Progenics Pharmaceuticals (PGNX) 10-Q 4 May 17 2017 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 01, 2017
Document Information [Line Items]
Entity Registrant Name	Progenics Pharmaceuticals Inc
Entity Central Index Key	835,887
Trading Symbol	pgnx
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		70,225,199
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
ASSETS
Cash and cash equivalents	$ 126,306	$ 138,909
Accounts receivable, net	2,097	4,864
Other current assets	3,676	4,328
Total current assets	132,079	148,101
Property and equipment, net	4,702	4,760
Intangible assets, net	30,528	30,581
Goodwill	13,074	13,074
Other assets	2,471	2,470
Total assets	182,854	198,986
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	971	567
Accrued expenses	12,705	15,764
Other current liabilities	677	26
Total current liabilities	14,353	16,357
Long-term debt, net	48,850	49,453
Contingent consideration liability	16,100	14,200
Deferred tax liability	13,010	13,010
Other liabilities	1,286	1,204
Total liabilities	93,599	94,224
Commitments and Contingencies
Stockholders’ equity:
Preferred stock, $0.001 par value Authorized - 20,000 shares; issued and outstanding - none	0	0
Common stock, $0.0013 par value Authorized - 160,000 shares; issued - 70,425 shares in 2017 and 70,390 shares in 2016	92	92
Additional paid-in capital	598,904	598,069
Treasury stock at cost, 200 shares of common stock	(2,741)	(2,741)
Accumulated other comprehensive loss	(67)	(85)
Accumulated deficit	(506,933)	(490,573)
Total stockholders’ equity	89,255	104,762
Total liabilities and stockholders’ equity	$ 182,854	$ 198,986

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares shares in Thousands	Mar. 31, 2017	Dec. 31, 2016
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	20,000	20,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par vaule (in dollars per share)	$ 0.0013	$ 0.0013
Common stock, shares authorized (in shares)	160,000	160,000
Common stock, shares issued (in shares)	70,425	70,390
Treasury stock, shares (in shares)	200	200

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenue:
Royalty income	$ 2,119	$ 2,189
License revenue	215	242
Other revenue	13	19
Total revenue	2,347	2,450
Operating expenses:
Research and development	10,005	9,149
General and administrative	5,695	5,817
Change in contingent consideration liability	1,900	200
Total operating expenses	17,600	15,166
Operating loss	(15,253)	(12,716)
Other (expense) income:
Interest (expense) income, net	(1,107)	43
Total other (expense) income	(1,107)	43
Net loss	(16,360)	(12,673)
Net loss attributable to noncontrolling interests		(18)
Net loss attributable to Progenics	$ (16,360)	$ (12,655)
Net loss per share attributable to Progenics - basic and diluted (in dollars per share)	$ (0.23)	$ (0.18)
Weighted-average shares - basic and diluted (in shares)	70,196	69,946

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net loss	$ (16,360)	$ (12,673)
Other comprehensive loss:
Foreign currency translation adjustments	18	(69)
Comprehensive loss	(16,342)	(12,742)
Comprehensive loss attributable to noncontrolling interests		(21)
Comprehensive loss attributable to Progenics	$ (16,342)	$ (12,721)

Condensed Consolidated Stateme6

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - 3 months ended Mar. 31, 2017 - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Treasury Stock [Member]	Noncontrolling Interest [Member]	Total
Balance (in shares) at Dec. 31, 2016	70,390				(200)
Balance at Dec. 31, 2016	$ 92	$ 598,069	$ (490,573)	$ (85)	$ (2,741)	$ 104,762	$ 104,762
Net loss			(16,360)			(16,360)	(16,360)
Foreign currency translation adjustments				18		18	$ 18
Stock-based compensation expense		603				603
Exercise of stock options (in shares)	35						35
Exercise of stock options		232				232
Balance (in shares) at Mar. 31, 2017	70,425				(200)
Balance at Mar. 31, 2017	$ 92	$ 598,904	$ (506,933)	$ (67)	$ (2,741)	$ 89,255	$ 89,255

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities:
Net loss	$ (16,360)	$ (12,673)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	256	751
Stock-based compensation expense	603	576
Gain on sale of fixed assets	(15)	(112)
Paid in-kind interest	(13)	0
Non-cash interest expense	61	0
Change in fair value of contingent consideration liability	1,900	200
Changes in assets and liabilities:
Accounts receivable	2,767	1,204
Other current assets	638	448
Other assets	(1)
Accounts payable	402	1,156
Accrued expenses	(3,066)	513
Other current liabilities	0	(59)
Other liabilities	81	29
Net cash used in operating activities	(12,747)	(7,967)
Cash flows from investing activities:
Purchases of property and equipment	(145)	(607)
Proceeds from sale of fixed assets	32	113
Net cash used in investing activities	(113)	(494)
Cash flows from financing activities:
Proceeds from exercise of stock options	232
Net cash provided by financing activities	232
Effect of currency rate changes on cash and cash equivalents	25	33
Net decrease in cash and cash equivalents	(12,603)	(8,428)
Cash and cash equivalents at beginning of period	138,909	74,103
Cash and cash equivalents at end of period	$ 126,306	$ 65,675

