Eagle Pharmaceuticals (EGRX) 10-Q 10 Aug 20 2020 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2020	Aug. 03, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	001-36306
Entity Registrant Name	Eagle Pharmaceuticals, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-8179278
Entity Address, Address Line One	50 Tice Boulevard
Entity Address, Address Line Two	Suite 315
Entity Address, City or Town	Woodcliff Lake
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07677
City Area Code	(201)
Local Phone Number	326-5300
Title of 12(b) Security	Common stock, $0.001 par value per share
Trading Symbol	EGRX
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		13,606,971
Entity Central Index Key	0000827871
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 108,213	$ 109,775
Accounts receivable, net	46,781	48,004
Inventories	7,891	6,566
Prepaid expenses and other current assets	5,551	15,104
Total current assets	168,436	179,449
Property and equipment, net	2,118	2,202
Intangible assets, net	14,250	15,583
Goodwill	39,743	39,743
Deferred tax asset, net	14,585	13,669
Other assets	17,578	3,908
Total assets	256,710	254,554
Current liabilities:
Accounts payable	13,708	5,462
Accrued expenses and other liabilities	19,778	28,361
Current portion of long-term debt	7,000	5,000
Total current liabilities	40,486	38,823
Other long-term liabilities	3,361	3,000
Long-term debt, less current portion	28,899	33,557
Total liabilities	72,746	75,380
Commitments and Contingencies
Stockholders' equity:
Preferred stock, 1,500,000 shares authorized and no shares issued or outstanding as of June 30, 2020 and December 31, 2019	0	0
Common stock, $0.001 par value; 50,000,000 shares authorized; 16,621,681 and 16,537,846 shares issued as of June 30, 2020 and December 31, 2019, respectively	17	17
Additional paid in capital	291,434	278,518
Retained earnings	69,373	72,500
Treasury stock, at cost, 3,017,710 and 2,907,687 shares as of June 30, 2020 and December 31, 2019, respectively	(176,860)	(171,861)
Total stockholders' equity	183,964	179,174
Total liabilities and stockholders' equity	$ 256,710	$ 254,554

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Preferred stock, shares authorized (in shares)	1,500,000	1,500,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value per share (in usd per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	16,621,681	16,537,846
Treasury stock (in shares)	3,017,710	2,907,687

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenue:
Total revenue	$ 41,938	$ 56,702	$ 87,958	$ 106,487
Operating expenses:
Cost of product sales	10,313	18,175	15,078	27,729
Cost of royalty revenue	2,822	3,109	5,860	6,655
Research and development	7,135	8,957	16,562	15,332
Selling, general and administrative	17,959	17,228	42,714	35,369
Total operating expenses	38,229	47,469	80,214	85,085
Income from operations	3,709	9,233	7,744	21,402
Interest income	150	637	496	1,131
Interest expense	(786)	(665)	(1,675)	(1,351)
Other income (expense)	2,300	0	(4,200)	0
Total other income (expense), net	1,664	(28)	(5,379)	(220)
Income before income tax provision	5,373	9,205	2,365	21,182
Income tax provision	(5,629)	(2,480)	(5,492)	(5,484)
Net (Loss) Income	$ (256)	$ 6,725	$ (3,127)	$ 15,698
(Loss) Earnings per share attributable to common stockholders:
Basic (in usd per share)	$ (0.02)	$ 0.49	$ (0.23)	$ 1.13
Diluted (in usd per share)	$ (0.02)	$ 0.48	$ (0.23)	$ 1.11
Weighted average number of common shares outstanding:
Basic (in shares)	13,664,951	13,782,720	13,666,279	13,853,580
Diluted (in shares)	13,664,951	14,156,627	13,666,279	14,176,297
Product sales
Revenue:
Total revenue	$ 14,376	$ 29,437	$ 32,070	$ 43,909
Royalty revenue
Revenue:
Total revenue	27,562	27,265	55,888	53,578
License and other revenue
Revenue:
Total revenue	$ 0	$ 0	$ 0	$ 9,000

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Treasury Stock	Retained Earnings
Beginning balance (in shares) at Dec. 31, 2018		16,504,000
Beginning balance at Dec. 31, 2018	$ 160,762	$ 17	$ 256,458	$ (153,900)	$ 58,187
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	$ 11,164		11,164
Issuance of common stock upon exercise of stock option grants (in shares)	7,382	9,000
Issuance of common stock upon exercise of stock option grants	$ 55		55
Payment of employee withholding tax upon vesting of stock-based awards	(198)		(198)
Issuance of common stock related to vesting of restricted stock units (in shares)		9,000
Common stock repurchases	(15,000)			(15,000)
Net (loss) income	15,698				15,698
Ending balance (in shares) at Jun. 30, 2019		16,522,000
Ending balance at Jun. 30, 2019	172,481	$ 17	267,479	(168,900)	73,885
Beginning balance (in shares) at Mar. 31, 2019		16,520,000
Beginning balance at Mar. 31, 2019	175,361	$ 17	262,084	(153,900)	67,160
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	5,382		5,382
Issuance of common stock upon exercise of stock option grants (in shares)		2,000
Issuance of common stock upon exercise of stock option grants	13		13
Common stock repurchases	(15,000)			(15,000)
Net (loss) income	6,725				6,725
Ending balance (in shares) at Jun. 30, 2019		16,522,000
Ending balance at Jun. 30, 2019	172,481	$ 17	267,479	(168,900)	73,885
Beginning balance (in shares) at Dec. 31, 2019		16,538,000
Beginning balance at Dec. 31, 2019	179,174	$ 17	278,518	(171,861)	72,500
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	$ 13,713		13,713
Issuance of common stock upon exercise of stock option grants (in shares)	38,951	39,000
Issuance of common stock upon exercise of stock option grants	$ 513		513
Payment of employee withholding tax upon vesting of stock-based awards	(1,310)		(1,310)
Issuance of common stock related to vesting of restricted stock units (in shares)		45,000
Common stock repurchases	(4,999)			(4,999)
Net (loss) income	(3,127)				(3,127)
Ending balance (in shares) at Jun. 30, 2020		16,622,000
Ending balance at Jun. 30, 2020	183,964	$ 17	291,434	(176,860)	69,373
Beginning balance (in shares) at Mar. 31, 2020		16,598,000
Beginning balance at Mar. 31, 2020	181,830	$ 17	285,044	(172,860)	69,629
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	6,241		6,241
Issuance of common stock upon exercise of stock option grants (in shares)		23,000
Issuance of common stock upon exercise of stock option grants	183		183
Payment of employee withholding tax upon vesting of stock-based awards	(34)		(34)
Issuance of common stock related to vesting of restricted stock units (in shares)		1,000
Common stock repurchases	(4,000)			(4,000)
Net (loss) income	(256)				(256)
Ending balance (in shares) at Jun. 30, 2020		16,622,000
Ending balance at Jun. 30, 2020	$ 183,964	$ 17	$ 291,434	$ (176,860)	$ 69,373

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		20 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020
Cash flows from operating activities:
Net (loss) income	$ (256)	$ 6,725	$ (3,127)	$ 15,698
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Deferred income taxes			(916)	(127)
Depreciation expense			931	1,005
Amortization expense	667	630	1,333	1,260
Fair value adjustments on equity investment			4,200	0
Stock-based compensation expense			13,713	11,164
Amortization of debt issuance costs			183	188
Changes in operating assets and liabilities which provided (used) cash:
Accounts receivable			1,223	6,147
Inventories			(1,325)	(3,290)
Prepaid expenses and other current assets			9,553	4,665
Accounts payable			8,246	7,379
Accrued expenses and other liabilities			(8,583)	4,880
Other assets and other long-term liabilities, net			(1,321)	(396)
Net cash provided by operating activities			24,110	48,573
Cash flows from investing activities:
Purchase of equity investment security			(17,500)	0
Purchase of property and equipment			(376)	(343)
Net cash used in investing activities			(17,876)	(343)
Cash flows from financing activities:
Proceeds from common stock option exercises			513	55
Employee withholding taxes related to stock-based awards			(1,310)	(198)
Proceeds from existing revolving credit facility			110,000	0
Repayment of existing revolving credit facility			(110,000)	0
Payment of debt			(2,000)	(3,750)
Repurchases of common stock			(4,999)	(15,000)	$ (176,900)
Net cash used in financing activities			(7,796)	(18,893)
Net (decrease) increase in cash and cash equivalents			(1,562)	29,337
Cash and cash equivalents at beginning of period			109,775	78,791
Cash and cash equivalents at end of period	$ 108,213	$ 108,128	108,213	108,128	$ 108,213
Cash paid during the period for:
Income taxes, net			502	2,874
Interest			1,458	1,221
Right-of-use asset obtained in exchange for lease obligation - lease amendment			$ 842	$ 2,871

Interim Condensed Consolidated

Interim Condensed Consolidated Financial Statements	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Interim Condensed Condensed Financial Statements	Interim Condensed Consolidated Financial StatementsThe accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim information and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for reporting quarterly information. Accordingly, certain information and footnote disclosures required for complete financial statements are not included herein. The condensed consolidated balance sheet at December 31, 2019 was derived from audited financial statements, but certain information and footnote disclosures normally included in the Company’s annual consolidated financial statements have been condensed or omitted. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) necessary for the fair presentation of the financial information for the interim periods reported have been made. Results of operations for the three and six months ended June 30, 2020 are not necessarily indicative of the results for the year ending December 31, 2020 or any period thereafter. These unaudited interim condensed consolidated financial statements should be read in conjunction with the audited financial statements and related notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, filed with the SEC on March 2, 2020.

