Vaxart (VXRT) 10-Q 10 Feb 14 2014 Q2 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	6 Months Ended
	Dec. 31, 2013	Feb. 10, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'Biota Pharmaceuticals, Inc.	'
Document Type	'10-Q	'
Current Fiscal Year End Date	'--06-30	'
Entity Common Stock, Shares Outstanding	'	35,060,911
Amendment Flag	'false	'
Entity Central Index Key	'0000072444	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Filer Category	'Accelerated Filer	'
Entity Well-known Seasoned Issuer	'No	'
Document Period End Date	31-Dec-13	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (Unaudited) (USD $)	Dec. 31, 2013	Jun. 30, 2013
In Millions, unless otherwise specified
Current assets	'	'
Cash and cash equivalents	$51.40	$66.80
Accounts receivable	26.9	11
Prepaid and other current assets	1	2.2
Total current assets	79.3	80
Non-current assets:	'	'
Property and equipment, net	3.1	3.7
Intangible assets, net	0.3	0.6
Total non-current assets	3.4	4.3
Total assets	82.7	84.3
Current liabilities:	'	'
Accounts payable	9.6	4.4
Accrued expenses	6.6	8.4
Accrued severance obligations	2.1	3
Deferred revenue	'	0.3
Total current liabilities	18.3	16.1
Non-current liabilities:	'	'
Other liabilities, net of current portion	0.2	0.2
Total liabilities	18.5	16.3
Stockholders’ equity:	'	'
Common stock, $0.10 par value; 200,000,000 shares authorized 28,363,326 and 28,352,326 shares issued and outstanding at December 31, 2013 and June 30, 2013, respectively	2.8	2.8
Additional paid-in capital	119.6	118.7
Accumulated other comprehensive income	24.6	25.3
Accumulated deficit	-82.8	-78.8
Total stockholders’ equity	64.2	68
Total liabilities and stockholders’ equity	$82.70	$84.30

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) (USD $)	Dec. 31, 2013	Jun. 30, 2013
Common Stock, Par value (in Dollars per share)	$0.10	$0.10
Common Stock, Shares Authorized (in Shares)	200,000,000	200,000,000
Common Stock, Shares Issued (in Shares)	28,363,326	28,352,326
Common stock, shares outstanding (in Shares)	28,363,326	28,352,326

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income (Unaudited) (USD $)	3 Months Ended		6 Months Ended
In Millions, except Share data, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012
Revenue:	'	'	'	'
Royalty revenue and milestones	$6	$1.90	$6	$1.90
Revenue from services	12.4	8.1	24.6	9.4
Other	0.1	0.4	0.2	0.5
Total revenue	18.5	10.4	30.8	11.8
Operating expense:	'	'	'	'
Cost of revenue	11.4	7.1	22.2	8.6
Research and development	4.2	4.6	7.1	9.1
General and administrative	3.1	7.1	5.5	10.3
Foreign exchange (gain) loss	-0.1	-0.6	0.2	-0.5
Total operating expense	18.6	18.2	35	27.5
Loss from operations	-0.1	-7.8	-4.2	-15.7
Non-operating income:	'	'	'	'
Gain recorded on merger	'	7.6	-0.2	7.6
Research and development credit	'	4.4	'	4.4
Interest income	'	0.4	0.1	1
Total non-operating (loss) income	'	12.4	0.1	13
(Loss) income before tax	-0.1	4.6	-4.1	-2.7
Income tax benefit	'	'	0.1	0.1
Net Income (Loss)	-0.1	4.6	-4	-2.6
Basic (loss) income per share (in Dollars per share)	$0	$0.16	($0.14)	($0.09)
Diluted (loss) income per share (in Dollars per share)	$0	$0.16	($0.14)	($0.09)
Basic weighted-average shares outstanding (in Shares)	28,291,665	28,137,346	28,286,404	28,137,346
Diluted weighted-average shares outstanding (in Shares)	28,291,665	28,352,329	28,286,404	28,137,346
Comprehensive (loss) income:	'	'	'	'
Exchange differences on translation of foreign operations, net of tax	-1	-0.3	-0.7	1
Total comprehensive (loss) income	($1.10)	$4.30	($4.70)	($1.60)

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Stockholders’ Equity (Unaudited) (USD $)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Translation Adjustment [Member]	Total
In Millions, except Share data
Balances at July 1, 2013. at Jun. 30, 2013	$2.80	$118.70	($78.80)	$25.30	$68
Balances at July 1, 2013. (in Shares) at Jun. 30, 2013	28,352,326	'	'	'	28,352,326
Exchange differences on translation of foreign operations	'	'	'	-0.7	-0.7
Net loss	'	'	-4	'	-4
Restricted stock units, net (in Shares)	11,000	'	'	'	'
Share-based compensation	'	0.9	'	'	0.9
Balances at December 31, 2013 at Dec. 31, 2013	$2.80	$119.60	($82.80)	$24.60	$64.20
Balances at December 31, 2013 (in Shares) at Dec. 31, 2013	28,363,326	'	'	'	28,363,326

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities:	'	'
Net loss	($4)	($2.60)
Depreciation and amortization	1	1.5
Share-based compensation	0.9	1.9
Deferred income taxes	'	0.4
(Gain) recorded on merger	'	-7.6
Change in operating assets and liabilities (net of liabilities acquired):	'	'
Accounts receivables	-16.7	-5.4
Prepaid expenses and other current assets	1.2	-1.1
Deferred revenue	-0.2	0.4
Accounts payable and accrued expenses	4.2	0.2
Accrued severance obligations	-1	-0.5
Net cash used in operating activities	-14.6	-12.8
Cash acquired on merger	'	32.7
Purchases of property and equipment	-0.1	-0.4
Net cash used in investing activities	-0.1	32.3
Increase (decrease) in cash and cash equivalents	-14.7	19.5
Cash and cash equivalent at beginning of period	66.8	53.8
Effects of exchange rate movements on cash and cash equivalents	-0.7	0.8
Cash and cash equivalents at end of period	$51.40	$74.10