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Business Description and Accounting Policies [Text Block]	Note 1. Business Progenics Pharmaceuticals, Inc. and its subsidiaries (“the Company,” “Progenics,” “we,” or “us”) develop innovative medicines and other technologies to target and treat cancer. Our pipeline includes: 1) ® 1095), 2) (1404 TM 3) In February 2011, first ® September 2014, July 2016, may Our current principal sources of revenue from operations are royalty, development and commercial milestones, and sublicense revenue-sharing payments from Valeant relating to RELISTOR. Royalty and further milestone payments from RELISTOR depend on success in development and commercialization, which is dependent on many factors, such as Valeant’s efforts, decisions by the FDA and other regulatory bodies, competition from drugs for the same or similar indications, and the outcome of clinical and other testing of RELISTOR. We commenced principal operations in 1988, 1997, Liquidity At March 31, 2017, $126.3 $12.6 $138.9 December 31, 2016. one 10 may may Basis of Presentation Our interim condensed consolidated financial statements have been prepared in accordance with applicable presentation requirements, and accordingly, do not include all information and disclosures necessary for a presentation of our financial position, results of operations, and cash flows in conformity with accounting principles generally accepted in the U.S. ("GAAP"). In the opinion of management, these financial statements reflect all adjustments, consisting primarily of normal recurring accruals necessary for a fair statement of results for the periods presented. The results of operations for interim periods are not necessarily indicative of the results for the full year. Our interim condensed consolidated financial statements should be read in conjunction with the financial statements and notes thereto contained in our Annual Report on Form 10 December 31, 2016. Principles of Consolidation The condensed consolidated financial statements include the accounts of Progenics as well as its wholly-owned subsidiaries. All material intercompany transactions and balances have been eliminated in consolidation. In December 2015, December 8, 2016, 100% $368 Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results may Foreign Currency Translation Each of our international subsidiaries generally considers their respective local currency to be their functional currency. Assets and liabilities of these international subsidiaries are translated into U.S. dollars at quarter-end exchange rates and revenues and expenses are translated at average exchange rates during the quarter and year-to-date period. Foreign currency translation adjustments for the reported periods are included in accumulated other comprehensive loss (“AOCL”) in our condensed consolidated statements of comprehensive loss, and the cumulative effect is included in the stockholders' equity section of our condensed consolidated balance sheets. Realized gains and losses denominated in foreign currencies are recorded in operating expenses in our condensed consolidated statements of operations and were not material to our consolidated results of operations for the three March 31, 2017 2016. Property and Equipment Property and equipment is recorded at historical cost, net of accumulated depreciation and amortization of $1.0 $0.8 March 31, 2017 December 31, 2016, March 31, December 31, 2017 2016 Machinery and equipment $ 2,224 $ 1,493 Leasehold improvements 1,716 1,640 Computer equipment 701 695 Furniture and fixtures 878 877 Construction in progress 221 893 Property and equipment, gross 5,740 5,598 Less - accumulated depreciation (1,038 ) (838 ) Property and equipment, net $ 4,702 $ 4,760

Note 2 - New Accounting Pronoun

Note 2 - New Accounting Pronouncemets	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	Note 2. Recently Adopted In March 2016, 2016 09, Compensation – Stock Compensation (Topic 718) 2016 09"). January 1, 2017. three March 31, 2017, Not Yet Adopted In January 2017, 2017 04 2017 04”), Intangibles - Goodwill and Other (Topic 350): 2 2 2017 04 December 15, 2019. January 1, 2017. In November 2016, 2016 18 2016 18”), Statement of Cash Flows (Topic 230) 2016 18 2016 18 December 15, 2017, In August 2016, 2016 15 2016 15”), Statement of Cash Flows (Topic 230): eight (8) (1) (2) zero (3) (4) (5) (6) (7) (8) 2016 15 2016 15 December 15, 2017 In February 2016, 2016 02, Leases (Topic 842) 2016 02") . 2016 02 2016 02 December 15, 2018. In January 2016, 2016 01, Recognition and Measurement of Financial Assets and Financial Liabilities 2016 01"). 2016 01 2016 01 December 15, 2017. In May 2014, 2014 09, Revenue from Contracts with Customers (Topic 606) 2014 09"). (1) (2) (3) (4) (5) 2014 09 December 15, 2017. December 15, 2016 2016, first 2018,

Note 3 - Net Loss Per Share

Note 3 - Net Loss Per Share	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Earnings Per Share [Text Block]	Note 3. Our basic net loss per share attributable to Progenics amounts have been computed by dividing net loss attributable to Progenics by the weighted-average number of common shares outstanding during the period. For the three March 31, 2017 2016, The calculations of net loss per share, basic and diluted, are as follows (amounts in thousands, except per share data): Net loss Weighted-average attributable shares to Progenics outstanding Per share (Numerator) (Denominator) amount Three months ended March 31, 2017 Basic and diluted $ (16,360 ) 70,196 $ (0.23 ) Three months ended March 31, 2016 Basic and diluted $ (12,655 ) 69,946 $ (0.18 ) The following table summarizes anti-dilutive common shares or common shares where performance conditions have not been met, that were excluded from the calculation of diluted net loss per share (in thousands): Three Months Ended March 31, 2017 2016 Stock options 1,150 5,411 Contingent consideration liability 1,706 4,267 Total securities excluded 2,856 9,678

