Acura Pharmaceuticals (ACUR) 10-Q 14 Aug 20 2020 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Aug. 14, 2020
Document And Entity Information
Document Type	10-Q
Document Period End Date	Jun. 30, 2020
Entity Registrant Name	ACURA PHARMACEUTICALS, INC
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Trading Symbol	ACUR
Entity Common Stock, Shares Outstanding		21,650,294
Entity Central Index Key	0000786947
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Assets:
Cash	$ 1,038	$ 862
Royalty receivable	30	82
Collaboration revenue receivable from related party	49	78
License fee receivable from related party	700	0
Prepaid expenses and other current assets	55	122
Income tax receivable	68	34
Total current assets	1,940	1,178
Income tax receivable	0	34
Property, plant and equipment, net (Note 6)	511	540
Intangible asset, net (Note 3)	85	810
Total assets	2,536	2,562
Liabilities:
Accounts payable	141	237
Accrued expenses (Note 7)	645	585
Loan under CARES Act	120	0
Other current liabilities (Note 11)	15	29
Sales returns liability (Note 4)	0	223
Accrued interest to related party (Note 8)	454	0
Convertible debt to related party, net of discounts (Note 8)	6,000	0
Total current liabilities	7,375	1,074
Convertible debt to related party, net of discounts (Note 8)	0	6,000
Accrued interest to related party (Note 8)	0	229
Loan under CARES Act	149	0
Total liabilities	7,524	7,303
Commitments and contingencies
Stockholders' deficit:
Common stock - $0.01 par value per share; 100,000 shares authorized, 21,650 and 21,300 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively	216	213
Additional paid-in capital	383,079	383,042
Accumulated deficit	(388,283)	(387,996)
Total stockholders' deficit	(4,988)	(4,741)
Total liabilities and stockholders' deficit	$ 2,536	$ 2,562

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Thousands	Jun. 30, 2020	Dec. 31, 2019
CONSOLIDATED BALANCE SHEETS
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000	100,000
Common stock, shares issued	21,650	21,300
Common stock, shares outstanding	21,650	21,300

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenues:
Royalties	$ 34	$ 46	$ 67	$ 113
Collaboration	44	0	52	0
License fees	1,050	0	2,100	0
Product sales, net of allowance (Note 4)	223	0	223	0
Total revenues	1,351	46	2,442	113
Operating expenses:
Research and development	445	262	832	575
General and administrative	485	406	1,672	843
Total operating expenses	930	668	2,504	1,418
Operating income (loss)	421	(622)	(62)	(1,305)
Loss on debt extinguishment	0	(2,600)	0	(2,600)
Interest expense - related party (Note 10)	(113)	(119)	(225)	(224)
Income (loss) before provision for income taxes	308	(3,341)	(287)	(4,129)
Provision for income taxes	0	0	0	0
Net income (loss)	$ 308	$ (3,341)	$ (287)	$ (4,129)
Net income (loss) per share:
Basic	$ 0.01	$ (0.15)	$ (0.01)	$ (0.19)
Diluted	$ 0.01	$ (0.15)	$ (0.01)	$ (0.19)
Weighted average number of shares outstanding:
Basic	32,304	21,872	32,287	21,684
Diluted	32,482	21,872	32,287	21,684

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN ACCUMULATED STOCKHOLDERS' DEFICIT - USD ($) shares in Thousands, $ in Thousands	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Total
Balance at Dec. 31, 2018	$ 210	$ 380,395	$ (384,222)	$ (3,617)
Balance (in shares) at Dec. 31, 2018	21,034
Net (loss) income			(788)	(788)
Net distribution of common stock pursuant to restricted stock unit award plan	$ 3	12		15
Net distribution of common stock pursuant to restricted stock unit award plan (in shares)	266
Non-cash share-based compensation		29		29
Balance at Mar. 31, 2019	$ 213	380,436	(385,010)	(4,361)
Balance (in shares) at Mar. 31, 2019	21,300
Balance at Dec. 31, 2018	$ 210	380,395	(384,222)	(3,617)
Balance (in shares) at Dec. 31, 2018	21,034
Net (loss) income				(4,129)
Debt premium from debt modification				1,380
Issuance of warrant				1,150
Balance at Jun. 30, 2019	$ 213	382,992	(388,351)	(5,146)
Balance (in shares) at Jun. 30, 2019	21,300
Balance at Dec. 31, 2018	$ 210	380,395	(384,222)	(3,617)
Balance (in shares) at Dec. 31, 2018	21,034
Net (loss) income				(3,800)
Balance at Dec. 31, 2019	$ 213	383,042	(387,996)	(4,741)
Balance (in shares) at Dec. 31, 2019	21,300
Balance at Mar. 31, 2019	$ 213	380,436	(385,010)	(4,361)
Balance (in shares) at Mar. 31, 2019	21,300
Net (loss) income			(3,341)	(3,341)
Non-cash share-based compensation		29		29
Debt premium from debt modification		1,382		1,382
Issuance of warrant		1,145		1,145
Balance at Jun. 30, 2019	$ 213	382,992	(388,351)	(5,146)
Balance (in shares) at Jun. 30, 2019	21,300
Balance at Dec. 31, 2019	$ 213	383,042	(387,996)	(4,741)
Balance (in shares) at Dec. 31, 2019	21,300
Net (loss) income			(595)	(595)
Net distribution of common stock pursuant to restricted stock unit award plan	$ 3	19		22
Net distribution of common stock pursuant to restricted stock unit award plan (in shares)	350
Non-cash share-based compensation		9		9
Balance at Mar. 31, 2020	$ 216	383,070	(388,591)	(5,305)
Balance (in shares) at Mar. 31, 2020	21,650
Balance at Dec. 31, 2019	$ 213	383,042	(387,996)	(4,741)
Balance (in shares) at Dec. 31, 2019	21,300
Net (loss) income				(287)
Balance at Jun. 30, 2020	$ 216	383,079	(388,283)	(4,988)
Balance (in shares) at Jun. 30, 2020	21,650
Balance at Mar. 31, 2020	$ 216	383,070	(388,591)	(5,305)
Balance (in shares) at Mar. 31, 2020	21,650
Net (loss) income			308	308
Non-cash share-based compensation		9		9
Balance at Jun. 30, 2020	$ 216	$ 383,079	$ (388,283)	$ (4,988)
Balance (in shares) at Jun. 30, 2020	21,650

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash Flows from Operating Activities:
Net (loss) income	$ (287)	$ (4,129)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation	29	34
Non-cash share-based compensation	18	58
Capitalized debt discount		(13)
Amortization of debt discount and deferred debt issue costs		66
Amortization of intangible asset	57	103
Loss on debt extinguishment	0	2,600
Impairment charge on intangible asset	668
Changes in assets and liabilities:
Royalty receivable	52	93
License fee receivable - related party	(700)
Loan receivable - related party		(725)
Collaboration revenue receivable from related party	29
Prepaid expenses and other current assets	67	118
Accounts payable	(96)	69
Accrued expenses	60	94
Sales returns liability	(223)
Accrued interest on related party loans	225	(106)
Other current liabilities	7	(2)
Net cash used in operating activities	(94)	(1,740)
Cash Flows from Financing Activities:
Proceeds from distribution of restricted stock units	3	14
Statutory minimum payroll withholding taxes paid on the distribution of shares pursuant to RSU award plan	(2)
Proceeds from loan under CARES Act	269
Proceeds from related party loans		1,650
Net cash provided by financing activities	270	1,664
Net increase(decrease) in cash	176	(76)
Cash at beginning of period	862	91
Cash at end of end of period	$ 1,038	$ 15

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Jun. 28, 2020	Dec. 31, 2019
Related party loans made to Company	$ 5,000		$ 5,000		$ 5,000
(Loss) gain on debt extinguishment (Note 7)	0	$ (2,600)	0	$ (2,600)
Common stock purchase warrant issued to the related party lender		1,145		1,150
Excess fair value premium on the newly issued convertible debt		1,382		1,380
Write-off of unamortized debt discount				70
Accrued interest due on the related party loan rolled into principal under modifications	$ 0	274	$ 0	274		$ 229
Proceeds from related party loans				1,650
Interest Rate Below Market Reduction [Member]
Related party loans made to Company		$ 650		650
Imputed interest on the below market rate recorded as benefit to interest income				$ 13

