30

Summary of Significant Accounting Policies (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Basic earnings per share computation:
Net income (loss) - basic	$ (2,888)	$ (202)	$ 13,043	$ (380)
Weighted average common shares - basic	52,869,529	52,457,938	52,857,624	48,811,328
Basic earnings (loss) per share	$ (0.05)	$ 0	$ 0.25	$ (0.01)
Dilutive earnings per share computation:
Net income (loss) - basic	$ (2,888)	$ (202)	$ 13,043	$ (380)
Interest expense related to convertible 3.75% senior notes	0	0	4,043	0
Amortization of discount related to convertible 3.75% senior notes	0	0	4,928	0
Change in the fair value of derivative	0	0	(23,144)	0
Net income - diluted	$ (2,888)	$ (202)	$ (1,130)	$ (380)
Share Computation:
Weighted average common shares —basic	52,869,529	52,457,938	52,857,624	48,811,328
Effect of convertible 3.75% senior notes	0	0	12,732,168	0
Effect of dilutive stock options and warrants	0	0	1,583,458	0
Weighted average common shares outstanding —diluted	52,869,529	52,457,938	67,173,250	48,811,328
Diluted loss per share	$ (0.05)	$ 0	$ (0.02)	$ (0.01)

Summary of Significant Accoun31

Summary of Significant Accounting Policies (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Reduction to gross product sales:
Company product sales, net	$ 11,375	$ 6,005	$ 30,532	$ 18,525
Gross Net Adjustments [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross Company product sales	23,167	14,823	73,347	25,618
Reduction to gross product sales:
Chargebacks and billbacks	9,072	10,365	37,160	13,832
Sales discounts and other allowances	5,381	1,445	12,703	2,446
Total reduction to gross product sales	14,453	11,810	49,863	16,278
Company product sales, net	$ 8,714	$ 3,013	$ 23,484	$ 9,340

Summary of Significant Accoun32

Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	May. 20, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Summary of Significant Accounting Policies Details [Line Items]
Accounts Payable and Accrued Liabilities		$ 1,000	$ 700	$ 1,000	$ 700
WholeSale Fees		1,400	800	4,700	1,500
Royalty Expense		1,200	700	2,800	2,900
Unrealized Gain (Loss) on Derivatives		0	0	$ 23,144	0
Percentage Of Net Sales For Royalty				40.00%
Sales Revenue, Goods, Net, Total		$ 11,375	$ 6,005	$ 30,532	18,525
Embedded Derivative, No Longer Bifurcated, Amount Reclassified to Stockholders Equity				$ 18,256	$ 0
Senior Notes [Member]
Summary of Significant Accounting Policies Details [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		3.75%	3.75%	3.75%	3.75%
Convertible Notes Payable [Member]
Summary of Significant Accounting Policies Details [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		3.75%	3.75%	3.75%	3.75%	3.75%
Notes Payable, Fair Value Disclosure		$ 105,200		$ 105,200
Long-term Debt, Gross		143,750		143,750
Unrealized Gain (Loss) on Derivatives		$ 0		$ 23,100
Embedded Derivative, No Longer Bifurcated, Amount Reclassified to Stockholders Equity	$ 18,300
Sales Revenue, Net [Member] | Econazole Nitrate Cream [Member]
Summary of Significant Accounting Policies Details [Line Items]
Concentration Risk, Percentage		52.00%	24.00%	52.00%	21.00%
Customer One [Member] | Sales Revenue, Net [Member]
Summary of Significant Accounting Policies Details [Line Items]
Concentration Risk, Percentage		47.00%	59.00%
Customer Two [Member] | Sales Revenue, Net [Member]
Summary of Significant Accounting Policies Details [Line Items]
Concentration Risk, Percentage				58.00%	53.00%
Customer Concentration Risk [Member]
Summary of Significant Accounting Policies Details [Line Items]
Percentage of Accounts Receivable		80.00%		80.00%
Royalty [Member]
Summary of Significant Accounting Policies Details [Line Items]
Accounts Payable and Accrued Liabilities		$ 1,300	$ 800	$ 1,300	$ 800
Maximum [Member]
Summary of Significant Accounting Policies Details [Line Items]
Wholesaler Percent of Chargeback Payments		95.00%		95.00%
Minimum [Member]
Summary of Significant Accounting Policies Details [Line Items]
Wholesaler Percent of Chargeback Payments		90.00%		90.00%
Minimum [Member] | Sales Revenue, Net [Member]
Summary of Significant Accounting Policies Details [Line Items]
Concentration Risk, Percentage				10.00%
Net Of SRA Balance [Member]
Summary of Significant Accounting Policies Details [Line Items]
Accounts Receivable, Net		$ 11,100	4,200	$ 11,100	4,200
IGI Product [Member]
Summary of Significant Accounting Policies Details [Line Items]
Sales Revenue, Goods, Net, Total		$ 8,700	$ 3,000	$ 23,500	$ 9,300

