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Document And Entity Information - shares	3 Months Ended
Mar. 31, 2016	Apr. 30, 2016
Entity Registrant Name	BIOCRYST PHARMACEUTICALS INC
Entity Central Index Key	0000882796
Trading Symbol	bcrx
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	Yes
Entity Common Stock, Shares Outstanding (in shares)		73,692,799
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Collaboration Receivables [Member]
Assets
Receivables	$ 7,384	$ 6,243
Deferred Collaborative Revenue [Member]
Liabilities and Stockholders’ Equity
Deferred revenue	2,163	2,163
Cash and cash equivalents	12,902	28,899
Restricted cash	1,965	1,612
Investments	22,914	22,664
Inventory	1,949	1,612
Prepaid expenses and other current assets	3,221	2,674
Deferred collaboration expense	90	90
Total current assets	50,425	63,794
Investments	41,134	47,683
Property and equipment, net	8,362	5,149
Deferred collaboration expense	246	265
Other assets	2,714	5,468
Total assets	102,881	122,359
Accounts payable	7,691	9,307
Accrued expenses	17,328	16,237
Interest payable	7,974	6,746
Non-recourse notes payable	27,914	27,804
Total current liabilities	63,070	62,257
Deferred collaboration revenue	9,194	9,674
Deferred rent	313	329
Lease financing obligation	2,506	2,375
Stockholders’ equity:
Preferred stock, $0.001 par value; shares authorized — 5,000; no shares issued and outstanding
Common stock, $0.01 par value: shares authorized — 200,000; shares issued and outstanding — 73,693 in 2016 and 73,355 in 2015	737	734
Additional paid-in capital	560,762	558,113
Accumulated other comprehensive income (loss)	48	(206)
Accumulated deficit	(533,749)	(510,917)
Total stockholders’ equity	27,798	47,724
Total liabilities and stockholders’ equity	$ 102,881	$ 122,359

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenues
Product sales, net		$ 537
Royalty revenue	1,890	1,518
Collaborative and other research and development	2,930	4,771
Total revenues	4,820	6,826
Expenses
Cost of products sold		15
Research and development	20,579	17,120
General and administrative	3,212	4,061
Royalty	77	60
Total operating expenses	23,868	21,256
Loss from operations	(19,048)	(14,430)
Interest and other income	439	117
Interest expense	(1,470)	(1,315)
(Loss) gain on foreign currency derivative	(2,753)	464
Net loss	$ (22,832)	$ (15,164)
Basic and diluted net loss per common share (in dollars per share)	$ (0.31)	$ (0.21)
Weighted average shares outstanding (in shares)	73,601	72,341
Unrealized gain on available for sale investments	$ 254	$ 140
Comprehensive loss	$ (22,578)	$ (15,024)

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating activities
Net loss	$ (22,832,000)	$ (15,164,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	47,000	45,000
Stock-based compensation expense	2,645,000	2,259,000
Amortization of Debt Issuance Costs	110,000	110,000
Change in fair value of foreign currency derivative	2,753,000	(464,000)
Changes in operating assets and liabilities:
Receivables	(1,141,000)	3,896,000
Inventory	(337,000)	(527,000)
Prepaid expenses and other assets	(313,000)	1,848,000
Deferred collaboration expense	19,000	14,000
Accounts payable and accrued expenses	(541,000)	3,404,000
Interest payable	1,228,000	1,212,000
Deferred revenue	(480,000)	(359,000)
Net cash used in operating activities	(18,842,000)	(3,726,000)
Investing activities
Acquisitions of property and equipment	(3,260,000)	(565,000)
Change in restricted cash	(353,000)	(2,487,000)
Purchases of investments		(3,378,000)
Sales and maturities of investments	6,320,000	2,482,000
Net cash provided by (used in) investing activities	2,707,000	(3,948,000)
Financing activities
Sale of common stock, net		1,175,000
Net proceeds from common stock issued under stock-based compensation plans	7,000	326,000
Increase in lease financing obligation	131,000
Net cash provided by financing activities	138,000	1,501,000
Decrease in cash and cash equivalents	(15,997,000)	(6,173,000)
Cash and cash equivalents at beginning of period	28,899,000	54,540,000
Cash and cash equivalents at end of period	$ 12,902,000	$ 48,367,000

Note 1 - Significant Accounting Policies and Concentrations of Risk

3 Months Ended

Mar. 31, 2016

Notes to Financial Statements

Significant Accounting Policies [Text Block]

Note 1 — Significant Accounting Policies

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.

Based on its current operating plans, the Company expects it has sufficient liquidity, with its existing cash, restricted cash and investments of $78,915, to continue its planned operations through mid-2017. 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 mid-2017 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 products or 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 additional 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. The Company may issue securities, including common stock, preferred stock, depositary shares, stock purchase contracts, warrants and units, through private placement transactions or registered public offerings pursuant to its registration statements on Form S-3 initially filed with the Securities and Exchange Commission (“SEC”) on March 3, 2015 and 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

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 4, 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 (“U.S. GAAP”) for interim financial reporting and the instructions to Form 10-Q and do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. Such 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.

These financial statements should be read in conjunction with the financial statements for the year ended December 31, 2015 and the notes thereto included in the Company’s 2015 Annual Report on Form 10-K. Interim operating results are not necessarily indicative of operating results for the full year. The balance sheet as of December 31, 2015 has been derived from the audited consolidated financial statements included in the Company’s most recent Annual Report on Form 10-K.

Reclassifications

During the first quarter of 2016, the Company adopted Accounting Standards Update No. 2015-03,

Simplifying the Presentation of Debt Issuance Costs

. Accordingly, debt issuance costs of $2,196 classified as other current assets as of December 31, 2015 have been reclassified and netted against non-recourse notes payable to conform to the 2016 presentation.

Cash and Cash Equivalents

The Company generally considers cash equivalents to be all cash held in commercial checking accounts, certificates of deposit, money market accounts or investments in debt instruments with maturities of three 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 March 31, 2016 reflects $562 in royalty revenue paid by Shionogi & Co., Ltd. (“Shionogi”) designated for interest on the PhaRMA Notes (defined in Note 4) and $1,403 the Company is required to maintain as collateral for a letter of credit associated with the lease execution and build-out of its new Birmingham research facilities.

