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Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Dec. 31, 2014	Jan. 31, 2015	Jun. 30, 2014
Document and Entity Information [Abstract]
Entity Registrant Name	BIOCRYST PHARMACEUTICALS INC
Document Type	10-K
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		72,320,136
Entity Public Float			$ 903,002,038
Amendment Flag	false
Entity Central Index Key	0000882796
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Well-known Seasoned Issuer	Yes
Document Period End Date	Dec. 31, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013
Collaboration Receivables [Member]
ASSETS
Receivables	$ 3,849	$ 2,115
Trade Accounts Receivable [Member]
ASSETS
Receivables	5,641
Deferred Collaborative Revenue [Member]
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deferred revenue	1,481	1,473
Deferred Product Sales [Member]
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deferred revenue	5,605
Cash and cash equivalents	54,540	21,164
Restricted cash	150	151
Investments	18,232	16,891
Inventory	683
Prepaid expenses and other current assets	6,172	1,725
Deferred collaboration expense	76	75
Total current assets	89,343	42,121
Investments	41,116	2,582
Furniture and equipment, net	207	306
Deferred collaboration expense	177	237
Other assets	6,031	3,620
Total assets	136,874	48,866
Accounts payable	2,849	4,174
Accrued expenses	11,723	5,742
Interest payable	6,029	3,867
Non-recourse notes payable	30,000	0
Total current liabilities	57,687	15,256
Deferred collaboration revenue	3,552	4,736
Non-recourse notes payable	0	30,000
Stockholders’ equity:
Preferred stock, $0.001 par value; shares authorized — 5,000; no shares outstanding	0	0
Common stock, $0.01 par value; shares authorized — 200,000; shares issued and outstanding — 71,955 in 2014 and 59,092 in 2013	720	591
Additional paid-in capital	542,943	420,988
Accumulated other comprehensive (loss) income	(130)	4
Accumulated deficit	(467,898)	(422,709)
Total stockholders’ equity (deficit)	75,635	(1,126)
Total liabilities and stockholders’ equity	$ 136,874	$ 48,866

Consolidated Balance Sheets (Parentheticals) - $ / shares shares in Thousands	Dec. 31, 2014	Dec. 31, 2013
Preferred stock par value (in Dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000	5,000
Preferred stock, shares outstanding	0	0
Common stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	200,000	200,000
Common stock, shares issued	71,955	59,092
Common stock, shares outstanding	71,955	59,092

Consolidated Statements of Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Revenues
Product sales, net	$ 33
Royalty revenue	3,025	$ 2,562	$ 3,317
Collaborative and other research and development	10,550	14,769	22,976
Total revenues	13,608	17,331	26,293
Expenses
Cost of products sold	1
Research and development	51,796	41,943	49,160
General and administrative	7,461	6,007	9,130
Royalty	121	98	132
Restructuring		(97)	1,759
Total operating expenses	59,379	48,048	60,181
Loss from operations	(45,771)	(30,717)	(33,888)
Interest and other income	93	93	222
Interest expense	(4,998)	(4,778)	(4,666)
Gain (loss) on foreign currency derivative	5,487	5,294	(749)
Net loss	$ (45,189)	$ (30,108)	$ (39,081)
Basic and diluted net loss per common share (in Dollars per share)	$ (0.68)	$ (0.55)	$ (0.79)
Weighted average shares outstanding (in Shares)	66,773	55,216	49,474
Unrealized loss on available for sale investments	$ (134)	$ (23)	$ (13)
Comprehensive loss	$ (45,323)	$ (30,131)	$ (39,094)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Operating activities:
Net loss	$ (45,189)	$ (30,108)	$ (39,081)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation, amortization, and impairment	177	304	628
Loss (gain) on disposal of furniture and equipment	27	(47)
Stock-based compensation expense	10,177	4,368	4,167
Amortization of debt issuance costs	439	439	439
Change in fair value of foreign currency derivative	(5,487)	(5,294)	749
Changes in operating assets and liabilities:
Receivables	(7,375)	2,447	1,269
Inventory	(683)		263
Prepaid expenses and other assets	(1,943)	(620)	(623)
Deferred collaboration expense	59	5,133	2,301
Accounts payable and accrued expenses	6,818	(2,049)	2,068
Deferred revenue	4,429	(1,103)	(9,577)
Net cash used in operating activities:	(38,551)	(26,530)	(37,397)
Investing activities:
Acquisition of furniture and equipment	(106)	(30)	(113)
Proceeds from sale of furniture and equipment		50
Change in restricted cash	1	157	317
Purchases of investments	(73,875)	(23,974)	(16,153)
Sales and maturities of investments	34,000	20,330	40,833
Net cash (used in) provided by investing activities:	(39,980)	(3,467)	24,884
Financing activities:
Sale of common stock, net	106,600	23,633	17,805
Exercise of stock options	4,997	1,333	534
Employee stock purchase plan sales	310	124	321
Receipt (payment) of foreign currency derivative collateral		5,180	(1,700)
Net cash provided by financing activities:	111,907	30,270	16,960
Increase in cash and cash equivalents	33,376	273	4,447
Cash and cash equivalents at beginning of year	21,164	20,891	16,444
Cash and cash equivalents at end of year	$ 54,540	$ 21,164	$ 20,891

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]	Total
Balance at December 31 at Dec. 31, 2011	$ 457	$ 367,829	$ 40	$ (353,520)	$ 14,806
Net loss				(39,081)	(39,081)
Other comprehensive loss			(13)		(13)
Exercise of stock options,	3	536			539
Employee stock purchase plan sales,	1	320			321
Issuance of common stock,	48	18,759			18,807
Stock-based compensation expense		4,167			4,167
Balance at December 31 at Dec. 31, 2012	509	391,611	27	(392,601)	(454)
Net loss				(30,108)	(30,108)
Other comprehensive loss			(23)		(23)
Exercise of stock options,	6	1,327			1,333
Employee stock purchase plan sales,	1	123			124
Issuance of common stock,	75	23,559			23,634
Stock-based compensation expense		4,368			4,368
Balance at December 31 at Dec. 31, 2013	591	420,988	4	(422,709)	(1,126)
Net loss				(45,189)	(45,189)
Other comprehensive loss			(134)		(134)
Exercise of stock options,	13	4,984			4,997
Employee stock purchase plan sales,	1	309			310
Issuance of common stock,	115	106,485			106,600
Stock-based compensation expense		10,177			10,177
Balance at December 31 at Dec. 31, 2014	$ 720	$ 542,943	$ (130)	$ (467,898)	$ 75,635

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Consolidated Statements of Stockholders' Equity (Parentheticals) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Common Stock [Member]
Exercise of stock options, shares	1,314	563	348
Employee stock purchase plan sales, shares	49	89	110
Issuance of common stock, shares	11,500	7,547	4,774
Exercise of stock options, shares	(1,258)	(563)	(350)
Issuance of common stock, shares		2,883	4,516

Note 1 - Significant Accounting Policies and Concentrations of Risk

12 Months Ended

Dec. 31, 2014

Accounting Policies [Abstract]

Significant Accounting Policies [Text Block]

Note 1 — Significant Accounting Policies and Concentrations of Risk

The Company

BioCryst Pharmaceuticals, Inc. (the “Company”) 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 the treatment of rare diseases in which significant unmet medical needs exist and align with its capabilities and expertise. The Company was incorporated in Delaware in 1986 and its headquarters is located in Durham, North Carolina. The Company integrates the disciplines of biology, crystallography, medicinal chemistry and computer modeling to discover and develop small molecule pharmaceuticals through the process known as structure-guided drug design. BioCryst has incurred losses and negative cash flows from operations since inception.

In the fourth quarter of 2012, the Company implemented a restructuring plan to significantly reduce its cost structure. Based on its current operating plans, the Company expects it has sufficient liquidity, with its existing cash and investments of $114,038, to continue its planned operations through the middle of 2016. The Company’s liquidity needs, and ability to address those needs, will largely be determined by the success of its product candidates and key development and regulatory events in the future. In order to continue its operations substantially beyond the middle of 2016 it will need to: (1) successfully secure or increase U.S. Government funding of its programs, including procurement contracts; (2) out-license rights to certain of its product candidates, pursuant to which the Company would receive cash milestones; (3) raise additional capital through equity or debt financings or from other sources; (4) obtain product candidate regulatory approvals, which would generate revenue and cash flow; (5) reduce spending on one or more research and development programs; and/or (6) restructure operations. Additionally, the Company retains the ability to offer for sale approximately $10,000 of securities, including common stock, preferred stock, debt securities, depositary shares and securities warrants from its effective shelf registration statement, which it filed with the Securities and Exchange Commission on November 6, 2013. The Company will continue to incur operating losses and negative cash flows until revenues reach a level sufficient to support ongoing operations.

Basis of Presentation

Beginning in March 2011, the consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, JPR Royalty Sub LLC (“Royalty Sub”). Royalty Sub was formed in connection with a $30,000 financing transaction the Company completed on March 9, 2011. See Note 3, Royalty Monetization, for a further description of this transaction. All intercompany transactions and balances have been eliminated.

The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States. Such consolidated financial statements reflect all adjustments that are, in management’s opinion, necessary to present fairly, in all material respects, the Company’s consolidated financial position, results of operations, and cash flows. There were no adjustments other than normal recurring adjustments.

Cash and Cash Equivalents

The Company generally considers cash equivalents to be all cash held in commercial checking accounts, money market accounts or investments in debt instruments with maturities of three months or less at the time of purchase. The carrying value of cash and cash equivalents approximates fair value due to the short-term nature of these items.

Restricted Cash

Restricted cash as of December 31, 2014 and December 31, 2013 includes $150 that the Company is required to maintain in an interest bearing certificate of deposit to serve as collateral for a corporate credit card program. At December 31, 2013, there is also $1 for royalty receipts received from Shionogi & Co. Ltd. (“Shionogi”) designated for interest on the PhaRMA Notes (see Note 3).

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 consist of U.S. Government and government agency securities, money market and mutual fund investments, municipal and corporate notes and bonds, commercial paper and asset or mortgage-backed securities, among others. The Company’s investment policy requires it to purchase high-quality marketable securities with a maximum individual maturity of three years and requires an average portfolio maturity of no more than 18 months. Some of the securities the Company invests in may have market risk. This means that a change in prevailing interest rates may cause the principal amount of the investment to fluctuate. To minimize this risk, the Company schedules its investments with maturities that coincide with expected cash flow needs, thus avoiding the need to redeem an investment prior to its maturity date. Accordingly, the Company does not believe it has a material exposure to interest rate risk arising from its investments. Generally, the Company’s investments are not collateralized. The Company has not realized any significant losses from its investments.

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 be recoverable. The Company believes the individual unrealized losses represent temporary declines primarily resulting from interest rate changes. Realized gains and losses are reflected in interest and other income in the Consolidated Statements of Comprehensive Loss and are determined using the specific identification method with transactions recorded on a settlement date basis. Investments with original maturities at date of purchase beyond three months and which mature at or less than 12 months from the balance sheet date are classified as current. Investments with a maturity beyond 12 months from the balance sheet date are classified as long-term. At December 31, 2014, the Company believes that the costs of its investments are recoverable in all material respects.

The following tables summarize the fair value of the Company’s investments by type. The estimated fair value of the Company’s fixed income investments are classified as Level 2 in the fair value hierarchy as defined in U.S. GAAP. These valuations are based on observable direct and indirect inputs, primarily quoted prices of similar, but not identical, instruments in active markets or quoted prices for identical or similar instruments in markets that are not active. These fair values are obtained from independent pricing services which utilize Level 2 inputs.

	December 31, 2014
	Amortized Cost		Accrued Interest		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Obligations of U.S. Government and its agencies	$	20,307	$	22	$	—	$	(23	)	$	20,306
Corporate debt securities		27,152		151		5		(47	)		27,261
Certificates of deposit		11,838		6		—		(63	)		11,781
Total investments	$	59,297	$	179	$	5	$	(133	)	$	59,348

	December 31, 2013
	Amortized Cost		Accrued Interest		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Obligations of U.S. Government and its agencies	$	4,899	$	1	$	1	$	—		$	4,901
Corporate debt securities		8,528		47		2		(1	)		8,576
Commercial paper		5,994		—		2		—			5,996
Total investments	$	19,421	$	48	$	5	$	(1	)	$	19,473

The following table summarizes the scheduled maturity for the Company’s investments at December 31, 2014 and 2013.

	2014		2013
Maturing in one year or less	$	18,232	$	16,891
Maturing after one year through two years		25,459		2,582
Maturing after two years		15,657		—
Total investments	$	59,348	$	19,473

Receivable 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 or royalty receivables from Shionogi & Co. Ltd. These receivables are evaluated to determine if any reserve or allowance should be established at each reporting date. At December 31, 2014 and 2013, the Company had the following receivables.

	December 31, 2014
	Billed		Unbilled		Total
U.S. Department of Health and Human Services	$	—	$	2,778	$	2,778
Shionogi & Co. Ltd.		1,071		—		1,071
Total receivables	$	1,071	$	2,778	$	3,849

	December 31, 2013
	Billed		Unbilled		Total
U.S. Department of Health and Human Services	$	90	$	1,573	$	1,663
Shionogi & Co. Ltd.		452		—		452
Total receivables	$	542	$	1,573	$	2,115

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. There receivables are evaluated to determine if any reserve or allowance should be established at each reporting date.

Inventory

At December 31, 2014 and 2013, the Company’s inventory consisted of RAPIVAB finished goods inventory and work in process. Inventory is stated at the lower of cost, determined under the first-in, first-out (“FIFO”) method, or market. The Company expenses costs related to the production of inventories as research and development expenses in the period incurred until such time it is believed that future economic benefit is expected to be recognized, which generally is reliant upon receipt of regulatory approval. Upon regulatory approval, the Company will capitalize subsequent costs related to the production of inventories.