Note 4 - Fair Value Measurement

Note 4 - Fair Value Measurements	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Fair Value Disclosures [Text Block]	Note 4. To estimate the fair values of our financial assets and liabilities, we use valuation approaches within a hierarchy that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability based on market data obtained from sources independent of us. Unobservable inputs are inputs that reflect our assumptions about the inputs that market participants would use in pricing the asset or liability and are developed based on the best information available in the circumstances. The fair value hierarchy is divided into three ● Level 1 ● Level 2 1 ● Level 3 The availability of observable inputs can vary among the various types of financial assets and liabilities. To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. In certain cases, the inputs used for measuring fair value may We believe the carrying amounts of our cash equivalents, accounts receivable, other current assets, other assets, accounts payable and accrued expenses approximated their fair values as of March 31, 2017 December 31, 2016. We record the contingent consideration liability resulting from our acquisition of Molecular Insight Pharmaceuticals, Inc. ("MIP") at fair value in accordance with Accounting Standards Codification ("ASC") 820 820, Fair Value Measurement The following tables summarize each major class of our financial assets and liabilities measured at fair value on a recurring basis as of the dates indicated, classified by valuation hierarchy (in thousands): Fair Value Measurements at March 31, 2017 Quoted Prices in Significant Other Significant Active Markets for Observable Unobservable Balance at Identical Assets Inputs Inputs March 31, 2017 (Level 1) (Level 2) (Level 3) Assets: Money market funds $ 122,351 $ 122,351 $ - $ - Total assets $ 122,351 $ 122,351 $ - $ - Liabilities: Contingent consideration liability $ 16,100 $ - $ - $ 16,100 Total liabilities $ 16,100 $ - $ - $ 16,100 PROGENICS PHARMACEUTICALS, INC NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (U naudited) - Continued Fair Value Measurements at December 31, 2016 Quoted Prices in Significant Other Significant Active Markets for Observable Unobservable Balance at Identical Assets Inputs Inputs December 31, 2016 (Level 1) (Level 2) (Level 3) Assets: Money market funds $ 137,340 $ 137,340 $ - $ - Total assets $ 137,340 $ 137,340 $ - $ - Liabilities: Contingent consideration liability $ 14,200 $ - $ - $ 14,200 Total liabilities $ 14,200 $ - $ - $ 14,200 The estimated fair value of the contingent consideration liability of $16.1 March 31, 2017, 3 (one Significant changes in any of the probabilities of success would result in a significantly higher or lower fair value measurement, respectively. Significant changes in the probabilities as to the periods in which milestones will be achieved would result in a significantly lower or higher fair value measurement, respectively. We record the contingent consideration liability at fair value with changes in estimated fair values recorded in change in contingent consideration liability in our condensed consolidated statements of operations. The following table summarizes quantitative information and assumptions pertaining to the fair value measurement of the Level 3 March 31, 2017 December 31, 2016 $1.9 three March 31, 2017 Fair Value at March 31, Range 2017 Valuation Technique Unobservable Input (Weighted-Average) Contingent Consideration Liability: AZEDRA commercialization $ 5,100 Probability adjusted discounted Probability of success 72% cash flow model Period of expected milestone achievement 2018 Discount rate 10% 1404 commercialization 4,800 Probability adjusted discounted Probability of success 59% cash flow model Period of expected milestone achievement 2019 Discount rate 10% 1095 commercialization 400 Probability adjusted discounted Probability of success 16% cash flow model Period of expected milestone achievement 2024 Discount rate 10% Net sales targets 5,800 Monte-Carlo simulation Probability of success 16% - 72% Discount rate 10% Total $ 16,100 PROGENICS PHARMACEUTICALS, INC NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (U naudited) - Continued Fair Value at December 31, Range 2016 Valuation Technique Unobservable Input (Weighted-Average) Contingent Consideration Liability: AZEDRA commercialization $ 3,800 Probability adjusted discounted Probability of success 54% cash flow model Period of expected milestone achievement 2018 Discount rate 10% 1404 commercialization 4,700 Probability adjusted discounted Probability of success 59% cash flow model Period of expected milestone achievement 2019 Discount rate 10% 1095 commercialization 400 Probability adjusted discounted Probability of success 16% cash flow model Period of expected milestone achievement 2024 Discount rate 10% Net sales targets 5,300 Monte-Carlo simulation Probability of success 16% - 59% Discount rate 10% Total $ 14,200 For those financial instruments with significant Level 3 Liability - Contingent Consideration Fair Value Measurements Using Significant Unobservable Inputs (Level 3) For the Three Months Ended March 31, 2017 2016 Balance at beginning of period $ 14,200 $ 18,800 Fair value change included in net loss 1,900 200 Balance at end of period $ 16,100 $ 19,000 Changes in unrealized gains or losses for the period included in earnings (or changes in net assets) for liabilities held at the end of the reporting period $ 1,900 $ 200

Note 5 - Accounts Receivable

Note 5 - Accounts Receivable	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	Note 5. Our accounts receivable represent amounts due to us from collaborators, royalties, and sales of research reagents, and consisted of the following at March 31, 2017 December 31, 2016 March 31, December 31, 2017 2016 Royalties $ 1,847 $ 2,407 Collaborators 202 2,000 Other 48 457 Accounts receivable, net $ 2,097 $ 4,864