Organization and Business Activ

Organization and Business Activities	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business Activities	Organization and Business Activities We are an integrated pharmaceutical company focused on finding ways to help medicines do more for patients. Eagle and our collaborators have the capabilities to take a molecule from preclinical research through regulatory approval and into the marketplace, including development, manufacturing and commercialization. Our business model applies our scientific expertise, proprietary research-based insights and marketplace proficiency to identify challenging-to-treat diseases of the central nervous system or metabolic critical care therapeutic areas as well as in oncology. By focusing on patients' unmet needs, Eagle strives to provide healthcare professionals with urgently needed treatment solutions that are designed to improve patient care and outcomes and create near- and long-term value for our stakeholders, including patients and healthcare providers and our employees, marketing partners, collaborators and investors. Our science-based business model has a proven track record with U.S. Food and Drug Administration ("FDA") approval and commercial launches of three products: Ryanodex® (dantrolene sodium) ("Ryanodex"), bendamustine ready-to-dilute ("RTD") 500ml solution ("Belrapzo"), and rapidly infused bendamustine RTD ("Bendeka"). We market our products through marketing partners and/or our internal direct sales force. Eagle markets Ryanodex and Belrapzo, and Teva Pharmaceutical Industries Ltd. ("Teva") markets Bendeka through its subsidiary Cephalon, Inc. Reflecting further expansion of our oncology portfolio, in February 2020, we received final FDA approval for Pemfexy® (“Pemfexy”) and in July 2020, we announced that the Centers for Medicare & Medicaid Services (“CMS”) had established a unique, product-specific billing code for Pemfexy, effective on October 1, 2020. Pemfexy is our novel pemetrexed product, a branded alternative to Alimta® for metastatic non-squamous non-small cell lung cancer and malignant pleural mesothelioma. The conversion from tentative to a final approval follows the Company’s settlement agreement reached with Eli Lilly and Company (“Lilly”) on December 13, 2019. This agreement provides for a release of all claims by the parties and allows for an initial entry of Pemfexy into the market (equivalent to approximately a three-week supply of current ALIMTA utilization) on February 1, 2022, and a subsequent uncapped entry on April 1, 2022.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Significant Accounting Policies The Company’s significant accounting policies are described in the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 and the notes thereto filed with the SEC on March 2, 2020. Since the date of those consolidated financial statements, there have been no material changes to the Company’s significant accounting policies other than as listed below. Significant Risks and Uncertainties In response to the ongoing COVID-19 pandemic, the Company has taken and continues to take active measures designed to address and mitigate the impact of the COVID-19 pandemic on its business, such as remote working policies, facilitating management’s daily communication to address employee and business concerns and providing frequent updates to the Company’s Board of Directors (“Board”). The Company anticipates that the COVID-19 pandemic may also have an impact on the clinical development timelines for certain of its clinical programs, such as EA-114. The Company also anticipates that the COVID-19 pandemic may have an impact on the Company’s supply chain. The COVID-19 pandemic and associated lockdowns have resulted in a decrease in healthcare utilization broadly and specifically lead to a reduction in the utilization of physician-administered oncology products including Belrapzo and Bendeka. In addition, the Company anticipates that the COVID-19 pandemic may continue to delay the timing of ongoing litigation, including the litigation with Par (as defined below) with respect to Vasopressin. The extent to which the COVID-19 pandemic will impact the Company’s business, its clinical development and regulatory efforts, its supply chain and sales efforts, its corporate development objectives and the value of, and market for, its common stock will depend on future developments that are highly uncertain and cannot be predicted with confidence at this time, such as the ultimate duration of the pandemic, travel restrictions, quarantines, social distancing and business closure requirements in the United States, and other countries, and the effectiveness of actions taken globally to contain and treat the disease. The global economic slowdown, the overall disruption of global healthcare systems and other risks and uncertainties associated with the pandemic could have a material adverse effect on the Company’s business, financial condition, results of operations and growth prospects. In addition, the Company is subject to other challenges and risks specific to its business and its ability to execute on its business plan and strategy, as well as risks and uncertainties common to companies in the pharmaceutical industry with research and development operations, including, without limitation, risks and uncertainties associated with: delays or problems in obtaining clinical supply; obtaining regulatory approval of its product candidates; loss of single source suppliers or failure to comply with manufacturing regulations; identifying, acquiring or in-licensing additional products or product candidates; product development and the inherent uncertainty of clinical success; the challenges of protecting and enhancing its intellectual property rights; and the challenges of complying with applicable regulatory requirements. In addition, to the extent the ongoing COVID-19 pandemic adversely affects the Company’s business and results of operations, it may also have the effect of heightening many of the other risks and uncertainties discussed above. Use of Estimates These financial statements are presented in U.S. dollars and are prepared in accordance with U.S. GAAP. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed financial statements including disclosure of contingent assets and contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period and accompanying notes. The Company’s critical accounting policies are those that are both most important to the Company’s financial condition and results of operations and require the most difficult, subjective or complex judgments on the part of management in their application, often as a result of the need to make estimates about the effect of matters that are inherently uncertain. The Company anticipates that the COVID-19 pandemic may disrupt the Company’s supply chain and marketing and sales efforts for certain of its products, including Bendeka, although it is not currently expected that any disruption would be significant. As of the date of issuance of these financial statements, the Company is not aware of any specific event or circumstance that would require the Company to update its estimates, assumptions and judgments or revise the carrying value of its assets or liabilities. Because of the uncertainty of factors surrounding the estimates or judgments used in the preparation of the financial statements, actual results may materially vary from these estimates, and any such differences may be material to the Company’s financial statements. Reclassifications Certain reclassifications have been made to prior year amounts to conform with the current year presentation. None of the reclassifications were significant. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. All cash and cash equivalents are held in United States financial institutions. The carrying amount of cash and cash equivalents approximates its fair value due to its short-term nature. The Company, at times, maintains balances with financial institutions in excess of the Federal Deposit Insurance Corporation (“FDIC”) limit. Fair Value Measurements U.S. GAAP establishes a framework for measuring fair value under generally accepted accounting principles and enhances disclosures about fair value measurements. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The standard describes the following fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value: • Level 1: Quoted prices in active markets for identical assets or liabilities. • Level 2: Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The fair value of interest-bearing cash, cash equivalents, accounts receivable and accounts payable approximate fair value due to their life being short term in nature, and are classified as Level 1 for all periods presented. Our investment in restricted shares of Tyme’s common stock are classified as Level 1. Refer to Note 13, Collaboration with Tyme for further details. The fair value of debt is classified as Level 2 for the periods presented and approximates its fair value due to the variable interest rate. The fair value of any contingent consideration/accrued royalty was classified as Level 3 for the periods presented. Intangible Assets The Company capitalizes and includes in intangible assets the costs of acquired product licenses and developed technology purchased individually or identified in a business combination. Intangible assets are recorded at fair value at the time of their acquisition and stated net of accumulated amortization. The Company amortizes its definite-lived intangible assets using either the straight-line or accelerated method, based on the useful life of the asset over which it is expected to be consumed utilizing expected undiscounted future cash flows. The Company will evaluate the potential impairment of intangible assets if events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable or that the useful lives of these assets are no longer appropriate. Events giving rise to impairment are an inherent risk in our industry and many factors cannot be predicted. Factors that we consider in deciding when to perform an impairment review include significant changes in our forecasted projections for the asset or asset group for reasons including, but not limited to, significant under-performance of a product in relation to expectations, significant changes or planned changes in our use of the assets, significant negative industry or economic trends, and new or competing products that enter the marketplace. The impairment test is based on a comparison of the undiscounted cash flows expected to be generated from the use of the asset group and its eventual disposition to the carrying value of the asset group. If impairment is indicated, the asset is written down by the amount by which the carrying value of the asset exceeds the related fair value of the asset with the related impairment charge recognized within the condensed consolidated statements of operations. With respect to determining an asset’s fair value and useful life, because this process involves management making certain estimates and these estimates form the basis of the determination of whether or not an impairment charge should be recorded, these estimates are considered to be critical accounting estimates. The Company did not identify any impairment to intangible assets for the periods presented. Goodwill Goodwill represents the excess of purchase price over the fair value of net assets acquired in the Eagle Biologics acquisition. Goodwill is not amortized, but is evaluated for impairment on an annual basis, in the fourth quarter, or more frequently if events or changes in circumstances indicate that the reporting unit’s goodwill is less than its carrying amount. The Company did not identify any impairment to goodwill during the periods presented. Concentration of Major Customers and Vendors The Company is dependent on commercial partners to market and sell Bendeka. The Company's customers for Bendeka are its commercial and licensing partners; therefore, the Company's future revenues are highly dependent on these collaboration and distribution arrangements. Teva markets Bendeka pursuant to the Bendeka License. Pursuant to the agreement, Teva pays the Company a royalty based on net sales of the product and also purchases the product from the Company. A disruption in this arrangement, caused by among other things, a supply disruption, loss of exclusivity or the launch of a superior product would have a material adverse effect of the Company’s financial position, results of operations and cash flows. The total revenues and accounts receivables broken down by major customers as a percentage of the total are as follows: Three Months Ended Six Months Ended 2020 2019 2020 2019 Net revenues Cephalon, Inc. (Teva) - See Revenue Recognition 78 % 67 % 71 % 75 % Other 22 % 33 % 29 % 25 % 100 % 100 % 100 % 100 % June 30, December 31, 2020 2019 Accounts receivable Cephalon, Inc. (Teva) - See Revenue Recognition 76 % 80 % Other 24 % 20 % 100 % 100 % Inventories Inventories are recorded at the lower of cost or expected net realizable value, with cost determined on a first-in first-out basis. The Company periodically reviews the composition of inventory in order to identify obsolete, slow-moving or otherwise non-saleable items. If non-saleable items are observed and there are no alternate uses for the inventory, the Company will record a write-down to net realizable value in the period that the decline in value is first recognized. Property and Equipment Property and equipment are stated at cost. Depreciation is recorded over the estimated useful lives of the assets utilizing the straight-line method. Leasehold improvements are being amortized over the shorter of their useful lives or the lease term. Research and Development Expense Costs for research and development are charged to expense as incurred and include; employee-related expenses including salaries, benefits, travel and stock-based compensation expense for research and development personnel; expenses incurred under agreements with contract research organizations, contract manufacturing organizations and service providers that assist in conducting clinical and preclinical studies; costs associated with preclinical activities and development activities, costs associated with regulatory operations; and depreciation expense for assets used in research and development activities. Costs for certain development activities, such as clinical studies, are recognized based on an evaluation of the progress to completion of specific tasks using data such as patient enrollment, clinical site activations, or information provided to the Company by its vendors on their actual costs incurred. Payments for these activities are based on the terms of the individual arrangements, which may differ from the patterns of costs incurred, and are reflected in the condensed consolidated financial statements as prepaid expenses or accrued expenses as deemed appropriate. Recoveries of previously recognized research and development expenses from third parties are recorded as a reduction to research and development expense in the period it becomes realizable. Advertising and Marketing Advertising and marketing costs are expensed as incurred. Advertising and marketing costs were $775 and $491 for the three months ended June 30, 2020 and 2019, respectively. Advertising and marketing costs were $1,888 and $1,117 for the six months ended June 30, 2020 and 2019, respectively. Income Taxes The Company accounts for income taxes using the liability method in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”), Topic 740 - Income Taxes (“ASC 740”). Deferred tax assets and liabilities are determined based on temporary differences between financial reporting and tax bases of assets and liabilities and are measured by applying enacted rates and laws to taxable years in which differences are expected to be recovered or settled. Further, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income (loss) in the period that the rate changes. A valuation allowance is required when it is “more likely than not” that all or a portion of deferred tax assets will not be realized. ASC 740 also prescribes a comprehensive model for how a company should recognize, measure, present and disclose in its financial statements uncertain tax positions that the company has taken or expects to take on a tax return, including a decision whether to file or not file a return in a particular jurisdiction. We recognize any interest and penalties accrued related to unrecognized tax benefits as income tax expense. Revenue Recognition Revenue is recognized when a customer obtains control of promised goods or services, in an amount that reflects the consideration which the entity expects to receive in exchange for those goods or services. To determine revenue recognition for arrangements that an entity determines are within the scope of ASC 606, the Company performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised within each contract and determines those that are performance obligations, and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. Sales, value add, and other taxes collected on behalf of third parties are excluded from revenue. Receivables from our product sales have payment terms ranging from 30 to 75 days with select extended terms to wholesalers on initial purchases of product launch quantities. Our receivables from royalty revenue are due 45 days from the end of the quarter. Product revenue - The Company recognizes net revenue on sales to its commercial partners and to end users. In each instance, revenue is generally recognized when the customer obtains control of the Company’s product, which occurs at a point in time, and may be upon shipment or upon delivery based on the contractual shipping terms of a contract. Revenue on sales to commercial partners relates to Argatroban and Bendeka. Sales to our commercial partners are presented gross because the Company is primarily responsible for fulfilling the promise to provide the product, is responsible to ensure that the product is produced in accordance with the related supply agreement and bears risk of loss while the inventory is in-transit to the commercial partner. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring products or services to a customer. To the extent the transaction price includes variable consideration, the Company estimates the amount of variable consideration that should be included in the transaction price utilizing the expected value method to which the Company expects to be entitled. As such, revenue on sales to customers for Belrapzo, Non-Alcohol Docetaxel Injection, Ryanodex and diclofenac-misoprostol are recorded net of chargebacks, rebates, returns, prompt pay discounts, wholesaler fees and other deductions. Our products are contracted with a limited number of oncology distributors and hospital buying groups with narrow differences in ultimate realized contract prices used to estimate our chargeback and rebate reserves. The Company has a product return policy on some of its products that allows the customer to return pharmaceutical products within a specified period of time both prior to and subsequent to the product’s expiration date. The Company's estimate of the provision for returns is analyzed quarterly and is based upon many factors, including historical experience of actual returns and analysis of the level of inventory in the distribution channel, if any. The Company has terms on sales of Ryanodex by which the Company does not accept returns. Variable consideration is included in the transaction price if, in the Company’s judgment, it is probable that a significant future reversal of cumulative revenue under the contract will not occur. Estimates of variable consideration are made using the expected value method and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of the Company’s anticipated performance and all information (historical, current and forecasted) that is reasonably available. The Company believes that the estimates it has established are reasonable based upon current facts and circumstances. Applying different judgments to the same facts and circumstances could result in the estimated amounts to vary. Royalty Revenue — The Company recognizes revenue from license arrangements with its commercial partners' net sales of products. In accordance with ASC 606-10-55-65, royalties are recognized when the subsequent sale of the commercial partner’s products occurs. The Company's commercial partners are obligated to report their net product sales and the resulting royalty due to the Company within 25 days for Bendeka and 60 days for Argatroban from the end of each quarter. Based on historical product sales, royalty receipts and other relevant information, the Company accrues royalty revenue each quarter and subsequently determines a true-up when it receives royalty reports from its commercial partners. Historically, these true-up adjustments have been immaterial. License and other revenue — The Company analyzes each element of its licensing agreements to determine the appropriate revenue recognition. The terms of the license agreement may include payment to us of non-refundable up-front license fees, milestone payments if specified objectives are achieved, and/or royalties on product sales. The Company recognizes revenue from upfront payments at a point in time, typically upon fulfilling the delivery of the associated intellectual property to the customer. If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price based on the estimated relative standalone selling prices of the promised products or services underlying each performance obligation. The Company determines standalone selling prices based on the price at which the performance obligation is sold separately. If the standalone selling price is not observable through past transactions, the Company estimates the standalone selling price taking into account available information such as market conditions and internally approved pricing guidelines related to the performance obligations. The Company recognizes sales-based milestone payments as revenue upon the achievement of the cumulative sales amount specified in the contract in accordance with ASC 606-10-55-65. For those milestone payments which are contingent on the occurrence of particular future events, the Company determined that these need to be considered for inclusion in the calculation of total consideration from the contract as a component of variable consideration using the most-likely amount method. As such, the Company assesses each milestone to determine the probability and substance behind achieving each milestone. Given the inherent uncertainty of the occurrence of these future events, the Company will not recognize revenue from the milestone until there is not a high probability of a reversal of revenue, which typically occurs near or upon achievement of the event. When determining the transaction price of a contract, an adjustment is made if payment from a customer occurs either significantly before or significantly after performance, resulting in a significant financing component. Applying the practical expedient in paragraph 606-10-32-18, the Company does not assess whether a significant financing component exists if the period between when the Company performs its obligations under the contract and when the customer pays is one year or less. None of the Company’s contracts contained a significant financing component as of June 30, 2020. Collaborative licensing and development revenue — The Company recognizes revenue from reimbursements received in connection with feasibility studies and development work for third parties when its contractual services are performed, provided collectability is reasonably assured. Its principal costs under these agreements include its personnel conducting research and development, its allocated overhead, as well as the research and development performed by outside contractors or consultants. Upon termination of a collaboration agreement, any remaining non-refundable license fees received by the Company, which had been deferred, are generally recognized in full. All such recognized revenues are included in collaborative licensing and development revenue in its condensed consolidated statements of operations. The Company recognizes revenue from milestone payments received under collaboration agreements when earned, provided that the milestone event is substantive, its achievability was not reasonably assured at the inception of the agreement, the Company has no further performance obligations relating to the event, and collectability is reasonably assured. If these criteria are not met, the Company recognizes milestone payments ratably over the remaining period of its performance obligations under the collaboration agreement. Stock-Based Compensation The Company accounts for stock-based compensation using the fair value provisions of ASC 718, Compensation - Stock Compensation that requires the recognition of compensation expense, using a fair-value based method, for costs related to all stock-based payments including stock options and restricted stock. This topic requires companies to estimate the fair value of the stock-based awards on the date of grant for options issued to employees and directors and record expense over the employees' service periods, which are generally the vesting period of the equity awards. The Company accounts for stock-based compensation by measuring and recognizing compensation expense for all stock-based payments made to employees and directors based on estimated grant date fair values. The straight-line method is used to allocate compensation cost to reporting periods over each optionee's requisite service period, which is generally the vesting period. The fair value of the Company's stock-based awards to employees and directors is estimated using the Black-Scholes valuation model or a Monte Carlo simulation model. These models require the input of subjective assumptions, including the expected stock price volatility, the calculation of expected term, forfeitures and the fair value of the underlying common stock on the date of grant, among other inputs. The risk-free interest rate is determined with the implied yield currently available for zero-coupon U.S. government issues with a remaining term approximating the expected life of the options. Earnings Per Share Basic earnings per common share is computed using the weighted average number of shares outstanding during the period. Diluted earnings per share is computed in a manner similar to the basic earnings per share, except that the weighted-average number of shares outstanding is increased to include all common shares, including those with the potential to be issued by virtue of warrants, options, convertible debt and other such convertible instruments. Diluted earnings per share contemplate a complete conversion to common shares of all convertible instruments only if they are dilutive in nature with regards to earnings per share. The anti-dilutive common shares equivalents outstanding for the three and six months ended June 30, 2020 and 2019 were as follows: Three Months Ended Six Months Ended 2020 2019 2020 2019 Stock Options 2,909,289 2,437,505 2,909,289 2,567,433 Restricted stock units 229,100 38,947 253,677 40,133 Total 3,138,389 2,476,452 3,162,966 2,607,566 The following table sets forth the computation for basic and diluted net (loss) earnings per share for the three and six months ended June 30, 2020 and 2019: Three Months Ended Six Months Ended 2020 2019 2020 2019 Numerator Numerator for basic and diluted earnings per share-net (loss) income $ (256) $ 6,725 $ (3,127) $ 15,698 Denominator Basic weighted average common shares outstanding 13,664,951 13,782,720 13,666,279 13,853,580 Dilutive effect of stock awards — 373,907 — 322,717 Diluted weighted average common shares outstanding 13,664,951 14,156,627 13,666,279 14,176,297 Basic net (loss) earnings per share Basic net (loss) earnings per share $ (0.02) $ 0.49 $ (0.23) $ 1.13 Diluted net (loss) earnings per share Diluted net (loss) earnings per share $ (0.02) $ 0.48 $ (0.23) $ 1.11 All potentially dilutive items were excluded from the diluted share calculation for the three months and six months ended June 30, 2020 because their effect would have been anti-dilutive, as the Company was in a loss position. Recent Accounting Pronouncements Recent Accounting Pronouncements - Not Yet Adopted In March 2020, the FASB issued Update 2020-04 Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting to provide temporary optional guidance to ease the potential burden in accounting for reference rate reform. The amendments in Update 2020-04 are elective and apply to all entities that have contracts, hedging relationships, and other transactions that reference LIBOR, formerly known as the London Interbank Offered Rate, or another reference rate expected to be discontinued due to reference rate reform. The new guidance provides optional expedients, including; (1) Simplify accounting analyses under current GAAP for contract modifications, such as modifications of contracts within the scope of Topic 470, Debt, that will be accounted for by prospectively adjusting the effective interest rate, as if any modification was not substantial. That is, the original contract and the new contract shall be accounted for as if they were not substantially different from one another; (2) Simplify the assessment of hedge effectiveness and allow hedging relationships affected by reference rate reform to continue; (3) Allow a one-time election to sell or transfer debt securities classified as held to maturity before January 1, 2020 that reference a rate affected by reference rate reform. The amendments are effective for all entities from the beginning of an interim period that includes the issuance date of the ASU. An entity may elect to apply the amendments prospectively through December 31, 2022. The adoption of ASU 2020-4 is not expected to have a material impact on the Company's financial position or results of operations. Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses which requires financial assets measured at amortized cost basis to be presented at the net amount expected to be collected. This standard is effective for fiscal years beginning after December 15, 2019 and the Company adopted the standard effective January 1, 2020. The adoption of ASU 2016-13 had no material impact on the Company's financial position and results of operations. CARES Act On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into U.S. federal law, which is aimed at providing emergency assistance and health care for individuals, families, and businesses affected by the COVID-19 pandemic and generally supporting the U.S. economy. The CARES Act, among other things, includes provisions related to refundable payroll tax credits, deferment of the employer portion of social security payments, net operating loss carryback periods, modifications to the net interest deduction limitations, and technical corrections to tax depreciation methods for qualified improvement property. The CARES Act has not had, and the Company does not currently expect it to have, a material impact on the Company’s financial statements at this time.