During 2014, in connection with the FDA approval of RAPIVAB, the Company began capitalizing costs associated with the production of RAPIVAB inventories.

The Company’s inventory consisted of the following:

	As of December 31,
	2014		2013
Supplies	$	—	$	263
Work in process		267		—
Finished goods		416		3,980
Reserve for finished goods and supplies		—		(4,243	)
Net inventories	$	683	$	—

Furniture and Equipment

Furniture and equipment are recorded at cost. Depreciation is computed using the straight-line method with estimated useful lives of five and seven years. Laboratory equipment, office equipment, and software are depreciated over a life of five years. Furniture and fixtures are depreciated over a life of seven years. Leasehold improvements are amortized over their estimated useful lives or the remaining lease term, whichever is less.

In accordance with generally accepted accounting principles, the Company periodically reviews its furniture and equipment for impairment when events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Determination of recoverability is based on an estimate of undiscounted future cash flows resulting from the use of the asset and its eventual disposition. In the event that such cash flows are not expected to be sufficient to recover the carrying amount of the assets, the assets are written down to their estimated fair values. Furniture and equipment to be disposed of are reported at the lower of carrying amount or fair value less cost to sell.

Patents and Licenses

The Company seeks patent protection on all internally developed processes and products. All patent related costs are expensed to general and administrative expenses when incurred as recoverability of such expenditures is uncertain.

Accrued Expenses

The Company generally enters into contractual agreements with third-party vendors who provide research and development, manufacturing, and other services in the ordinary course of business. Some of these contracts are subject to milestone-based invoicing and services are completed over an extended period of time. The Company records liabilities under these contractual commitments when it determines an obligation has been incurred, regardless of the timing of the invoice. This process involves reviewing open contracts and purchase orders, communicating with applicable Company personnel to identify services that have been performed on its behalf and estimating the level of service performed and the associated cost incurred for the service when the Company has not yet been invoiced or otherwise notified of actual cost. The majority of service providers invoice the Company monthly in arrears for services performed. The Company makes estimates of accrued expenses as of each balance sheet date in its financial statements based on the facts and circumstances. The Company periodically confirms the accuracy of its estimates with the service providers and makes adjustments if necessary. Examples of estimated accrued expenses include:

•

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 our 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 result in uneven payment flows. Payments under some of these contracts depend on factors such as the successful enrollment of patients and the completion of clinical trial milestones. In accruing service fees, the Company estimates the time period over which services will be performed and the level of effort expended in each period. If the actual timing of the performance of services or the level of effort varies from the estimate, the Company will adjust the accrual accordingly.

Accrued expenses were comprised of the following:

	December 31,
	2014		2013
Compensation and benefits	$	2,105	$	1,527
Development costs		4,232		2,210
Inventory		397		-
Professional fees		238		48
Duties and taxes		75		90
Other		4,676		1,867
	$	11,723	$	5,742

As of December 31, 2014 and 2013, the carrying value of accrued expenses approximates their fair value due to their short-term settlement.

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.

Accumulated Other Comprehensive (Loss) Income

Accumulated other comprehensive (loss) income is comprised of unrealized gains and losses on investments available-for-sale and is disclosed as a separate component of stockholders’ equity.

Revenue Recognition

The Company recognizes revenues from collaborative and other research and development arrangements and product sales when realized or realizable and earned. Revenue is realized or realizable and earned when all of the following criteria are met: (i) persuasive evidence of an arrangement exists; (ii) delivery has occurred or services have been rendered; (iii) the seller’s price to the buyer is fixed or determinable; and (iv) collectability is reasonably assured.

Collaborative and Other Research and Development Arrangements and Royalties

Revenue from license fees, royalty payments, event payments, and research and development fees are recognized as revenue when the earnings process is complete and the Company has no further continuing performance obligations or the Company has completed the performance obligations under the terms of the agreement. Fees received under licensing agreements that are related to future performance are deferred and recognized over an estimated period determined by management based on the terms of the agreement and the products licensed. In the event a license agreement contains multiple deliverables, the Company evaluates whether the deliverables are separate or combined units of accounting. Revisions to revenue or profit estimates as a result of changes in the estimated revenue period are recognized prospectively.

Under certain of our license agreements, the Company receives royalty payments based upon our licensees’ net sales of covered products. The Company recognizes royalty revenues when it can reliably estimate such amounts and collectability is reasonably assured.

Royalty revenue paid by Shionogi on their product sales is subject to returns. Prior to the third quarter of 2012, the Company did not have sufficient historical experience to reasonably estimate product returns and therefore could not reasonably record the underlying revenue. Up to the second quarter of 2012, the Company deferred recognition of all RAPIACTA® royalty revenue from Shionogi sales. During the third quarter of 2012, and after the completion of the 2011/2012 flu season in Japan, the Company obtained sufficient historical information to reasonably estimate product returns and recognized royalty revenue of $2,848, net of an allowance for estimated returns. During the fourth quarter of 2012, the Company recognized royalty revenue of $469, for a total of $3,317 in 2012.

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. Event payments are recognized as revenue upon the achievement of specified events if (1) the event is substantive in nature and the achievement of the event was not reasonably assured at the inception of the agreement and (2) the fees are non-refundable and non-creditable. Any event payments received prior to satisfying these criteria are recorded as deferred revenue. Under the Company’s contracts with BARDA/HHS and NIAID/HHS, revenue is recognized as reimbursable direct and indirect costs are incurred.

Product Sales

The Company recognizes revenue for sales of RAPIVAB when title and substantially all the risks and rewards of ownership have transferred to the customer, which generally occurs on the date of shipment from our specialty distributors, utilizing the Sell-Through revenue recognition methodology. Product sales are recognized when there is persuasive evidence that an arrangement exists, title has passed, the price was fixed and determinable, and collectability is reasonably assured. Product sales are recognized net of estimated allowances, discounts, sales returns, chargebacks and rebates. In the United States, the Company sells RAPIVAB to specialty distributors, who in turn, sell to physician offices, hospitals and federal, state and commercial health care organizations.

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 to 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 utilizes data from external sources to help it estimate gross-to-net sales adjustments as they relate to the recognition of revenue for RAPIVAB sold. External sourced data includes, but is not limited to, information obtained from specialty distributors with respect to their inventory levels and their sell-through to customers, as well as information from third-party suppliers of market research data to the pharmaceutical industry.

The Company accounts for these sales deductions in accordance with authoritative guidance on revenue recognition when consideration is given by a vendor to a customer.

The Company has categorized and described more fully the following significant sales deductions, all of which involve estimates and judgments, which the Company considers to be critical accounting estimates, and requires it to use information from external sources.

Rebates and Chargebacks

Statutory rebates to state Medicaid agencies and Medicare are based on statutory discounts to RAPIVAB’s selling price. As it can take up to nine months or more for information to be received on actual usage of RAPIVAB in Medicaid and other governmental programs, the Company maintains reserves for amounts payable under these programs relating to RAPIVAB sales.

Chargebacks claimed by specialty distributors are based on the differentials between product acquisition prices paid by the specialty distributors and lower government contract pricing paid by eligible customers covered under federally qualified programs.

The amount of the reserve for rebates and chargebacks is based on multiple qualitative and quantitative factors, including the historical and projected utilization levels, historical payment experience, changes in statutory laws and interpretations as well as contractual terms, product pricing (both normal selling prices and statutory or negotiated prices), changes in prescription demand patterns and utilization of the Company’s product through public benefit plans, and the levels of RAPIVAB inventory in the distribution channel. The Company acquires prescription utilization data from third-party suppliers of market research data to the pharmaceutical industry. The Company updates its estimates and assumptions each period and records any necessary adjustments to its reserves. Settlements of rebates and chargebacks typically occur within nine months from point of sale. To the extent actual rebates and chargebacks differ from the Company’s estimates, additional reserves may be required or reserves may need to be reversed, either of which would impact current period product revenue.

Discounts and Sales Incentives

Discounts and other sales incentives primarily consist of Inventory Management Agreement (“IMA”) Fees. Per contractual agreements with the Company’s specialty distributors, the Company provides an IMA fee based on a percentage of their purchases of RAPIVAB. The IMA fee rates are set forth in individual contracts. The Company tracks sales to these distributors each period and accrues a liability relating to the unpaid portion of these fees by applying the contractual rates to such product sales.

Product Returns

The Company does not record a product return allowance as it does not offer the ability to return goods once a bonafide shipment has been accepted by a specialty distributor.

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. Advertising and product promotion expenses were $290 for the year ended December 31, 2014.

The Company recorded the following revenues for the years ended December 31:

	2014		2013		2012
Product sales, net	$	33	$	—	$	—
Royalty revenue		3,025		2,562		3,317
Collaborative and other research and development revenues:
U.S. Department of Health and Human Services		9,366		13,585		14,026
Shionogi (Japan)		1,184		1,184		1,184
Mundipharma (United Kingdom)		—		—		7,766
Total collaborative and other research and development revenues		10,550		14,769		22,976
Total revenues	$	13,608	$	17,331	$	26,293

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-party CROs. Costs for studies performed by CROs are accrued by the Company over the service periods specified in the contracts and estimates are adjusted, if required, based upon the Company’s on-going review of the level of services actually performed.

Additionally, the Company has license agreements with third parties, such as Albert Einstein College of Medicine of Yeshiva University (“AECOM”), Industrial Research, Ltd. (“IRL”), and the University of Alabama at Birmingham (“UAB”), which require fees related to sublicense agreements or maintenance fees. The Company expenses sublicense payments as incurred unless they are related to revenues that have been deferred, in which case the expenses are deferred and recognized over the related revenue recognition period. The Company expenses maintenance payments as incurred.

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 our academic partners for modification to existing license agreements. These deferred expenses would not have been incurred without receipt of such payments or modifications from the Company’s commercial partners and are being expensed in proportion to the related revenue being recognized. The Company believes that this accounting treatment appropriately matches expenses with the associated revenue.

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.

Interest Expense and Deferred Financing Costs

Interest expense for the years ended December 31, 2014, 2013 and 2012 was $4,998, $4,778 and $4,666, respectively, and relates to the issuance of the PhaRMA Notes. Costs directly associated with the issuance of the PhaRMA Notes have been capitalized and are included in other non-current assets on the Consolidated Balance Sheets. These costs are being amortized to interest expense over the term of the PhaRMA Notes using the effective interest rate method. Amortization of deferred financing costs included in interest expense was $439 for each of the years ended December 31, 2014, 2013 and 2012.

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 qualify for hedge accounting treatment; therefore mark to market adjustments are recognized in the Company’s Consolidated Statements of Comprehensive Loss. Cumulative mark to market adjustments for the years ended December 31, 2014 and 2013 resulted in gains of $5,487 and $5,294, respectively. Cumulative mark to market adjustments for the year ended December 31, 2012 resulted in a loss of $749. Mark to market adjustments are determined by a third party pricing model which uses quoted prices in markets that are not actively traded and for which significant inputs are observable directly or indirectly, representing Level 2 in the fair value hierarchy as defined by generally accepted accounting principles. The Company is also required to post collateral in connection with the mark to market adjustments based on defined thresholds. As of December 31, 2014 and December 31, 2013, no hedge collateral was posted under the agreement.

Restructuring Activities

During the fourth quarter of 2012, the Company announced a restructuring plan in response to setbacks in its development programs.

The following table sets forth activity in the restructuring liability for the years ended December 31, 2013 and 2012.

	Employee separation costs			Facilities related charges			Total
Balance at December 31, 2011	$	—		$	—		$	—
Accruals		1,662			97			1,759
Payments		(58	)		—			(58	)
Balance at December 31, 2012		1,604			97			1,701
Accruals		—			(97	)		(97	)
Payments		(1,604	)		—			(1,604	)
Balance at December 31, 2013	$	—		$	—		$	—

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, outstanding warrants, 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 years ended December 31, 2014, 2013, and 2012 does not include 5,279, 2,109 and 1,026 respectively, of potential common shares as their impact would be anti-dilutive.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“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

The Company relies primarily on three specialty distributors to purchase and supply the majority of RAPIVAB. These three pharmaceutical specialty distributors accounted for greater than 90% of all RAPIVAB product sales in the year ended December 31, 2014 and accounted for predominantly all of the Company’s outstanding receivables from product sales as of December 31, 2014. The loss of one or more of these specialty distributors as a customer could negatively impact the commercialization of RAPIVAB.

The Company’s primary source of revenue that has an underlying cash flow stream is the reimbursement of peramivir and BCX4430 development expenses, which was earned under a cost-plus-fixed-fee contracts with BARDA/HHS and NIAID/HHS, respectively. The Company relies on BARDA/HHS and NIAID/HHS to reimburse predominantly all of the development costs for its peramivir and BCX4430 programs. Accordingly, reimbursement of these expenses represents a significant portion of the Company’s collaborative and other research and development revenues. The completion, as with the June 30, 2014 BARDA/HHS peramivir development contract, or termination of the NIAID/HHS BCX4430 programs/collaboration could negatively impact the Company’s future Consolidated Statements of Comprehensive Loss and Cash Flows. In addition, the Company also recognizes royalty revenue from the net sales of RAPIACTA; however, the underlying cash flow from these royalty payments goes directly to pay the interest, and then the principal, on the Company’s non-recourse notes payable. Payment of the interest and the ultimate repayment of principal of these notes will be entirely funded by future royalty payments derived from net sales of RAPIACTA. The Company’s drug development activities are performed by a limited group of third party vendors. If any of these vendors were unable to perform their services, this could significantly impact the Company’s ability to complete its drug development activities.