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 March 31, 2016, 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.

	March 31, 2016
	Amortized Cost		Accrued Interest		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Obligations of the U.S. Government and its agencies	$	21,666	$	53	$	15	$	(6	)	$	21,728
Corporate debt securities		20,718		94		23		(3	)		20,832
Certificates of deposit		21,438		32		26		(8	)		21,488

Total investments	$	63,822	$	179	$	64	$	(17	)	$	64,048

	December 31, 2015
	Amortized Cost		Accrued Interest		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Obligations of the U.S. Government and its agencies	$	26,557	$	88	$	—	$	(99	)	$	26,546
Corporate debt securities		21,820		184		—		(41	)		21,963
Certificates of deposit		21,884		21		5		(72	)		21,838

Total investments	$	70,261	$	293	$	5	$	(212	)	$	70,347

The following table summarizes the scheduled maturity for the Company’s investments at March 31, 2016 and December 31, 2015.

	2016		2015
Maturing in one year or less	$	22,914	$	22,664
Maturing after one year through two years		32,806		28,395
Maturing after two years		8,328		19,288

Total investments	$	64,048	$	70,347

Receivables from Collaborations

Receivables from collaborations are recorded for amounts due to the Company related to reimbursable research and development costs from the U.S. Department of Health and Human Services, royalty receivables from Shionogi and Seqirus UK Limited (“SUL”), and product sales to SUL. These receivables are evaluated to determine if any reserve or allowance should be established at each reporting date. At March 31, 2016 and December 31, 2015, the Company had the following receivables.

	March 31, 2016
	Billed		Unbilled		Total
U.S. Department of Health and Human Services	$	2,475	$	2,734	$	5,209
Shionogi & Co. Ltd.		1,685		—		1,685
Seqirus UK Limited		336		154		490

Total receivables	$	4,496	$	2,888	$	7,384

	December 31, 2015
	Billed		Unbilled		Total
U.S. Department of Health and Human Services	$	—	$	5,536	$	5,536
Shionogi & Co. Ltd.		469		—		469
Seqirus UK Limited		210		28		238
Total receivables	$	679	$	5,564	$	6,243

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

Inventory

At March 31, 2016 and December 31, 2015, the Company’s inventory consisted of RAPIVAB 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 U.S. Food and Drug Administration (“FDA”) approval of RAPIVAB, the Company began capitalizing costs associated with the production of RAPIVAB inventories.

The Company’s inventory consisted of the following at March 31, 2016 and December 31, 2015:

	2016		2015
Work in process	$	1,949	$	1,612

Inventories	$	1,949	$	1,612

Property and Equipment

Property and equipment are recorded at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Computer equipment is depreciated over a life of three 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. Property consists of a leased building which did not meet the sale-leaseback criteria and is recorded at its fair value, less depreciation. The building is being depreciated over a period equal to the expected term of the related lease.

In accordance with U.S. GAAP, the Company periodically reviews its property and equipment for impairment when events or changes in circumstances indicate that the carrying amount of such assets may not 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. Property 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 selling, general and administrative expenses when incurred as recoverability of such expenditures is uncertain.

Accrued Expenses

The Company generally enters into contractual agreements with third-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. As of March 31, 2016 and December 31, 2015, 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 Income (Loss)

Accumulated other comprehensive income (loss) is comprised of unrealized gains and losses on available-for-sale investments and is disclosed as a separate component of stockholders’ equity. Amounts reclassified from accumulated other comprehensive income (loss) are recorded as interest and other income on the Consolidated Statements of Comprehensive Loss. No reclassifications out of accumulated other comprehensive income (loss) were recorded during the three months ended March 31, 2016. During the three months ended March 31, 2015, realized gains of $8 were reclassified out of accumulated other comprehensive income (loss).

Revenue Recognition

The Company recognizes revenues from collaborative and other research and development arrangements, royalties 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. Revisions to revenue or profit estimates as a result of changes in the estimated revenue period are recognized prospectively.

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

For arrangements that involve the delivery of more than one element, each product, service and/or right to use assets is evaluated to determine whether it qualifies as a separate unit of accounting. This determination is based on whether the deliverable has “stand-alone value” to the customer. The consideration that is fixed or determinable is then allocated to each separate unit of accounting based on the relative selling price of each deliverable. The estimated selling price of each deliverable is determined using the following hierarchy of values: (i) vendor-specific objective evidence of fair value, (ii) third-party evidence of selling price (“TPE”) and (iii) best estimate of selling price (“BESP”). The BESP reflects our best estimate of what the selling price would be if the deliverable was regularly sold by the Company on a stand-alone basis. In most cases the Company expects to use TPE or BESP for allocating consideration to each deliverable. The consideration allocated to each unit of accounting is recognized as the related goods or services are delivered, limited to the consideration that is not contingent upon future deliverables. Analyzing the arrangement to identify deliverables requires the use of judgment, and each deliverable may be an obligation to deliver services, a right or license to use an asset, or another performance obligation.

In June 2015, the Company entered into a License Agreement (the “SUL Agreement”) granting SUL and its affiliates worldwide rights, excluding Israel, Japan, Korea and Taiwan, to develop, manufacture and commercialize RAPIVAB. The SUL Agreement provides for various types of payments, including a non-refundable upfront fee, milestone payments, and future royalties. Analysis of the SUL Agreement identified three deliverables: (i) license rights, (ii) inventory and (iii) regulatory support to obtain Canadian and European Union (“EU”) marketing approvals. The Company received an upfront payment of $33,740 from SUL, of which $7,000 was determined to be contingent upon EU marketing approval and will be deferred until that time. Approximately $21,777 of the upfront payment was allocated to the license rights and recognized as revenue in the second quarter. Approximately $3,740 of the upfront payment was allocated to the pending sale of inventory and was recognized during the third quarter, when the inventory transfer was completed. Approximately $1,223 of the revenue from the SUL Agreement will be recognized over the expected period of involvement in these regulatory support activities.