Property and equipment, net (No

Property and equipment, net (Notes)	6 Months Ended
	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Property and equipment, net	Property and equipment, net Property and equipment consisted of the following: June 30, 2020 December 31, 2019 Estimated Useful Life (years) Furniture and fixtures $ 1,476 $ 1,188 7 Office equipment 1,077 1,094 3 Equipment 3,189 3,095 7 Leasehold improvements 1,155 1,144 2 6,897 6,521 Less accumulated depreciation (4,779) (4,319) Property and equipment, net $ 2,118 $ 2,202

Inventories

Inventories	6 Months Ended
	Jun. 30, 2020
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consist of the following: June 30, December 31, 2020 2019 Raw material $ 5,385 $ 2,460 Work in process 2,323 3,243 Finished products 183 863 $ 7,891 $ 6,566

Balance Sheet Accounts

Balance Sheet Accounts	6 Months Ended
	Jun. 30, 2020
Balance Sheet Related Disclosures [Abstract]
Balance Sheet Accounts	Balance Sheet Accounts Prepaid and Other Current Assets Prepaid and other current assets consist of the following: June 30, December 31, 2020 2019 Prepaid income taxes $ 341 $ 4,661 Prepaid FDA user fee and advances to clinical research organization 325 6,345 Prepaid insurance 697 191 Advances to commercial manufacturers 2,938 2,462 All other 1,250 1,445 Total Prepaid expenses and other current assets $ 5,551 $ 15,104 Accrued Expenses Accrued expenses consist of the following: June 30, December 31, 2020 2019 Accrued sales reserves $ 5,774 $ 8,364 Royalties payable to commercial partners 4,755 6,004 Accrued salary and other compensation 4,135 8,083 Accrued professional fees 1,514 1,926 Accrued research & development 1,123 1,686 Current portion of lease liability 1,110 1,101 Accrued other 1,367 1,197 Total Accrued expenses $ 19,778 $ 28,361 Leases The Company leases its corporate office under an amended lease agreement that expires on June 30, 2025 (the "Corporate Office Lease"). The Corporate Office Lease was amended on August 8, 2019 to extend the term through such date and to increase the amount of leased office space. The Company also leases lab space under a lease agreement that expires on October 31, 2023 (the "Lab Space Lease"). The Company estimated the right of use asset and the corresponding lease liability, on a discounted basis, as of the adoption date of January 1, 2019. The future minimum lease payments under this Corporate Office Lease are approximately $6.6 million. For the Company's two operating leases (the Corporate Office Lease and Lab Space Lease), the depreciation and interest expense components are combined and recognized ratably over the remaining term of the lease as research and development and selling, general and administrative in the Company's condensed consolidated statements of operations, respectively. The Company used its estimated incremental borrowing rate to calculate the present value of the right of use ("ROU") assets and lease liabilities as of the date of adoption date. The implicit interest rate related to the Company’s two lease agreements was not known as of the date of adoption. Therefore, the Company calculated an incremental borrowing rate based on the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term and amount equal to the lease payments in a similar economic environment . Lease related disclosures consist of the following: June 30, December 31, June 30, 2020 2019 2019 ROU asset, net included in Other assets $ 4,087 $ 3,716 $ 2,483 Lease liability included with Other long-term liabilities $ 3,361 $ 3,000 $ 1,560 Lease liability included with Accrued expenses and other liabilities $ 1,110 $ 1,101 $ 1,051 Quarter to date ("QTD") depreciation of ROU asset $ 250 n/a $ 261 QTD related rent expense $ 351 n/a $ 286 Year to date ("YTD") depreciation of ROU asset $ 471 n/a $ 522 YTD related rent expense $ 637 n/a $ 573 YTD operating cash flows from operating leases $ 637 n/a $ 573 YTD operating lease costs $ 637 n/a $ 573 Weighted-average remaining lease term - operating leases 4.4 years 5.0 years 2.8 years Weighted-average discount rate - operating leases 6.5 % 6 % 6.4 % As of June 30, 2020, the future minimum lease commitments for the Company's two leases were as follows: Total 2020 2021 2022 2023 2024 2025 Beyond $ 6,242 $ 980 $ 1,362 $ 1,376 $ 1,291 $ 820 $ 413 $ — As of December 31, 2019, the future minimum lease commitments for the Company's two leases were as follows: Total 2020 2021 2022 2023 2024 2025 $ 6,607 $ 1,345 $ 1,362 $ 1,376 $ 1,291 $ 820 $ 413

Intangible Assets, Net

Intangible Assets, Net	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets, Net	Intangible Assets, Net The gross carrying amounts and net book value of the Company's intangible assets are as follows: June 30, 2020 Useful Life (In Years) Gross Carrying Amount Accumulated Amortization Net Book Value Ryanodex intangible (i) 20 $ 15,000 $ (2,977) $ 12,023 Developed technology 5 8,100 (5,873) 2,227 Total $ 23,100 $ (8,850) $ 14,250 December 31, 2019 Useful Life (In Years) Gross Carrying Amount Accumulated Amortization Net Book Value Ryanodex intangible (i) 20 15,000 (2,454) 12,546 Developed technology 5 8,100 (5,063) 3,037 Total $ 23,100 $ (7,517) $ 15,583 (i) Represent payments made to reduce the royalties payable to a third party on Ryanodex net sales. Amortization expense was $667 and $630 for the three months ended June 30, 2020 and 2019, respectively and $1,333 and $1,260 for the six months ended June 30, 2020 and 2019, respectively. Estimated Amortization Expense for Intangible Assets Based on definite-lived intangible assets recorded as of June 30, 2020, and assuming that the underlying assets will not be impaired and that the Company will not change the expected lives of the assets, future amortization expenses are estimated as follows: Estimated Amortization Expense Year Ending December 31, 2020 (remainder) 1,333 2021 2,622 2022 1,369 2023 1,570 2024 1,898 Thereafter 5,458 Total estimated amortization expense $ 14,250

Common Stock and Stock-Based Co

Common Stock and Stock-Based Compensation	6 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Common Stock and Stock-Based Compensation	Common Stock and Stock-Based Compensation Common Stock Share Repurchase Program On March 17, 2020, the Company, announced that its Board approved a new share repurchase program, or the Share Repurchase Program, providing for the repurchase of up to an aggregate of $160.0 million of the Company’s outstanding common stock. The Share Repurchase Program replaced the Company’s then existing share repurchase program, or the Previous Share Repurchase Program, which was announced on October 30, 2018 and was terminated in connection with the Board’s approval of the Share Repurchase Program. At termination, the Company had repurchased approximately $68.0 million of the Company’s outstanding common stock under the Previous Share Repurchase Program. Under the Share Repurchase Program, the Company is authorized to repurchase shares through open market purchases, privately-negotiated transactions, accelerated share repurchases or otherwise in accordance with applicable federal securities laws, including through Rule 10b5-1 trading plans and under Rule 10b-18 of the Exchange Act The repurchases have no time limit and may be suspended or discontinued completely at any time. The specific timing and amount of repurchases will vary based on available capital resources and other financial and operational performance, market conditions, securities law limitations, and other factors. The repurchases will be made using the Company’s cash resources. As of June 30, 2020, the Company had repurchased an aggregate of 3,017,710 shares of common stock for an aggregate of $176.9 million pursuant to its Share Repurchase Programs since August 2016. Stock-Based Compensation In November 2013, the Company's Board of Directors approved the 2014 Equity Incentive Plan (the "2014 Plan") which became effective on February 11, 2014. The 2014 Plan provides for the awards of incentive stock options, non-qualified stock options, restricted stock, restricted stock units and other stock-based awards. Awards generally vest equally over a period of four years from grant date. Vesting may be accelerated under a change in control of the Company or in the event of death or disability to the recipient. In the event of termination, any unvested shares or options are forfeited. During the three months ended March 31, 2018, the Company introduced a new long-term incentive program with the objective to better align the stock-based awards granted to management with the Company's focus on improving total shareholder return over the long-term. The stock-based awards granted under this long-term incentive program consist of time-based stock options, time-based restricted stock units ("RSUs") and performance-based stock units ("PSUs"). PSUs are comprised of awards that vest upon achievement of certain share price appreciation conditions. A summary of stock option, RSU and PSU activity under the 2014 Plan during the six months ended June 30, 2020 and 2019 is presented below: Stock Options RSUs PSUs Outstanding at December 31, 2018 2,556,365 54,219 117,219 Granted 579,133 211,829 — Options Exercised/RSUs Vested/PSUs Vested (7,382) (13,555) — Forfeited or expired (17,622) (531) (709) Outstanding at June 30, 2019 3,110,494 251,962 116,510 Outstanding at December 31, 2019 3,096,161 251,215 116,181 Granted 600,700 231,450 — Options Exercised/RSUs Vested/PSUs Vested (38,951) (67,970) — Forfeited or expired (78,478) (11,074) (2,431) Outstanding at June 30, 2020 3,579,432 403,621 113,750 Stock Options The fair value of stock options granted to employees, directors, and consultants were estimated using the following assumptions: Three Months Ended Six Months Ended 2020 2019 2020 2019 Risk-free interest rate 0.44% - 0.44% 1.97% - 2.41% 0.44% - 1.65% 1.97% - 2.61% Volatility 55.46% 50.16% 54.94% 50.45% Expected term (in years) 6.08 years 6.08 years 6.03 years 5.98 years Expected dividend yield 0.0% 0.0% 0.0% 0.00% RSUs Each vested time-based RSU represents the right of a holder to receive one share of the Company’s common stock. The fair value of each RSU granted was estimated based on the trading price of the Company’s common stock on the date of grant. PSUs The fair value of PSUs granted to employees was estimated using a Monte Carlo simulation model. Inputs used in the calculation include a risk-free interest rate of 2.06%, an expected volatility of 47%, contractual term of 3 years, and no expected dividend yield. The Company recognized stock-based compensation in its condensed consolidated statements of operations for the three and six months ended June 30, 2020 and 2019 as follows: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Stock options $ 4,153 $ 3,967 $ 9,146 $ 8,395 RSUs 1,334 643 3,186 1,251 PSUs 754 772 1,381 1,518 Stock-based compensation expense $ 6,241 $ 5,382 $ 13,713 $ 11,164 Selling, general and administrative $ 5,207 $ 4,286 $ 11,129 $ 8,925 Research and development 1,034 1,096 2,584 2,239 Stock-based compensation expense $ 6,241 $ 5,382 $ 13,713 $ 11,164