Note_1_Company_Overview

Note 1 - Company Overview	6 Months Ended
	Dec. 31, 2013
Disclosure Text Block [Abstract]	'
Nature of Operations [Text Block]	'
	-1	Company Overview
	Biota Pharmaceuticals, Inc., together with its wholly owned subsidiaries (“Biota”, or the “Company”) is a biopharmaceutical company focused on the discovery and development of products to prevent and treat serious and potentially life-threatening infectious diseases. The Company was incorporated in the state of Delaware in 1969 and its corporate headquarters are located in Alpharetta, Georgia. On November 8, 2012, Nabi Biopharmaceuticals (“Nabi”) merged with Biota Holdings Limited, which was previously listed on the Australian Stock Exchange (ASX:BTA), and the resulting company was renamed to Biota Pharmaceuticals, Inc.
	The Company is currently focused on developing oral, small molecule compounds to treat a number of respiratory-related infections. The most advanced clinical-stage program is laninamivir octanoate, a long-acting neuraminidase inhibitor (“NI”) that the Company is developing for the treatment of influenza A and B. The Company is currently enrolling patients in a multi-national Phase 2 trial for laninamivir octanoate, which the Company refers to as (“IGLOO.”) The Company also has a Phase 2 compound, vapendavir, which is in clinical development for the treatment of human rhinovirus (“HRV”) infections in patients with asthma. In addition to these clinical-stage development programs, the Company is also developing orally bioavailable compounds for the treatment of respiratory syncytial virus (“RSV”) infections in children, the elderly, and immune-compromised patients.
	The Company previously developed zanamivir, a NI that is marketed worldwide by GlaxoSmithKline (“GSK”) as Relenza® for the prevention and treatment of influenza A and B. GSK developed and markets Relenza® pursuant to a royalty-bearing research and license agreement with the Company entered into with GSK in 1990. In 2003, the Company entered into a collaboration and license agreement with Daiichi Sankyo Company, Limited (“Daiichi Sankyo”), under which each party cross-licensed its intellectual property related to second-generation long acting NI’s, including FLUNET and laninamivir octanoate. In 2009, the Company entered into a separate commercialization agreement with Daiichi Sankyo, which provided Daiichi Sankyo an exclusive license to laninamivir octanoate in Japan and entitled the Company to a royalty on net sales of laninamivir octanoate in Japan. In September 2010, laninamivir octanoate was approved for sale by the Japanese Ministry of Health and Welfare for the treatment of influenza A and B in adults and children and, in December 2013, it was approved for the prevention of influenza A and B in Japan. Laninamivir octanoate is marketed in Japan by Daiichi Sankyo as Inavir®. In 2009, the Company filed an Investigational New Drug application (“IND”) with the United States Food and Drug Administration (“FDA”) to develop laninamivir octanoate in the United States. In 2011, the Company was awarded a contract from the U.S. Office of Biomedical Advanced Research and Development Authority (“BARDA”) designed to provide up to $231 million in support of the development of and submission for a new drug application of laninamivir octanoate for the treatment of influenza A and B infections in the United States. In June 2013, the Company initiated a Phase 2 clinical trial of laninamivir octanoate under this IND.
	Although several of the Company’s influenza product candidates have been successfully developed and commercialized by other larger pharmaceutical companies under collaboration, license or commercialization agreements with the Company. The Company has not independently developed or received regulatory approval for any product candidate and the Company does not currently have any sales, marketing or commercial capabilities. Therefore, it is possible that the Company may not successfully derive any significant product revenues from its existing or future development-stage influenza or other product candidates that the Company is developing now, or may develop in the future. The Company expects to incur losses for the foreseeable future as it intends to support the clinical and preclinical development of its product candidates.

Note_2_Basis_of_Presentation

Note 2 - Basis of Presentation	6 Months Ended
	Dec. 31, 2013
Disclosure Text Block [Abstract]	'
Basis of Presentation and Significant Accounting Policies [Text Block]	'
	-2	Basis of Presentation
	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. All material adjustments considered necessary for a fair presentation have been included. Certain information and footnotes disclosure normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to instructions, rules and regulations prescribed by the U.S. Securities and Exchange Commission (“SEC”). Except as disclosed herein, there has been no material change in the information disclosed in the notes to the consolidated financial statements included in the Company’s Annual Report on Form 10-K filed on September 27, 2013.
	The unaudited interim consolidated financial statements include all of its wholly owned subsidiaries. All inter-company transactions and balances have been eliminated in consolidation.
	Operating results for the three and six months periods ended December 31, 2013 are not necessarily indicative of the annual results that may be expected for the entire fiscal year ending June 30, 2014. The year-end condensed consolidated balance sheet data included herein was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. For a more complete discussion of the Company’s significant accounting policies and other information, this report should be read in conjunction with the consolidated financial statements for the year ended June 30, 2013 included in the Company’s Annual Report on Form 10-K that was filed with the SEC on September 27, 2013.
	The Company’s significant accounting policies have not changed since June 30, 2013, except as outlined below:
	Recent Accounting Standards
	In March 2013, the Financial Accounting Standards Board (“FASB”) issued ASU 2013-05, Foreign Currency Matters (Topic 830): Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity (a consensus of the FASB Emerging Issues Task Force), effective prospectively for fiscal years (and interim reporting periods within those years) beginning after December 15, 2013. The Company does not expect adoption will have a material impact on its consolidated financial statements.
	Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force) did not or are not believed by management to have a material impact on the Company’s present or future financial statements.

