BioCryst Pharmaceuticals (BCRX) 10-Q 9 Aug 18 2018 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Jul. 31, 2018
Document Information [Line Items]
Entity Registrant Name	BIOCRYST PHARMACEUTICALS INC
Entity Central Index Key	882,796
Trading Symbol	bcrx
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)		98,927,558
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Assets
Cash and cash equivalents	$ 27,104	$ 50,282
Restricted cash	7,625	3,286
Investments	53,636	64,115
Receivables from collaborations	2,342	6,117
Inventory	221
Prepaid expenses and other current assets	1,729	1,381
Deferred collaboration expense	12	210
Total current assets	92,669	125,391
Investments	33,744	41,295
Property and equipment, net	9,390	9,546
Other assets	841	2,027
Total assets	136,644	178,259
Liabilities and Stockholders’ Equity
Accounts payable	4,122	6,337
Accrued expenses	19,409	12,699
Interest payable	14,832	12,095
Deferred collaboration revenue	300	8,484
Lease financing obligation	78	75
Senior credit facility	6,530	6,464
Non-recourse notes payable	28,902	28,682
Total current liabilities	74,173	74,836
Deferred rent	107	155
Lease financing obligation	2,711	2,751
Senior credit facility	13,469	16,750
Stockholders’ equity:
Preferred stock, $0.001 par value; shares authorized — 5,000; no shares issued and outstanding
Common stock, $0.01 par value: shares authorized — 200,000; shares issued and outstanding — 98,928 in 2018 and 98,411 in 2017	989	984
Additional paid-in capital	720,587	714,869
Accumulated other comprehensive loss	(452)	(243)
Accumulated deficit	(674,940)	(631,843)
Total stockholders’ equity	46,184	83,767
Total liabilities and stockholders’ equity	$ 136,644	$ 178,259

Consolidated Balance Sheets (C3

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares shares in Thousands	Jun. 30, 2018	Dec. 31, 2017
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	5,000	5,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	200,000	200,000
Common stock, shares issued (in shares)	98,928	98,411
Common stock, shares outstanding (in shares)	98,928	98,411

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenues:
Revenues	$ 12,494	$ 3,099	$ 16,470	$ 12,536
Expenses
Research and development	21,010	15,759	39,451	32,529
General and administrative	9,492	2,834	17,101	5,892
Royalty	243	22	383	316
Total operating expenses	30,745	18,615	56,935	38,737
Loss from operations	(18,251)	(15,516)	(40,465)	(26,201)
Interest and other income	493	203	955	312
Interest expense	(2,195)	(2,094)	(4,416)	(4,194)
Gain (loss) on foreign currency derivative	1,507	521	(297)	(1,022)
Net loss	$ (18,446)	$ (16,886)	$ (44,223)	$ (31,105)
Basic and diluted net loss per common share (in dollars per share)	$ (0.19)	$ (0.21)	$ (0.45)	$ (0.40)
Weighted average shares outstanding (in shares)	98,787	80,418	98,690	77,807
Unrealized gain (loss) on available for sale investments	$ 24	$ (12)	$ (209)	$ (3)
Comprehensive loss	(18,422)	(16,898)	(44,432)	(31,108)
Royalty [Member]
Revenues:
Revenues	142	489	3,803	6,810
Collaborative and Other Research and Development [Member]
Revenues:
Revenues	$ 12,352	$ 2,610	$ 12,667	$ 5,726

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Operating activities
Net loss	$ (44,223)	$ (31,105)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	377	344
Stock-based compensation expense	4,987	4,788
Amortization of debt issuance costs	455	439
Amortization of premium/discount on investments	140	86
Change in fair value of foreign currency derivative	1,185	1,943
Changes in operating assets and liabilities:
Receivables	3,775	5,443
Inventory	(221)	(805)
Prepaid expenses and other assets	(347)	(87)
Deferred collaboration expense	140	35
Accounts payable and accrued expenses	4,447	(975)
Interest payable	2,737	2,597
Deferred revenue	(7,000)	(897)
Net cash used in operating activities	(33,548)	(18,194)
Investing activities
Acquisitions of property and equipment	(221)	(24)
Purchases of investments	(16,754)	(33,070)
Sales and maturities of investments	34,435	23,873
Net cash provided by (used in) investing activities	17,460	(9,221)
Financing activities
Sale of common stock, net		47,750
Payment of senior credit facility	(3,450)
Net proceeds from common stock issued under stock-based compensation plans	736	1,068
Increase in lease financing obligation	(37)
Net cash (used in) provided by financing activities	(2,751)	48,818
(Decrease) increase in cash, cash equivalents and restricted cash	(18,839)	21,403
Cash, cash equivalents and restricted cash at beginning of period	53,568	23,650
Cash, cash equivalents and restricted cash at end of period	$ 34,729	$ 45,053

