Enzon Pharmaceuticals (ENZN) 10-Q 9 Nov 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Oct. 31, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Entity Registrant Name	ENZON PHARMACEUTICALS, INC.
Entity Central Index Key	727,510
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	ENZN
Entity Common Stock, Shares Outstanding		44,214,603

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current assets:
Cash	$ 4,320	$ 7,639
Other receivable	3,500	0
Other current assets	84	270
Total current assets	7,904	7,909
Deferred tax assets, net	1,149	3,362
Total assets	9,053	11,271
Current liabilities:
Accounts payable	213	770
Accrued expenses and other current liabilities	158	170
Total current liabilities	371	940
Commitments and contingencies
Stockholders’ equity:
Preferred stock - $0.01 par value, authorized 3,000,000 shares; no shares issued and outstanding at September 30, 2017 and December 31, 2016	0	0
Common stock - $0.01 par value, authorized 170,000,000 shares; issued and outstanding 44,214,603 shares at September 30, 2017 and December 31, 2016	441	441
Additional paid-in capital	83,650	90,282
Accumulated deficit	(75,409)	(80,392)
Total stockholders’ equity	8,682	10,331
Total liabilities and stockholders’ equity	$ 9,053	$ 11,271

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS [Parenthetical] - $ / shares	Sep. 30, 2017	Dec. 31, 2016
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	3,000,000	3,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	170,000,000	170,000,000
Common stock, shares issued	44,214,603	44,214,603
Common stock, shares outstanding	44,214,603	44,214,603

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues:
Royalties	$ 151	$ 1,965	$ 8,366	$ 7,461
Miscellaneous income	0	21	0	63
Total revenues	151	1,986	8,366	7,524
Operating expenses:
General and administrative	335	376	1,021	1,533
Total operating expenses	335	376	1,021	1,533
Operating (loss) income and (loss) income before income tax (benefit) expense	(184)	1,610	7,345	5,991
Income tax (benefit) expense	(337)	674	2,362	2,503
Net income	$ 153	$ 936	$ 4,983	$ 3,488
Earnings per common share
Basic (in dollars per share)	$ 0	$ 0.02	$ 0.11	$ 0.08
Diluted (in dollars per share)	$ 0	$ 0.02	$ 0.11	$ 0.08
Weighted-average shares - basic	44,215	44,214	44,215	44,214
Weighted-average shares - diluted	44,215	44,214	44,215	44,214

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities:
Net income	$ 4,983	$ 3,488
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred tax provision	2,213	2,501
Changes in operating assets and liabilities	(3,883)	(4,765)
Net cash provided by operating activities	3,313	1,224
Cash flows from financing activities:
Common stock dividend	(6,632)	0
Net cash used in financing activities	(6,632)	0
Net (decrease) increase in cash	(3,319)	1,224
Cash at beginning of period	7,639	11,672
Cash at end of period	$ 4,320	$ 12,896