Commitments

Commitments	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments	Commitments The Company's future material contractual obligations as of June 30, 2020, included the following: Obligations Total 2020 2021 2022 2023 2024 2025 Beyond Operating leases (1) $ 6,242 $ 980 $ 1,362 $ 1,376 $ 1,291 $ 820 $ 413 $ — Credit facility (2) 37,000 3,000 8,000 26,000 — — — — Purchase obligations (3) 20,286 20,286 — — — — — — Total obligations $ 63,528 $ 24,266 $ 9,362 $ 27,376 $ 1,291 $ 820 $ 413 $ — (1) The Company leases its corporate office location. The term of its existing lease expires on June 30, 2025. The Company also leases its lab space under a lease agreement that expires on October 31, 2023. Rental expense for the operating leases was $351 and $287, for the three months ended June 30, 2020 and 2019. Rental expense for the operating leases was $637 and $573 for the six months ended June 30, 2020 and 2019. The remaining future lease payments under the operating leases are $6,242 as of June 30, 2020. (2) Refer to Note 10 Debt for details of the Revised Credit Agreement entered into as of November 8, 2019. (3) As of June 30, 2020, the Company had purchase obligations in the amount of $20,286 which represents the contractual commitments under contract manufacturing and supply agreements with suppliers. The obligation under the supply agreement is primarily for finished product, inventory, and research and development.

Debt

Debt	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Debt	Debt On November 8, 2019, the Company entered into the Second Amended and Restated Credit Agreement (the “Revised Credit Agreement”), with JPMorgan Chase Bank, N.A., as administrative agent (the “Agent”) and the lenders party thereto, which replaced the Company’s existing credit agreement, dated as of August 8, 2017 (the "Amended Credit Agreement"). The terms and amounts borrowed under the Revised Credit Agreement includes a drawn term loan of $40.0 million and an undrawn revolving credit facility of $110.0 million. The schedule of principal payments for the new term loan facility was extended to November 8, 2022. As of June 30, 2020, the terms and amounts borrowed under the Revised Credit Agreement included a drawn term loan of $40.0 million. The Company obtained revolving loans under the revolving credit facility during the three months ended March 31, 2020 in the amount of $110.0 million. The Company repaid the full $110.0 million borrowed from the revolving credit facility during the three months ended June 30, 2020. The Company classified the current portion of long-term debt of $7.0 million on the consolidated balance sheet as of June 30, 2020. Per the terms of the Revised Credit Agreement, the Company is limited in its ability to pay dividends. As of June 30, 2020, the Company was in compliance with each of the senior secured net leverage ratio; total net leverage ratio; and fixed charge coverage ratio covenants. The term loan facility bears interest at the Adjusted LIBOR (equal to (a) the LIBOR for such Interest Period multiplied by (b) the Statutory Reserve Rate as established by Board of Governors of the Federal Reserve System of the United States of America) for the Interest Period in effect for such Borrowing plus the Applicable Rate as described below. The Agent and the Company may amend the Revised Credit Agreement to replace the LIBOR with a Benchmark Replacement, described below. Loans under the Revised Credit Agreement bear interest at a rate equal to either (a) the LIBOR rate, plus an applicable margin ranging from 2.25% to 3.0% per annum, based upon the total net leverage ratio (as defined in the Revised Credit Agreement), or (b) the Benchmark Replacement which is defined as the greatest of the prime lending rate, or the NYFRB Rate (the rate for a federal funds transaction) in effect on such day plus ½ of 1% or the Adjusted LIBOR for a one month Interest Period on such day plus 1% plus an applicable margin ranging from 1.25% to 2.0% per annum, based upon the total net leverage ratio. The Company is required to pay a commitment fee on the unused portion of the new revolving credit facility in the Revised Credit Agreement at a rate ranging from 0.35% to 0.45% per annum based upon the total net leverage ratio. The Company is obligated to repay a contractually agreed portion of the term loan on the last day of each March, June, September and December in accordance with the Revised Credit Agreement. As of June 30, 2020, the Company had $1.1 million of unamortized deferred debt issuance costs as part of long-term debt in its condensed consolidated balance sheets. Debt Maturities As of June 30, 2020 2020 (remainder) $ 3,000 2021 8,000 2022 26,000 Total $ 37,000

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Income tax provision $ (5,629) $ (2,480) $ (5,492) $ (5,484) Effective tax rate 105 % 27 % 232 % 26 % For interim periods, we recognize an income tax (provision) benefit based on our estimated annual effective tax rate expected for the entire year plus the effects of certain discrete items occurring in the quarter. The interim annual estimated effective tax rate is based on the statutory tax rates then in effect, as adjusted for changes in estimated temporary and estimated permanent differences, and certain discrete items whose tax effect, when material, is recognized in the interim period in which they occur. The provision for income taxes was based on the applicable federal and state tax rates for those periods. The effective tax rate for the three and six months ended June 30, 2020 reflects the impact of a valuation allowance established and adjusted for the fair value adjustments on the Company’s investment in Tyme, certain non-deductible executive compensation, changes in state filing positions partially offset by credits for research and development activity. The effective tax rate for the three months ended June 30, 2019 reflects the impact of certain non-deductible executive compensation partially offset by credits for research and development activity. Deferred income tax assets as of June 30, 2020 consisted of temporary differences primarily related to stock-based compensation and research and development tax credit carryforwards, partially offset by temporary differences related to intangible assets. The Company files income tax returns in the U.S. federal jurisdiction and several states. Given that the Company has incurred tax losses in most years since its inception, all of the Company’s tax years are effectively open to examination. The Company is currently under audit by three State tax jurisdictions. The Company had no amount recorded for any unrecognized tax benefits as of June 30, 2020. The Company regularly evaluates its tax positions for additional unrecognized tax benefits and associated interest and penalties, if applicable. There are many factors that are considered when evaluating these tax positions including: interpretation of tax laws, recent tax litigation on a position, past audit or examination history, and subjective estimates and assumptions. The Company reflects interest and penalties attributable to income taxes, to the extent they arise, as a component of income tax provision or benefit.

