Progenics Pharmaceuticals (PGNX) 10-Q 9 Aug 17 2017 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Aug. 04, 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)		70,269,848
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
ASSETS
Cash and cash equivalents	$ 113,959	$ 138,909
Accounts receivable, net	2,715	4,864
Other current assets	3,269	4,328
Total current assets	119,943	148,101
Property and equipment, net	4,563	4,760
Intangible assets, net	30,475	30,581
Goodwill	13,074	13,074
Other assets	2,472	2,470
Total assets	170,527	198,986
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	1,132	567
Accrued expenses	14,106	15,790
Current portion of debt, net	1,241
Total current liabilities	16,479	16,357
Long-term debt, net	48,322	49,453
Contingent consideration liability	16,800	14,200
Deferred tax liability	13,010	13,010
Other liabilities	1,366	1,204
Total liabilities	95,977	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 - 70,461 shares in 2017 and 70,390 shares in 2016	92	92
Additional paid-in capital	600,822	598,069
Treasury stock at cost, 200 shares of common stock	(2,741)	(2,741)
Accumulated other comprehensive loss	(54)	(85)
Accumulated deficit	(523,569)	(490,573)
Total stockholders’ equity	74,550	104,762
Total liabilities and stockholders’ equity	$ 170,527	$ 198,986

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares shares in Thousands	Jun. 30, 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)	70,461	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		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenue:
Royalty income	$ 2,601	$ 2,380	$ 4,720	$ 4,569
License revenue	147	6,073	362	6,315
Other revenue	17	23	30	42
Total revenue	2,765	8,476	5,112	10,926
Operating expenses:
Research and development	11,292	7,988	21,297	17,137
General and administrative	6,333	5,599	12,028	11,416
Change in contingent consideration liability	700	600	2,600	800
Total operating expenses	18,325	14,187	35,925	29,353
Operating loss	(15,560)	(5,711)	(30,813)	(18,427)
Other (expense) income:
Interest (expense) income, net	(1,076)	54	(2,183)	97
Total other (expense) income	(1,076)	54	(2,183)	97
Net loss	(16,636)	(5,657)	(32,996)	(18,330)
Net loss attributable to noncontrolling interests		(19)		(37)
Net loss attributable to Progenics	$ (16,636)	$ (5,638)	$ (32,996)	$ (18,293)
Net loss per share attributable to Progenics - basic and diluted (in dollars per share)	$ (0.24)	$ (0.08)	$ (0.47)	$ (0.26)
Weighted-average shares - basic and diluted (in shares)	70,202	69,947	70,214	69,947

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Net loss	$ (16,636)	$ (5,657)	$ (32,996)	$ (18,330)
Other comprehensive loss:
Foreign currency translation adjustments	13	29	31	(40)
Comprehensive loss	(16,623)	(5,628)	(32,965)	(18,370)
Comprehensive loss attributable to noncontrolling interests		(18)		(39)
Comprehensive loss attributable to Progenics	$ (16,623)	$ (5,610)	$ (32,965)	$ (18,331)

Condensed Consolidated Stateme6

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - 6 months ended Jun. 30, 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]	Total
Balance at Dec. 31, 2016	$ 92	$ 598,069	$ (490,573)	$ (85)	$ (2,741)	$ 104,762
Balance (in shares) at Dec. 31, 2016	70,390				(200)
Net loss			(32,996)			(32,996)
Foreign currency translation adjustments				31		31
Return of purchase premium for noncontrolling interest		153				153
Stock-based compensation expense		2,189				$ 2,189
Exercise of stock options (in shares)	71					71
Exercise of stock options		411				$ 411
Balance (in shares) at Jun. 30, 2017	70,461				(200)
Balance at Jun. 30, 2017	$ 92	$ 600,822	$ (523,569)	$ (54)	$ (2,741)	$ 74,550