Milestone payments are recognized as licensing revenue upon the achievement of specified milestones if (i) the milestone is substantive in nature and the achievement of the milestone was not reasonably assured at the inception of the agreement; and (ii) the fees are non-refundable. Any milestone payments received prior to satisfying these revenue recognition criteria are recorded as deferred revenue.

Under the terms of the SUL Agreement, the Company may receive up to $12,000 in additional payments related to the successful achievement of regulatory milestones, including marketing approval (i) by the FDA for a pediatric indication, (ii) by the EMA for an adult indication in the EU and (iii) by Health Products and Food Branch of Health Canada (“Health Canada”) for an adult indication in Canada. The Company evaluated each event based payment under the provisions of ASU 2010-17,

Milestone Method of Revenue Recognition

, and determined that each event based payment met the criteria to be considered substantive and represents a milestone under the milestone method of accounting. No event based payments were achieved during the periods presented.

Reimbursements received for direct out-of-pocket expenses related to research and development costs are recorded as revenue in the Consolidated Statements of Comprehensive Loss rather than as a reduction in expenses. Under the Company’s contracts with the Biomedical Advanced Research and Development Authority within the United States Department of Health and Human Services (”BARDA/HHS”) and the National Institute of Allergy and Infectious Diseases (“NIAID/HHS”), revenue is recognized as reimbursable direct and indirect costs are incurred.

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 is 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, and prior to the SUL Agreement, the Company sold RAPIVAB to specialty distributors, who in turn, sell to physician offices, hospitals and federal, state and commercial health care organizations. With the completion of the SUL worldwide license of RAPIVAB, SUL will be responsible for sales of RAPIVAB, other than U.S. Government stockpiling sales. With the completion of the SUL collaboration, all peramivir sales (i.e., RAPIVAB, RAPIACTA, and PERAMIFLU) will be made by the Company’s partners, except for U.S. Government stockpiling sales, and the Company will be reliant on these partners to generate sales.

Sales deductions consist of statutory rebates to state Medicaid, Medicare and other government agencies and sales discounts (including trade discounts and distribution service fees). These deductions are recorded as reductions from revenue from RAPIVAB in the same period as the related sales with estimates of future utilization derived from historical experience adjusted to reflect known changes in the factors that impact such reserves.

The Company 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. Externally 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 require 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.

The Company recorded the following revenues for the three months ended March 31, 2016 and 2015:

	2016		2015
Product sales, net	$	—	$	537
Royalty revenue		1,890		1,518
Collaborative and other research and development revenues:
U.S. Department of Health and Human Services		2,324		4,475
Shionogi & Co., Ltd.		296		296
Seqirus UK Limited		310		—
Total collaborative and other research and development revenues		2,930		4,771

Total revenues	$	4,820	$	6,826

Advertising

The Company engages in very limited distribution and direct-response advertising when promoting RAPIVAB. Advertising and promotional costs are expensed as the costs are incurred.

Research and Development Expenses

The Company’s research and development costs are charged to expense when incurred. Research and development expenses include all direct and indirect development costs related to the development of the Company’s portfolio of product candidates. Advance payments for goods or services that will be used or rendered for future research and development activities are deferred and capitalized. Such amounts are recognized as expense when the related goods are delivered or the related services are performed. Research and development expenses include, among other items, personnel costs, including salaries and benefits, manufacturing costs, clinical, regulatory, and toxicology services performed by CROs, materials and supplies, and overhead allocations consisting of various administrative and facilities related costs. Most of the Company’s manufacturing and clinical and preclinical studies are performed by third-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. In addition, we have outstanding performance-based stock options for which no compensation expense is recognized until “performance” is deemed to have occurred.

Interest Expense and Deferred Financing Costs

Interest expense for the three months ended March 31, 2016 and 2015 includes $1,338 and $1,315, respectively, related to the issuance of the PhaRMA Notes (defined in Note 4). Costs directly associated with the issuance of the PhaRMA Notes have been capitalized and are netted against the non-recourse notes payable 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 $110 for each of the three months ended March 31, 2016 and 2015.

Lease Financing Obligation

Based on the terms of the lease agreement for the new research facility in Birmingham, Alabama, the Company had construction period risks during the construction period and the Company was deemed the owner of the building (for accounting purposes only) during the construction period. Accordingly, the Company recorded an asset of $1,589, representing the Company’s leased portion of the building and recorded a corresponding liability. Upon completion of leasehold improvement construction, the Company will not meet the sale-leaseback criteria for de-recognition of the building asset and liability. Therefore, the lease is accounted for as a financing obligation. The asset will be depreciated over the expected duration of the lease of 20.5 years, and rental payments will be treated as principal and interest payments on the lease financing obligation liability. The underlying accounting for this transaction has no impact on cash flows associated with the underlying lease or construction in process. Interest expense for the three months ended March 31, 2016 includes $132 related to the lease financing obligation.

At March 31, 2016, the lease financing obligation balance was $2,506 and was recorded as a long term liability on the consolidated balance sheets. The remaining future minimum payments under the lease financing obligation are $4,839.

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 three months ended March 31, 2016 and 2015 resulted in a loss of $2,753 and a gain of $464, respectively. Mark-to-market adjustments are determined by a third party pricing model that 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 U.S. GAAP. The Company is also required to post collateral in connection with the mark-to-market adjustments based on thresholds defined in the Currency Hedge Agreement. As of March 31, 2016 and December 31, 2015, no hedge collateral was posted under the agreement.

Net Loss Per Share

Net loss per share is based upon the weighted average number of common shares outstanding during the period. Diluted loss per share is equivalent to basic net loss per share for all periods presented herein because common equivalent shares from unexercised stock options and common shares expected to be issued under the Company’s employee stock purchase plan were anti-dilutive. The calculation of diluted earnings per share for the three months ended March 31, 2016 and 2015 does not include 1,330 and 3,529, respectively, of such potential common shares, as their impact would be anti-dilutive.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the financial statements. Actual results could differ from those estimates.