Risks from Third Party Manufacturing and Distribution Concentration

The Company relies on single source manufacturers for API and finished product manufacturing of RAPIVAB. Additionally, the Company relies upon a single third party to provide warehousing and distribution services for RAPIVAB. Delays in the manufacture or distribution of any product could adversely impact the commercial revenue and future procurement stockpiling of RAPIVAB.

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 exceed the amount of insurance provided on such deposits. The Company believes it has established guidelines for investment of its excess cash relative to diversification and maturities that maintain safety and liquidity. To minimize the exposure due to adverse shifts in interest rates, the Company maintains a portfolio of investments with an average maturity of approximately 18 months or less. Other than product sale receivables discussed above, the majority of the Company’s receivables from collaborations are due from the U.S. Government, for which there is no assumed credit risk.

Note 2 - Furniture and Equipment

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

Note 2 — Furniture and Equipment

Furniture and equipment consisted of the following at December 31:

	2014			2013
Furniture and fixtures	$	542		$	600
Office equipment		1,115			1,266
Software		1,423			1,448
Laboratory equipment		5,786			5,721
Leased equipment		63			63
Leasehold improvements		5,303			5,316
		14,232			14,414
Less accumulated depreciation and amortization		(14,025	)		(14,108	)
Furniture and equipment, net	$	207		$	306

Depreciation and amortization expense for the years ended December 31, 2014, 2013 and 2012 was $177, $304 and $628, respectively.

Note 3- Royalty Monetization

12 Months Ended

Dec. 31, 2014

Royalty Monetization [Abstract]

Royalty Monetization [Text Block]

Note 3— Royalty Monetization

Overview

On March 9, 2011, the Company completed a $30,000 financing transaction to monetize certain future royalty and milestone payments under the Shionogi Agreement, pursuant to which Shionogi licensed from the Company the rights to market RAPIACTA in Japan and, if approved for commercial sale, Taiwan. The Company received net proceeds of $22,691 from the transaction after transaction costs of $4,309 and the establishment of a $3,000 interest reserve account by Royalty Sub, available to help cover interest shortfalls in the future. All of the interest reserve account has been fully utilized with the September 2012 interest payment.

As part of the transaction, the Company entered into a purchase and sale agreement dated as of March 9, 2011 with Royalty Sub, whereby the Company transferred to Royalty Sub, among other things, (i) its rights to receive certain royalty and milestone payments from Shionogi arising under the Shionogi Agreement, and (ii) the right to receive payments under a Japanese yen/US dollar foreign currency hedge arrangement (as further described below, the “Currency Hedge Agreement”) put into place by the Company in connection with the transaction. Royalty payments will be paid by Shionogi in Japanese yen and milestone payments will paid in U.S. dollars. The Company’s collaboration with Shionogi was not impacted as a result of this transaction.

Non-Recourse Notes Payable

On March 9, 2011, Royalty Sub completed a private placement to institutional investors of $30,000 in aggregate principal amount of its PhaRMA Senior Secured 14.0% Notes due 2020 (the “PhaRMA Notes”). The PhaRMA Notes were issued by Royalty Sub under an Indenture, dated as of March 9, 2011 (the “Indenture”), by and between Royalty Sub and U.S. Bank National Association, as Trustee. Principal and interest on the PhaRMA Notes issued are payable from, and are secured by, the rights to royalty and milestone payments under the Shionogi Agreement transferred by the Company to Royalty Sub and payments, if any, made to Royalty Sub under the Currency Hedge Agreement. The PhaRMA Notes bear interest at 14% per annum, payable annually in arrears on September 1st of each year (the “Payment Date”). The Company remains entitled to receive any royalties and milestone payments related to sales of peramivir by Shionogi following repayment of the PhaRMA Notes.

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, but is not obligated to, make capital contributions to a capital account that may be used to redeem, or on up to one occasion pay any interest shortfall on, the PhaRMA Notes.

In September 2013, Royalty Sub paid $1,844 of interest on the PhaRMA Notes from royalty payments received from RAPIACTA ® sales from the preceding four calendar quarters. This payment resulted in an obligation shortfall of approximately $2,356 associated with accrued interest due September 3, 2013. As stipulated under the PhaRMA Notes Indenture, if the amount available for payment on any Payment Date is insufficient to pay all of the interest due on a Payment Date, the shortfall in interest will accrue interest at the interest rate applicable to the PhaRMA Notes compounded annually. Accordingly, commencing in September 2013, the Company began accruing interest at 14% per annum on the interest shortfall of $2,356. In March, June and August of 2014, Royalty Sub paid additional interest of $446, $1,882 and $70, respectively, bringing the 2013 shortfall down to $222 as of September 30, 2014. Under the terms of the Indenture, Royalty Sub’s inability to pay the full amount of interest payable in September 2013 by the next succeeding Payment Date for the PhaRMA Notes, which was September 1, 2014, constituted an event of default. Accordingly, the PhaRMA Notes and related accrued interest have been classified as current liabilities on the December 31, 2014 balance sheet. As a result of the event of default under the PhaRMA Notes, the holders of the PhaRMA Notes may pursue acceleration of the PhaRMA Notes, may foreclose on the collateral securing the PhaRMA Notes and the equity interest in Royalty Sub and exercise other remedies available to them under the Indenture in respect of the PhaRMA Notes. In such event, the Company may not realize the benefit of future royalty payments that might otherwise accrue to it following repayment of the PhaRMA Notes and it might otherwise be adversely affected. Due to the non-recourse nature of the PhaRMA Notes, in the event of any potential acceleration or foreclosure, the primary impact to the Company would be the loss of future royalty payments from Shionogi and legal costs associated with retiring the PhaRMA Notes. In addition, the Company may incur costs associated with liquidating the related Currency Hedge Agreement, which would no longer be required in the event of foreclosure, or if the PhaRMA Notes cease to be outstanding. As the PhaRMA Notes are the obligation of Royalty Sub and non-recourse to the Company, the event of default of the PhaRMA Notes is not expected to have a significant impact on the Company’s future results of operations or cash flows. In addition to the 2013 interest shortfall, Royalty Sub was unable to make the 2014 interest payment of $4,200 on the September 1, 2014 Payment Date.

The Indenture does not contain any financial covenants. The Indenture includes customary representations and warranties of Royalty Sub, affirmative and negative covenants of Royalty Sub, Events of Default and related remedies, and provisions regarding the duties of the Trustee, indemnification of the Trustee, and other matters typical for indentures used in structured financings of this type.

As of December 31, 2014, the aggregate fair value of the PhaRMA Notes was estimated to be approximately 50% of its carrying value of $30,000. The estimated fair value of the PhaRMA Notes is classified as Level 2 in the fair value hierarchy as defined in U.S. GAAP.

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.

Foreign Currency Hedge

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 yen per dollar for which the Company may be required to pay a premium in each year from 2015 through 2020, provided the Currency Hedge Agreement remains in effect. A payment of $1,950 will be required if, on May 18 of the relevant year, the U.S. dollar is worth 100 yen or less as determined in accordance with the Currency Hedge Agreement.

The Currency Hedge Agreement does not qualify for hedge accounting treatment; therefore mark to market adjustments are recognized in the Company’s Consolidated Statement of Comprehensive Loss. Cumulative mark to market adjustments in 2014, 2013 and 2012 resulted in a gain of $5,487, $5,294 and a loss of $749, respectively. The Company is also required to post collateral in connection with the mark to market adjustments based on defined thresholds. As of December 31, 2014 and 2013, no collateral was posted under the Currency Hedge Agreement. The Company will not be required at any time to post collateral exceeding the maximum premium payments remaining payable under the Currency Hedge Agreement. As of December 31, 2014, the maximum amount of hedge collateral the Company may be required to post is $11.7 million.

Note 4 - Lease Obligations and Other Contingencies

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

Note 4 — Lease Obligations and Other Contingencies

The Company has the following minimum payments under operating lease obligations that existed at December 31, 2014:

2015	$	739
2016		383
2017		384
2018		356
2019		366
Thereafter		186
Total minimum payments	$	2,414

The obligations in the preceding table are primarily related to the Company’s leases for buildings in Birmingham, Alabama and Durham, North Carolina. The lease for the Company’s headquarters in Durham, North Carolina expires June 30, 2020. The lease for the existing facility in Alabama expires June 30, 2016; however, in October 2015, the Company will lease an additional approximate 35 square feet in Birmingham to house its new research facilities. The Company expects to begin construction on its new research facility in 2015 and this lease obligates the Company for $5,148 through 2026. Rent expense for operating leases was $633, $526, and $629 in 2014, 2013, and 2012, respectively.

Note 5 - Stockholders' Equity

12 Months Ended

Dec. 31, 2014

Stockholders' Equity Note [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

Note 5 — Stockholders’ Equity

Sales of Common Stock

On November 6, 2013, the Company filed a $125,000 shelf registration statement on Form S-3 with the SEC. This shelf registration statement was declared effective in November 2013 and allows us to sell securities, including common stock, preferred stock, depository shares, stock purchase contracts, warrants and units, from time to time at prices and on terms to be determined at the time of sale. On June 3, 2014, the Company issued 11,500 shares of common stock for gross proceeds of $115,000 under this $125,000 shelf registration statement. Net proceeds were approximately $106,600 after deducting underwriting discounts and offering expenses.

In August 2013, the Company completed a public offering of 4,600 shares of its common stock at a price of $4.40 per share, which included the underwriters’ over-allotment allocation of an additional 600 shares. Net proceeds were approximately $18,500 after deducting underwriting discounts and offering expenses. Shares of common stock in this offering were sold under the $70,000 shelf registration statement declared effective in July 2011.

In June 2011, the Company entered into an At Market Issuance Sales Agreement (the “ATM Agreement”) with McNicoll, Lewis & Vlak (“MLV”) pursuant to which the Company was able to sell $70,000 in shares of its common stock at current market prices under a Form S-3 registration statement with MLV acting as the sales agent. During 2012, the Company sold an aggregate of 4,516 shares of common stock at an average per share price of $4.08 pursuant to the ATM Agreement for net proceeds of $17,805. During 2013, the Company sold an aggregate of 2,883 shares of common stock at an average per share price of $1.85 pursuant to the Agreement for net proceeds of $5,218.

Annual Incentive Award Paid in Stock

On March 15, 2012, the Company issued 193 shares of restricted common stock in lieu of a cash payment to employees as payment for their annual incentive award earned in 2011. The number of shares issued was based on the total value of the annual incentive earned in 2011 of $1,542, less $535 in withholding taxes paid in cash on the employees’ behalf, divided by the closing common stock price on March 15, 2012 of $5.23 per share.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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Reference 15: http://www.xbrl.org/2003/role/presentationRef
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Reference 16: http://www.xbrl.org/2003/role/presentationRef
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Reference 17: http://www.xbrl.org/2003/role/presentationRef
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Reference 18: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Note 6 - Stock-Based Compensation

12 Months Ended

Dec. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

Note 6 — Stock-Based Compensation

Stock Incentive Plan

As of December 31, 2014, the Company had two stock-based employee compensation plans, the Stock Incentive Plan (“Incentive Plan”) and the Employee Stock Purchase Plan (“ESPP”), both which were amended and restated in March 2014 and approved by the Company’s stockholders in May 2014. Stock-based compensation expense of $10,177 ($9,963 of expense related to the Incentive Plan, $214 of expense related to the ESPP) was recognized during 2014, while $4,368 ($4,253 of expense related to the Incentive Plan, $115 of expense related to the ESPP) was recognized during 2013, and $4,167 ($4,010 of expense related to the Incentive Plan, $157 of expense related to the ESPP) was recognized during 2012.

The Company accounts for stock-based compensation in accordance with FASB authoritative guidance regarding share-based payments. Total stock-based compensation was allocated as follows:

	Year Ended December 31,
	2014		2013		2012
Research and development	$	8,906	$	3,664	$	3,511
General and administrative		1,271		704		656
Total stock-based compensation expense	$	10,177	$	4,368	$	4,167

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. Commencing March 1, 2011, stock option awards granted to employees generally vest 25% each year until fully vested after four years. In January 2013, the Company made retention grants of stock option awards and restricted stock units. These awards vest 50% each year until fully vested after two years. In August 2013 and December 2014, the Company issued 1,032 and 1,250 performance-based stock options, respectively. These awards vest upon successful completion of specific development milestones. As of December 31, 2014, 50% of the August 2013 grants have vested based upon achievement of two milestones (1) successful completion of the OPuS-1 clinical trial for which vesting occurred in the second quarter of 2014, and 2) FDA approval of RAPIVAB for which vesting occurred in the fourth quarter of 2014.) Thus, as of December 31, 2014, 50% of the August 2013 performance-based grants and 100% of the December 2014 performance-based grants remain unvested and no compensation expense has been recognized for these portions of the previously issued performance-based grants. Stock option awards granted to non-employee directors of the Company generally vest monthly over one year. All stock option awards have contractual terms of 5 to 10 years. The vesting exercise provisions of all awards granted under the Incentive Plan are subject to acceleration in the event of certain stockholder-approved transactions, or upon the occurrence of a change in control as defined in the Incentive Plan.