Note_3_Merger

Note 3 - Merger	6 Months Ended
	Dec. 31, 2013
Business Combinations [Abstract]	'
Business Combination Disclosure [Text Block]	'
	-3	Merger
	Summary
	On April 22, 2012, Nabi and Biota Holdings Limited entered into a merger implementation agreement (the “merger”), which was subsequently amended on August 6, 2012 and further amended on September 17, 2012. On November 8, 2012, Nabi and Biota Holdings Limited completed the merger and pursuant to the terms and subject to the conditions set forth in there in, Biota Holdings Limited became a wholly owned subsidiary of Nabi. Nabi then changed its name to Biota Pharmaceuticals, Inc.
	Reverse Stock Split
	On November 8, 2012, as contemplated by the merger and as approved by Nabi’s stockholders and board of directors, Nabi filed a Certificate of Amendment to its Restated Certificate of Incorporation with the Secretary of State of the State of Delaware to affect a reverse stock split of Nabi’s common stock at a ratio of 1:6. As a result of the reverse stock split, each six shares of Nabi common stock issued and outstanding immediately prior to the reverse stock split were automatically combined into and became one share of Nabi common stock. Also, as a result of the reverse stock split, the per share exercise price of, and the number of shares of common stock underlying, the Company’s outstanding stock options immediately prior to the reverse stock split were automatically proportionally adjusted at a ratio of 1:6 in accordance with the terms of such options. The reverse stock split did not alter the par value or modify any voting rights or other terms of the common stock.
	Merger between Nabi Biopharmaceuticals and Biota Holdings Limited
	Upon the completion of the merger, former Biota Holdings Limited shareholders retained approximately 83% of the Company’s shares of common stock, while former Nabi shareholders retained approximately 17% as consideration for Nabi’s net assets, the vast majority of which was $27.0 million in net cash on hand on the closing date of the transaction. As Nabi had minimal ongoing activity with respect to its development programs and related operations at the time of the merger, the Company’s future operations are largely represented by the operations of Biota Holdings Limited. Further, due to the fact that former Biota Holdings Limited shareholders held a significant majority of the voting interest in the Company upon the completion of the merger, the merger has been accounted for as a “reverse merger”, such that, notwithstanding the fact that Nabi was the legal acquirer, Biota Holdings Limited is considered the accounting acquirer for financial reporting purposes. Accordingly, the financial statements of Biota Holdings Limited are treated as the historical financial statements of the Company, with the operating results of Nabi being included from November 8, 2012. As a result of the merger, historical common stock amounts and additional paid-in capital have been adjusted.
	Exchange Ratio
	Upon completion of the merger, each outstanding share of Biota Holdings Limited common stock converted into the right to receive 0.1249539870 shares of Nabi common stock as determined by the exchange ratio as calculated pursuant to the terms of the merger, as amended. The issued share capital upon completion of the merger was comprised of the following:
			No. of
			Shares
	Ex-Nabi stockholders			4,720,999
	Ex-Biota Holdings Limited stockholders			23,416,347
	Total			28,137,346
	Purchase Consideration and Net Assets Acquired
	The purchase consideration in a reverse merger is determined with reference to the value of consideration, in this case equity, that which the accounting acquirer (in this case Biota Holdings Limited,) issues to the stockholders of the accounting acquiree (Nabi) to provide them their interest in the combined entity. Further, as a result of the merger, stock options to purchase an aggregate of 0.5 million shares of Nabi common stock that were held by officers and directors of Nabi immediately vested. The fair values of Nabi’s outstanding stock options were determined using the Black-Scholes option pricing model with the following assumptions: a strike price range of $11.34 – $99.91; a volatility range between 78.79% – 99.62%; a risk-free interest rate range of 0.12% – 0.87%; and an expected life range of 0.3 – 6.1 years.
	The purchase consideration, based on the price per share of the Company’s common stock as of the date of the merger, is as follows:
	Number of shares issued to Nabi stockholders			4,720,999
	Fair value per share, using the volume weighted share price on November 9, 2012		$	4.0168
	Implied purchase consideration (in millions)		$	19
	Number of stock options outstanding to former Nabi employees			508,918
	Fair value per option		$	0.456
	Implied purchase consideration (in millions)		$	0.2
	Total implied purchase consideration (in millions)		$	19.2
	The net assets acquired as a result of the merger consist of (in millions):
	Cash		$	32.7
	Severance obligations and other expenses			(5.2	)
	Accounts payable			(0.7	)
	Net cash received		$	26.8
	Excess of net assets acquired over total fair value purchase consideration/gain recorded on merger		$	7.6
	Due to the significant uncertainty associated with Nabi’s future cash flows from its drug development programs, no purchase consideration has been allocated to the residual value of any of Nabi’s drug development programs, or the potential royalty of Phoslyra, that was sold to a third party in 2006.
	Pursuant to the merger, Biota Holdings Limited received net cash of $27.0 million from Nabi, while Nabi stockholders received a proportion of the combined entity based on the Biota Holdings Limited share price upon completion of the merger. Movements in the Biota Holdings Limited share price and the U.S. and Australian dollar exchange rates between the date of the determination of the exchange ratio and the date of the completion of the merger, coupled with changes in the fair value of certain assets and liabilities, resulted in the net assets acquired exceeding the calculated purchase consideration. The resulting net gain of $7.8 million recorded on the completion of the merger in November 2012 and was recognized as other income in the consolidated statements of operations in the prior year. During the quarter, the Company recorded an additional net loss of $0.2 million based on additional factors that occurred in the quarter related to the purchase, resulting in a total net gain of $7.6 million. This was treated as a measurement period adjustment and the Company retroactively adjusted the opening balance sheet as prescribed in ASC 805. As a result this $0.2 million net loss was recognized in the gain recorded from the merger in the consolidated statements of operations in the three and six months ended December 31, 2012.

Note_4_Net_Loss_Per_Share

Note 4 - Net Loss Per Share	6 Months Ended
	Dec. 31, 2013
Earnings Per Share [Abstract]	'
Earnings Per Share [Text Block]	'
	-4	Net Loss per share
	Basic and diluted loss per share has been computed based on net income (loss) and the weighted-average number of common shares outstanding during the applicable period. For diluted net loss per share, common stock equivalents (shares of common stock issuable upon the exercise of stock options and unvested restricted stock units) are excluded from the calculation of diluted net loss per share as their inclusion would be anti-dilutive. The Company has excluded all antidilutive share-based awards to purchase common stock in periods indicating a loss, as their effect is anti-dilutive.
	The following table sets forth the computation of historical basic and diluted net loss per share.
			Three Months Ended
			December 31,
			2013			2012
	Net (loss) income (in millions)		$	(0.1	)	$	4.6
	Weighted-average shares outstanding			28,291,665			28,137,346
	Weighted- average shares outstanding adjusted using exchange ratio used to compute basic earnings per share			-			28,137,346
	Dilutive effect of restricted stock and stock options			-			214,983
	Shares used to compute diluted earnings per share			28,291,665			28,352,329
	Basic loss per share		$	(0.00	)	$	0.16
	Diluted loss per share		$	(0.00	)	$	0.16
	Number of antidilutive share-based awards excluded from computation			2,538,263			1,638,512
			Six Months Ended
			December 31,
			2013			2012
	Net loss (in millions)		$	(4.0	)	$	(2.6	)
	Weighted-average shares outstanding			28,286,404			28,137,346
	Weighted- average shares outstanding adjusted using exchange ratio used to compute basic earnings per share			-			28,137,346
	Dilutive effect of restricted stock and stock options			-			-
	Shares used to compute diluted earnings per share			28,286,404			28,137,346
	Basic and diluted loss per share		$	(0.14	)	$	(0.09	)
	Number of antidilutive share-based awards excluded from computation			2,538,263			1,638,512