Note 1 - Significant Accounting

Note 1 - Significant Accounting Policies	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Significant Accounting Policies [Text Block]	Note 1 Agreement and Plan of Merger On January 21, 2018, Following the BioCryst stockholders’ failure to approve the adoption of the Merger Agreement at the BioCryst special meeting of stockholders held on July 10, 2018, $6,000 July 2018, 7 The Company BioCryst is a biotechnology company that designs, optimizes and develops novel small molecule drugs that block key enzymes involved in the pathogenesis of diseases. The Company focuses on oral treatments for rare diseases in which significant unmet medical needs exist and that align with its capabilities and expertise. The Company was incorporated in Delaware in 1986 With the funds available at June 30, 2018 7, 2020. 2018 2018 2020. may 2020 1 2 3 4 5 one 6 may Basis of Presentation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, JPR Royalty Sub LLC (“Royalty Sub”) and MDCP, LLC (“MDCP”) and Nautilus Holdco, Inc. All subsidiaries were formed to facilitate financing and/or strategic transactions for the Company. In the case of Nautilus Holdco, Inc., the subsidiary was formed entirely to facilitate a merger with Idera which was terminated. Royalty Sub was formed in connection with a $30,000 March 9, 2011. 4, $23,000 September 23, 2016. 5, The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial reporting and the instructions to Form 10 not no These financial statements should be read in conjunction with the financial statements for the year ended December 31, 2017 2017 10 not December 31, 2017 10 Cash and Cash Equivalents The Company generally considers cash equivalents to be all cash held in commercial checking accounts, certificates of deposit, money market accounts or investments in debt instruments with maturities of three Restricted Cash Restricted cash as of June 30, 2018 $6,213 4 $1,412 Investments The Company invests in high credit quality investments in accordance with its investment policy, which is designed to minimize the possibility of loss. The objective of the Company’s investment policy is to ensure the safety and preservation of invested funds, as well as maintaining liquidity sufficient to meet cash flow requirements. The Company places its excess cash with high credit quality financial institutions, commercial companies, and government agencies in order to limit the amount of its credit exposure. In accordance with its policy, the Company is able to invest in marketable debt securities that may three no 18 may may not not not The Company classifies all of its investments as available-for-sale. Unrealized gains and losses on investments are recognized in comprehensive loss, unless an unrealized loss is considered to be other than temporary, in which case the unrealized loss is charged to operations. The Company periodically reviews its investments for other than temporary declines in fair value below cost basis and whenever events or changes in circumstances indicate that the carrying amount of an asset may not three 12 12 June 30, 2018, The following tables summarize the fair value of the Company’s investments by type. The estimated fair values of the Company’s fixed income investments are classified as Level 2 not not 2 June 30, 2018 Amortized Cost Accrued Interest Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Obligations of the U.S. Government and its agencies $ 47,023 $ 136 $ — $ (204 ) $ 46,955 Corporate debt securities 33,465 199 — (226 ) 33,438 Certificates of deposit 6,985 24 — (22 ) 6,987 Total investments $ 87,473 $ 359 $ — $ (452 ) $ 87,380 December 31, 2017 Amortized Cost Accrued Interest Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Obligations of the U.S. Government and its agencies $ 60,121 $ 177 $ — $ (122 ) $ 60,176 Corporate debt securities 34,021 203 — (108 ) 34,116 Certificates of deposit 11,099 32 1 (14 ) 11,118 Total investments $ 105,241 $ 412 $ 1 $ (244 ) $ 105,410 The following table summarizes the scheduled maturity for the Company’s investments at June 30, 2018 December 31, 2017. 2018 2017 Maturing in one year or less $ 53,636 $ 64,115 Maturing after one year through two years 33,744 34,257 Maturing after two years — 7,038 Total investments $ 87,380 $ 105,410 Receivables from Collaborations Receivables from collaborations are recorded for amounts due to the Company related to reimbursable research and development costs from the U.S. Department of Health and Human Services, royalty receivables from Shionogi, Green Cross Corporation (“Green Cross”), Mundipharma International Holdings Limited (“Mundipharma”) and Seqirus UK Limited (“SUL”), and product sales to SUL. These receivables are evaluated to determine if any reserve or allowance should be established at each reporting date. At June 30, 2018 December 31, 2017, June 30, 2018 Billed Unbilled Total U.S. Department of Health and Human Services $ 87 $ 1,090 $ 1,177 Shionogi & Co. Ltd. 27 — 27 Green Cross Corporation 51 27 78 Mundipharma International Holdings Limited 43 — 43 Seqirus UK Limited 1,017 — 1,017 Total receivables $ 1,225 $ 1,117 $ 2,342 December 31, 2017 Billed Unbilled Total U.S. Department of Health and Human Services $ 42 $ 2,020 $ 2,062 Shionogi & Co. Ltd. 1,600 — 1,600 Green Cross Corporation 1,388 28 1,416 Mundipharma International Holdings Limited 47 — 47 Seqirus UK Limited 825 167 992 Total receivables $ 3,902 $ 2,215 $ 6,117 Monthly invoices are submitted to the U.S. Department of Health and Human Services related to reimbursable research and development costs. The Company is also entitled to monthly reimbursement of indirect costs based on rates stipulated in the underlying contract. The Company’s calculations of its indirect cost rates are subject to audit by the U.S. Government. Receivables from Product Sales Receivables from product sales are recorded for amounts due to the Company related to sales of RAPIVAB ® Inventory At June 30, 2018, first first Property and Equipment Property and equipment are recorded at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Computer equipment is depreciated over a life of three five seven not In accordance with U.S. GAAP, the Company periodically reviews its property and equipment for impairment when events or changes in circumstances indicate that the carrying amount of such assets may not not Patents and Licenses The Company seeks patent protection on all internally developed processes and products. All patent related costs are expensed to selling, general and administrative expenses when incurred as recoverability of such expenditures is uncertain. Accrued Expenses The Company generally enters into contractual agreements with third not • fees paid to Clinical Research Organizations (“CROs”) in connection with preclinical and toxicology studies and clinical trials; • fees paid to investigative sites in connection with clinical trials; • fees paid to contract manufacturers in connection with the production of the Company’s raw materials, drug substance and drug products; and • professional fees. The Company bases its expenses related to clinical trials on its estimates of the services received and efforts expended pursuant to contracts with multiple research institutions and CROs that conduct and manage clinical trials on the Company’s behalf. The financial terms of these agreements are subject to negotiation, vary from contract to contract and may June 30, 2018 December 31, 2017, Income Taxes The liability method is used in the Company’s accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse. Although no six June 30, 2018, 2017 On December 22, 2017, No. 118 118” 118 not one 740, Accumulated Other Comprehensive Loss Accumulated other comprehensive loss is comprised of unrealized gains and losses on available-for-sale investments and is disclosed as a separate component of stockholders’ equity. Amounts reclassified from accumulated other comprehensive loss are recorded as interest and other income on the Consolidated Statements of Comprehensive Loss. No six June 30, 2018. $1 six June 30, 2017. Revenue Recognition Transition Considerations In May 2014, No. 2014 09: Revenue from Contracts with Customers (Topic 606 606” 606 606 The Company adopted the provisions of ASC 606 January 1, 2018 not January 1, 2018. January 1, 2018 606, not 606. Adoption of ASC 606 606, 606, January 1, 2018. The following table summarizes the cumulative effect of the changes to the Company’s unaudited Consolidated Balance Sheet as of January 1, 2018 606: Balance at December 31, 2017 Adjustments due to ASC 606 Balance at January 1, 2018 Assets Deferred collaboration expense $ 210 $ (58 ) $ 152 Liabilities Deferred revenue $ 8,484 $ (1,184 ) $ 7,300 Equity Accumulated deficit $ (631,843 ) $ 1,126 $ (630,717 ) The following tables summarize the current period impacts of adopting ASC 606 June 30, 2018 As Reported Adjustments due to Balances without Assets Deferred collaboration expense $ 12 $ 29 $ 41 Liabilities Deferred revenue $ 300 $ 592 $ 892 Equity Accumulated deficit $ (674,940 ) $ 563 $ (674,377 ) For the Three Months Ended June 30, 2018 As Reported Adjustments due to ASC 606 Balances without adoption of ASC 606 Collaborative and other research and development revenue $ 12,352 $ 296 $ 12,648 Research and development expenses 21,010 14 21,024 Net loss (18,446 ) 282 (18,164 ) Basic and diluted net loss per share $ (0.19 ) $ 0.01 $ (0.18 ) For the Six Months Ended June 30, 2018 As Reported Adjustments due to ASC 606 Balances without adoption of ASC 606 Collaborative and other research and development revenue $ 12,667 $ 592 $ 13,259 Research and development expenses 39,451 29 39,480 Net loss (44,223 ) 563 (43,660 ) Basic and diluted net loss per share $ (0.45 ) $ 0.01 $ (0.44 ) Adoption of the standard had no Collaborative and Other Research and Development Arrangements and Royalties The Company recognizes revenue when it satisfies a performance obligation by transferring promised goods or services to a customer. Revenue is measured at the transaction price that is based on the amount of consideration that the Company expects to receive in exchange for transferring the promised goods or services to the customer. The transaction price includes estimates of variable consideration to the extent it is probable that a significant reversal of revenue recognized will not The Company has collaboration and license agreements with a number of third Revenue from license fees, royalty payments, milestone payments, and research and development fees are recognized as revenue when the earnings process is complete and the Company has no Arrangements that involve the delivery of more than one not not may Milestone payments are recognized as licensing revenue upon the achievement of specified milestones if (i) the milestone is substantive in nature and the achievement of the milestone was not Reimbursements received for direct out-of-pocket expenses related to research and development costs are recorded as revenue in the Consolidated Statements of Comprehensive Loss rather than as a reduction in expenses. Under the Company’s contracts with the Biomedical Advanced Research and Development Authority within the United States Department of Health and Human Services (”BARDA/HHS”) and the National Institute of Allergy and Infectious Diseases (“NIAID/HHS”), revenue is recognized as reimbursable direct and indirect costs are incurred. Under certain of the Company’s license agreements, the Company receives royalty payments based upon its licensees’ net sales of covered products. Royalties are recognized at the later of when (i) the subsequent sale or usage occurs, or (ii) the performance obligation to which some or all of the sales-based or usage-based royalty has been satisfied. Product Sales The Company recognizes revenue for sales of RAPIVAB when the customer obtains control of the product, which generally occurs on the date of shipment to the Company’s specialty distributors, utilizing the Sell-In revenue recognition methodology. Product sales are recognized net of estimated allowances, discounts, sales returns, chargebacks and rebates. In the United States, and prior to the SUL Agreement, the Company sold RAPIVAB to specialty distributors, who in turn, sell to physician offices, hospitals and federal, state and commercial health care organizations. With the completion of the SUL worldwide license of RAPIVAB, SUL will be responsible for sales of RAPIVAB, other than U.S. Government stockpiling sales. With the completion of the SUL collaboration, all peramivir sales (i.e., RAPIVAB, ALPIVAB TM ® ® Sales deductions consist of statutory rebates to state Medicaid, Medicare and other government agencies and sales discounts (including trade discounts and distribution service fees). These deductions are recorded as reductions from revenue from RAPIVAB in the same period as the related sales with estimates of future utilization derived from historical experience adjusted to reflect known changes in the factors that impact such reserves. The Company recorded the following revenues for the three six June 30, 2018 2017: Three Months Six Months 2018 2017 2018 2017 Royalty revenue $ 142 $ 489 $ 3,803 $ 6,810 Collaborative and other research and development revenues: U.S. Department of Health and Human Services 352 2,161 667 2,815 Shionogi & Co. Ltd. — 296 — 592 Seqirus UK Limited 12,000 153 12,000 2,319 Total collaborative and other research and development revenues 12,352 2,610 12,667 5,726 Total revenues $ 12,494 $ 3,099 $ 16,470 $ 12,536 Contract Balances The timing of revenue recognition, billings and cash collections results in billed accounts receivable, unbilled receivables (contract assets) and deferred revenue and billings in excess of revenue recognized (contract liabilities) on the Consolidated Balance Sheets. Contract assets Contract liabilities Contract Costs The Company may Advertising The Company engages in very limited distribution and direct-response advertising when promoting RAPIVAB. Advertising and promotional costs are expensed as the costs are incurred. Research and Development Expenses The Company’s research and development costs are charged to expense when incurred. Research and development expenses include all direct and indirect development costs related to the development of the Company’s portfolio of product candidates. Advance payments for goods or services that will be used or rendered for future research and development activities are deferred and capitalized. Such amounts are recognized as expense when the related goods are delivered or the related services are performed. Research and development expenses include, among other items, personnel costs, including salaries and benefits, manufacturing costs, clinical, regulatory, and toxicology services performed by CROs, materials and supplies, and overhead allocations consisting of various administrative and facilities related costs. Most of the Company’s manufacturing and clinical and preclinical studies are performed by third Additionally, the Company has license agreements with third Deferred collaboration expenses represent sub-license payments, paid to the Company’s academic partners upon receipt of consideration from various commercial partners, and other consideration paid to the Company’s academic partners for modification to existing license agreements. These deferred expenses would not Stock-Based Compensation All share-based payments, including grants of stock option awards and restricted stock unit awards, are recognized in the Company’s Consolidated Statements of Comprehensive Loss based on their fair values. The fair value of stock option awards is estimated using the Black-Scholes option pricing model. The fair value of restricted stock unit awards is based on the grant date closing price of the common stock. Stock-based compensation cost is recognized as expense on a straight-line basis over the requisite service period of the award. In addition, we have outstanding performance-based stock options for which no Interest Expense and Deferred Financing Costs Interest expense for the three June 30, 2018 2017 $2,195 $2,094, six June 30, 2018 2017 $4,416 $4,194, 4 5 $223 $220 three June 30, 2018 2017, $455 $439 six June 30, 2018 2017, Lease Financing Obligation Based on the terms of the lease agreement for the new research facility in Birmingham, Alabama, the Company had construction period risks during the construction period and the Company was deemed the owner of the building (for accounting purposes only) during the construction period. Accordingly, the Company recorded an asset of $1,589 December 31, 2015, 2016, not 20.5 no three June 30, 2018 2017 $84 $55, six June 30, 2018 June 30, 2017 $167 $135, At each of June 30, 2018 December 31, 2017, $2,703 June 30, 2018 $4,114. Currency Hedge Agreement In connection with the issuance by Royalty Sub of the PhaRMA Notes, the Company entered into a Currency Hedge Agreement to hedge certain risks associated with changes in the value of the Japanese yen relative to the U.S. dollar. The Currency Hedge Agreement does not six June 30, 2018 2017 $1,186 $1,943, third not 2 $889 $921 first six 2018 2017, June 30, 2018 December 31, 2017, no Net Loss Per Share Net loss per share is based upon the weighted average number of common shares outstanding during the period. Diluted loss per share is equivalent to basic net loss per share for all periods presented herein because common equivalent shares from unexercised stock options and common shares expected to be issued under the Company’s employee stock purchase plan were anti-dilutive. The calculation of diluted earnings per share for the three June 30, 2018 2017 not 1,939 2,208, six June 30, 2018 2017 not 1,854 2,475, Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the financial statements. Actual results could differ from those estimates. Significant Customers and Other Risks Significant Customers Prior to the SUL Agreement, the Company relied primarily on three three 90% one Other than peramivir royalty revenues for which SUL has a significant percentage of worldwide geography, the Company’s primary source of revenue that has an underlying cash flow stream is the reimbursement of galidesivir (formerly BCX4430 third Risks from Third Party Manufacturing and Distribution Concentration The Company primarily relies on single source manufacturers for active pharmaceutical ingredient and finished drug product manufacturing of product candidates in development. Delays in the manufacture or distribution of any product could adversely impact the commercial revenue and future procurement stockpiling of the Company’s product candidates in development. Credit Risk Cash equivalents and investments are financial instruments which potentially subject the Company to concentration of risk to the extent recorded on the Consolidated Balance Sheets. The Company deposits excess cash with major financial institutions in the United States. Balances may 18 no Recent Accounting Pronouncements On December 22, 2017, 118, 118 not one 740, In November 2016, 2016 18: Statement of Cash Flows (Topic 230 2016 18” December 15, 2017, 2016 18 January 1, 2018 2016 18 not In August 2016, No. 2016 15: Statement of Cash Flows (Topic 230 2016 15” one December 15, 2017, 2016 15 January 1, 2018. 2016 15 not In February 2016, No. 2016 02: Leases (Topic 842 2016 02” 12 2016 02 2019, In January 2016, No. 2016 01: Financial Instruments - Overall (Subtopic 825 10 2016 01” December 15, 2017, 2016 15 January 1, 2018. 2016 15 not