Legal Proceedings

Legal Proceedings	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings	Legal Proceedings In addition to the below legal proceedings, from time to time, the Company may be a party to litigation and subject to claims incident to the ordinary course of business. Although the results of litigation and claims cannot be predicted with certainty, the Company currently believes that the final outcome of these ordinary course matters, or matters discussed below, will not have a material adverse effect on the Company's business nor has the Company recorded any loss in connection with these matters because the Company believes that loss is neither probable nor estimable. Regardless of the outcome, litigation can have an adverse impact on the Company because of defense and settlement costs, diversion of management resources and other factors. Commercial Litigation In Re: Taxotere (Docetaxel) On February 1, 2017, the Company was named as a defendant, among various other manufacturers, in several product liability suits that are consolidated in the U.S. District Court for the Eastern District of Louisiana as part of MDL 2740 (Civil Action No 2:16 md-2740), or the Multidistrict Litigation. The claims are for personal injuries allegedly arising out of the use of docetaxel. In March 2017, the Company reached agreements in principle with the Plaintiffs’ Steering Committee in this matter to voluntarily dismiss the Company from all of the lawsuits in which it was named and from the master complaint. The Company is in the process of working with the other parties in this matter to have it removed from the Multidistrict litigation entirely. As part of the agreement, in the event a case is brought in the future with facts that justify the Company’s inclusion, the plaintiffs reserved the right to include the Company in such matter. The plaintiffs have filed several additional lawsuits since the parties’ agreement in principle to dismiss, and the Company is in the process of working with plaintiffs to explore the possibility of dismissing those lawsuits. Eagle v. Burwell On April 27, 2016, the Company filed an action in the U.S. District Court for the District of Columbia (the “District Court”) against the FDA and other federal defendants seeking an order requiring the FDA to recognize orphan drug exclusivity for Bendeka for the treatment of CLL and indolent B-cell NHL. On June 8, 2018, the District Court issued a decision requiring the FDA to recognize seven years of orphan drug exclusivity in the U.S. for Bendeka, and on July 6, 2018 the FDA recognized such ODE until December 7, 2022. In addition, on July 6, 2018, the FDA submitted a Motion to Alter or Amend the Judgement Pursuant to Rule 59(e), pursuant to which the FDA requested that the District Court amend its decision to make clear that the decision does not affect any applications referencing TREANDA. The FDA’s motion was denied by the District Court on August 1, 2018 on the grounds that the FDA had not satisfied the standard for altering or amending the judgment. The FDA and two intervenors appealed the District Court’s final judgment to the U.S. Court of Appeals for the District of Columbia Circuit (the “Court of Appeals”). Oral arguments occurred on October 17, 2019, and on March 13, 2020 a panel of the Court of Appeals affirmed the District Court’s decision. FDA filed a petition for rehearing en banc on May 27, 2020, which remains pending. Previously, on February 20, 2019, the FDA issued a decision in favor of the Company, regarding the scope of orphan drug exclusivity for Bendeka. Pursuant to the FDA’s decision, no bendamustine product used to treat the same indications (including generic versions of TREANDA) may launch in the United States until December 7, 2022 unless it is clinically superior to Bendeka. Eagle v. Eli Lilly On August 24, 2017, the Company filed an antitrust complaint in the United States District Court for the District of New Jersey (“New Jersey District Court”) against Eli Lilly and Company (“Lilly”). The complaint alleges that Lilly engaged in anticompetitive conduct which restrained competition by delaying and blocking the Company’s launch of a competing pemetrexed injection product (to compete with Lilly’s Alimta). Lilly accepted service and answered the complaint on October 27, 2017. Lilly also filed a motion to transfer this case to Delaware on October 27, 2017. The Company filed a motion to oppose such transfer on November 6, 2017. On July 20, 2018, the New Jersey District Court transferred the case to Delaware. On November 27, 2018, the Delaware Court stayed the case at least until conclusion of the Pemfexy TM patent trial described below. On December 16, 2019, the Delaware Court entered the Company and Lilly’s stipulation dismissing this case with prejudice. Chiesi v. Eagle On October 3, 2018, Chiesi USA, Inc. ("Chiesi") filed a complaint against Eagle in the Superior Court of Wake County, North Carolina. The complaint alleges that Eagle has failed to provide adequate information regarding the sales of Argatroban pursuant to a License and Development Agreement between the parties. On July 17, 2019, Chiesi dismissed the actions without prejudice. Cipla v. Eagle On April 16, 2020, Cipla Limited (“Cipla”) filed a request for arbitration against Eagle with the London Court of International Arbitration. The request alleges that Eagle’s refusal to take delivery of several batches of Argatroban finished drug product constitutes a breach of the Company and Cipla’s December 14, 2012 supply agreement. Eagle believes that allegations in the demand for arbitration are without merit and intends to vigorously defend itself in the arbitration. Eagle’s response to Cipla’s statement of the case is due August 12, 2020. Patent Litigation Eli Lilly and Company. v. Eagle Pharmaceuticals, Inc. (Pemfexy TM (Pemetrexed)) On August 14, 2017, Lilly filed suit against the Company in the United States District Court for the Southern District of Indiana (the “Indiana Suit”). Lilly alleged patent infringement based on the filing of the Company’s 505(b)(2) NDA seeking approval to manufacture and sell the Company’s EP-5101. EP-5101, if finally approved by FDA, will be a branded alternative to Alimta®. On September 8, 2017, Eagle moved to dismiss the Indiana Suit for improper venue. On September 11, 2017, Lilly voluntarily dismissed the Indiana Suit. It then filed a complaint in the United States District Court for the District of Delaware, alleging similar patent infringement claims (the “Delaware Suit”). Eagle answered and filed various counterclaims in the Delaware Suit on October 3, 2017. Lilly answered Eagle’s counterclaims on October 24, 2017. On May 31, 2018, Eagle filed a Motion for Judgment on the Pleadings, which the Court denied on October 26, 2018. On January 23, 2019, the Court held a Markman hearing. Trial took place from October 28, 2019 to October 31, 2019 and continued on December 12, 2019 through December 13, 2019. On December 13, 2019, the Company and Lilly settled this litigation. The settlement agreement provides for a release of all claims by the parties and allows for an initial entry of Pemfexy TM into the market (equivalent to approximately a three week supply of current ALIMTA® utilization) on February 1, 2022 and a subsequent uncapped entry on April 1, 2022. On December 16, 2019, the District Court entered the Company and Lilly’s stipulation dismissing this case with prejudice. Eagle Pharmaceuticals, Inc., et al. v. Slayback Pharma Limited Liability Company; Eagle Pharmaceuticals, Inc., et al. v. Apotex Inc. and Apotex Corp.; Eagle Pharmaceuticals, Inc., et al. v. Fresenius Kabi USA, LLC; Eagle Pharmaceuticals, Inc., et al. v. Mylan Laboratories Limited; Eagle Pharmaceuticals, Inc. et al. v. Hospira, Inc; Eagle Pharmaceuticals, Inc. et al. v. Lupin, Ltd. and Lupin Pharmaceuticals, Inc.; Eagle Pharmaceuticals, Inc. et al v. Aurobindo Pharma, Ltd, Aurobindo Pharma USA, Inc., and Eugia Pharma Specialities Ltd - (Bendeka®) Bendeka, which contains bendamustine hydrochloride, is an alkylating drug that is indicated for the treatment of patients with chronic lymphocytic leukemia, as well as for the treatment of patients with indolent B-cell non-Hodgkin's lymphoma that has progressed during or within six months of treatment with rituximab or a rituximab-containing regimen. Slayback Pharma Limited Liability Company (“Slayback”), Apotex Inc. and Apotex Corp. (“Apotex”), Fresenius Kabi USA, LLC (“Fresenius”), Mylan Laboratories Limited (“Mylan”), Lupin, Ltd. and Lupin Pharmaceuticals, Inc. (“Lupin”), and Aurobindo Pharma, Ltd, Aurobindo Pharma USA, Inc., and Eugia Pharma Specialities Ltd (“Aurobindo”) have filed Abbreviated New Drug Applications (“ANDA’s”) referencing Bendeka® that include challenges to one or more of the Bendeka® Orange Book-listed patents. Hospira, Inc. (“Hospira”) filed a 505(b)(2) NDA. The Company, Cephalon, Inc. and/or Teva Pharmaceuticals International GMBH (together the “Patentees”), filed separate suits against Slayback, Apotex, Fresenius, Mylan, Hospira, Lupin, and Aurobindo in the United States District Court for the District of Delaware on August 16, 2017 (Slayback (“Slayback I”)), August 18, 2017 (Apotex), August 24, 2017 (Fresenius), December 12, 2017 (Mylan), January 19, 2018 (Slayback (“Slayback II”)), July 19, 2018 (Hospira), and July 2, 2019 (Lupin). In these Complaints, the Patentees allege infringement of the challenged patents, namely U.S. Patent Nos. 8,791,270 and 9,572,887 against Slayback (Slayback I and Slayback II), and of U.S. Patent Nos. 8,609,707, 8,791,270, 9,000,021, 9,034,908, 9,144,568, 9,265,831, 9,572,796, 9,572,797, 9,572,887, 9,579,384, 9,597,397, 9,597,398, 9,597,399 against Fresenius, Apotex, and Mylan, and of U.S. Patent Nos. 9,572,887, 10,010,533, 9,034,908, 9,144,568, 9,597,397, 9,597,398, 9,597,399, 9,000,021, 9,579,384 against Hospira, and of U.S. Patent Nos. 8,609,707, 9,000,021, 9,034,908, 9,144,568, 9,265,831, 9,572,796, 9,572,797, 9,572,887, 9,579,384, 9,597,397, 9,597,398, 9,597,399, 10,010,533, and 10,052,385 against Lupin. Patentees filed suit against Aurobindo on May 11, 2020. The parties stipulated to dismiss without prejudice U.S. Patent No. 8,791,270 as to Apotex, Fresenius and Mylan on July 24, 2018, August 2, 2018, and August 3, 2018, respectively. Slayback, Apotex, Fresenius, and Mylan answered their Complaints and some filed various counterclaims on September 29, 2017 (Slayback I), February 12, 2018 (Slayback II), November 27, 2017, September 15, 2017, and February 14, 2018, respectively. The Patentees answered the Slayback I, Slayback II, Fresenius, and Apotex counterclaims on October 20, 2017, March 5, 2018, October 6, 2017, and December 18, 2017, respectively. On October 15, 2018, the Patentees filed a suit against Fresenius and Mylan in the United States District Court for the District of Delaware, alleging patent infringement of U.S. Patent Nos. 10,010,533 and 10,052,385. The Slayback I, Slayback II, Apotex, Fresenius and Mylan cases have been consolidated for all purposes (the “Consolidated Bendeka Litigation”), and a bench trial in these cases was held September 9-19, 2019. On April 27, 2020, the district court held that the asserted patents are valid and infringed by Slayback, Apotex, Fresenius and Mylan. On July 6, 2020, the district court entered a final judgment reflecting this decision, stating that pursuant to 35 U.S.C. § 271(e)(4)(A), the FDA shall not approve Apotex’s, Fresenius’s, Mylan’s, or Slayback’s ANDA products on a date which is earlier than January 28, 2031, and enjoining Apotex, Fresenius, Mylan, and Slayback from commercially manufacturing, using, offering to sell, or selling within the US or importing into the US, their ANDA products before that date. Hospira filed a motion to dismiss, which was fully briefed on November 16, 2018. On December 16, 2019, the United States District Court for the District of Delaware denied Hospira’s motion to dismiss with respect to U.S. Patent No. 9,572,887 and granted that motion with respect to the remaining patents. Trial is set for November 15, 2021. The case remains pending. The FDA is stayed from approving Hospira’s 505(b)(2) application until the earlier of (1) December 20, 2020 (the “30-month stay date”); and (2) a court decision that the ‘887 patent is not infringed, invalid, or unenforceable. The 30-month stay dates may be shortened or lengthened if either party to the action fails to reasonably cooperate in expediting the action. Eagle Pharmaceuticals, Inc. v. Slayback Pharma Limited Liability Company Slayback filed an ANDA referencing Eagle's Belrapzo NDA. Slayback’s ANDA includes challenges to one or more of the Belrapzo Orange Book-listed patents. On September 20, 2018, the Company filed a suit against Slayback in the United States District Court for the District of Delaware, alleging patent infringement of U.S. Patent Nos. 8,609,707, 9,265,831, 9,572,796, 9,572,797 and 10,010,533. On October 10, 2018, Slayback answered the Complaint and filed various counterclaims. On October 31, 2018, the Company answered Slayback’s counterclaims. Pursuant to a stipulation between the parties, Slayback is bound by any final judgment entered in the Consolidated Bendeka Litigation. This case is currently stayed. Eagle Pharmaceuticals, Inc. v. Slayback Pharma Limited Liability Company Slayback filed a 505(b)(2) NDA referencing Eagle’s Belrapzo NDA. Slayback’s NDA includes challenges to one or more of the Belrapzo Orange Book-listed patents. On December 11, 2018, the Company filed a suit against Slayback in the United States District Court for the District of Delaware, alleging patent infringement of U.S. Patent Nos. 9,265,831, 9,572,796, 9,572,797, and 10,010,533. On January 4, 2019, Slayback filed a motion for judgment on the pleadings. On May 9, 2019, the United States District Court for the District of Delaware granted Slayback’s motion for judgment on the pleadings. On July 23, 2019, the Company filed an appeal of this decision with the United States Court of Appeals for the Federal Circuit. On May 8, 2020, the Federal Circuit upheld the district court’s decision. Par Pharmaceutical, Inc. et al. v. Eagle Pharmaceuticals, Inc. (Vasopressin) On May 31, 2018, Par Pharmaceutical, Inc., Par Sterile Products, LLC, and Endo Par Innovation Company, LLC (together “Par”) filed suit against the Company in the United States District Court for the District of Delaware. Par alleged patent infringement based on the filing of the Company’s ANDA seeking approval to manufacture and sell the Company’s vasopressin product. The Company’s vasopressin product, if approved by FDA, will be an alternative to Vasostrict, which is indicated to increase blood pressure in adults with vasodilatory shock (e.g., post-cardiotomy or sepsis) who remain hypotensive despite fluids and catecholamines. The Company answered the complaint on August 6, 2018, and filed an amended answer and counterclaims on October 30, 2019. The court issued a Markman ruling on July 1, 2019. On December 20, 2019, Par dismissed with prejudice claims of three of the patents asserted against Eagle, and the Court entered an Order reflecting that dismissal on December 27, 2019. Mediation took place on March 3, 2020. On April 17, 2020, the Company submitted a letter requesting leave to file a motion for summary judgment of non-infringement. Par’s responsive letter was submitted on May 8, 2020. On May 18, 2020, the court said it would hear non-infringement arguments at trial and not through summary judgment. Due to the COVID-19 pandemic, trial, which was scheduled to begin May 18, 2020, has been adjourned to a future date. This suit is pending. Eagle Pharmaceuticals, Inc. et al. v. Accord (Argatroban)

Collaboration with Tyme (Notes)