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities:
Net loss	$ (32,996)	$ (18,330)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	2,189	1,536
Depreciation and amortization	544	1,498
Gain on sale of fixed assets	10	(283)
Non-cash interest expense	109	0
Change in fair value of contingent consideration liability	2,600	800
Changes in assets and liabilities:
Accounts receivable	2,148	(20)
Other current assets	1,026	314
Other assets	(2)
Accounts payable	557	733
Accrued expenses	(1,718)	2,845
Other current liabilities		126
Other liabilities	162	(724)
Net cash used in operating activities	(25,371)	(11,505)
Cash flows from investing activities:
Purchases of property and equipment	(240)	(2,735)
Proceeds from sale of fixed assets	37	314
Net cash used in investing activities	(203)	(2,421)
Cash flows from financing activities:
Return of estimated interest payment for noncontrolling interest	153
Proceeds from exercise of stock options	411	11
Net cash provided by financing activities	564	11
Effect of currency rate changes on cash and cash equivalents	60	(42)
Net decrease in cash and cash equivalents	(24,950)	(13,957)
Cash and cash equivalents at beginning of period	138,909	74,103
Cash and cash equivalents at end of period	$ 113,959	$ 60,146

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 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 We licensed our first ® July 2016, We have in the past considered opportunities for strategic collaborations, out-licenses, and other arrangements with biopharmaceutical companies involving proprietary research, development and clinical programs, and we continue to do so. We 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 June 30, 2017, $114.0 $24.9 $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 not 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. not 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% December 2016, $368 $153 May 2017. 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 three six June 30, 2017 2016. Property and Equipment Property and equipment is recorded at historical cost, net of accumulated depreciation and amortization of $1.2 $0.8 June 30, 2017 December 31, 2016, June 30, December 31, 2017 2016 Machinery and equipment $ 2,451 $ 1,493 Leasehold improvements 1,717 1,640 Computer equipment 698 695 Furniture and fixtures 879 877 Construction in progress 63 893 Property and equipment, gross 5,808 5,598 Less - accumulated depreciation (1,245 ) (838 ) Property and equipment, net $ 4,563 $ 4,760

Note 2 - New Accounting Pronoun

Note 2 - New Accounting Pronouncements	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	Note 2. Recently Adopted In March 2016, No. 2016 09, Compensation – Stock Compensation (Topic 718 2016 09” January 1, 2017. six June 30, 2017, not Not In January 2017, No. 2017 01 2017 01” Business Combinations (Topic 805 2017 01 December 15, 2017, not In January 2017, No. 2017 04 2017 04” Intangibles - Goodwill and Other (Topic 350 2 2 2017 04 December 15, 2019. January 1, 2017. not In November 2016, No. 2016 18 2016 18” Statement of Cash Flows (Topic 230 2016 18 2016 18 December 15, 2017, not In August 2016, No. 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 not In February 2016, No. 2016 02, Leases (Topic 842 2016 02” . 2016 02 2016 02 December 15, 2018, In January 2016, No. 2016 01, Recognition and Measurement of Financial Assets and Financial Liabilities 2016 01” 2016 01 2016 01 December 15, 2017. not not In May 2014, No. 2014 09, Revenue from Contracts with Customers (Topic 606 2014 09” 1 2 3 4 5 2014 09 December 15, 2017. 2016, first 2018,

Note 3 - Net Loss Per Share

Note 3 - Net Loss Per Share	6 Months Ended
	Jun. 30, 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 six June 30, 2017 2016, not 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 June 30, 2017 Basic and diluted $ (16,636 ) 70,202 $ (0.24 ) Six months ended June 30, 2017 Basic and diluted $ (32,996 ) 70,214 $ (0.47 ) Three months ended June 30, 2016 Basic and diluted $ (5,638 ) 69,947 $ (0.08 ) Six months ended June 30, 2016 Basic and diluted $ (18,293 ) 69,947 $ (0.26 ) The following table summarizes anti-dilutive common shares or common shares where performance conditions have not Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Stock options 2,971 5,796 1,614 5,604 Contingent consideration liability 2,474 4,059 2,474 4,219 Total securities excluded 5,445 9,855 4,088 9,823

