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Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 31, 2015	Mar. 15, 2016	Jun. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	DISCOVERY LABORATORIES INC /DE/
Entity Central Index Key	0000946486
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 49.5
Entity Common Stock, Shares Outstanding		8,191,289
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	FY
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2015

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Current Assets:
Cash and cash equivalents	$ 38,722	$ 44,711
Inventory, net	0	27
Prepaid interest, current portion	1,710	0
Prepaid expenses and other current assets	362	821
Total current assets	40,794	45,559
Property and equipment, net	1,039	1,637
Restricted cash	225	225
Prepaid interest, non-current portion	2,319	0
Other assets	0	78
Total Assets	44,377	47,499
Current Liabilities:
Accounts payable	3,263	350
Accrued expenses	7,582	6,116
Deferred revenue	0	43
Common stock warrant liability	223	1,258
Equipment loans, current portion	0	62
Total current liabilities	11,068	7,829
Long-term Debt:
Long term debt, gross	25,000	30,000
Discount on long-term debt	0	(9,698)
Long-term debt, net	25,000	20,302
Other liabilities	43	169
Total liabilities	36,111	28,300
Stockholders' Equity:
Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued or outstanding	0	0
Common stock, $0.001 par value; 36,000,000 shares authorized; 8,196,011 and 6,114,843 shares issued at December 31, 2015 and 2014, respectively; 8,194,519 and 6,113,351 shares outstanding at December 31, 2015 and 2014, respectively	8	6
Additional paid-in capital	590,490	546,255
Accumulated deficit	(579,178)	(524,008)
Treasury stock (at cost); 1,492 shares	(3,054)	(3,054)
Total stockholders' equity	8,266	19,199
Total liabilities & stockholders' equity	$ 44,377	$ 47,499

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
Stockholders' Equity:
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)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	36,000,000
Common stock, shares issued (in shares)	8,196,011	6,114,843
Common stock, shares outstanding (in shares)	8,194,519	6,113,351
Treasury stock (at cost) (in shares)	1,492	1,492

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Revenues:
Product sales	$ 7	$ 312
Grant revenue	980	2,523
Total revenues	987	2,835
Expenses:
Cost of product sales	929	2,671
Research and development	28,888	26,690
Selling, general, and administrative	11,004	16,732
Total expenses	40,821	46,093
Operating loss	(39,834)	(43,258)
Change in fair value of common stock warrant liability	851	3,791
Other income / (expense):
Loss on debt extinguishment	(11,758)	0
Interest and other income	237	6
Interest and other expense	(4,666)	(4,597)
Other income / (expense), net	(16,187)	(4,591)
Net loss	$ (55,170)	$ (44,058)
Net loss per common share
Basic (in dollars per share)	$ (7.98)	$ (7.28)
Diluted (in dollars per share)	$ (7.98)	$ (7.84)
Weighted average number of common shares outstanding
Basic (in shares)	6,967	6,078
Diluted (in shares)	6,967	6,145

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Treasury Stock [Member]	Total
Balance at Dec. 31, 2013	$ 6	$ 541,499	$ (479,950)	$ (3,054)	$ 58,501
Balance (in shares) at Dec. 31, 2013	6,047,000			(1,000)
Changes in Stockholders' Equity [Roll Forward]
Net Loss	$ 0	0	(44,058)	$ 0	(44,058)
Issuance of common stock, 401(k) Plan employer match	$ 0	944	0	$ 0	$ 944
Issuance of common stock, 401(k) Plan employer match (in shares)	43,000			0	42,371
Exercise of common stock warrants	$ 0	803	0	$ 0	$ 803
Exercise of common stock warrants (in shares)	20,000			0
Exercise of stock options for cash	$ 0	30	0	$ 0	30
Exercise of stock options for cash (in shares)	1,000			0
Issuance of common stock, consultants	$ 0	38	0	$ 0	38
Issuance of common stock, consultants (in shares)	1,000			0
Stock-based compensation expense	$ 0	2,941	0	$ 0	2,941
Stock-based compensation expense (in shares)	3,000
Balance at Dec. 31, 2014	$ 6	546,255	(524,008)	$ (3,054)	$ 19,199
Balance (in shares) at Dec. 31, 2014	6,115,000			(1,000)	6,113,351
Changes in Stockholders' Equity [Roll Forward]
Net Loss	$ 0	0	(55,170)	$ 0	$ (55,170)
Issuance of common stock, July 2015 financing	$ 2	37,626	0		37,628
Issuance of common stock, July 2015 financing (in shares)	1,792,000
Issuance of common stock, 401(k) Plan employer match	$ 0	539	0	$ 0	$ 539
Issuance of common stock, 401(k) Plan employer match (in shares)	94,000			0	94,114
Exercise of common stock warrants	$ 0	320	0	$ 0	$ 320
Exercise of common stock warrants (in shares)	194,000			0
Issuance of common stock warrants	$ 0	4,053	0	$ 0	4,053
Issuance of common stock warrants (in shares)	0
Stock-based compensation expense	$ 0	1,697	0	0	1,697
Stock-based compensation expense (in shares)	1,000
Balance at Dec. 31, 2015	$ 8	$ 590,490	$ (579,178)	$ (3,054)	$ 8,266
Balance (in shares) at Dec. 31, 2015	8,196,000			(1,000)	8,194,519

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Cash flow from operating activities:
Net loss	$ (55,170)	$ (44,058)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	712	818
Change in provision for excess inventory	(174)	1,873
Stock-based compensation and 401(k) plan employer match	2,235	3,923
Fair value adjustment of common stock warrants	(851)	(3,791)
Amortization of discount on long-term debt	1,287	1,948
Loss on debt extinguishment	11,758	0
Debt discount write-off	707	0
Loss on sale of equipment	84	0
Reduction in required restricted cash under lease agreement	0	100
Amortization of prepaid interest	971	0
Changes in:
Inventory	201	(1,788)
Accounts receivable	0	67
Prepaid expenses and other current assets	459	(44)
Accounts payable	2,913	(1,083)
Accrued expenses	1,466	1,331
Deferred revenue	(43)	(96)
Other assets	67	0
Other liabilities	(126)	(369)
Net cash used in operating activities	(33,504)	(41,169)
Cash flow from investing activities:
Purchase of property and equipment	(458)	(780)
Proceeds from sale of property and equipment	270	0
Net cash used in investing activities	(188)	(780)
Cash flow from financing activities:
Proceeds from issuance of securities, net of expenses	32,629	0
Proceeds from exercise of common stock warrants and options	136	457
Principal payments on long-term debt	(5,000)	0
Repayment of equipment loans	(62)	(80)
Net cash provided by financing activities	27,703	377
Net decrease in cash and cash equivalents	(5,989)	(41,572)
Cash and cash equivalents - beginning of year	44,711	86,283
Cash and cash equivalents - end of year	38,722	44,711
Supplementary disclosure of cash flows information:
Interest paid	$ 1,468	$ 2,630

The Company and Description of Business	12 Months Ended
The Company and Description of Business	Dec. 31, 2015
The Company and Description of Business [Abstract]
The Company and Description of Business	Note 1 – The Company and Description of Business Discovery Laboratories, Inc. (referred to as “we,” “us,” or the “Company”) is a biotechnology company focused on developing novel KL4 surfactant therapies for respiratory diseases and other potential applications. Surfactants are produced naturally in the lung and are essential for normal respiratory function and survival. Our proprietary technology platform includes a synthetic, peptide-containing surfactant (KL4 surfactant) that is structurally similar to endogenous pulmonary surfactant, and novel drug delivery technologies being developed to enable noninvasive administration of aerosolized KL4 surfactant. We believe that our proprietary technology platform may make it possible to develop a pipeline of surfactant products to address a variety of respiratory diseases for which there are few or no approved therapies. Our core development program, AEROSURF^®(lucinactant for inhalation), is focused on improving the management of respiratory distress syndrome (RDS) in premature infants, a serious respiratory condition that can result in long-term respiratory problems, developmental delay and death. Premature infants born prior to 37 weeks gestational age may not have fully developed natural lung surfactant and therefore may need surfactant therapy to sustain life. Higher incidence and severity of RDS are correlated with younger gestational ages; however, RDS can occur at any premature gestational age. RDS is the most prevalent respiratory disease in the neonatal intensive care unit (NICU). Surfactant therapy is a life-saving treatment for RDS and the primary therapy to address an underlying surfactant deficiency. Surfactants currently available in the U.S. are animal-derived and must be administered using invasive endotracheal intubation and mechanical ventilation, each of which may result in serious respiratory conditions and other complications. Intubation is associated with airway trauma and clinical instability that can extend beyond the respiratory system such as increased intracranial pressure and risk for brain injury. Mechanical ventilation is associated with ventilator-associated lung injury, chronic lung disease and increased risk of infection. To avoid these risks, many premature infants are initially treated with noninvasive respiratory support, such as nasal continuous positive airway pressure (nCPAP). Unfortunately, since nCPAP does not address the underlying surfactant deficiency, many premature infants respond poorly to nCPAP (typically within the first 72 hours of life) and may require intubation and delayed surfactant therapy (an outcome referred to as nCPAP failure). In addition, many premature infants with RDS who receive surfactant therapy as initial therapy are capable of breathing without mechanical ventilation, but require surfactant therapy for RDS. Because surfactant therapy requires intubation, these infants generally are supported with mechanical ventilation for either a limited or extended period of time. If surfactant therapy could be administered noninvasively, neonatologists would be able to provide surfactant therapy to these premature infants without exposing them to the risks associated with intubation and mechanical ventilation. AEROSURF is an investigational combination drug/device product that combines our proprietary KL4 surfactant with our novel aerosol delivery system (ADS), which is based primarily on our capillary aerosol generator technology. We are developing AEROSURF to enable administration of aerosolized KL4 surfactant to premature infants receiving nCPAP, without invasive intubation and mechanical ventilation. We believe that, if approved, AEROSURF will have the potential to transform the treatment of RDS, allow for earlier treatment of those premature infants who currently receive surfactants later in their course of treatment, decrease the morbidities and complications currently associated with surfactant administration, and reduce the number of premature infants who are subjected to invasive intubation and delayed surfactant therapy as a result of nCPAP failure. By enabling delivery of our aerosolized KL4 surfactant using noninvasive methods, we believe that AEROSURF, if approved, will address a serious unmet medical need and potentially provide transformative clinical and pharmacoeconomic benefits. The drug product component of our AEROSURF product candidate is a lyophilized (freeze-dried) dosage form of our KL4 surfactant liquid instillate drug product that was approved by the U.S. Food and Drug Administration (FDA) in 2012 under the name SURFAXIN^® (lucinactant) Intratracheal Suspension for the prevention of RDS in premature infants at high risk for RDS. In the second quarter of 2015, we determined to cease commercial and manufacturing activities for SURFAXIN to focus our limited resources on advancing the AEROSURF clinical development program and our aerosolized KL4 surfactant pipeline. We believe that gaining the approval of SURFAXIN provided us valuable experience to support the further development of our KL4 surfactant product candidates, beginning with AEROSURF.