OPERATIONS AND SUMMARY OF SIGNI

OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2020
OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 – OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principal Operations Acura Pharmaceuticals, Inc., a New York corporation, and its subsidiary (the “Company”, “Acura”, “We”, “Us” or “Our”) is an innovative drug delivery company engaged in the research, development and commercialization of technologies and products intended to address safe use of medications. We have discovered and developed three proprietary platform technologies which can be used to develop multiple products. Our Limitx™ Technology is intended to minimize the risks and side effects associated with overdose by retarding the release of active drug ingredients when too many tablets are accidently or purposefully ingested. Our Aversion® Technology is intended to address methods of product tampering associated with opioid abuse by incorporating gelling ingredients and irritants into tablets to discourage abuse by snorting and provide barriers to abuse by injection. Our Impede® Technology is directed at minimizing the extraction and conversion of pseudoephedrine tablets into methamphetamine. · Our Limitx Technology is in development with immediate-release tablets containing hydrocodone bitartrate and acetaminophen (also known as LTX-03) as the lead product candidate due to its large market size and its known prevalence of oral excessive tablet abuse and overdose. The technology is designed to retard the release of active opioid drug when too many tablets are accidentally or purposefully ingested by neutralizing stomach acid with buffer ingredients but deliver efficacious amounts of drug when taken as a single tablet with a nominal buffer dose. US commercialization rights to LTX-03 are licensed to Abuse Deterrent Pharma, LLC (See Note 3). · Our Aversion Technology has been licensed to Assertio Holdings Inc or Assertio (formerly known as Zyla Life Sciences and previously as Egalet Corporation) for use in Oxaydo® Tablets (oxycodone HCl, CII), and is the first approved immediate-release oxycodone product in the United States with abuse deterrent labeling. Oxaydo is currently approved by the FDA for marketing in the United States in 5mg and 7.5mg strengths (See Note 3). · Our Impede Technology is used in Nexafed® Tablets (30mg pseudoephedrine HCl) and Nexafed® Sinus Pressure + Pain Tablets (30/325mg pseudoephedrine HCl and acetaminophen). We have licensed to MainPointe Pharmaceuticals, LLC (MainPointe), our Impede Technology in the United States and Canada to commercialize these Nexafed products (See Note 3). MainPointe subsequently assigned its interest in the license to Abuse Deterrent Pharma, LLC but continues to market the products. Basis of Presentation, Liquidity and Substantial Doubt in Going Concern The accompanying consolidated financial statements of the Company have been prepared assuming the Company will continue as a going concern and in accordance with generally accepted accounting principles in the United States of America. The going concern basis of presentation assumes that we will continue in operation one year after the date these financial statements are issued and we will be able to realize our assets and discharge our liabilities and commitments in the normal course of business. As of June 30, 2020, we had cash of $1.0 million, working capital deficit of $5.6 million and an accumulated deficit of $388.3 million. We had a loss from operations of $62 thousand and a net loss of $287 thousand for the six months ended June 30, 2020, and had a loss from operations of $725 thousand and a net loss of $3.8 million for the year ended December 31, 2019. We have suffered recurring losses and have not generated positive cash flows from operations. We anticipate operating losses to continue for the foreseeable future. On June 28, 2019, we entered into a License, Development and Commercialization Agreement with Abuse Deterrent Pharma, LLC ("AD Pharma") (the "AD Pharma Agreement"). AD Pharma has the right to terminate the AD Pharma Agreement for "convenience on 30 days prior written notice". Under the AD Pharma Agreement, the required monthly license payments by AD Pharma will only continue until November 2020 if AD Pharma does not exercise their right to terminate the AD Pharma Agreement. To fund further operations, we must raise additional financing or enter into license or collaboration agreements with third parties relating to our technologies or explore a variety of capital raising and other transactions to provide additional funding. No assurance can be given that we will be successful in obtaining any such financing or in securing license or collaboration agreements with third parties on acceptable terms, if at all, or if secured, that such financing or license or collaboration agreements will provide payments to the Company sufficient to fund continued operations and the Company will be required to scale back or terminate operations and/or seek protection under applicable bankruptcy laws. Delay or cessation of the Company's continuing product development efforts will have a material adverse effect on the Company's financial condition and results of operations. Should AD Pharma exercise their right to terminate the AD Pharma Agreement, we would need to raise additional financing or enter into license or collaboration agreements with third parties relating to our technologies. The Company's ability to raise additional capital may be adversely impacted by potential worsening global economic conditions and the recent disruptions to, and volatility in, financial markets in the United States and worldwide resulting from the ongoing COVID-19 pandemic. No assurance can be given that we will be successful in obtaining any such financing or in securing license or collaboration agreements with third parties on acceptable terms, if at all, or if secured, that such financing or license or collaboration agreements will provide payments to the Company sufficient to fund continued operations. In the absence of such financing or third-party license or collaboration agreements, the Company will be required to scale back or terminate operations and/or seek protection under applicable bankruptcy laws. An extended delay or cessation of the Company’s continuing product development efforts will have a material adverse effect on the Company’s financial condition and results of operations. Also included in the AD Pharma Agreement is the requirement that the NDA for LTX-03 be accepted by the FDA by November 30, 2020, or AD Pharma has the option to terminate the AD Pharma Agreement and take ownership of the LIMITx intellectual property. Importantly, such failure to meet this date will be an event of default under their $6.0 million note to Acura. The NDA acceptance date of November 30, 2020 was predicated upon a timeline prepared at June 28, 2019 which included the purchase and installation of auxiliary production manufacturing equipment. At this time, all auxiliary manufacturing equipment needed for production has been received and installed but recent COVID-19 risk mitigation strategies implemented at the New Jersey based contract manufacturer did delay the installation of the equipment for several weeks. Acura currently expects the submission and FDA acceptance of a new drug application ("NDA") for LTX-03 to occur in the second quarter of 2021, unless additional development delays are experienced. We therefore presented the $6.0 million note as a current liability at June 30, 2020. The Parties are in negotiations to amend the AD Pharma Agreement to extend the date of the FDA acceptance of the NDA for LTX-03 which would allow for these unforeseen delays. AD Pharma has deferred the remittance of the required monthly license payments for May,June,July and August, 2020 pending the completion of these negotiations. In view of the matters described above, management has concluded that substantial doubt exists with respect to the Company’s ability to continue as a going concern within one year after the date the financial statements are issued. The recoverability of a major portion of the recorded asset amounts shown in the Company’s accompanying consolidated balance sheets is dependent upon continued operations of the Company, which in turn is dependent upon the Company’s ability to meet its funding requirements on a continuous basis, to maintain existing financing and to succeed in its future operations. The Company’s financial statements do not include any adjustment relating to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue in existence. COVID-19 On January 30, 2020, the World Health Organization (“WHO”) announced a global health emergency because of a new strain of coronavirus originating in Wuhan, China (the “COVID-19 outbreak”) and the risks to the international community as the virus spreads globally beyond its point of origin. In March 2020, the WHO classified the COVID-19 outbreak as a pandemic (“coronavirus pandemic”), based on the rapid increase in exposure globally. The coronavirus pandemic is affecting the United States and global economies. If the outbreak continues to spread, it may affect the Company’s operations and those of third parties on which the Company relies, including causing disruptions in the supply of the Company’s product candidates and the conduct of current and planned preclinical and clinical studies and contract manufacturing operations. We may need to limit operations or implement limitations, and may experience limitations in employee resources. There are risks that it may be more difficult to contain if the outbreak reaches a larger population or broader geography, in which case the risks described herein could be elevated significantly. The extent to which the coronavirus impacts our results will depend on future developments, which are highly uncertain and cannot be predicted, including new information which may emerge concerning the severity of the coronavirus and the actions to contain the coronavirus or treat its impact, among others. Additionally, while the potential economic impact brought by, and the duration of, the coronavirus pandemic is difficult to assess or predict, the impact of the coronavirus on the global financial markets may reduce the Company’s ability to access capital, which could negatively impact the Company’s short-term and long-term liquidity and the Company’s ability to complete its preclinical studies on a timely basis, or at all. For example, as further discussed throughout the notes to financial statements, our contract manufacturer did delay the installation of the auxiliary manufacturing equipment needed for LTX-03 development for several weeks due to COVID-19 risk mitigation strategies implemented in New Jersey which is needed to further our NDA application submission for LTX-03. The ultimate impact of coronavirus is highly uncertain and subject to change. The Company does not yet know the full extent of potential delays or impacts on its business, financing, preclinical and clinical trial activities contract manufacturing operations or the global economy as a whole. However, these effects could have a material, adverse impact on the Company’s liquidity, capital resources, operations and business and those of the third parties on which we rely.

RECENT ANNOUNCING STANDARDS

RECENT ANNOUNCING STANDARDS	6 Months Ended
	Jun. 30, 2020
RECENT ANNOUNCING STANDARDS
RECENT ANNOUNCING STANDARDS	NOTE 2 – RECENT ANNOUNCING STANDARDS New accounting standards which have been adopted Fair Value Measurements In August 2018, the FASB issued ASU 2018-13 , Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement . ASU 2018-13 eliminates certain disclosure requirements for fair value measurements for all entities, requires public entities to disclose certain new information and modifies some disclosure requirements. This standard is effective for fiscal years beginning after December 15, 2019, including interim reporting periods within those years, with early adoption permitted. The Company's adoption of ASU 2018-13 did not have a material impact on the financial statements and related footnote disclosures.

LICENSE AND COLLABORATION AGREE

LICENSE AND COLLABORATION AGREEMENTS	6 Months Ended
	Jun. 30, 2020
LICENSE AND COLLABORATION AGREEMENTS
LICENSE AND COLLABORATION AGREEMENTS	NOTE 3 – LICENSE AND COLLABORATION AGREEMENTS The Company’s revenues are comprised of amounts earned under its license and collaboration agreements and royalties. Revenue recognition occurs when a customer obtains control of promised services in an amount that reflects the consideration the Company expects to receive in exchange for those services based on a short-term credit arrangement. AD Pharma Agreement covering LTX-03 On June 28, 2019 we entered into a License, Development and Commercialization Agreement ("the AD Pharma Agreement") with Abuse Deterrent Pharma, LLC (AD Pharma",for the development and license of LTX-03 (hydrocodone bitartrate with acetaminophen) immediate-release tablets utilizing Acura's patented LIMITx (TM) . Acura will receive a monthly license payment of $350 thousand by AD Pharma for 18 months until November 2020. The first license payment was received July 2, 2019. AD Pharma will pay for and reimburse Acura for all outside development costs on LTX-03. If the NDA filing for LTX-03 is not accepted by the FDA by November 30, 2020, AD Pharma has the option to terminate the AD Pharma Agreement and take ownership of the Limitx intellectual property. Should AD Pharma choose not to exercise this option to terminate and the NDA for LTX-03 is subsequently accepted by the FDA, such option expires.AD Pharma does have the right to terminate the AD Pharma Agreement anytime for "convenience on 30 days prior written notice". AD Pharma retains commercialization rights from which Acura will receive stepped royalties on sales and potential sales related milestones. We also granted authority to MainPointe Pharmaceuticals, LLC (MainPointe) to assign to AD Pharma the option and the right to add, as an Option Product to the Nexafed® Agreement, a Nexafed® 12-hour dosage (an extended-release pseudoephedrine hydrochloride product utilizing the IMPEDE® Technology in 120mg dosage strength. The Option Product exercise price of $500 thousand is waived if the exercise of the option occurs by June 28, 2024 (five years from the effective date of the AD Pharma Agreement). On June 28, 2019 Mr. John Schutte assigned and transferred to AD Pharma his $6.0 million promissory note, the common stock purchase warrant for 10.0 million common shares, and the security agreement granting a security interest in all of the Company's assets. Mr. Schutte is our largest shareholder and directly owns approximately 45.7% of our common stock (after giving effect to the exercise of remaining common stock purchase warrants he holds). Mr. Schutte controls MainPointe and is the principal investor in AD Pharma. Assertio Agreement covering Oxaydo In April 2014, we terminated an agreement with Pfizer which resulted in the return to us of Aversion Oxycodone (formerly known as Oxecta®) and all Aversion product rights in exchange for a one-time termination payment of $2.0 million. Our termination payment of $2.0 million has been recorded in our financial statements as an intangible asset and is being amortized over the remaining useful life of the patent covering Aversion Oxycodone, which was 9.7 years as of the date the Pfizer agreement was terminated. The recoverability of the Aversion intangible asset is contingent upon future Assertio royalty revenues to us. We have recorded amortization expense of $57 thousand and $103 thousand in each of the six month periods ending June 30, 2020 and 2019, respectively. During the first quarter 2020 a triggering event occurred with the decline in royalty cash flows from Assertio, and we performed an impairment test which indicated that the carrying value of the intangible asset was greater than the fair value. The impairment test resulted in a $668 thousand impairment charge against the intangible asset, which was determined using our estimate of discounted royalty cash flows remaining under our license agreement with Assertio, and recorded a like amount to general and administrative expense. Amortization of the patent for its remaining life is expected to approximate $6 thousand per quarter. The Aversion intangible asset is summarized as follows (in thousands): June 30, December 31, 2020 2019 Intangible asset – Aversion 2,000 2,000 Less: accumulated amortization (1,247) (1,190) Less: reserve for impairment (668) — Net $ 85 $ 810 In January 2015, we and Egalet US, Inc. and Egalet Ltd., each a subsidiary of Egalet Corporation (now known as Assertio Holdings Inc and formerly known as Zyla Life Sciences), or collectively Assertio, entered into a Collaboration and License Agreement (the “Assertio Agreement”) to commercialize Aversion Oxycodone under our tradename Oxaydo. Oxaydo is approved by the FDA for marketing in the United States in 5 mg and 7.5 mg strengths. Under the terms of the Assertio Agreement, we transferred the approved New Drug Application, or NDA, for Oxaydo to Assertio and Assertio is granted an exclusive license under our intellectual property rights for development and commercialization of Oxaydo worldwide (the “Territory”) in all strengths, subject to our right to co-promote Oxaydo in the United States. Eaglet launched Oxaydo in the United States late in the third quarter of 2015. In accordance with the Assertio Agreement Assertio is responsible for the fees and expenses relating to the product line extensions of Oxaydo, provided that Assertio will pay a substantial majority of the fees and expenses and we will pay for the remaining fees and expense relating to (i) annual NDA PDUFA product fees, (ii) expenses of the FDA required post-marketing study for Oxaydo and (iii) expenses of clinical studies for product line extensions (additional strengths) of Oxaydo for the United States. Assertio will bear all of the expenses of development and regulatory approval of Oxaydo for sale outside the United States. Assertio is responsible for all manufacturing and commercialization activities in the Territory for Oxaydo. Subject to certain exceptions, Assertio will have final decision making authority with respect to all development and commercialization activities for Oxaydo, including pricing, subject to our co-promotion right. Assertio may develop Oxaydo for other countries and in additional strengths, in its discretion. Assertio paid us a $5.0 million license fee upon signing of the Assertio Agreement and on October 9, 2015, paid us a $2.5 million milestone in connection with the first commercial sale of Oxaydo. We will be entitled to a one-time $12.5 million sales-based milestone payment when worldwide Oxaydo net sales reach $150 million in a calendar year. We are entitled to receive from Assertio a stepped royalty at percentage rates ranging from mid-single digits to double-digits based on Oxaydo net sales during each calendar year (excluding net sales resulting from our co-promotion efforts). In any calendar year of the agreement in which net sales exceed a specified threshold, we will receive a double digit royalty on all Oxaydo net sales in that year (excluding net sales resulting from our co-promotion efforts). If we exercise our co-promotion rights, we will receive a share of the gross margin attributable to incremental Oxaydo net sales from our co-promotion activities. Assertio’s royalty payment obligations commenced on the first commercial sale of Oxaydo and expire, on a country-by-country basis, upon the expiration of the last to expire valid patent claim covering Oxaydo in such country (or if there are no patent claims in such country, then upon the expiration of the last valid claim in the United States or the date when no valid and enforceable listable patent in the FDA’s Orange Book remains with respect to Oxaydo). Royalties will be reduced upon the entry of generic equivalents, as well as for payments required to be made by Assertio to acquire intellectual property rights to commercialize Oxaydo, with an aggregate minimum floor. The Assertio Agreement expires upon the expiration of Assertio’s royalty payment obligations in all countries. Either party may terminate the Assertio Agreement in its entirety if the other party breaches a payment obligation, or otherwise materially breaches the Assertio Agreement, subject to applicable cure periods, or in the event the other party makes an assignment for the benefit of creditors, files a petition in bankruptcy or otherwise seeks relief under applicable bankruptcy laws. We also may terminate the Assertio Agreement with respect to the U.S. and other countries if Assertio materially breaches its commercialization obligations. Assertio may terminate the Assertio Agreement for convenience on 120 days prior written notice, which termination may not occur prior to the second anniversary of Assertio’s launch of Oxaydo. Termination does not affect a party’s rights accrued prior thereto, but there are no stated payments in connection with termination other than payments of obligations previously accrued. For all terminations (but not expiration), the Assertio Agreement provides for the transition of development and marketing of Oxaydo from Assertio to us, including the conveyance by Assertio to us of the trademarks and all regulatory filings and approvals relating to Oxaydo, and for Assertio’s supply of Oxaydo for a transition period. MainPointe Agreement covering Nexafed Products and assignment thereof to AD Pharma In March 2017, we and MainPointe entered into the MainPointe Agreement, pursuant to which we granted MainPointe an exclusive license to our Impede Technology to commercialize both of our Nexafed and Nexafed Sinus Pressure + Pain product (“Nexafed products”) in the U.S. and Canada. We also conveyed to MainPointe our existing inventory and equipment relating to our Nexafed products. MainPointe is responsible for all development, manufacturing and commercialization activities with respect to products covered by the Agreement. On signing the MainPointe Agreement, MainPointe paid us an upfront licensing fee of $2.5 million. The MainPointe Agreement also provides for our receipt of a 7.5% royalty on net sales of the licensed products. The royalty payment for each product will expire on a country-by-country basis when the Impede® patent rights for such country have expired or are no longer valid; provided that if no Impede patent right exists in a country, then the royalty term for that country will be the same as the royalty term for the United States. After the expiration of a royalty term for a country, MainPointe retains a royalty free license to our Impede® Technology for products covered by the Agreement in such country. MainPointe has the option to expand the licensed territory beyond the United States and Canada to the European Union (and the United Kingdom), Japan and South Korea for payments of $1.0 million, $500 thousand and $250 thousand, respectively. In addition, MainPointe has the option to add to the MainPointe Agreement certain additional products, or Option Products, containing PSE and utilizing the Impede Technology for a fee of $500 thousand per product (for all product strengths). Such Option Products include the product candidate Loratadine with pseudoephedrine. If the territory has been expanded prior to the exercise of a product option, the option fee will be increased to $750 thousand per product. If the territory is expanded after the payment of the $500 thousand product option fee, a one-time $250 thousand fee will be due for each product. If a third party is interested in developing or licensing rights to an Option Product, MainPointe must exercise its option for that product or its option rights for such product will terminate. On June 28, 2019, we granted authority to MainPointe to assign to AD Pharma the option and the right to add, as an Option Product to the Nexafed® Agreement, a Nexafed® 12-hour dosage (an extended-release pseudoephedrine hydrochloride product utilizing the IMPEDE® Technology in 120mg dosage strength. The Option Product exercise price of $500 thousand is waived if the exercise of the option occurs by June 28, 2024 (five years from the effective date of the AD Pharma Agreement). The MainPointe Agreement may be terminated by either party for a material breach of the other party, or by Acura if MainPointe challenges certain of its patents. Upon early termination of the MainPointe Agreement, MainPointe’s licenses to the Impede Technology and all products will terminate. Upon termination, at Acura’s request the parties will use commercially reasonable efforts to transition the Nexafed® and Nexafed® Sinus Pressure + Pain products back to Acura. On January 1, 2020, MainPointe assigned to AD Pharma, with Acura's consent, all of its right, title and interest in the MainPointe Agreement between MainPointe and Acura. KemPharm Agreement Covering Certain Opioid Prodrugs In October 2016, we and KemPharm Inc. (”KemPharm”) entered into a worldwide License Agreement (the “KemPharm Agreement”) pursuant to which we licensed our Aversion® Technology to KemPharm for its use in the development and commercialization of three products using 2 of KemPharm’s prodrug candidates. KemPharm has also been granted an option to extend the KemPharm Agreement to cover two additional prodrug candidates. KemPharm is responsible for all development, manufacturing and commercialization activities. Upon execution of the KemPharm Agreement, KemPharm paid us an upfront payment of $3.5 million. If KemPharm exercises its option to use our Aversion Technology with more than the two licensed prodrugs, then KemPharm will pay us up to $1.0 million for each additional prodrug license. In addition, we will receive from KemPharm a low single digit royalty on commercial sales by KemPharm of products developed using our Aversion Technology under the KemPharm Agreement. KemPharm’s royalty payment obligations commence on the first commercial sale of a product using our Aversion Technology and expire, on a country-by-country basis, upon the expiration of the last to expire patent claim of the Aversion Technology covering a product in such country, at which time the license for the particular product and country becomes fully paid and royalty free. The KemPharm Agreement expires upon the expiration of KemPharm’s royalty payment obligations in all countries. Either party may terminate the KemPharm Agreement in its entirety if the other party materially breaches the KemPharm Agreement, subject to applicable cure periods. Acura or KemPharm may terminate the KemPharm Agreement with respect to the U.S. and other countries if the other party challenges the patents covering the licensed products. KemPharm may terminate the KemPharm Agreement for convenience on ninety (90) days prior written notice. Termination does not affect a party’s rights accrued prior thereto, but there are no stated payments in connection with termination other than payments of obligations previously accrued. For all terminations (but not expiration), the KemPharm Agreement provides for termination of our license grant to KemPharm.