Note 4 - Fair Value Measurement

Note 4 - Fair Value Measurements	6 Months Ended
	Jun. 30, 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 June 30, 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 June 30, 2017 Quoted Prices in Significant Other Significant Active Markets for Observable Unobservable Balance at Identical Assets Inputs Inputs June 30, 2017 (Level 1) (Level 2) (Level 3) Assets: Money market funds $ 108,859 $ 108,859 $ - $ - Total assets $ 108,859 $ 108,859 $ - $ - Liabilities: Contingent consideration liability $ 16,800 $ - $ - $ 16,800 Total liabilities $ 16,800 $ - $ - $ 16,800 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 contingent consideration liability of $16.8 June 30, 2017 Milestone payments due upon first Program Consideration Form of Payment at Progenics' Option AZEDRA $ 8,000 Cash or Progenics common stock 1404 10,000 Cash or Progenics common stock 1095 5,000 Cash or Progenics common stock $ 23,000 Net sales milestone payments due upon first Calendar Year Net Sales Level Consideration Form of Payment at Progenics' Option $30 million $ 5,000 Cash or Progenics common stock $60 million 5,000 Cash or Progenics common stock $100 million 10,000 Cash or Progenics common stock $250 million 20,000 Cash or Progenics common stock $500 million 30,000 Cash or Progenics common stock $ 70,000 We consider this liability a Level 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 June 30, 2017 December 31, 2016 ( $2.6 six June 30, 2017 Fair Value at June 30, 2017 Valuation Technique Unobservable Input Assumption Contingent Consideration Liability: AZEDRA commercialization $ 5,300 Probability adjusted discounted Probability of success 72% cash flow model Period of expected milestone achievement 2018 Discount rate 10% 1404 commercialization 4,900 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 6,200 Monte-Carlo simulation Probability of success 16% - 72% Discount rate 10% Total $ 16,800 Fair Value at December 31, 2016 Valuation Technique Unobservable Input Assumption 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) Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Balance at beginning of period $ 16,100 $ 19,000 $ 14,200 $ 18,800 Fair value change included in net loss 700 600 2,600 800 Balance at end of period $ 16,800 $ 19,600 $ 16,800 $ 19,600 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 $ 700 $ 600 $ 2,600 $ 800

Note 5 - Accounts Receivable

Note 5 - Accounts Receivable	6 Months Ended
	Jun. 30, 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 June 30, 2017 December 31, 2016 ( June 30, December 31, 2017 2016 Royalties $ 2,601 $ 2,407 Collaborators 35 2,000 Other 79 457 Accounts receivable, net $ 2,715 $ 4,864

Note 6 - Goodwill, In-process R

Note 6 - Goodwill, In-process Research and Development, and Other Intangible Assets	6 Months Ended
	Jun. 30, 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 may one No June 30, 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 - - (106 ) Balance at June 30, 2017 $ 13,074 $ 28,700 $ 1,775 Other Intangible Goodwill IPR&D Assets Balance at January 1, 2016 $ 13,074 $ 28,700 $ 2,093 Amortization expense - - (106 ) Balance at June 30, 2016 $ 13,074 $ 28,700 $ 1,987

Note 7 - Accrued Expenses

Note 7 - Accrued Expenses	6 Months Ended
	Jun. 30, 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 June 30, 2017 December 31, 2016 ( June 30, December 31, 2017 2016 Accrued consulting and clinical trial costs $ 6,404 $ 6,933 Loss contingency for litigation 3,850 4,000 Accrued payroll and related costs 1,452 1,957 Accrued legal and professional fees 875 1,123 Other 1,525 1,777 Accrued expenses $ 14,106 $ 15,790

Note 8 - Commitments and Contin

Note 8 - Commitments and Contingencies	6 Months Ended
	Jun. 30, 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, not not none not not one Former Employee Litiga tion On January 4, 2017, 2010 $4.0 three June 30, 2017, $0.2 $3.8 June 30, 2017. $1.5 June 30, 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), we and Valeant timely commenced litigation against each of the above-listed ANDA filers in order to obtain an automatic stay of FDA approval of the ANDA until the earlier of (i) 30 not In each of the above-described proceedings we and Valeant continue to cooperate closely to vigorously defend and enforce RELISTOR intellectual property rights. Pursuant to the RELISTOR license agreement between us and Valeant, Valeant has the first In addition to the above-described ANDA notifications, in October 2015, three