Significant Customers and Other Risks

Significant Customers

Prior to the SUL Agreement, the Company relied primarily on three 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 to date and accounted for predominantly all of the Company’s outstanding receivables from product sales. The loss of one or more of these specialty distributors as a customer could negatively impact the commercialization of RAPIVAB. However, the Company will utilize these specialty distributors on a limited basis subsequent to the SUL collaboration as SUL, and other peramivir collaboration partners, will be responsible for commercial sales on a worldwide basis. In addition, in connection with the SUL collaboration, all peramivir sales (i.e., RAPIVAB, RAPIACTA, and PERAMIFLU) will be made by the Company’s partners and the Company will be reliant on these partners to generate sales and remit cash to satisfy receivables.

The Company’s primary source of revenue that has an underlying cash flow stream is the reimbursement of RAPIVAB and BCX4430 development expenses earned under 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 RAPIVAB 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 and BARDA/HHS BCX4430 contracts 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 by Shionogi; 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. Further, 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 active pharmaceutical ingredient and finished drug product manufacturing of RAPIVAB, as well as for its other product candidates in development. Delays in the manufacture or distribution of any product could adversely impact the commercial revenue and future procurement stockpiling of RAPIVAB or the Company’s product candidates in development.

Credit Risk

Cash equivalents and investments are financial instruments which potentially subject the Company to concentration of risk to the extent recorded on the Consolidated Balance Sheets. The Company deposits excess cash with major financial institutions in the United States. Balances may 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 and collaborative partner 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.

Recent Accounting Pronouncements

In March 2016, the Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2016-09:

Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting

(“ASU 2016-09”). The amendments in this update simplify several aspects of the accounting for employee share-based payment transactions, including the accounting for income taxes, forfeitures and statutory tax withholding requirements, as well as classification in the statement of cash flows. ASU 2016-09 will be effective for the Company in fiscal year 2017, but early adoption is permitted. The Company is currently evaluating the impact of this update on its consolidated financial statements.

In February 2016, the FASB issued Accounting Standards Update No. 2016-02:

Leases (Topic 842)

(“ASU 2016-02”). The amendments in this update require lessees, among other things, to recognize lease assets and lease liabilities on the balance sheet for those leases classified as operating leases under previous authoritative guidance. This update also introduces new disclosure requirements for leasing arrangements. ASU 2016-02 will be effective for the Company in fiscal year 2019, but early adoption is permitted. The Company is currently evaluating the impact of this update on its consolidated financial statements.

In January 2016, the FASB issued Accounting Standards Update No. 2016-01:

Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities

(“ASU 2016-01”). The amendments in this update address certain aspects of recognition, measurement, presentation and disclosure of financial instruments. In particular, the amendments in this update supersede, for public business entities, the requirement to disclose the methods and significant assumptions used in calculating the fair value of financial instruments required to be disclosed for financial instruments measured at amortized cost on the balance sheet. ASU 2016-01 will be effective for the Company in fiscal year 2018, but early adoption is permitted. The Company does not expect this standard to have a material impact on its consolidated financial statements.

In July 2015, the FASB issued Accounting Standards Update No. 2015-11:

Inventory - Simplifying the Measurement of Inventory

(“ASU 2015-11”), which changes the measurement principle for inventory from the lower of cost or market to the lower of cost and net realizable value. ASU 2015-11 defines net realizable value as the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. The update does not apply to inventory that is measured using last-in, first-out or the retail inventory method. The update applies to all other inventory, which includes inventory that is measured using first-in, first-out or average cost methods. The amendments in ASU 2015-11 will be effective for the Company for fiscal years, and the interim periods within those years, beginning after December 15, 2016. The amendments must be applied prospectively and early adoption is permitted. The Company does not expect this standard to have a material impact on its consolidated financial statements.

In April 2015, the FASB issued Accounting Standards Update No. 2015-03,

Simplifying the Presentation of Debt Issuance Costs

(“ASU 2015-03”). This standard amends existing guidance to require the presentation of debt issuance costs in the balance sheet as a deduction from the carrying amount of the related debt liability instead of a deferred charge. It is effective for annual reporting periods beginning after December 15, 2015 and requires retrospective application for all periods presented. The Company adopted ASU 2015-03 in the first quarter of 2016. Adoption did not have a material impact on its consolidated financial statements.

In August 2014, the FASB issued Accounting Standards Update 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

(“ASU 2014-15”)

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. ASU 2014-15 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 this standard will have on its financial statements and disclosures.

In May 2014, the FASB issued Standards Update No. 2014-09 –

Revenue from Contracts with Customers

(“ASU 2014-09”), 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. ASU 2014-09 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. In July 2015, the FASB finalized a one year delay in the effective date of this standard, which will now be effective January 1, 2018; however, early adoption is permitted any time after the original effective date, January 1, 2017. 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 standard will have on its consolidated financial statements.