Related activity under the Incentive Plan is as follows:

	Awards Available			Options Outstanding			Weighted Average Exercise Price
Balance at December 31, 2011		2,009			7,858		$	6.21
Plan amendment		1,700			—			—
Restricted stock awards granted		(415	)		—			—
Restricted stock awards cancelled		86			—			—
Stock option awards granted		(1,617	)		1,617			4.65
Stock option awards exercised		—			(350	)		1.58
Stock option awards cancelled		1,052			(1,052	)		6.26
Balance at December 31, 2012		2,815			8,073			6.09
Restricted stock awards granted		(310	)		—			—
Restricted stock awards cancelled		53			—			—
Stock option awards granted		(3,277	)		3,277			3.05
Stock option awards exercised		—			(563	)		2.37
Stock option awards cancelled		1,801			(1,801	)		7.22
Balance at December 31, 2013		1,082			8,986			4.99
Plan amendment		3,750			—			—
Restricted stock awards granted		(593	)		—			—
Restricted stock awards cancelled		—			—			—
Stock option awards granted		(1,965	)		1,965			10.99
Stock option awards exercised		—			(1,258	)		4.78
Stock option awards cancelled		88			(88	)		8.83
Balance at December 31, 2014		2,362			9,605		$	6.21

For stock option awards granted under the Incentive Plan during 2014, 2013 and 2012, the fair value was estimated on the date of grant using a Black-Scholes option pricing model and the assumptions noted in the table below. The weighted average grant date fair value of these awards granted during 2014, 2013 and 2012 was $8.02, $1.28, and $3.24, respectively. The fair value of the stock option awards is amortized to expense over the vesting periods using a straight-line expense attribution method. The following explanations describe the assumptions used by the Company to value the stock option awards granted during 2014, 2013, and 2012. The expected life is based on the average of the assumption that all outstanding stock option awards will be exercised at full vesting and the assumption that all outstanding stock option awards will be exercised at the midpoint of the current date (if already vested) or at full vesting (if not yet vested) and the full contractual term. The expected volatility represents the volatility over the most recent period corresponding with the expected life. The Company has assumed no expected dividend yield, as dividends have never been paid to stockholders and will not be for the foreseeable future. The weighted average risk-free interest rate is the implied yield currently available on zero-coupon government issues with a remaining term equal to the expected term.

Weighted Average Assumptions for Stock Option Awards Granted under the Incentive Plan

	2014			2013			2012
Expected Life		5.5			4.7			5.4
Expected Volatility		87	%		84	%		87	%
Expected Dividend Yield		0.0	%		0.0	%		0.0	%
Risk-Free Interest Rate		1.6	%		0.7	%		0.9	%

The total intrinsic value of stock option awards exercised under the Incentive Plan was $8,522 during 2014, $738 during 2013, $877 and during 2012. The intrinsic value represents the total proceeds (fair market value at the date of exercise, less the exercise price, times the number of stock option awards exercised) received by all individuals who exercised stock option awards during the period.

The following table summarizes, at December 31, 2014, by price range: (1) for stock option awards outstanding under the Incentive Plan, the number of stock option awards outstanding, their weighted average remaining life and their weighted average exercise price; and (2) for stock option awards exercisable under the Plan, the number of stock option awards exercisable and their weighted average exercise price:

				Outstanding				Exercisable
Range				Number	Weighted Average Remaining Life		Weighted Average Exercise Price	Number		Weighted Average Exercise Price
$	0	to	3	2,236	7.2	$	1.52	1,145	$	1.59
	3	to	6	3,214	6.8		4.59	1,955		4.35
	6	to	9	1,380	5.2		7.12	1,197		7.11
	9	to	12	2,315	7.9		11.16	554		11.62
	12	to	15	456	3.2		12.69	365		12.53
	15	to	18	4	1.0		15.45	4		15.45
$	0	to	18	9,605	6.8	$	6.21	5,220	$	5.73

The weighted average remaining contractual life of stock option awards exercisable under the Incentive Plan at December 31, 2014 was 5.2 years.

The aggregate intrinsic value of stock option awards outstanding and exercisable under the Incentive Plan at December 31, 2014 was $33,698. The aggregate intrinsic value represents the value (the period’s closing market price, less the exercise price, times the number of in-the-money stock option awards) that would have been received by all stock option award holders under the Incentive Plan had they exercised their stock option awards at the end of the year.

The total fair value of the stock option awards vested under the Incentive Plan was $2,844 during 2014, $3,483 during 2013, and $3,373 during 2012.

As of December 31, 2014, the number of stock option awards vested and expected to vest under the Incentive Plan is 8,580. The weighted average exercise price of these stock option awards is $6.27 and their weighted average remaining contractual life is 6.6 years.

The following table summarizes the changes in the number and weighted-average grant-date fair value of non-vested stock option awards during 2014:

	Non-Vested Stock Option Awards			Weighted Average Grant-Date Fair Value
Balance December 31, 2013		4,209		$	1.50
Stock option awards granted		1,965			7.76
Stock option awards vested		(1,789	)		1.59
Stock option awards forfeited		—			—
Balance December 31, 2014		4,385		$	4.27

As of December 31, 2014, there was approximately $9,987 of total unrecognized compensation cost related to non-vested employee stock option awards and restricted stock units granted by the Company. That cost is expected to be recognized as follows: $4,101 in 2015, $2,968 in 2016, $2,502 in 2017, and $416 in 2018.

Employee Stock Purchase Plan

The Company has reserved a total of 1,475 shares of common stock to be purchased under the ESPP, of which 538 shares remain available for purchase at December 31, 2014. Eligible employees may authorize up to 15% of their salary to purchase common stock at the lower of 85% of the beginning or 85% of the ending price during six-month purchase intervals. No more than 3 shares may be purchased by any one employee at the six-month purchase dates and no employee may purchase stock having a fair market value at the commencement date of $25 or more in any one calendar year.

There were 49, 89 and 110 shares of common stock purchased under the ESPP in 2014, 2013, and 2012, respectively, at a weighted average price per share of $6.29, $1.39, and $2.93, respectively. Expense of $214, $115, and $157, related to the ESPP was recognized during 2014, 2013, and 2012, respectively. Compensation expense for shares purchased under the ESPP related to the purchase discount and the “look-back” option were determined using a Black-Scholes option pricing model. The weighted average grant date fair values of shares granted under the ESPP during 2014, 2013, and 2012, were $4.41, $1.27, and $1.48, respectively.

Note 7 - Income Taxes

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

Note 7 — Income Taxes

The Company has incurred net losses since inception and, consequently, has not recorded any U.S. Federal and state income tax expense or benefit. The differences between the Company’s effective tax rate and the statutory tax rate in 2014, 2013, and 2012 are as follows:

	2014			2013			2012
Income tax benefit at federal statutory rate (35%)	$	(15,816	)	$	(10,538	)	$	(13,678	)
State and local income taxes net of federal tax benefit		(1,286	)		(839	)		(1,470	)
Permanent items		258			738			754
Rate change		22			1,892			1,147
Expiration of attribute carryforwards		373			242			5,135
Research and development tax credits		(748	)		(1,206	)		829
Other		(115	)		1,144			281
Change in valuation allowance		17,312			8,567			7,002
Income tax expense	$	—		$	—		$	—

The Company recognizes the impact of a tax position in its financial statements if it is more likely than not that the position will be sustained on audit based on the technical merits of the position. The Company has concluded that it has an uncertain tax position pertaining to its research and development credit carryforwards. The Company has established these credits based on information and calculations it believes are appropriate and the best estimate of the underlying credit. Any changes to the Company’s unrecognized tax benefits are offset by an adjustment to the valuation allowance and there would be no impact on the Company’s financial statements. The Company does not expect its unrecognized tax benefits to change significantly over the next 12 months.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	2014		2013
Balance at January 1,	$	284	$	—
Additions to current year tax positions		176		43
Additions to tax positions of prior years		12		241
Reductions for tax provisions of prior years		—		—
Balance at December 31,	$	472	$	284

Additionally, utilization of the Company’s net operating loss carryforwards could be subject to a substantial annual limitation due to ownership change limitations as described in Section 382 of the Internal Revenue Code and similar state provisions. The Company has performed an analysis as of December 31, 2014, and has determined that it has incurred changes in control as defined under Section 382. These ownership changes may limit the amount of net operating losses that can be utilized annually to offset future taxable income and tax.

Significant components of the Company’s deferred tax assets and liabilities are as follows:

	2014			2013
Deferred tax assets:
Net federal and state operating losses	$	135,922		$	119,940
Research and development credits		38,096			37,348
Fixed assets		1,073			1,119
Reserve for inventories		—			1,612
Deferred revenue		3,798			2,151
Stock-based compensation		7,086			5,282
Other		1,178			311
Total deferred tax assets		187,153			167,763
Deferred tax liabilities:
Foreign currency derivative		(2,285	)		(207	)
Total deferred tax liabilities		(2,285	)		(207	)

Valuation allowance		(184,868	)		(167,556	)
Net deferred tax assets	$	—		$	—

The majority of the Company’s deferred tax assets relate to net operating loss and research and development carryforwards that can only be realized if the Company is profitable in future periods. It is uncertain whether the Company will realize any tax benefit related to these carryforwards. Accordingly, the Company has provided a full valuation allowance against the net deferred tax assets due to uncertainties as to their ultimate realization. The valuation allowance will remain at the full amount of the deferred tax assets until it is more likely than not that the related tax benefits will be realized. The Company’s valuation allowance increased by $17,312 in 2014, $8,567 in 2013, and $7,002 in 2012.

As of December 31, 2014, the Company had federal operating loss carryforwards of $356,686, state operating loss carryforwards of $361,572, and research and development credit carryforwards of $38,096, which will expire at various dates from 2015 through 2034. The federal losses begin to expire in 2018, the state losses begin to expire in 2015 and the research and development contracts begin to expire in 2018.

The Company’s federal and state operating loss carryforwards include $7,890 of excess tax benefits related to a deduction from the exercise of stock options. The tax benefit of these deductions has not been recognized in deferred tax assets. If utilized, the benefits from these deductions will be recorded as adjustments to additional paid-in capital.

Tax years 2011-2013 remain open to examination by the major taxing jurisdictions to which the Company is subject. Additionally, years prior to 2011 are also open to examination to the extent of loss and credit carryforwards from those years. The Company recognizes interest and penalties accrued related to unrecognized tax benefits as components of its income tax provision. However, there were no provisions or accruals for interest and penalties in 2014, 2013, and 2012.

Note 8 - Employee 401(k) Plan

12 Months Ended

Dec. 31, 2014

Compensation and Retirement Disclosure [Abstract]

Pension and Other Postretirement Benefits Disclosure [Text Block]

Note 8 — Employee 401(k) Plan

In January 1991, the Company adopted an employee retirement plan (“401(k) Plan”) under Section 401(k) of the Internal Revenue Code covering all employees. Employee contributions may be made to the 401(k) Plan up to limits established by the Internal Revenue Service. Company matching contributions may be made at the discretion of the Board of Directors. The Company made matching contributions of $361, $313, and $418, in 2014, 2013, and 2012, respectively.

Note 9 - Collaborative and Other Research and Development Contracts

12 Months Ended

Dec. 31, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Collaborative Arrangement Disclosure [Text Block]

Note 9 — Collaborative and Other Research and Development Contracts

U.S. Department of Health and Human Services (“BARDA/HHS”). In January 2007, the U.S. Department of Health and Human Services (“BARDA/HHS”) awarded the Company a $102,661, four-year contract for the advanced development of peramivir for the treatment of influenza. During 2009, peramivir clinical development shifted to focus on intravenous delivery and the treatment of hospitalized patients. To support this focus, a September 2009 contract modification was awarded to extend the i.v. peramivir program and to increase funding by $77,191. On February 24, 2011, the Company announced that BARDA/HHS had awarded it a $55,000 contract modification, intended to fund completion of the Phase 3 development of i.v. peramivir for the treatment of patients hospitalized with influenza. That contract modification brought the total contract award from BARDA/HHS to $234,852 and provided funding to support the filing of a NDA to seek regulatory approval for i.v. peramivir in the U.S. In December 2013, BioCryst submitted an NDA filing for i.v. peramivir to the FDA and the NDA was approved in December 2014. The BARDA/HHS contract expired on June 30, 2014 upon completion of all responsibilities under the contract.

National Institute of Allergy and Infectious Diseases (“NIAID/HHS”). In September 2013, NIAID/HHS contracted with the Company for the development of BCX4430 as a treatment for Marburg virus disease. NIAID/HHS, part of the National Institutes of Health, made an initial award of $5,000 to the Company. The total funding under this contract as of December 31, 2014 could be up to $28,717, if all contract options are exercised by NIAID/HHS, over a five year period. The goals of this contract are to file IND applications for intravenous i.v. and i.m. BCX4430 for the treatment of Marburg virus disease, and to conduct an initial Phase 1 human clinical trial. The aggregate $28,717 contract and option funding supports the appropriate IND-enabling program and the initial clinical trial. As of December 31, 2014, a total of $22,302 has been awarded under exercised options within the contract. BCX4430 is the lead compound in the Company’s BSAV research program.

The contracts with BARDA/HHS and NIAID/HHS are cost-plus-fixed-fee contracts. That is, the Company is entitled to receive reimbursement for all costs incurred in accordance with the contracts provisions that are related to the development of peramivir and BCX4430 plus a fixed fee, or profit. BARDA/HHS and NIAID/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.

Shionogi & Co., Ltd. (“Shionogi”). In February 2007, the Company entered into an exclusive license agreement with Shionogi to develop and commercialize peramivir in Japan for the treatment of seasonal and potentially life-threatening human influenza. Under the terms of the agreement, Shionogi obtained rights to injectable formulations of peramivir in Japan. The Company developed peramivir under a license from UAB and will owe sublicense payments to them on any future milestone payments and/or royalties received by the Company from Shionogi. In October 2008, the Company and Shionogi amended the license agreement to expand the territory covered by the agreement to include Taiwan and to provide rights for Shionogi to perform a Phase 3 clinical trial in Hong Kong. Shionogi has commercially launched peramivir under the commercial name RAPIACTA in Japan.

Green Cross Corporation (“Green Cross”). In June 2006, the Company entered into an agreement with Green Cross to develop and commercialize peramivir in Korea. Under the terms of the agreement, Green Cross will be responsible for all development, regulatory, and commercialization costs in Korea. The Company received a one-time license fee of $250. The license also provides that the Company will share in profits resulting from the sale of peramivir in Korea, including the sale of peramivir to the Korean government for stockpiling purposes. Furthermore, Green Cross will pay the Company a premium over its cost to supply peramivir for development and any future marketing of peramivir products in Korea.