License Fee (Details Textual)

License Fee (Details Textual) - Licensing Agreements [Member] - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 12, 2005
License Fee [Line Items]
Finite-Lived Intangible Assets, Remaining Amortization Period			10 years
Finite-Lived License Agreements, Gross					$ 1,000,000
Amortization	$ 25,000	$ 25,000	$ 75,000	$ 75,000
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	$ 25,000		$ 25,000

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Inventory [Line Items]
Raw materials	$ 4,215	$ 2,299
Work in progress	106	140
Finished goods	637	345
Total	$ 4,958	$ 2,784

Convertible 3.75% Senior Note35

Convertible 3.75% Senior Notes (Details) - Convertible Notes Payable [Member] $ in Thousands	Sep. 30, 2015USD ($)
Debt Instrument [Line Items]
Face Amount of the Notes	$ 143,750
Unamortized discount of the liability component	38,511
Carrying amount of the Notes	$ 105,239

Convertible 3.75% Senior Note36

Convertible 3.75% Senior Notes (Details 1) - Convertible Debt [Member] - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended
	May. 20, 2015	Dec. 31, 2014	Dec. 16, 2014
Debt Instrument [Line Items]
Issue date	Dec. 17, 2014	Dec. 17, 2014	Dec. 17, 2014
Maturity date	Dec. 15, 2019	Dec. 15, 2019	Dec. 15, 2019
Term	4 years 6 months 25 days	4 years 11 months 1 day	4 years 11 months 26 days
Principal (millions)	$ 143,750	$ 143,750	$ 143,750
Coupon	3.75%	3.75%	3.75%
Seniority	Senior unsecured	Senior unsecured	Senior unsecured
Conversion shares	88.572	88.572	88.572
Conversion price	$ 11.29	$ 11.29	$ 11.29
Stock price	$ 5.73	$ 8.80	$ 9.45
Risk free rate	1.44%	1.64%	1.61%
Volatily (rounded)	46.00%	40.00%	40.00%

Convertible 3.75% Senior Note37

Convertible 3.75% Senior Notes (Details 2) - Convertible Notes Payable [Member] - USD ($) $ in Thousands	Dec. 31, 2014	Sep. 30, 2015
Debt Instrument [Line Items]
Fair Value of Convertible Feature of Convertible 3.75% Senior Notes, Initial Measurement Beginning balance	$ 43,700	$ 41,400
Fair Value of Convertible Feature of Convertible 3.75% Senior Notes, Decrease in Fair Value	2,300	23,144
Fair Value of Convertible Feature of Convertible 3.75% Senior Notes, Reclassification of derivative liability to equity		18,256
Fair Value of Convertible Feature of Convertible 3.75% Senior Notes, Ending balance	$ 41,400	$ 0

Convertible 3.75% Senior Note38

Convertible 3.75% Senior Notes (Details 3) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Debt Instrument [Line Items]
Interest Expense at 3.75% coupon rate (1)		$ 0	$ 0	$ 4,043	$ 0
Debt discount amortization (1)		0	$ 0	4,928	0
Amortization of deferred financing costs (1)				584	$ 24
Convertible Notes Payable [Member]
Debt Instrument [Line Items]
Interest Expense at 3.75% coupon rate (1)	[1]	1,348		4,043
Debt discount amortization (1)	[1]	1,695		4,928
Amortization of deferred financing costs (1)	[1]	184		537
Total interest expense		$ 3,227		$ 9,508
[1]	Included within “Interest and other expense, net” on the Condensed Consolidated Statements of Operations