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS	6 Months Ended
	Jun. 30, 2020
REVENUE FROM CONTRACTS WITH CUSTOMERS
REVENUE FROM CONTRACTS WITH CUSTOMERS	NOTE 4 – REVENUE FROM CONTRACTS WITH CUSTOMERS Revenue is recognized when, or as, performance obligations under terms of a contract are satisfied, which occurs when control of the promised service is transferred to a customer. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring services to a customer (“transaction price”). The Company will then recognize as revenue the amount of the transaction price that is allocated to the respective performance obligation when, or as, the performance obligation is satisfied. When determining the transaction price of the contract, an adjustment is made if payment from a customer occurs either significantly before or significantly after performance, resulting in a significant financing component. None of the Company’s licenses and collaboration agreements contained a significant financing component at either June 30, 2020 or December 31, 2019. The Company’s existing license and collaboration agreements may contain a single performance obligation or may contain multiple performance obligations. Those which contain multiple performance obligations will require an allocation of the transaction price based on the estimated relative standalone selling prices of the promised services underlying each performance obligation. The Company’s existing license and collaboration agreements contain customer options for the license of additional products and territories. We determined the option’s standalone selling prices based on the option product’s potential market size in the option territory as compared to the currently licensed product and U.S. territory. Some of our existing license and collaboration agreements contain a license to the technology as well as licenses to tradenames or trademarks. The Company determined that the licenses to the tradenames or trademarks were immaterial in context of the contract. Sales-based Milestones and Royalty Revenues The commercial sales-based milestones and sales royalties earned under the license and collaboration for Oxaydo and sales royalties earned under the license for the Nexafed products, are recorded in the period of the related sales by Assertio and MainPointe. Payments of sales-based milestones are generally due within 30 days after the end of a calendar year. Payments of royalties are generally due within 45 days after the end of a calendar quarter. License and Collaboration Agreement Revenues The achievement of milestones under the Company’s license and collaboration agreements will be recorded as revenue during the period the milestone’s achievement becomes probable, which may result in earlier recognition as compared to the previous accounting standards. The license fee of an option product or option territory under the Company’s license and collaboration agreements will be recorded as revenue when the option is exercised and any obligations on behalf of the Company, such as to transfer know-how, has been fulfilled. The monthly license fee under the Company’s LTX-03 license and collaboration agreement will be recorded as revenue upon the fulfillment of the monthly development activities. The out-of-pocket development expenses under the license and collaboration agreements will be recorded as revenue upon the performance of the service or delivery of the material during the month. On June 28, 2019 we entered into an agreement with AD Pharma for the development and license of LTX-03 (hydrocodone bitartrate with acetaminophen) immediate-release tablets utilizing Acura’s patented LIMITx™ having a monthly license payment of $350 thousand from AD Pharma to us for a period of up to 18 months until November 2020. AD Pharma will pay directly for or reimburse Acura to the extent Acura pay’s for, all out-of-pocket development expenses. The first license payment was received July 2, 2019. Product Sales, net of allowance Nexafed was launched in mid-December 2012 and Nexafed Sinus Pressure + Pain was launched in February 2015. Prior to entering into the MainPointe Agreement in March 2017, we sold our Nexafed products in the United States to wholesale pharmaceutical distributors as well as directly to chain drug stores. Our Nexafed products were sold subject to the right of return usually for a period of up to twelve months after the product expiration. During the second quarter 2020, we reviewed our product sales return allowance liability and recorded a $223 thousand favorable amount to product sales as we believe sufficient time has passed where the Nexafed product is no longer subject to right of return and we estimate no additional product will be returned. At June 30, 2020, our sales return allowance liability is $0 thousand. Disaggregation of Total Revenues The Company has two license agreements for currently marketed products containing its technologies; the Oxaydo product containing the Aversion Technology has been licensed to Assertio and the Nexafed products containing the Impede Technology which have been licensed to MainPointe. The Company has a third license agreement having a product under development, LTX-03, containing its LIMITx™ technology to AD Pharma. We have recorded $1.05 million and $2.1 million of license fees for LTX-03 during the three and six month periods ended June 30, 2020, respectively. On January 1, 2020, MainPointe assigned to AD Pharma, with Acura's consent, all of its right, title and interest in the MainPointe Agreement between MainPointe and Acura. All of the Company's royalty revenues are earned from these two license agreements by the licensee's sale of products in the United States. Royalty revenues by licensee are summarized below: Three months Ended Six months Ended June 30, June 30, 2020 2019 2020 2019 Assertio (Oxaydo) $ 31 $ 43 $ 61 $ 98 MainPointe (Nexafed) 3 3 6 15 Royalty revenues $ 34 $ 46 $ 67 $ 113 Contract Balance and Performance Obligations The Company had no contract assets and contract liability balances under the license and collaboration agreements at either June 30, 2020 or 2019. Contract assets may be reported in future periods under prepaid expenses or other current assets on the consolidated balance sheet. Contract liabilities may be reported in future periods consisting of deferred revenue as presented on the consolidated balance sheet.

RESEARCH AND DEVELOPMENT

RESEARCH AND DEVELOPMENT	6 Months Ended
	Jun. 30, 2020
RESEARCH AND DEVELOPMENT
RESEARCH AND DEVELOPMENT	NOTE 5 – RESEARCH AND DEVELOPMENT Research and Development (“R&D”) costs include internal R&D activities, external Contract Research Organization (“CRO”) services and their clinical research and investigative sites, and other activities. Internal R&D activity costs can include facility overhead, equipment and facility maintenance and repairs, laboratory supplies, pre-clinical laboratory experiments, formulation work, depreciation, salaries, benefits, insurance and share-based compensation expenses. CRO activity costs can include preclinical laboratory experiments and clinical trial studies. Other activity costs can include regulatory consulting, regulatory legal counsel, cost of acquiring, developing and manufacturing pre-clinical trial materials, costs of manufacturing scale-up, and cost sharing expenses under license agreements. Internal R&D costs and other activity costs are charged to expense as incurred. We make payments to the CRO's based on agreed upon terms and may include payments in advance of a study starting date. Payments in advance will be reflected in the consolidated financial statements as prepaid expenses. We review and charge to expense accrued CRO costs and clinical trial study costs based on services performed and rely on estimates of those costs applicable to the stage of completion of a study as provided by the CRO. Our accrued CRO costs are subject to revisions as such studies progress towards completion. Revisions are charged to expense in the period in which the facts that give rise to the revision become known. We did not have prepaid CRO costs or prepaid clinical trial study expenses at June 30, 2020 and 2019. In connection with our development and scale-up of LTX-03 under the AD Pharma Agreement (See Note 3) we have entered into unbilled obligations under non-cancelable arrangements at June 30, 2020 aggregating $467 thousand.