Description of Business

Description of Business	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations [Text Block]	(1) Description of Business Nektar Therapeutics, Inc. (“Nektar”), which generated non-recurring royalty revenues of $ 7 30, 2017 (see below). Previously, the The Company 100 61 13 70 0 564,000 The Company was previously dedicated to the research and development of innovative therapeutics for patients with high unmet medical needs. Beginning in December 2012, the Company’s Board of Directors (the “Board”), with outside consultants, began a review of the possible sale or disposition of one or more corporate assets or a sale of the Company. At that time, the Company suspended substantially all clinical development activities with a goal of conserving capital and maximizing value returned to the Company’s stockholders. By April 2013, the review did not result in a definitive offer to acquire the Company or all or substantially all of the Company’s assets. At the same time, the Company announced that its Board intended to distribute excess cash, expected to arise from ongoing royalty revenues, in the form of periodic dividends to stockholders. On February 4, 2016, the Company’s Board adopted a Plan of Liquidation and Dissolution, the implementation of which has been postponed. (See Note 10.) Under the Company’s existing agreements with certain third party licensees, the Company may be entitled to (i) potential future milestone payments contingent upon the achievement of certain milestones with respect to several other drug products in various stages of clinical and preclinical development and (ii) potential future royalty payments related to any future sales of these drug products. Due to the challenges associated with developing and obtaining approval for drug products, there is substantial uncertainty whether any of these milestones will be achieved. The Company also has no control over the time, resources and effort that these third party licensees may devote to their programs and limited access to information regarding or resulting from such programs. Accordingly, there can be no assurance that the Company will receive any of the milestone or royalty payments under these agreements. As part of the Company’s sale of its former specialty pharmaceutical business that was completed in January 2010, the Company may be entitled to certain potential future milestone payments contingent upon the achievement of certain regulatory approval-related milestones with respect to Oncaspar from Shire plc (“Shire”), which assumed the milestone payment obligations when it acquired the Oncaspar product portfolio from Sigma-Tau Finanziaria S.p.A. in July 2015. Based on Shire’s May 2, 2017 investor presentation, the Company believed that Shire anticipated filing a Biologics License Application (“BLA”) for SC Oncaspar with the FDA in the third quarter of 2017. As of September 30, 2017, there has been no public announcement by Shire of any such filing. If filed and FDA approval is obtained for SC Oncaspar, under its agreement, the Company would be entitled to a milestone payment of $ 7.0 any of the Company’s other third party licensees On June 26, 2017, the Company entered into the Nektar Second Amendment, wherein Nektar agreed to buy-out all remaining payment obligations to the Company under the Nektar License Agreement. In consideration for fully paid-up licenses under the Nektar License Agreement and for the dismissal with prejudice of all claims and counterclaims asserted in the litigation with Nektar, Nektar agreed to pay the Company the sum of $ 7.0 3.5 3.5

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Accounting [Text Block]	(2) Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared from the books and records of the Company in accordance with United States generally accepted accounting principles (U.S. GAAP) for interim financial information and Rule 10-01 of Regulation S-X promulgated by the U.S. Securities and Exchange Commission. Accordingly, these financial statements do not include all of the information and footnotes required for complete annual financial statements. Interim results are not necessarily indicative of the results that may be expected for the full year. Interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016. The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated as part of the consolidation. The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. These estimates include legal and contractual contingencies and income taxes. Although management bases its estimates on historical experience and various other assumptions that are believed to be reasonable under the circumstances, actual results could differ from these estimates. Royalties under the Company’s license agreements with third-parties and pursuant to the sale of its former specialty pharmaceutical business are recognized when reasonably determinable and earned through the sale of the product by the third-party and collection is reasonably assured. Notification from the third-party licensee of the royalties earned under the license agreement is the basis for royalty revenue recognition. This information generally is received from the licensees in the quarter subsequent to the period in which the sales occur.

New Accounting Pronouncements

New Accounting Pronouncements	9 Months Ended
	Sep. 30, 2017
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	(3) New Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers,” relating to revenue recognition. This new standard provides for a single five-step model to be applied to all revenue contracts with customers as well as requires additional financial statement disclosures that will enable users to understand the nature, amount, timing and uncertainty of revenue and cash flows relating to customer contracts. Companies have an option to use either a retrospective approach or cumulative effect adjustment approach to implement the standard. This ASU, as amended, is effective for fiscal years and interim periods within those years beginning after December 15, 2017. The Company is currently assessing the impact of this update, but preliminarily believes that its adoption will not have a material impact on the Company’s consolidated financial statements. The Company does not expect the adoption of other

Financial Instruments and Fair

Financial Instruments and Fair Value	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	(4) Financial Instruments and Fair Value The carrying values of cash, other receivables, other current assets, accounts payable, accrued expenses and other current liabilities in the Company’s condensed consolidated balance sheets approximated their fair values at September 30, 2017 and December 31, 2016 due to their short-term nature.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 2017
Supplemental Cash Flow Elements [Abstract]
Cash Flow, Supplemental Disclosures [Text Block]	(5) Supplemental Cash Flow Information There were no income tax or interest payments made during the nine months ended September 30, 2017. There were estimated federal income tax payments of $ 135,000 1,500 135,000 On August 10, 2017, the Company’s Board of Directors declared a special cash dividend of $ 0.15 6.6