Note 9 - Non-recourse Long-term

Note 9 - Non-recourse Long-term Debt, Net	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Debt Disclosure [Text Block]	9. In November 2016, $50.0 $50.0 twelve no 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 June 30, 2017, three six June 30, 2017, $1.2 $2.5 June 30, 2017, second $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 June 30, 2017, $49.6 $0.8 $1.2 As of June 30, 2017, no

Note 10 - Stockholders' Equity

Note 10 - Stockholders' Equity	6 Months Ended
	Jun. 30, 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 June 30, 2017 ( Foreign Currency Translation AOCL Balance at January 1, 2017 $ (85 ) $ (85 ) Foreign currency translation adjustment 31 31 Balance at June 30, 2017 $ (54 ) $ (54 ) We did not six June 30, 2017 2016.

Note 11 - Stock-based Compensat

Note 11 - Stock-based Compensation	6 Months Ended
	Jun. 30, 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 six June 30, 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 1,117 $ 10.63 Exercised (71 ) $ 5.79 Cancelled (131 ) $ 8.81 Expired (30 ) $ 26.42 Outstanding at June 30, 2017 5,772 $ 8.06 6.11 Exercisable at June 30, 2017 4,017 $ 7.92 4.81 Vested and expected to vest at June 30, 2017 5,392 $ 8.00 5.89 The weighted-average fair value of options granted during the three six June 30, 2017 $4.8 $7.2 three six June 30, 2016 $3.33 $3.12 The total intrinsic value (the excess of the market price over the exercise price) was approximately $4.9 $3.7 $4.7 June 30, 2017. three six June 30, 2017 $64 $231 three six June 30, 2016 $ 1 We do not 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 not not Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 Risk-free interest rate 1.95 % 1.51 % 2.17 % 1.54 % Expected life (in years) 7.04 7.20 6.78 6.79 Expected volatility 72 % 72 % 72 % 74 % Expected dividend yield -- -- -- -- Stock-based compensation expense for the three six June 30, 2017 2016 Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 Research and development expenses $ 326 $ 174 $ 561 $ 449 General and administrative expenses 1,260 786 1,628 1,087 Total stock-based compensation expense $ 1,586 $ 960 $ 2,189 $ 1,536 At June 30, 2017, $6.5 2.57

Note 12 - Subsequent Event

Note 12 - Subsequent Event	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Subsequent Events [Text Block]	Note 12. In July 2017 , we received notification of a Paragraph IV certification from Par Sterile Products, LLC (“Par”) with respect to Orange Book listed patents for RELISTOR subcutaneous injection. The certification accompanied the filing by Par of an ANDA challenging such patents for RELISTOR subcutaneous injection and seeking to obtain approval to market a generic version of RELISTOR subcutaneous injection before some or all of these patents expire. We and Valeant are assessing the notification of this ANDA filing by Par and intend to enforce RELISTOR intellectual property rights.

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Liquidity [Policy Text Block]	Liquidity At June 30, 2017, $114.0 $24.9 $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 not 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. not
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% December 2016, $368 $153 May 2017.
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 three six June 30, 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 $1.2 $0.8 June 30, 2017 December 31, 2016, June 30, December 31, 2017 2016 Machinery and equipment $ 2,451 $ 1,493 Leasehold improvements 1,717 1,640 Computer equipment 698 695 Furniture and fixtures 879 877 Construction in progress 63 893 Property and equipment, gross 5,808 5,598 Less - accumulated depreciation (1,245 ) (838 ) Property and equipment, net $ 4,563 $ 4,760

Note 1 - Summary of Significa21

Note 1 - Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Property, Plant and Equipment [Table Text Block]	June 30, December 31, 2017 2016 Machinery and equipment $ 2,451 $ 1,493 Leasehold improvements 1,717 1,640 Computer equipment 698 695 Furniture and fixtures 879 877 Construction in progress 63 893 Property and equipment, gross 5,808 5,598 Less - accumulated depreciation (1,245 ) (838 ) Property and equipment, net $ 4,563 $ 4,760