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	6 Months Ended
	Jun. 30, 2020
PROPERTY, PLANT AND EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT	NOTE 6 – PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment is summarized as follows (in thousands): June 30, December 31, 2020 2019 (in thousands) Building and improvements $ 1,273 $ 1,273 Scientific equipment 597 597 Computer hardware and software 106 106 Machinery and equipment 274 274 Land and improvements 162 162 Other personal property 70 70 Office equipment 27 27 Total 2,509 2,509 Less: accumulated depreciation (1,998) (1,969) Net property, plant and equipment $ 511 $ 540 We do not have leasehold improvements nor do we have capitalized leases. Costs of betterments are capitalized while maintenance costs and repair costs are charged to operations as incurred. When a depreciable asset is retired from service, the cost and accumulated depreciation will be removed from the respective accounts. Depreciation expense was $14 thousand and $17 thousand for each of the three month periods ended June 30, 2020 and 2019, respectively. Depreciation expense was $29 thousand and $34 thousand for each of the six month periods ended June 30, 2020 and 2019, respectively.

ACCRUED EXPENSES

ACCRUED EXPENSES	6 Months Ended
	Jun. 30, 2020
ACCRUED EXPENSES
ACCRUED EXPENSES	NOTE 7 – ACCRUED EXPENSES Accrued expenses are summarized as follows (in thousands): June 30, December 31, 2020 2019 (in thousands) Cost sharing expenses under license agreement $ 428 $ 363 Other fees and services 5 15 Payroll, payroll taxes and benefits 42 13 Professional services 120 151 Clinical, non-clinical and regulatory services 20 20 Property taxes 4 9 Franchise taxes 26 14 Total $ 645 $ 585

DEBT

DEBT	6 Months Ended
	Jun. 30, 2020
DEBT
DEBT	NOTE 8 – DEBT Related Party Convertible Loan At December 31, 2018, we had borrowed an aggregate of $4.350 million from Mr. Schutte, a related-party. From January 1, 2019 and through June 27, 2019, we borrowed additional amounts from Mr. Schutte for $650 thousand and issued various promissory notes to him with the same terms and conditions from the previous loans (the Schutte Notes). The Schutte Notes bear interest at prime plus 2.0%, and were to mature on January 2, 2020, at which time all principal and interest was to be due. The Schutte Notes were unsecured until all obligations to Oxford were satisfied at which time we were required to grant a security interest to Mr. Schutte in all of our assets, including our intellectual property. Because we believed the Schutte Notes’ rate of interest was below current market rates for us, we imputed interest on the below market rate element of the loans using the 10.16% interest rate under the Oxford Loan Agreement and this has aggregated to $172 thousand as of December 31, 2018. We recorded these benefits to interest income, with a corresponding like amount as debt discount against the principal amount of the loan. The debt discount will be amortized to interest expense over the term on the loans. At December 31, 2018, the unamortized debt discount balance was $126 thousand and the accrued interest balance was $110 thousand. We recorded a $13 thousand benefit to interest income during 2019 from the $650 thousand borrowings from Mr. Schutte. At June 27, 2019, the unamortized debt discount balance was $73 thousand and the accrued interest balance was $275 thousand. The events of default under the Schutte Notes are limited to bankruptcy defaults and failure to pay interest and principal when due on January 2, 2020. The Schutte Notes could be prepaid at any time in whole or in part. Included in the $4.350 million loan outstanding from Mr. Schutte as of December 31, 2018 was a borrowing of $1.8 million completed on October 5, 2018 of which we used $1.5 million to fully pay-off the debt outstanding under the Oxford Loan Agreement. All our assets are pledged as collateral under the Schutte Notes, including our intellectual property. On June 27, 2019 the aggregate amount of the loans made to the Company by Mr. Schutte aggregated $5.0 million. On June 28, 2019 we restructured the $5.0 million loan to borrow an additional $725 thousand from Mr. Schutte, which was received on July 2, 2019, bringing the aggregate principal of the loans and accrued interest to $6.0 million, and consolidated the loans into a single promissory note with a fixed interest rate of 7.5%, maturity date of July 1, 2023, granted principal and interest conversion rights into shares of our common stock at a price of $0.16 per share, issued a warrant for 10.0 million common shares having an exercise price of $0.01 per share, and granted a security interest in all of the Company’s assets, which includes our intellectual property. The principal amount of the loan is convertible into 37.5 million shares of our common stock. The loan restructuring was accounted for as debt extinguishment. We obtained a valuation of fair value on the modified loan and warrant and the method of accounting for the loan changes resulted in a $2.6 million loss on debt extinguishment. Of the loss on debt extinguishment, $1.145 million was allocated to the warrant, $1.382 million was related to the premium on the convertible loan, and $73 thousand was assignable to write-off of the original loan’s remaining unamortized debt discount. The $6.0 million promissory note, the common stock purchase warrant and the security agreement were all assigned and transferred by Mr. Schutte to AD Pharma on June 28, 2019. The accrued interest balance at June 30, 2020 and December 31, 2019 was $454 thousand and $229 thousand, respectively. The events of default under the $6.0 million note are limited to bankruptcy defaults, failure to pay interest and principal when due on July 1, 2023 or upon failure to meet certain timelines in the AD Pharma Agreement as defined in the loan agreement. The $6.0 million note may be prepaid at any time in whole or in part but only with the consent of the noteholder. Included in the AD Pharma Agreement is the requirement that the NDA for LTX-03 be accepted by the FDA by November 30, 2020, or AD Pharma has the option to terminate the AD Pharma Agreement and take ownership of the LIMITx intellectual property. Importantly, such failure to meet this date will be an event of default under their $6.0 million note to Acura. The NDA acceptance date of November 30, 2020 was predicated upon a timeline prepared at June 28, 2019 which included the purchase and installation of auxiliary production manufacturing equipment. At this time, all auxiliary manufacturing equipment needed for production has been received and installed but recent COVID-19 risk mitigation strategies implemented at the New Jersey based contract manufacturer did delay the installation of the equipment for several weeks. Acura currently expects the submission and FDA acceptance of a new drug application ("NDA") for LTX-03 to occur in the second quarter of 2021, unless additional development delays are experienced. At March 31, 2020 we reclassified the $6.0 million note as a current liability. The Parties are in negotiations to amend the AD Pharma Agreement to extend the date of the FDA acceptance of the NDA for LTX-03 which would allow for these unforeseen delays. AD Pharma has deferred the remittance of the required monthly license payments for May, June, July and August, 2020 pending the completion of these negotiations. Our interest expense for the three and six month months ended June 30, 2020 and 2019 consisted of the following: Three months Ended Six months Ended June 30, June 30, Interest expense: 2020 2019 2020 2019 Related party term loans $ 113 $ 88 $ 225 $ 168 Debt discount — 34 — 66 Financed insurance premiums — 1 — 3 Total interest expense $ 113 $ 123 $ 225 $ 237 Less: imputed interest income on related party loan — (4) — (13) Total interest expense, net $ 113 $ 119 $ 225 $ 224 Paycheck Protection Program On April 13, 2020, the Company received a loan (the "Loan") from JP Morgan Chase Bank in the aggregate amount of $269 thousand, pursuant to the Paycheck Protection Program under Division A, Title I of the CARES Act, which was enacted March 27, 2020. The Loan, in the form of a promissory note, matures on April 8, 2022. Under the terms of the Paycheck Protection Program ("PPP"), certain amounts of the Loan may be forgiven if they are used for qualifying expenses as described in the CARES Act. No assurance is provided that forgiveness for any portion of the Loan will be obtained. To the extent that all or part of the Loan is not forgiven, the Company will be required to make payments, including interest accruing at an annual rate of 1.0% beginning on the date of disbursement.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2020
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 9 – RELATED PARTY TRANSACTIONS Private Placement with Mr. John Schutte In July 2017, we completed a $4.0 million private placement with Mr. Schutte (sometimes referred to as the “Investor”), consisting of 8,912,655 units (“Units”) of the Company, at a price of $0.4488 per Unit (the “Transaction”). Each Unit consists of one share of common stock and a warrant to purchase one fifth (0.2) of a share of common stock. The issue price of the Units was equal to 85% of the average last sale price of our common stock for the five trading days prior to completion of the Transaction. The warrants are immediately exercisable for 1,782,532 common shares at a price of $0.528 per share (which equals the average last sale price of the Company’s common stock for the five trading days prior to completion of the Transaction) and expire five years after issuance (subject to earlier expiration in event of certain acquisitions). We have assigned a relative fair value of $495 thousand to the warrants out of the total $4.0 million proceeds from the private placement transaction and have accounted these warrants as equity. The Transaction was completed through a private placement to an accredited investor and was exempt from registration pursuant to Section 4(2) of the Securities Act of 1933, as amended and/or Regulation D promulgated under the Securities Act of 1933. MainPointe Pharmaceuticals LLC Investor is a principal of MainPointe Pharmaceuticals LLC, a Kentucky limited liability company (“MainPointe”). In March 2017, we granted MainPointe an exclusive license to our Impede Technology to commercialize our Nexafed® and Nexafed® Sinus Pressure + Pain Products in the United States and Canada for an upfront licensing fee of $2.5 million plus approximately $309 thousand for transferred inventory and equipment. The Company is receiving a 7.5% royalty on sales of licensed products. MainPointe also has options to expand the territory and products covered for additional sums. Included in the reported royalty revenue for the six months ended 2020 and 2019 is $6 thousand and $15 thousand, respectively, of royalty revenue from MainPointe (See Note 3). On January 1, 2020, MainPointe assigned to AD Pharma, with Acura’s consent, all of its right, title and interest in the MainPointe Agreement between MainPointe and Acura. As part of the closing of the Transaction, the Company and Essex Woodlands Health Ventures V, L.P. (“Essex”) and Galen Partners III, L.P. (“Galen”) amended and restated the existing Voting Agreement including such parties to provide for the Investor to join as a party (as so amended, the “Second Amended and Restated Voting Agreement”). The Second Amended and Restated Voting Agreement provides that our Board of Directors shall remain comprised of no more than seven members (subject to certain exceptions), (i) one of whom is the Company’s Chief Executive Officer, (ii) three of whom are independent under Nasdaq standards, and (iii) one of whom shall be designated by each of Essex, Galen and Investor, and the parties to such agreement would vote for such persons. The right of each of Essex, Galen and Investor to designate one director to our Board will continue as long as he or it and their affiliates collectively hold at least 600,000 shares of our common stock (including warrants exercisable for such shares). Immanuel Thangaraj is the designee of Essex. Investor has not designated a director as of the date of filing of this Report. Galen had not designated a director and lost that right in December 2017 when it disposed of its shares of common stock in the Company. Once such shareholder no longer holds such securities, the additional forfeited seat would become a seat for an independent director to thereafter be nominated to the Board of Directors from time to time by the then current directors and as applicable, to be elected by the directors to fill the vacancy created by the forfeited seat or submitted to the vote of shareholders at the Company’s next annual meeting. An independent director has not been named to fill the seat forfeited by Galen. Loans with Mr. John Schutte During the period January 1, 2019 through June 27, 2019 we borrowed an aggregate of $650 thousand from Mr. John Schutte. On June 28, 2019 we borrowed an additional $725 thousand from Mr. Schutte, bringing the aggregate principal of the loans and accrued interest to $6.0 million, and consolidated the loans into a single promissory note with a fixed interest rate of 7.5%, maturity date of July 1, 2023, granted conversion rights of principal and interest into shares of our common stock at a price of $0.16 per share, issued a warrant for 10.0 million common shares having an exercise price of $0.01 per share, and granted a security interest in all of the Company’s assets, which includes our intellectual property. The principal amount of the note is convertible into 37.5 million shares of our common stock. The $6.0 million promissory note, the common stock purchase warrant and the security agreement were all assigned and transferred by Mr. Schutte to AD Pharma on June 28, 2019. AD Pharma Agreement covering LTX-03 On June 28, 2019, we entered into a License, Development and Commercialization Agreement (the "AD Pharma Agreement") with Abuse Deterrent Pharma, LLC (“AD Pharma”), a special purpose company representing a consortium of investors that will finance Acura’s operations and completion of development of LTX-03 (hydrocodone bitartrate with acetaminophen) immediate-release tablets utilizing Acura’s patented LIMITx™ technology which addresses the consequences of excess oral administration of opioid tablets, the most prevalent route of opioid overdose and abuse. The AD Pharma Agreement grants AD Pharma exclusive commercialization rights in the United States to LTX-03. Financial arrangements include: · Monthly license payments to Acura by AD Pharma of $350 thousand up to the earlier of 18 months or FDA’s acceptance of a New Drug Application (“NDA”) for LTX-03; · Reimbursement by AP Pharma of Acura’s LTX-03 outside development expenses; · Upon commercialization of LTX-03, Acura receives stepped royalties on sales and is eligible for certain sales related milestones; and · Acura authorizes MainPointe to assign to AD Pharma the option and the right to add, as an Option Product to the Nexafed® Agreement, a Nexafed® 12-hour dosage (an extended-release pseudoephedrine hydrochloride product utilizing the IMPEDE® Technology in 120mg dosage strength). AD Pharma may terminate the AD Pharma Agreement at any time. Additionally, if the NDA for LTX-03 is not accepted by the FDA by November 30, 2020, AD Pharma has the option to terminate the AD Pharma Agreement and take ownership of the intellectual property. Should AD Pharma choose not to exercise this option to terminate and the NDA for LTX-03 is subsequently accepted by the FDA, such option expires. The NDA acceptance date of November 30, 2020 was predicated upon a timeline prepared at June 28, 2019 which included the purchase and installation of auxiliary production manufacturing equipment. At this time, all auxiliary manufacturing equipment needed for production has been received and installed but recent COVID-19 risk mitigation strategies implemented at the New Jersey based contract manufacturer did delay the installation of the equipment for several weeks. Acura currently expects the submission and FDA acceptance of a new drug application ("NDA") for LTX-03 to occur in the second quarter of 2021, unless additional development delays are experienced. The Parties are in negotiations to amend the AD Pharma Agreement to extend the date of the FDA acceptance of the NDA for LTX-03 which would allow for these unforeseen delays. AD Pharma has deferred the remittance of the required monthly license payments for May, June, July and August, 2020 pending the completion of these negotiations. We also granted authority to MainPointe Pharmaceuticals, LLC (MainPointe) to assign to AD Pharma the option and the right to add, as an Option Product to the Nexafed® Agreement, a Nexafed® 12-hour dosage (an extended-release pseudoephedrine hydrochloride product utilizing the IMPEDE® Technology in 120mg dosage strength). In March 2017, we granted MainPointe an exclusive license to our IMPEDE ® Technology to commercialize our Nexafed® and Nexafed® Sinus Pressure + Pain Products in the United States and Canada. On January 1, 2020, MainPointe assigned to AD Pharma, with Acura’s consent, all of its right, title and interest in the MainPointe Agreement between MainPointe and Acura dated March 16, 2017.