Note 6 - Goodwill, In-process R

Note 6 - Goodwill, In-process Research and Development, and Other Intangible Assets	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Intangible Assets Disclosure [Text Block]	Note 6. The fair values of in-process research and development (“IPR&D”) and other identified intangible assets acquired in business combinations are capitalized. We utilize the “income method,” which applies a probability weighting that considers the risk of development and commercialization to the estimated future net cash flows that are derived from projected sales revenues and estimated costs or “replacement costs”, whichever is greater. These projections are based on factors such as relevant market size, patent protection, historical pricing of similar products and expected industry trends. The estimated future net cash flows are then discounted to the present value using an appropriate discount rate. This analysis is performed for each IPR&D project and other identified intangible assets, independently. IPR&D assets are treated as indefinite-lived intangible assets until completion or abandonment of the projects, at which time the assets are amortized over the remaining useful life or written off, as appropriate. Other identified intangible assets, which include the technology asset acquired as part of the EXINI business combination, are amortized over the relevant estimated useful life. The IPR&D assets are tested for impairment at least annually or when a triggering event occurs that could indicate a potential impairment and any impairment loss is recognized in our condensed consolidated statements of operations. Goodwill represents excess consideration in a business combination over the fair value of identifiable net assets acquired. Goodwill is not amortized, but is subject to impairment testing at least annually or when a triggering event occurs that could indicate a potential impairment. We determine whether goodwill may one No March 31, 2017 2016. The following tables summarize the activity related to our goodwill and intangible assets (in thousands): Other Intangible Goodwill IPR&D Assets Balance at January 1, 2017 $ 13,074 $ 28,700 $ 1,881 Amortization expense - - (53 ) Balance at March 31, 2017 $ 13,074 $ 28,700 $ 1,828 Goodwill IPR&D Other Intangible Assets Balance at January 1, 2016 $ 13,074 $ 28,700 $ 2,093 Amortization expense - - (53 ) Balance at March 31, 2016 $ 13,074 $ 28,700 $ 2,040

Note 7 - Accrued Expenses

Note 7 - Accrued Expenses	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	Note 7 . Accrued Expenses The carrying value of our accrued expenses approximates fair value as it represents amounts that will be satisfied within one March 31, 2017 December 31, 2016 March 31, December 31, 2017 2016 Loss contingency for litigation $ 4,000 $ 4,000 Accrued legal and professional fees 1,003 1,123 Accrued consulting and clinical trial costs 5,487 6,933 Accrued payroll and related costs 1,015 1,957 Other 1,200 1,751 Accrued expenses $ 12,705 $ 15,764

Note 8 - Commitments and Contin

Note 8 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 8. We are or may In each of the matters described in this filing or in Note 10. 10 December 31, 2016, one Former Employee Litiga tion On January 4, 2017, 2010 $4.0 March 31, 2017. $1.7 March 31, 2017. Abbreviated New Drug Application Litigations On October 7, 2015 ® On October 28, 2015, second In October 2016, In accordance with the Drug Price Competition and Patent Term Restoration Act (commonly referred to as the Hatch-Waxman Act), Progenics and Valeant timely commenced litigation against each of these ANDA filers in order to obtain an automatic stay of FDA approval of the ANDA until the earlier of (i) 30 In addition to the above described ANDA notifications, in October 2015 three Each of the above-described proceedings is in its early stages and Progenics and Valeant continue to cooperate closely to vigorously defend and enforce RELISTOR intellectual property rights. Pursuant to the RELISTOR license agreement between Progenics and Valeant, Valeant has the first

Note 9 - Non-recourse Long-term

Note 9 - Non-recourse Long-term Debt, Net	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Debt Disclosure [Text Block]	9. In November 2016, $50.0 $50.0 twelve 9.5%. Under the terms of the loan agreement, payments of interest and principal, if any, under the loan will be made on the last day of each calendar quarter out of RELISTOR royalty payments received since the immediately-preceding payment date. On each payment date prior to March 31, 2018, March 31, 2018, 50% September 30, 2021, June 30, 2025. January 1, 2018, In connection with the Royalty-Backed Loan, we paid HCRP a lender fee of $0.5 $0.9 March 31, 2017, three March 31, 2017, $1.3 March 31, 2017, $1.2 The assumptions used in determining the expected repayment term of the debt and amortization period of the issuance costs require that we make estimates that could impact the short- and long-term classification of these costs, as well as the period over which these costs will be amortized. As of March 31, 2017, $49.5 $0.8 $1.3 As of March 31, 2017,

Note 10 - Stockholders' Equity

Note 10 - Stockholders' Equity	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	Note 10. Common Stock and Preferred Stock We are authorized to issue 160.0 $0.0013, 20.0 $0.001. Shelf Registration During the first 2017, $250.0 Accumulated Other Comprehensive Loss The following table summarizes the components of AOCL at March 31, 2017 Foreign Currency Translation AOCL Balance at January 1, 2017 $ (85 ) $ (85 ) Foreign currency translation adjustment 18 18 Balance at March 31, 2017 $ (67 ) $ (67 ) We did not three March 31, 2017 2016.