Note_5_Licences_Royalty_Collab

Note 5 - Licences, Royalty Collaborative and Contractual Arrangements	6 Months Ended
	Dec. 31, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Collaborative Arrangement Disclosure [Text Block]	'
	-5	Licenses, Royalty Collaborative and Contractual Arrangements
	Royalty agreements
	The Company entered into a royalty-bearing research and license agreement with GSK in 1990 for the development and commercialization of zanamivir, a NI currently marketed by GSK as Relenza® to treat influenza. Under the terms of the agreement, the Company licensed zanamivir to GSK on an exclusive, worldwide basis and is entitled to receive royalty payments of 7% of GSK's annual net sales of Relenza® in the U.S., Europe, Japan and certain other countries as well as 10% of GSK's annual net sales of Relenza® in Australia, New Zealand, South Africa and Indonesia. Beginning in 2014, the patents on Relenza® are scheduled to expire in certain countries, including the United States and are scheduled to fully expire in 2019.
	The Company entered into a collaboration and license agreement with Daiichi Sankyo in 2003 related to the development of second generation long acting NI’s, including laninamivir octanoate. Under the collaboration and license agreement, the Company and Daiichi Sankyo cross-licensed the right to develop, make, use, sell or offer for sale, or import products based on the parties respective intellectual property related to their long acting NI’s. A primary focus of the agreement was for the parties to collectively seek third-party licensees that would develop and commercialize the related long-acting NI’s on a worldwide basis. In the event that the related intellectual property was out-licensed to a third party, the Company and Daiichi Sankyo agreed to share equally in any future royalties, license fees, milestones or other payments received from such a licensee. Further, although it was the intention of the parties to seek a third-party licensee or licensees worldwide, the parties retained the right to market or co-market related products in the U.S. and other markets outside of Japan, and any sales made by either party in the U.S. would result in the selling party paying the other party a royalty rate that was half of the royalty rate paid by any other third-party licensee. To date, there have been no third-party licenses granted pursuant to this agreement, and therefore, a royalty rate on net sales outside of Japan has not been established under the 2003 agreement.
	In March 2009, the Company entered into a commercialization agreement with Daiichi Sankyo, pursuant to which Daiichi Sankyo obtained exclusive marketing rights in Japan for the long acting NI’s, including laninamivir octanoate, covered by the 2003 collaboration and license agreement between the parties. In consideration for these rights, Daiichi Sankyo agreed to pay the Company a royalty rate equal to 4% or potentially higher in certain circumstances, on net sales in Japan. In September 2010, laninamivir octanoate (Inavir®) was approved for sale by the Japanese Ministry of Health and Welfare for the treatment of influenza in adults and children. In December 2013, Daiichi Sankyo was granted regulatory approval in Japan to manufacture and market Inavir® for the prevention of influenza A and B. Accordingly, under this agreement the Company currently receives a 4% royalty on net sales of Inavir® in Japan and is eligible to earn additional sales milestone payments. Patents on laninamivir octanoate in Japan generally expire in 2024.
	Collaborative and contract arrangements
	In March 2011, the Company’s wholly owned subsidiary, Biota Scientific Management Pty Ltd., was awarded a contract by BARDA for the late-stage development of laninamivir octanoate on a cost-plus-fixed-fee basis, the total of which is not to exceed $231.2 million. BARDA is part of the U.S. Office of the Assistant Secretary for Preparedness and Response ("ASPR") within the U.S. Department of Health and Human Services ("HHS"). The BARDA contract is designed to fund and provide the Company with all technical and clinical data and U.S. based manufacturing to support the filing of a U.S. new drug application (“NDA”) with the FDA for laninamivir octanoate. The performance period of the BARDA contract commenced on March 31, 2011, and continues for five years.
	The Company is considered an active participant in the BARDA contract, with exposure to significant risks and rewards of commercialization relating to the development of laninamivir octanoate. Therefore, revenues from and costs associated with the contract are recorded and recognized on a gross basis in the consolidated statement of operations. Revenue totaling $51.0 million has been recognized to-date pursuant to this contract.
	Changes in government policies, priorities or funding levels through agency or program budget reductions by the U.S. Congress or other executive agencies could materially adversely affect the Company’s financial condition or results of operations if such changes negatively impacted its contract with BARDA. Furthermore, contracts with the U.S. government may be terminated or suspended by the U.S. government at any time, with or without cause. Such contract suspensions or terminations could result in expenses or charges not being reimbursed by BARDA, or otherwise adversely affect the Company’s financial condition and/or results of operations.
	The following tables summarize the key components of the Company’s revenues from Licenses, Royalty Collaborative and Contractual Arrangements (in millions):
			Three Months Ended
			31-Dec
			(in millions)
			2013		2012
	Royalty revenue– Relenza®		$	5.4	$	1
	– Inavir®			0.6		0.9
	Revenue from services			12.4		8.1
	Other			0.1		0.4
	Total revenue		$	18.5	$	10.4
			Six Months Ended
			31-Dec
			(in millions)
			2013		2012
	Royalty revenue– Relenza®		$	5.4	$	1
	– Inavir®			0.6		0.9
	Revenue from services			24.6		9.4
	Other			0.2		0.5
	Total revenue		$	30.8	$	11.8

Note_6_Sharebased_Compensation

Note 6 - Share-based Compensation	6 Months Ended
	Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	'
	-6	Share-based Compensation
	For the three months ended December 31, 2013 and 2012, the Company recorded share-based compensation expense related to grants from equity and incentive plans of $0.5 million and $0.4 million, respectively, or $0.02 and $0.01 basic and fully diluted per share. For the six months ended December 31, 2013 and 2012, the Company recorded share-based compensation expense of $0.9 million and $1.9 million, respectively, or $0.03 and $0.07 basic and fully diluted per share. No income tax benefit was recognized in the statements of operations and no share-based compensation expense was capitalized as part of any assets for the three and six months ended December 31, 2013 and 2012.
	Stock Options
	The fair value of each stock option award was estimated at its respective date of grant using the Black-Scholes method with the following assumptions:
			Three Months Ended						Six Months Ended
			December 31,						December 31,
			2013			2012			2013			2012
	Weighted average risk-free interest rate			1.4			0.65	%		1.4	%		0.65	%
	Dividend yield			—			—			—			—
	Expected weighted average volatility			0.78			0.84			0.78			0.84
	Expected weighted average life of options (years)			6			5			6			5
	Weighted average fair value of options granted			2.78		$	2.72		$	2.75		$	2.72
	The risk-free rate interest rate is based on the expected life of the option and the corresponding United States (“U.S.”) Treasury bond, which in most cases is the U.S. five year Treasury bond. The expected term of stock options granted is derived from actual and expected option behavior and represents the period of time that options granted are expected to be outstanding. The Company uses historical data to estimate option exercise patterns and future employee terminations to determine expected life and forfeitures. Expected volatility is based on the historical volatility of the Company’s publicly traded common stock.
			Number of			Weighted Average			Weighted-Average			Aggregate Intrinsic
			Stock Options			Exercise Price			Remaining Contractual			Value
						Per Option			Term			$0
	Balance at June 30, 2013			1,658,529		$	13.57
	Granted (1)			602,725			4.15
	Exercised			—			—
	Forfeited or expired			—			—
	Balance at December 31, 2013			2,261,254		$	11.06			7.1		$	0.2
	(1) Includes performance-based options of 427,725, subject to specific performance conditions.
	Performance-based stock options granted during the six month period ending December 31, 2013 were 427,725 with an exercise price of $4.13, resulting in total unrecognized share-based compensation expense of $1.0 million. Vesting is contingent upon meeting specific performance goals with respect to laninamivir octanoate. As of December 31, 2013, no share-based compensation expense related to performance-based options has been recognized as it is not probable that the performance condition will be achieved. The Company will evaluate the probability of achieving these performance goals quarterly, and if the Company determines that it is probable that a performance goal will occur, the effect of the change in estimate will be accounted in the period of change by recording a cumulative catch-up adjustment to retroactively apply the new estimate. As of December 31, 2013, all performance-based options are unvested and expires six-years from the grant date or will be forfeited upon not achieving performance goals.
	The total intrinsic value of stock options exercised during the six month period ended December 31, 2013 was zero, and no cash proceeds were received. No actual tax benefits were realized as the Company currently records a full valuation allowance for all tax benefits due to uncertainties with respect to the Company’s ability to generate sufficient taxable income in the future.
	The following tables summarize information relating to outstanding and exercisable options as of December 31, 2013:
						31-Dec-13
						Outstanding
									Weighted Average						Exercisable
	Exercise Prices					Number of			Remaining			Weighted Average			Number of		Weighted Average
						Shares			Contractual Life			Exercise Price			Shares		Exercise Price
									(In Years)
		$3.14	—	$4.05			245,000			9.33		$	3.92			—	$	—
			$4.07				931,590			8.87			4.07			310,531		4.07
		$4.13	—	$4.24			592,725			7.02			4.16			—		—
		$11.22	—	$99.94			491,939			2.73			36.17			491,939		36.17
							2,261,254			7.1		$	11.06			802,470	$	23.75
	Restricted Stock Awards. A summary of the Company’s outstanding restricted stock awards as of December 31, 2013 is as follows:
	Restricted Stock		Shares			Weighted-Average
						Grant Date
						Fair Value
	Outstanding at June 30, 2013			—		$	—
	Granted			44,750			3.98
	Released			(11,000	)		4.19
	Forfeited			—			—
	Outstanding at December 31, 2013			33,750		$	3.92
	Market Stock Units (MSUs)
	MSUs awarded to employees vest on January 1, 2017. The vesting of these awards is subject to the respective employee’s continued employment through this settlement period. The number of MSUs granted represents the target number of units that are eligible to be earned based on the attainment of certain market-based criteria involving our stock price. The number of MSUs actually earned is calculated upon the vesting of the award. Participants may ultimately earn between 0% and 250% of the target number of units granted based on actual stock performance. Accordingly, additional MSUs may be issued or currently outstanding MSUs may be cancelled upon final determination of the number of awards earned. Compensation expense, including the effect of forfeitures, is recognized over the applicable service period.
	The following table summarizes the Company’s MSU activity:
			Shares			Weighted
						Average
						Grant
						Date
						Fair
						Value
	Unvested at June 30, 2013			—		$	—
	Granted			106,870		$	7.69
	Vested			—		$	—
	Forfeited			—		$	—
	Unvested at December 31, 2013			106,870		$	7.69
	We value grants of MSUs using a lattice model with a Monte Carlo simulation. This valuation methodology utilizes several key assumptions, including the 20 day average closing stock price on the grant date, expected volatility of the Company’s stock price, risk-free rates of return and expected dividend yield. The assumptions used in the Company’s valuation of the MSU’s are summarized as follows:
			For the Periods Ended December 31,
			2013			2012
	Expected dividend yield			0%			—
Expected stock price volatility			0.86			—
Risk-free interest rate			0.64%			—
20 day trading average stock price on grant date			$3.98			—
Weighted-average per share grant date fair value			$7.69			—
As of December 31, 2013 there was $4.6 million of unrecognized share-based compensation expense related to all unvested awards (stock options, restricted stock and MSU’s), not discounted for future forfeitures. This balance is expected to be recognized over a weighted-average period of 2.1 years.