Basis of Presentation	12 Months Ended
Basis of Presentation	Dec. 31, 2015
Basis of Presentation [Abstract]
Basis of Presentation	Note 2 – Basis of Presentation The accompanying consolidated financial statements reflect a 1-for-14 reverse split of our common stock and a change in the number of shares of common stock authorized for issuance under our Amended and Restated Certificate of Incorporation, as amended (Certificate of Incorporation), that was approved by our Board of Directors and stockholders and made effective on January 22, 2016. All share and per share information herein that relates to our common stock has been retroactively restated to reflect the reverse stock split and reduction in authorized shares.

Liquidity Risks and Management's Plans	12 Months Ended
Liquidity Risks and Management's Plans	Dec. 31, 2015
Liquidity Risks and Management's Plans [Abstract]
Liquidity Risks and Management's Plans	Note 3 – Liquidity Risks and Management’s Plans As of December 31, 2015, we had cash and cash equivalents of approximately $38.7 million, current accounts payable and accrued expenses of $10.8 million, and $25 million of long-term debt under a secured loan (Deerfield Loan) with affiliates of Deerfield Management, L.P. (Deerfield). The principal portion of the debt is payable in two equal installments in February 2018 (subject to potential deferral in certain circumstances) and February 2019. Before any additional financings or other transactions, we anticipate that we will have sufficient cash available to support our development programs, business operations and debt service obligations through the first quarter of 2017. We have incurred substantial losses since inception, due to investments in research and development, manufacturing, the commercialization of SURFAXIN, including marketing, commercial and medical affairs activities, and we expect to continue to incur substantial losses over the next four to five years. To secure the significant additional capital that we will need, we expect to utilize all or a combination of potential strategic alliances, collaboration agreements and other strategic transactions, public or private equity offerings (including our ATM Program), or through debt arrangements. We also believe that our success in these efforts will be largely dependent upon our ability to successfully and timely complete the AEROSURF phase 2b clinical trial. Failure to complete the clinical trial within the expected time line in the fourth quarter of 2015 and obtain acceptable and promising results could have a material adverse effect on our ability to secure the additional capital that we will require, through strategic transactions or otherwise, and our ability to continue as a going concern. Our ability to secure capital under our ATM Program or pursuant to public offerings under our 2014 Universal Shelf will be constrained by the value of our equity securities held by nonaffiliated persons and entities (public float), which as of March 18, 2016 is approximately $13.4 million. Our 2014 Universal Shelf was filed on Form S-3, which limits the size of primary securities offerings conducted by companies that have a public float of less than $75 million in any 12-month period to no more than one-third of their public float. Based on the closing market price of our common stock on March 18, 2016 ($1.65) we could raise up to approximately $4.5 million under our 2014 Universal Shelf. To raise capital, we may be required to seek other forms of transactions, including, for example, under a registration statement on Form S-1, the preparation and maintenance of which would be more time consuming and costly, or private placements, potentially with registration rights or priced at a discount to the market value of our stock, or other transactions, any of which could result in substantial equity dilution of stockholders’ interests. In addition, although we have regained compliance with the Minimum Bid Price Requirement of the Nasdaq Listing Rules, there can be no assurance that we will be able to maintain continued compliance, including with certain other Nasdaq listing requirements that require us to maintain a market capitalization of at least $35 million or stockholders’ equity of at least $2.5 million. If we fail to meet both of these requirements, we would receive another delisting notice from the Nasdaq Capital Market, which could further depress the value of our stock. In addition, to be able to raise sufficient capital to support our activities in the near term through public or private equity offerings, given our current per share market price, we may have to seek approval from our stockholders to increase the number of shares of common stock authorized for issuance under our Certificate of Incorporation. Moreover, if any such offering were to involve the issuance of common stock in excess of 20% of our outstanding common stock, we may be required under Nasdaq Listing Rules to seek stockholder approval before we can proceed. There can be no assurance that we would be successful in obtaining such approvals. Failure to secure the additional capital that we will need, whether from non-dilutive sources or from equity offerings, would have a material adverse impact on our business and our ability to continue as a going concern. We have in the past collaborated with research organizations and universities to assess the potential utility of our KL4 surfactant in studies funded in part through non-dilutive grants issued by U.S. Government-sponsored drug development programs, including grants in support of initiatives related to our AEROSURF clinical program and medical and biodefense-related initiatives under programs that encourage private sector development of medical countermeasures against chemical, biological, radiological, and nuclear terrorism threat agents, and pandemic influenza, and provide a mechanism for federal acquisition of such countermeasures. Although there can be no assurance, we continue to pursue such funding opportunities and expect that we may qualify for similar programs in the future. An important priority for us is to identify potential strategic transactions, including without limitation strategic alliances and collaboration arrangements that would potentially provide additional capital to support our AEROSURF development activities and strategic resources to support the registration and commercial introduction of AEROSURF. We seek a significant strategic alliance partner that has broad experience, including local regulatory and product-development expertise and, if AEROSURF is approved, an ability to support the commercial introduction of AEROSURF in the EU and other selected markets outside the U.S. Such alliances typically also provide financial resources, in the form of upfront payments, milestone payments, commercialization royalties and a sharing of research and development expenses. We have engaged in discussions with potential counterparties and a number of these entities have expressed interest in AEROSURF and our KL4 surfactant and drug delivery technologies. Our future capital requirements will depend upon many factors, including our efforts to (i) advance the AEROSURF development program to completion of the phase 2b clinical trials as planned; (ii) assure near- and long-term continuity of supply for our lyophilized KL4 surfactant and ADS and related components with CMOs to support our clinical activities, (iv) develop our ADS for use in a planned phase 3 clinical program and, if approved, early commercial activities, (v) prepare for and conduct an AEROSURF phase 3 clinical program, which likely will be designed to enroll significantly more premature infants than our phase 2 clinical trials, and (vi) secure one or more strategic alliances or other collaboration arrangements to support our development programs and commercialization of our approved products, if any. There can be no assurance that our AEROSURF development program will be successful within our anticipated time frame, if at all; that we will be able to secure regulatory approval for AEROSURF and our other potential KL4 surfactant product candidates in the U.S. and other markets; or that we will be successful in securing the capital we will require when needed. Failure to secure the necessary additional capital when needed could have a material adverse effect on our business, financial condition and results of operations and could compel us to pace, delay or cease our new product development and clinical trial activities and ultimately cease operations. Even if we succeed in our efforts and subsequently commercialize our products, we may never achieve sufficient sales revenue to achieve or maintain profitability. As of December 31, 2015, we had outstanding warrants to purchase approximately 8.5 million shares of our common stock that are exercisable at various prices on different dates into 2024. This includes 4.8 million warrants issued in a July 2015 public offering with an exercise price of $9.80 per share, and 2.9 million pre-funded warrants, of which the entire purchase price was pre-paid upon issuance. Upon exercise of the pre-funded warrants, we would issue the shares to the holders and receive no additional proceeds. The accompanying financial statements have been prepared assuming that we will continue as a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. In the future, our ability to continue as a going concern is dependent on our ability to raise additional capital to fund our research and development programs and meet our obligations on a timely basis. If we are unable to secure the required additional capital, we will likely not have sufficient cash flows and liquidity to fund our business operations, which could significantly limit our ability to continue as a going concern. In that event, we may be forced to limit our development programs and consider other means of creating value for our stockholders, such as licensing the development and/or commercialization of products that we consider valuable and might otherwise plan to develop ourselves. If we are unable to raise the necessary capital, we may be forced to curtail all of our activities and, ultimately, cease operations. Even if we are able to secure additional capital, such financings may only be available on unattractive terms, or could result in significant dilution of stockholders’ interests and, in such event, the market price of our common stock may decline. Moreover, if we fail in the future to make any required payment under our Deerfield Loan or fail to comply with any commitments contained in the loan documents, Deerfield would be able to declare us in default regarding that indebtedness, which could result in the acceleration of the payment obligations under all or a portion of our indebtedness. Since we have pledged substantially all of our assets to secure our obligations under the Deerfield Loan, a debt default would enable the lenders to foreclose on our assets securing the debt and could significantly diminish the market value and marketability of our common stock. Our December 31, 2015 financial statements do not include any adjustments relating to recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should we be unable to continue in existence. As of December 31, 2015, 36 million shares of common stock and 5 million shares of preferred stock were authorized under our Certificate of Incorporation and approximately 18.3 million shares of common stock and 5 million shares of preferred stock were available for issuance and not otherwise reserved.

Accounting Policies and Recent Accounting Pronouncements

12 Months Ended

Dec. 31, 2015

Accounting Policies and Recent Accounting Pronouncements [Abstract]

Accounting Policies and Recent Accounting Pronouncements

Note 4 – Accounting Policies and Recent Accounting Pronouncements

The consolidated financial statements and accompanying notes are prepared in accordance with accounting principles generally accepted in the U. S.