Note 11 - Stock-based Compensat

Note 11 - Stock-based Compensation	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Note 11. Equity Incentive Plans We adopted the following stockholder-approved equity incentive plans: ● The 1996 "1996 5,000,000 1996 2006. 1996 ● The 2005 “2005 11,450,000 2005 March 25, 2024. The stock option plans provide that options may 100% may ten three five Stock Options The following table summarizes stock options activity for the three March 31, 2017 Weighted Weighted Average Number Average Remaining of Shares Exercise Price Contractual Life Outstanding at January 1, 2017 4,887 $ 7.57 5.81 Granted 941 $ 11.30 Exercised (35 ) $ 6.62 Cancelled (46 ) $ 6.36 Expired (28 ) $ 26.66 Outstanding at March 31, 2017 5,719 $ 8.11 6.29 Exercisable at March 31, 2017 3,889 $ 7.96 4.86 Vested and expected to vest at March 31, 2017 5,285 $ 8.04 6.03 The weighted average fair value of options granted during the three March 31, 2017 2016 $7.60 $3.07 The total intrinsic value (the excess of the market price over the exercise price) was approximately $15.1 $11.6 $14.5 March 31, 2017. three March 31, 2017 $167 No three March 31, 2016. We do not expect to realize any tax benefits from our stock option activity or the recognition of stock-based compensation expense, because we currently have net operating losses and have a full valuation allowance against our deferred tax assets. Stock-Based Compensation Expense We account for stock-based awards issued to employees in accordance with the provisions of ASC 718 718, Compensation – Stock Compensation three five 718 505 50 50 505, Equity 718, We estimated the fair value of the stock options granted on the date of grant using a Black-Scholes valuation model that used the weighted average assumptions noted in the following table. The risk-free interest rate assumption we use is based upon United States Treasury interest rates appropriate for the expected life of the awards. The expected life (estimated period of time that we expect employees, directors, and consultants to hold their stock options) was estimated based on historical rates for three zero Three Months Ended March 31, 2017 2016 Risk-free interest rate 2.22 % 1.55 % Expected life (in years) 6.73 6.71 Expected volatility 72 % 75 % Expected dividend yield -- -- Stock-based compensation expense for the three March 31, 2017 2016 Three Months Ended March 31, 2017 2016 Research and development expenses $ 235 $ 275 General and administrative expenses 368 301 Total stock-based compensation expense $ 603 $ 576 At March 31, 2017, $7.5 2.78

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Liquidity [Policy Text Block]	Liquidity At March 31, 2017, $126.3 $12.6 $138.9 December 31, 2016. one 10 may may
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation Our interim condensed consolidated financial statements have been prepared in accordance with applicable presentation requirements, and accordingly, do not include all information and disclosures necessary for a presentation of our financial position, results of operations, and cash flows in conformity with accounting principles generally accepted in the U.S. ("GAAP"). In the opinion of management, these financial statements reflect all adjustments, consisting primarily of normal recurring accruals necessary for a fair statement of results for the periods presented. The results of operations for interim periods are not necessarily indicative of the results for the full year. Our interim condensed consolidated financial statements should be read in conjunction with the financial statements and notes thereto contained in our Annual Report on Form 10 December 31, 2016.
Consolidation, Policy [Policy Text Block]	Principles of Consolidation The condensed consolidated financial statements include the accounts of Progenics as well as its wholly-owned subsidiaries. All material intercompany transactions and balances have been eliminated in consolidation. In December 2015, December 8, 2016, 100% $368
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results may
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign Currency Translation Each of our international subsidiaries generally considers their respective local currency to be their functional currency. Assets and liabilities of these international subsidiaries are translated into U.S. dollars at quarter-end exchange rates and revenues and expenses are translated at average exchange rates during the quarter and year-to-date period. Foreign currency translation adjustments for the reported periods are included in accumulated other comprehensive loss (“AOCL”) in our condensed consolidated statements of comprehensive loss, and the cumulative effect is included in the stockholders' equity section of our condensed consolidated balance sheets. Realized gains and losses denominated in foreign currencies are recorded in operating expenses in our condensed consolidated statements of operations and were not material to our consolidated results of operations for the three March 31, 2017 2016.
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment Property and equipment is recorded at historical cost, net of accumulated depreciation and amortization of $1.0 $0.8 March 31, 2017 December 31, 2016, March 31, December 31, 2017 2016 Machinery and equipment $ 2,224 $ 1,493 Leasehold improvements 1,716 1,640 Computer equipment 701 695 Furniture and fixtures 878 877 Construction in progress 221 893 Property and equipment, gross 5,740 5,598 Less - accumulated depreciation (1,038 ) (838 ) Property and equipment, net $ 4,702 $ 4,760

Note 1 - Summary of Significa20

Note 1 - Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Property, Plant and Equipment [Table Text Block]	March 31, December 31, 2017 2016 Machinery and equipment $ 2,224 $ 1,493 Leasehold improvements 1,716 1,640 Computer equipment 701 695 Furniture and fixtures 878 877 Construction in progress 221 893 Property and equipment, gross 5,740 5,598 Less - accumulated depreciation (1,038 ) (838 ) Property and equipment, net $ 4,702 $ 4,760

Note 3 - Net Loss Per Share (Ta

Note 3 - Net Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Net loss Weighted-average attributable shares to Progenics outstanding Per share (Numerator) (Denominator) amount Three months ended March 31, 2017 Basic and diluted $ (16,360 ) 70,196 $ (0.23 ) Three months ended March 31, 2016 Basic and diluted $ (12,655 ) 69,946 $ (0.18 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Three Months Ended March 31, 2017 2016 Stock options 1,150 5,411 Contingent consideration liability 1,706 4,267 Total securities excluded 2,856 9,678