Note 2 - Stock-based Compensati

Note 2 - Stock-based Compensation	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Note 2 As of June 30, 2018, two April 2017 May 2017. March 2014 May 2014. $4,987 $4,904 $83 first six 2018, $4,788 $4,652 $136 first six 2017. There was approximately $14,509 June 30, 2018. $3,927 2018, $5,845 2019, $3,363 2020, $1,372 2021 $2 2022. no Stock Incentive Plan The Company grants stock option awards and restricted stock unit awards to its employees, directors, and consultants under the Incentive Plan. Under the Incentive Plan, stock option awards are granted with an exercise price equal to the market price of the Company’s stock at the date of grant. Stock option awards granted to employees generally vest 25% four August 2013 December 2014, 1,032 1,250 June 30, 2018, 75% August 2013 three 1 1 second 2014, 2 fourth 2014, 3 1 BCX7353 second 2015. June 30, 2018, 30% December 2014 2 nd August 2017. June 30, 2018, 25% August 2013 70% December 2014 no one 5 10 Related activity under the Incentive Plan is as follows: Awards Available Options Outstanding Weighted Average Exercise Price Balance December 31, 2017 468 14,452 $ 6.06 Restricted stock unit awards granted (10 ) — — Restricted stock unit awards cancelled — — — Stock option awards granted (222 ) 222 6.00 Stock option awards exercised — (372 ) 2.68 Stock option awards cancelled 93 (93 ) 5.71 Balance June 30, 2018 329 14,209 $ 6.15 As of June 30, 2018, 27 For stock option awards granted under the Incentive Plan during the first six 2018, first six 2018 2017 $4.13 $3.74, first six 2018. not no not zero Weighted Average Assumptions for Stock Option Awards Granted to Employees and Directors under the Incentive Plan 2018 Expected Life in Years 5.5 Expected Volatility 82 % Expected Dividend Yield 0.0 % Risk-Free Interest Rate 2.7 % Employee Stock Purchase Plan (“ESPP”) The Company has reserved a total of 1,475 277 June 30, 2018. may 15% 85% 85% six No 3 may one six no may $25 one 49 first six 2018

Note 3 - Collaborative and Othe

Note 3 - Collaborative and Other Research and Development Contracts	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Collaborative Arrangement Disclosure [Text Block]	Note 3 U.S. Department of Health and Human Services (“BARDA/HHS”). March 31, 2015, $16,265 $22,855 $39,120. June 30, 2018, $20,574 National Institute of Allergy and Infectious Diseases (“NIAID/HHS”). September 2013, $5,000 1 June 30, 2018, 1 $39,477. June 30, 2018, The contracts with NIAID/HHS and BARDA/HHS are cost-plus-fixed-fee contracts. That is, the Company is entitled to receive reimbursement for all costs incurred in accordance with the contract provisions that are related to the development of galidesivir plus a fixed fee, or profit. NIAID/HHS and BARDA/HHS will make periodic assessments of progress and the continuation of the contract is based on the Company’s performance, the timeliness and quality of deliverables, and other factors. The government has rights under certain contract clauses to terminate these contracts. These contracts are terminable by the government at any time for breach or without cause. Seqirus UK Limited (“SUL”). June 16, 2015, first December 2014 18 no two Pursuant to the SUL Agreement, RAPIVAB and ALPIVAB are licensed to and expected to be commercialized by CSL's subsidiary, SUL, which specializes in influenza prevention through the supply of seasonal and pandemic vaccine to global markets. SUL will manufacture, commercialize and exercise decision-making authority with respect to the development and commercialization of RAPIVAB and ALPIVAB within the Territory and be responsible for all related costs, including sales and promotion. Under the terms of the SUL Agreement, the Company is responsible for fulfilling all post-marketing approval commitments in connection with the FDA's approval of the new drug application (“NDA”), and upon fulfillment will transfer ownership of and financial responsibility for the NDA to SUL. Under the terms of the SUL Agreement, the Company received an upfront payment of $33,740, $7,000 $5,000 April 2018. $7,000 second 2018. not July 1 - June 30) ten Shionogi & Co., Ltd. (“Shionogi”). February 2007, October 2008, In December 2017, not not Green Cross Corporation (“Green Cross”). June 2006, one $250. Mundipharma International Holdings Limited (“Mundipharma”). February 2006, $10,000 April 2017, ® Albert Einstein College of Medicine of Yeshiva University and Industrial Research, Ltd. (“AECOM” and “IRL” respectively). June 2000, $1,400 $4,000 one third $150 $500, may 60 In May 2010, one third not may February 1, 2006 On June 19, 2012, On January 6, 2014, The University of Alabama at Birmingham (“UAB”). third two 25 five three no

Note 4 - Royalty Monetization

Note 4 - Royalty Monetization	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Royalty Monetization [Text Block]	Note 4 Overview On March 9, 2011, $30,000 $22,691 $4,309 $3,000 September 2012 As part of the transaction, the Company entered into a purchase and sale agreement dated as of March 9, 2011 not Non-Recourse Notes Payable On March 9, 2011, $30,000 14.0% 2020 March 9, 2011 14% September 1st Royalty Sub’s obligations to pay principal and interest on the PhaRMA Notes are obligations solely of Royalty Sub and are without recourse to any other person, including the Company, except to the extent of the Company’s pledge of its equity interests in Royalty Sub in support of the PhaRMA Notes. The Company may, not may one In September 2014, September 3, 2013. September 2013 September 1, 2014, December 31, 2014 may may may not may no not June 30, 2018, The Indenture does not As of June 30, 2018, 50% $30,000. 2 The PhaRMA Notes are redeemable at the option of Royalty Sub at any time at a redemption price equal to the outstanding principal balance of the PhaRMA Notes being redeemed plus accrued and unpaid interest through the redemption date on the PhaRMA Notes being redeemed. Currency Hedge Agreement In connection with the issuance by Royalty Sub of the PhaRMA Notes, the Company entered into a Currency Hedge Agreement to hedge certain risks associated with changes in the value of the Japanese yen relative to the U.S. dollar. Under the Currency Hedge Agreement, the Company has the right to purchase dollars and sell yen at a rate of 100 may 2019 2020, $1,950 May 18 100 The Currency Hedge Agreement does not six June 30, 2018 2017 $1,186 $1,943 June 30, 2018 December 31, 2017, no not June 30, 2018, may $3,900.