Consolidation

The consolidated financial statements include all of the accounts of Discovery Laboratories, Inc. and its inactive subsidiary, Acute Therapeutics, Inc. All intercompany transactions and balances have been eliminated in consolidation.

Use of estimates

The preparation of financial statements, in conformity with accounting principles generally accepted in the U. S., requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Cash and cash equivalents

Cash and cash equivalents are held in U.S. banks and consist of liquid investments and money market funds with a maturity from date of purchase of 90 days or less that are readily convertible into cash.

Fair value of financial instruments

Our financial instruments consist principally of cash and cash equivalents and restricted cash. The fair values of our cash equivalents are based on quoted market prices. The carrying amount of cash equivalents is equal to their respective fair values at December 31, 2015 and 2014, respectively. Warrants classified as liabilities are recorded at their fair market value. Other financial instruments, including long-term debt, accounts payable and accrued expenses, are carried at cost, which we believe approximates fair value.

Property and equipment

Property and equipment are recorded at cost and depreciated using the straight-line method over the estimated useful lives of the assets (generally three to ten years). Leasehold improvements are amortized over the shorter of the estimated useful lives or the remaining term of the lease. Repairs and maintenance costs are charged to expense as incurred.

Restricted cash

Restricted cash consists of a certificate of deposit held by our bank as collateral for a letter of credit in the same notional amount held by our landlord to secure our obligations under our Lease Agreement dated May 26, 2004 and amended January 3, 2013 for our headquarters location in Warrington, Pennsylvania (See, Note 13 – Commitments, for further discussion on our leases).

Long-lived assets

Our long-lived assets, primarily consisting of equipment, are reviewed for impairment when events or changes in circumstances indicate the carrying amount of an asset may not be recoverable, or its estimated useful life has changed significantly. When the undiscounted cash flows of an asset are less than its carrying value, an impairment is recorded and the asset is written down to estimated value. No impairment was recorded during the years ended December 31, 2015 and 2014 as management believes there are no circumstances that indicate the carrying amount of the assets will not be recoverable. In the second quarter of 2015, we closed the Totowa Facility and sold manufacturing equipment for total cash proceeds of $0.3 million, resulting in a $0.1 million loss from the sale and disposal of these assets.

Grant revenue

We recognize grant revenue when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price is fixed and determinable, and collectability is reasonably assured.

Research and development

We account for research and development expense by the following categories: (a) product development and manufacturing, (b) medical and regulatory operations, and (c) direct preclinical and clinical programs. Research and development expense includes personnel, facilities, manufacturing and quality operations, pharmaceutical and device development, research, clinical, regulatory, other preclinical and clinical activities and medical affairs. Research and development costs are charged to operations as incurred.

Stock-based compensation

Stock-based compensation is accounted for under the fair value recognition provisions of Accounting Standards Codification (ASC) Topic 718, Stock Compensation (ASC Topic 718). See, Note 11 – Stock Options and Stock-based Employee Compensation, for a detailed description of our recognition of stock-based compensation expense. The fair value of stock option grants is recognized evenly over the vesting period of the options or over the period between the grant date and the time the option becomes non-forfeitable by the employee, whichever is shorter.

Warrant accounting

We account for common stock warrants in accordance with applicable accounting guidance provided in ASC Topic 815, Derivatives and Hedging – Contracts in Entity’s Own Equity (ASC Topic 815), as either derivative liabilities or as equity instruments depending on the specific terms of the warrant agreement. We classify derivative warrant liabilities on the consolidated balance sheet as current liabilities, which are revalued at each balance sheet date subsequent to the initial issuance. Depending on the terms of a warrant agreement, we use the Black-Scholes or trinomial pricing models to value the related derivative warrant liabilities. Changes in the fair value of the warrants are reflected in the consolidated statement of operations as “Change in fair value of common stock warrant liability.” See, “Item 8 – Notes to consolidated financial statements – Note 8 – Common Stock Warrant Liability,” for a detailed description of our accounting for derivative warrant liabilities.

Collaborative arrangements

We account for collaborative arrangements in accordance with applicable accounting guidance provided in ASC Topic 808, Collaborative Arrangements (ASC Topic 808). See, “ – Note 12 – Corporate Partnership, Licensing and Research Funding Agreements – Battelle Memorial Institute,” for a description of our accounting for the Battelle collaboration Agreement.

Income taxes

We account for income taxes in accordance with ASC Topic 740, Accounting for Income Taxes (ASC Topic 740), which requires the recognition of deferred tax liabilities and assets for the expected future tax consequences of temporary differences between financial statement carrying amounts and the tax basis of assets and liabilities.

We use a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Because we have never realized a profit, management has fully reserved the net deferred tax asset since realization is not assured.

Net loss per common share

Basic net loss per share is computed by dividing net loss by the weighted average number of common shares outstanding for the period. Diluted net loss per common share is computed by giving effect to all potentially dilutive securities outstanding for the period. For the years ended December 31, 2015 and 2014, the number of shares of common stock potentially issuable upon the exercise of certain stock options and warrants was 9.1 million and 1.6 million shares, respectively. As of December 31, 2015, all potentially dilutive securities were anti-dilutive and therefore have been excluded from the computation of diluted net loss per share. As of December 31, 2014, there were 1.2 million shares of common stock potentially issuable upon the exercise of stock options and warrants excluded from the computation of diluted net loss per common share because their impact would have been anti-dilutive.

In accordance with ASC Topic 260, “Earnings per Share,” when calculating diluted net loss per common share, a gain associated with the decrease in the fair value of warrants classified as derivative liabilities results in an adjustment to the net loss; and the dilutive impact of the assumed exercise of these warrants results in an adjustment to the weighted average common shares outstanding. We utilize the treasury stock method to calculate the dilutive impact of the assumed exercise of warrants classified as derivative liabilities. For the year ended December 31, 2015, the effect of the adjustments for warrants classified as derivative liabilities was anti-dilutive. For the year ended December 31, 2014, the effect of the adjustments for warrants classified as derivative liabilities was dilutive.

The table below provides information pertaining to the calculation of diluted net loss per common share for the periods presented:

(in thousands)	December 31,
	2015			2014

Numerator:
Net loss as reported	$	(55,170	)	$	(44,058	)
Less: income from change in fair value of warrant liability		(851	)		(3,791	)
Numerator for diluted net loss per common share	$	(56,021	)	$	(47,849	)

Denominator:
Basic weighted average common shares outstanding		6,967			6,078
Dilutive common shares from assumed warrant exercises		–			67
Diluted weighted average common shares outstanding		6,967			6,145

We do not have any components of other comprehensive income (loss).

Concentration of Suppliers

We currently obtain the active pharmaceutical ingredients (APIs) of our KL4 surfactant drug products from single-source suppliers. In addition, we rely on a number of third-party institutions and laboratories that perform various studies as well as quality control release and stability testing and other activities related to our KL4 surfactant development and manufacturing activities. At the present time, several of these laboratories are single-source providers. The loss of one or more of our single-source suppliers or testing laboratories could have a material adverse effect upon our operations.

Business segments

We currently operate in one business segment, which is the research and development of products focused on surfactant therapies for respiratory disorders and diseases, and the manufacture and commercial sales of approved products. We are managed and operated as one business. A single management team that reports to the Chief Executive Officer comprehensively manages the entire business. We do not operate separate lines of business with respect to our product candidates.

Recent Accounting Pronouncements

In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize revenue at an amount that reflects the consideration to which the entity expects to be entitled in exchange for transferring goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. generally accepted accounting principles (GAAP) when it becomes effective. The new standard is effective for us in the annual period ending December 31, 2017, including interim periods within that annual period. Early application is not permitted. We are evaluating the effect that ASU 2014-09 will have on our consolidated financial statements and related disclosures. The standard permits the use of either the retrospective or cumulative effect transition method. We have not yet selected a transition method nor determined the effect of the standard on our financial reporting.

In August 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-15, Presentation of Financial Statements – Going Concern, which requires management to evaluate whether there is substantial doubt about the entity’s ability to continue as a going concern and, if so, disclose that fact. Management will also be required to evaluate and disclose whether its plans alleviate that doubt. The standard defines substantial doubt as when it is probable (i.e., likely) that the entity will be unable to meet its obligations as they become due within one year of the date the financial statements are issued (or available to be issued, when applicable). The ASU is effective for the annual period ending December 31, 2016 and interim periods thereafter. Early application is permitted. We are evaluating the effect that ASU 2014-15 will have on our consolidated financial statements and related disclosures. The standard permits the use of either the retrospective or cumulative effect transition method. We have not yet selected a transition method nor determined the effect of the standard on our financial reporting.

In April 2015, the FASB issued ASU No. 2015-03, Simplifying the Presentation of Debt Issuance Costs, which requires an entity to present debt issuance costs in the balance sheet as a direct deduction from the carrying amount of the corresponding debt liability, consistent with debt discounts. The guidance would not address situations in which debt issuance costs do not have an associated debt liability or exceed the carrying amount of the associated debt liability (e.g., an undrawn or partially drawn line of credit). The new standard is effective for us in the annual period ending December 31, 2016, including interim periods within that annual period. Early adoption is permitted and the standard is to be applied retrospectively. We are evaluating the effect that ASU 2015-03 will have on our consolidated financial statements and related disclosures.

In November 2015, the FASB issued ASU No. 2015-17, Balance Sheet Classification of Deferred Taxes, which requires an entity to classify all deferred tax assets and liabilities as noncurrent on the balance sheet instead of separating deferred taxes into current and noncurrent amounts. Also, companies will no longer allocate valuation allowances between current and noncurrent deferred tax assets because those allowances also will be classified as noncurrent. The new standard is effective for fiscal years beginning after December 15, 2016, with early adoption permitted. We have adopted ASU 2015-17 as of December 31, 2015, and the adoption of this update is not expected to have a material effect on our consolidated financial statements and related disclosures.