Note 4 - Fair Value Measureme22

Note 4 - Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	Fair Value Measurements at March 31, 2017 Quoted Prices in Significant Other Significant Active Markets for Observable Unobservable Balance at Identical Assets Inputs Inputs March 31, 2017 (Level 1) (Level 2) (Level 3) Assets: Money market funds $ 122,351 $ 122,351 $ - $ - Total assets $ 122,351 $ 122,351 $ - $ - Liabilities: Contingent consideration liability $ 16,100 $ - $ - $ 16,100 Total liabilities $ 16,100 $ - $ - $ 16,100 Fair Value Measurements at December 31, 2016 Quoted Prices in Significant Other Significant Active Markets for Observable Unobservable Balance at Identical Assets Inputs Inputs December 31, 2016 (Level 1) (Level 2) (Level 3) Assets: Money market funds $ 137,340 $ 137,340 $ - $ - Total assets $ 137,340 $ 137,340 $ - $ - Liabilities: Contingent consideration liability $ 14,200 $ - $ - $ 14,200 Total liabilities $ 14,200 $ - $ - $ 14,200
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Table Text Block]	Fair Value at March 31, Range 2017 Valuation Technique Unobservable Input (Weighted-Average) Contingent Consideration Liability: AZEDRA commercialization $ 5,100 Probability adjusted discounted Probability of success 72% cash flow model Period of expected milestone achievement 2018 Discount rate 10% 1404 commercialization 4,800 Probability adjusted discounted Probability of success 59% cash flow model Period of expected milestone achievement 2019 Discount rate 10% 1095 commercialization 400 Probability adjusted discounted Probability of success 16% cash flow model Period of expected milestone achievement 2024 Discount rate 10% Net sales targets 5,800 Monte-Carlo simulation Probability of success 16% - 72% Discount rate 10% Total $ 16,100 Fair Value at December 31, Range 2016 Valuation Technique Unobservable Input (Weighted-Average) Contingent Consideration Liability: AZEDRA commercialization $ 3,800 Probability adjusted discounted Probability of success 54% cash flow model Period of expected milestone achievement 2018 Discount rate 10% 1404 commercialization 4,700 Probability adjusted discounted Probability of success 59% cash flow model Period of expected milestone achievement 2019 Discount rate 10% 1095 commercialization 400 Probability adjusted discounted Probability of success 16% cash flow model Period of expected milestone achievement 2024 Discount rate 10% Net sales targets 5,300 Monte-Carlo simulation Probability of success 16% - 59% Discount rate 10% Total $ 14,200
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Liability - Contingent Consideration Fair Value Measurements Using Significant Unobservable Inputs (Level 3) For the Three Months Ended March 31, 2017 2016 Balance at beginning of period $ 14,200 $ 18,800 Fair value change included in net loss 1,900 200 Balance at end of period $ 16,100 $ 19,000 Changes in unrealized gains or losses for the period included in earnings (or changes in net assets) for liabilities held at the end of the reporting period $ 1,900 $ 200

Note 5 - Accounts Receivable (T

Note 5 - Accounts Receivable (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	March 31, December 31, 2017 2016 Royalties $ 1,847 $ 2,407 Collaborators 202 2,000 Other 48 457 Accounts receivable, net $ 2,097 $ 4,864

Note 6 - Goodwill, In-process24

Note 6 - Goodwill, In-process Research and Development, and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Intangible Assets and Goodwill [Table Text Block]	Other Intangible Goodwill IPR&D Assets Balance at January 1, 2017 $ 13,074 $ 28,700 $ 1,881 Amortization expense - - (53 ) Balance at March 31, 2017 $ 13,074 $ 28,700 $ 1,828 Goodwill IPR&D Other Intangible Assets Balance at January 1, 2016 $ 13,074 $ 28,700 $ 2,093 Amortization expense - - (53 ) Balance at March 31, 2016 $ 13,074 $ 28,700 $ 2,040

Note 7 - Accrued Expenses (Tabl

Note 7 - Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	March 31, December 31, 2017 2016 Loss contingency for litigation $ 4,000 $ 4,000 Accrued legal and professional fees 1,003 1,123 Accrued consulting and clinical trial costs 5,487 6,933 Accrued payroll and related costs 1,015 1,957 Other 1,200 1,751 Accrued expenses $ 12,705 $ 15,764

Note 10 - Stockholders' Equity

Note 10 - Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Foreign Currency Translation AOCL Balance at January 1, 2017 $ (85 ) $ (85 ) Foreign currency translation adjustment 18 18 Balance at March 31, 2017 $ (67 ) $ (67 )

Note 11 - Stock-based Compens27

Note 11 - Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Share-based Compensation, Stock Options, Activity [Table Text Block]	Weighted Weighted Average Number Average Remaining of Shares Exercise Price Contractual Life Outstanding at January 1, 2017 4,887 $ 7.57 5.81 Granted 941 $ 11.30 Exercised (35 ) $ 6.62 Cancelled (46 ) $ 6.36 Expired (28 ) $ 26.66 Outstanding at March 31, 2017 5,719 $ 8.11 6.29 Exercisable at March 31, 2017 3,889 $ 7.96 4.86 Vested and expected to vest at March 31, 2017 5,285 $ 8.04 6.03
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Three Months Ended March 31, 2017 2016 Risk-free interest rate 2.22 % 1.55 % Expected life (in years) 6.73 6.71 Expected volatility 72 % 75 % Expected dividend yield -- --
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Three Months Ended March 31, 2017 2016 Research and development expenses $ 235 $ 275 General and administrative expenses 368 301 Total stock-based compensation expense $ 603 $ 576