Note 3 - Collaborative and Other Research and Development Contracts	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Collaborative Arrangement Disclosure [Text Block]	Note 3 — Collaborative and Other Research and Development Contracts U.S. Department of Health and Human Services (“BARDA/HHS”). On March 31, 2015, the Company announced that BARDA/HHS had awarded the Company a contract for the continued development of BCX4430 as a potential treatment for diseases caused by RNA pathogens, including filoviruses. This BARDA/HHS contract includes a base contract of $13,314 to support BCX4430 drug manufacturing, as well as $22,855 in additional development options that can be exercised by the government, bringing the potential value of the contract to $36,169. As of March 31, 2016, a total of $17,623 has been awarded under exercised options within this 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, 2015 could be up to $34,002, if all contract options are exercised by NIAID/HHS, over a five year period. The goals of this contract, including amendments, are to file IND applications for intravenous and intramuscular BCX4430 for the treatment of Marburg virus disease, to study BCX4430 as a treatment for Ebola virus disease and to conduct an initial Phase 1 human clinical trial. As of March 31, 2016, a total of $29,875 has been awarded under exercised options within this 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 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. Seqirus UK Limited (“SUL”). On June 16, 2015, the Company and Seqirus UK Limited ("SUL"), a limited company organized under the laws of the United Kingdom and a subsidiary of CSL Limited, a company organized under the laws of Australia, entered into a License Agreement (the "SUL Agreement") granting SUL and its affiliates worldwide rights to develop, manufacture and commercialize RAPIVAB (peramivir injection) for the treatment of influenza except for the rights to conduct such activities in Israel, Japan, Korea and Taiwan (the permitted geographies together constituting the "Territory"). RAPIVAB is an intravenous treatment for acute uncomplicated influenza and is currently licensed for use in the United States, Japan and Korea. RAPIVAB is the first and only intravenous influenza treatment in the world and was approved by the FDA in December 2014 for the treatment of acute uncomplicated influenza in patients 18 years and older who have been symptomatic for no more than two days. The Company retains all rights and associated economics to procure pandemic stockpiling orders for RAPIVAB from the U.S. Government, while SUL has the right to pursue government stockpiling outside the U.S. Pursuant to the SUL Agreement, RAPIVAB will be commercialized by CSL's subsidiary, SUL, which specializes in influenza prevention through the supply of seasonal and pandemic vaccine to global markets. SUL will manufacture, commercialize and exercise decision-making authority with respect to the development and commercialization of RAPIVAB within the Territory and be responsible for all related costs, including sales and promotion. In December 2013, the Company submitted an NDA for RAPIVAB to the FDA. Under the terms of the SUL Agreement, the Company is responsible for fulfilling all post-marketing approval commitments in connection with the FDA's approval of the NDA, and upon fulfillment will transfer ownership of and financial responsibility for the NDA to SUL. Pursuant to potential rights to sell RAPIVAB in Canada and the EU, the Company is also responsible for regulatory filings and interactions with the Health Canada and the European Medicines Agency ("EMA") until marketing approval for RAPIVAB is obtained and assigned to SUL. In accordance with the SUL Agreement, the Company and SUL formed a joint steering committee, composed of an equal number of representatives from each party, to oversee, review and coordinate the conduct and progress of the commercialization of RAPIVAB in the Territory and any additional development. Under the terms of the SUL Agreement, the Company received an upfront payment of $33,740, and may receive up to $12,000 in additional milestone payments related to the successful achievement of regulatory milestones, including marketing approval (i) by the FDA for a pediatric indication, (ii) by the EMA for an adult indication in the EU and (iii) by Health Canada for an adult indication in Canada. The Company is also entitled under the SUL Agreement to receive tiered royalties at a percentage rate beginning in the mid-teens contingent upon meeting minimum thresholds of net sales, as well as a low-thirties percentage of the gross profit from government stockpiling purchases made outside the U.S. Specifically, the Company receives tiered royalties at a percentage rate in the mid-teens to low-forties on net sales in the U.S. during a Contract Year (defined as July 1 - June 30) and tiered royalties at a percentage rate in the mid-teens to mid-twenties on net sales in the Territory, other than in the U.S., during a Calendar Year, each subject to certain downward adjustments for circumstance or events impacting the overall market opportunity. SUL's royalty payment obligations commence on the date of the SUL Agreement and expire, on a country-by-country basis, upon the later of (i) the expiration of legal exclusivity in such country and (ii) ten years from the date of the SUL Agreement. The Company developed RAPIVAB 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 SUL. 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. Shionogi has commercially launched peramivir under the commercial name RAPIACTA in Japan. Shionogi submitted an NDA to the Taiwan FDA in late 2013. 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. Under the terms of the license agreement, as amended, Mundipharma obtained rights to forodesine in markets across Europe, Asia, and Australasia in exchange for a $10,000 up-front payment. 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. On January 6, 2014, the Carbohydrate Chemistry Research Team from Callaghan Innovation Research Limited, formerly Industrial Research Limited, transferred to Victoria University of Wellington (“VUW”) to establish the Ferrier Research Institute. The intellectual property rights relating to this research team, and the contracts relating to that intellectual property were transferred to a wholly owned subsidiary of VUW, including the contracts to which BioCryst is a party. The parties executed novation agreements in order to effectuate the transfer. Except for a substitution of parties, the terms and conditions of the contracts are substantially the same. 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, Green Cross and SUL agreements, or commercializes products related to these programs, the Company will owe sublicense fees or royalties on amounts it receives.

Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2016

Accounting Policies [Abstract]

Description of Company [Policy Text Block]

The Company

Basis of Accounting, Policy [Policy Text Block]

Basis of Presentation

Reclassification, Policy [Policy Text Block]

Reclassifications

During the first quarter of 2016, the Company adopted Accounting Standards Update No. 2015-03,

Simplifying the Presentation of Debt Issuance Costs

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

	March 31, 2016
	Amortized Cost		Accrued Interest		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Obligations of the U.S. Government and its agencies	$	21,666	$	53	$	15	$	(6	)	$	21,728
Corporate debt securities		20,718		94		23		(3	)		20,832
Certificates of deposit		21,438		32		26		(8	)		21,488

Total investments	$	63,822	$	179	$	64	$	(17	)	$	64,048

	December 31, 2015
	Amortized Cost		Accrued Interest		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Obligations of the U.S. Government and its agencies	$	26,557	$	88	$	—	$	(99	)	$	26,546
Corporate debt securities		21,820		184		—		(41	)		21,963
Certificates of deposit		21,884		21		5		(72	)		21,838

Total investments	$	70,261	$	293	$	5	$	(212	)	$	70,347

The following table summarizes the scheduled maturity for the Company’s investments at March 31, 2016 and December 31, 2015.