Convertible 3.75% Senior Note39

Convertible 3.75% Senior Notes (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	May. 20, 2015	Dec. 22, 2014	Dec. 16, 2014
Debt Instrument [Line Items]
Payments of Debt Issuance Costs			$ 27	$ 0
Derivative Liability, Fair Value, Gross Liability	$ 0		0		$ 41,400
Deferred Tax Liabilities, Deferred Expense, Deferred Financing Costs	4,200		4,200
Embedded Derivative, No Longer Bifurcated, Amount Reclassified to Stockholders' Equity			18,256	0
Unrealized Gain (Loss) on Derivatives	0	$ 0	23,144	$ 0
Qualified Institutional Buyers [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount							$ 18,750	$ 125,000
Convertible Notes Payable [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount					143,750	$ 143,750		143,750
Proceeds from Issuance of Senior Long-term Debt					139,000
Payments of Debt Issuance Costs					$ 4,800
Interest Payable	1,600		$ 1,600
Debt Instrument, Convertible, Terms of Conversion Feature			The Notes are convertible at an initial conversion price of approximately $11.29 per share, which is equivalent to an initial conversion rate of 88.5716 shares per $1,000 principal amount of Notes, subject to adjustment in certain events, such as distributions of dividends or stock splits. Holders may convert their Notes at their option prior to September 15, 2019, when or if certain conditions have been met or circumstances have occurred, such as if the Companys stock price exceeds 130% of the conversion price under the Notes for a designated period of time, or the trading price of the Notes is, for a designated period of time, less than 98% of the closing sale price of the Companys common stock multiplied by the then-current conversion rate of the Notes, or the Company calls Notes for redemption, or certain specified corporate events occur. Holders may also convert their Notes at their option at any time on or after September15, 2019 and prior to the close of business on the business day immediately preceding the stated maturity date. In addition, following the occurrence of certain changes of control of the Company described in the Indenture governing the Notes or termination of trading of the Companys common stock or other securities into which the Notes are convertible (a make-whole fundamental change) or the delivery by the Company of a notice of redemption, the conversion rate for a holder who elects to convert its Notes in connection with such make-whole fundamental change or such notice of redemption will increase. Additionally, if certain conditions have been met or circumstances have occurred, such as if the Companys stock price exceeds 150% of the conversion price under the Notes for a designated period of time, or the trading of the Notes is, for a designated period of time, less than 98% of the closing sale price of the Companys stock multiplied by the then-current conversion rate of the Notes, or the Company calls Notes for redemption, the Company may redeem for cash any or all outstanding Notes on or after December 19, 2017 in an amount equal to the outstanding principal amount of such Notes, plus accrued and unpaid interest.
Derivative Liability								$ 43,700
Debt Instrument, Interest Rate, Effective Percentage								12.94%
Derivative Liability, Fair Value, Gross Liability	0		$ 0
Debt Instrument, Interest Rate, Stated Percentage					3.75%	3.75%		3.75%
Embedded Derivative, No Longer Bifurcated, Amount Reclassified to Stockholders' Equity			18,300
Unrealized Gain (Loss) on Derivatives	$ 0		$ 23,100
Debt Instrument, Convertible, Remaining Discount Amortization Period			4 years 2 months 16 days

Note Payable - General Electr40

Note Payable - General Electric Capital Corporation (Details Textual) - USD ($)	1 Months Ended		9 Months Ended
	Sep. 16, 2015	Aug. 24, 2015	Sep. 30, 2015
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			$ 10,000,000
Line of Credit Facility, Remaining Borrowing Capacity			10,000,000
Debt Issuance Cost			432,000
General Electric Capital Corporation [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Amount Outstanding During Period			10,000,000
Line of Credit Facility, Maximum Borrowing Capacity			15,000,000
Line of Credit Facility, Current Borrowing Capacity			$ 10,000,000
Line of Credit Facility, Interest Rate Description			Borrowings under the Credit Agreement may be made as prime rate loans with an applicable margin of 3.0% per annum or 1, 2, 3 or 6 month LIBOR loans with an applicable margin of 4.0% per annum.
Line of Credit Facility, Interest Rate During Period			4.20%
Availability of Credit, Percentage on Book Value			85.00%
Long-term Line of Credit			$ 0
Line of Credit Facility, Remaining Borrowing Capacity			$ 10,000,000
General Electric Capital Corporation [Member] | Line of Credit [Member]
Line of Credit Facility [Line Items]
Repayments of Debt		$ 3,200,000
General Electric Capital Corporation [Member] | Amended Credit Agreement [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Interest Rate Description	The Credit Agreement was amended on September 16, 2015 to reduce the unused line fee from 0.5% to 0.375%.