Note 3 - Net Loss Per Share (Ta

Note 3 - Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2017 Basic and diluted $ (16,636 ) 70,202 $ (0.24 ) Six months ended June 30, 2017 Basic and diluted $ (32,996 ) 70,214 $ (0.47 ) Three months ended June 30, 2016 Basic and diluted $ (5,638 ) 69,947 $ (0.08 ) Six months ended June 30, 2016 Basic and diluted $ (18,293 ) 69,947 $ (0.26 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Stock options 2,971 5,796 1,614 5,604 Contingent consideration liability 2,474 4,059 2,474 4,219 Total securities excluded 5,445 9,855 4,088 9,823

Note 4 - Fair Value Measureme23

Note 4 - Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	Fair Value Measurements at June 30, 2017 Quoted Prices in Significant Other Significant Active Markets for Observable Unobservable Balance at Identical Assets Inputs Inputs June 30, 2017 (Level 1) (Level 2) (Level 3) Assets: Money market funds $ 108,859 $ 108,859 $ - $ - Total assets $ 108,859 $ 108,859 $ - $ - Liabilities: Contingent consideration liability $ 16,800 $ - $ - $ 16,800 Total liabilities $ 16,800 $ - $ - $ 16,800 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
Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block]	Program Consideration Form of Payment at Progenics' Option AZEDRA $ 8,000 Cash or Progenics common stock 1404 10,000 Cash or Progenics common stock 1095 5,000 Cash or Progenics common stock $ 23,000 Calendar Year Net Sales Level Consideration Form of Payment at Progenics' Option $30 million $ 5,000 Cash or Progenics common stock $60 million 5,000 Cash or Progenics common stock $100 million 10,000 Cash or Progenics common stock $250 million 20,000 Cash or Progenics common stock $500 million 30,000 Cash or Progenics common stock $ 70,000
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Table Text Block]	Fair Value at June 30, 2017 Valuation Technique Unobservable Input Assumption Contingent Consideration Liability: AZEDRA commercialization $ 5,300 Probability adjusted discounted Probability of success 72% cash flow model Period of expected milestone achievement 2018 Discount rate 10% 1404 commercialization 4,900 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 6,200 Monte-Carlo simulation Probability of success 16% - 72% Discount rate 10% Total $ 16,800 Fair Value at December 31, 2016 Valuation Technique Unobservable Input Assumption 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) Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Balance at beginning of period $ 16,100 $ 19,000 $ 14,200 $ 18,800 Fair value change included in net loss 700 600 2,600 800 Balance at end of period $ 16,800 $ 19,600 $ 16,800 $ 19,600 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 $ 700 $ 600 $ 2,600 $ 800

Note 5 - Accounts Receivable (T

Note 5 - Accounts Receivable (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	June 30, December 31, 2017 2016 Royalties $ 2,601 $ 2,407 Collaborators 35 2,000 Other 79 457 Accounts receivable, net $ 2,715 $ 4,864

Note 6 - Goodwill, In-process25

Note 6 - Goodwill, In-process Research and Development, and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 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 - - (106 ) Balance at June 30, 2017 $ 13,074 $ 28,700 $ 1,775 Other Intangible Goodwill IPR&D Assets Balance at January 1, 2016 $ 13,074 $ 28,700 $ 2,093 Amortization expense - - (106 ) Balance at June 30, 2016 $ 13,074 $ 28,700 $ 1,987

Note 7 - Accrued Expenses (Tabl

Note 7 - Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	June 30, December 31, 2017 2016 Accrued consulting and clinical trial costs $ 6,404 $ 6,933 Loss contingency for litigation 3,850 4,000 Accrued payroll and related costs 1,452 1,957 Accrued legal and professional fees 875 1,123 Other 1,525 1,777 Accrued expenses $ 14,106 $ 15,790

Note 10 - Stockholders' Equity

Note 10 - Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 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 31 31 Balance at June 30, 2017 $ (54 ) $ (54 )