	2016		2015
Maturing in one year or less	$	22,914	$	22,664
Maturing after one year through two years		32,806		28,395
Maturing after two years		8,328		19,288

Total investments	$	64,048	$	70,347

Receivables, Policy [Policy Text Block]

Receivables from Collaborations

	March 31, 2016
	Billed		Unbilled		Total
U.S. Department of Health and Human Services	$	2,475	$	2,734	$	5,209
Shionogi & Co. Ltd.		1,685		—		1,685
Seqirus UK Limited		336		154		490

Total receivables	$	4,496	$	2,888	$	7,384

	December 31, 2015
	Billed		Unbilled		Total
U.S. Department of Health and Human Services	$	—	$	5,536	$	5,536
Shionogi & Co. Ltd.		469		—		469
Seqirus UK Limited		210		28		238
Total receivables	$	679	$	5,564	$	6,243

Receivables from Product Sales

Inventory, Policy [Policy Text Block]

Inventory

During 2014, in connection with the U.S. Food and Drug Administration (“FDA”) approval of RAPIVAB, the Company began capitalizing costs associated with the production of RAPIVAB inventories.

The Company’s inventory consisted of the following at March 31, 2016 and December 31, 2015:

	2016		2015
Work in process	$	1,949	$	1,612

Inventories	$	1,949	$	1,612

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

Property 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.

Income Tax, Policy [Policy Text Block]

Income Taxes

Comprehensive Income, Policy [Policy Text Block]

Accumulated Other Comprehensive Income (Loss)

Revenue Recognition, Policy [Policy Text Block]

Revenue Recognition

Collaborative and Other Research and Development Arrangements and Royalties

Milestone Method of Revenue Recognition

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.

The Company recorded the following revenues for the three months ended March 31, 2016 and 2015:

	2016		2015
Product sales, net	$	—	$	537
Royalty revenue		1,890		1,518
Collaborative and other research and development revenues:
U.S. Department of Health and Human Services		2,324		4,475
Shionogi & Co., Ltd.		296		296
Seqirus UK Limited		310		—
Total collaborative and other research and development revenues		2,930		4,771

Total revenues	$	4,820	$	6,826

Advertising

The Company engages in very limited distribution and direct-response advertising when promoting RAPIVAB. Advertising and promotional costs are expensed as the costs are incurred.

Research and Development Expense, Policy [Policy Text Block]

Research and Development Expenses

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

Lease, Policy [Policy Text Block]

Lease Financing Obligation

Currency Hedge Agreement [Policy Text Block]

Currency Hedge Agreement

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

Credit Risk

New Accounting Pronouncements, Policy [Policy Text Block]

Recent Accounting Pronouncements

In March 2016, the Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2016-09:

Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting

In February 2016, the FASB issued Accounting Standards Update No. 2016-02:

Leases (Topic 842)

In January 2016, the FASB issued Accounting Standards Update No. 2016-01:

Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities

In July 2015, the FASB issued Accounting Standards Update No. 2015-11:

Inventory - Simplifying the Measurement of Inventory

In April 2015, the FASB issued Accounting Standards Update No. 2015-03,

Simplifying the Presentation of Debt Issuance Costs

In August 2014, the FASB issued Accounting Standards Update 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

(“ASU 2014-15”)

In May 2014, the FASB issued Standards Update No. 2014-09 –

Revenue from Contracts with Customers

Note 1 - Significant Accounting Policies and Concentrations of Risk (Details Textual) - USD ($) shares in Thousands	1 Months Ended	3 Months Ended		12 Months Ended
	Jun. 30, 2015	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Mar. 09, 2011
Currency Hedge Agreement [Member]
Collateral Already Posted, Aggregate Fair Value		$ 0		$ 0
Foreign Exchange Contract [Member] \| Not Designated as Hedging Instrument [Member]
Derivative, Loss on Derivative		2,753,000
Derivative, Gain on Derivative			$ 464,000
JPR Royalty Sub LLC [Member]
Revenue Recognition Royalty and Milestone Revenue Recognized					$ 30,000,000
Debt Issuance Costs Reclassifed from Other Current Assets [Member] \| December 31, 2015 [Member]
Prior Period Reclassification Adjustment		2,196,000
Royalty Receivable [Member]
Restricted Cash and Cash Equivalents, Current		562,000
Collateral for Credit [Member]
Restricted Cash and Cash Equivalents		$ 1,403,000
Maximum [Member]
Maturity Period of High Quality Marketable Securities		3 years
Average Maturity Period of High Quality Marketable Securities		1 year 180 days
Maturity Period of Short Term Investment		1 year
Average Maturity for Portfolio Investments				1 year 180 days
Minimum [Member]
Maturity Period of Short Term Investment		90 days
Long-term Investment Maturity, Minimum		1 year
Computer Equipment [Member]
Property, Plant and Equipment, Useful Life		3 years
Laboratory Equipment, Office Equipment and Software [Member]
Property, Plant and Equipment, Useful Life		5 years
Furniture and Fixtures [Member]
Property, Plant and Equipment, Useful Life		7 years
Leasehold Improvements [Member] \| Birmingham Research Facility [Member]
Property, Plant and Equipment, Useful Life		20 years 182 days
Property, Plant and Equipment, Gross		$ 1,589,000
Lease Financing Obligation, Net of Current		2,506,000
Agreement [Member] \| CSL [Member] \| RAPIVABMember \| Contingent upon EU Marketing Approval [Member]
Proceeds from License Fees Received	$ 7,000,000
Agreement [Member] \| CSL [Member] \| RAPIVABMember \| Revenue from Sale of Inventory to be Recognized When the Inventory Transfer Is Complete [Member]
Deferred Revenue, Additions	3,740,000
Agreement [Member] \| CSL [Member] \| RAPIVABMember \| Regulatory Support Revenue for Canadian and EU Marketing Approvals, Portion Recognized Ratably Over Expected Period of Involvement [Member]
Deferred Revenue, Additions	1,223,000
Agreement [Member] \| CSL [Member] \| RAPIVABMember
Proceeds from License Fees Received	33,740,000
Revenues	21,777,000
Milestone Payment Maximum	$ 12,000,000
RAPIVABMember \| Customer Concentration Risk [Member] \| Sales Revenue, Product Line [Member]
Concentration Risk, Percentage				90.00%
PhaRMA Notes Member]
Interest Expense		1,338,000	1,315,000
Birmingham Research Facility [Member]
Interest Expense		132,000
Capital Leases, Future Minimum Payments Due		4,839,000
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax		0	8,000
Amortization of Debt Issuance Costs		110,000	110,000
Investments and Cash		$ 78,915,000
Maturity of Investments		3 years
Restricted Cash and Cash Equivalents, Current		$ 1,965,000		$ 1,612,000
Revenues		4,820,000	6,826,000
Interest Expense		1,470,000	$ 1,315,000
Lease Financing Obligation, Net of Current		$ 2,506,000		$ 2,375,000
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		1,330	3,529