Note 1 - Summary of Significa28

Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	Dec. 08, 2016	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Dec. 31, 2015
Cash and Cash Equivalents, at Carrying Value		$ 126,306	$ 65,675	$ 138,909	$ 74,103
Cash and Cash Equivalents, Period Increase (Decrease)		$ (12,603)	$ (8,428)
Number of Years Cash is Sufficient to Fund Operations		1 year
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment		$ 1,038		$ 838
EXINI Diagnostics AB [Member]
Payments to Noncontrolling Interests	$ 368

Note 1 - Summary of Significa29

Note 1 - Summary of Significant Accounting Policies - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment (gross)	$ 5,740	$ 5,598
Less - accumulated depreciation	(1,038)	(838)
Property and equipment, net	4,702	4,760
Machinery and Equipment [Member]
Property, Plant and Equipment (gross)	2,224	1,493
Leasehold Improvements [Member]
Property, Plant and Equipment (gross)	1,716	1,640
Computer Equipment [Member]
Property, Plant and Equipment (gross)	701	695
Furniture and Fixtures [Member]
Property, Plant and Equipment (gross)	878	877
Construction in Progress [Member]
Property, Plant and Equipment (gross)	$ 221	$ 893

Note 3 - Net Loss Per Share - E

Note 3 - Net Loss Per Share - Earnings Per Share Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Basic and diluted, Net loss attributable to Progenics	$ (16,360)	$ (12,655)
Weighted-average shares - basic and diluted (in shares)	70,196	69,946
Net loss per share attributable to Progenics - basic and diluted (in dollars per share)	$ (0.23)	$ (0.18)

Note 3 - Net Loss Per Share - N

Note 3 - Net Loss Per Share - Net Loss Per Share (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Total securities excluded (in shares)	2,856	9,678
Stock Options [Member]
Total securities excluded (in shares)	1,150	5,411
Contingent Consideration Liability [Member]
Total securities excluded (in shares)	1,706	4,267

Note 4 - Fair Value Measureme32

Note 4 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Business Combination, Contingent Consideration, Liability, Noncurrent	$ 16,100		$ 14,200
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	$ 1,900	$ 200

Note 4 - Fair Value Measureme33

Note 4 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Money market funds	$ 122,351	$ 137,340
Total assets	122,351	137,340
Business Combination, Contingent Consideration, Liability, Noncurrent	16,100	14,200
Total liabilities	16,100	14,200
Fair Value, Inputs, Level 1 [Member]
Money market funds	122,351	137,340
Total assets	122,351	137,340
Business Combination, Contingent Consideration, Liability, Noncurrent
Total liabilities
Fair Value, Inputs, Level 2 [Member]
Money market funds
Total assets
Business Combination, Contingent Consideration, Liability, Noncurrent
Total liabilities
Fair Value, Inputs, Level 3 [Member]
Money market funds
Total assets
Business Combination, Contingent Consideration, Liability, Noncurrent	16,100	14,200
Total liabilities	$ 16,100	$ 14,200

Note 4 - Fair Value Measureme34

Note 4 - Fair Value Measurements - Quantitative Information for Fair Value Measurement of Level 3 (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Fair value	$ 16.1	$ 14.2
AZEDRA commercialization [Member]
Fair value	$ 5.1	$ 3.8
Valuation technique	Probability adjusted discounted cash flow model	Probability adjusted discounted cash flow model
Probability of success	72.00%	54.00%
Discount rate	10.00%	10.00%
MIP - 1404 Commercialization [Member]
Fair value	$ 4.8	$ 4.7
Valuation technique	Probability adjusted discounted cash flow model	Probability adjusted discounted cash flow model
Probability of success	59.00%	59.00%
Discount rate	10.00%	10.00%
MIP-1095 Commercialization [Member]
Fair value	$ 0.4	$ 0.4
Valuation technique	Probability adjusted discounted cash flow model	Probability adjusted discounted cash flow model
Probability of success	16.00%	16.00%
Discount rate	10.00%	10.00%
Net sales targets [Member]
Fair value	$ 5.8	$ 5.3
Valuation technique	Monte-Carlo simulation	Monte-Carlo simulation
Discount rate	10.00%	10.00%
Net sales targets [Member] | Minimum [Member]
Probability of success	16.00%	16.00%
Net sales targets [Member] | Maximum [Member]
Probability of success	72.00%	59.00%

Note 4 - Fair Value Measureme35

Note 4 - Fair Value Measurements - Summary of Activities in Financial Instruments With Level 3 Inputs (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Balance	$ 14.2	$ 18.8
Fair value change included in net loss	1.9	0.2
Balance	16.1	19
Changes in unrealized gains or losses for the period included in earnings (or changes in net assets) for liabilities held at the end of the reporting period	$ 1.9	$ 0.2

Note 5 - Accounts Receivable -

Note 5 - Accounts Receivable - Accounts Receivable (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Accounts receivable, net	$ 2,097	$ 4,864
Royalties [Member]
Accounts receivable, Current	1,847	2,407
Collaborators [Member]
Accounts receivable, Current	202	2,000
Other [Member]
Accounts receivable, Current	$ 48	$ 457

Note 6 - Goodwill, In-process37

Note 6 - Goodwill, In-process Research and Development, and Other Intangible Assets (Details Textual) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)
Number of Reporting Units	1	1
Goodwill, Impairment Loss	$ 0	$ 0