Note Payable - Square 1 Bank (D

Note Payable - Square 1 Bank (Details Textual)	12 Months Ended
	Dec. 31, 2014USD ($)
Square 1 Bank Loan [Member]
Note Payable [Line Items]
Write off of Deferred Debt Issuance Cost	$ 42,000

Stock-Based Compensation (Detai

Stock-Based Compensation (Details)	9 Months Ended
	Sep. 30, 2015
Stock Based Compensation [Line Items]
Expected volatility (Minimum)	52.70%
Expected volatility (Maximum)	65.80%
Risk-free rate (Minimum)	0.89%
Risk-free rate (Maximum)	1.20%
Expected dividends	0.00%
Minimum [Member]
Stock Based Compensation [Line Items]
Expected term (in years)	3 years 2 months 12 days
Maximum [Member]
Stock Based Compensation [Line Items]
Expected term (in years)	3 years 3 months 18 days

Stock-Based Compensation (Det43

Stock-Based Compensation (Details 1)	9 Months Ended
	Sep. 30, 2015$ / sharesshares
Stock Based Compensation [Line Items]
Number of Options Outstanding | shares	2,436,834
Weighted Average Exercise Price Outstanding	$ 1.79
Number of Options Issued | shares	927,500
Weighted Average Exercise Price Issued	$ 9.94
Number of Options Exercised | shares	(15,666)
Weighted Average Exercise Price Exercised	$ 1.95
Number of Options Forfeited | shares	(34,500)
Weighted Average Exercise Price Forfeited	$ 6.55
Number of Options Expired | shares	0
Weighted Average Exercise Price Expired	$ 0
Number of Options Outstanding | shares	3,314,168
Weighted Average Exercise Price Outstanding	$ 4.02
Number of Options Exercisable as of Sep 30, 2015 | shares	2,152,499
Weighted Average Exercise Price Exercisable as of Sep 30, 2015	$ 1.19

Stock-Based Compensation (Det44

Stock-Based Compensation (Details 2)	9 Months Ended
	Sep. 30, 2015$ / sharesshares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding, Number of Options | shares	3,314,168
Options Outstanding, Weighted Average Exercise Price	$ 4.02
Options Outstanding, Weighted Average Remaining Contractual Term	7 years 3 months 18 days
Options Exercisable, Number of Options | shares	2,158,499
Options Exercisable, Weighted Average Exercise Price	$ 1.19
Exercise Price Range, One [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding, Number of Options | shares	95,000
Options Outstanding, Weighted Average Exercise Price	$ 0.78
Options Outstanding, Weighted Average Remaining Contractual Term	2 years 3 months 29 days
Options Exercisable, Number of Options | shares	95,000
Options Exercisable, Weighted Average Exercise Price	$ 0.78
Exercise Price Range, One [Member] | Maximum [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding, Weighted Average Exercise Price	1
Options Exercisable, Weighted Average Exercise Price	1
Exercise Price Range, One [Member] | Minimum [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding, Weighted Average Exercise Price	0.76
Options Exercisable, Weighted Average Exercise Price	$ 0.76
Exercise Price Range, Two [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding, Number of Options | shares	1,877,000
Options Outstanding, Weighted Average Exercise Price	$ 1.07
Options Outstanding, Weighted Average Remaining Contractual Term	6 years 4 months 20 days
Options Exercisable, Number of Options | shares	1,857,333
Options Exercisable, Weighted Average Exercise Price	$ 1.07
Exercise Price Range, Two [Member] | Maximum [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding, Weighted Average Exercise Price	1.50
Options Exercisable, Weighted Average Exercise Price	1.50
Exercise Price Range, Two [Member] | Minimum [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding, Weighted Average Exercise Price	1.01
Options Exercisable, Weighted Average Exercise Price	$ 1.01
Exercise Price Range, Three [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding, Number of Options | shares	1,342,168
Options Outstanding, Weighted Average Exercise Price	$ 8.38
Options Outstanding, Weighted Average Remaining Contractual Term	8 years 11 months 5 days
Options Exercisable, Number of Options | shares	206,166
Options Exercisable, Weighted Average Exercise Price	$ 2.45
Exercise Price Range, Three [Member] | Maximum [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding, Weighted Average Exercise Price	10.67
Options Exercisable, Weighted Average Exercise Price	10.67
Exercise Price Range, Three [Member] | Minimum [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding, Weighted Average Exercise Price	1.51
Options Exercisable, Weighted Average Exercise Price	$ 1.51