Note 2 - Stock-Based Compensation (Details Textual) shares in Thousands, $ in Thousands	1 Months Ended		3 Months Ended
	Dec. 31, 2014 shares	Aug. 31, 2013 shares	Mar. 31, 2016 USD ($) shares	Mar. 31, 2015 USD ($)	Dec. 31, 2015 shares
Incentive Plan [Member] \| Employee Stock Option [Member] \| Vest 25% Each Year Until Fully Vested [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage			25.00%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			4 years
Incentive Plan [Member] \| Employee Stock Option [Member] \| Non-employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award, First Vesting Period After Grant Date			1 year
Incentive Plan [Member] \| Employee Stock Option [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term			5 years
Incentive Plan [Member] \| Employee Stock Option [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term			10 years
Incentive Plan [Member] \| Stock Options and Restricted Stock [Member] \| Vest 50% Each Year Until Fully Vested [Member]
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] \| Performance Shares [Member] \| Vest Upon Successful Completion of Specific Development Milestones [Member] \| August 2013 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage			75.00%
Number of Milestones Achieved			3
Share-based Compensation Arrangement by Shar-based Payment Award, Awards Unvested, Percentage			25.00%
Incentive Plan [Member] \| Performance Shares [Member] \| Vest Upon Successful Completion of Specific Development Milestones [Member] \| December 2014 [Member]
Share-based Compensation Arrangement by Shar-based Payment Award, Awards Unvested, Percentage			100.00%
Incentive Plan [Member] \| Performance Shares [Member] \| Vest Upon Successful Completion of Specific Development Milestones [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross \| shares	1,250	1,032
Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate			0.00%
Allocated Share-based Compensation Expense			$ 2,556	$ 2,165
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant \| shares			127		16
Employee Stock Purchase Plan [Member]
Allocated Share-based Compensation Expense			$ 89	94
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized \| shares			1,475
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant \| shares			463
Percentage of Salary to Purchase Common Stock, Maximum			15.00%
Percentage of Common Stock Shares, Beginning			85.00%
Percentage of Common Stock Shares, Ending			85.00%
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Number of Shares Per Employee \| shares			3
Shar-based Compensation Arrangement by Shar-based Payment Award, Maximum Number of Shares Per Employee, Amount			$ 25
Stock Issued During Period, Shares, Employee Stock Purchase Plans \| shares			34
Number of Stock-based Compensation Plans			2
Allocated Share-based Compensation Expense			$ 2,645	$ 2,259
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized			16,164
Employee Service Share-based Compensation Nonvested Awards Compensation Cost Expected to be Recognized For Remainder of Fiscal Year			4,840
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Expected to be Recognized Year Two			5,856
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Expected to be Recognized Year Three			3,796
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Expected to be Recognized Year Four			$ 1,672

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	73,693,000	73,355,000
Common stock, shares outstanding (in shares)	73,693,000	73,355,000

Note 4 - Royalty Monetization	3 Months Ended
Note 4 - Royalty Monetization	Mar. 31, 2016
Notes to Financial Statements
Royalty Monetization [Text Block]	Note 4 — 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 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. On September 1, 2014, Royalty Sub was unable to pay the full amount of interest payable to avoid an event of default. Accordingly, the PhaRMA Notes and related accrued interest have been classified as current liabilities on the 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. As of March 31, 2016, the PhaRMA Notes remain in default. As of March 31, 2016, 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 2016 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 for the three months ended March 31, 2016 and 2015 resulted in a loss of $2,753 and a gain of $464, respectively. The Company is also required to post collateral in connection with the mark-to-market adjustments based on defined thresholds. As of March 31, 2016 and December 31, 2015, no collateral was posted under the Currency Hedge Agreement. The Company will not be required to post collateral exceeding the maximum premium payments remaining payable under the Currency Hedge Agreement. As of March 31, 2016, the maximum amount of hedge collateral the Company may be required to post is $9,750.

Note 5 - Stockholders' Equity	3 Months Ended
Note 5 - Stockholders' Equity	Mar. 31, 2016
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	Note 5 — Stockholders’ Equity On March 3, 2015, the Company filed a $150,000 shelf registration statement on Form S-3 with the SEC. This shelf registration statement, as amended by a post-effective amendment filed on February 26, 2016 and declared effective on April 18, 2016, allows the Company 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 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 the Company 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. The Company has $10,000 remaining under this shelf registration statement.

Note 2 - Stock Incentive Plan Activities (Details) - Incentive Plan [Member] shares in Thousands	3 Months Ended
	Mar. 31, 2016 $ / shares shares
Restricted Stock Units (RSUs) [Member]
Restricted stock unit awards granted (in shares)	(13)
Restricted stock unit awards cancelled (in shares)	15
Awards Available (in shares)	16
Options Outstanding (in shares)	10,671
Weighted Average Exercise Price (in dollars per share) \| $ / shares	$ 7.50
Stock option awards exercised (in shares)	(79)
Stock option awards exercised (in dollars per share) \| $ / shares	$ 2.32
Stock option awards cancelled (in shares)	109
Stock option awards cancelled (in shares)	(109)
Stock option awards cancelled (in dollars per share) \| $ / shares	$ 9.58
Awards Available (in shares)	127
Options Outstanding (in shares)	10,483
Weighted Average Exercise Price (in dollars per share) \| $ / shares	$ 7.51