Note 5 - Senior Credit Facility

Note 5 - Senior Credit Facility	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Debt Disclosure [Text Block]	Note 5 On September 23, 2016, $23,000 not 0.5% 8%. 2017 40 5% As of June 30, 2018, $19,550 10.0%. Principal Payments 2018 $ 3,450 2019 6,900 2020 6,900 2021 2,300 Total $ 19,550 The debt agreement contains two not July 2018, 7

Note 6 - Stockholders' Equity

Note 6 - Stockholders' Equity	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	Note 6 On November 8, 2017, $200,000 3 December 12, 2017 August 2018, 7

Note 7 - Subsequent Event

Note 7 - Subsequent Event	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Subsequent Events [Text Block]	Note 7 On July 10, 2018, January 21, 2018 ( July 10, 2018 not $6,000 July 2018. On July 20, 2018, $30,000 July 20, 2018 ( September 23, 2016. not 0.5% 8%. July 2019 30 On August 6, 2018, 10,454,546 $5.50 30 $53,400

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Business Combinations Policy [Policy Text Block]	Agreement and Plan of Merger On January 21, 2018, Following the BioCryst stockholders’ failure to approve the adoption of the Merger Agreement at the BioCryst special meeting of stockholders held on July 10, 2018, $6,000 July 2018, 7
Description of Company [Policy Text Block]	The Company BioCryst is a biotechnology company that designs, optimizes and develops novel small molecule drugs that block key enzymes involved in the pathogenesis of diseases. The Company focuses on oral treatments for rare diseases in which significant unmet medical needs exist and that align with its capabilities and expertise. The Company was incorporated in Delaware in 1986 With the funds available at June 30, 2018 7, 2020. 2018 2018 2020. may 2020 1 2 3 4 5 one 6 may
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, JPR Royalty Sub LLC (“Royalty Sub”) and MDCP, LLC (“MDCP”) and Nautilus Holdco, Inc. All subsidiaries were formed to facilitate financing and/or strategic transactions for the Company. In the case of Nautilus Holdco, Inc., the subsidiary was formed entirely to facilitate a merger with Idera which was terminated. Royalty Sub was formed in connection with a $30,000 March 9, 2011. 4, $23,000 September 23, 2016. 5, The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial reporting and the instructions to Form 10 not no These financial statements should be read in conjunction with the financial statements for the year ended December 31, 2017 2017 10 not December 31, 2017 10
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents The Company generally considers cash equivalents to be all cash held in commercial checking accounts, certificates of deposit, money market accounts or investments in debt instruments with maturities of three
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Restricted Cash Restricted cash as of June 30, 2018 $6,213 4 $1,412
Investment, Policy [Policy Text Block]	Investments The Company invests in high credit quality investments in accordance with its investment policy, which is designed to minimize the possibility of loss. The objective of the Company’s investment policy is to ensure the safety and preservation of invested funds, as well as maintaining liquidity sufficient to meet cash flow requirements. The Company places its excess cash with high credit quality financial institutions, commercial companies, and government agencies in order to limit the amount of its credit exposure. In accordance with its policy, the Company is able to invest in marketable debt securities that may three no 18 may may not not not The Company classifies all of its investments as available-for-sale. Unrealized gains and losses on investments are recognized in comprehensive loss, unless an unrealized loss is considered to be other than temporary, in which case the unrealized loss is charged to operations. The Company periodically reviews its investments for other than temporary declines in fair value below cost basis and whenever events or changes in circumstances indicate that the carrying amount of an asset may not three 12 12 June 30, 2018, The following tables summarize the fair value of the Company’s investments by type. The estimated fair values of the Company’s fixed income investments are classified as Level 2 not not 2 June 30, 2018 Amortized Cost Accrued Interest Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Obligations of the U.S. Government and its agencies $ 47,023 $ 136 $ — $ (204 ) $ 46,955 Corporate debt securities 33,465 199 — (226 ) 33,438 Certificates of deposit 6,985 24 — (22 ) 6,987 Total investments $ 87,473 $ 359 $ — $ (452 ) $ 87,380 December 31, 2017 Amortized Cost Accrued Interest Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Obligations of the U.S. Government and its agencies $ 60,121 $ 177 $ — $ (122 ) $ 60,176 Corporate debt securities 34,021 203 — (108 ) 34,116 Certificates of deposit 11,099 32 1 (14 ) 11,118 Total investments $ 105,241 $ 412 $ 1 $ (244 ) $ 105,410 The following table summarizes the scheduled maturity for the Company’s investments at June 30, 2018 December 31, 2017. 2018 2017 Maturing in one year or less $ 53,636 $ 64,115 Maturing after one year through two years 33,744 34,257 Maturing after two years — 7,038 Total investments $ 87,380 $ 105,410
Receivables, Policy [Policy Text Block]	Receivables from Collaborations Receivables from collaborations are recorded for amounts due to the Company related to reimbursable research and development costs from the U.S. Department of Health and Human Services, royalty receivables from Shionogi, Green Cross Corporation (“Green Cross”), Mundipharma International Holdings Limited (“Mundipharma”) and Seqirus UK Limited (“SUL”), and product sales to SUL. These receivables are evaluated to determine if any reserve or allowance should be established at each reporting date. At June 30, 2018 December 31, 2017, June 30, 2018 Billed Unbilled Total U.S. Department of Health and Human Services $ 87 $ 1,090 $ 1,177 Shionogi & Co. Ltd. 27 — 27 Green Cross Corporation 51 27 78 Mundipharma International Holdings Limited 43 — 43 Seqirus UK Limited 1,017 — 1,017 Total receivables $ 1,225 $ 1,117 $ 2,342 December 31, 2017 Billed Unbilled Total U.S. Department of Health and Human Services $ 42 $ 2,020 $ 2,062 Shionogi & Co. Ltd. 1,600 — 1,600 Green Cross Corporation 1,388 28 1,416 Mundipharma International Holdings Limited 47 — 47 Seqirus UK Limited 825 167 992 Total receivables $ 3,902 $ 2,215 $ 6,117 Monthly invoices are submitted to the U.S. Department of Health and Human Services related to reimbursable research and development costs. The Company is also entitled to monthly reimbursement of indirect costs based on rates stipulated in the underlying contract. The Company’s calculations of its indirect cost rates are subject to audit by the U.S. Government. Receivables from Product Sales Receivables from product sales are recorded for amounts due to the Company related to sales of RAPIVAB ®
Inventory, Policy [Policy Text Block]	Inventory At June 30, 2018, first first
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment Property and equipment are recorded at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Computer equipment is depreciated over a life of three five seven not In accordance with U.S. GAAP, the Company periodically reviews its property and equipment for impairment when events or changes in circumstances indicate that the carrying amount of such assets may not not
Intangible Assets, Finite-Lived, Policy [Policy Text Block]	Patents and Licenses The Company seeks patent protection on all internally developed processes and products. All patent related costs are expensed to selling, general and administrative expenses when incurred as recoverability of such expenditures is uncertain.
Accrued Expenses [Policy Text Block]	Accrued Expenses The Company generally enters into contractual agreements with third not • fees paid to Clinical Research Organizations (“CROs”) in connection with preclinical and toxicology studies and clinical trials; • fees paid to investigative sites in connection with clinical trials; • fees paid to contract manufacturers in connection with the production of the Company’s raw materials, drug substance and drug products; and • professional fees. The Company bases its expenses related to clinical trials on its estimates of the services received and efforts expended pursuant to contracts with multiple research institutions and CROs that conduct and manage clinical trials on the Company’s behalf. The financial terms of these agreements are subject to negotiation, vary from contract to contract and may June 30, 2018 December 31, 2017,
Income Tax, Policy [Policy Text Block]	Income Taxes The liability method is used in the Company’s accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse. Although no six June 30, 2018, 2017 On December 22, 2017, No. 118 118” 118 not one 740,
Comprehensive Income, Policy [Policy Text Block]	Accumulated Other Comprehensive Loss Accumulated other comprehensive loss is comprised of unrealized gains and losses on available-for-sale investments and is disclosed as a separate component of stockholders’ equity. Amounts reclassified from accumulated other comprehensive loss are recorded as interest and other income on the Consolidated Statements of Comprehensive Loss. No six June 30, 2018. $1 six June 30, 2017.