Stock-Based Compensation (Det45

Stock-Based Compensation (Details 3)	9 Months Ended
	Sep. 30, 2015$ / sharesshares
Stock Based Compensation [Line Items]
Number of Restricted Stock, Non-vested Balance Beginning | shares	108,334
Weighted Average Exercise Price, Non-vested Balance Beginning	$ 2.86
Changes during the period:
Shares granted | shares	32,500
Shares granted - Weighted Average Exercise Price	$ 10.67
Shares vested | shares	(140,834)
Shares vested - Weighted Average Exercise Price	$ 4.66
Shares forfeited | shares	0
Shares forfeited - Weighted Average Exercise Price	$ 0
Number of Restricted Stock, Non-vested Balance Ending | shares	0
Weighted Average Exercise Price, Non-vested Balance Ending	$ 0
Restricted Stock Units (RSUs) [Member]
Stock Based Compensation [Line Items]
Number of Restricted Stock, Non-vested Balance Beginning | shares	0
Weighted Average Exercise Price, Non-vested Balance Beginning	$ 0
Changes during the period:
Shares granted | shares	205,250
Shares granted - Weighted Average Exercise Price	$ 10.67
Shares vested | shares	(32,500)
Shares vested - Weighted Average Exercise Price	$ 10.67
Shares forfeited | shares	0
Shares forfeited - Weighted Average Exercise Price	$ 0
Number of Restricted Stock, Non-vested Balance Ending | shares	172,750
Weighted Average Exercise Price, Non-vested Balance Ending	$ 10.67

Stock-Based Compensation (Det46

Stock-Based Compensation (Details Textual) - USD ($)	Apr. 12, 2010	May. 29, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Stock Based Compensation Details [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross					927,500
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period					34,500
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number			3,314,168		3,314,168		2,436,834
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value					$ 3.83
Director Stock Option Plan - 1999 [Member]
Stock Based Compensation Details [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized			1,975,000		1,975,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross					2,514,798
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period					807,782
Nineteen Ninety Nine Stock Incentive Plan [Member]
Stock Based Compensation Details [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized			3,200,000		3,200,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross					2,892,500
Percent FMV Common Stock Options Granted					100.00%
Plan 2009 [Member]
Stock Based Compensation Details [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized		5,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross					1,506,248
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period					230,420
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized	2,000,000	1,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Number of Shares Per Employee					1,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number			2,739,168		2,739,168
Common Stock, Capital Shares Reserved for Future Issuance			720,086		720,086
Plan 1999 Plan 2009 And Director Plan [Member]
Stock Based Compensation Details [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number			3,314,168		3,314,168
Common Stock, Capital Shares Reserved for Future Issuance			267,984		267,984
Restricted Stock [Member]
Stock Based Compensation Details [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized			$ 1,500,000		$ 1,500,000
Allocated Share-based Compensation Expense			$ 250,000	$ 93,000	$ 498,000	$ 458,000
Restricted Stock [Member] | Plan 2009 [Member]
Stock Based Compensation Details [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number			172,750		172,750
Director Plan And The 2009 Plan [Member]
Stock Based Compensation Details [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value			$ 11,800,000		$ 11,800,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value			11,530,000		11,530,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value					71,975
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized			$ 2,900,000		$ 2,900,000

Stock Warrants (Details)