Collaboration with Tyme (Notes)	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Collaboration with Tyme	Collaboration with Tyme On January 7, 2020, Tyme and the Company announced a strategic collaboration to advance SM-88, an oral product candidate for the treatment of patients with cancer. SM-88 is an investigational agent in two Phase II studies, one for pancreatic cancer and another for prostate cancer. Under the terms of the related agreements, Tyme is entitled to receive up to a total $40.0 million as follows: (a) an initial $20.0 million upfront payment. In return, we received 10 million restricted shares of Tyme’s common stock at $2.00 per share. The Company is contractually restricted from selling its investment in Tyme for up to three years; and (b) a second potential $20.0 million milestone payment upon the earlier of (i) the successful completion of a pivotal trial in pancreatic cancer or (ii) FDA approval of SM-88 in any cancer indication within the United States. Upon occurrence of such milestone event, this payment would be split into a $10.0 million one-time milestone cash payment and a $10.0 million additional investment in Tyme's preferred stock. The preferred shares will be convertible into common stock with a conversion price at a 15% premium to the then-prevailing common stock market price per share. Under the terms of a related co-promotion agreement, we would be responsible for 25% of the promotional sales effort of SM-88 and would receive 15% royalty on the net revenues of SM-88 in the United States. Tyme is be responsible for clinical development, regulatory approval, commercial strategy, marketing, reimbursement and manufacturing of SM-88. Tyme retains the remaining 85% of net U.S. revenues and reserves the right to repurchase our U.S. co-promotion right for $200.0 million. Under the terms of the agreement, the initial $20.0 million paid to Tyme, was accounted for as a $17.5 million readily determinable fair value equity investment based on the closing price per share of Tyme's common stock on January 7, 2020. The remainder was treated as an upfront collaboration payment of $2.5 million that was recorded as selling, general and administrative expense in the first quarter of 2020. The investment in Tyme represents approximately 9% of the total shares outstanding of Tyme's common stock.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates These financial statements are presented in U.S. dollars and are prepared in accordance with U.S. GAAP. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed financial statements including disclosure of contingent assets and contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period and accompanying notes. The Company’s critical accounting policies are those that are both most important to the Company’s financial condition and results of operations and require the most difficult, subjective or complex judgments on the part of management in their application, often as a result of the need to make estimates about the effect of matters that are inherently uncertain. The Company anticipates that the COVID-19 pandemic may disrupt the Company’s supply chain and marketing and sales efforts for certain of its products, including Bendeka, although it is not currently expected that any disruption would be significant. As of the date of issuance of these financial statements, the Company is not aware of any specific event or circumstance that would require the Company to update its estimates, assumptions and judgments or revise the carrying value of its assets or liabilities. Because of the uncertainty of factors surrounding the estimates or judgments used in the preparation of the financial statements, actual results may materially vary from these estimates, and any such differences may be material to the Company’s financial statements.
Reclassifications	Reclassifications Certain reclassifications have been made to prior year amounts to conform with the current year presentation. None of the reclassifications were significant.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. All cash and cash equivalents are held in United States financial institutions. The carrying amount of cash and cash equivalents approximates its fair value due to its short-term nature. The Company, at times, maintains balances with financial institutions in excess of the Federal Deposit Insurance Corporation (“FDIC”) limit.
Fair Value Measurements	Fair Value Measurements U.S. GAAP establishes a framework for measuring fair value under generally accepted accounting principles and enhances disclosures about fair value measurements. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The standard describes the following fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value: • Level 1: Quoted prices in active markets for identical assets or liabilities. • Level 2: Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The fair value of interest-bearing cash, cash equivalents, accounts receivable and accounts payable approximate fair value due to their life being short term in nature, and are classified as Level 1 for all periods presented. Our investment in restricted shares of Tyme’s common stock are classified as Level 1. Refer to Note 13, Collaboration with Tyme for further details. The fair value of debt is classified as Level 2 for the periods presented and approximates its fair value due to the variable interest rate. The fair value of any contingent consideration/accrued royalty was classified as Level 3 for the periods presented.
Intangible Assets	Intangible Assets The Company capitalizes and includes in intangible assets the costs of acquired product licenses and developed technology purchased individually or identified in a business combination. Intangible assets are recorded at fair value at the time of their acquisition and stated net of accumulated amortization. The Company amortizes its definite-lived intangible assets using either the straight-line or accelerated method, based on the useful life of the asset over which it is expected to be consumed utilizing expected undiscounted future cash flows. The Company will evaluate the potential impairment of intangible assets if events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable or that the useful lives of these assets are no longer appropriate. Events giving rise to impairment are an inherent risk in our industry and many factors cannot be predicted. Factors that we consider in deciding when to perform an impairment review include significant changes in our forecasted projections for the asset or asset group for reasons including, but not limited to, significant under-performance of a product in relation to expectations, significant changes or planned changes in our use of the assets, significant negative industry or economic trends, and new or competing products that enter the marketplace. The impairment test is based on a comparison of the undiscounted cash flows expected to be generated from the use of the asset group and its eventual disposition to the carrying value of the asset group. If impairment is indicated, the asset is written down by the amount by which the carrying value of the asset exceeds the related fair value of the asset with the related impairment charge recognized within the condensed consolidated statements of operations. With respect to determining an asset’s fair value and useful life, because this process involves management making certain estimates and these estimates form the basis of the determination of whether or not an impairment charge should be recorded,
Goodwill	GoodwillGoodwill represents the excess of purchase price over the fair value of net assets acquired in the Eagle Biologics acquisition. Goodwill is not amortized, but is evaluated for impairment on an annual basis, in the fourth quarter, or more frequently if events or changes in circumstances indicate that the reporting unit’s goodwill is less than its carrying amount.
Concentration of Major Customers and Vendors	Concentration of Major Customers and Vendors The Company is dependent on commercial partners to market and sell Bendeka. The Company's customers for Bendeka are its commercial and licensing partners; therefore, the Company's future revenues are highly dependent on these collaboration and distribution arrangements.
Inventories	Inventories Inventories are recorded at the lower of cost or expected net realizable value, with cost determined on a first-in first-out basis. The Company periodically reviews the composition of inventory in order to identify obsolete, slow-moving or otherwise non-saleable items. If non-saleable items are observed and there are no alternate uses for the inventory, the Company will record a write-down to net realizable value in the period that the decline in value is first recognized.
Property and Equipment	Property and Equipment Property and equipment are stated at cost. Depreciation is recorded over the estimated useful lives of the assets utilizing the straight-line method. Leasehold improvements are being amortized over the shorter of their useful lives or the lease term.
Research and Development Expense	Research and Development Expense Costs for research and development are charged to expense as incurred and include; employee-related expenses including salaries, benefits, travel and stock-based compensation expense for research and development personnel; expenses incurred under agreements with contract research organizations, contract manufacturing organizations and service providers that assist in conducting clinical and preclinical studies; costs associated with preclinical activities and development activities, costs associated with regulatory operations; and depreciation expense for assets used in research and development activities. Costs for certain development activities, such as clinical studies, are recognized based on an evaluation of the progress to completion of specific tasks using data such as patient enrollment, clinical site activations, or information provided to the Company by its vendors on their actual costs incurred. Payments for these activities are based on the terms of the individual arrangements, which may differ from the patterns of costs incurred, and are reflected in the condensed consolidated financial statements as prepaid expenses or accrued expenses as deemed appropriate. Recoveries of previously recognized research and development expenses from third parties are recorded as a reduction to research and development expense in the period it becomes realizable.
Advertising and Marketing	Advertising and MarketingAdvertising and marketing costs are expensed as incurred.
Income Taxes	Income Taxes The Company accounts for income taxes using the liability method in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”), Topic 740 - Income Taxes (“ASC 740”). Deferred tax assets and liabilities are determined based on temporary differences between financial reporting and tax bases of assets and liabilities and are measured by applying enacted rates and laws to taxable years in which differences are expected to be recovered or settled. Further, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income (loss) in the period that the rate changes. A valuation allowance is required when it is “more likely than not” that all or a portion of deferred tax assets will not be realized. ASC 740 also prescribes a comprehensive model for how a company should recognize, measure, present and disclose in its financial statements uncertain tax positions that the company has taken or expects to take on a tax return, including a decision whether to file or not file a return in a particular jurisdiction. We recognize any interest and penalties accrued related to unrecognized tax benefits as income tax expense.
Revenue Recognition	Revenue Recognition Revenue is recognized when a customer obtains control of promised goods or services, in an amount that reflects the consideration which the entity expects to receive in exchange for those goods or services. To determine revenue recognition for arrangements that an entity determines are within the scope of ASC 606, the Company performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised within each contract and determines those that are performance obligations, and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. Sales, value add, and other taxes collected on behalf of third parties are excluded from revenue. Receivables from our product sales have payment terms ranging from 30 to 75 days with select extended terms to wholesalers on initial purchases of product launch quantities. Our receivables from royalty revenue are due 45 days from the end of the quarter. Product revenue - The Company recognizes net revenue on sales to its commercial partners and to end users. In each instance, revenue is generally recognized when the customer obtains control of the Company’s product, which occurs at a point in time, and may be upon shipment or upon delivery based on the contractual shipping terms of a contract. Revenue on sales to commercial partners relates to Argatroban and Bendeka. Sales to our commercial partners are presented gross because the Company is primarily responsible for fulfilling the promise to provide the product, is responsible to ensure that the product is produced in accordance with the related supply agreement and bears risk of loss while the inventory is in-transit to the commercial partner. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring products or services to a customer. To the extent the transaction price includes variable consideration, the Company estimates the amount of variable consideration that should be included in the transaction price utilizing the expected value method to which the Company expects to be entitled. As such, revenue on sales to customers for Belrapzo, Non-Alcohol Docetaxel Injection, Ryanodex and diclofenac-misoprostol are recorded net of chargebacks, rebates, returns, prompt pay discounts, wholesaler fees and other deductions. Our products are contracted with a limited number of oncology distributors and hospital buying groups with narrow differences in ultimate realized contract prices used to estimate our chargeback and rebate reserves. The Company has a product return policy on some of its products that allows the customer to return pharmaceutical products within a specified period of time both prior to and subsequent to the product’s expiration date. The Company's estimate of the provision for returns is analyzed quarterly and is based upon many factors, including historical experience of actual returns and analysis of the level of inventory in the distribution channel, if any. The Company has terms on sales of Ryanodex by which the Company does not accept returns. Variable consideration is included in the transaction price if, in the Company’s judgment, it is probable that a significant future reversal of cumulative revenue under the contract will not occur. Estimates of variable consideration are made using the expected value method and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of the Company’s anticipated performance and all information (historical, current and forecasted) that is reasonably available. The Company believes that the estimates it has established are reasonable based upon current facts and circumstances. Applying different judgments to the same facts and circumstances could result in the estimated amounts to vary. Royalty Revenue — The Company recognizes revenue from license arrangements with its commercial partners' net sales of products. In accordance with ASC 606-10-55-65, royalties are recognized when the subsequent sale of the commercial partner’s products occurs. The Company's commercial partners are obligated to report their net product sales and the resulting royalty due to the Company within 25 days for Bendeka and 60 days for Argatroban from the end of each quarter. Based on historical product sales, royalty receipts and other relevant information, the Company accrues royalty revenue each quarter and subsequently determines a true-up when it receives royalty reports from its commercial partners. Historically, these true-up adjustments have been immaterial. License and other revenue — The Company analyzes each element of its licensing agreements to determine the appropriate revenue recognition. The terms of the license agreement may include payment to us of non-refundable up-front license fees, milestone payments if specified objectives are achieved, and/or royalties on product sales. The Company recognizes revenue from upfront payments at a point in time, typically upon fulfilling the delivery of the associated intellectual property to the customer. If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price based on the estimated relative standalone selling prices of the promised products or services underlying each performance obligation. The Company determines standalone selling prices based on the price at which the performance obligation is sold separately. If the standalone selling price is not observable through past transactions, the Company estimates the standalone selling price taking into account available information such as market conditions and internally approved pricing guidelines related to the performance obligations. The Company recognizes sales-based milestone payments as revenue upon the achievement of the cumulative sales amount specified in the contract in accordance with ASC 606-10-55-65. For those milestone payments which are contingent on the occurrence of particular future events, the Company determined that these need to be considered for inclusion in the calculation of total consideration from the contract as a component of variable consideration using the most-likely amount method. As such, the Company assesses each milestone to determine the probability and substance behind achieving each milestone. Given the inherent uncertainty of the occurrence of these future events, the Company will not recognize revenue from the milestone until there is not a high probability of a reversal of revenue, which typically occurs near or upon achievement of the event. When determining the transaction price of a contract, an adjustment is made if payment from a customer occurs either significantly before or significantly after performance, resulting in a significant financing component. Applying the practical expedient in paragraph 606-10-32-18, the Company does not assess whether a significant financing component exists if the period between when the Company performs its obligations under the contract and when the customer pays is one year or less. None of the Company’s contracts contained a significant financing component as of June 30, 2020. Collaborative licensing and development revenue — The Company recognizes revenue from reimbursements received in connection with feasibility studies and development work for third parties when its contractual services are performed, provided collectability is reasonably assured. Its principal costs under these agreements include its personnel conducting research and development, its allocated overhead, as well as the research and development performed by outside contractors or consultants.
Stock-Based Compensation	Stock-Based Compensation The Company accounts for stock-based compensation using the fair value provisions of ASC 718, Compensation - Stock Compensation that requires the recognition of compensation expense, using a fair-value based method, for costs related to all stock-based payments including stock options and restricted stock. This topic requires companies to estimate the fair value of the stock-based awards on the date of grant for options issued to employees and directors and record expense over the employees' service periods, which are generally the vesting period of the equity awards. The Company accounts for stock-based compensation by measuring and recognizing compensation expense for all stock-based payments made to employees and directors based on estimated grant date fair values. The straight-line method is used to allocate compensation cost to reporting periods over each optionee's requisite service period, which is generally the vesting period. The fair value of the Company's stock-based awards to employees and directors is estimated using the Black-Scholes valuation model or a Monte Carlo simulation model. These models require the input of subjective assumptions, including the expected stock price volatility, the calculation of expected term, forfeitures and the fair value of the underlying common stock on the date of grant, among other inputs. The risk-free interest rate is determined with the implied yield currently available for zero-coupon U.S. government issues with a remaining term approximating the expected life of the options.
Earnings Per Share	Earnings Per Share Basic earnings per common share is computed using the weighted average number of shares outstanding during the period. Diluted earnings per share is computed in a manner similar to the basic earnings per share, except that the weighted-average number of shares outstanding is increased to include all common shares, including those with the potential to be issued by virtue of warrants, options, convertible debt and other such convertible instruments. Diluted earnings per share contemplate a complete conversion to common shares of all convertible instruments only if they are dilutive in nature with regards to earnings per share.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recent Accounting Pronouncements - Not Yet Adopted In March 2020, the FASB issued Update 2020-04 Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting to provide temporary optional guidance to ease the potential burden in accounting for reference rate reform. The amendments in Update 2020-04 are elective and apply to all entities that have contracts, hedging relationships, and other transactions that reference LIBOR, formerly known as the London Interbank Offered Rate, or another reference rate expected to be discontinued due to reference rate reform. The new guidance provides optional expedients, including; (1) Simplify accounting analyses under current GAAP for contract modifications, such as modifications of contracts within the scope of Topic 470, Debt, that will be accounted for by prospectively adjusting the effective interest rate, as if any modification was not substantial. That is, the original contract and the new contract shall be accounted for as if they were not substantially different from one another; (2) Simplify the assessment of hedge effectiveness and allow hedging relationships affected by reference rate reform to continue; (3) Allow a one-time election to sell or transfer debt securities classified as held to maturity before January 1, 2020 that reference a rate affected by reference rate reform. The amendments are effective for all entities from the beginning of an interim period that includes the issuance date of the ASU. An entity may elect to apply the amendments prospectively through December 31, 2022. The adoption of ASU 2020-4 is not expected to have a material impact on the Company's financial position or results of operations. Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses which requires financial assets measured at amortized cost basis to be presented at the net amount expected to be collected. This standard is effective for fiscal years beginning after December 15, 2019 and the Company adopted the standard effective January 1, 2020. The adoption of ASU 2016-13 had no material impact on the Company's financial position and results of operations. CARES Act On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into U.S. federal law, which is aimed at providing emergency assistance and health care for individuals, families, and businesses affected by the COVID-19 pandemic and generally supporting the U.S. economy. The CARES Act, among other things, includes provisions related to refundable payroll tax credits, deferment of the employer portion of social security payments, net operating loss carryback periods, modifications to the net interest deduction limitations, and technical corrections to tax depreciation methods for qualified improvement property. The CARES Act has not had, and the Company does not currently expect it to have, a material impact on the Company’s financial statements at this time. Leases The Company leases its corporate office under an amended lease agreement that expires on June 30, 2025 (the "Corporate Office Lease"). The Corporate Office Lease was amended on August 8, 2019 to extend the term through such date and to increase the amount of leased office space. The Company also leases lab space under a lease agreement that expires on October 31, 2023 (the "Lab Space Lease"). The Company estimated the right of use asset and the corresponding lease liability, on a discounted basis, as of the adoption date of January 1, 2019. The future minimum lease payments under this Corporate Office Lease are approximately $6.6 million. For the Company's two operating leases (the Corporate Office Lease and Lab Space Lease), the depreciation and interest expense components are combined and recognized ratably over the remaining term of the lease as research and development and selling, general and administrative in the Company's condensed consolidated statements of operations, respectively. The Company used its estimated incremental borrowing rate to calculate the present value of the right of use ("ROU") assets and lease liabilities as of the date of adoption date. The implicit interest rate related to the Company’s two lease agreements was not known as of the date of adoption. Therefore, the Company calculated an incremental borrowing rate based on the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term and amount equal to the lease payments in a similar economic environment .