COMMON STOCK PURCHASE WARRANTS

COMMON STOCK PURCHASE WARRANTS	6 Months Ended
	Jun. 30, 2020
COMMON STOCK PURCHASE WARRANTS
COMMON STOCK PURCHASE WARRANTS	NOTE 10 – COMMON STOCK PURCHASE WARRANTS Our warrant activity during the six month periods ended June 30, 2020 and 2019 is shown below (in thousands except price data): December 31, 2020 2019 WAvg WAvg Exercise Exercise Number Price Number Price Outstanding, Jan. 1 11,842 $ 0.10 1,842 $ 0.59 Issued — — 10,000 0.01 Exercised — — — — Expired — — — — Modification — — — — Outstanding, Jun. 30 11,842 $ 0.10 11,842 $ 0.10 In connection with the issuance of the $10.0 million secured promissory notes in December 2013, we issued common stock purchase warrants (“warrants”) exercisable for 60 thousand shares of our common stock having an exercise price of $2.52 per share (after giving effect to our one-for-five reverse stock split) with an expiration date in December 2020. These warrants contain a cashless exercise feature (See Note 8). As part of our July 2017 private placement transaction with Mr. Schutte, we issued warrants to purchase 1,782,531 shares of our common stock. The warrants are immediately exercisable at a price of $0.528 per share and expire five years after issuance (See Note 9). We have assigned a relative fair value of $495 thousand to the warrants out of the total $4.0 million proceeds from the private placement transaction and have accounted for these warrants as equity. On June 28, 2019 as part of the changes made to the loan agreements we had with Mr. Schutte, each having an original due date of January 2, 2020, we issued to him a warrant to purchase 10.0 million shares of our common stock exercisable at a price of $0.01 per share and expire five years after issuance. We obtained a valuation of fair value on the warrant and $1.145 million was allocated to the warrant and accounted for as equity. (See Note 8 and Note 9). The warrant was assigned and transferred by Mr. Schutte to AD Pharma on June 28, 2019.

SHARE-BASED COMPENSATION EXPENS

SHARE-BASED COMPENSATION EXPENSE	6 Months Ended
	Jun. 30, 2020
SHARE-BASED COMPENSATION EXPENSE
SHARE-BASED COMPENSATION EXPENSE	NOTE 11 – SHARE-BASED COMPENSATION EXPENSE We have several share-based compensation plans covering stock options and RSUs for our employees and directors. We measure our compensation cost related to share-based payment transactions based on fair value of the equity or liability classified instrument. For purposes of estimating the fair value of each stock option unit on the date of grant, we utilize the Black-Scholes option-pricing model. Option valuation models require the input of highly subjective assumptions including the expected volatility factor of the market price of our common stock (as determined by reviewing our historical public market closing prices). Our accounting for share-based compensation for RSUs is based on the closing market price of our common stock on the date of grant. Our total share-based compensation expense recognized in the Company’s results of operations from non-cash and cash-portioned instruments issued to our employees and directors comprised the following (in thousands): Three months Ended Six months Ended June 30, June 30, 2020 2019 2020 2019 (in thousands) Research and development costs: Stock options $ — $ 2 $ — $ 4 Restricted stock units — 4 — 8 Subtotal $ — $ 6 $ — $ 12 General and administrative costs: Stock options $ — $ 4 $ — $ 6 Restricted stock units 18 23 33 50 Subtotal 18 27 33 56 Total $ 18 $ 33 $ 33 $ 68 Stock Option Plans We maintain various stock option plans. A summary of our stock option plans as of June 30, 2020 and 2019 and for the six months then ended consisted of the following (in thousands except exercise price): Six Months ended June 30, 2020 2019 Weighted Weighted Number Average Average of Exercise Number of Exercise Options Price Options Price Outstanding, Jan. 1 1,356 $ 4.45 1,560 $ 7.38 Granted — — — — Exercised — — — — Forfeited — — — — Expired (12) 27.35 (170) 30.83 Outstanding, Jun. 30 1,344 $ 4.24 1,390 $ 4.44 Exercisable, Jun. 30 1,344 $ 4.24 1,158 $ 5.30 We estimate the option’s fair value on the date of grant using the Black-Scholes option-pricing model. Black-Scholes utilizes assumptions related to expected term, forfeitures, volatility, the risk-free interest rate, the dividend yield (which is assumed to be zero, as we have not paid any cash dividends) and employee exercise behavior. Expected volatilities utilized in the Black-Scholes model are based on the historical volatility of our common stock price. The risk-free interest rate is derived from the U.S. Treasury yield curve in effect at the time of grant. The expected life of the grants is derived from historical exercise activity. Historically, the majority of our stock options have been held until their expiration date. The intrinsic value contained in the stock option awards which are vested and outstanding at June 30, 2020 was $44 thousand. Restricted Stock Unit Award Plans We have two Restricted Stock Unit Award Plans for our employees and non-employee directors, a 2017 Restricted Stock Unit Award Plan (the “2017 RSU Plan”) and a 2014 Restricted Stock Unit Award Plan (the “2014 RSU Plan”). Vesting of an RSU entitles the holder to receive a share of our common stock on a distribution date. Our non-employee director awards allow for non-employee directors to receive payment in cash, instead of stock, for up to 40% of each RSU award. The portion of the RSU awards subject to cash settlement are recorded as a liability in the Company’s consolidated balance sheet as they vest and being marked-to-market each reporting period until they are distributed. The liability was $15 thousand and $29 thousand at June 30, 2020 and December 31, 2019, respectively. The compensation cost to be incurred on a granted RSU without a cash settlement option is the RSU’s fair value, which is the market price of our common stock on the date of grant, less its exercise cost. The compensation cost is amortized to expense and recorded to additional paid-in capital over the vesting period of the RSU award. A summary of the grants under the RSU Plans as of June 30, 2020 and 2019, and for the six months then ended consisted of the following (in thousands): Six Months Ended June 30, 2020 2019 Number of Number of Number Vested Number of Vested of RSUs RSUs RSUs RSUs Outstanding, Jan. 1 1,017 1,017 951 459 Granted 219 — 333 — Distributed (397) (397) (267) (267) Vested — 110 — 166 Forfeited — — — — Outstanding, Jun. 30 839 730 1,017 358 2017 Restricted Stock Unit Award Plan Our 2017 RSU Plan was approved by shareholders in November 2017 and permits the grant of up to 1.5 million shares of our common stock pursuant to awards under the 2017 RSU Plan. As of June 30, 2020, no shares remain available for award under the 2017 RSU Plan. Information about the awards under the 2017 RSU Plan is as follows: · In December 2017, we awarded 200 thousand RSUs to our employees. Such RSU awards vested 100% after one full year of service. Distributions of the vested RSU awards to the employees will be made in three equal installments on the first business day of each of January 2020, 2021, and 2022 or earlier upon a qualifying change of control. · In January 2018, we awarded approximately 67 thousand RSUs to each of our four non-employee directors which also allow for them to receive payment in cash, instead of stock, for up to 40% of each RSU award. Such awards vest 25% at the end of each calendar quarter in 2018. Settlement of this RSU award occurred on January 2, 2019, the first business day of the year after vesting. The portion of the RSU awards which are subject to cash settlement are also subject to marked-to market accounting having a liability recorded on the Company’s consolidated balance sheet with quarterly adjustments recorded to stock compensation expense in the general and administration operating category of our income statement. · In December 2018, we awarded 488 thousand RSUs to our employees. Such RSU awards vested 100% after one full year of service. Distributions of the vested RSU awards to the employees will be made in three equal installments on the first business day of each of January 2021, 2022, and 2023 or earlier upon a qualifying change of control. · In January 2019, we awarded approximately 83 thousand RSUs to each of our four non-employee directors which also allow for them to receive payment in cash, instead of stock, for up to 40% of each RSU award. Such awards vest 25% at the end of each calendar quarter in 2019. Settlement of this RSU award occurred on January 2, 2020, the first business day of the year after vesting. The portion of the RSU awards which were subject to cash settlement was also subject to marked-to market accounting having a liability recorded on the Company’s consolidated balance sheet with quarterly adjustments which were recorded to stock compensation expense in the general and administration operating category of our income statement. · In January 2020, we awarded approximately 55 thousand RSUs to each of our four non-employee directors which also allow for them to receive payment in cash, instead of stock, for up to 40% of each RSU award. Such awards vest 25% at the end of each calendar quarter in 2020. Settlement of this RSU award will occur on January 4, 2021, the first business day of the year after vesting. The portion of the RSU awards which are subject to cash settlement will also be subject to marked-to market accounting having a liability recorded on the Company’s consolidated balance sheet with quarterly adjustments recorded to stock compensation expense in the general and administration operating category of our income statement. Information about the distribution of shares under the 2017 RSU Plan is as follows: · In January 2019, 267 thousand RSUs were distributed to our non-employee directors from their January 2018 award and settled in common stock. · In January 2020, 333 thousand RSUs were distributed to our non-employee directors from their January 2019 award with 296 thousand RSUs settled in common stock, 4 thousand RSUs used to settle the purchase price and 33 thousand RSUs settled in cash. · In January 2020, 64 thousand RSUs were distributed to our current and former employees representing one third of their 2017 award with 54 thousand RSUs settled in common stock and 10 thousand RSUs used to settle the purchase price and employee withholding taxes. 2014 Restricted Stock Unit Award Plan Our 2014 RSU Plan was approved by shareholders in May 2014 and permits the grant of up to 400 thousand shares of our common stock pursuant to awards under the 2014 RSU Plan. As of December 31, 2019, there were no longer shares available for award under the 2014 RSU Plan.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2020
INCOME TAXES
INCOME TAXES	NOTE 12 – INCOME TAXES We account for income taxes under the liability method. Under this method, deferred income tax assets and liabilities are determined based on differences between financial reporting and income tax basis of assets and liabilities and are accounted for using the enacted income tax rates and laws that will be in effect when the differences are expected to reverse. Deferred tax assets reflect the tax effects of net operating losses (“NOLs”), tax credit carryovers, and temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The most significant item of our deferred tax assets is derived from our Federal NOLs. We have approximately $167.8 million gross Federal NOLs at June 30, 2020 (of which approximately $160.2 million was generated prior to January 1, 2018). Because we believe the ability for us to use these NOLs generated prior to January 1, 2018 to offset any future taxable income is severely limited as prescribed under Internal Revenue Code (“IRC”) Section 382, we had estimated and recorded an amount for the likely limitation to our deferred tax asset in the fourth quarter of 2017, thereby reducing the aggregate estimated benefit of the Federal NOLs available to us of approximately $1.0 million at December 31, 2017. We believe the gross Federal NOL benefit we generated prior to January 1, 2018 to offset taxable income is less than $150 thousand annually. As prescribed under Internal Revenue Code, any unused Federal NOL benefit from the annual limitation can be accumulated and carried forward to the subsequent year and will expire if not used in accordance with the NOL carried forward term of 20 years or 2037, if generated before 2018 and Federal NOLs generated after 2017 can be carried forward indefinitely. Future common stock transactions, such as the exercise of common stock purchase warrants or the conversion of debt into common stock, may cause another qualifying event under IRC 382 which may further limit our utilization of our NOLs. The realization of deferred income tax assets is dependent upon future earnings, if any, and the timing and amount of which may be uncertain. A valuation allowance is required against deferred income tax assets if, based on the weight of available evidence, it is more likely than not that some or all of the deferred income tax assets may not be realized. At both June 30, 2020 and December 31, 2019, all our remaining net deferred income tax assets were offset by a valuation allowance due to uncertainties with respect to future utilization of NOL carryforwards. If in the future it is determined that additional amounts of our deferred income tax assets would likely be realized, the valuation allowance would be reduced in the period in which such determination is made and an additional benefit from income taxes in such period would be recognized.