Income Per Common Share

Income Per Common Share	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	(6) Income Per Common Share Basic earnings per common share is computed by dividing the income available to common stockholders by the weighted-average number of shares of common stock outstanding during the period. Restricted stock units (nonvested shares) are not considered to be outstanding shares until the vesting criteria (service and/or performance) have been satisfied. For purposes of calculating diluted earnings per common share, the denominator includes both the weighted-average number of shares of common stock outstanding and the number of common stock equivalents if the inclusion of such common stock equivalents is dilutive. Dilutive common stock equivalents potentially include stock options and nonvested shares using the treasury stock method and shares issuable under the employee stock purchase plan (ESPP). There were no common stock equivalents during any of the periods presented. Income Three months ended Nine months ended 2017 2016 2017 2016 Income Per Common Share – Basic and Diluted: Net income $ 153 $ 936 $ 4,983 $ 3,488 Weighted-average common shares outstanding 44,215 44,214 44,215 44,214 Basic and diluted income per share $ 0.00 $ 0.02 $ 0.11 $ 0.08 As of September 30, 2017 and 2016, options for 41,787 218,719

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	(7) Stock-Based Compensation Stock Options and Restricted Stock Units (RSUs or Nonvested Shares) During the nine months ended September 30, 2017 and 2016, no options were granted and the Company incurred no stock-based compensation expense. No RSUs were outstanding as of September 30, 2017. Stock Options Outstanding at January 1, 2017 219 Granted - Exercised and vested - Expired and forfeited 177 Outstanding at September 30, 2017 42 Options vested and expected to vest at September 30, 2017 42 Options exercisable at September 30, 2017 42

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	(8) Income Taxes The Company incurred tax expense of approximately $ 2.4 0.3 in income tax benefit 183 41.7 39.1 After reducing its deferred tax assets by approximately $ 2.2 During the nine months ended September 30, 2016, the Company recorded $ 2.5 674,000 Tax benefits of uncertain tax positions are recognized only if it is more likely than not that the Company will be able to sustain a position taken on an income tax return. The Company has no liability for uncertain tax positions. Interest and penalties, if any, related to unrecognized tax benefits, would be recognized as income tax expense.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	(9) Commitments and Contingent Liabilities Commencing on March 1, 2016, the Company changed the location of its principal executive offices to 20 Commerce Drive, Suite 135, Cranford, New Jersey, 07016. The Company entered into an office service agreement with Regus Management Group, LLC (“Regus”) for use of office space at this location effective March 1, 2016. Under the agreement, in exchange for the Company’s right to use the office space at this location, the Company was required to pay Regus an initial service retainer of $ 2,418 1,209 1,229 The Company has been involved in various claims and legal actions arising in the ordinary course of business. In the opinion of management, the ultimate disposition of these matters will not have a material effect on the Company’s consolidated financial position, results of operations, or liquidity.

Plan of Liquidation and Dissolu

Plan of Liquidation and Dissolution	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Liquidation Basis of Accounting [Text Block]	(10) Plan of Liquidation and Dissolution On February 4, 2016, the Company’s Board adopted a Plan of Liquidation and Dissolution (the “Plan of Liquidation and Dissolution”), pursuant to which the Company would, subject to obtaining requisite stockholder approval, be liquidated and dissolved in accordance with Sections 280 and 281 (a) of the General Corporation Law of the State of Delaware. In approving the Plan of Liquidation and Dissolution, the Company’s Board had considered, among other factors, the ability of the Company to obtain no-action relief from the SEC to suspend certain of the Company’s reporting obligations under the Securities Exchange Act of 1934, as amended, and the anticipated cost savings if such relief is granted by the SEC. Upon further review, the Company concluded that the SEC was unlikely to grant such relief to the Company in 2016. Accordingly, after further consideration, the Company’s Board determined that it would be fair, advisable and in the best interests of the Company and its stockholders to postpone seeking stockholder approval of the Plan of Liquidation and Dissolution until a later time to be determined by the Company’s Board. If dissolution and liquidation of the Company pursuant to the Plan of Liquidation and Dissolution are approved by the Company’s stockholders and implemented by management, it is expected that the Company’s corporate existence will continue for the purpose of winding up its business and affairs through the year 2021, consistent with the expiration of the Company’s existing license arrangements that generate its royalty revenues, unless extended by certain license events occurring. The Company’s future royalty revenues are forecasted to aggregate approximately $11 million from the beginning of 2017 through the end of 2021. This forecast is based upon a variety of estimates and numerous assumptions made by the Company’s management with respect to, among other matters, forecasted sales of the drug products for which the Company has the right to receive royalties and other matters, many of which are difficult to predict, are subject to significant uncertainties, and are beyond the Company’s control. As a result, there can be no assurance that the estimates and assumptions upon which this forecast is based will prove accurate, that the projected results will be realized or that actual results will not be substantially higher or lower than forecasted.