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Schedule of revenues and accounts receivables by major customers	The total revenues and accounts receivables broken down by major customers as a percentage of the total are as follows: Three Months Ended Six Months Ended 2020 2019 2020 2019 Net revenues Cephalon, Inc. (Teva) - See Revenue Recognition 78 % 67 % 71 % 75 % Other 22 % 33 % 29 % 25 % 100 % 100 % 100 % 100 % June 30, December 31, 2020 2019 Accounts receivable Cephalon, Inc. (Teva) - See Revenue Recognition 76 % 80 % Other 24 % 20 % 100 % 100 %
Schedule of dilutive and anti-dilutive common shares equivalents outstanding	The anti-dilutive common shares equivalents outstanding for the three and six months ended June 30, 2020 and 2019 were as follows: Three Months Ended Six Months Ended 2020 2019 2020 2019 Stock Options 2,909,289 2,437,505 2,909,289 2,567,433 Restricted stock units 229,100 38,947 253,677 40,133 Total 3,138,389 2,476,452 3,162,966 2,607,566
Computation for basic and diluted net (loss) earnings per share	The following table sets forth the computation for basic and diluted net (loss) earnings per share for the three and six months ended June 30, 2020 and 2019: Three Months Ended Six Months Ended 2020 2019 2020 2019 Numerator Numerator for basic and diluted earnings per share-net (loss) income $ (256) $ 6,725 $ (3,127) $ 15,698 Denominator Basic weighted average common shares outstanding 13,664,951 13,782,720 13,666,279 13,853,580 Dilutive effect of stock awards — 373,907 — 322,717 Diluted weighted average common shares outstanding 13,664,951 14,156,627 13,666,279 14,176,297 Basic net (loss) earnings per share Basic net (loss) earnings per share $ (0.02) $ 0.49 $ (0.23) $ 1.13 Diluted net (loss) earnings per share Diluted net (loss) earnings per share $ (0.02) $ 0.48 $ (0.23) $ 1.11

Property and equipment, net (Ta

Property and equipment, net (Tables)	6 Months Ended
	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Schedule of property and equipment, net	Property and equipment consisted of the following: June 30, 2020 December 31, 2019 Estimated Useful Life (years) Furniture and fixtures $ 1,476 $ 1,188 7 Office equipment 1,077 1,094 3 Equipment 3,189 3,095 7 Leasehold improvements 1,155 1,144 2 6,897 6,521 Less accumulated depreciation (4,779) (4,319) Property and equipment, net $ 2,118 $ 2,202

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2020
Inventory Disclosure [Abstract]
Schedule of inventories	Inventories consist of the following: June 30, December 31, 2020 2019 Raw material $ 5,385 $ 2,460 Work in process 2,323 3,243 Finished products 183 863 $ 7,891 $ 6,566

Balance Sheet Accounts (Tables)

Balance Sheet Accounts (Tables)	6 Months Ended
	Jun. 30, 2020
Balance Sheet Related Disclosures [Abstract]
Schedule of prepaid and other current assets	Prepaid and other current assets consist of the following: June 30, December 31, 2020 2019 Prepaid income taxes $ 341 $ 4,661 Prepaid FDA user fee and advances to clinical research organization 325 6,345 Prepaid insurance 697 191 Advances to commercial manufacturers 2,938 2,462 All other 1,250 1,445 Total Prepaid expenses and other current assets $ 5,551 $ 15,104
Schedule of accrued expenses	Accrued expenses consist of the following: June 30, December 31, 2020 2019 Accrued sales reserves $ 5,774 $ 8,364 Royalties payable to commercial partners 4,755 6,004 Accrued salary and other compensation 4,135 8,083 Accrued professional fees 1,514 1,926 Accrued research & development 1,123 1,686 Current portion of lease liability 1,110 1,101 Accrued other 1,367 1,197 Total Accrued expenses $ 19,778 $ 28,361
Lease related disclosures	Lease related disclosures consist of the following: June 30, December 31, June 30, 2020 2019 2019 ROU asset, net included in Other assets $ 4,087 $ 3,716 $ 2,483 Lease liability included with Other long-term liabilities $ 3,361 $ 3,000 $ 1,560 Lease liability included with Accrued expenses and other liabilities $ 1,110 $ 1,101 $ 1,051 Quarter to date ("QTD") depreciation of ROU asset $ 250 n/a $ 261 QTD related rent expense $ 351 n/a $ 286 Year to date ("YTD") depreciation of ROU asset $ 471 n/a $ 522 YTD related rent expense $ 637 n/a $ 573 YTD operating cash flows from operating leases $ 637 n/a $ 573 YTD operating lease costs $ 637 n/a $ 573 Weighted-average remaining lease term - operating leases 4.4 years 5.0 years 2.8 years Weighted-average discount rate - operating leases 6.5 % 6 % 6.4 %
Future minimum lease payments	As of June 30, 2020, the future minimum lease commitments for the Company's two leases were as follows: Total 2020 2021 2022 2023 2024 2025 Beyond $ 6,242 $ 980 $ 1,362 $ 1,376 $ 1,291 $ 820 $ 413 $ — As of December 31, 2019, the future minimum lease commitments for the Company's two leases were as follows: Total 2020 2021 2022 2023 2024 2025 $ 6,607 $ 1,345 $ 1,362 $ 1,376 $ 1,291 $ 820 $ 413

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible asset	The gross carrying amounts and net book value of the Company's intangible assets are as follows: June 30, 2020 Useful Life (In Years) Gross Carrying Amount Accumulated Amortization Net Book Value Ryanodex intangible (i) 20 $ 15,000 $ (2,977) $ 12,023 Developed technology 5 8,100 (5,873) 2,227 Total $ 23,100 $ (8,850) $ 14,250 December 31, 2019 Useful Life (In Years) Gross Carrying Amount Accumulated Amortization Net Book Value Ryanodex intangible (i) 20 15,000 (2,454) 12,546 Developed technology 5 8,100 (5,063) 3,037 Total $ 23,100 $ (7,517) $ 15,583 (i) Represent payments made to reduce the royalties payable to a third party on Ryanodex net sales.
Schedule of future amortization expense of finite-lived intangible assets	Based on definite-lived intangible assets recorded as of June 30, 2020, and assuming that the underlying assets will not be impaired and that the Company will not change the expected lives of the assets, future amortization expenses are estimated as follows: Estimated Amortization Expense Year Ending December 31, 2020 (remainder) 1,333 2021 2,622 2022 1,369 2023 1,570 2024 1,898 Thereafter 5,458 Total estimated amortization expense $ 14,250

Common Stock and Stock-Based _2

Common Stock and Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Summary of stock options, RSU and PSU activity	A summary of stock option, RSU and PSU activity under the 2014 Plan during the six months ended June 30, 2020 and 2019 is presented below: Stock Options RSUs PSUs Outstanding at December 31, 2018 2,556,365 54,219 117,219 Granted 579,133 211,829 — Options Exercised/RSUs Vested/PSUs Vested (7,382) (13,555) — Forfeited or expired (17,622) (531) (709) Outstanding at June 30, 2019 3,110,494 251,962 116,510 Outstanding at December 31, 2019 3,096,161 251,215 116,181 Granted 600,700 231,450 — Options Exercised/RSUs Vested/PSUs Vested (38,951) (67,970) — Forfeited or expired (78,478) (11,074) (2,431) Outstanding at June 30, 2020 3,579,432 403,621 113,750
Fair value of stock options	The fair value of stock options granted to employees, directors, and consultants were estimated using the following assumptions: Three Months Ended Six Months Ended 2020 2019 2020 2019 Risk-free interest rate 0.44% - 0.44% 1.97% - 2.41% 0.44% - 1.65% 1.97% - 2.61% Volatility 55.46% 50.16% 54.94% 50.45% Expected term (in years) 6.08 years 6.08 years 6.03 years 5.98 years Expected dividend yield 0.0% 0.0% 0.0% 0.00%
Share-based payment arrangement, cost by plan	The Company recognized stock-based compensation in its condensed consolidated statements of operations for the three and six months ended June 30, 2020 and 2019 as follows: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Stock options $ 4,153 $ 3,967 $ 9,146 $ 8,395 RSUs 1,334 643 3,186 1,251 PSUs 754 772 1,381 1,518 Stock-based compensation expense $ 6,241 $ 5,382 $ 13,713 $ 11,164 Selling, general and administrative $ 5,207 $ 4,286 $ 11,129 $ 8,925 Research and development 1,034 1,096 2,584 2,239 Stock-based compensation expense $ 6,241 $ 5,382 $ 13,713 $ 11,164

Commitments (Tables)

Commitments (Tables)	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Schedule of operating lease obligations and purchase obligations	future material contractual obligations as of June 30, 2020, included the following: Obligations Total 2020 2021 2022 2023 2024 2025 Beyond Operating leases (1) $ 6,242 $ 980 $ 1,362 $ 1,376 $ 1,291 $ 820 $ 413 $ — Credit facility (2) 37,000 3,000 8,000 26,000 — — — — Purchase obligations (3) 20,286 20,286 — — — — — — Total obligations $ 63,528 $ 24,266 $ 9,362 $ 27,376 $ 1,291 $ 820 $ 413 $ — (1) The Company leases its corporate office location. The term of its existing lease expires on June 30, 2025. The Company also leases its lab space under a lease agreement that expires on October 31, 2023. Rental expense for the operating leases was $351 and $287, for the three months ended June 30, 2020 and 2019. Rental expense for the operating leases was $637 and $573 for the six months ended June 30, 2020 and 2019. The remaining future lease payments under the operating leases are $6,242 as of June 30, 2020. (2) Refer to Note 10 Debt for details of the Revised Credit Agreement entered into as of November 8, 2019. (3) As of June 30, 2020, the Company had purchase obligations in the amount of $20,286 which represents the contractual commitments under contract manufacturing and supply agreements with suppliers. The obligation under the supply agreement is primarily for finished product, inventory, and research and development.

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Schedule of debt maturities	Debt Maturities As of June 30, 2020 2020 (remainder) $ 3,000 2021 8,000 2022 26,000 Total $ 37,000

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Schedule of effective income tax rate reconciliation	Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Income tax provision $ (5,629) $ (2,480) $ (5,492) $ (5,484) Effective tax rate 105 % 27 % 232 % 26 %

Organization and Business Act_2

Organization and Business Activities (Details)	6 Months Ended
	Jun. 30, 2020product
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of products commercially launched	3

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Goodwill impairment loss			$ 0
Advertising and marketing costs	$ 775,000	$ 491,000	$ 1,888,000	$ 1,117,000
Bendeka
Disaggregation of Revenue [Line Items]
Period after quarter commercial partners report net product sales			25 days
EP-1101
Disaggregation of Revenue [Line Items]
Period after quarter commercial partners report net product sales			60 days

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Revenue and Accounts Receivable By Major Customer (Details) - Customer Concentration Risk	3 Months Ended			6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Net Revenues
Concentration Risk [Line Items]
Percentage of concentration (in percentage)	100.00%	100.00%		100.00%	100.00%
Net Revenues | Cephalon, Inc.
Concentration Risk [Line Items]
Percentage of concentration (in percentage)	78.00%	67.00%		71.00%	75.00%
Net Revenues | Other
Concentration Risk [Line Items]
Percentage of concentration (in percentage)	22.00%	33.00%		29.00%	25.00%
Accounts Receivable
Concentration Risk [Line Items]
Percentage of concentration (in percentage)			100.00%	100.00%
Accounts Receivable | Cephalon, Inc.
Concentration Risk [Line Items]
Percentage of concentration (in percentage)			80.00%	76.00%
Accounts Receivable | Other
Concentration Risk [Line Items]
Percentage of concentration (in percentage)			20.00%	24.00%

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Anti-Dilutive Common Shares Equivalents Outstanding (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common shares equivalents outstanding (in shares)	3,138,389	2,476,452	3,162,966	2,607,566
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common shares equivalents outstanding (in shares)	2,909,289	2,437,505	2,909,289	2,567,433
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common shares equivalents outstanding (in shares)	229,100	38,947	253,677	40,133

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Schedule of Basic and Diluted Net (Loss) Earnings (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Numerator
Numerator for basic and diluted earnings per share-net (loss) income	$ (256)	$ 6,725	$ (3,127)	$ 15,698
Net loss	$ (256)	$ 6,725	$ (3,127)	$ 15,698
Denominator
Basic weighted average common shares outstanding (in shares)	13,664,951	13,782,720	13,666,279	13,853,580
Dilutive effect of stock options (in shares)	0	373,907	0	322,717
Diluted weighted average common shares outstanding (in shares)	13,664,951	14,156,627	13,666,279	14,176,297
Basic net (loss) earnings per share
Basic net (loss) earnings per share (in usd per share)	$ (0.02)	$ 0.49	$ (0.23)	$ 1.13
Diluted net (loss) earnings per share
Diluted net (loss) earnings per share (in usd per share)	$ (0.02)	$ 0.48	$ (0.23)	$ 1.11