NET EARNINGS (LOSS) PER SHARE

NET EARNINGS (LOSS) PER SHARE	6 Months Ended
	Jun. 30, 2020
NET EARNINGS (LOSS) PER SHARE
NET EARNINGS (LOSS) PER SHARE	NOTE 13 – NET EARNINGS (LOSS) PER SHARE Basic earnings (loss) per share (“EPS”) is computed by dividing net income or loss by the weighted average common shares outstanding during a period, including shares weighted related to both the vested Restricted Stock Units (“RSUs”) which settle in shares (See Note 11) and the common stock warrant exercisable for 10.0 million shares having an exercise price of $0.01 per share (See Note 10). Diluted EPS is based on the treasury stock method and computed based on the same number of shares used in the basic share calculation and includes the effect from potential issuance of common stock, such as shares issuable pursuant to the exercise of stock options, RSUs and stock warrants, assuming complete vesting and the exercise of all in-the-money stock options, RSUs and warrants. Common stock equivalents are excluded from the computation where their inclusion would be anti-dilutive. In any reporting period the Company had a net loss, including the effects of the common stock equivalents in the diluted EPS calculations for these periods would have been antidilutive. The weighted-average common share outstanding diluted computation is not impacted during any period where the exercise price of a stock option, RSU, common stock warrant or convertible loan is greater than the average market closing price of our common stock during such period. A reconciliation of the numerators and denominators of basic and diluted EPS consisted of the following (in thousands except per share data): Three months Ended Six months Ended June 30, June 30, 2020 2019 2020 2019 Earnings (loss) per share – basic Numerator: net income (loss) $ 308 $ (3,341) $ (287) $ (4,129) Denominator (weighted): Common shares 21,650 21,300 21,650 21,300 RSUs – vested 654 242 637 218 Common stock purchase warrants 10,000 330 10,000 166 Basic weighted average shares outstanding 32,304 21,872 32,287 21,684 Earnings (loss) per share – basic $ 0.01 $ (0.15) $ (0.01) $ (0.19) Earnings (loss) per share – diluted Numerator: net income (loss) $ 308 $ (3,341) $ (287) $ (4,129) Denominator (weighted): Common shares 21,650 21,300 21,650 21,300 RSUs 717 242 637 218 Stock options 115 — — — Common stock purchase warrants 10,000 330 10,000 166 Diluted weighted average shares outstanding 32,482 21,872 32,287 21,684 Earnings (loss) per share – diluted $ 0.01 $ (0.15) $ (0.01) $ (0.19) Excluded securities (non-weighted): Common shares issuable: RSUs 153 659 153 659 Stock options 1,121 1,390 1,344 1,390 Common stock purchase warrants 1,842 1,842 1,842 1,842 Convertible loan 37,500 37,500 37,500 37,500 Total excluded potentially dilutive shares 40,616 41,391 40,839 41,391

LICENSE AND COLLABORATION AGR_2

LICENSE AND COLLABORATION AGREEMENTS (Tables)	6 Months Ended
	Jun. 30, 2020
LICENSE AND COLLABORATION AGREEMENTS
Summary of Aversion intangible asset	The Aversion intangible asset is summarized as follows (in thousands): June 30, December 31, 2020 2019 Intangible asset – Aversion 2,000 2,000 Less: accumulated amortization (1,247) (1,190) Less: reserve for impairment (668) — Net $ 85 $ 810

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)	6 Months Ended
	Jun. 30, 2020
REVENUE FROM CONTRACTS WITH CUSTOMERS
Schedule of disaggregation of revenue	Royalty revenues by licensee are summarized below: Three months Ended Six months Ended June 30, June 30, 2020 2019 2020 2019 Assertio (Oxaydo) $ 31 $ 43 $ 61 $ 98 MainPointe (Nexafed) 3 3 6 15 Royalty revenues $ 34 $ 46 $ 67 $ 113

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	6 Months Ended
	Jun. 30, 2020
PROPERTY, PLANT AND EQUIPMENT
Schedule of Property, Plant and equipment	Property, plant and equipment is summarized as follows (in thousands): June 30, December 31, 2020 2019 (in thousands) Building and improvements $ 1,273 $ 1,273 Scientific equipment 597 597 Computer hardware and software 106 106 Machinery and equipment 274 274 Land and improvements 162 162 Other personal property 70 70 Office equipment 27 27 Total 2,509 2,509 Less: accumulated depreciation (1,998) (1,969) Net property, plant and equipment $ 511 $ 540

ACCRUED EXPENSES (Tables)

ACCRUED EXPENSES (Tables)	6 Months Ended
	Jun. 30, 2020
ACCRUED EXPENSES
Schedule of Accrued expenses	Accrued expenses are summarized as follows (in thousands): June 30, December 31, 2020 2019 (in thousands) Cost sharing expenses under license agreement $ 428 $ 363 Other fees and services 5 15 Payroll, payroll taxes and benefits 42 13 Professional services 120 151 Clinical, non-clinical and regulatory services 20 20 Property taxes 4 9 Franchise taxes 26 14 Total $ 645 $ 585

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Jun. 30, 2020
DEBT
Schedule of debt interest expense	Our interest expense for the three and six month months ended June 30, 2020 and 2019 consisted of the following: Three months Ended Six months Ended June 30, June 30, Interest expense: 2020 2019 2020 2019 Related party term loans $ 113 $ 88 $ 225 $ 168 Debt discount — 34 — 66 Financed insurance premiums — 1 — 3 Total interest expense $ 113 $ 123 $ 225 $ 237 Less: imputed interest income on related party loan — (4) — (13) Total interest expense, net $ 113 $ 119 $ 225 $ 224

COMMON STOCK PURCHASE WARRANTS

COMMON STOCK PURCHASE WARRANTS (Tables)	6 Months Ended
	Jun. 30, 2020
COMMON STOCK PURCHASE WARRANTS
Schedule Of Common Stock Warrant Activity	Our warrant activity during the six month periods ended June 30, 2020 and 2019 is shown below (in thousands except price data): December 31, 2020 2019 WAvg WAvg Exercise Exercise Number Price Number Price Outstanding, Jan. 1 11,842 $ 0.10 1,842 $ 0.59 Issued — — 10,000 0.01 Exercised — — — — Expired — — — — Modification — — — — Outstanding, Jun. 30 11,842 $ 0.10 11,842 $ 0.10

SHARE-BASED COMPENSATION EXPE_2

SHARE-BASED COMPENSATION EXPENSE (Tables)	6 Months Ended
	Jun. 30, 2020
SHARE-BASED COMPENSATION EXPENSE
Schedule of employee service share-based compensation, allocation of recognized period costs	Our total share-based compensation expense recognized in the Company’s results of operations from non-cash and cash-portioned instruments issued to our employees and directors comprised the following (in thousands): Three months Ended Six months Ended June 30, June 30, 2020 2019 2020 2019 (in thousands) Research and development costs: Stock options $ — $ 2 $ — $ 4 Restricted stock units — 4 — 8 Subtotal $ — $ 6 $ — $ 12 General and administrative costs: Stock options $ — $ 4 $ — $ 6 Restricted stock units 18 23 33 50 Subtotal 18 27 33 56 Total $ 18 $ 33 $ 33 $ 68
Schedule of share-based compensation, stock option plan activity	A summary of our stock option plans as of June 30, 2020 and 2019 and for the six months then ended consisted of the following (in thousands except exercise price): Six Months ended June 30, 2020 2019 Weighted Weighted Number Average Average of Exercise Number of Exercise Options Price Options Price Outstanding, Jan. 1 1,356 $ 4.45 1,560 $ 7.38 Granted — — — — Exercised — — — — Forfeited — — — — Expired (12) 27.35 (170) 30.83 Outstanding, Jun. 30 1,344 $ 4.24 1,390 $ 4.44 Exercisable, Jun. 30 1,344 $ 4.24 1,158 $ 5.30
Schedule of grants under the RSU Plans	A summary of the grants under the RSU Plans as of June 30, 2020 and 2019, and for the six months then ended consisted of the following (in thousands): Six Months Ended June 30, 2020 2019 Number of Number of Number Vested Number of Vested of RSUs RSUs RSUs RSUs Outstanding, Jan. 1 1,017 1,017 951 459 Granted 219 — 333 — Distributed (397) (397) (267) (267) Vested — 110 — 166 Forfeited — — — — Outstanding, Jun. 30 839 730 1,017 358

NET EARNINGS (LOSS) PER SHARE (

NET EARNINGS (LOSS) PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2020
NET EARNINGS (LOSS) PER SHARE
Schedule of reconciliation of the numerators and denominators of basic and diluted EPS	A reconciliation of the numerators and denominators of basic and diluted EPS consisted of the following (in thousands except per share data): Three months Ended Six months Ended June 30, June 30, 2020 2019 2020 2019 Earnings (loss) per share – basic Numerator: net income (loss) $ 308 $ (3,341) $ (287) $ (4,129) Denominator (weighted): Common shares 21,650 21,300 21,650 21,300 RSUs – vested 654 242 637 218 Common stock purchase warrants 10,000 330 10,000 166 Basic weighted average shares outstanding 32,304 21,872 32,287 21,684 Earnings (loss) per share – basic $ 0.01 $ (0.15) $ (0.01) $ (0.19) Earnings (loss) per share – diluted Numerator: net income (loss) $ 308 $ (3,341) $ (287) $ (4,129) Denominator (weighted): Common shares 21,650 21,300 21,650 21,300 RSUs 717 242 637 218 Stock options 115 — — — Common stock purchase warrants 10,000 330 10,000 166 Diluted weighted average shares outstanding 32,482 21,872 32,287 21,684 Earnings (loss) per share – diluted $ 0.01 $ (0.15) $ (0.01) $ (0.19) Excluded securities (non-weighted): Common shares issuable: RSUs 153 659 153 659 Stock options 1,121 1,390 1,344 1,390 Common stock purchase warrants 1,842 1,842 1,842 1,842 Convertible loan 37,500 37,500 37,500 37,500 Total excluded potentially dilutive shares 40,616 41,391 40,839 41,391