Mundipharma International Holdings Limited (“Mundipharma”). In February 2006, the Company entered into an exclusive, royalty bearing right and license agreement with Mundipharma for the development and commercialization of forodesine, a Purine Nucleoside Phosphorylase (“PNP”) inhibitor, for use in oncology (the “Original Agreement”). Under the terms of the Original Agreement, Mundipharma obtained rights to forodesine in markets across Europe, Asia, and Australasia in exchange for a $10,000 up-front payment.

The Company deferred revenue recognition of the $10,000 up-front payment that was received from Mundipharma in February 2006 because the Company was involved in the continued development of forodesine. Amortization of this revenue commenced in February 2006 and was initially scheduled to end in October 2017, which is the date of expiration for the last-to-expire patent covered by the agreement. The Company also deferred revenue recognition of a $5,000 payment received from Mundipharma in connection with the initiation of a clinical trial in 2007. Amortization of this deferred revenue commenced in 2007 and was initially scheduled to end in October 2017. Under its agreement with AECOM/IRL, the Company paid sublicense payments related to these upfront cash payments received from Mundipharma. Expense recognition of these sublicense payments was deferred and recognized under the same term as the related deferred revenue.

On November 11, 2011, the Company entered into the Amended and Restated License and Development Agreement (the “Amended and Restated Agreement”) with Mundipharma, amending and restating the Original Agreement. Under the terms of the Amended and Restated Agreement, Mundipharma obtained worldwide rights to forodesine. Commencing on November 11, 2011, Mundipharma controls the development and commercialization of forodesine and assumes all future development and commercialization costs. The Amended and Restated Agreement provides for the possibility of future event payments totaling $15,000 for achieving specified regulatory events for certain indications and tiered royalties ranging from mid to high single-digit percentages of net product sales in each country where forodesine is sold by Mundipharma. These royalties are subject to downward adjustments based on the then-existing patent coverage and/or the availability of generic compounds in each country.

The Amended and Restated Agreement is a multiple element arrangement for accounting purposes, in which the Company is required to deliver to Mundipharma both the worldwide rights to forodesine in the field of oncology and the transfer of product data and know-how to permit Mundipharma to develop and commercialize forodesine (the “Knowledge Transfer”). The Company accounted for these elements as a combined unit of accounting as they do not have stand-alone value to Mundipharma. The worldwide license rights were granted to Mundipharma on November 11, 2011 and the Knowledge Transfer was completed during the first quarter of 2012. Completion of the Knowledge Transfer concluded the Company’s obligations under the Amended and Restated Agreement and resulted in the recognition of the unamortized deferred revenue and expense of $7,766 and $1,864, respectively, in the Consolidated Statements of Comprehensive Loss for the year ended December 31, 2012.

Albert Einstein College of Medicine of Yeshiva University and Industrial Research, Ltd. (“AECOM” and “IRL” respectively). In June 2000, the Company licensed a series of potent inhibitors of PNP from AECOM and IRL, (collectively, the “Licensors”). The lead product candidates from this collaboration are forodesine and ulodesine. The Company has obtained worldwide exclusive rights to develop and ultimately distribute these, or any other, product candidates that might arise from research on these inhibitors. The Company has the option to expand the Agreement to include other inventions in the field made by the investigators or employees of the Licensors. The Company agreed to use commercially reasonable efforts to develop these drugs. In addition, the Company has agreed to pay certain milestone payments for each licensed product (which range in the aggregate from $1,400 to almost $4,000 per indication) for future development of these inhibitors, single digit royalties on net sales of any resulting product made by the Company, and to share approximately one quarter of future payments received from other third-party partners, if any. In addition, the Company has agreed to pay annual license fees, which can range from $150 to $500, that are creditable against actual royalties and other payments due to the Licensors. This agreement may be terminated by the Company at any time by giving 60 days advance notice or in the event of material uncured breach by the Licensors.

In May 2010, the Company amended the licensee agreement through which the Company obtained worldwide exclusive rights to develop and ultimately distribute any product candidates that might arise from research on a series of PNP inhibitors, including forodesine and ulodesine. Under the terms of the amendment, the Licensors agreed to accept a reduction of one-half in the percentage of future payments received from third-party sub licensees of the licensed PNP inhibitors that must be paid to the Licensors. This reduction does not apply to (i) any milestone payments the Company may receive in the future under its license agreement dated February 1, 2006 with Mundipharma and (ii) royalties received from its sub licensees in connection with the sale of licensed products, for which the original payment rate will remain in effect. The rate of royalty payments to the Licensors based on net sales of any resulting product made by the Company remains unchanged.

In consideration for these modifications in 2010, the Company issued to the Licensors shares of its common stock with an aggregate value of $5,911 and paid the Licensors $90 in cash. Additionally, at the Company’s sole option and subject to certain agreed upon conditions, any future non-royalty payments due to be paid by it to the Licensors under the license agreement may be made either in cash, in shares of its common stock, or in a combination of cash and shares.

On November 17, 2011, the Company further amended its agreements with the Licensors whereby the Licensors agreed to accept a reduction of one-half in the percentage of Net Proceeds (as defined) received by the Company under its Amended and Restated Agreement with Mundipharma that will be paid to AECOM/IRL.

On June 19, 2012, the Company further amended its agreements with AECOM/IRL whereby the parties clarified the definition of the field with respect to PNP inhibition and AECOM/IRL agreed to exclusive worldwide license of BCX4430 to BioCryst for any antiviral use.

At its sole option and subject to certain agreed upon conditions, any future non-royalty payments due to be paid by the Company to AECOM/IRL under the license agreement may be made either in cash, in shares of the Company’s common stock, or in a combination of cash and shares.

The University of Alabama at Birmingham (“UAB”). The Company currently has agreements with UAB for influenza neuraminidase and complement inhibitors. Under the terms of these agreements, UAB performed specific research for the Company in return for research payments and license fees. UAB has granted the Company certain rights to any discoveries in these areas resulting from research developed by UAB or jointly developed with the Company. The Company has agreed to pay single digit royalties on sales of any resulting product and to share in future payments received from other third-party partners. The Company has completed the research under the UAB agreements. These two agreements have initial 25-year terms, are automatically renewable for five-year terms throughout the life of the last patent and are terminable by the Company upon three months notice and by UAB under certain circumstances. Upon termination both parties shall cease using the other parties’ proprietary and confidential information and materials, the parties shall jointly own joint inventions and UAB shall resume full ownership of all UAB licensed products. There is currently no activity between the Company and UAB on these agreements, but when the Company licenses this technology, such as in the case of the Shionogi and Green Cross agreements, or commercializes products related to these programs, the Company will owe sublicense fees or royalties on amounts it receives.

Note 10 - Quarterly Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information [Text Block]

Note 10 — Quarterly Financial Information (Unaudited)

	First			Second			Third			Fourth
2014 Quarters
Revenues	$	3,458		$	1,466		$	3,238		$	5,446
Net Loss		(10,137	)		(14,649	)		(8,731	)		(11,672	)
Basic and diluted net loss per share		(0.17	)		(0.23	)		(0.12	)		(0.16	)

2013 Quarters
Revenues	$	3,554		$	821		$	2,389		$	10,567
Net Loss		(4,506	)		(12,172	)		(8,001	)		(5,429	)
Basic and diluted net loss per share		(0.09	)		(0.23	)		(0.14	)		(0.09	)

Note 11 - Recent Accounting Pronouncements

12 Months Ended

Dec. 31, 2014

New Accounting Pronouncements and Changes in Accounting Principles [Abstract]

New Accounting Pronouncements and Changes in Accounting Principles [Text Block]

Note 11 — Recent Accounting Pronouncements

In August 2014, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2014-15 – Presentation of Financial Statements - Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern, which defines management’s responsibility to evaluate, at each annual and interim reporting period, whether there are conditions or events that raise substantial doubt about an entity’s ability to continue as a going concern within one year after the date the financial statements are issued and to provide related footnote disclosures in certain circumstances. In connection with each annual and interim period, management must assess if there is substantial doubt about the company’s ability to continue as a going concern within one year after the issuance date. Disclosures are required if conditions give rise to substantial doubt. This standard is effective for all companies in the first annual period ending after December 15, 2016, and interim periods thereafter, with early adoption permitted. The Company is currently evaluating the impact of the adoption of this standard on its financial statements and disclosures.

In May 2014, the FASB issued Accounting Standard Update ("ASU") 2014-09 – Revenue from Contracts with Customers, which provides a single, comprehensive revenue recognition model for all contracts with customers. The core principal of this ASU is that an entity should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. This ASU is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2016. Early adoption is not permitted and companies can transition to the new standard under the full retrospective method or the modified retrospective method. The Company is currently evaluating the impact this ASU will have on its consolidated financial statements.

In June 2014, the FASB issued ASU 2014-12 – Compensation – Stock Compensation: Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could be Achieved after the Requisite Service Period, which provides explicit guidance for the accounting treatment for these types of awards. The ASU requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant-date fair value of the award. This update is effective for annual periods and interim periods within those annual periods beginning after December 15, 2014. Early adoption is permitted. The Company does not expect this ASU will have a material impact on its consolidated financial statements.

- Definition

The entire disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6507316

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Direct Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6510796

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=28359718&loc=d3e22583-107794

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Indirect Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6515603

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=28359718&loc=d3e22580-107794

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.10-01.(b)(6))
-URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Accounting Change
-URI http://asc.fasb.org/extlink&oid=6503790

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=28359718&loc=d3e22499-107794

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Retrospective Application
-URI http://asc.fasb.org/extlink&oid=6523989

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e725-108305

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 01
-Paragraph b
-Subparagraph 6
-Article 10

+ Details

Accounting Policies, by Policy (Policies)

12 Months Ended

Dec. 31, 2014

Accounting Policies [Abstract]

Description of Company [Policy Text Block]

The Company

Consolidation, Policy [Policy Text Block]

Basis of Presentation

Cash and Cash Equivalents, Policy [Policy Text Block]

Cash and Cash Equivalents

Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]

Restricted Cash

Investment, Policy [Policy Text Block]

Investments

	December 31, 2014
	Amortized Cost		Accrued Interest		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Obligations of U.S. Government and its agencies	$	20,307	$	22	$	—	$	(23	)	$	20,306
Corporate debt securities		27,152		151		5		(47	)		27,261
Certificates of deposit		11,838		6		—		(63	)		11,781
Total investments	$	59,297	$	179	$	5	$	(133	)	$	59,348

	December 31, 2013
	Amortized Cost		Accrued Interest		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Obligations of U.S. Government and its agencies	$	4,899	$	1	$	1	$	—		$	4,901
Corporate debt securities		8,528		47		2		(1	)		8,576
Commercial paper		5,994		—		2		—			5,996
Total investments	$	19,421	$	48	$	5	$	(1	)	$	19,473

The following table summarizes the scheduled maturity for the Company’s investments at December 31, 2014 and 2013.

	2014		2013
Maturing in one year or less	$	18,232	$	16,891
Maturing after one year through two years		25,459		2,582
Maturing after two years		15,657		—
Total investments	$	59,348	$	19,473

Receivables, Policy [Policy Text Block]

Receivable from Collaborations

	December 31, 2014
	Billed		Unbilled		Total
U.S. Department of Health and Human Services	$	—	$	2,778	$	2,778
Shionogi & Co. Ltd.		1,071		—		1,071
Total receivables	$	1,071	$	2,778	$	3,849

	December 31, 2013
	Billed		Unbilled		Total
U.S. Department of Health and Human Services	$	90	$	1,573	$	1,663
Shionogi & Co. Ltd.		452		—		452
Total receivables	$	542	$	1,573	$	2,115

Receivables from Product Sales

Inventory, Policy [Policy Text Block]

Inventory

During 2014, in connection with the FDA approval of RAPIVAB, the Company began capitalizing costs associated with the production of RAPIVAB inventories.

The Company’s inventory consisted of the following:

	As of December 31,
	2014		2013
Supplies	$	—	$	263
Work in process		267		—
Finished goods		416		3,980
Reserve for finished goods and supplies		—		(4,243	)
Net inventories	$	683	$	—

Property, Plant and Equipment, Policy [Policy Text Block]

Furniture and Equipment

Intangible Assets, Finite-Lived, Policy [Policy Text Block]

Patents and Licenses

Accrued Expenses [Policy Text Block]

Accrued Expenses

•

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 our raw materials, drug substance and drug products; and

•

professional fees.

Accrued expenses were comprised of the following:

	December 31,
	2014		2013
Compensation and benefits	$	2,105	$	1,527
Development costs		4,232		2,210
Inventory		397		-
Professional fees		238		48
Duties and taxes		75		90
Other		4,676		1,867
	$	11,723	$	5,742

As of December 31, 2014 and 2013, the carrying value of accrued expenses approximates their fair value due to their short-term settlement.

Income Tax, Policy [Policy Text Block]

Income Taxes

Accumulated Other Comprehensive Income Loss [Policy Text Block]

Accumulated Other Comprehensive (Loss) Income

Accumulated other comprehensive (loss) income is comprised of unrealized gains and losses on investments available-for-sale and is disclosed as a separate component of stockholders’ equity.

Revenue Recognition, Policy [Policy Text Block]

Revenue Recognition

Collaborative and Other Research and Development Arrangements and Royalties

Product Sales

The Company accounts for these sales deductions in accordance with authoritative guidance on revenue recognition when consideration is given by a vendor to a customer.