Property and equipment, net (De

Property and equipment, net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 6,897		$ 6,897		$ 6,521
Less accumulated depreciation	(4,779)		(4,779)		(4,319)
Property and equipment, net	2,118		2,118		2,202
Depreciation expense	209	$ 241	460	$ 483
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,476		$ 1,476		1,188
Estimated Useful Life (years)			7 years
Office equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,077		$ 1,077		1,094
Estimated Useful Life (years)			3 years
Equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	3,189		$ 3,189		3,095
Estimated Useful Life (years)			7 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 1,155		$ 1,155		$ 1,144
Estimated Useful Life (years)			2 years

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Raw material	$ 5,385	$ 2,460
Work in process	2,323	3,243
Finished products	183	863
Inventories	$ 7,891	$ 6,566

Balance Sheet Accounts - Prepai

Balance Sheet Accounts - Prepaid and Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Balance Sheet Related Disclosures [Abstract]
Prepaid income taxes	$ 341	$ 4,661
Prepaid FDA user fee and advances to clinical research organization	325	6,345
Prepaid insurance	697	191
Advances to commercial manufacturers	2,938	2,462
All other	1,250	1,445
Total Prepaid expenses and other current assets	$ 5,551	$ 15,104

Balance Sheet Accounts - Accrue

Balance Sheet Accounts - Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Balance Sheet Related Disclosures [Abstract]
Accrued sales reserves	$ 5,774	$ 8,364
Royalties payable to commercial partners	4,755	6,004
Accrued salary and other compensation	4,135	8,083
Accrued professional fees	1,514	1,926
Accrued research & development	1,123	1,686
Current portion of lease liability	1,110	1,101
Accrued other	1,367	1,197
Total Accrued expenses	$ 19,778	$ 28,361

Balance Sheet Accounts - Lease

Balance Sheet Accounts - Lease Related Disclosures (Details) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)lease	Jun. 30, 2019USD ($)	Dec. 31, 2019USD ($)lease
Balance Sheet Related Disclosures [Abstract]
Future minimum lease payments	$ 6,242		$ 6,242		$ 6,607
Number of operating leases | lease			2		2
ROU asset, net included in Other assets	$ 4,087	$ 2,483	$ 4,087	$ 2,483	$ 3,716
Condensed Balance Sheet Statements, Captions [Line Items]
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssets	us-gaap:OtherAssets	us-gaap:OtherAssets	us-gaap:OtherAssets	us-gaap:OtherAssets
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesNoncurrent	us-gaap:OtherLiabilitiesNoncurrent	us-gaap:OtherLiabilitiesNoncurrent	us-gaap:OtherLiabilitiesNoncurrent	us-gaap:OtherLiabilitiesNoncurrent
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesCurrent	us-gaap:OtherLiabilitiesCurrent	us-gaap:OtherLiabilitiesCurrent	us-gaap:OtherLiabilitiesCurrent	us-gaap:OtherLiabilitiesCurrent
Depreciation of ROU asset	$ 250	$ 261	$ 471	$ 522
Operating lease costs	$ 351	$ 286	637	573
Cash flows from operating leases			$ 637	$ 573
Weighted-average remaining lease term - operating leases	4 years 4 months 24 days	2 years 9 months 18 days	4 years 4 months 24 days	2 years 9 months 18 days	5 years
Weighted-average discount rate - operating leases	6.50%	6.40%	6.50%	6.40%	6.00%
Corporate Office
Balance Sheet Related Disclosures [Abstract]
Future minimum lease payments	$ 6,600		$ 6,600
Other long-term liabilities
Condensed Balance Sheet Statements, Captions [Line Items]
Lease liability	3,361	$ 1,560	3,361	$ 1,560	$ 3,000
Accrued expenses and other liabilities
Condensed Balance Sheet Statements, Captions [Line Items]
Lease liability	$ 1,110	$ 1,051	$ 1,110	$ 1,051	$ 1,101

Balance Sheet Accounts - Future

Balance Sheet Accounts - Future Minimum Lease Payments (Details) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020USD ($)lease	Dec. 31, 2019USD ($)lease
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total	$ 6,242	$ 6,607
2020	980	1,345
2021	1,362	1,362
2022	1,376	1,376
2023	1,291	1,291
2024	820	820
2025	413	$ 413
Beyond	$ 0
Number of operating leases | lease	2	2
Corporate Office
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Total	$ 6,600

Intangible Assets, Net - Schedu

Intangible Assets, Net - Schedule of Intangible Assets (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, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 23,100		$ 23,100		$ 23,100
Accumulated Amortization	(8,850)		(8,850)		(7,517)
Net Book Value	14,250		14,250		$ 15,583
Amortization expense	667	$ 630	$ 1,333	$ 1,260
Ryanodex intangible
Finite-Lived Intangible Assets [Line Items]
Useful Life (In Years)			20 years		20 years
Gross Carrying Amount	15,000		$ 15,000		$ 15,000
Accumulated Amortization	(2,977)		(2,977)		(2,454)
Net Book Value	12,023		$ 12,023		$ 12,546
Developed technology
Finite-Lived Intangible Assets [Line Items]
Useful Life (In Years)			5 years		5 years
Gross Carrying Amount	8,100		$ 8,100		$ 8,100
Accumulated Amortization	(5,873)		(5,873)		(5,063)
Net Book Value	$ 2,227		$ 2,227		$ 3,037

Intangible Assets, Net - Sche_2

Intangible Assets, Net - Schedule of Future Amortization Expense (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
2020 (remainder)	$ 1,333
2021	2,622
2022	1,369
2023	1,570
2024	1,898
Thereafter	5,458
Net Book Value	$ 14,250	$ 15,583

Common Stock and Stock-Based _3

Common Stock and Stock-Based Compensation - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended		17 Months Ended	20 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Mar. 17, 2020	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payments to repurchase stock			$ 4,999,000	$ 15,000,000		$ 176,900,000
Award vesting period			4 years
Volatility (in percentage)	55.46%	50.16%	54.94%	50.45%
Expected term (in years)	6 years 29 days	6 years 29 days	6 years 10 days	5 years 11 months 23 days
Expected dividend yield	0.00%	0.00%	0.00%	0.00%
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate			2.06%
Volatility (in percentage)			47.00%
Expected term (in years)			3 years
Expected dividend yield			0.00%
March 2020 plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, authorized amount					$ 160,000,000
October 2018 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payments to repurchase stock					$ 68,000,000
Accelerated share repurchase
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock repurchased (in shares)						3,017,710

Common Stock and Stock-Based _4

Common Stock and Stock-Based Compensation - Summary of Stock Options, RSU and PSU Activity (Details) - shares	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Stock Options
Outstanding beginning balance (in shares)	3,096,161	2,556,365
Granted (in shares)	600,700	579,133
Options Exercised (in shares)	(38,951)	(7,382)
Forfeited or expired (in shares)	(78,478)	(17,622)
Outstanding ending balance (in shares)	3,579,432	3,110,494
RSUs
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding beginning balance (in shares)	251,215	54,219
Granted (in shares)	231,450	211,829
Vested (in shares)	(67,970)	(13,555)
Forfeited or expired (in shares)	(11,074)	(531)
Outstanding ending balance (in shares)	403,621	251,962
PSUs
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding beginning balance (in shares)	116,181	117,219
Granted (in shares)	0	0
Vested (in shares)	0	0
Forfeited or expired (in shares)	(2,431)	(709)
Outstanding ending balance (in shares)	113,750	116,510

Common Stock and Stock-Based _5

Common Stock and Stock-Based Compensation - Fair Value of Stock Options Granted (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest minimum rate	0.44%	1.97%	0.44%	1.97%
Risk-free interest maximum rate	0.44%	2.41%	1.65%	2.61%
Volatility (in percentage)	55.46%	50.16%	54.94%	50.45%
Expected term (in years)	6 years 29 days	6 years 29 days	6 years 10 days	5 years 11 months 23 days
Expected dividend yield	0.00%	0.00%	0.00%	0.00%

Common Stock and Stock-Based _6

Common Stock and Stock-Based Compensation - Schedule of Share-based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 6,241	$ 5,382	$ 13,713	$ 11,164
Selling, general and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	5,207	4,286	11,129	8,925
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	1,034	1,096	2,584	2,239
Stock options
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	4,153	3,967	9,146	8,395
RSUs
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	1,334	643	3,186	1,251
PSUs
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 754	$ 772	$ 1,381	$ 1,518

Commitments (Details)

Commitments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Operating lease obligations
Total	$ 6,242		$ 6,242		$ 6,607
2020	980		980		1,345
2021	1,362		1,362		1,362
2022	1,376		1,376		1,376
2023	1,291		1,291		1,291
2024	820		820		820
2025	413		413		$ 413
Beyond	0		0
Credit facility
Total	37,000		37,000
2020	3,000		3,000
2021	8,000		8,000
2022	26,000		26,000
2023	0		0
2024	0		0
2025	0		0
Beyond	0		0
Purchase obligations
Purchase Obligation, Total	20,286		20,286
2020	20,286		20,286
2021	0		0
2022	0		0
2023	0		0
2024	0		0
2025	0		0
Beyond	0		0
Total obligations
Total obligations	63,528		63,528
2020	24,266		24,266
2021	9,362		9,362
2022	27,376		27,376
2023	1,291		1,291
2024	820		820
2025	413		413
Beyond	0		0
Operating lease, expense	$ 351	$ 287	$ 637	$ 573

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	Jun. 30, 2020	Nov. 08, 2019	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Current portion of long-term debt	$ 7,000,000			$ 5,000,000
Unamortized deferred debt issuance cost	1,100,000
Second amended and restated credit agreement | Minimum
Debt Instrument [Line Items]
Line of credit facility, commitment fee (in percentage)		0.35%
Second amended and restated credit agreement | Maximum
Debt Instrument [Line Items]
Line of credit facility, commitment fee (in percentage)		0.45%
Second amended and restated credit agreement | London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Variable interest rate spread (in percentage)		2.25%
Second amended and restated credit agreement | London Interbank Offered Rate (LIBOR) | Maximum
Debt Instrument [Line Items]
Variable interest rate spread (in percentage)		3.00%
Second amended and restated credit agreement | New York Federal Reserve Bank (NYFRB)
Debt Instrument [Line Items]
Variable interest rate spread (in percentage)		0.50%
Second amended and restated credit agreement | Adjusted London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Variable interest rate spread (in percentage)		1.00%
Second amended and restated credit agreement | Prime Rate | Minimum
Debt Instrument [Line Items]
Variable interest rate spread (in percentage)		1.25%
Second amended and restated credit agreement | Prime Rate | Maximum
Debt Instrument [Line Items]
Variable interest rate spread (in percentage)		2.00%
Line of credit | Second amended and restated credit agreement
Debt Instrument [Line Items]
Draw on line of credit		$ 40,000,000
Line of credit | Amendment Credit Agreement
Debt Instrument [Line Items]
Draw on line of credit	$ 40,000,000
Revolving credit facility | Second amended and restated credit agreement
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 110,000,000
Revolving credit facility | Amendment Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 110,000,000

Debt - Schedule of Debt Maturit

Debt - Schedule of Debt Maturities (Details) $ in Thousands	Jun. 30, 2020USD ($)
Debt Disclosure [Abstract]
Unamortized deferred debt issuance cost	$ 1,100
2020 (remainder)	3,000
2021	8,000
2022	26,000
Total	$ 37,000

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)jurisdiction	Jun. 30, 2019USD ($)
Income Tax Disclosure [Abstract]
Income tax provision	$ (5,629,000)	$ (2,480,000)	$ (5,492,000)	$ (5,484,000)
Effective tax rate (in percentage)	105.00%	27.00%	232.00%	26.00%
Number of tax jurisdictions currently auditing the company | jurisdiction			3
Unrecognized tax benefits	$ 0		$ 0

Collaboration with Tyme (Detail

Collaboration with Tyme (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	Jan. 07, 2020	Jun. 30, 2020	Jun. 30, 2020	Jun. 30, 2019
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Term	3 years
Fair value gain (loss)			$ (4,200)	$ 0
Collaborative Arrangement | Tyme
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Total value	$ 40,000
Upfront payment	$ 20,000
Number of shares receivable (in shares)	10
Shares receivable (in USD per share)	$ 2
Second milestone payment due	$ 20,000
Second milestone payment in cash payment due	10,000
Second milestone payment in investment due	$ 10,000
Second milestone payment, premium on investment prevailing market price (in percentage)	15.00%
Co-promotion agreement, percentage of promotional sales effort responsible for (in percentage)	25.00%
Co-promotion agreement, percentage of net revenue receivable (in percentage)	15.00%
Co-promotion agreement, percentage of net revenue receivable due to collaborator (in percentage)	85.00%
Co-promotion agreement, right to repurchase, amount	$ 200,000
Value of shares received	17,500
Upfront collaboration payment	$ 2,500
Percentage of shares received of collaborator (in percentage)	9.00%
Fair value gain (loss)		$ 2,300	$ (4,200)