Fair Value Measurements

12 Months Ended

Dec. 31, 2015

Fair Value Measurements [Abstract]

Fair Value Measurements

Note 5 – Fair Value Measurements

Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date.

Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The fair value hierarchy is based on three levels of inputs, of which the first two are considered observable and the last unobservable, as follows:

Level 1 – Quoted prices in active markets for identical assets and liabilities.

Level 2 – Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

Fair Value on a Recurring Basis

Assets and liabilities measured at fair value on a recurring basis are categorized in the table below as of December 31, 2015 and 2014:

	Fair Value		Fair value measurement using
(in thousands)	December 31, 2015		Level 1		Level 2		Level 3

Assets:
Cash and cash equivalents	$	38,722	$	38,722	$	–	$	–
Certificate of deposit		225		225		–		–
Total Assets	$	38,947	$	38,947	$	–	$	–
Liabilities:
Common stock warrants	$	223	$	–	$	–	$	223

	Fair Value		Fair value measurement using
(in thousands)	December 31, 2014		Level 1		Level 2		Level 3

Assets:
Cash and cash equivalents	$	44,711	$	44,711	$	–	$	–
Certificate of deposit		225		225		–		–
Total Assets	$	44,936	$	44,936	$	–	$	–
Liabilities:
Common stock warrants	$	1,258	$	–	$	–	$	1,258

The following table summarizes changes in the fair value of the common stock warrants measured on a recurring basis using Level 3 inputs for 2015 and 2014:

(in thousands)

Balance at January 1, 2014	$	5,425
Exercise of warrants ⁽¹⁾		(376	)
Change in fair value of common stock warrant liability		(3,791	)
Balance at December 31, 2014	$	1,258
Exercise of warrants ⁽¹⁾		(184	)
Change in fair value of common stock warrant liability		(851	)
Balance at December 31, 2015	$	223

⁽¹⁾ See, Note 8 – Common Stock Warrant Liability.

The significant unobservable inputs used in the fair value measurement of the common stock warrants measured on a recurring basis are the historical volatility of our common stock market price, expected term of the applicable warrants, and the risk-free interest rate based on the U.S. Treasury yield curve in effect at the measurement date. In addition to the significant unobservable inputs noted above, certain fair value measurements also take into account an assumption of the likelihood and timing of the occurrence of an event that would result in an adjustment to the exercise price in accordance with the anti-dilutive pricing provisions in certain of the warrants. Any significant increases or decreases in the unobservable inputs, with the exception of the risk-free interest rate, may result in significantly higher or lower fair value measurements.

Significant Unobservable Input	December 31,
Assumptions of Level 3 Valuations	2015			2014

Historical volatility		159	%		55% – 84	%
Expected term (in years)		0.2			0.1 – 1.1
Risk-free interest rate		0.15	%		0.03% – 0.31	%

Fair Value of Long-Term Debt

At December 31, 2015, the estimated fair value of the Deerfield Loan (see, Note 9 – Deerfield Loan) approximated the carrying value of $25.0 million. At December 31, 2014, the estimated fair value of the Deerfield Loan was $22.2 million compared to a carrying value, net of discounts, of $20.3 million. At December 31, 2014, the estimated fair value of the Deerfield Loan was based on discounting the future contractual cash flows to the present value at the valuation date. This analysis utilizes certain Level 3 unobservable inputs, including current cost of capital. Considerable judgment is required to interpret market data and to develop estimates of fair value. The estimates presented are not necessarily indicative of amounts we could realize in a current market exchange. The use of alternative market assumptions and estimation methodologies could have a material effect on these estimates of fair value. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Property and Equipment

12 Months Ended

Dec. 31, 2015

Property and Equipment [Abstract]

Property and Equipment

Note 6 –Property and Equipment

Property and equipment comprises the following:

	December 31,
(in thousands)	2015			2014

Manufacturing, laboratory & office equipment	$	6,290		$	9,154
Furniture & fixtures		778			817
Leasehold improvements		2,437			2,718
Subtotal		9,505			12,689
Accumulated depreciation and amortization		(8,466	)		(11,052	)
Property and equipment, net	$	1,039		$	1,637

Depreciation expense on property and equipment for the years ended December 31, 2015 and 2014 was $0.7 million and $0.8 million, respectively.

Accrued Expenses

12 Months Ended

Dec. 31, 2015

Accrued Expenses [Abstract]

Accrued Expenses

Note 7 – Accrued Expenses

Accrued expenses are comprised of the following:

	December 31,
(in thousands)	2015		2014

Salaries, bonus & benefits	$	2,387	$	2,332
Research and development		3,254		1,641
Manufacturing operations		1,097		876
Professional fees		326		376
Sales and marketing		–		318
Other		518		573
Total accrued expenses	$	7,582	$	6,116

Common Stock Warrant Liability	12 Months Ended
Common Stock Warrant Liability	Dec. 31, 2015
Common Stock Warrant Liability [Abstract]
Common Stock Warrant Liability	Note 8 – Common Stock Warrant Liability We account for common stock warrants in accordance with applicable accounting guidance provided in ASC Topic 815, Derivatives and Hedging – Contracts in Entity’s Own Equity (ASC 815), either as derivative liabilities or as equity instruments depending on the specific terms of the warrant agreement. On February 22, 2011, we issued registered warrants (2011 Warrants) that expired on February 22, 2016 and had a fair value at issuance of $8.0 million. As of December 31, 2015, there were 0.3 million warrant shares potentially issuable upon exercise of these warrants, with a fair value of $0.2 million. These warrants contained anti-dilution provisions that in certain circumstances would adjust the exercise price if we issued any common stock, securities convertible into common stock, or other securities (subject to certain exceptions) at a value below the then-existing exercise price of the warrants. Although by their express terms, these warrants were not subject to potential cash settlement, due to the nature of the anti-dilution provisions, they were classified as derivative liabilities and reported, at each balance sheet date, at estimated fair value determined using a trinomial pricing model. The exercise price of these warrants was adjusted downward to $2.66 per share at the time of the July 2015 public offering. During the year ended December 31, 2015, holders of the 2011 Warrants exercised warrants to purchase 51,193 shares of our common stock at an exercise price of $2.66 per share, resulting in proceeds to us of $0.1 million. During the year ended December 31, 2014, holders of the 2011 Warrants exercised warrants to purchase 20,346 shares of our common stock at an exercise price of $21.00 per share, resulting in proceeds to us of $0.4 million. Changes in the estimated fair value of warrants classified as derivative liabilities are reported in the accompanying Consolidated Statement of Operations as the “Change in fair value of common stock warrants.”

Deerfield Loan

12 Months Ended

Dec. 31, 2015

Deerfield Loan [Abstract]

Deerfield Loan

Note 9 – Deerfield Loan

Long-term debt consists solely of amounts due under a loan (Deerfield Loan) with affiliates of Deerfield Management Company, L.P. (Deerfield) for the periods presented:

(in thousands)	December 31,
	2015		2014

Note payable	$	25,000	$	30,000
Unamortized discount		–		(9,698	)
Long-term debt, net of discount	$	25,000	$	20,302

Under the terms of the Deerfield loan agreement, Deerfield made two advances, the first upon execution of the agreement in February 2013 in the amount of $10 million, and the second upon the first commercial sale of SURFAXIN in December 2013 in the amount of $20 million. In connection with each advance, we paid Deerfield a transaction fee equal to 1.5% of the amount disbursed. The outstanding principal accrued interest at a rate of 8.75%, payable quarterly in cash. The Deerfield Loan agreement also contains customary terms and conditions, representations and warranties and affirmative and negative covenants, including restrictions on our ability to incur additional indebtedness and grant additional liens on our assets, but it does not require us to meet minimum financial and revenue performance covenants. In addition, all amounts outstanding under the Deerfield Loan may become immediately due and payable upon (i) an “Event of Default,” as defined in the Deerfield Loan agreement, including, among other things, the consummation of a change of control transaction or the sale of more than 50% of our assets (a Major Transaction).

Upon execution of the Deerfield Loan, we issued to Deerfield warrants to purchase approximately 0.2 million shares of our common stock at an exercise price of $39.34 per share. Upon receipt of the second advance in December 2013, we issued to Deerfield warrants to purchase an additional 0.3 million shares of our common stock at an exercise price of $39.34 per share (together with the warrants issued in connection with the execution of the agreement, the Deerfield Warrants). The number of shares of common stock into which the Deerfield Warrants are exercisable and the exercise price will be, and have been, adjusted to reflect any stock splits, recapitalizations or similar adjustments in the number of outstanding shares of common stock. The Deerfield Warrants will expire on the sixth anniversary of the Deerfield Loan agreement, February 13, 2019, and contain limitations on the ability of a holder to exercise the Deerfield Warrants if after such exercise, the holder would beneficially own more than 9.985% of the total number of shares of our common stock then issued and outstanding. The Deerfield Warrants may be exercised in whole or in part either for cash or on a cashless basis. In connection with a Major Transaction, as defined in the Deerfield Warrants, to the extent of consideration payable to stockholders in cash in connection with such Major Transaction, the holder may have the option to redeem the Deerfield Warrants or that portion of the Deerfield Warrants for cash in an amount equal to the Black-Scholes value (as defined in the Deerfield Warrants) of the Deerfield Warrants or that portion of the Deerfield Warrants redeemed. In addition, in connection with a Major Transaction, to the extent of any consideration payable to stockholders in securities, or in the event of an Event of Default, the holder may have the option to exercise the Deerfield Warrants and receive therefor that number of shares of common stock that equals the Black-Scholes value of the Deerfield Warrants or that portion of the Deerfield Warrants exercised. Prior to a holder exercising the Deerfield Warrants for shares in such transactions, the Company may elect to terminate the Deerfield Warrants or that portion of the Deerfield Warrants being exercised and pay the holder cash in an amount equal to the Black-Scholes value of the Deerfield Warrants.