Note 11 - Stock-based Compens28

Note 11 - Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 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 1,117 $ 10.63 Exercised (71 ) $ 5.79 Cancelled (131 ) $ 8.81 Expired (30 ) $ 26.42 Outstanding at June 30, 2017 5,772 $ 8.06 6.11 Exercisable at June 30, 2017 4,017 $ 7.92 4.81 Vested and expected to vest at June 30, 2017 5,392 $ 8.00 5.89
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 Risk-free interest rate 1.95 % 1.51 % 2.17 % 1.54 % Expected life (in years) 7.04 7.20 6.78 6.79 Expected volatility 72 % 72 % 72 % 74 % Expected dividend yield -- -- -- --
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 Research and development expenses $ 326 $ 174 $ 561 $ 449 General and administrative expenses 1,260 786 1,628 1,087 Total stock-based compensation expense $ 1,586 $ 960 $ 2,189 $ 1,536

Note 1 - Summary of Significa29

Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	Dec. 08, 2016	May 31, 2017	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016	Dec. 31, 2015
Cash and Cash Equivalents, Period Increase (Decrease)			$ (24,950)	$ (13,957)
Cash and Cash Equivalents, at Carrying Value			$ 113,959	60,146	$ 138,909	$ 74,103
Number of Years Cash is Sufficient to Fund Operations			1 year
Return of Estimated Interest Payment for Noncontrolling Interest		$ 153	$ 153
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment			$ 1,245		$ 838
EXINI Diagnostics AB [Member]
Payments to Noncontrolling Interests	$ 368

Note 1 - Summary of Significa30

Note 1 - Summary of Significant Accounting Policies - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Property, Plant and Equipment (gross)	$ 5,808	$ 5,598
Less - accumulated depreciation	(1,245)	(838)
Property and equipment, net	4,563	4,760
Machinery and Equipment [Member]
Property, Plant and Equipment (gross)	2,451	1,493
Leasehold Improvements [Member]
Property, Plant and Equipment (gross)	1,717	1,640
Computer Equipment [Member]
Property, Plant and Equipment (gross)	698	695
Furniture and Fixtures [Member]
Property, Plant and Equipment (gross)	879	877
Construction in Progress [Member]
Property, Plant and Equipment (gross)	$ 63	$ 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				6 Months Ended
	Jun. 30, 2017	Mar. 31, 2017	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2017	Jun. 30, 2016
Basic and diluted, Net loss attributable to Progenics	$ (16,636)	$ (16,636)	$ (5,638)	$ (5,638)	$ (32,996)	$ (18,293)
Weighted-average shares - basic and diluted (in shares)	70,202	70,202	69,947	69,947	70,214	69,947
Net loss per share attributable to Progenics - basic and diluted (in dollars per share)	$ (0.24)	$ (0.24)	$ (0.08)	$ (0.08)	$ (0.47)	$ (0.26)

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		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Total securities excluded (in shares)	5,445	9,855	4,088	9,823
Stock Options [Member]
Total securities excluded (in shares)	2,971	5,796	1,614	5,604
Contingent Consideration Liability [Member]
Total securities excluded (in shares)	2,474	4,059	2,474	4,219

Note 4 - Fair Value Measureme33

Note 4 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Business Combination, Contingent Consideration, Liability, Noncurrent			$ 16,800		$ 14,200
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	$ 700	$ 600	$ 2,600	$ 800

Note 4 - Fair Value Measureme34

Note 4 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Total liabilities	$ 16,800	$ 14,200
Money market funds	108,859	137,340
Total assets	108,859	137,340
Contingent consideration liability	16,800	14,200
Fair Value, Inputs, Level 1 [Member]
Total liabilities
Money market funds	108,859	137,340
Total assets	108,859	137,340
Contingent consideration liability
Fair Value, Inputs, Level 2 [Member]
Total liabilities
Money market funds
Total assets
Contingent consideration liability
Fair Value, Inputs, Level 3 [Member]
Total liabilities	16,800	14,200
Money market funds
Total assets
Contingent consideration liability	$ 16,800	$ 14,200