Note_7_Subsequent_Event

Note 7 - Subsequent Event	6 Months Ended
	Dec. 31, 2013
Subsequent Events [Abstract]	'
Subsequent Events [Text Block]	'
	-7	Subsequent Event
	Public Offering. In January 2014, the Company closed a public offering in which it sold approximately 6.7 million shares of its common stock, at a purchase price of $4.30 per share. The net proceeds to the Company from the sale of the shares, including the overallotment, after underwriting discounts and commissions and other offering expenses, were approximately $26.9 million. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes.

Accounting_Policies_by_Policy_

Accounting Policies, by Policy (Policies)	6 Months Ended
	Dec. 31, 2013
Accounting Policies [Abstract]	'
Basis of Accounting, Policy [Policy Text Block]	'
	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. All material adjustments considered necessary for a fair presentation have been included. Certain information and footnotes disclosure normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to instructions, rules and regulations prescribed by the U.S. Securities and Exchange Commission (“SEC”). Except as disclosed herein, there has been no material change in the information disclosed in the notes to the consolidated financial statements included in the Company’s Annual Report on Form 10-K filed on September 27, 2013.
	The unaudited interim consolidated financial statements include all of its wholly owned subsidiaries. All inter-company transactions and balances have been eliminated in consolidation.
	Operating results for the three and six months periods ended December 31, 2013 are not necessarily indicative of the annual results that may be expected for the entire fiscal year ending June 30, 2014. The year-end condensed consolidated balance sheet data included herein was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. For a more complete discussion of the Company’s significant accounting policies and other information, this report should be read in conjunction with the consolidated financial statements for the year ended June 30, 2013 included in the Company’s Annual Report on Form 10-K that was filed with the SEC on September 27, 2013.
	The Company’s significant accounting policies have not changed since June 30, 2013, except as outlined below:
New Accounting Pronouncements, Policy [Policy Text Block]	'
	Recent Accounting Standards
	In March 2013, the Financial Accounting Standards Board (“FASB”) issued ASU 2013-05, Foreign Currency Matters (Topic 830): Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity (a consensus of the FASB Emerging Issues Task Force), effective prospectively for fiscal years (and interim reporting periods within those years) beginning after December 15, 2013. The Company does not expect adoption will have a material impact on its consolidated financial statements.

Note_3_Merger_Tables

Note 3 - Merger (Tables)	6 Months Ended
	Dec. 31, 2013
Business Combinations [Abstract]	'
Schedule of Stockholders Equity [Table Text Block]	'
		No. of
		Shares
	Ex-Nabi stockholders		4,720,999
	Ex-Biota Holdings Limited stockholders		23,416,347
	Total		28,137,346
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	'
	Number of shares issued to Nabi stockholders		4,720,999
	Fair value per share, using the volume weighted share price on November 9, 2012	$	4.0168
	Implied purchase consideration (in millions)	$	19
	Number of stock options outstanding to former Nabi employees		508,918
	Fair value per option	$	0.456
	Implied purchase consideration (in millions)	$	0.2
	Total implied purchase consideration (in millions)	$	19.2
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	'
	Cash	$	32.7
	Severance obligations and other expenses		(5.2	)
	Accounts payable		(0.7	)
	Net cash received	$	26.8
	Excess of net assets acquired over total fair value purchase consideration/gain recorded on merger	$	7.6

Note_4_Net_Loss_Per_Share_Tabl

Note 4 - Net Loss Per Share (Tables)	6 Months Ended
	Dec. 31, 2013
Earnings Per Share [Abstract]	'
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	'
		Three Months Ended
		December 31,
		2013			2012
	Net (loss) income (in millions)	$	(0.1	)	$	4.6
	Weighted-average shares outstanding		28,291,665			28,137,346
	Weighted- average shares outstanding adjusted using exchange ratio used to compute basic earnings per share		-			28,137,346
	Dilutive effect of restricted stock and stock options		-			214,983
	Shares used to compute diluted earnings per share		28,291,665			28,352,329
	Basic loss per share	$	(0.00	)	$	0.16
	Diluted loss per share	$	(0.00	)	$	0.16
	Number of antidilutive share-based awards excluded from computation		2,538,263			1,638,512
		Six Months Ended
		December 31,
		2013			2012
	Net loss (in millions)	$	(4.0	)	$	(2.6	)
	Weighted-average shares outstanding		28,286,404			28,137,346
	Weighted- average shares outstanding adjusted using exchange ratio used to compute basic earnings per share		-			28,137,346
	Dilutive effect of restricted stock and stock options		-			-
	Shares used to compute diluted earnings per share		28,286,404			28,137,346
	Basic and diluted loss per share	$	(0.14	)	$	(0.09	)
	Number of antidilutive share-based awards excluded from computation		2,538,263			1,638,512