Rebates and Chargebacks

Discounts and Sales Incentives

Product Returns

The Company does not record a product return allowance as it does not offer the ability to return goods once a bonafide shipment has been accepted by a specialty distributor.

Advertising

The Company recorded the following revenues for the years ended December 31:

	2014		2013		2012
Product sales, net	$	33	$	—	$	—
Royalty revenue		3,025		2,562		3,317
Collaborative and other research and development revenues:
U.S. Department of Health and Human Services		9,366		13,585		14,026
Shionogi (Japan)		1,184		1,184		1,184
Mundipharma (United Kingdom)		—		—		7,766
Total collaborative and other research and development revenues		10,550		14,769		22,976
Total revenues	$	13,608	$	17,331	$	26,293

Research and Development Expense, Policy [Policy Text Block]

Research and Development Expenses

Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]

Stock-Based Compensation

Interest Expense and Deferred Financing Costs [Policy Text Block]

Interest Expense and Deferred Financing Costs

Currency Hedge Agreement [Policy Text Block]

Currency Hedge Agreement

Costs Associated with Exit or Disposal Activities or Restructurings, Policy [Policy Text Block]

Restructuring Activities

During the fourth quarter of 2012, the Company announced a restructuring plan in response to setbacks in its development programs.

The following table sets forth activity in the restructuring liability for the years ended December 31, 2013 and 2012.

	Employee separation costs			Facilities related charges			Total
Balance at December 31, 2011	$	—		$	—		$	—
Accruals		1,662			97			1,759
Payments		(58	)		—			(58	)
Balance at December 31, 2012		1,604			97			1,701
Accruals		—			(97	)		(97	)
Payments		(1,604	)		—			(1,604	)
Balance at December 31, 2013	$	—		$	—		$	—

Earnings Per Share, Policy [Policy Text Block]

Net Loss Per Share

Use of Estimates, Policy [Policy Text Block]

Use of Estimates

Concentration of Market Risk [Policy Text Block]

Significant Customers and Other Risks

Significant Customers

Risks from Third Party Manufacturing and Distribution Concentration

Concentration Risk, Credit Risk, Policy [Policy Text Block]

Credit Risk

Note 1 - Significant Accounting Policies and Concentrations of Risk (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2014

Dec. 31, 2014

Accounting Policies [Abstract]

Available-for-sale Securities [Table Text Block]

	December 31, 2014
	Amortized Cost		Accrued Interest		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Obligations of U.S. Government and its agencies	$	20,307	$	22	$	—	$	(23	)	$	20,306
Corporate debt securities		27,152		151		5		(47	)		27,261
Certificates of deposit		11,838		6		—		(63	)		11,781
Total investments	$	59,297	$	179	$	5	$	(133	)	$	59,348

	December 31, 2013
	Amortized Cost		Accrued Interest		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Obligations of U.S. Government and its agencies	$	4,899	$	1	$	1	$	—		$	4,901
Corporate debt securities		8,528		47		2		(1	)		8,576
Commercial paper		5,994		—		2		—			5,996
Total investments	$	19,421	$	48	$	5	$	(1	)	$	19,473

Available for Sale Securities Debt Maturities Fair Value [Table Text Block]

	2014		2013
Maturing in one year or less	$	18,232	$	16,891
Maturing after one year through two years		25,459		2,582
Maturing after two years		15,657		—
Total investments	$	59,348	$	19,473

Schedule of Receivables from Collaborations [Table Text Block]

	December 31, 2014
	Billed		Unbilled		Total
U.S. Department of Health and Human Services	$	—	$	2,778	$	2,778
Shionogi & Co. Ltd.		1,071		—		1,071
Total receivables	$	1,071	$	2,778	$	3,849

	December 31, 2013
	Billed		Unbilled		Total
U.S. Department of Health and Human Services	$	90	$	1,573	$	1,663
Shionogi & Co. Ltd.		452		—		452
Total receivables	$	542	$	1,573	$	2,115

Schedule of Inventory, Current [Table Text Block]

	As of December 31,
	2014		2013
Supplies	$	—	$	263
Work in process		267		—
Finished goods		416		3,980
Reserve for finished goods and supplies		—		(4,243	)
Net inventories	$	683	$	—

Schedule of Accrued Liabilities [Table Text Block]

	December 31,
	2014		2013
Compensation and benefits	$	2,105	$	1,527
Development costs		4,232		2,210
Inventory		397		-
Professional fees		238		48
Duties and taxes		75		90
Other		4,676		1,867
	$	11,723	$	5,742

Schedule of Revenues from Collaborations [Table Text Block]

	2014		2013		2012
Product sales, net	$	33	$	—	$	—
Royalty revenue		3,025		2,562		3,317
Collaborative and other research and development revenues:
U.S. Department of Health and Human Services		9,366		13,585		14,026
Shionogi (Japan)		1,184		1,184		1,184
Mundipharma (United Kingdom)		—		—		7,766
Total collaborative and other research and development revenues		10,550		14,769		22,976
Total revenues	$	13,608	$	17,331	$	26,293

Restructuring and Related Costs [Table Text Block]

	Employee separation costs			Facilities related charges			Total
Balance at December 31, 2011	$	—		$	—		$	—
Accruals		1,662			97			1,759
Payments		(58	)		—			(58	)
Balance at December 31, 2012		1,604			97			1,701
Accruals		—			(97	)		(97	)
Payments		(1,604	)		—			(1,604	)
Balance at December 31, 2013	$	—		$	—		$	—

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References + Details

Note 2 - Furniture and Equipment (Tables)

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment [Table Text Block]

	2014			2013
Furniture and fixtures	$	542		$	600
Office equipment		1,115			1,266
Software		1,423			1,448
Laboratory equipment		5,786			5,721
Leased equipment		63			63
Leasehold improvements		5,303			5,316
		14,232			14,414
Less accumulated depreciation and amortization		(14,025	)		(14,108	)
Furniture and equipment, net	$	207		$	306

Note 4 - Lease Obligations and Other Contingencies (Tables)

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

2015	$	739
2016		383
2017		384
2018		356
2019		366
Thereafter		186
Total minimum payments	$	2,414

Note 6 - Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]

	Year Ended December 31,
	2014		2013		2012
Research and development	$	8,906	$	3,664	$	3,511
General and administrative		1,271		704		656
Total stock-based compensation expense	$	10,177	$	4,368	$	4,167

Schedule of Share-based Compensation, Activity [Table Text Block]

	Awards Available			Options Outstanding			Weighted Average Exercise Price
Balance at December 31, 2011		2,009			7,858		$	6.21
Plan amendment		1,700			—			—
Restricted stock awards granted		(415	)		—			—
Restricted stock awards cancelled		86			—			—
Stock option awards granted		(1,617	)		1,617			4.65
Stock option awards exercised		—			(350	)		1.58
Stock option awards cancelled		1,052			(1,052	)		6.26
Balance at December 31, 2012		2,815			8,073			6.09
Restricted stock awards granted		(310	)		—			—
Restricted stock awards cancelled		53			—			—
Stock option awards granted		(3,277	)		3,277			3.05
Stock option awards exercised		—			(563	)		2.37
Stock option awards cancelled		1,801			(1,801	)		7.22
Balance at December 31, 2013		1,082			8,986			4.99
Plan amendment		3,750			—			—
Restricted stock awards granted		(593	)		—			—
Restricted stock awards cancelled		—			—			—
Stock option awards granted		(1,965	)		1,965			10.99
Stock option awards exercised		—			(1,258	)		4.78
Stock option awards cancelled		88			(88	)		8.83
Balance at December 31, 2014		2,362			9,605		$	6.21

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

	2014			2013			2012
Expected Life		5.5			4.7			5.4
Expected Volatility		87	%		84	%		87	%
Expected Dividend Yield		0.0	%		0.0	%		0.0	%
Risk-Free Interest Rate		1.6	%		0.7	%		0.9	%

Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable [Table Text Block]

				Outstanding				Exercisable
Range				Number	Weighted Average Remaining Life		Weighted Average Exercise Price	Number		Weighted Average Exercise Price
$	0	to	3	2,236	7.2	$	1.52	1,145	$	1.59
	3	to	6	3,214	6.8		4.59	1,955		4.35
	6	to	9	1,380	5.2		7.12	1,197		7.11
	9	to	12	2,315	7.9		11.16	554		11.62
	12	to	15	456	3.2		12.69	365		12.53
	15	to	18	4	1.0		15.45	4		15.45
$	0	to	18	9,605	6.8	$	6.21	5,220	$	5.73

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

	Non-Vested Stock Option Awards			Weighted Average Grant-Date Fair Value
Balance December 31, 2013		4,209		$	1.50
Stock option awards granted		1,965			7.76
Stock option awards vested		(1,789	)		1.59
Stock option awards forfeited		—			—
Balance December 31, 2014		4,385		$	4.27

Note 7 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	2014			2013			2012
Income tax benefit at federal statutory rate (35%)	$	(15,816	)	$	(10,538	)	$	(13,678	)
State and local income taxes net of federal tax benefit		(1,286	)		(839	)		(1,470	)
Permanent items		258			738			754
Rate change		22			1,892			1,147
Expiration of attribute carryforwards		373			242			5,135
Research and development tax credits		(748	)		(1,206	)		829
Other		(115	)		1,144			281
Change in valuation allowance		17,312			8,567			7,002
Income tax expense	$	—		$	—		$	—

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

	2014		2013
Balance at January 1,	$	284	$	—
Additions to current year tax positions		176		43
Additions to tax positions of prior years		12		241
Reductions for tax provisions of prior years		—		—
Balance at December 31,	$	472	$	284

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	2014			2013
Deferred tax assets:
Net federal and state operating losses	$	135,922		$	119,940
Research and development credits		38,096			37,348
Fixed assets		1,073			1,119
Reserve for inventories		—			1,612
Deferred revenue		3,798			2,151
Stock-based compensation		7,086			5,282
Other		1,178			311
Total deferred tax assets		187,153			167,763
Deferred tax liabilities:
Foreign currency derivative		(2,285	)		(207	)
Total deferred tax liabilities		(2,285	)		(207	)

Valuation allowance		(184,868	)		(167,556	)
Net deferred tax assets	$	—		$	—

Note 10 - Quarterly Financial Information (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information [Table Text Block]

	First			Second			Third			Fourth
2014 Quarters
Revenues	$	3,458		$	1,466		$	3,238		$	5,446
Net Loss		(10,137	)		(14,649	)		(8,731	)		(11,672	)
Basic and diluted net loss per share		(0.17	)		(0.23	)		(0.12	)		(0.16	)

2013 Quarters
Revenues	$	3,554		$	821		$	2,389		$	10,567
Net Loss		(4,506	)		(12,172	)		(8,001	)		(5,429	)
Basic and diluted net loss per share		(0.09	)		(0.23	)		(0.14	)		(0.09	)

Note 1 - Significant Accounting Policies and Concentrations of Risk (Details) - USD ($) shares in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Dec. 31, 2012	Sep. 30, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Mar. 09, 2011
Royalty Receivable [Member] \| Shionogi & Co. Ltd. [Member]
Note 1 - Significant Accounting Policies and Concentrations of Risk (Details) [Line Items]
Restricted Cash and Cash Equivalents				$ 1,000
Furniture and Fixtures [Member] \| Maximum [Member]
Note 1 - Significant Accounting Policies and Concentrations of Risk (Details) [Line Items]
Property, Plant and Equipment, Useful Life			7 years
Furniture and Fixtures [Member] \| Minimum [Member]
Note 1 - Significant Accounting Policies and Concentrations of Risk (Details) [Line Items]
Property, Plant and Equipment, Useful Life			5 years
Furniture and Fixtures [Member]
Note 1 - Significant Accounting Policies and Concentrations of Risk (Details) [Line Items]
Property, Plant and Equipment, Useful Life			7 years
Laboratory Equipment, Office Equipment, And Software [Member]
Note 1 - Significant Accounting Policies and Concentrations of Risk (Details) [Line Items]
Property, Plant and Equipment, Useful Life			5 years
Certificates of Deposit [Member]
Note 1 - Significant Accounting Policies and Concentrations of Risk (Details) [Line Items]
Restricted Cash and Cash Equivalents, Current				150,000
RAPIACTA [Member]
Note 1 - Significant Accounting Policies and Concentrations of Risk (Details) [Line Items]
Royalty Revenue	$ 469,000	$ 3,317,000			$ 2,848,000
RAPIVAB [Member] \| Sales Revenue, Product Line [Member] \| Customer Concentration Risk [Member]
Note 1 - Significant Accounting Policies and Concentrations of Risk (Details) [Line Items]
Concentration Risk, Percentage			90.00%
Currency Hedge Agreement [Member]
Note 1 - Significant Accounting Policies and Concentrations of Risk (Details) [Line Items]
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments					(749,000)
PhaRMA Notes [Member]
Note 1 - Significant Accounting Policies and Concentrations of Risk (Details) [Line Items]
Interest Expense			$ 4,998,000	4,778,000	4,666,000
Maximum [Member]
Note 1 - Significant Accounting Policies and Concentrations of Risk (Details) [Line Items]
Maturity Of Investments			3 months
Maturity Period of High Quality Marketable Securities			3 years
Average Maturity Period of High Quality Marketable Securities			18 months
Maturity Period of Short Term Investment			12 months
Minimum [Member]
Note 1 - Significant Accounting Policies and Concentrations of Risk (Details) [Line Items]
Maturity Period of Short Term Investment			3 months
Long Term Investment Maturity Minimum			12 months
JPR Royalty Sub LLC [Member]
Note 1 - Significant Accounting Policies and Concentrations of Risk (Details) [Line Items]
Revenue Recognition Royalty and Milestone Revenue Recognized						$ 30,000,000
Investments and Cash			$ 114,038,000
Securities Offered	$ 10,000
Restricted Cash and Cash Equivalents, Current			150,000	151,000
Royalty Revenue			3,025,000	2,562,000	3,317,000
Advertising Expense			290,000
Interest Expense			4,998,000	4,778,000	4,666,000
Amortization of Financing Costs			439,000	439,000	439,000
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments			5,487,000	5,294,000	$ (749,000)
Cash Collateral Margin Funds			$ 0	$ 0
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in Shares)			5,279	2,109	1,026