Note 4 - Fair Value Measureme35

Note 4 - Fair Value Measurements - Contingent Consideration Liabilities (Details) - Molecular Insight Pharmaceuticals, Inc. [Member] $ in Millions	Jun. 30, 2017USD ($)
Milestone Payment upon Achievement of Net Sales Level 1 [Member]
Contingent Consideration	$ 5
Milestone Payment upon Achievement of Net Sales Level 2 [Member]
Contingent Consideration	5
Milestone Payment upon Achievement of Net Sales Level 3 [Member]
Contingent Consideration	10
Milestone Payment upon Achievement of Net Sales Level 4 [Member]
Contingent Consideration	20
Milestone Payment upon Achievement of Net Sales Level 5 [Member]
Contingent Consideration	30
Milestone Payment upon Achievement of All Levels of Net Sales [Member]
Contingent Consideration	70
Milestone Payment upon First Commercial Sale [Member]
Contingent Consideration	23
Milestone Payment upon First Commercial Sale [Member] | AZEDRA Program [Member]
Contingent Consideration	8
Milestone Payment upon First Commercial Sale [Member] | The 1404 Program [Member]
Contingent Consideration	10
Milestone Payment upon First Commercial Sale [Member] | The 1095 Program[Member]
Contingent Consideration	$ 5

Note 4 - Fair Value Measureme36

Note 4 - Fair Value Measurements - Contingent Consideration Liabilities (Details) (Parentheticals) - Molecular Insight Pharmaceuticals, Inc. [Member] $ in Millions	Jun. 30, 2017USD ($)
Milestone Payment upon Achievement of Net Sales Level 1 [Member]
Net Sales Level	$ 30
Milestone Payment upon Achievement of Net Sales Level 2 [Member]
Net Sales Level	60
Milestone Payment upon Achievement of Net Sales Level 3 [Member]
Net Sales Level	100
Milestone Payment upon Achievement of Net Sales Level 4 [Member]
Net Sales Level	250
Milestone Payment upon Achievement of Net Sales Level 5 [Member]
Net Sales Level	$ 500

Note 4 - Fair Value Measureme37

Note 4 - Fair Value Measurements - Quantitative Information for Fair Value Measurement of Level 3 (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Fair value	$ 16.8	$ 14.2
AZEDRA commercialization [Member]
Fair value	$ 5.3	$ 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	$ 4.9	$ 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	$ 6.2	$ 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 Measureme38

Note 4 - Fair Value Measurements - Summary of Activities in Financial Instruments With Level 3 Inputs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Balance	$ 16.1	$ 19	$ 14.2	$ 18.8
Fair value change included in net loss	0.7	0.6	2.6	0.8
Balance	16.8	19.6	16.8	19.6
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	$ 0.7	$ 0.6	$ 2.6	$ 0.8

Note 5 - Accounts Receivable -

Note 5 - Accounts Receivable - Accounts Receivable (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Accounts receivable, net	$ 2,715	$ 4,864
Royalties [Member]
Accounts receivable, Current	2,601	2,407
Collaborators [Member]
Accounts receivable, Current	35	2,000
Other [Member]
Accounts receivable, Current	$ 79	$ 457

Note 6 - Goodwill, In-process40

Note 6 - Goodwill, In-process Research and Development, and Other Intangible Assets (Details Textual) $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)
Number of Reporting Units	1	1
Goodwill, Impairment Loss	$ 0	$ 0

Note 6 - Goodwill, In-Process41

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	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Balance, Finite-lived Intangible Assets	$ 1,775	$ 1,987
Balance, Goodwill	13,074	13,074
Balance, IPR&D	28,700	28,700
Balance, Finite-lived Intangible Assets	1,881	2,093
Balance, IPR&D	28,700	28,700
Goodwill impairment	0	0
Impairment, IP&D	0	0
Amortization expense, Finite-lived Intangible Assets	(106)	(106)
Balance, Goodwill	$ 13,074	$ 13,074

Note 7 - Accrued Expenses - Sch

Note 7 - Accrued Expenses - Schedule of Accounts Payable and Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Accrued consulting and clinical trial costs	$ 6,404	$ 6,933
Loss contingency for litigation	3,850	4,000
Accrued payroll and related costs	1,452	1,957
Accrued legal and professional fees	875	1,123
Other	1,525	1,777
Accrued expenses	$ 14,106	$ 15,790