Note_5_Licences_Royalty_Collab1

Note 5 - Licences, Royalty Collaborative and Contractual Arrangements (Tables)	6 Months Ended
	Dec. 31, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Schedule of Segment Reporting Information, by Segment [Table Text Block]	'
		Three Months Ended
		31-Dec
		(in millions)
		2013		2012
	Royalty revenue– Relenza®	$	5.4	$	1
	– Inavir®		0.6		0.9
	Revenue from services		12.4		8.1
	Other		0.1		0.4
	Total revenue	$	18.5	$	10.4
		Six Months Ended
		31-Dec
		(in millions)
		2013		2012
	Royalty revenue– Relenza®	$	5.4	$	1
	– Inavir®		0.6		0.9
	Revenue from services		24.6		9.4
	Other		0.2		0.5
	Total revenue	$	30.8	$	11.8

Note_6_Sharebased_Compensation1

Note 6 - Share-based Compensation (Tables)	6 Months Ended
	Dec. 31, 2013
Note 6 - Share-based Compensation (Tables) [Line Items]	'
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	'
			Three Months Ended						Six Months Ended
			December 31,						December 31,
			2013			2012			2013			2012
	Weighted average risk-free interest rate			1.4			0.65	%		1.4	%		0.65	%
	Dividend yield			—			—			—			—
	Expected weighted average volatility			0.78			0.84			0.78			0.84
	Expected weighted average life of options (years)			6			5			6			5
	Weighted average fair value of options granted			2.78		$	2.72		$	2.75		$	2.72
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	'
			Number of			Weighted Average			Weighted-Average			Aggregate Intrinsic
			Stock Options			Exercise Price			Remaining Contractual			Value
						Per Option			Term			$0
	Balance at June 30, 2013			1,658,529		$	13.57
	Granted (1)			602,725			4.15
	Exercised			—			—
	Forfeited or expired			—			—
	Balance at December 31, 2013			2,261,254		$	11.06			7.1		$	0.2
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]	'
						31-Dec-13
						Outstanding
									Weighted Average						Exercisable
	Exercise Prices					Number of			Remaining			Weighted Average			Number of		Weighted Average
						Shares			Contractual Life			Exercise Price			Shares		Exercise Price
									(In Years)
		$3.14	—	$4.05			245,000			9.33		$	3.92			—	$	—
			$4.07				931,590			8.87			4.07			310,531		4.07
		$4.13	—	$4.24			592,725			7.02			4.16			—		—
		$11.22	—	$99.94			491,939			2.73			36.17			491,939		36.17
							2,261,254			7.1		$	11.06			802,470	$	23.75
Nonvested Restricted Stock Shares Activity [Table Text Block]	'
	Restricted Stock		Shares			Weighted-Average
						Grant Date
						Fair Value
	Outstanding at June 30, 2013			—		$	—
	Granted			44,750			3.98
	Released			(11,000	)		4.19
	Forfeited			—			—
	Outstanding at December 31, 2013			33,750		$	3.92
Schedule of Nonvested Performance-based Units Activity [Table Text Block]	'
			Shares			Weighted
						Average
						Grant
						Date
						Fair
						Value
	Unvested at June 30, 2013			—		$	—
	Granted			106,870		$	7.69
	Vested			—		$	—
	Forfeited			—		$	—
	Unvested at December 31, 2013			106,870		$	7.69
MSU [Member]	'
Note 6 - Share-based Compensation (Tables) [Line Items]	'
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	'
			For the Periods Ended December 31,
			2013			2012
	Expected dividend yield			0%			—
	Expected stock price volatility			0.86			—
	Risk-free interest rate			0.64%			—
	20 day trading average stock price on grant date			$3.98			—
	Weighted-average per share grant date fair value			$7.69			—

Note_1_Company_Overview_Detail

Note 1 - Company Overview (Details) (USD $)	1 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2011
Note 1 - Company Overview (Details) [Line Items]	'
Contracts Revenue (in Dollars)	$231.20
BARDA	'
Note 1 - Company Overview (Details) [Line Items]	'
Contracts Revenue (in Dollars)	$231

Note_3_Merger_Details

Note 3 - Merger (Details) (USD $)	0 Months Ended	3 Months Ended		6 Months Ended
In Millions, except Share data, unless otherwise specified	Nov. 08, 2012	Dec. 31, 2012	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012
Note 3 - Merger (Details) [Line Items]	'	'	'	'	'
Stockholders' Equity Note, Stock Split, Conversion Ratio	6	'	'	'	'
Net closing cash balance (in Dollars)	$27	'	'	'	'
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares)	0.124953987	'	'	'	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options (in Shares)	500,000	'	'	802,470	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price (in Dollars per share)	'	'	'	$23.75	'
Business Combination, Bargain Purchase, Gain Recognized, Amount (in Dollars)	7.8	'	'	'	'
Loss Gain Recorded On Merger (in Dollars)	'	7.6	0.2	-0.2	7.6
Business Combination, Bargain Purchase, Gain Recognized, Net Amount (in Dollars)	'	'	$7.60	'	'
Biota Holdings Limited	'	'	'	'	'
Note 3 - Merger (Details) [Line Items]	'	'	'	'	'
Ownership Percentage	83.00%	'	'	'	'
Nabi	'	'	'	'	'
Note 3 - Merger (Details) [Line Items]	'	'	'	'	'
Ownership Percentage	17.00%	'	'	'	'
Nabi | Minimum [Member]	'	'	'	'	'
Note 3 - Merger (Details) [Line Items]	'	'	'	'	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price (in Dollars per share)	$11.34	'	'	'	'
Fair Value Assumptions, Expected Volatility Rate	78.79%	'	'	'	'
Fair Value Assumptions, Risk Free Interest Rate	0.12%	'	'	'	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Remaining Contractual Term	'109 days	'	'	'	'
Nabi | Maximum [Member]	'	'	'	'	'
Note 3 - Merger (Details) [Line Items]	'	'	'	'	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Exercise Price (in Dollars per share)	$99.91	'	'	'	'
Fair Value Assumptions, Expected Volatility Rate	99.62%	'	'	'	'
Fair Value Assumptions, Risk Free Interest Rate	0.87%	'	'	'	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Remaining Contractual Term	'6 years 36 days	'	'	'	'

Note_3_Merger_Details_Issued_S

Note 3 - Merger (Details) - Issued Share Capital	Nov. 08, 2012
No. of Shares	'
Number of Shares on Issue	28,137,346
Nabi	'
No. of Shares	'
Number of Shares on Issue	4,720,999
Biota Holdings Limited	'
No. of Shares	'
Number of Shares on Issue	23,416,347