Note 3 - Collaborative and Other Research and Development Contracts (Details Textual) - USD ($) $ in Thousands		1 Months Ended				3 Months Ended	12 Months Ended
	Jun. 16, 2015	Sep. 30, 2013	May 31, 2010	Jun. 30, 2006	Feb. 28, 2006	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
Base Contract [Member]
Government Contract Receivable								$ 13,314
Additional Development Options [Member]
Government Contract Receivable								22,855
ASPRBARDA Contract [Member]
Government Contract Receivable								$ 36,169
Proceeds from awards for Research and Development Contracts						$ 17,623
Green Cross Corporation [Member]
Proceeds from License Fees Received				$ 250
Mundipharma [Member]
Upfront Payments Receivable Amount					$ 10,000
AECOM and IRL [Member]
Milestone Payment Maximum						4,000
Milestone Payment Minimum						1,400
Annual License Fee Minimum						150
Annual License Fee Maximum						$ 500
Advance Notice Period for Termination of Agreement						60 days
Stock Issued During Period, Value, for Modification of License Agreement			$ 5,911
Payments for Modification of License Agreement			$ 90
National Institute of Allergy and Infectious Diseases [Member]
Proceeds from awards for Research and Development Contracts		$ 5,000
Expected Receivable From Awards for Research and Development Contracts							$ 34,002
Collaborative Agreement Period of Contract							5 years
Collaboration Agreement Additional Payments Received						$ 29,875
UAB [Member]
Period of Agreement						25 years
Renewable Period of Agreement						5 years
CSL Limited [Member
Proceeds from License Fees Received	$ 33,740
Milestone Payment Maximum	$ 12,000
Royalty Term	10 years

Note 1 - Fair Value of the Company's Investments by Type (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
US Government Agencies Debt Securities [Member]
Amortized Cost	$ 21,666	$ 26,557
Accrued Interest	53	88
Gross Unrealized Gains	15
Gross Unrealized Losses	(6)	(99)
Estimated Fair Value	21,728	26,546
Corporate Debt Securities [Member]
Amortized Cost	20,718	21,820
Accrued Interest	94	184
Gross Unrealized Gains	23
Gross Unrealized Losses	(3)	(41)
Estimated Fair Value	20,832	21,963
Certificates of Deposit [Member]
Amortized Cost	21,438	21,884
Accrued Interest	32	21
Gross Unrealized Gains	26	5
Gross Unrealized Losses	(8)	(72)
Estimated Fair Value	21,488	21,838
Amortized Cost	63,822	70,261
Accrued Interest	179	293
Gross Unrealized Gains	64	5
Gross Unrealized Losses	(17)	(212)
Estimated Fair Value	$ 64,048	$ 70,347

Note 1 - Scheduled Maturity for the Company's Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Maturing in one year or less	$ 22,914	$ 22,664
Maturing after one year through two years	32,806	28,395
Maturing after two years	8,328	19,288
Total investments	$ 64,048	$ 70,347

Note 1 - Summary of Receivables (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
US Department of Health and Human Services [Member] \| Billed Revenues [Member]
Receivables	$ 2,475
US Department of Health and Human Services [Member] \| Unbilled Revenues [Member]
Receivables	2,734	5,536
US Department of Health and Human Services [Member]
Receivables	5,209	5,536
Shionogi and Co. Ltd [Member] \| Billed Revenues [Member]
Receivables	1,685	469
Shionogi and Co. Ltd [Member] \| Unbilled Revenues [Member]
Receivables
Shionogi and Co. Ltd [Member]
Receivables	1,685	469
Seqirus UK Limited [Member] \| Billed Revenues [Member]
Receivables	336	210
Seqirus UK Limited [Member] \| Unbilled Revenues [Member]
Receivables	154	28
Seqirus UK Limited [Member]
Receivables	490	238
Billed Revenues [Member]
Receivables	4,496	679
Unbilled Revenues [Member]
Receivables	2,888	5,564
Receivables	$ 7,384	$ 6,243

Note 4 - Royalty Monetization (Details Textual)		3 Months Ended
Note 4 - Royalty Monetization (Details Textual)	Mar. 09, 2011 USD ($)	Mar. 31, 2016 USD ($)	Mar. 31, 2015 USD ($)	Mar. 31, 2016 JPY (¥)	Dec. 31, 2015 USD ($)	Sep. 30, 2015	Dec. 31, 2013 USD ($)
PhaRMA Notes Member] \| JPR Royalty Sub LLC [Member] \| Currency Hedge Agreement [Member]
Collateral Already Posted, Aggregate Fair Value		$ 0	$ 0
Maximum Amount of Collateral Required to Post					$ 9,750,000
PhaRMA Notes Member] \| JPR Royalty Sub LLC [Member] \| Fair Value, Inputs, Level 2 [Member]
Notes Payable, Fair Value Disclosure							$ 30,000,000
PhaRMA Notes Member] \| JPR Royalty Sub LLC [Member]
Private Placement of Senior Secured Notes	$ 30,000,000
Debt Instrument, Interest Rate, Stated Percentage	14.00%
PhaRMA Notes Member] \| Currency Hedge Agreement [Member] \| Japan, Yen [Member]
Derivative, Forward Exchange Rate						100
PhaRMA Notes Member] \| Currency Hedge Agreement [Member]
Payments for (Proceeds from) Hedge, Investing Activities		$ 1,950,000
Required Foreign Currency Hedge Per Dollar \| ¥				¥ 100
PhaRMA Notes Member] \| JPR Royalty Sub LLC [Member]
Percentage of Carrying Amount in Excess of Fair Value		50.00%		50.00%
JPR Royalty Sub LLC [Member] \| Royalty Monetization [Member]
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
Currency Hedge Agreement [Member]
Collateral Already Posted, Aggregate Fair Value		$ 0			$ 0
Foreign Exchange Contract [Member] \| Not Designated as Hedging Instrument [Member]
Derivative, Loss on Derivative		$ 2,753,000
Derivative, Gain on Derivative			$ 464,000
JPR Royalty Sub LLC [Member]
Revenue Recognition Royalty and Milestone Revenue Recognized	$ 30,000,000

Note 5 - Stockholders' Equity (Details Textual) - USD ($) $ in Millions	Mar. 03, 2015	Nov. 06, 2013
Maximum Aggregate Offering Price	$ 150	$ 125
Remaining Aggregate Offering Price		$ 10