Note 1 - Significant Accounting Policies and Concentrations of Risk (Details) - Fair Value of the Company’s Investments by Type - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
US Government Agencies Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 20,307	$ 4,899
Accrued Interest	22	1
Gross Unrealized Gains		1
Gross Unrealized Losses	(23)	0
Estimated Fair Value	20,306	4,901
Corporate Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	27,152	8,528
Accrued Interest	151	47
Gross Unrealized Gains	5	2
Gross Unrealized Losses	(47)	(1)
Estimated Fair Value	27,261	8,576
Commercial Paper [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	11,838	5,994
Accrued Interest	6	0
Gross Unrealized Gains		2
Gross Unrealized Losses	(63)	0
Estimated Fair Value	11,781	5,996
Amortized Cost	59,297	19,421
Accrued Interest	179	48
Gross Unrealized Gains	5	5
Gross Unrealized Losses	(133)	(1)
Estimated Fair Value	$ 59,348	$ 19,473

Note 1 - Significant Accounting Policies and Concentrations of Risk (Details) - Scheduled Maturity for the Company’s Investments - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013
Scheduled Maturity for the Company’s Investments [Abstract]
Maturing in one year or less	$ 18,232	$ 16,891
Maturing after one year through two years	25,459	2,582
Maturing after two years	15,657
Total investments	$ 59,348	$ 19,473

Note 1 - Significant Accounting Policies and Concentrations of Risk (Details) - Summary of Receivables - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013
U.S. Department of Health and Human Services [Member] \| Billed Revenues [Member]
Note 1 - Significant Accounting Policies and Concentrations of Risk (Details) - Summary of Receivables [Line Items]
Receivables	$ 2,778	$ 1,573
U.S. Department of Health and Human Services [Member] \| Unbilled Revenues [Member]
Note 1 - Significant Accounting Policies and Concentrations of Risk (Details) - Summary of Receivables [Line Items]
Receivables	2,778	1,663
Shionogi & Co. Ltd. [Member] \| Unbilled Revenues [Member]
Note 1 - Significant Accounting Policies and Concentrations of Risk (Details) - Summary of Receivables [Line Items]
Receivables	1,071	452
Billed Revenues [Member]
Note 1 - Significant Accounting Policies and Concentrations of Risk (Details) - Summary of Receivables [Line Items]
Receivables	2,778	1,573
Unbilled Revenues [Member]
Note 1 - Significant Accounting Policies and Concentrations of Risk (Details) - Summary of Receivables [Line Items]
Receivables	$ 3,849	$ 2,115

Note 1 - Significant Accounting Policies and Concentrations of Risk (Details) - Inventory - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013
Inventory [Abstract]
Supplies		$ 263
Work in process	$ 267
Finished goods	416	3,980
Reserve for finished goods and supplies		$ (4,243)
Net inventories	$ 683

Note 1 - Significant Accounting Policies and Concentrations of Risk (Details) - Accrued Expenses - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013
Development Costs [Member]
Note 1 - Significant Accounting Policies and Concentrations of Risk (Details) - Accrued Expenses [Line Items]
Development costs	$ 4,232	$ 2,210
Compensation and benefits	2,105	1,527
Inventory	397
Professional fees	238	48
Duties and taxes	75	90
Other	4,676	1,867
	$ 11,723	$ 5,742

Note 1 - Significant Accounting Policies and Concentrations of Risk (Details) - Summary of Revenues - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
U.S. Department of Health and Human Services [Member]
Collaborative and other research and development revenues:
Collaborative and other research and development revenues	$ 9,366	$ 13,585	$ 14,026
Shionogi & Co. Ltd. [Member]
Collaborative and other research and development revenues:
Collaborative and other research and development revenues	1,184	1,184	1,184
Mundipharma [Member]
Collaborative and other research and development revenues:
Collaborative and other research and development revenues			7,766
Product sales, net	33
Royalty revenue	3,025	2,562	3,317
Collaborative and other research and development revenues	10,550	14,769	22,976
Total revenues	$ 13,608	$ 17,331	$ 26,293

Note 1 - Significant Accounting Policies and Concentrations of Risk (Details) - Restructuring Liability - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Balance at December 31	$ 1,604
Accruals		$ 1,662
Payments	(1,604)	(58)
Balance at December 31		1,604
Facility Closing [Member]
Restructuring Cost and Reserve [Line Items]
Balance at December 31	97
Accruals	(97)	97
Balance at December 31		97
Balance at December 31	1,701
Accruals	(97)	1,759
Payments	$ (1,604)	(58)
Balance at December 31		$ 1,701

Note 2 - Furniture and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Property, Plant and Equipment [Abstract]
Depreciation, Depletion and Amortization	$ 177	$ 304	$ 628

Note 2 - Furniture and Equipment (Details) - Furniture and Equipment - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Furniture and Equipment	$ 542	$ 600
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Furniture and Equipment	1,115	1,266
Software Development [Member]
Property, Plant and Equipment [Line Items]
Furniture and Equipment	1,423	1,448
Laboratory Equipment [Member]
Property, Plant and Equipment [Line Items]
Furniture and Equipment	5,786	5,721
Leased Equipment [Member]
Property, Plant and Equipment [Line Items]
Furniture and Equipment	63	63
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Furniture and Equipment	5,303	5,316
Furniture and Equipment	14,232	14,414
Less accumulated depreciation and amortization	(14,025)	(14,108)
Furniture and equipment, net	$ 207	$ 306

Note 3- Royalty Monetization (Details)		1 Months Ended			3 Months Ended	12 Months Ended
Note 3- Royalty Monetization (Details)	Mar. 09, 2011 USD ($)	Aug. 31, 2014 USD ($)	Jun. 30, 2014 USD ($)	Sep. 30, 2013 USD ($)	Mar. 31, 2014 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)	Dec. 31, 2012 USD ($)	Dec. 31, 2014 JPY (¥)	Sep. 30, 2014 USD ($)	Sep. 01, 2014 USD ($)	Sep. 03, 2013 USD ($)
Royalty Monetization [Member] \| JPR Royalty Sub LLC [Member]
Note 3- Royalty Monetization (Details) [Line Items]
Revenue Recognition Royalty and Milestone Revenue Recognized	$ 30,000,000
Revenue Recognition Royalty and Milestone Revenue Recognized Net	22,691,000
Transaction Costs	4,309,000
Interest Reserve	3,000,000
2013 Shortfall [Member] \| PhaRMA Notes [Member] \| JPR Royalty Sub LLC [Member]
Note 3- Royalty Monetization (Details) [Line Items]
Interest Payable										$ 222,000
PhaRMA Notes [Member] \| Currency Hedge Agreement [Member] \| JPR Royalty Sub LLC [Member]
Note 3- Royalty Monetization (Details) [Line Items]
Foreign Currency Exchange Rate, Translation						100			100
Payments for (Proceeds from) Hedge, Investing Activities						$ 1,950,000
Required Foreign Currency Hedge, Per Dollar (in Yen) \| ¥									¥ 100
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments						5,487	$ 5,294,000	$ (749,000)
Maximum Amount of Collateral Required to Post						11,700,000
PhaRMA Notes [Member] \| JPR Royalty Sub LLC [Member]
Note 3- Royalty Monetization (Details) [Line Items]
Interest Paid		$ 70,000	$ 1,882,000		$ 446,000
Interest Payable											$ 4,200,000
Notes Payable, Noncurrent							30,000,000
PhaRMA Notes [Member] \| JPR Royalty Sub LLC [Member]
Note 3- Royalty Monetization (Details) [Line Items]
Private Placement of Senior Secured Notes	$ 30,000,000
Debt Instrument, Interest Rate, Stated Percentage	14.00%
Interest Paid				$ 1,844,000
Interest Payable												$ 2,356,000
JPR Royalty Sub LLC [Member]
Note 3- Royalty Monetization (Details) [Line Items]
Revenue Recognition Royalty and Milestone Revenue Recognized	$ 30,000,000
Notes Payable, Noncurrent						0	30,000,000
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments						$ 5,487,000	$ 5,294,000	$ (749,000)

Note 4 - Lease Obligations and Other Contingencies (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2014 USD ($) ft²	Dec. 31, 2013 USD ($)	Dec. 31, 2012 USD ($)
Scenario, Forecast [Member] \| Birmingham Research Facility [Member]
Note 4 - Lease Obligations and Other Contingencies (Details) [Line Items]
Operating Leases, Future Minimum Payments Due	$ 5,148
Property Subject to Operating Lease [Member]
Note 4 - Lease Obligations and Other Contingencies (Details) [Line Items]
Area of Real Estate Property (in Square Feet) \| ft²	35
Operating Leases, Future Minimum Payments Due	$ 2,414
Operating Leases, Rent Expense, Net	$ 633	$ 526	$ 629

Note 4 - Lease Obligations and Other Contingencies (Details) - Minimum Payments under Operating Lease Obligations $ in Thousands	Dec. 31, 2014 USD ($)
Minimum Payments under Operating Lease Obligations [Abstract]
2015	$ 739
2016	383
2017	384
2018	356
2019	366
Thereafter	186
Total minimum payments	$ 2,414

Note 5 - Stockholders' Equity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		1 Months Ended		12 Months Ended
	Mar. 15, 2012	Jun. 30, 2014	Aug. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Nov. 06, 2013	Jul. 13, 2011
Stockholders' Equity Note [Abstract]
Maximum Aggregate Offering Price							$ 125,000
Stock Issued During Period, Shares, New Issues (in Shares)		11,500	4,600		2,883	4,516
Proceeds from Issuance of Common Stock		$ 115,000	$ 18,500	$ 106,600	$ 23,633	$ 17,805
Proceeds from Issuance or Sale of Equity		106,600
Share Price (in Dollars per share)	$ 5.23		$ 4.40		$ 1.85	$ 4.08
Stock Issued During Period, Shares for Over Allotment Option Exercised by Underwriter (in Shares)			600
Common Stock To Be Issued, Value		$ 70,000
Common Stock, Value, Issued				$ 720	$ 591			$ 70,000
Proceeds from Issuance of Shares under Incentive and Share-based Compensation Plans, Including Stock Options					$ 5,218
Stock Issued During Period, Shares, Employee Stock Ownership Plan (in Shares)	193
Annual Incentive Earned	$ 1,542
Income Taxes Paid	$ 535

Note 6 - Stock-Based Compensation (Details) $ / shares in Units, $ in Thousands		9 Months Ended	12 Months Ended
	Dec. 31, 2014 USD ($) $ / shares shares	Sep. 30, 2014 USD ($)	Dec. 31, 2014 USD ($) $ / shares shares	Dec. 31, 2013 USD ($) $ / shares shares	Dec. 31, 2012 USD ($) $ / shares shares	Dec. 31, 2011 shares
Employee Stock Option [Member] \| Grants Commencing March 1, 2011 [Member] \| Incentive Plan [Member]
Note 6 - Stock-Based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage			25.00%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			4 years
Employee Stock Option [Member] \| Performance-based Grants Made in August 2013 [Member] \| Incentive Plan [Member]
Note 6 - Stock-Based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage			50.00%
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) \| shares			1,032
Number of Milestones Achieved			2
Share-based Compensation Arrangement By Share-based Payment Award, Awards UnVested, Percentage			50.00%
Employee Stock Option [Member] \| Performance-based Grants Made in August 2013 Unvested Portion [Member] \| Incentive Plan [Member]
Note 6 - Stock-Based Compensation (Details) [Line Items]
Allocated Share-based Compensation Expense			$ 1,250
Employee Stock Option [Member] \| Performanced Based Grants Made In December 2014 [Member] \| Incentive Plan [Member]
Note 6 - Stock-Based Compensation (Details) [Line Items]
Share-based Compensation Arrangement By Share-based Payment Award, Awards UnVested, Percentage			100.00%
Employee Stock Option [Member] \| Minimum [Member] \| Incentive Plan [Member]
Note 6 - Stock-Based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term			5 years
Employee Stock Option [Member] \| Maximum [Member] \| Incentive Plan [Member]
Note 6 - Stock-Based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term			10 years
Employee Stock Option [Member] \| Non-employee Directors [Member] \| Incentive Plan [Member]
Note 6 - Stock-Based Compensation (Details) [Line Items]
Share Based Compensation Arrangement by Share Based Payment Award First Vesting Period after Grant Date			1 year
Stock Options and Restricted Stock [Member] \| Retention Grants Made in January 2013 [Member] \| Incentive Plan [Member]
Note 6 - Stock-Based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage			50.00%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			2 years
Incentive Plan [Member]
Note 6 - Stock-Based Compensation (Details) [Line Items]
Allocated Share-based Compensation Expense			$ 9,963	$ 4,253	$ 4,010
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term				5 years 73 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) \| $ / shares			$ 8.02	$ 1.28	$ 3.24
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value			$ 8,522	$ 738	$ 877
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	$ 33,698		$ 33,698
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value		$ 2,844		3,483	3,373
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number (in Shares) \| shares	8,580,000		8,580,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price (in Dollars per share) \| $ / shares	$ 6.27		$ 6.27
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term			6 years 219 days
Employee Stock Purchase Plan [Member]
Note 6 - Stock-Based Compensation (Details) [Line Items]
Allocated Share-based Compensation Expense			$ 214	115	157
Allocated Share-based Compensation Expense, Net of Tax			$ 214	$ 115	$ 157
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) \| shares	1,475,000		1,475,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in Shares) \| shares	538,000		538,000
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 (in Shares) \| shares			3,000
Share Based Compensation Arrangement by Share Based Payment Award Maximum Number of Shares per Employee Amount (in Shares) \| shares	25,000		25,000
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in Shares) \| shares			49,000	89,000	110,000
Employee Stock Ownership Plan (ESOP), Weighted Average Purchase Price of Shares Purchased (in Dollars per share) \| $ / shares			$ 6.29	$ 1.39	$ 2.93
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) \| $ / shares			$ 4.41	$ 1.27	$ 1.48
Number of Stock Based Compensation Plans			2
Allocated Share-based Compensation Expense			$ 10,177	$ 4,368	$ 4,167
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) \| shares				1,965,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) \| $ / shares				$ 7.76
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 9,987		$ 9,987
Employee Service Share Based Compensation Nonvested Awards Compensation Cost Expected to be Recognized for Remainder of Fiscal Year	4,101
Employee Service Share Based Compensation Nonvested Awards Compensation Cost Expected to be Recognized Year Two	2,968
Employee Service Share Based Compensation Nonvested Awards Compensation Cost Expected to be Recognized Year Three	2,502
Employee Service Share Based Compensation Nonvested Awards Compensation Cost Expected to be Recognized Year Four	$ 416
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in Shares) \| shares	2,362,000		2,362,000	1,082,000	2,815,000	2,009,000