Note_3_Merger_Details_Fair_Val

Note 3 - Merger (Details) - Fair Value Purchase Consideration (USD $)	3 Months Ended		6 Months Ended				0 Months Ended
In Millions, except Share data, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Nov. 08, 2012	Nov. 08, 2012	Nov. 08, 2012
					Employee Stock Option [Member]	Nabi	Nabi
					Nabi	Stock Shares
Business Acquisition [Line Items]	'	'	'	'	'	'	'
Number of shares issued to Nabi stockholders (in Shares)	'	'	'	'	'	'	4,720,999
Fair value per share, using the volume weighted share price on November 9, 2012 (in Dollars per share)	'	'	'	'	'	'	$4.02
Fair Value Purchase Consideration	'	'	'	'	$0.20	$19	$19.20
Number of stock options outstanding to former Nabi employees (in Shares)	2,261,254	'	2,261,254	'	'	'	508,918
Fair value per option (in Dollars per share)	$2.78	$2.72	$2.75	$2.72	'	'	$0.46

Note_3_Merger_Details_Net_Asse

Note 3 - Merger (Details) - Net Assets Acquired (USD $)	6 Months Ended		0 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2012	Nov. 08, 2012	Nov. 08, 2012
		Biota	Biota
		Accrual for Severance Obligations and Employee Benefits [Member]
Note 3 - Merger (Details) - Net Assets Acquired [Line Items]	'	'	'
Cash	$32.70	'	$32.70
Accounts payable	'	-5.2	-0.7
Net cash received	'	'	26.8
Excess of net assets acquired over total fair value purchase consideration/gain recorded on merger	'	'	$7.60

Note_4_Net_Loss_Per_Share_Deta

Note 4 - Net Loss Per Share (Details) - Computation of Historical Basic and Diluted Net Income (Loss) Per Share (USD $)	3 Months Ended		6 Months Ended
In Millions, except Share data, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012
Note 4 - Net Loss Per Share (Details) - Computation of Historical Basic and Diluted Net Income (Loss) Per Share [Line Items]	'	'	'	'
Net income (loss) (in Dollars)	($0.10)	$4.60	($4)	($2.60)
Weighted-average shares outstanding	28,291,665	28,137,346	28,286,404	28,137,346
Shares used to compute diluted earnings per share	28,291,665	28,352,329	28,286,404	28,137,346
Basic loss per share (in Dollars per share)	$0	$0.16	($0.14)	($0.09)
Diluted loss per share (in Dollars per share)	$0	$0.16	($0.14)	($0.09)
Number of antidilutive share-based awards excluded from computation	'	'	2,538,263	1,638,512
Prior to Adjustments [Member]	'	'	'	'
Note 4 - Net Loss Per Share (Details) - Computation of Historical Basic and Diluted Net Income (Loss) Per Share [Line Items]	'	'	'	'
Weighted-average shares outstanding	'	'	28,286,404	28,137,346
Prior to Adjustments [Member] | Three Months Ended [Member]	'	'	'	'
Note 4 - Net Loss Per Share (Details) - Computation of Historical Basic and Diluted Net Income (Loss) Per Share [Line Items]	'	'	'	'
Weighted-average shares outstanding	'	'	28,291,665	28,137,346
Adjusted Using Exchange Ratio [Member]	'	'	'	'
Note 4 - Net Loss Per Share (Details) - Computation of Historical Basic and Diluted Net Income (Loss) Per Share [Line Items]	'	'	'	'
Basic and diluted loss per share (in Dollars per share)	'	'	($0.14)	($0.09)
Adjusted Using Exchange Ratio [Member] | Three Months Ended [Member]	'	'	'	'
Note 4 - Net Loss Per Share (Details) - Computation of Historical Basic and Diluted Net Income (Loss) Per Share [Line Items]	'	'	'	'
Weighted-average shares outstanding	'	'	'	28,137,346
Basic loss per share (in Dollars per share)	'	'	$0	$0.16
Diluted loss per share (in Dollars per share)	'	'	$0	$0.16
Three Months Ended [Member]	'	'	'	'
Note 4 - Net Loss Per Share (Details) - Computation of Historical Basic and Diluted Net Income (Loss) Per Share [Line Items]	'	'	'	'
Net income (loss) (in Dollars)	'	'	($0.10)	$4.60
Dilutive effect of restricted stock and stock options	'	'	'	214,983
Shares used to compute diluted earnings per share	'	'	28,291,665	28,352,329
Number of antidilutive share-based awards excluded from computation	'	'	2,538,263	1,638,512

Note_5_Licences_Royalty_Collab2

Note 5 - Licences, Royalty Collaborative and Contractual Arrangements (Details) (USD $)	1 Months Ended	18 Months Ended			1 Months Ended	33 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2011	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Mar. 31, 2011	Dec. 31, 2013
		GSK	GSK	Daiichi Sankyo	BARDA	BARDA
		Major Countries	Australia, New Zealand, South Africa and Indonesia
Note 5 - Licences, Royalty Collaborative and Contractual Arrangements (Details) [Line Items]	'	'	'	'	'	'
Royalty Payment Percentage	'	7.00%	10.00%	4.00%	'	'
Contracts Revenue (in Dollars)	$231.20	'	'	'	'	$51
Contract Term	'	'	'	'	'5 years	'

Note_5_Licences_Royalty_Collab3

Note 5 - Licences, Royalty Collaborative and Contractual Arrangements (Details) - Components of Revenues from Royalties, Collaborative and Contractual Agreements (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012
Segment Reporting Information [Line Items]	'	'	'	'
Royalty Revenue	$6	$1.90	$6	$1.90
Revenue from services	12.4	8.1	24.6	9.4
Other	0.1	0.4	0.2	0.5
Total revenue	18.5	10.4	30.8	11.8
Relenza [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Royalty Revenue	5.4	1	5.4	1
Inavir [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Royalty Revenue	$0.60	$0.90	$0.60	$0.90

Note_6_Sharebased_Compensation2

Note 6 - Share-based Compensation (Details) (USD $)	3 Months Ended		6 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013		Dec. 31, 2012
Note 6 - Share-based Compensation (Details) [Line Items]	'	'	'		'
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense	$0	$0	$0		$0
Amount of Share-based Compensation Expense Capitalized	0	0	0		0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares)	'	'	602,725	[1]	'
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share)	'	'	$4.15	[1]	'
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	4,600,000	'	4,600,000		'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	'	'	0		'
Proceeds from Stock Options Exercised	'	'	0		'
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	'	'	'2 years 36 days		'
Performance Shares [Member]	'	'	'		'
Note 6 - Share-based Compensation (Details) [Line Items]	'	'	'		'
Allocated Share-based Compensation Expense	'	'	0		'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares)	'	'	427,725		'
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share)	'	'	$4.13		'
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	1,000,000	'	1,000,000		'
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	'	'	'6 years		'
MSU [Member] | Minimum [Member]	'	'	'		'
Note 6 - Share-based Compensation (Details) [Line Items]	'	'	'		'
Percentage of the Target Number of Units Granted Earned Based on Stock Performance	'	'	0.00%		'
MSU [Member] | Maximum [Member]	'	'	'		'
Note 6 - Share-based Compensation (Details) [Line Items]	'	'	'		'
Percentage of the Target Number of Units Granted Earned Based on Stock Performance	'	'	250.00%		'
The 2007 Omnibus Equity and Incentive Plan [Member]	'	'	'		'
Note 6 - Share-based Compensation (Details) [Line Items]	'	'	'		'
Allocated Share-based Compensation Expense	$500,000	$400,000	$900,000		$1,900,000
Allocated Share Based Compensation Expense Per Basic Share (in Dollars per share)	$0.02	'	$0.03		'
Allocated Share Based Compensation Expense Per Diluted Share (in Dollars per share)	'	$0.01	'		$0.07
[1]	Includes performance-based options of 427,725, subject to specific performance conditions.