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition Transition Considerations In May 2014, No. 2014 09: Revenue from Contracts with Customers (Topic 606 606” 606 606 The Company adopted the provisions of ASC 606 January 1, 2018 not January 1, 2018. January 1, 2018 606, not 606. Adoption of ASC 606 606, 606, January 1, 2018. The following table summarizes the cumulative effect of the changes to the Company’s unaudited Consolidated Balance Sheet as of January 1, 2018 606: Balance at December 31, 2017 Adjustments due to ASC 606 Balance at January 1, 2018 Assets Deferred collaboration expense $ 210 $ (58 ) $ 152 Liabilities Deferred revenue $ 8,484 $ (1,184 ) $ 7,300 Equity Accumulated deficit $ (631,843 ) $ 1,126 $ (630,717 ) The following tables summarize the current period impacts of adopting ASC 606 June 30, 2018 As Reported Adjustments due to Balances without Assets Deferred collaboration expense $ 12 $ 29 $ 41 Liabilities Deferred revenue $ 300 $ 592 $ 892 Equity Accumulated deficit $ (674,940 ) $ 563 $ (674,377 ) For the Three Months Ended June 30, 2018 As Reported Adjustments due to ASC 606 Balances without adoption of ASC 606 Collaborative and other research and development revenue $ 12,352 $ 296 $ 12,648 Research and development expenses 21,010 14 21,024 Net loss (18,446 ) 282 (18,164 ) Basic and diluted net loss per share $ (0.19 ) $ 0.01 $ (0.18 ) For the Six Months Ended June 30, 2018 As Reported Adjustments due to ASC 606 Balances without adoption of ASC 606 Collaborative and other research and development revenue $ 12,667 $ 592 $ 13,259 Research and development expenses 39,451 29 39,480 Net loss (44,223 ) 563 (43,660 ) Basic and diluted net loss per share $ (0.45 ) $ 0.01 $ (0.44 ) Adoption of the standard had no Collaborative and Other Research and Development Arrangements and Royalties The Company recognizes revenue when it satisfies a performance obligation by transferring promised goods or services to a customer. Revenue is measured at the transaction price that is based on the amount of consideration that the Company expects to receive in exchange for transferring the promised goods or services to the customer. The transaction price includes estimates of variable consideration to the extent it is probable that a significant reversal of revenue recognized will not The Company has collaboration and license agreements with a number of third Revenue from license fees, royalty payments, milestone payments, and research and development fees are recognized as revenue when the earnings process is complete and the Company has no Arrangements that involve the delivery of more than one not not may Milestone payments are recognized as licensing revenue upon the achievement of specified milestones if (i) the milestone is substantive in nature and the achievement of the milestone was not Reimbursements received for direct out-of-pocket expenses related to research and development costs are recorded as revenue in the Consolidated Statements of Comprehensive Loss rather than as a reduction in expenses. Under the Company’s contracts with the Biomedical Advanced Research and Development Authority within the United States Department of Health and Human Services (”BARDA/HHS”) and the National Institute of Allergy and Infectious Diseases (“NIAID/HHS”), revenue is recognized as reimbursable direct and indirect costs are incurred. Under certain of the Company’s license agreements, the Company receives royalty payments based upon its licensees’ net sales of covered products. Royalties are recognized at the later of when (i) the subsequent sale or usage occurs, or (ii) the performance obligation to which some or all of the sales-based or usage-based royalty has been satisfied. Product Sales The Company recognizes revenue for sales of RAPIVAB when the customer obtains control of the product, which generally occurs on the date of shipment to the Company’s specialty distributors, utilizing the Sell-In revenue recognition methodology. Product sales are recognized net of estimated allowances, discounts, sales returns, chargebacks and rebates. In the United States, and prior to the SUL Agreement, the Company sold RAPIVAB to specialty distributors, who in turn, sell to physician offices, hospitals and federal, state and commercial health care organizations. With the completion of the SUL worldwide license of RAPIVAB, SUL will be responsible for sales of RAPIVAB, other than U.S. Government stockpiling sales. With the completion of the SUL collaboration, all peramivir sales (i.e., RAPIVAB, ALPIVAB TM ® ® Sales deductions consist of statutory rebates to state Medicaid, Medicare and other government agencies and sales discounts (including trade discounts and distribution service fees). These deductions are recorded as reductions from revenue from RAPIVAB in the same period as the related sales with estimates of future utilization derived from historical experience adjusted to reflect known changes in the factors that impact such reserves. The Company recorded the following revenues for the three six June 30, 2018 2017: Three Months Six Months 2018 2017 2018 2017 Royalty revenue $ 142 $ 489 $ 3,803 $ 6,810 Collaborative and other research and development revenues: U.S. Department of Health and Human Services 352 2,161 667 2,815 Shionogi & Co. Ltd. — 296 — 592 Seqirus UK Limited 12,000 153 12,000 2,319 Total collaborative and other research and development revenues 12,352 2,610 12,667 5,726 Total revenues $ 12,494 $ 3,099 $ 16,470 $ 12,536 Contract Balances The timing of revenue recognition, billings and cash collections results in billed accounts receivable, unbilled receivables (contract assets) and deferred revenue and billings in excess of revenue recognized (contract liabilities) on the Consolidated Balance Sheets. Contract assets Contract liabilities Contract Costs The Company may Advertising The Company engages in very limited distribution and direct-response advertising when promoting RAPIVAB. Advertising and promotional costs are expensed as the costs are incurred.
Research and Development Expense, Policy [Policy Text Block]	Research and Development Expenses The Company’s research and development costs are charged to expense when incurred. Research and development expenses include all direct and indirect development costs related to the development of the Company’s portfolio of product candidates. Advance payments for goods or services that will be used or rendered for future research and development activities are deferred and capitalized. Such amounts are recognized as expense when the related goods are delivered or the related services are performed. Research and development expenses include, among other items, personnel costs, including salaries and benefits, manufacturing costs, clinical, regulatory, and toxicology services performed by CROs, materials and supplies, and overhead allocations consisting of various administrative and facilities related costs. Most of the Company’s manufacturing and clinical and preclinical studies are performed by third Additionally, the Company has license agreements with third Deferred collaboration expenses represent sub-license payments, paid to the Company’s academic partners upon receipt of consideration from various commercial partners, and other consideration paid to the Company’s academic partners for modification to existing license agreements. These deferred expenses would not
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Stock-Based Compensation All share-based payments, including grants of stock option awards and restricted stock unit awards, are recognized in the Company’s Consolidated Statements of Comprehensive Loss based on their fair values. The fair value of stock option awards is estimated using the Black-Scholes option pricing model. The fair value of restricted stock unit awards is based on the grant date closing price of the common stock. Stock-based compensation cost is recognized as expense on a straight-line basis over the requisite service period of the award. In addition, we have outstanding performance-based stock options for which no
Interest Expense and Deferred Financing Costs [Policy Text Block]	Interest Expense and Deferred Financing Costs Interest expense for the three June 30, 2018 2017 $2,195 $2,094, six June 30, 2018 2017 $4,416 $4,194, 4 5 $223 $220 three June 30, 2018 2017, $455 $439 six June 30, 2018 2017,
Lessee, Leases [Policy Text Block]	Lease Financing Obligation Based on the terms of the lease agreement for the new research facility in Birmingham, Alabama, the Company had construction period risks during the construction period and the Company was deemed the owner of the building (for accounting purposes only) during the construction period. Accordingly, the Company recorded an asset of $1,589 December 31, 2015, 2016, not 20.5 no three June 30, 2018 2017 $84 $55, six June 30, 2018 June 30, 2017 $167 $135, At each of June 30, 2018 December 31, 2017, $2,703 June 30, 2018 $4,114.
Currency Hedge Agreement [Policy Text Block]	Currency Hedge Agreement In connection with the issuance by Royalty Sub of the PhaRMA Notes, the Company entered into a Currency Hedge Agreement to hedge certain risks associated with changes in the value of the Japanese yen relative to the U.S. dollar. The Currency Hedge Agreement does not six June 30, 2018 2017 $1,186 $1,943, third not 2 $889 $921 first six 2018 2017, June 30, 2018 December 31, 2017, no
Earnings Per Share, Policy [Policy Text Block]	Net Loss Per Share Net loss per share is based upon the weighted average number of common shares outstanding during the period. Diluted loss per share is equivalent to basic net loss per share for all periods presented herein because common equivalent shares from unexercised stock options and common shares expected to be issued under the Company’s employee stock purchase plan were anti-dilutive. The calculation of diluted earnings per share for the three June 30, 2018 2017 not 1,939 2,208, six June 30, 2018 2017 not 1,854 2,475,
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the financial statements. Actual results could differ from those estimates.
Concentration of Market Risk [Policy Text Block]	Significant Customers and Other Risks Significant Customers Prior to the SUL Agreement, the Company relied primarily on three three 90% one Other than peramivir royalty revenues for which SUL has a significant percentage of worldwide geography, the Company’s primary source of revenue that has an underlying cash flow stream is the reimbursement of galidesivir (formerly BCX4430 third Risks from Third Party Manufacturing and Distribution Concentration The Company primarily relies on single source manufacturers for active pharmaceutical ingredient and finished drug product manufacturing of product candidates in development. Delays in the manufacture or distribution of any product could adversely impact the commercial revenue and future procurement stockpiling of the Company’s product candidates in development. Credit Risk Cash equivalents and investments are financial instruments which potentially subject the Company to concentration of risk to the extent recorded on the Consolidated Balance Sheets. The Company deposits excess cash with major financial institutions in the United States. Balances may 18 no
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements On December 22, 2017, 118, 118 not one 740, In November 2016, 2016 18: Statement of Cash Flows (Topic 230 2016 18” December 15, 2017, 2016 18 January 1, 2018 2016 18 not In August 2016, No. 2016 15: Statement of Cash Flows (Topic 230 2016 15” one December 15, 2017, 2016 15 January 1, 2018. 2016 15 not In February 2016, No. 2016 02: Leases (Topic 842 2016 02” 12 2016 02 2019, In January 2016, No. 2016 01: Financial Instruments - Overall (Subtopic 825 10 2016 01” December 15, 2017, 2016 15 January 1, 2018. 2016 15 not