OPERATIONS AND SUMMARY OF SIG_2

OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Nov. 30, 2020	Dec. 31, 2018
Cash	$ (1,038)		$ (15)		$ (1,038)	$ (15)	$ (862)		$ (91)
Working Capital Deficit	5,600				5,600
Retained Earnings (Accumulated Deficit), Total	(388,283)				(388,283)		(387,996)
Operating Income (Loss), Total	(421)		622		62	1,305
Income (loss) from operation					62		725
Net loss	(308)	$ 595	$ 3,341	$ 788	287	$ 4,129	3,800
Convertible debt to related party, net of discounts (Note 8)	$ 6,000				$ 6,000		$ 0
Subsequent event
Aggregate principal of promissory notes and accrued interest								$ 6,000

LICENSE AND COLLABORATION AGR_3

LICENSE AND COLLABORATION AGREEMENTS - Intangible asset (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
LICENSE AND COLLABORATION AGREEMENTS
Intangible asset - Aversion	$ 2,000	$ 2,000
Less: accumulated amortization	(1,247)	(1,190)
Less: reserve for impairment	(668)
Finite-Lived Intangible Assets, Net, Total	$ 85	$ 810

LICENSE AND COLLABORATION AGR_4

LICENSE AND COLLABORATION AGREEMENTS (Details) - USD ($) $ in Thousands, shares in Millions	Jun. 28, 2019	Oct. 09, 2015	Mar. 31, 2017	Oct. 31, 2016	Apr. 30, 2014	Mar. 31, 2020	Jun. 30, 2020	Jun. 30, 2019
License Development and Commercialization Agreement [Line Items]
Payment for Termination					$ 2,000
Minimum Net Sales Reaching Description							one-time $12.5 million sales-based milestone payment when worldwide Oxaydo net sales reach $150 million in a calendar year
Agreement Termination Notice Description							Assertio may terminate the Assertio Agreement for convenience on 120 days prior written notice, which termination may not occur prior to the second anniversary of Assertio's launch of Oxaydo. Termination does not affect a party's rights accrued prior thereto, but there are no stated payments in connection with termination other than payments of obligations previously accrued. For all terminations (but not expiration), the Assertio Agreement provides for the transition of development and marketing of Oxaydo from Assertio to us, including the conveyance by Assertio to us of the trademarks and all regulatory filings and approvals relating to Oxaydo, and for Assertio's supply of Oxaydo for a transition period
Proceeds from Milestone Payment On Agreement		$ 2,500
Monthly license payment receivable		$ 5,000
Finite-Lived Intangible Asset, Useful Life					9 years 8 months 12 days
Amortization of Intangible Assets							$ 57	$ 103
Impairment charge against the intangible asset						$ 668	668
Expected amortization expense for patents per quarter.							$ 6
Patents [Member]
License Development and Commercialization Agreement [Line Items]
Payment for Termination					$ 2,000
AD Pharma Agreement
License Development and Commercialization Agreement [Line Items]
Monthly license payment receivable	$ 350
Period until which monthly license payment is receivable	18 months
Schutte | AD Pharma Agreement
License Development and Commercialization Agreement [Line Items]
Percentage of common stock held	45.70%
Abuse Deterrent Pharma, LLC
License Development and Commercialization Agreement [Line Items]
Monthly license payment receivable	$ 350
Abuse Deterrent Pharma, LLC | AD Pharma Agreement
License Development and Commercialization Agreement [Line Items]
Monthly license payment receivable	$ 350
Period until which monthly license payment is receivable	18 months						5 years
Waiver of exercise price if exercise of option occurs by certain date	$ 500
MainPointe Pharmaceuticals, LLC | AD Pharma Agreement
License Development and Commercialization Agreement [Line Items]
Waiver of exercise price if exercise of option occurs by certain date	$ 500
Period from effective date for exercise of option	5 years
Schutte
License Development and Commercialization Agreement [Line Items]
Aggregate principal of promissory notes and accrued interest	$ 6,000
Debt Conversion, Converted Instrument, Warrants or Options Issued	10
Schutte | AD Pharma Agreement
License Development and Commercialization Agreement [Line Items]
Aggregate principal of promissory notes and accrued interest	$ 6,000
Debt Conversion, Converted Instrument, Warrants or Options Issued	10
MainPointe (Nexafed)
License Development and Commercialization Agreement [Line Items]
Monthly license payment receivable			$ 2,500
Licensing Agreement, Royalty Percentage			7.50%
License Agreement Option Products Description			In addition, MainPointe has the option to add to the MainPointe Agreement certain additional products, or Option Products, containing PSE and utilizing the Impede Technology for a fee of $500 thousand per product (for all product strengths). Such Option Products include the product candidate Loratadine with pseudoephedrine. If the territory has been expanded prior to the exercise of a product option, the option fee will be increased to $750 thousand per product. If the territory is expanded after the payment of the $500 thousand product option fee, a one-time $250 thousand fee will be due for each product. If a third party is interested in developing or licensing rights to an Option Product, MainPointe must exercise its option for that product or its option rights for such product will terminate.
MainPointe (Nexafed) | UNITED KINGDOM
License Development and Commercialization Agreement [Line Items]
Monthly license payment receivable			$ 1,000
MainPointe (Nexafed) | JAPAN
License Development and Commercialization Agreement [Line Items]
Monthly license payment receivable			500
MainPointe (Nexafed) | South Korea [Member]
License Development and Commercialization Agreement [Line Items]
Monthly license payment receivable			$ 250
Kempharm Agreement [Member]
License Development and Commercialization Agreement [Line Items]
Monthly license payment receivable				$ 3,500
Kempharm Agreement [Member] | Minimum
License Development and Commercialization Agreement [Line Items]
Additional Upfront Payment Receivable				$ 1,000

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Royalty revenues	$ 34	$ 46	$ 67	$ 113
Assertio (Oxaydo)
Royalty revenues	31	43	61	98
MainPointe (Nexafed)
Royalty revenues	$ 3	$ 3	$ 6	$ 15

REVENUE FROM CONTRACTS WITH C_4

REVENUE FROM CONTRACTS WITH CUSTOMERS - Additional Information (Details) - USD ($) $ in Thousands	Jun. 28, 2019	Oct. 09, 2015	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Contract Balance And Performance Obligations description					The Company had no contract assets and contract liability balances under the license and collaboration agreements at either June 30, 2020 or 2019.
Monthly license payment receivable		$ 5,000
Product sales return allowance liability			$ 223	$ 0	$ 223	$ 0
Sales return allowance liability			0		0		$ 223
License fees received			$ 1,050	$ 0	$ 2,100	$ 0
AD Pharma Agreement
Monthly license payment receivable	$ 350
Period until which monthly license payment is receivable	18 months
Abuse Deterrent Pharma, LLC
Monthly license payment receivable	$ 350
Abuse Deterrent Pharma, LLC | AD Pharma Agreement
Monthly license payment receivable	$ 350
Period until which monthly license payment is receivable	18 months				5 years

RESEARCH AND DEVELOPMENT (Detai

RESEARCH AND DEVELOPMENT (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
AD Pharma Agreement
Financing Receivable, Impaired [Line Items]
Non-cancelable arrangements	$ 467

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Total	$ 2,509	$ 2,509
Less: accumulated depreciation	(1,998)	(1,969)
Net property, plant and equipment	511	540
Building and improvements
Property, Plant and Equipment [Line Items]
Total	1,273	1,273
Scientific equipment
Property, Plant and Equipment [Line Items]
Total	597	597
Computer hardware and software
Property, Plant and Equipment [Line Items]
Total	106	106
Machinery and equipment
Property, Plant and Equipment [Line Items]
Total	274	274
Land and improvements
Property, Plant and Equipment [Line Items]
Total	162	162
Other personal property
Property, Plant and Equipment [Line Items]
Total	70	70
Office equipment
Property, Plant and Equipment [Line Items]
Total	$ 27	$ 27

PROPERTY, PLANT AND EQUIPMENT -

PROPERTY, PLANT AND EQUIPMENT - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
PROPERTY, PLANT AND EQUIPMENT
Depreciation	$ 14	$ 17	$ 29	$ 34

ACCRUED EXPENSES (Details)

ACCRUED EXPENSES (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
ACCRUED EXPENSES
Cost sharing expenses under license agreements	$ 428	$ 363
Other fees and services	5	15
Payroll, payroll taxes and benefits	42	13
Professional services	120	151
Clinical, non-clinical and regulatory services	20	20
Property taxes	4	9
Franchise taxes	26	14
Total	$ 645	$ 585

DEBT - Interest Expense (Detail

DEBT - Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
DEBT
Related party term loans	$ 113	$ 88	$ 225	$ 168
Debt discount	0	34		66
Financed insurance premiums	0	1		3
Total interest expense	113	123	225	237
Less: imputed interest income on related party loans	0	(4)		(13)
Total interest expense, net	$ 113	$ 119	$ 225	$ 224

DEBT - Additional Information (

DEBT - Additional Information (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Jan. 02, 2020	Jun. 28, 2019	Jun. 27, 2019	Oct. 05, 2018	Jun. 28, 2018	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Jun. 27, 2019	Dec. 31, 2019	Dec. 31, 2018	Jun. 28, 2020	Apr. 13, 2020	Mar. 31, 2020	Jul. 02, 2019
Debt Instrument [Line Items]
Amount borrowed from related party									$ 1,650
Write-off of unamortized debt discount									70
Gain (Loss) on Extinguishment of Debt						$ 0	$ (2,600)	$ 0	$ (2,600)
Debt, net of discounts (Note 7)						6,000		6,000			$ 0
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 0.01
Related party loans made to Company						5,000		5,000					$ 5,000
Schutte
Debt Instrument [Line Items]
Amount borrowed from related party										$ 650		$ 4,350
Spread on variable rate	2.00%
Debt instrument principal amount			$ 5,000							5,000
Unamortized debt discount balance												126
Proceeds from Issuance of Long-term Debt		$ 725	650							650
Accrued interest balance						$ 454		$ 454			229	110
Benefit to interest income											$ 13
Amount allocated to warrant					$ 1,145
Write-off of unamortized debt discount		73	73
Aggregate principal of promissory notes and accrued interest		$ 6,000
Debt instrument, interest rate, stated percentage		7.50%
Debt instrument unamortized discount												126
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 0.01
Debt Conversion, Converted Instrument, Shares Issued		37,500
Debt Conversion, Converted Instrument, Warrants or Options Issued		10,000
Share Price		$ 0.16
Debt Instrument, Increase, Accrued Interest			275
Schutte Note [Member]
Debt Instrument [Line Items]
Debt instrument principal amount			$ 5,000							$ 5,000
Proceeds from Issuance of Long-term Debt		$ 725
Amount allocated to warrant		1,145
Premium on convertible loan		1,382
Aggregate principal of promissory notes and accrued interest		$ 6,000														$ 6,000
Debt instrument, interest rate, stated percentage		7.50%
Gain (Loss) on Extinguishment of Debt		$ (2,600)
Debt, net of discounts (Note 7)															$ 6,000
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 0.01				$ 0.01		$ 0.01
Debt Conversion, Converted Instrument, Shares Issued		37,500
Debt Conversion, Converted Instrument, Warrants or Options Issued		10,000						10,000
Share Price		$ 0.16
Oxford Loan Agreement
Debt Instrument [Line Items]
Debt instrument principal amount												$ 172
Debt instrument, interest rate, stated percentage												10.16%
Oxford Loan Agreement | Schutte
Debt Instrument [Line Items]
Amount borrowed from related party												$ 1,800
Repayments of Debt				$ 1,500
Oxford Loan Agreement | Schutte Note [Member] | Schutte
Debt Instrument [Line Items]
Amount borrowed from related party												$ 4,350
PPP Loan
Debt Instrument [Line Items]
Debt instrument principal amount														$ 269
Debt instrument, interest rate, stated percentage														1.00%
Common stock purchase warrants
Debt Instrument [Line Items]
Warrants to purchase common stock						60		60
Class of Warrant or Right, Exercise Price of Warrants or Rights						$ 2.52		$ 2.52