Note 6 - Goodwill, In-Process38

Note 6 - Goodwill, In-Process Research and Development, and Other Intangible Assets - Goodwill, In-Process Research and Development, and Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Balance, Goodwill	$ 13,074	$ 13,074
Balance, IPR&D	28,700	28,700
Balance, Finite-lived Intangible Assets	1,881	2,093
Amortization expense, Finite-lived Intangible Assets	(53)	(53)
Balance, Goodwill	13,074	13,074
Balance, IPR&D	28,700	28,700
Balance, Finite-lived Intangible Assets	$ 1,828	$ 2,040

Note 7 - Accrued Expenses - Sch

Note 7 - Accrued Expenses - Schedule of Accounts Payable and Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Loss contingency for litigation	$ 4,000	$ 4,000
Accrued legal and professional fees	1,003	1,123
Accrued consulting and clinical trial costs	5,487	6,933
Accrued payroll and related costs	1,015	1,957
Other	1,200	1,751
Accrued expenses	$ 12,705	$ 15,764

Note 8 - Commitments and Cont40

Note 8 - Commitments and Contingencies (Details Textual) - USD ($) $ in Millions	Jan. 04, 2017	Mar. 31, 2017
Loss Contingency, Damages Awarded, Value		$ 1.7
Settled Litigation [Member] | Anti-Retaliation Termination [Member]
Litigation Settlement, Amount Awarded to Other Party	$ 4

Note 9 - Non-recourse Long-te41

Note 9 - Non-recourse Long-term Debt, Net (Details Textual) - Royalty-backed Loans [Member] - USD ($) $ in Millions	Mar. 31, 2018	Nov. 04, 2016	Mar. 31, 2017
Proceeds from Issuance of Long-term Debt		$ 50
Debt Agreement, Remaining Bowrrowing Capacity		$ 50
Debt Instrument, Interest Rate, Stated Percentage		9.50%
Interest Expense, Debt			$ 1.3
Interest Paid			1.2
Long-term Debt			49.5
Paid-in-Kind Interest Expense Included in Debt Balance			0.8
Debt Instrument, Unamortized Discount			$ 1.3
Lender Fee [Member]
Debt Issuance Costs, Gross		$ 0.5
Expenses Paid on Behalf of HCRP and expenses Incurred Directly by Company [Member]
Debt Issuance Costs, Gross		$ 0.9
Scenario, Forecast [Member]
Percentage of RELISTOR Royalty Payments Used to Repay Principal of Loan	50.00%

Note 10 - Stockholders' Equit42

Note 10 - Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Common Stock, Shares Authorized	160,000		160,000
Common Stock, Par or Stated Value Per Share	$ 0.0013		$ 0.0013
Preferred Stock, Shares Authorized	20,000		20,000
Preferred Stock, Par or Stated Value Per Share	$ 0.001		$ 0.001
Replacement Shelf Registration	$ 250,000
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	$ 0	$ 0

Note 10 - Stockholders' Equit43

Note 10 - Stockholders' Equity - Components of Accumulated Other Comprehensive Loss (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)
Balance	$ (85)
Balance	(67)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance	(85)
Foreign currency translation adjustment	18
Balance	(67)
AOCI Attributable to Parent [Member]
Balance	(85)
Foreign currency translation adjustment	18
Balance	$ (67)

Note 11 - Stock-based Compens44

Note 11 - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 7.60	$ 3.07
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	$ 15,100
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	11,600
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding	14,500
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	167
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options	$ 7,500
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 284 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	35,000	0
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Employee Stock Option [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Employee Stock Option [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	5 years
The 1996 Amended Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	5,000,000
The 2005 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	11,450,000

Note 11 - Stock-based Compens45

Note 11 - Stock-based Compensation - Summary of Option Activity Under the Plans (Details) - $ / shares	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Outstanding, shares (in shares)	4,887,000
Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 7.57
Outstanding, Weighted Average Remaining Contractual Life (Year)	6 years 105 days		5 years 295 days
Granted, shares (in shares)	941,000
Granted, Weighted Average Exercise Price (in dollars per share)	$ 11.30
Exercised, shares (in shares)	(35,000)	0
Exercised, Weighted Average Exercise Price (in dollars per share)	$ 6.62
Cancelled, shares (in shares)	(46,000)
Cancelled, Weighted Average Exercise Price (in dollars per share)	$ 6.36
Expired, shares (in shares)	(28,000)
Expired, Weighted Average Exercise Price (in dollars per share)	$ 26.66
Outstanding, shares (in shares)	5,719,000		4,887,000
Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 8.11		$ 7.57
Exercisable, shares (in shares)	3,889,000
Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 7.96
Exercisable, Weighted Average Remaining Contractual Life (Year)	4 years 313 days
Vested and expected to vest, shares (in shares)	5,285,000
Vested and expected to vest, Weighted Average Exercise Price (in dollars per share)	$ 8.04
Vested and expected to vest, Weighted Average Remaining Contractual Life (Year)	6 years 10 days

Note 11 - Stock-based Compens46

Note 11 - Stock-based Compensation - Assumptions Used in Computing the Fair Value of Option Grants (Details)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Risk-free interest rate	2.22%	1.55%
Expected life (in years) (Year)	6 years 266 days	6 years 259 days
Expected volatility	72.00%	75.00%
Expected dividend yield	0.00%	0.00%

Note 11 - Stock-based Compens47

Note 11 - Stock-based Compensation - Allocation of Recognized Period Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Total compensation expense recognized	$ 603	$ 576
Research and Development Expense [Member]
Total compensation expense recognized	235	275
General and Administrative Expense [Member]
Total compensation expense recognized	$ 368	$ 301