Note 8 - Commitments and Cont43

Note 8 - Commitments and Contingencies (Details Textual) - Settled Litigation [Member] - Anti-Retaliation Termination [Member] - USD ($) $ in Millions	Jan. 04, 2017	Jun. 30, 2017
Litigation Settlement, Amount Awarded to Other Party	$ 4
Payments for Legal Settlements		$ 0.2
Accrued Expenses [Member]
Estimated Litigation Liability		3.8
Other Current Assets [Member]
Litigation Settlement, Held in Escrow		$ 1.5

Note 9 - Non-recourse Long-te44

Note 9 - Non-recourse Long-term Debt, Net (Details Textual) - Royalty-backed Loans [Member] - USD ($) $ in Millions	Mar. 31, 2018	Nov. 04, 2016	Jun. 30, 2017	Jun. 30, 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			$ 1.2	$ 2.5
Interest Paid				1.2
Long-term Debt			49.6	49.6
Paid-in-Kind Interest Expense Included in Debt Balance			0.8	0.8
Debt Instrument, Unamortized Discount			$ 1.2	$ 1.2
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' Equit45

Note 10 - Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Mar. 31, 2017	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' Equit46

Note 10 - Stockholders' Equity - Components of Accumulated Other Comprehensive Loss (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)
Balance	$ (85)
Balance	(54)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance	(85)
Foreign currency translation adjustment	31
Balance	(54)
AOCI Attributable to Parent [Member]
Balance	(85)
Foreign currency translation adjustment	31
Balance	$ (54)

Note 11 - Stock-based Compens47

Note 11 - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 4.80	$ 3.33	$ 7.20	$ 3.12
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	$ 4,900		$ 4,900
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	3,700		3,700
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding	4,700		4,700
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options	6,500		$ 6,500
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition			2 years 208 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 64	$ 1	$ 231	$ 1
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		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		11,450,000

Note 11 - Stock-based Compens48

Note 11 - Stock-based Compensation - Summary of Option Activity Under the Plans (Details) - $ / shares shares in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Outstanding, shares (in shares)	4,887
Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 7.57
Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 8.06	$ 7.57
Outstanding, Weighted Average Remaining Contractual Life (Year)	6 years 40 days	5 years 295 days
Granted, shares (in shares)	1,117
Granted, Weighted Average Exercise Price (in dollars per share)	$ 10.63
Exercised, shares (in shares)	(71)
Exercised, Weighted Average Exercise Price (in dollars per share)	$ 5.79
Cancelled, shares (in shares)	(131)
Exercisable, shares (in shares)	4,017
Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 7.92
Exercisable, Weighted Average Remaining Contractual Life (Year)	4 years 295 days
Vested and expected to vest, shares (in shares)	5,392
Vested and expected to vest, Weighted Average Exercise Price (in dollars per share)	$ 8
Cancelled, Weighted Average Exercise Price (in dollars per share)	$ 8.81
Expired, shares (in shares)	(30)
Expired, Weighted Average Exercise Price (in dollars per share)	$ 26.42
Outstanding, shares (in shares)	5,772	4,887
Vested and expected to vest, Weighted Average Remaining Contractual Life (Year)	5 years 324 days

Note 11 - Stock-based Compens49

Note 11 - Stock-based Compensation - Assumptions Used in Computing the Fair Value of Option Grants (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Risk-free interest rate	1.95%	1.51%	2.17%	1.54%
Expected life (in years) (Year)	7 years 14 days	7 years 73 days	6 years 284 days	6 years 288 days
Expected volatility	72.00%	72.00%	72.00%	74.00%
Expected dividend yield	0.00%	0.00%

Note 11 - Stock-based Compens50

Note 11 - Stock-based Compensation - Allocation of Recognized Period Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Total compensation expense recognized	$ 1,586	$ 960	$ 2,189	$ 1,536
Research and Development Expense [Member]
Total compensation expense recognized	326	174	561	449
General and Administrative Expense [Member]
Total compensation expense recognized	$ 1,260	$ 786	$ 1,628	$ 1,087