We initially recorded the loan as long-term debt at its face value of $30.0 million less debt discounts and issuance costs consisting of (i) $11.7 million fair value of the Deerfield Warrants issued upon the first advance and the second advance (0.5 million warrants in total), and (ii) a $450,000 transaction fee. The discount was being accreted to the $30 million loan over its term using the effective interest method. The Deerfield Warrants are derivatives that qualify for an exemption from liability accounting as provided for in ASC Topic 815 “Derivatives and Hedging – Contracts in Entity’s Own Equity” (ASC 815) and have been classified as equity.

The fair value of the Deerfield Warrants at issuance was calculated using the Black-Scholes option-pricing model. The significant Level 3 unobservable inputs used in valuing the Deerfield Warrants are the historical volatility of our common stock market price, expected term of the warrants, and the risk-free interest rate based on the U.S. Treasury yield curve in effect at the measurement date. Any significant increases or decreases in the unobservable inputs, with the exception of the risk-free interest rate, would have resulted in a significantly higher or lower fair value measurement.

Significant Unobservable Input Assumptions of Level 3 Valuations

Historical volatility			101%
Expected term (in years)			5.2 – 6.0
Risk-free interest rate			1.2% – 1.5%

On July 9, 2015, we entered into an amendment to our Deerfield Loan agreement and related notes (Deerfield Notes) to better align our Deerfield Loan principal repayment obligations with anticipated milestones under our clinical development program for AEROSURF. Under the terms of the amendment, (i) upon execution, we prepaid in cash $2.5 million of the principal amounts outstanding, (ii) on July 22, 2015, upon the occurrence of the July 2015 public offering, we prepaid in cash an additional $2.5 million of the principal amounts outstanding, (iii) the principal installment originally due in February 2017 was eliminated and (iv) each of the principal payments due in February 2018 and February 2019 was increased to $12.5 million. We also paid Deerfield’s expenses (including reasonable counsel fees and expenses) incurred in connection with the amendment. Under the Deerfield Loan agreement, the $12.5 million principal installment due in February 2018 may be deferred one year if we achieve the market capitalization milestone set forth in the Deerfield Loan agreement.

On July 22, 2015, we entered into a second amendment to our Deerfield Loan agreement and Deerfield Notes, pursuant to which (a) upon closing the July 2015 public offering on July 22, 2015, we prepaid in cash $2.5 million of the principal amounts outstanding, as contemplated by the first amendment, and (b) Deerfield purchased and accepted $5 million Series A and Series B units offered in our July 2015 public offering in satisfaction of $5 million of future interest payments due under the Deerfield Notes. In addition, (i) we paid in cash when due on September 30, 2015, all accrued and unpaid interest under the Deerfield Notes for the period from June 30, 2015 to July 22, 2015 at the original rate of 8.75%; (ii) Deerfield agreed to apply the $5 million prepaid interest accruing from and after July 23, 2015, as and when such payments are due and payable, as follows; first, to interest accruing on the $12.5 million principal installment due on February 13, 2019, and second, to interest accruing on the $12.5 million principal installment due on February 13, 2018, until fully allocated, which is scheduled to occur at the end of the second quarter of 2016; (iii) after the full allocation of the $5 million interest prepayment, any remaining interest due on the principal amount of the Deerfield Notes will accrue at a rate of 8.25% per annum; and (iv) no credit will be given with respect to prepaid interest on principal under the Deerfield Notes that is prepaid, in whole or in part, except for a prepayment at our election or a prepayment required under the Deerfield Loan agreement in connection with a Major Transaction that qualifies as a “Qualified Major Transaction.” A “Qualified Major Transaction” means a change of control transaction (as defined in the Deerfield Warrants), in which (i) we are not the surviving entity and (ii) our common stock valuation (as defined in the Deerfield Warrants) immediately prior to the change of control transaction equals or exceeds $100 million. In addition, we paid Deerfield’s expenses (including reasonable counsel fees and expenses) incurred in connection with the second amendment.

The restructuring of the Deerfield Loan was accounted for as an extinguishment of debt in accordance with ASC Topic 470, Debt – Modifications and Extinguishments, and as a result, we have incurred an $11.8 million non-cash loss on debt extinguishment consisting the difference between the reacquisition price of the Deerfield Loan and the net carrying amount of the extinguished Deerfield Loan, which includes $4.1 million in fair value of the Series A and Series B warrants issued to Deerfield as part of the $5 million of Series A and Series B units Deerfield agreed to purchase and accept in our July 2015 public offering in satisfaction of $5 million of future interest payments due under the Deerfield Notes.

The following amounts comprise the Deerfield Loan interest expense for the periods presented:

(in thousands)	December 31,
	2015		2014

Cash interest expense	$	1,451	$	2,625
Non-cash amortization of debt discounts		1,287		1,948
Debt discount write-off		707		–
Amortization of prepaid interest expense		971		–
Amortization of debt costs		12		19
Write-off of debt costs		66		–
Total Deerfield Loan interest expenses		4,494	$	4,592

Cash interest expense represents interest at an annual rate of 8.75% on the outstanding principal amount for the period, paid in cash on a quarterly basis. Non-cash amortization of debt discount represents the amortization of transaction fees and the fair value of the Deerfield Warrants. Debt discount write-off represents the proportional write-off of unamortized debt discount at the time of a $2.5 million pre-payment of principal amount outstanding under the Deerfield Loan. Amortization of prepaid interest expense represents non-cash amortization of the $5 million of Series A and Series B units Deerfield agreed to purchase and accept in our July 2015 public offering in satisfaction of $5 million of future interest payments due under the Deerfield Notes. The amortization of debt costs represents professional fees incurred in connection with the Deerfield Loan, and the write-off of debt costs represents the write-off of the remaining costs at the time of the debt restructuring.

Stockholders' Equity

12 Months Ended

Dec. 31, 2015

Stockholders' Equity [Abstract]

Stockholders' Equity

Note 10 – Stockholders’ Equity

Registered Public Offerings

On July 22, 2015, we completed a registered public offering of 1,791,667 Series A units and 3,000,000 Series B units each at a price per unit of $8.40, resulting in gross proceeds of $40.25 million ($37.6 million net after underwriting discount and expenses), including the exercise in full by the underwriters of their option to purchase up to an additional 625,000 Series A units at a price per unit of $8.40 to cover over-allotments. The proceeds included $5.0 million in non-cash consideration from Deerfield in the form of a reduction in future interest payments due under the Deerfield Loan (see, Note 9, “Deerfield Loan”). Each Series A unit consists of one share of common stock and a Series A warrant to purchase one share of common stock at an exercise price of $9.80 per share. Each Series B unit consists of a fully paid pre-funded Series B warrant to purchase one share of common stock at an exercise price of $8.40 per share, and a Series B warrant to purchase one share of common stock at an exercise price of $9.80 per share. The shares of common stock and warrants were immediately separable such that no units were issued. The warrants are exercisable immediately at the election of the holder for cash or through a net cashless exercise, provided that a holder may not exercise a warrant to the extent that after giving effect to such exercise, such holder would beneficially own in excess of 9.99% (or 4.99% as may be elected by such holder) of the shares of our common stock outstanding immediately after such exercise. All warrants will expire on the seventh anniversary of the issue date. The net proceeds will be used primarily (i) to advance the AEROSURF development program, and (ii) for general corporate purposes. The offering was made pursuant to a preliminary prospectus supplement dated July 16, 2015 to the 2014 Universal Shelf.

At-the-Market Program (ATM Program)

Stifel ATM Program

On February 11, 2013, we entered into an At-the-Market Equity Sales Agreement (ATM Agreement) with Stifel, Nicolaus & Company, Incorporated (Stifel), under which Stifel, as our exclusive agent, at our discretion and at such times that we may determine from time to time, may sell over a three-year period up to a maximum of $25,000,000 of shares of our common stock (ATM Program). We are not required to sell any shares at any time during the term of the ATM Program.

If we issue a sale notice to Stifel, we may designate the minimum price per share at which shares may be sold and the maximum number of shares that Stifel is directed to sell during any selling period. As a result, prices are expected to vary as between purchasers and during the term of the offering. Stifel may sell the shares by any method deemed to be an “at-the-market” equity offering as defined in Rule 415 promulgated under the Securities Act of 1933, as amended, which may include ordinary brokers’ transactions on The Nasdaq Capital Market^®, or otherwise at market prices prevailing at the time of sale or prices related to such prevailing market prices, or as otherwise agreed by Stifel and us. Either party may suspend the offering under the ATM Agreement by notice to the other party.

The ATM Agreement, as amended on February 11, 2016, will terminate upon the earliest of: (1) the sale of all shares subject to the ATM Agreement, (2) February 11, 2019 or (3) the termination of the ATM Agreement in accordance with its terms. Either party may terminate the ATM Agreement at any time upon written notification to the other party in accordance with the ATM Agreement, and upon such termination, the offering will terminate.

We agreed to pay Stifel a commission equal to 3.0% of the gross sales price of any shares sold pursuant to the ATM Agreement. With the exception of expenses related to the shares, Stifel will be responsible for all of its own costs and expenses incurred in connection with the offering.

401(k) Plan Employer Match

We have a voluntary 401(k) savings plan (401(k) Plan) covering eligible employees that allows for periodic discretionary company matches equal to a percentage of each participant’s contributions (up to the maximum deduction allowed, excluding “catch up” amounts). We currently provide for the company match by issuing shares of common stock that are registered pursuant to a registration statement on Form S-8 filed with the U.S. Securities and Exchange Commission (SEC). For the years ended December 31, 2015 and 2014, the match resulted in the issuance of 94,114 and 42,371 shares of common stock, respectively. Expenses associated with the 401(k) match for the years ended December 31, 2015 and 2014 were $0.5 million and $1.0 million, respectively.