Note 1 - Significant Accounti14

Note 1 - Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Debt Securities, Available-for-sale [Table Text Block]	June 30, 2018 Amortized Cost Accrued Interest Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Obligations of the U.S. Government and its agencies $ 47,023 $ 136 $ — $ (204 ) $ 46,955 Corporate debt securities 33,465 199 — (226 ) 33,438 Certificates of deposit 6,985 24 — (22 ) 6,987 Total investments $ 87,473 $ 359 $ — $ (452 ) $ 87,380 December 31, 2017 Amortized Cost Accrued Interest Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Obligations of the U.S. Government and its agencies $ 60,121 $ 177 $ — $ (122 ) $ 60,176 Corporate debt securities 34,021 203 — (108 ) 34,116 Certificates of deposit 11,099 32 1 (14 ) 11,118 Total investments $ 105,241 $ 412 $ 1 $ (244 ) $ 105,410
Available For Sale Securities Debt Maturities Fair Value [Table Text Block]	2018 2017 Maturing in one year or less $ 53,636 $ 64,115 Maturing after one year through two years 33,744 34,257 Maturing after two years — 7,038 Total investments $ 87,380 $ 105,410
Schedule of Receivables from Collaborations [Table Text Block]	June 30, 2018 Billed Unbilled Total U.S. Department of Health and Human Services $ 87 $ 1,090 $ 1,177 Shionogi & Co. Ltd. 27 — 27 Green Cross Corporation 51 27 78 Mundipharma International Holdings Limited 43 — 43 Seqirus UK Limited 1,017 — 1,017 Total receivables $ 1,225 $ 1,117 $ 2,342 December 31, 2017 Billed Unbilled Total U.S. Department of Health and Human Services $ 42 $ 2,020 $ 2,062 Shionogi & Co. Ltd. 1,600 — 1,600 Green Cross Corporation 1,388 28 1,416 Mundipharma International Holdings Limited 47 — 47 Seqirus UK Limited 825 167 992 Total receivables $ 3,902 $ 2,215 $ 6,117
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]	Balance at December 31, 2017 Adjustments due to ASC 606 Balance at January 1, 2018 Assets Deferred collaboration expense $ 210 $ (58 ) $ 152 Liabilities Deferred revenue $ 8,484 $ (1,184 ) $ 7,300 Equity Accumulated deficit $ (631,843 ) $ 1,126 $ (630,717 ) June 30, 2018 As Reported Adjustments due to Balances without Assets Deferred collaboration expense $ 12 $ 29 $ 41 Liabilities Deferred revenue $ 300 $ 592 $ 892 Equity Accumulated deficit $ (674,940 ) $ 563 $ (674,377 ) For the Three Months Ended June 30, 2018 As Reported Adjustments due to ASC 606 Balances without adoption of ASC 606 Collaborative and other research and development revenue $ 12,352 $ 296 $ 12,648 Research and development expenses 21,010 14 21,024 Net loss (18,446 ) 282 (18,164 ) Basic and diluted net loss per share $ (0.19 ) $ 0.01 $ (0.18 ) For the Six Months Ended June 30, 2018 As Reported Adjustments due to ASC 606 Balances without adoption of ASC 606 Collaborative and other research and development revenue $ 12,667 $ 592 $ 13,259 Research and development expenses 39,451 29 39,480 Net loss (44,223 ) 563 (43,660 ) Basic and diluted net loss per share $ (0.45 ) $ 0.01 $ (0.44 )
Disaggregation of Revenue [Table Text Block]	Three Months Six Months 2018 2017 2018 2017 Royalty revenue $ 142 $ 489 $ 3,803 $ 6,810 Collaborative and other research and development revenues: U.S. Department of Health and Human Services 352 2,161 667 2,815 Shionogi & Co. Ltd. — 296 — 592 Seqirus UK Limited 12,000 153 12,000 2,319 Total collaborative and other research and development revenues 12,352 2,610 12,667 5,726 Total revenues $ 12,494 $ 3,099 $ 16,470 $ 12,536

Note 2 - Stock-based Compensa15

Note 2 - Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Share-based Compensation, Activity [Table Text Block]	Awards Available Options Outstanding Weighted Average Exercise Price Balance December 31, 2017 468 14,452 $ 6.06 Restricted stock unit awards granted (10 ) — — Restricted stock unit awards cancelled — — — Stock option awards granted (222 ) 222 6.00 Stock option awards exercised — (372 ) 2.68 Stock option awards cancelled 93 (93 ) 5.71 Balance June 30, 2018 329 14,209 $ 6.15
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	2018 Expected Life in Years 5.5 Expected Volatility 82 % Expected Dividend Yield 0.0 % Risk-Free Interest Rate 2.7 %

Note 5 - Senior Credit Facili16

Note 5 - Senior Credit Facility (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Schedule of Maturities of Long-term Debt [Table Text Block]	Principal Payments 2018 $ 3,450 2019 6,900 2020 6,900 2021 2,300 Total $ 19,550

Note 1 - Significant Accounti17

Note 1 - Significant Accounting Policies (Details Textual) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018USD ($)shares	Jun. 30, 2017USD ($)shares	Jun. 30, 2018USD ($)shares	Jun. 30, 2017USD ($)shares	Jul. 10, 2018USD ($)	Dec. 31, 2017USD ($)	Sep. 23, 2016USD ($)	Dec. 31, 2015USD ($)	Mar. 09, 2011USD ($)
Long-term Line of Credit, Total	$ 13,469		$ 13,469			$ 16,750
Restricted Cash and Cash Equivalents, Current, Total	7,625		7,625			3,286
Loss on Sale of Investments			0
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax			0	$ 1
Interest Expense, Debt, Total	2,195	$ 2,094	4,416	4,194
Amortization of Debt Issuance Costs	223	220	455	439
Interest Expense, Total	2,195	$ 2,094	4,416	$ 4,194
Lease Financing Obligation, Net of Current	$ 2,711		$ 2,711			2,751
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | shares	1,939	2,208	1,854	2,475
RAPIVAB [Member] | Customer Concentration Risk [Member] | Sales Revenue, Product Line [Member]
Number of Major Customers			3
RAPIVAB [Member] | Customer Concentration Risk [Member] | Sales Revenue, Product Line [Member] | Three Customers [Member]
Concentration Risk, Percentage			90.00%
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member]
Derivative, Loss on Derivative			$ 1,186	$ 1,943
Derivative, Gain on Derivative			889	921
Currency Hedge Agreement [Member]
Collateral Already Posted, Aggregate Fair Value	$ 0		0			0
Birmingham Research Facility [Member]
Interest Expense, Total	84	$ 55	167	$ 135
Lease Financing Obligation, Net of Current	2,703		2,703			$ 2,703
Capital Leases, Future Minimum Payments Due, Total	4,114		$ 4,114
Computer Equipment [Member]
Property, Plant and Equipment, Useful Life			3 years
Laboratory Equipment, Office Equipment and Software [Member]
Property, Plant and Equipment, Useful Life			5 years
Furniture and Fixtures [Member]
Property, Plant and Equipment, Useful Life			7 years
Leasehold Improvements [Member] | Birmingham Research Facility [Member]
Property, Plant and Equipment, Useful Life			20 years 182 days
Property, Plant and Equipment, Gross, Ending Balance								$ 1,589
Maximum [Member]
Maturity Period of High Quality Marketable Securities			3 years
Average Maturity Period of High Quality Marketable Securities			1 year 180 days
Maturity Period of Short Term Investment			1 year
Average Maturity for Portfolio Investments			1 year 180 days
Minimum [Member]
Maturity Period of Short Term Investment			90 days
Long-term Investment Maturity, Minimum			1 year
Royalty Receivable [Member]
Restricted Cash and Cash Equivalents, Current, Total	6,213		$ 6,213
Collateral for Credit [Member]
Restricted Cash and Cash Equivalents, Current, Total	1,412		1,412
Senior Credit Facility [Member] | MidCap Financial Services, LLC [Member]
Long-term Line of Credit, Total	$ 19,550		$ 19,550				$ 23,000
JPR Royalty Sub LLC [Member]
Revenue Recognition Royalty and Milestone Revenue Recognized									$ 30,000
Subsequent Event [Member]
Business Combination, Agreement Terminated, Expected Transaction-related Expenses					$ 6,000