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 28, 2019	Jun. 27, 2019	Oct. 09, 2015	Jul. 31, 2017	Mar. 31, 2017	Sep. 30, 2019	Sep. 30, 2018	Jun. 30, 2020	Jun. 30, 2019	Jun. 27, 2019	Dec. 31, 2019
Related Party Transaction [Line Items]
Number Of Common Stock Need To Hold To Designate As Director				600,000
Proceeds from License Fees Received			$ 5,000
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 0.01
Warrant to purchase shares of common stock	10,000,000
Class Of Warrants Or Rights, Expiry Period				5 years
Royalty Receivable								$ 30			$ 82
AD Pharma Agreement
Related Party Transaction [Line Items]
Proceeds from License Fees Received	$ 350
Period until which monthly license payment is receivable	18 months
MainPointe (Nexafed)
Related Party Transaction [Line Items]
Proceeds from License Fees Received					$ 2,500
Asset Transferred, License Agreement					$ 309
Licensing Agreement, Royalty Percentage					7.50%
MainPointe (Nexafed) | Royalty [Member]
Related Party Transaction [Line Items]
Royalty revenues						$ 6	$ 15	6	$ 15
Investor [Member]
Related Party Transaction [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights				$ 0.528
Warrant to purchase shares of common stock				1,782,531
Investor [Member] | Private Placement [Member]
Related Party Transaction [Line Items]
Sale of Stock, Consideration Received on Transaction				$ 4,000
Sale of Stock, Number of Shares Issued in Transaction				8,912,655
Sale of Stock, Price Per Share				$ 0.4488
Class of Warrant or Right, Exercise Price of Warrants or Rights				$ 0.528
Sale Of Stock, Issue Price Description				85%
Warrants Not Settleable in Cash, Fair Value Disclosure								495
Proceeds from Issuance of Warrants								$ 4,000
Warrant to purchase shares of common stock				1,782,532
Schutte
Related Party Transaction [Line Items]
Aggregate principal of promissory notes and accrued interest	$ 6,000
Fixed interest rate	7.50%
Share Price	$ 0.16
Debt Conversion, Converted Instrument, Warrants or Options Issued	10,000,000
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 0.01
Debt Conversion, Converted Instrument, Shares Issued	37,500,000
Proceeds from Issuance of Long-term Debt	$ 725	$ 650								$ 650
Schutte | AD Pharma Agreement
Related Party Transaction [Line Items]
Aggregate principal of promissory notes and accrued interest	$ 6,000
Debt Conversion, Converted Instrument, Warrants or Options Issued	10,000,000
Abuse Deterrent Pharma, LLC
Related Party Transaction [Line Items]
Proceeds from License Fees Received	$ 350
Abuse Deterrent Pharma, LLC | AD Pharma Agreement
Related Party Transaction [Line Items]
Proceeds from License Fees Received	$ 350
Period until which monthly license payment is receivable	18 months							5 years

COMMON STOCK PURCHASE WARRANT_2

COMMON STOCK PURCHASE WARRANTS - Warrant Activity (Details) - Common stock purchase warrants - $ / shares shares in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Number of Options
Number of Options Outstanding, beginning	11,842	1,842
Number of Options, Issued	0	10,000
Number of Options, Exercised	0	0
Number of Options, Expired	0	0
Number of Options, Modification	0	0
Number of Options Outstanding, ending	11,842	11,842
Weighted Average Exercise Price
Weighted Average Exercise Price, beginning	$ 0.10	$ 0.59
Weighted Average Exercise Price, Issued	0	0.01
Weighted Average Exercise Price, Exercised	0	0
Weighted Average Exercise Price, Expired	0	0
Weighted Average Exercise Price, Modification	0	0
Weighted Average Exercise Price, ending	$ 0.10	$ 0.10

COMMON STOCK PURCHASE WARRANT_3

COMMON STOCK PURCHASE WARRANTS - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 28, 2018	Jul. 31, 2017	Jun. 30, 2020	Jun. 28, 2019	Dec. 31, 2013
Class of Warrant or Right [Line Items]
Warrant to purchase shares of common stock				10,000,000
Warrants expiration term				5 years
Class of Warrant or Right, Exercise Price of Warrants or Rights				$ 0.01
Secured Debt					$ 10,000
Class Of Warrant Or Right Term			5 years
Stock Issued During Period, Value, New Issues		$ 4,000
Private Placement [Member]
Class of Warrant or Right [Line Items]
Stock Issued During Period, Value, New Issues		$ 495
Investor [Member]
Class of Warrant or Right [Line Items]
Warrant to purchase shares of common stock		1,782,531
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 0.528
Investor [Member] | Private Placement [Member]
Class of Warrant or Right [Line Items]
Warrant to purchase shares of common stock		1,782,532
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 0.528
Schutte
Class of Warrant or Right [Line Items]
Amount allocated to warrant	$ 1,145
Class of Warrant or Right, Exercise Price of Warrants or Rights				$ 0.01
Common stock purchase warrants
Class of Warrant or Right [Line Items]
Common stock warrant exercisable outstanding, shares			60,000
Class of Warrant or Right, Exercise Price of Warrants or Rights			$ 2.52

SHARE-BASED COMPENSATION EXPE_3

SHARE-BASED COMPENSATION EXPENSE - Non-Cash Share-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Total Stock Compensation
Allocated Share-based Compensation Expense	$ 18	$ 33	$ 33	$ 68
Research and development costs
Total Stock Compensation
Allocated Share-based Compensation Expense	0	6		12
Research and development costs | Stock options
Total Stock Compensation
Allocated Share-based Compensation Expense	0	2		4
Research and development costs | Restricted stock units
Total Stock Compensation
Allocated Share-based Compensation Expense	0	4		8
General and administrative costs
Total Stock Compensation
Allocated Share-based Compensation Expense	18	27	33	56
General and administrative costs | Stock options
Total Stock Compensation
Allocated Share-based Compensation Expense	0	4		6
General and administrative costs | Restricted stock units
Total Stock Compensation
Allocated Share-based Compensation Expense	$ 18	$ 23	$ 33	$ 50

SHARE-BASED COMPENSATION EXPE_4

SHARE-BASED COMPENSATION EXPENSE - Stock Option plan activity (Details) - Stock Option Plan [Member] - $ / shares shares in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Share based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options Outstanding, beginning	1,356	1,560	1,560
Number of Options, Expired	12	170
Number of Options Outstanding, ending	1,344	1,390	1,356
Number of Options exercisable	1,344	1,158
Weighted Average Exercise Price, beginning	$ 4.45	$ 7.38	$ 7.38
Weighted Average Exercise Price, Expired	27.35	30.83
Weighted Average Exercise Price, ending	4.24	4.44	$ 4.45
Weighted Average Exercise Price, Options exercisable	$ 4.24	$ 5.30

SHARE-BASED COMPENSATION EXPE_5

SHARE-BASED COMPENSATION EXPENSE - Summary of RSU Plan (Details) - shares shares in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Restricted Stock Units [Member]
Share based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, beginning	1,017	951
Granted	219	333
Distributed	(397)	(267)
Outstanding, ending	839	1,017
Vested Restricted Stock Units (RSUs) [Member]
Share based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, beginning	1,017	459
Distributed	(397)	(267)
Vested	110	166
Outstanding, ending	730	358

SHARE-BASED COMPENSATION EXPE_6

SHARE-BASED COMPENSATION EXPENSE- Additional Information (Details) - USD ($) $ in Thousands

Dec. 31, 2019

Jan. 31, 2020

Jan. 31, 2019

Dec. 31, 2018

Jan. 31, 2018

Dec. 31, 2017

May 31, 2014

Jun. 30, 2020

Jun. 30, 2019

Jun. 30, 2020

Jun. 30, 2019

Nov. 30, 2017

Employee Benefit Plans Disclosure [Line Items]

Aggregate intrinsic value of the option awards vested

$ 44

$ 44

Allocated Share-based Compensation Expense

18

$ 33

33

$ 68

Restricted stock units | Director [Member]

Employee Benefit Plans Disclosure [Line Items]

Deferred Compensation Arrangement with Individual, Recorded Liability

$ 29

$ 15

$ 15

2017 Restricted Stock Unit Award Plan

Employee Benefit Plans Disclosure [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage

25.00%

100.00%

25.00%

100.00%

Share-based Compensation Arrangement by Share-based Payment Award, Description

stock, for up to 40%

stock, for up to 40%

stock, for up to 40%

Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized

1,500,000

Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Grants In Period

55,000

488,000

67,000

200,000

2017 Restricted Stock Unit Award Plan | Employees [Member]

Employee Benefit Plans Disclosure [Line Items]

Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Grants In Period

64,000

2017 Restricted Stock Unit Award Plan | Employees [Member] | Distributed And Settled In Common Stock [Member]

Employee Benefit Plans Disclosure [Line Items]

Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Grants In Period

54,000

2017 Restricted Stock Unit Award Plan | Employees [Member] | Settlement For Purchase Price [Member]

Employee Benefit Plans Disclosure [Line Items]

Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Grants In Period

10,000

2017 Restricted Stock Unit Award Plan | Four Non Employee Directors [Member]

Employee Benefit Plans Disclosure [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage

25.00%

Share-based Compensation Arrangement by Share-based Payment Award, Description

stock, for up to 40%

Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Grants In Period

83,000

2014 Restricted Stock Unit Award Plan [Member]

Employee Benefit Plans Disclosure [Line Items]

Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Grants In Period

400,000

Share-based Compensation Arrangement by Share-based Payment Award, Shares Purchased for Award

0

Non-employee director | 2017 Restricted Stock Unit Award Plan

Employee Benefit Plans Disclosure [Line Items]

Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Grants In Period

333,000

Non-employee director | 2017 Restricted Stock Unit Award Plan | Settled In Cash [Member]

Employee Benefit Plans Disclosure [Line Items]

Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Grants In Period

33,000

Non-employee director | 2017 Restricted Stock Unit Award Plan | Distributed And Settled In Common Stock [Member]

Employee Benefit Plans Disclosure [Line Items]

Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Grants In Period

296,000

267,000

Non-employee director | 2017 Restricted Stock Unit Award Plan | Settlement For Purchase Price [Member]

Employee Benefit Plans Disclosure [Line Items]

Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Grants In Period

4,000

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2017
INCOME TAXES
Federal NOLs	$ 167,800		$ 167,800		$ 160,200
State income tax benefits					$ 1,000
Operating Loss Carryforwards, Expiration Term			20 years
Operating Loss Carry Forwards Expiration Year			2037
Tax Credit Carryforward, Amount	150		$ 150
Income Tax Expense (Benefit)	$ 0	$ 0	$ 0	$ 0

NET EARNINGS (LOSS) PER SHARE_2

NET EARNINGS (LOSS) PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Earnings (loss) per share - basic
Numerator: net income (loss)	$ 308	$ (595)	$ (3,341)	$ (788)	$ (287)	$ (4,129)	$ (3,800)
Common shares	21,650		21,300		21,650	21,300
RSUs - vested	654		242		637	218
RSUs	717		242		637	218
Stock options	115
Common stock purchase warrant	10,000		330		10,000	166
Basic weighted average shares outstanding	32,304		21,872		32,287	21,684
Earnings (loss) per share - basic	$ 0.01		$ (0.15)		$ (0.01)	$ (0.19)
Earnings (loss) per share - diluted
Numerator: net income (loss)	$ 308	$ (595)	$ (3,341)	$ (788)	$ (287)	$ (4,129)	$ (3,800)
Denominator (weighted):
Diluted weighted average shares outstanding	32,482		21,872		32,287	21,684
Earnings (loss) per share - diluted	$ 0.01		$ (0.15)		$ (0.01)	$ (0.19)
Common shares issuable:
Total excluded common shares	40,616		41,391		40,839	41,391
Restricted stock units
Common shares issuable:
Total excluded common shares	153		659		153	659
Stock options
Common shares issuable:
Total excluded common shares	1,121		1,390		1,344	1,390
Common stock purchase warrants
Common shares issuable:
Total excluded common shares	1,842		1,842		1,842	1,842
Convertible loan
Common shares issuable:
Total excluded common shares	37,500		37,500		37,500	37,500

NET EARNINGS (LOSS) PER SHARE -

NET EARNINGS (LOSS) PER SHARE - Additional Information (Details) - $ / shares shares in Millions	Jun. 28, 2019	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 0.01
Earnings Per Share, Basic, Total		$ 0.01	$ (0.15)	$ (0.01)	$ (0.19)
Schutte Note [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share
Debt Conversion, Converted Instrument, Warrants or Options Issued	10			10
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 0.01	$ 0.01		$ 0.01