Common Shares Reserved for Future Issuance

Common shares reserved for potential future issuance upon exercise of warrants

The chart below summarizes shares of our common stock reserved for future issuance upon the exercise of warrants:

(in thousands, except price per share data)	December 31,				Exercise Price		Expiration Date
	2015		2014
Battelle – 2014 collaboration agreement⁽¹⁾		107		107	$	70.00	10/10/2024
Investors – July 2015 financing		4,792		–	$	9.80	07/22/2022
Investors – July 2015 financing (prefunded)		2,857		–		–	07/22/2022
Deerfield – 2013 loan		500		500	$	39.34	2/13/2019
Former employee		2		2	$	44.80	3/18/2016
Investors – February 2011 financing		274		325	$	2.66	2/22/2016
PharmaBio – October 2010 financing		–		6	$	57.40	10/13/2015
Investors – June 2010 financing		–		85	$	84.00	6/22/2015
Kingsbridge – June 2010 CEFF		–		6	$	93.66	12/11/2015
PharmaBio – April 2010 financing		–		10	$	148.26	4/30/2015
Investors – February 2010 financing		–		66	$	178.50	2/23/2015
Total		8,532		1,107

(1)	See Note 12 for further details on the Battelle collaboration agreement

Common shares reserved for potential future issuance upon exercise of stock options or granting of additional equity incentive awards

As of December 31, 2015 and 2014, we had 0.4 million and 0.5 million shares, respectively, available for potential future issuance under the 2011 Long-Term Incentive Plan (the 2011 Plan). On January 21, 2016, at a Special Meeting of Stockholders, our stockholders authorized the issuance of an additional 1.1 million shares under the 2011 Long-Term Incentive Plan, which shares were registered on Form S-8 on January 27, 2016.

Common shares reserved for potential future issuance under our 401(k) Plan

As of December 31, 2015 and 2014, we had 4,567 and 438, respectively, reserved for potential future issuance under the 401(k) Plan. On October 27, 2015 the Board of Directors approved the issuance of 78,571 shares of common stock that may be issued pursuant to our 401(k) Plan. These shares were registered on Form S-8 on January 6, 2016.

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 4.E)
-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SAB TOPIC 4.C)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

+ Details

Stock Options and Stock-based Employee Compensation

12 Months Ended

Dec. 31, 2015

Stock Options and Stock-based Employee Compensation [Abstract]

Stock Options and Stock-based Employee Compensation

Note 11 – Stock Options and Stock-based Employee Compensation

Long-Term Incentive Plans

We have the 2011 Plan that provides for the grant of long-term equity and cash incentive compensation awards and replaced a 2007 Long-Term Incentive Plan (the 2007 Plan). Awards outstanding under the 2007 and an earlier 1998 Plan (expired) will continue to be governed by the terms of the plans and award agreements under which they were granted.

Under the 2011 Plan, we may grant awards for up to 2.0 million shares of our common stock. Additionally, any shares returnable to the 2007 Plan as a result of cancellations, expirations and forfeitures will be returned to, and become available for issuance under, the 2011 Plan. Shares returnable to the 1998 Plan as a result of cancellations, expirations and forfeitures will not become available for issuance under the 1998 Plan or the 2011 Plan. Awards under the Plan may include stock options, stock appreciation rights (SARs), restricted stock awards (RSAs), restricted stock units, other performance and stock-based awards, and dividend equivalents.

An administrative committee (the Committee – currently the Compensation Committee of the Board of Directors) or Committee delegates may determine the types, the number of shares covered by, and the terms and conditions of, such awards. Eligible participants may include any of our employees, directors, advisors or consultants.

Stock options and restricted stock units (RSUs) outstanding and available for future issuance are as follows:

	December 31,
	2015		2014

Stock Options and RSUs Outstanding
2011 Plan		493		437
2007 Plan		17		18
1998 Plan		12		13
Total Outstanding		522		468

Available for Future Grants under 2011 Plan		420		476

No SARs, RSAs, other performance and stock-based awards, or dividend equivalents have been granted under the 2011 Plan. Although individual grants may vary, option awards generally are exercisable upon vesting, vest based upon two years of continuous service, and have a 10-year term.

A summary of activity under our long-term incentive plans is presented below:

(in thousands, except for weighted-average data)
Stock Options	Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (In Yrs)

Outstanding at January 1, 2015		467		$	63.04

Granted		185			15.64
Forfeited or expired		(135	)		42.81
Outstanding at December 31, 2015		517		$	51.35		6.6

Vested and exercisable at December 31, 2015		294		$	74.84		4.9

(in thousands, except for weighted-average data)
Restricted Stock Units	Shares			Weighted- Average Grant Date Fair Value

Unvested at January 1, 2015		1		$	23.94
Awarded		5		$	6.72
Vested		(1	)	$	23.94
Unvested at December 31, 2015		5		$	6.72

Based upon application of the Black-Scholes option-pricing formula described below, the weighted-average grant-date fair value of options granted during the years ended December 31, 2015 and 2014 was $10.48 and $25.48, respectively. The weighted-average grant-date fair value of RSUs granted during the years ended December 31, 2015 and 2014 was $6.72 and $23.94, respectively. The total intrinsic value of options outstanding, vested, and exercisable as of December 31, 2015 are each $0.

Stock-Based Compensation

We recognized stock-based compensation expense in accordance ASC Topic 718 for the years ended December 31, 2015 and 2014 of $1.7 million and $2.9 million, respectively.

Stock-based compensation expense was classified as follows:

	December 31,
(in thousands)	2015		2014

Research and development	$	642	$	1,014
Selling, general and administrative		1,054		1,927
Total	$	1,696	$	2,941

The fair value of each option award is estimated on the date of grant using the Black-Scholes option-pricing formula that uses assumptions noted in the following table. Expected volatilities are based upon the historical volatility of our common stock and other factors. We also use historical data and other factors to estimate option exercises, employee terminations and forfeiture rates within the valuation model. The risk-free interest rates are based upon the U.S. Treasury yield curve in effect at the time of the grant.

	December 31,
	2015		2014

Weighted average expected volatility		83%		100%
Weighted average expected term	5.5 years		5.4 years
Weighted average risk-free interest rate		1.50%		1.65%
Expected dividends		–		–

The total fair value of the underlying shares of the options vested during 2015 and 2014 equals $2.7 million and $3.1 million, respectively. As of December 31, 2015, there was $1.9 million of total unrecognized compensation cost related to non-vested share-based compensation arrangements granted under the 2011 Plan. That cost is expected to be recognized over a weighted-average vesting period of 1.8 years.

Corporate Partnership, Licensing and Research Funding Agreements	12 Months Ended
	Dec. 31, 2015
Corporate Partnership, Licensing and Research Funding Agreements [Abstract]
Corporate Partnership, Licensing and Research Funding Agreements	Note 12 – Corporate Partnership, Licensing and Research Funding Agreements Licensing and Research Funding Agreements Battelle Memorial Institute In October 2014, we entered into a collaboration agreement with Battelle providing for the further development of our ADS for potential use in our planned phase 3 clinical program for AEROSURF for the treatment of RDS in premature infants and, if AEROSURF is approved for commercial sale by the FDA or other regulatory authority, initial commercial supply. Under our agreement, we and Battelle plan to design, develop, and complete the testing, verification, and documentation of an improved AEROSURF system, and share equally in the related development costs. These costs are recognized in research and development expense as incurred and were $3.1 million and $0.3 million for the years ended December 31, 2015 and 2014, respectively. In connection with the collaboration agreement, we issued to Battelle two warrants to purchase shares of our common stock, each having an exercise price of $70.00 per share and a term of 10 years, subject to earlier termination under certain circumstances set forth therein, including (i) a warrant to purchase up to 71,429 shares of our common stock, exercisable upon successful completion by Battelle of development activities described above (Initial Warrant), and (ii) a warrant to purchase up to 35,714 shares of our common stock (Additional Warrant; and together with the Initial Warrant, the Battelle Warrants), exercisable if and only if Battelle successfully completes the development activities no later than July 15, 2016, which date was adjusted, and may be further adjusted, as provided in the Collaboration Agreement. We and Battelle have agreed to execute a registration rights agreement providing for the registration of the resale of shares underlying the Battelle Warrants. The Battelle Warrants may be exercised for cash only, except that, in the event a registration statement is not effective at the time of exercise and if an exemption from registration is otherwise available at that time, the Battelle Warrants may be exercised on a cashless basis. The Battelle Warrants were issued pursuant to an exemption from registration contained in Regulation D, Rule 506. The Battelle Warrants are accounted for as equity instruments under the applicable accounting guidance of ASC Topic 815. If Battelle successfully completes their activities under the agreement, we have agreed to pay Battelle royalties equal to a low single-digit percentage of the worldwide net sales and license royalties on sales of AEROSURF for the treatment of RDS in premature infants, up to an aggregate limit of $25 million. Philip Morris USA Inc. and Philip Morris Products S.A. Under license agreements with Philip Morris USA Inc. (PMUSA) and Philip Morris Products S.A. (PMPSA), we hold exclusive worldwide licenses to the ADS technology for use with pulmonary surfactants (alone or in combination with any other pharmaceutical compound(s)) for all respiratory diseases and conditions (the foregoing uses in each territory, the Exclusive Field), and an exclusive license in the U.S. for use with certain non-surfactant drugs to treat a wide range of pediatric and adult respiratory indications in hospitals and other health care institutions. We generally are obligated to pay royalties at a rate equal to a low single-digit percent of sales of products sold in the Exclusive Field (as defined in the license agreements) in the territories, including sales of aerosol devices and related components that are not based on the capillary aerosolization technology (unless we exercise our right to terminate the license with respect to a specific indication). We also agreed to pay minimum royalties quarterly beginning in 2014, but are entitled to a reduction of future royalties in an amount equal to the excess of any minimum royalty paid over royalties actually earned in prior periods. We paid the minimum royalty of $400,000 and $300,000 in 2015 and 2014, respectively, related to these license agreements. Johnson & Johnson and Ortho Pharmaceutical Corporation We, Johnson & Johnson (J&J) and its wholly-owned subsidiary, Ortho Pharmaceutical Corporation, are parties to a license agreement granting to us an exclusive worldwide license to the J&J proprietary KL4 surfactant technology. Under the license agreement, we are obligated to pay fees of up to $2.5 million in the aggregate upon our achievement of certain milestones, primarily upon receipt of marketing regulatory approvals for certain designated products. We have paid $950,000 to date for milestones that have been achieved including a $500,000 milestone payment in 2012 that became due as a result of the FDA’s approval of SURFAXIN. In addition, we are required to make royalty payments at different rates, depending upon type of revenue and country, in amounts in the range of a high single-digit percent of net sales (as defined in the license agreement) of licensed products sold by us or sublicensees, or, if greater, a percentage of royalty income from sublicensees in the low double digits. Laboratorios del Dr. Esteve, S.A. We have a strategic alliance with Laboratorios del Dr. Esteve, S.A. (Esteve) for the development, marketing and sales of a broad portfolio of potential KL4 surfactant products in Andorra, Greece, Italy, Portugal, and Spain. Antonio Esteve, Ph.D., a principal of Esteve, served as a member of our Board of Directors from May 2002 until January 2013. Esteve will pay us a transfer price on sales of our KL4 surfactant products. We will be responsible for the manufacture and supply of all of the covered products and Esteve will be responsible for all sales and marketing in the territory. Esteve is obligated to make stipulated cash payments to us upon our achievement of certain milestones, primarily upon receipt of marketing regulatory approvals for the covered products. In addition, Esteve has agreed to contribute to phase 3 clinical trials for the covered products by conducting and funding development performed in the territory. As part of a 2004 restructuring in which Esteve returned certain rights to us in certain territories (Former Esteve Territories), we agreed to pay Esteve 10% of any cash up front and milestone fees (up to a maximum aggregate of $20 million) that we receive in connection with any strategic collaborations for the development and/or commercialization of certain of our KL4 surfactant products in the Former Esteve Territories.