Note 1 - Significant Accounti18

Note 1 - Significant Accounting Policies - Fair Value of the Company's Investments by Type (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Amortized Cost	$ 87,473	$ 105,241
Accrued Interest	359	412
Gross Unrealized Gains		1
Gross Unrealized Losses	(452)	(244)
Estimated Fair Value	87,380	105,410
US Government Agencies Debt Securities [Member]
Amortized Cost	47,023	60,121
Accrued Interest	136	177
Gross Unrealized Gains
Gross Unrealized Losses	(204)	(122)
Estimated Fair Value	46,955	60,176
Corporate Debt Securities [Member]
Amortized Cost	33,465	34,021
Accrued Interest	199	203
Gross Unrealized Gains
Gross Unrealized Losses	(226)	(108)
Estimated Fair Value	33,438	34,116
Certificates of Deposit [Member]
Amortized Cost	6,985	11,099
Accrued Interest	24	32
Gross Unrealized Gains		1
Gross Unrealized Losses	(22)	(14)
Estimated Fair Value	$ 6,987	$ 11,118

Note 1 - Significant Accounti19

Note 1 - Significant Accounting Policies - Scheduled Maturity for the Company's Investments (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Maturing in one year or less	$ 53,636	$ 64,115
Maturing after one year through two years	33,744	34,257
Maturing after two years		7,038
Total investments	$ 87,380	$ 105,410

Note 1 - Significant Accounti20

Note 1 - Significant Accounting Policies- Summary of Receivables (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Receivables	$ 2,342	$ 6,117
Billed Revenues [Member]
Receivables	1,225	3,902
Unbilled Revenues [Member]
Receivables	1,117	2,215
US Department of Health and Human Services [Member]
Receivables	1,177	2,062
US Department of Health and Human Services [Member] | Billed Revenues [Member]
Receivables	87	42
US Department of Health and Human Services [Member] | Unbilled Revenues [Member]
Receivables	1,090	2,020
Shionogi and Co. Ltd [Member]
Receivables	27	1,600
Shionogi and Co. Ltd [Member] | Billed Revenues [Member]
Receivables	27	1,600
Shionogi and Co. Ltd [Member] | Unbilled Revenues [Member]
Receivables
Green Cross Corporation [Member]
Receivables	78	1,416
Green Cross Corporation [Member] | Billed Revenues [Member]
Receivables	51	1,388
Green Cross Corporation [Member] | Unbilled Revenues [Member]
Receivables	27	28
Mundipharma International Holdings Limited [Member]
Receivables	43	47
Mundipharma International Holdings Limited [Member] | Billed Revenues [Member]
Receivables	43	47
Mundipharma International Holdings Limited [Member] | Unbilled Revenues [Member]
Receivables
Seqirus UK Limited [Member]
Receivables	1,017	992
Seqirus UK Limited [Member] | Billed Revenues [Member]
Receivables	1,017	825
Seqirus UK Limited [Member] | Unbilled Revenues [Member]
Receivables		$ 167

Note 1 - Significant Accounti21

Note 1 - Significant Accounting Policies - Cumulative Effective Adopted Accounting Pronouncement (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Jan. 01, 2018	Dec. 31, 2017
Deferred collaboration expense	$ 12		$ 12		$ 152	$ 210
Deferred revenue	300		300		7,300	8,484
Accumulated deficit	(674,940)		(674,940)		(630,717)	$ (631,843)
Revenues	12,494	$ 3,099	16,470	$ 12,536
Research and development	21,010	15,759	39,451	32,529
Net loss	$ (18,446)	$ (16,886)	$ (44,223)	$ (31,105)
Basic and diluted net loss per common share (in dollars per share)	$ (0.19)	$ (0.21)	$ (0.45)	$ (0.40)
Accounting Standards Update 2014-09 [Member]
Deferred collaboration expense					(58)
Deferred revenue					(1,184)
Accumulated deficit					$ 1,126
Difference between Revenue Guidance in Effect before and after Topic 606 [Member]
Deferred collaboration expense	$ 29		$ 29
Deferred revenue	592		592
Accumulated deficit	563		563
Research and development	14		29
Net loss	$ 282		$ 563
Basic and diluted net loss per common share (in dollars per share)	$ 0.01		$ 0.01
Calculated under Revenue Guidance in Effect before Topic 606 [Member]
Deferred collaboration expense	$ 41		$ 41
Deferred revenue	892		892
Accumulated deficit	(674,377)		(674,377)
Research and development	21,024		39,480
Net loss	$ (18,164)		$ (43,660)
Basic and diluted net loss per common share (in dollars per share)	$ (0.18)		$ (0.44)
Collaborative and Other Research and Development [Member]
Revenues	$ 12,352	$ 2,610	$ 12,667	$ 5,726
Collaborative and Other Research and Development [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member]
Revenues	296		592
Collaborative and Other Research and Development [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member]
Revenues	$ 12,648		$ 13,259

Note 1 - Significant Accounti22

Note 1 - Significant Accounting Policies - Summary of Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenues	$ 12,494	$ 3,099	$ 16,470	$ 12,536
Royalty [Member]
Revenues	142	489	3,803	6,810
Collaborative and Other Research and Development [Member]
Revenues	12,352	2,610	12,667	5,726
Collaborative and Other Research and Development [Member] | US Department of Health and Human Services [Member]
Revenues	352	2,161	667	2,815
Collaborative and Other Research and Development [Member] | Shionogi and Co. Ltd [Member]
Revenues		296		592
Collaborative and Other Research and Development [Member] | Seqirus UK Limited [Member]
Revenues	$ 12,000	$ 153	$ 12,000	$ 2,319

Note 2 - Stock-based Compensa23

Note 2 - Stock-based Compensation (Details Textual) $ / shares in Units, shares in Thousands, $ in Thousands	1 Months Ended	3 Months Ended	6 Months Ended		12 Months Ended
	Aug. 31, 2013shares	Mar. 31, 2018shares	Jun. 30, 2018USD ($)$ / sharesshares	Jun. 30, 2017USD ($)$ / shares	Dec. 31, 2014shares	Dec. 31, 2017shares
Number of Stock-based Compensation Plans			2
Allocated Share-based Compensation Expense, Total			$ 4,987	$ 4,788
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total			14,509
Employee Service Share-based Compensation Nonvested Awards Compensation Cost Expected to be Recognized For Remainder of Fiscal Year			3,927
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Expected to be Recognized Year Two			5,845
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Expected to be Recognized Year Three			3,363
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Expected to be Recognized Year Four			1,372
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Expected to be Recognized Year Five			2
Incentive Plan [Member]
Allocated Share-based Compensation Expense, Total			$ 4,904	$ 4,652
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares			$ 4.13	$ 3.74
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate			0.00%
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | shares			329			468
Incentive Plan [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate			0.00%
Incentive Plan [Member] | Employee Stock Option [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term			5 years
Incentive Plan [Member] | Employee Stock Option [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term			10 years
Incentive Plan [Member] | Employee Stock Option [Member] | Non-employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award, First Vesting Period After Grant Date			1 year
Incentive Plan [Member] | Employee Stock Option [Member] | Vest 25% Each Year Until Fully Vested [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage			25.00%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			4 years
Incentive Plan [Member] | Performance Shares [Member]
Allocated Share-based Compensation Expense, Total			$ 0
Incentive Plan [Member] | Performance Shares [Member] | Vest Upon Successful Completion of Specific Development Milestones [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares	1,032				1,250
Incentive Plan [Member] | Performance Shares [Member] | Vest Upon Successful Completion of Specific Development Milestones [Member] | August 2013 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage			75.00%
Share-based Compensation Arrangement by Shar-based Payment Award, Awards Unvested, Percentage			25.00%
Incentive Plan [Member] | Performance Shares [Member] | Vest Upon Successful Completion of Specific Development Milestones [Member] | December 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage			30.00%
Share-based Compensation Arrangement by Shar-based Payment Award, Awards Unvested, Percentage			70.00%
Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance | shares			27
Employee Stock Purchase Plan [Member]
Allocated Share-based Compensation Expense, Total			$ 83	$ 136
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | shares			1,475
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | shares			277
Percentage of Salary to Purchase Common Stock, Maximum			15.00%
Percentage of Common Stock Shares, Beginning			85.00%
Percentage of Common Stock Shares, Ending			85.00%
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Number of Shares Per Employee | shares			3
Shar-based Compensation Arrangement by Shar-based Payment Award, Maximum Number of Shares Per Employee, Amount			$ 25
Stock Issued During Period, Shares, Employee Stock Purchase Plans | shares		49