Stock Warrants (Details) - Warrant [Member] - $ / shares	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Stock Warrants [Abstract]
Beginning balance (in shares)	84,000	354,546
Beginning balance (in dollars per share)	$ 1.21	$ 1.21
Stock warrants granted (in shares)	0	0
Stock warrants granted (in dollars per share)	$ 0	$ 0
Stock warrants expired (in shares)	0	0
Stock warrants expired (in dollars per share)	$ 0	$ 0
Stock warrants exercised (in shares)	0	(270,546)
Stock warrants exercised (in dollars per share)	$ 0	$ 1.21
Ending balance (in shares)	84,000	84,000
Ending balance (in dollars per share)	$ 1.21	$ 1.21

Stock Warrants (Details Textual

Stock Warrants (Details Textual) - $ / shares	Mar. 07, 2014	Dec. 08, 2010
First Placement Agent [Member]
Stock Warrants [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights		338,182
Second Placement Agent [Member]
Stock Warrants [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights		16,364
Warrant Issuedin Connection with Private Placement Offering [Member]
Stock Warrants [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share)		$ 1.21
Stock Warrants Exercised	270,546

Income Taxes (Details Textual)

Income Taxes (Details Textual) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)
Income Tax Examination [Line Items]
Change in Ownership Percent	50.00%
Stockholder Ownership	5.00%
Not Subject to Limitations [Member]
Income Tax Examination [Line Items]
Proceeds From Sale Of Operating Loss Carry forwards	$ 7.8
Subject to Limitations [Member] | Minimum [Member]
Income Tax Examination [Line Items]
Operating Loss Carryforwards	1
Subject to Limitations [Member] | Maximum [Member]
Income Tax Examination [Line Items]
Operating Loss Carryforwards	$ 2.3

2014 Public Offering (Details T

2014 Public Offering (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	Jul. 02, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Jun. 27, 2014
Common stock, par value (in dollars per share)		$ 0.01		$ 0.01
Proceeds from Issuance of Common Stock (in dollars)		$ 0	$ 24,866
Public Offering [Member]
Public Offering, Shares Authorized					4,650,000
Common stock, par value (in dollars per share)					$ 0.01
Share Price (in dollars per share)	$ 5				$ 5
Stock Issued During Period, Shares, New Issues	5,347,500
Proceeds from Issuance of Common Stock (in dollars)	$ 24,900
Public Offering [Member] | Underwriter [Member]
Stock Issued During Period, Shares, New Issues		697,500

Asset Purchase Agreements (Deta

Asset Purchase Agreements (Details Textual) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Mar. 27, 2015	Nov. 18, 2014
Payments to Acquire Other Productive Assets	$ 6	$ 0.5
Business Combination, Contingent Consideration, Liability	3		$ 3
AstraZeneca [Member]
Payments to Acquire Productive Assets			6.9
Valeant [Member]
Payments to Acquire Other Productive Assets			1.5
Payments to Acquire Productive Assets			3.5
Valeant [Member] | Option exercised for Each of Two Additional Products [Member]
Business Combination, Contingent Consideration, Liability	0.8		0.8	$ 1.5
Valeant [Member] | Option exercised for One Additional Products [Member]
Business Combination, Contingent Consideration, Liability	0.5		0.5		$ 0.5
Valeant [Member] | Option exercised for Total Aggregate Additional Products [Member]
Business Combination, Contingent Consideration, Liability	$ 2		$ 2

Subsequent Event (Details Textu

Subsequent Event (Details Textual)	Oct. 05, 2015USD ($)$ / sharesshares	Sep. 30, 2015shares	Oct. 12, 2015CAD
Subsequent Event [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		927,500
Subsequent Event [Member]
Subsequent Event [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net, Total | $	$ 10,000,000
Subsequent Event [Member] | Alveda Pharmaceuticals Inc [Member]
Subsequent Event [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net, Total | CAD			CAD 47,000,000
Chief Scientific Officer [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Salaries, Wages and Officers' Compensation, Total | $	$ 300,000
Chief Scientific Officer [Member] | Subsequent Event [Member] | Common Stock [Member]
Subsequent Event [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	200,000
Share Price | $ / shares	$ 7.42
Chief Scientific Officer [Member] | Subsequent Event [Member] | Restricted Stock Units (RSUs) [Member]
Subsequent Event [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	25,000