Commitments	12 Months Ended
Commitments	Dec. 31, 2015
Commitments [Abstract]
Commitments	Note 13 – Commitments Operating Leases Our operating leases consist primarily of facility leases for our operations in Pennsylvania and New Jersey. We maintain our headquarters in Warrington, Pennsylvania. The facility is 39,594 square feet and serves as the main operating facility for drug and device development, regulatory, analytical technical services, research and development, and administration. In January 2013, the lease was amended to extend the term an additional five years through February 2018. The total aggregate base rental payments remaining under the extended portion of the lease are approximately $2.0 million. Until June 30, 2015, we leased approximately 21,000 square feet of space for our manufacturing operations in Totowa, New Jersey (Totowa Facility), at an annual rent of $525,000. The lease for this facility, which was used to manufacture SURFAXIN drug product, expired on June 30, 2015 Rent expense under these leases was $1.0 million and $1.2 million for the years ended December 31, 2015 and 2014, respectively. Battelle Collaboration In accordance with terms of the Battelle agreement (See, – Note 12 – Corporate Partnership, Licensing and Research Funding Agreements), we and Battelle plan to design, develop, and complete the testing, verification, and documentation of an improved AEROSURF system, and share equally in the development plan costs. If this project is successfully completed in accordance with the development plan, based upon current estimates, we expect to incur development costs of approximately $6.6 million through 2016. Restructuring Plan In April 2015, we implemented a restructuring plan to voluntarily cease the commercialization of SURFAXIN and focus our resources on the development of our aerosolized KL4 surfactant pipeline for respiratory diseases, beginning with AEROSURF. As part of the restructuring plan, we ceased manufacturing activities at our Totowa Facility, which we closed upon the expiration of our lease on June 30, 2015. The total severance cost for all impacted employees is $2.9 million, of which $1.0 million was accrued as of December 31, 2014 for Totowa employees. The remaining $1.9 million was charged to expense 2015 ($1.0 million to research and development expenses and $0.9 million to selling, general and administrative expenses). We paid $2.6 million of the severance and retention benefits during 2015. The remaining $0.3 million will be paid through June 30, 2016.

Litigation	12 Months Ended
Litigation	Dec. 31, 2015
Litigation [Abstract]
Litigation	Note 14 – Litigation We are not aware of any pending or threatened legal actions that would, if determined adversely to us, have a material adverse effect on our business and operations. We have from time to time been involved in disputes and proceedings arising in the ordinary course of business, including in connection with the conduct of our clinical trials. In addition, as a public company, we are also potentially susceptible to litigation, such as claims asserting violations of securities laws. Any such claims, with or without merit, if not resolved, could be time-consuming and result in costly litigation. There can be no assurance that an adverse result in any future proceeding would not have a potentially material adverse effect on our business, results of operations and financial condition.

Income Taxes

12 Months Ended

Dec. 31, 2015

Income Taxes [Abstract]

Income Taxes

Note 15 – Income Taxes

Since our inception, we have never recorded a provision or benefit for Federal and state income taxes.

The reconciliation of the income tax benefit computed at the Federal statutory rates to our recorded tax benefit for the years ended December 31, 2015 and 2014 is as follows:

(in thousands)	December 31,
	2015			2014
Income tax benefit, statutory rates	$	18,758		$	14,980
State taxes on income, net of Federal benefit		3,760			2,871
Research and development tax credit		1,047			1,472
Employee related		(340	)		(2,131	)
Warrant valuation related		289			1,289
Income tax benefit		23,514			18,481
Valuation allowance		(23,514	)		(18,481	)
Income tax benefit	$	–		$	–

The tax effects of temporary differences that give rise to deferred tax assets and deferred tax liabilities, at December 31, 2015 and 2014, are as follows:

(in thousands)	December 31,
	2015			2014
Long-term deferred tax assets:
Net operating loss carryforwards (Federal and state)	$	218,203		$	191,643
Research and development tax credits		13,917			12,927
Compensation expense on stock		2,776			2,588
Charitable contribution carryforward		6			7
Inventory reserve		–			907
Deferred revenue		–			16
Other accrued		469			1,088
Depreciation		482			2,630
Capitalized research and development		–			1,123
Total long-term deferred tax assets		235,853			212,929
Less: valuation allowance		(235,853	)		(212,929	)
Deferred tax assets, net of valuation allowance	$	–		$	–

We are in a net deferred tax asset position at December 31, 2015 and 2014 before the consideration of a valuation allowance. Because we have never realized a profit, management has fully reserved the net deferred tax asset since realization is not assured. It is our policy to classify interest and penalties recognized on uncertain tax positions as a component of income tax expense. There was neither interest nor penalties accrued as of December 31, 2015 or 2014, nor were any incurred in 2015 or 2014.

At December 31, 2015 and 2014, we had available carryforward net operating losses for Federal tax purposes of $540.2 million and $473.3 million, respectively, and a research and development tax credit carryforward of $13.9 million and $12.9 million, respectively. The Federal net operating loss and research and development tax credit carryforwards will continue to expire through 2035.

At December 31, 2015, we had available carryforward Federal and State net operating losses of $5.2 million and $0.4 million, respectively, related to stock-based compensation, the tax effect of which will result in a credit to equity as opposed to income tax expense, to the extent these losses are utilized in the future.

At December 31, 2015 and 2014, we had available carryforward losses of approximately $527.1 million and $470.4 million, respectively, for state tax purposes. Of the $527.1 million state tax carryforward losses, $503.7 million is associated with the state of Pennsylvania, with the remainder associated with the other 10 states within which we have established tax nexus.

Utilization of net operating loss (NOL) and research and development (R&D) credit carryforwards may be subject to a substantial annual limitation under Section 382 of the Internal Revenue Code of 1986 due to ownership change limitations that have occurred previously or that could occur in the future. These ownership changes may limit the amount of NOL and R&D credit carryforwards that can be utilized annually to offset future taxable income and tax, respectively. There also could be additional ownership changes in the future, which may result in additional limitations in the utilization of the carryforward NOLs and credits.

A full valuation allowance has been provided against our research and development credits and, if a future assessment requires an adjustment, an adjustment would be offset by an adjustment to the valuation allowance. Thus, there would be no impact to the consolidated balance sheet or statement of operations if an adjustment were required.

Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2015

Selected Quarterly Financial Data (Unaudited) [Abstract]

Selected Quarterly Financial Data (Unaudited)

Note 16 –Selected Quarterly Financial Data (Unaudited)

The following tables contain unaudited statement of operations information for each quarter of 2015 and 2014. The operating results for any quarter are not necessarily indicative of results for any future period.