Note 2 - Stock-based Compensa24

Note 2 - Stock-based Compensation - Stock Incentive Plan Activities (Details) - Incentive Plan [Member] shares in Thousands	6 Months Ended
	Jun. 30, 2018$ / sharesshares
Awards available, beginning balance (in shares)	468
Options outstanding, beginning balance (in shares)	14,452
Weighted average exercise price, beginning balance (in dollars per share) | $ / shares	$ 6.06
Awards available, restricted stock awards granted (in shares)	(10)
Awards available, restricted stock awards cancelled (in shares)
Awards available, stock option awards granted (in shares)	(222)
Options outstanding, stock option awards granted (in shares)	222
Weighted average exercise price, stock option awards granted (in dollars per share) | $ / shares	$ 6
Options outstanding, stock option awards exercised (in shares)	(372)
Weighted average exercise price, stock option awards exercised (in dollars per share) | $ / shares	$ 2.68
Awards available, stock option awards cancelled (in shares)	93
Options outstanding, stock option awards cancelled (in shares)	(93)
Weighted average exercise price, stock option awards cancelled (in dollars per share) | $ / shares	$ 5.71
Awards available, ending balance (in shares)	329
Options outstanding, ending balance (in shares)	14,209
Weighted average exercise price, ending balance (in dollars per share) | $ / shares	$ 6.15

Note 2 - Stock-based Compensa25

Note 2 - Stock-based Compensation - Weighted Average Assumptions for Stock Option Awards Granted to Employees and Directors Under the Incentive Plan (Details) - Incentive Plan [Member]	6 Months Ended
	Jun. 30, 2018
Expected Life (Year)	5 years 182 days
Expected Volatility	82.00%
Expected Dividend Yield	0.00%
Risk-Free Interest Rate	2.70%

Note 3 - Collaborative and Ot26

Note 3 - Collaborative and Other Research and Development Contracts (Details Textual) - USD ($) $ in Thousands	Jun. 16, 2015	Feb. 28, 2006	Sep. 30, 2013	Jun. 30, 2006	Jun. 30, 2000	Jun. 30, 2018	Jun. 30, 2018	Mar. 31, 2015
CSL Limited [Member
Proceeds from License Fees Received	$ 33,740
Milestone Payment Received	7,000
Milestone Payment Maximum	$ 5,000
Royalty Term	10 years
National Institute of Allergy and Infectious Diseases [Member]
Collaborative Agreement Contract Value			$ 5,000
Expected Receivable From Awards for Research and Development Contracts						$ 39,477
UAB [Member]
Period of Agreement						25 years
Renewable Period of Agreement						5 years
Base Contract [Member]
Government Contract Receivable								$ 16,265
Additional Development Options [Member]
Government Contract Receivable								22,855
ASPRBARDA Contract [Member]
Government Contract Receivable								$ 39,120
Proceeds from awards for Research and Development Contracts							$ 20,574
Green Cross Corporation [Member]
Proceeds from License Fees Received				$ 250
Mundipharma [Member]
Upfront Payments Receivable Amount		$ 10,000
AECOM and IRL [Member]
Milestone Payment Maximum					$ 4,000
Milestone Payment Minimum					1,400
Annual License Fee Minimum					150
Annual License Fee Maximum					$ 500
Advance Notice Period for Termination of Agreement					60 days

Note 4 - Royalty Monetization (

Note 4 - Royalty Monetization (Details Textual) $ in Thousands	May 18, 2016USD ($)	Mar. 09, 2011USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)	Dec. 31, 2017USD ($)	May 18, 2016JPY (¥)
Currency Hedge Agreement [Member]
Collateral Already Posted, Aggregate Fair Value			$ 0		$ 0
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member]
Derivative, Loss on Derivative			$ 1,186	$ 1,943
PhaRMA Notes Member] | Currency Hedge Agreement [Member]
Payments for (Proceeds from) Hedge, Investing Activities, Total	$ 1,950
Required Foreign Currency Hedge Per Dollar | ¥						¥ 100
PhaRMA Notes Member] | Japan, Yen | Currency Hedge Agreement [Member]
Derivative, Forward Exchange Rate			100
JPR Royalty Sub LLC [Member] | PhaRMA Notes Member]
Private Placement of Senior Secured Notes		$ 30,000
Debt Instrument, Interest Rate, Stated Percentage		14.00%
Percentage of Carrying Amount in Excess of Fair Value			50.00%
JPR Royalty Sub LLC [Member] | PhaRMA Notes Member] | Currency Hedge Agreement [Member]
Collateral Already Posted, Aggregate Fair Value			$ 0		$ 0
Maximum Amount of Collateral Required to Post			3,900
JPR Royalty Sub LLC [Member] | PhaRMA Notes Member] | Fair Value, Inputs, Level 2 [Member]
Notes Payable, Fair Value Disclosure			$ 30,000
JPR Royalty Sub LLC [Member] | Royalty Monetization [Member]
Debt Instrument, Face Amount		$ 30,000
Proceeds from Issuance of Secured Debt		22,691
Transaction Costs		4,309
Interest Reserve		$ 3,000

Note 5 - Senior Credit Facili28

Note 5 - Senior Credit Facility (Details Textual) - USD ($) $ in Thousands	Jul. 20, 2018	Sep. 23, 2016	Jun. 30, 2018	Dec. 31, 2017
Long-term Line of Credit, Total			$ 13,469	$ 16,750
MidCap Financial Services, LLC [Member] | Senior Credit Facility [Member]
Long-term Line of Credit, Total		$ 23,000	$ 19,550
Debt Instrument, Minimum LIBOR		0.50%
Debt Instrument, Term		3 years 120 days
Debt Instrument, Final Payment Fee, Percentage		5.00%
Line of Credit Facility, Interest Rate at Period End			10.00%
MidCap Financial Services, LLC [Member] | Senior Credit Facility [Member] | Subsequent Event [Member]
Debt Instrument, Minimum LIBOR	0.50%
Debt Instrument, Term	2 years 180 days
MidCap Financial Services, LLC [Member] | Senior Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		8.00%
MidCap Financial Services, LLC [Member] | Senior Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Subsequent Event [Member]
Debt Instrument, Basis Spread on Variable Rate	8.00%
MidCap Financial Services, LLC [Member] | Amended and Restated Senior Credit Facility [Member] | Subsequent Event [Member]
Long-term Line of Credit, Total	$ 7,000

Note 5 - Senior Credit Facili29

Note 5 - Senior Credit Facility - Scheduled Principal Repayments of the Credit Facility (Details) $ in Thousands	Jun. 30, 2018USD ($)
2,018	$ 3,450
2,019	6,900
2,020	6,900
2,021	2,300
Total	$ 19,550

Note 6 - Stockholders' Equity (

Note 6 - Stockholders' Equity (Details Textual) $ in Billions	Nov. 08, 2017USD ($)
Maximum Aggregate Offering Price	$ 0.2

Note 7 - Subsequent Event (Deta

Note 7 - Subsequent Event (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	Aug. 06, 2018	Jul. 20, 2018	Sep. 23, 2016	Jun. 30, 2018	Jun. 30, 2017	Jul. 10, 2018
Proceeds from Issuance of Common Stock					$ 47,750
MidCap Financial Services, LLC [Member] | Senior Credit Facility [Member]
Debt Instrument, Minimum LIBOR			0.50%
Debt Instrument, Term			3 years 120 days
MidCap Financial Services, LLC [Member] | Senior Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate			8.00%
Subsequent Event [Member]
Business Combination, Agreement Terminated, Expected Transaction-related Expenses						$ 6,000
Stock Issued During Period, Shares, New Issues	10,454,546
Shares Issued, Price Per Share	$ 5.50
Proceeds from Issuance of Common Stock	$ 53,400
Subsequent Event [Member] | MidCap Financial Services, LLC [Member] | Senior Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 30,000
Debt Instrument, Minimum LIBOR		0.50%
Debt Instrument, Term		2 years 180 days
Subsequent Event [Member] | MidCap Financial Services, LLC [Member] | Senior Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		8.00%