Note_6_Sharebased_Compensation3

Note 6 - Share-based Compensation (Details) - Fair Value Assumptions (USD $)	3 Months Ended		6 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012
Fair Value Assumptions [Abstract]	'	'	'	'
Weighted average risk-free interest rate	1.40%	0.65%	1.40%	0.65%
Expected weighted average volatility	0.78%	0.84%	0.78%	0.84%
Expected weighted average life of options (years)	'6 years	'5 years	'6 years	'5 years
Weighted average fair value of options granted (in Dollars per share)	$2.78	$2.72	$2.75	$2.72

Note_6_Sharebased_Compensation4

Note 6 - Share-based Compensation (Details) - Stock Option Activity (USD $)	6 Months Ended
In Millions, except Share data, unless otherwise specified	Dec. 31, 2013
Stock Option Activity [Abstract]	'
Number of Stock Options	1,658,529
Weighted Average Exercise Price Per Option (in Dollars per share)	$13.57
Weighted -Average Remaining Contractual Term	'7 years 36 days
Granted (1)	602,725	[1]
Granted (1) (in Dollars per share)	$4.15	[1]
Number of Stock Options	2,261,254
Weighted Average Exercise Price Per Option (in Dollars per share)	$11.06
Aggregate Intrinsic Value (in Dollars)	$0.20
[1]	Includes performance-based options of 427,725, subject to specific performance conditions.

Note_6_Sharebased_Compensation5

Note 6 - Share-based Compensation (Details) - Exercise Price Range Relating to Oustanding and Exercisable Options (USD $)	6 Months Ended
	Dec. 31, 2013	Nov. 08, 2012
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'	'
Outstanding Number of Shares (in Shares)	2,261,254	'
Outstanding Weighted Average Remaining Contractual Life	'7 years 36 days	'
Outstanding Weighted Average Exercise Price	$11.06	'
Exercisable Number of Shares (in Shares)	802,470	500,000
Exercisable Weighted Average Exercise Price	$23.75	'
$3.14 - $4.05 [Member]	'	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'	'
Exercise Prices Lower Limit	$3.14	'
Exercise Prices Upper Limit	$4.05	'
Outstanding Number of Shares (in Shares)	245,000	'
Outstanding Weighted Average Remaining Contractual Life	'9 years 120 days	'
Outstanding Weighted Average Exercise Price	$3.92	'
$4.07 [Member]	'	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'	'
Outstanding Number of Shares (in Shares)	931,590	'
Outstanding Weighted Average Remaining Contractual Life	'8 years 317 days	'
Outstanding Weighted Average Exercise Price	$4.07	'
Exercisable Number of Shares (in Shares)	310,531	'
Exercisable Weighted Average Exercise Price	$4.07	'
$4.13 - $4.24 [Member]	'	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'	'
Exercise Prices Lower Limit	$4.13	'
Exercise Prices Upper Limit	$4.24	'
Outstanding Number of Shares (in Shares)	592,725	'
Outstanding Weighted Average Remaining Contractual Life	'7 years 7 days	'
Outstanding Weighted Average Exercise Price	$4.16	'
$11.22 - $99.94 [Member]	'	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'	'
Exercise Prices Lower Limit	$11.22	'
Exercise Prices Upper Limit	$99.94	'
Outstanding Number of Shares (in Shares)	491,939	'
Outstanding Weighted Average Remaining Contractual Life	'2 years 266 days	'
Outstanding Weighted Average Exercise Price	$36.17	'
Exercisable Number of Shares (in Shares)	491,939	'
Exercisable Weighted Average Exercise Price	$36.17	'

Note_6_Sharebased_Compensation6

Note 6 - Share-based Compensation (Details) - Summary of Restricted Stock Awards (Restricted Stock [Member], USD $)	6 Months Ended
	Dec. 31, 2013
Restricted Stock [Member]	'
Note 6 - Share-based Compensation (Details) - Summary of Restricted Stock Awards [Line Items]	'
Outstanding Weighted-Average Grant Date Fair Value (in Dollars per share)	$3.92
Granted	44,750
Granted (in Dollars per share)	$3.98
Released	-11,000
Released (in Dollars per share)	$4.19
Outstanding Shares	33,750
Outstanding Weighted-Average Grant Date Fair Value (in Dollars per share)	$3.92

Note_6_Sharebased_Compensation7

Note 6 - Share-based Compensation (Details) - Summary of MSU Activity (MSU [Member], USD $)	6 Months Ended
	Dec. 31, 2013
MSU [Member]	'
Note 6 - Share-based Compensation (Details) - Summary of MSU Activity [Line Items]	'
Granted	106,870
Granted (in Dollars per share)	$7.69
Unvested Shares	106,870
Unvested Weighted Average Grant Date Fair Value (in Dollars per share)	$7.69

Note_6_Sharebased_Compensation8

Note 6 - Share-based Compensation (Details) - MSU Fair Value Assumptions (USD $)	3 Months Ended		6 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012
Note 6 - Share-based Compensation (Details) - MSU Fair Value Assumptions [Line Items]	'	'	'	'
Risk-free interest rate	1.40%	0.65%	1.40%	0.65%
MSU [Member]	'	'	'	'
Note 6 - Share-based Compensation (Details) - MSU Fair Value Assumptions [Line Items]	'	'	'	'
Expected dividend yield	'	'	0.00%	'
Expected stock price volatility	'	'	0.86%	'
Risk-free interest rate	'	'	0.64%	'
20 day trading average stock price on grant date (in Dollars per share)	'	'	3.98	'
Weighted-average per share grant date fair value (in Dollars per share)	'	'	7.69	'

Note_7_Subsequent_Event_Detail

Note 7 - Subsequent Event (Details) (Subsequent Event [Member], Public Offering [Member], USD $)	1 Months Ended
In Millions, except Per Share data, unless otherwise specified	Jan. 31, 2014
Subsequent Event [Member] | Public Offering [Member]	'
Note 7 - Subsequent Event (Details) [Line Items]	'
Stock Issued During Period, Shares, New Issues	6.7
Sale of Stock, Price Per Share (in Dollars per share)	$4.30
Proceeds from Issuance of Common Stock (in Dollars)	$26.90