Note 6 - Stock-Based Compensation (Details) - Stock-based Compensation Allocation - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 8,906	$ 3,664	$ 3,511
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	1,271	704	656
Stock-based compensation expense	$ 10,177	$ 4,368	$ 4,167

Note 6 - Stock-Based Compensation (Details) - Summary of Related Activity Under the Incentive Plan - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Summary of Related Activity Under the Incentive Plan [Abstract]
Awards Available	2,362	1,082	2,815
Options Outstanding	9,605	8,986	8,073
Weighted Average Exercise Price (in Dollars per share)	$ 6.21	$ 4.99	$ 6.09
Awards Available	3,750		1,700
Awards Available	(593)	(310)	(415)
Awards Available		53	86
Awards Available	(1,965)	(3,277)	(1,617)
Options Outstanding	1,965	3,277	1,617
Weighted Average Exercise Price (in Dollars per share)	$ 10.99	$ 3.05	$ 4.65
Options Outstanding	(1,258)	(563)	(350)
Weighted Average Exercise Price (in Dollars per share)	$ 4.78	$ 2.37	$ 1.58
Awards Available	88	1,801	1,052
Options Outstanding	(88)	(1,801)	(1,052)
Weighted Average Exercise Price (in Dollars per share)	$ 8.83	$ 7.22	$ 6.26

Note 6 - Stock-Based Compensation (Details) - Weighted Average Assumptions for Stock Option Awards Granted to Employees and Directors under the Incentive Plan	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Weighted Average Assumptions for Stock Option Awards Granted to Employees and Directors under the Incentive Plan [Abstract]
Expected Life	5 years 6 months	4 years 255 days	5 years 146 days
Expected Volatility	87.00%	84.00%	87.00%
Expected Dividend Yield	0.00%	0.00%	0.00%
Risk-Free Interest Rate	1.60%	0.70%	0.90%

Note 6 - Stock-Based Compensation (Details) - Number of Stock Option Awards Exercisable and their Weighted Average Exercise Price shares in Thousands	12 Months Ended
	Dec. 31, 2014 $ / shares shares
Exercise Price Range 01 [Member]
Note 6 - Stock-Based Compensation (Details) - Number of Stock Option Awards Exercisable and their Weighted Average Exercise Price [Line Items]
Lower Exercise Range	$ 0
Upper Exercise Range	$ 3
Number (in Shares) \| shares	2,236
Weighted Average Remaining Life	7 years 73 days
Weighted Average Exercise Price	$ 1.52
Exercisable-Number (in Shares) \| shares	1,145
Exercisable-Weighted Average Exercise Price	$ 1.59
Exercise Price Range 02 [Member]
Note 6 - Stock-Based Compensation (Details) - Number of Stock Option Awards Exercisable and their Weighted Average Exercise Price [Line Items]
Lower Exercise Range	3
Upper Exercise Range	$ 6
Number (in Shares) \| shares	3,214
Weighted Average Remaining Life	6 years 292 days
Weighted Average Exercise Price	$ 4.59
Exercisable-Number (in Shares) \| shares	1,955
Exercisable-Weighted Average Exercise Price	$ 4.35
Exercise Price Range 03 [Member]
Note 6 - Stock-Based Compensation (Details) - Number of Stock Option Awards Exercisable and their Weighted Average Exercise Price [Line Items]
Lower Exercise Range	6
Upper Exercise Range	$ 9
Number (in Shares) \| shares	1,380
Weighted Average Remaining Life	5 years 73 days
Weighted Average Exercise Price	$ 7.12
Exercisable-Number (in Shares) \| shares	1,197
Exercisable-Weighted Average Exercise Price	$ 7.11
Exercise Price Range 04 [Member]
Note 6 - Stock-Based Compensation (Details) - Number of Stock Option Awards Exercisable and their Weighted Average Exercise Price [Line Items]
Lower Exercise Range	9
Upper Exercise Range	$ 12
Number (in Shares) \| shares	2,315
Weighted Average Remaining Life	7 years 328 days
Weighted Average Exercise Price	$ 11.16
Exercisable-Number (in Shares) \| shares	554
Exercisable-Weighted Average Exercise Price	$ 11.62
Exercise Price Range 05 [Member]
Note 6 - Stock-Based Compensation (Details) - Number of Stock Option Awards Exercisable and their Weighted Average Exercise Price [Line Items]
Lower Exercise Range	12
Upper Exercise Range	$ 15
Number (in Shares) \| shares	456
Weighted Average Remaining Life	3 years 73 days
Weighted Average Exercise Price	$ 12.69
Exercisable-Number (in Shares) \| shares	365
Exercisable-Weighted Average Exercise Price	$ 12.53
Exercise Price Range 06 [Member]
Note 6 - Stock-Based Compensation (Details) - Number of Stock Option Awards Exercisable and their Weighted Average Exercise Price [Line Items]
Lower Exercise Range	15
Upper Exercise Range	$ 18
Number (in Shares) \| shares	4
Weighted Average Remaining Life	1 year
Weighted Average Exercise Price	$ 15.45
Exercisable-Number (in Shares) \| shares	4
Exercisable-Weighted Average Exercise Price	$ 15.45
Lower Exercise Range	0
Upper Exercise Range	$ 18
Number (in Shares) \| shares	9,605
Weighted Average Remaining Life	6 years 292 days
Weighted Average Exercise Price	$ 6.21
Exercisable-Number (in Shares) \| shares	5,220
Exercisable-Weighted Average Exercise Price	$ 5.73

Note 6 - Stock-Based Compensation (Details) - Changes in the Number and Weighted-Average Grant-Date Fair Value - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Changes in the Number and Weighted-Average Grant-Date Fair Value [Abstract]
Non-Vested Stock Option Awards	4,385	4,209
Weighted Average Grant-Date Fair Value	$ 4.27	$ 1.50
Stock option awards granted	1,965
Stock option awards granted	$ 7.76
Stock option awards vested	(1,789)
Stock option awards vested	$ 1.59

Note 7 - Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
Note 7 - Income Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Domestic Tax Authority [Member]
Note 7 - Income Taxes (Details) [Line Items]
Operating Loss Carryforwards	$ 356,686
State and Local Jurisdiction [Member]
Note 7 - Income Taxes (Details) [Line Items]
Operating Loss Carryforwards	361,572
Research Tax Credit Carryforward [Member]
Note 7 - Income Taxes (Details) [Line Items]
Tax Credit Carryforward, Amount	38,096
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	17,312	$ 8,567	$ 7,002
Employee Service Share-based Compensation, Tax Benefit Realized from Exercise of Stock Options	7,890
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	$ 0	$ 0	$ 0

Note 7 - Income Taxes (Details) - Differences Between the Company's Effective Tax Rate and the Statutory Tax Rate - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Differences Between the Company's Effective Tax Rate and the Statutory Tax Rate [Abstract]
Income tax benefit at federal statutory rate (35%)	$ (15,816)	$ (10,538)	$ (13,678)
State and local income taxes net of federal tax benefit	(1,286)	(839)	(1,470)
Permanent items	258	738	754
Rate change	22	1,892	1,147
Expiration of attribute carryforwards	373	242	5,135
Research and development tax credits	(748)	(1,206)	829
Other	(115)	1,144	281
Change in valuation allowance	$ 17,312	$ 8,567	$ 7,002

Note 7 - Income Taxes (Details) - Differences Between the Company's Effective Tax Rate and the Statutory Tax Rate (Parentheticals)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Differences Between the Company's Effective Tax Rate and the Statutory Tax Rate [Abstract]
Income tax benefit at federal statutory rate	35.00%	35.00%	35.00%

Note 7 - Income Taxes (Details) - Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits [Abstract]
Balance at	$ 284
Additions to current year tax positions	176	$ 43
Additions to tax positions of prior years	12	241
Balance at	$ 472	$ 284

Note 7 - Income Taxes (Details) - Components of Deferred Tax Assets and Liabilities - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013
Deferred tax assets:
Net federal and state operating losses	$ 135,922	$ 119,940
Research and development credits	38,096	37,348
Fixed assets	1,073	1,119
Reserve for inventories		1,612
Deferred revenue	3,798	2,151
Stock-based compensation	7,086	5,282
Other	1,178	311
Total deferred tax assets	187,153	167,763
Deferred tax liabilities:
Foreign currency derivative	(2,285)	(207)
Total deferred tax liabilities	(2,285)	(207)
Valuation allowance	$ (184,868)	$ (167,556)

Note 8 - Employee 401(k) Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Compensation and Retirement Disclosure [Abstract]
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 361	$ 313	$ 418

Note 9 - Collaborative and Other Research and Development Contracts (Details) $ in Thousands	1 Months Ended						6 Months Ended	9 Months Ended	12 Months Ended		50 Months Ended
	Feb. 24, 2011 USD ($)	May 31, 2010 USD ($)	Sep. 30, 2009 USD ($)	Jan. 31, 2007 USD ($)	Feb. 28, 2006 USD ($)	Jun. 30, 2000	Jun. 30, 2006 USD ($)	Sep. 30, 2014	Dec. 31, 2014 USD ($)	Dec. 31, 2012 USD ($)	Feb. 24, 2011 USD ($)	Nov. 11, 2011 USD ($)	Dec. 31, 2007 USD ($)
UpFront Payment [Member] \| Mundipharma [Member]
Note 9 - Collaborative and Other Research and Development Contracts (Details) [Line Items]
Deferred Revenue					$ 10,000
2007 Clinical Trial [Member] \| Mundipharma [Member]
Note 9 - Collaborative and Other Research and Development Contracts (Details) [Line Items]
Deferred Revenue													$ 5,000
Green Cross Corporation [Member]
Note 9 - Collaborative and Other Research and Development Contracts (Details) [Line Items]
Proceeds from License Fees Received							$ 250
Mundipharma [Member]
Note 9 - Collaborative and Other Research and Development Contracts (Details) [Line Items]
Upfront Payments Receivable Amount					$ 10,000
Potential Milestone Payments Receivable												$ 15,000
Unamortized Deferred Revenue Related To Amended And Restated Agreement										$ 7,766
Unamortized Deferred Expenses Related To Amended And Restated Agreement										$ 1,864
AECOM and IRL [Member]
Note 9 - Collaborative and Other Research and Development Contracts (Details) [Line Items]
Milestone Payment Minimum									$ 1,400
Milestone Payment Maximum									4,000
Annual License Fee Minimum									150
Annual License Fee Maximum									500
Advance Notice Period for Termination of Agreement						60 days
Stock Issued During Period Value for Modification of License Agreement		$ 5,911
Payments for Modification of License Agreement		$ 90
U.S. Department of Health and Human Services [Member]
Note 9 - Collaborative and Other Research and Development Contracts (Details) [Line Items]
Collaborative Agreement Contract Value				$ 102,661
Collaborative Agreement Additional Contract Value	$ 55,000		$ 77,191
Collaborative Agreement Adjusted Contract Value											$ 234,852
National Institute of Allergy and Infectious Diseases [Member]
Note 9 - Collaborative and Other Research and Development Contracts (Details) [Line Items]
Proceeds from Awards for Research and Development Contracts									5,000,000
Expected Receivable from Awards for Research and Development Contracts									$ 28,717,000
Collaborative Agreement Period of Contract									5 years
Collaboration Agreement Additional Payments Received									$ 22,302,000
UAB [Member]
Note 9 - Collaborative and Other Research and Development Contracts (Details) [Line Items]
Number of Agreements									2
Period of Agreement								25 years

Note 10 - Quarterly Financial Information (Unaudited) (Details) - Quarterly Financial Information (Unaudited) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
2014 Quarters
Revenues	$ 5,446	$ 3,238	$ 1,466	$ 3,458	$ 10,567	$ 2,389	$ 821	$ 3,554	$ 13,608	$ 17,331	$ 26,293
Net Loss	$ (11,672)	$ (8,731)	$ (14,649)	$ (10,137)	$ (5,429)	$ (8,001)	$ (12,172)	$ (4,506)	$ (45,189)	$ (30,108)	$ (39,081)
Basic and diluted net loss per share (in Dollars per share)	$ (0.16)	$ (0.12)	$ (0.23)	$ (0.17)	$ (0.09)	$ (0.14)	$ (0.23)	$ (0.09)	$ (0.68)	$ (0.55)	$ (0.79)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Label	Element	Value
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	$ 6.21
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	7,858,000