Royalty Revenues and Accounts P

Royalty Revenues and Accounts Payable	9 Months Ended
	Sep. 30, 2017
Royalty Revenues and Accounts Payable [Abstract]
Royalty Revenues and Accounts Payable [Text Block]	(11) Royalty Revenues and Accounts Payable In March 2017, Merck notified the Company that, during the second and third quarters of 2016, it had made an overpayment to Enzon of approximately $ 770,000 25 770,000 During the three-month period ending March 31, 2017, Merck reported net royalties earned by the Company aggregated approximately $ 636,000 134,000 During the second quarter of 2017, Merck reported net royalties earned by the Company of approximately $ 335,000 134,000 201,000 However, in the second quarter of 2017, Merck notified the Company that they discovered additional overpayments to the Company resulting from the inaccuracy as to the date on which the Company’s right to receive royalties from various countries’ sales of PegIntron expired. Such net overpayment to Enzon aggregated approximately $ 563,000 201,000 In the third quarter of 2017, Merck again notified the Company that, based on rebates and returns of PegIntron products, they had deducted approximately $ 150,000 363,000 213,000

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Interim Financial Statements [Policy Text Block]	Interim Financial Statements The accompanying unaudited condensed consolidated financial statements have been prepared from the books and records of the Company in accordance with United States generally accepted accounting principles (U.S. GAAP) for interim financial information and Rule 10-01 of Regulation S-X promulgated by the U.S. Securities and Exchange Commission. Accordingly, these financial statements do not include all of the information and footnotes required for complete annual financial statements. Interim results are not necessarily indicative of the results that may be expected for the full year. Interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016.
Consolidation, Policy [Policy Text Block]	Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated as part of the consolidation.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. These estimates include legal and contractual contingencies and income taxes. Although management bases its estimates on historical experience and various other assumptions that are believed to be reasonable under the circumstances, actual results could differ from these estimates.
Revenue Recognition, Policy [Policy Text Block]	Revenues Royalties under the Company’s license agreements with third-parties and pursuant to the sale of its former specialty pharmaceutical business are recognized when reasonably determinable and earned through the sale of the product by the third-party and collection is reasonably assured. Notification from the third-party licensee of the royalties earned under the license agreement is the basis for royalty revenue recognition. This information generally is received from the licensees in the quarter subsequent to the period in which the sales occur.

Income Per Common Share (Tables

Income Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Income Three months ended Nine months ended 2017 2016 2017 2016 Income Per Common Share – Basic and Diluted: Net income $ 153 $ 936 $ 4,983 $ 3,488 Weighted-average common shares outstanding 44,215 44,214 44,215 44,214 Basic and diluted income per share $ 0.00 $ 0.02 $ 0.11 $ 0.08

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation, Activity [Table Text Block]	Activity related to stock options and nonvested shares during the nine months ended September 30, 2017 and related balances outstanding as of that date are reflected below (in thousands): Stock Options Outstanding at January 1, 2017 219 Granted - Exercised and vested - Expired and forfeited 177 Outstanding at September 30, 2017 42 Options vested and expected to vest at September 30, 2017 42 Options exercisable at September 30, 2017 42

Description of Business (Detail

Description of Business (Details Textual) - USD ($)	1 Months Ended	3 Months Ended				9 Months Ended
	Mar. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Description of Business [Line Items]
Royalty Revenues From Sales Percentage		100.00%			61.00%	13.00%	70.00%
Royalty Revenue, Total		$ 151,000			$ 1,965,000	$ 8,366,000	$ 7,461,000
Other Receivables, Net, Current		3,500,000				3,500,000		$ 0
Payment Of Milestone Payments						7,000,000
Merck Co Inc [Member]
Description of Business [Line Items]
Decreases Of Royalty Revenues		$ 0	$ 563,000			$ 564,000
Proceeds from Royalties Received	$ 770,000		335,000	$ 636,000
Nektar Therapeutics, Inc [Member]
Description of Business [Line Items]
Royalty Revenues From Sales Percentage						13.00%
Royalty Revenue, Total			7,000,000			$ 7,000,000
Proceeds from Royalties Received			3,500,000
Other Receivables, Net, Current			$ 3,500,000

Supplemental Cash Flow Inform21

Supplemental Cash Flow Information (Details Textual) - USD ($)	Aug. 10, 2017	Sep. 26, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Dividends Payable [Line Items]
Income Taxes Paid			$ 135,000		$ 135,000
Interest Paid, Net				$ 0
Common Stock, Dividends, Per Share, Declared	$ 0.15
Payments of Ordinary Dividends, Common Stock		$ 6,600,000		$ 6,632,000	0
New Jersey Division of Taxation [Member]
Dividends Payable [Line Items]
Income Taxes Paid					$ 1,500

Income Per Common Share (Detail

Income Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Per Common Share - Basic and Diluted:
Net income	$ 153	$ 936	$ 4,983	$ 3,488
Weighted-average common shares outstanding	44,215	44,214	44,215	44,214
Basic and diluted income per share	$ 0	$ 0.02	$ 0.11	$ 0.08

Income Per Common Share (Deta23

Income Per Common Share (Details Textual) - shares	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Employee Stock Option [Member]
Earnings Per Common Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	41,787	218,719

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) shares in Thousands	9 Months Ended
	Sep. 30, 2017shares
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Options, Outstanding at January 1, 2017, Stock Options	219
Granted, Stock Options	0
Exercised and vested, Stock Options	0
Expired and forfeited, Stock Options	177
Options, Outstanding at September 30, 2017, Stock Options	42
Options vested and expected to vest at September 30, 2017, Stock Options	42
Options exercisable at September 30, 2017, Stock Options	42

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2017	Dec. 31, 2016
Income Taxes [Line Items]
Deferred Tax Assets, Net, Current	$ 2,200		$ 2,200
Income Tax Expense (Benefit)	$ (337)	$ 674	$ 2,362	$ 2,503
Effective Income Tax Rate Reconciliation, Percent	183.00%					41.70%
Scenario, Forecast [Member]
Income Taxes [Line Items]
Effective Income Tax Rate Reconciliation, Percent					39.10%

Commitments and Contingent Li26

Commitments and Contingent Liabilities (Details Textual) - Regus Management Group, LLC [Member] - USD ($)	Mar. 01, 2017	Sep. 30, 2017	Mar. 01, 2016
Loss Contingencies [Line Items]
Security Deposit			$ 2,418
Operating Leases, Rent Expense	$ 1,209	$ 1,229

Plan of Liquidation and Disso27

Plan of Liquidation and Dissolution (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		60 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2021
Royalty Revenue, Total	$ 151	$ 1,965	$ 8,366	$ 7,461
Scenario, Forecast [Member]
Royalty Revenue, Total					$ 11,000

Royalty Revenues and Accounts28

Royalty Revenues and Accounts Payable (Details Textual) - USD ($)	1 Months Ended	3 Months Ended			9 Months Ended
	Mar. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Sep. 30, 2017	Dec. 31, 2016
Accrued Royalties						$ 770,000
Accounts Payable, Current		$ 213,000			$ 213,000	$ 770,000
PegIntron [Member]
Decreases Of Royalty Revenues		150,000
Merck Co Inc [Member]
Royalty Payments Withheld			$ 134,000
Proceeds from Royalties Received	$ 770,000		335,000	$ 636,000
Accrued Royalties	$ 134,000	201,000	25	$ 134,000	201,000
Decreases Of Royalty Revenues		0	$ 563,000		564,000
Percentage of Equity Interest Sold	25.00%			25.00%
Accounts Payable, Current		$ 363,000			$ 363,000