2015 Quarters Ended:
(in thousands, except per share data)	Mar. 31			June 30			Sept. 30			Dec. 31			Total Year
Revenues:
Product sales	$	7		$	–		$	–		$	–		$	7
Grant revenues		184			75			66			655			980
Total revenues		191			75			66			655			987
Expenses:
Cost of sales		929			–			–			–			929
Research and development		7,082			7,129			6,452			8,225			28,888
Selling, General and administrative		3,353			3,383			2,057			2,211			11,004
Total expenses		11,364			10,512			8,509			10,436			40,821
Operating loss		(11,173	)		(10,437	)		(8,443	)		(9,781	)		(39,834	)
Change in fair value of common stock warrant liability		(31	)		469			139			274			851
Other expense, net		(975	)		(1,358	)		(13,252	)		(602	)		(16,187	)
Net loss	$	(12,179	)	$	(11,326	)	$	(21,556	)	$	(10,109	)	$	(55,170	)
Net loss per common share - basic	$	(1.96	)	$	(1.82	)	$	(2.80	)	$	(1.26	)	$	(7.98	)
Net loss per common share - diluted	$	(1.96	)	$	(1.82	)	$	(2.80	)	$	(1.26	)	$	(7.98	)
Weighted average number of common shares outstanding - basic		6,114			6,125			7,550			8,050			6,967
Weighted average number of common shares outstanding - diluted		6,114			6,125			7,550			8,050			6,967

2014 Quarters Ended:
(in thousands, except per share data)	Mar. 31			June 30			Sept. 30			Dec. 31			Total Year
Revenues:
Product sales	$	28		$	42		$	106		$	136		$	312
Grant revenues		3			1,051			421			1,048			2,523
Total revenues		31			1,093			527			1,184			2,835
Expenses:
Cost of sales		781			731			257			902			2,671
Research and development		5,590			6,858			6,471			7,771			26,690
Selling, General and administrative		4,423			4,446			4,126			3,737			16,732
Total expenses		10,794			12,035			10,854			12,410			46,093
Operating loss		(10,763	)		(10,942	)		(10,327	)		(11,226	)		(43,258	)
Change in fair value of common stock warrant liability		378			1,448			173			1,792			3,791
Other expense, net		(1,091	)		(1,129	)		(1,170	)		(1,201	)		(4,591	)
Net loss	$	(11,476	)	$	(10,623	)	$	(11,324	)	$	(10,635	)	$	(44,058	)
Net loss per common share - basic	$	(1.96	)	$	(1.68	)	$	(1.82	)	$	(1.68	)	$	(7.28	)
Net loss per common share - diluted	$	(1.96	)	$	(1.96	)	$	(1.82	)	$	(2.10	)	$	(7.84	)
Weighted average number of common shares outstanding - basic		6,052			6,076			6,086			6,097			6,078
Weighted average number of common shares outstanding - diluted		6,052			6,134			6,086			6,111			6,145

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	Note 17 Subsequent Events We evaluated all events or transactions that occurred after December 31, 2015 through the date we issued these financial statements. During this period, we noted two subsequent events as described below: Share Consolidation On January 21, 2016, at a Special Meeting of Stockholders, our stockholders approved proposals authorizing the Board of Directors, in its discretion, to implement a reverse split based on an exchange ratio in a designated range and to reduce the number of authorized shares of common stock at one half the exchange ratio implemented for the reverse split. We filed a Certificate of Amendment to our Certificate of Incorporation to (i) effect a share consolidation, or reverse split, of the common stock, par value $0.001 per share, at a ratio of 1-for-14, effective at 12:01 a.m. on January 22, 2016, and (ii) reduce the number of authorized shares of common stock under our Certificate of Incorporation from 250 million to 36 million. Because the Amendment did not reduce the number of authorized shares of common stock in the same proportion as the reverse split, the Amendment had the effect of increasing the amount of common stock available for issuance relative to the amount of common stock available for issuance prior to the Amendment. Further, any warrants, options, restricted stock units and rights outstanding as of the effective date that were subject to adjustment were adjusted in accordance with the terms thereof. Those adjustments may have included, without limitation, changes to the number of shares of common stock that may be obtained upon exercise or conversion of these securities, and changes to the applicable exercise or purchase price. The stockholders also approved the issuance of an additional 1.1 million shares under the 2011 Long-Term Incentive Plan. Executive Severance On February 1, 2016, the Company announced the appointment of Craig Fraser to serve as our President and Chief Executive Officer, effective February 1, 2016. Upon recommendation of the Nomination and Governance Committee of our Board of Directors also appointed Mr. Fraser to serve as a member of the Board, effective immediately. In connection with the foregoing, effective February 1, 2016, we terminated the Employment Agreement of our then President and Chief Executive Officer (the Former CEO). In connection therewith, upon execution by the Former CEO of a plenary release in form satisfactory to us, he became entitled under his Employment Agreement to the following severance and other benefits, in addition to any vested benefits under our company plans or policies: (i) a pro rata bonus equal to a percentage of his Annual Bonus Amount determined by dividing the aggregate bonuses paid to other contract executives for the year 2016 by the aggregate target bonuses of such other contract executives for 2016, and further prorated for the number of days the Former CEO was employed during 2016, payable at the time that other contract executives are paid bonuses with respect to 2016; (ii) a severance amount equal to the sum of the Former CEO’s base salary then in effect and his Annual Bonus Amount, payable in equal installments through August 1, 2017 (the Severance Period); and (iii) all stock options held by the Former CEO will continue to vest during the Severance Period, and continue to be exercisable for up to 36 months after the date of termination. From and after the end of the Severance Period, the Former CEO will forfeit all of his unvested stock options in accordance with the terms of the 2011 Plan. The Former CEO also is subject to non-competition and non-solicitation restrictions for 12 months and 18 months, respectively, after the date of termination under a separate confidentiality agreement. All of our obligations under the Employment Agreement will cease if at any time during the Severance Period the Former CEO engages in a material breach of the Employment Agreement and fails to cure such breach within five business days after receipt from us of notice of such breach.

Accounting Policies and Recent Accounting Pronouncements (Policies)

12 Months Ended

Dec. 31, 2015

Accounting Policies and Recent Accounting Pronouncements [Abstract]

Consolidation

Use of estimates

Cash and cash equivalents

Fair value of financial instruments

Property and equipment

Restricted cash

Long-lived assets

Grant revenue

Research and development

Stock-based compensation

Warrant accounting

Collaborative arrangements

Income taxes

Net loss per common share

The table below provides information pertaining to the calculation of diluted net loss per common share for the periods presented:

(in thousands)	December 31,
	2015			2014

Numerator:
Net loss as reported	$	(55,170	)	$	(44,058	)
Less: income from change in fair value of warrant liability		(851	)		(3,791	)
Numerator for diluted net loss per common share	$	(56,021	)	$	(47,849	)

Denominator:
Basic weighted average common shares outstanding		6,967			6,078
Dilutive common shares from assumed warrant exercises		–			67
Diluted weighted average common shares outstanding		6,967			6,145

We do not have any components of other comprehensive income (loss).

Concentration of Suppliers

Business segments

Recent Accounting Pronouncements

Accounting Policies and Recent Accounting Pronouncements (Tables)

12 Months Ended

Dec. 31, 2015

Accounting Policies and Recent Accounting Pronouncements [Abstract]

Calculation of diluted net loss per common share

The table below provides information pertaining to the calculation of diluted net loss per common share for the periods presented:

(in thousands)	December 31,
	2015			2014

Numerator:
Net loss as reported	$	(55,170	)	$	(44,058	)
Less: income from change in fair value of warrant liability		(851	)		(3,791	)
Numerator for diluted net loss per common share	$	(56,021	)	$	(47,849	)

Denominator:
Basic weighted average common shares outstanding		6,967			6,078
Dilutive common shares from assumed warrant exercises		–			67
Diluted weighted average common shares outstanding		6,967			6,145

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2015

Fair Value Measurements [Abstract]

Assets and liabilities measured at fair value

Assets and liabilities measured at fair value on a recurring basis are categorized in the table below as of December 31, 2015 and 2014:

	Fair Value		Fair value measurement using
(in thousands)	December 31, 2015		Level 1		Level 2		Level 3

Assets:
Cash and cash equivalents	$	38,722	$	38,722	$	–	$	–
Certificate of deposit		225		225		–		–
Total Assets	$	38,947	$	38,947	$	–	$	–
Liabilities:
Common stock warrants	$	223	$	–	$	–	$	223

	Fair Value		Fair value measurement using
(in thousands)	December 31, 2014		Level 1		Level 2		Level 3

Assets:
Cash and cash equivalents	$	44,711	$	44,711	$	–	$	–
Certificate of deposit		225		225		–		–
Total Assets	$	44,936	$	44,936	$	–	$	–
Liabilities:
Common stock warrants	$	1,258	$	–	$	–	$	1,258

Common stock warrants measured at Level 3 inputs on recurring basis

The following table summarizes changes in the fair value of the common stock warrants measured on a recurring basis using Level 3 inputs for 2015 and 2014:

(in thousands)

Balance at January 1, 2014	$	5,425
Exercise of warrants ⁽¹⁾		(376	)
Change in fair value of common stock warrant liability		(3,791	)
Balance at December 31, 2014	$	1,258
Exercise of warrants ⁽¹⁾		(184	)
Change in fair value of common stock warrant liability		(851	)
Balance at December 31, 2015	$	223

⁽¹⁾ See, Note 8 – Common Stock Warrant Liability.

Significant unobservable input assumption used for valuation

Any significant increases or decreases in the unobservable inputs, with the exception of the risk-free interest rate, may result in significantly higher or lower fair value measurements.

Significant Unobservable Input	December 31,
Assumptions of Level 3 Valuations	2015			2014

Historical volatility		159	%		55% – 84	%
Expected term (in years)		0.2			0.1 – 1.1
Risk-free interest rate		0.15	%		0.03% – 0.31	%

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2015

Property and Equipment [Abstract]

Property and equipment

Property and equipment comprises the following:

	December 31,
(in thousands)	2015			2014

Manufacturing, laboratory & office equipment	$	6,290		$	9,154
Furniture & fixtures		778			817
Leasehold improvements		2,437			2,718
Subtotal		9,505			12,689
Accumulated depreciation and amortization		(8,466	)		(11,052	)
Property and equipment, net	$	1,039		$	1,637

Accrued Expenses (Tables)

12 Months Ended

Dec. 31, 2015

Accrued Expenses [Abstract]

Accrued expenses

Accrued expenses are comprised of the following:

	December 31,
(in thousands)	2015		2014

Salaries, bonus & benefits	$	2,387	$	2,332
Research and development		3,254		1,641
Manufacturing operations		1,097		876
Professional fees		326		376
Sales and marketing		–		318
Other		518		573
Total accrued expenses	$	7,582	$	6,116

Deerfield Loan (Tables)

12 Months Ended

Dec. 31, 2015

Deerfield Loan [Abstract]

Long term debt included in balance sheet

Long-term debt consists solely of amounts due under a loan (Deerfield Loan) with affiliates of Deerfield Management Company, L.P. (Deerfield) for the periods presented:

(in thousands)	December 31,
	2015		2014

Note payable	$	25,000	$	30,000
Unamortized discount		–		(9,698	)
Long-term debt, net of discount	$	25,000	$	20,302

Significant unobservable input assumptions of Level 3 valuations

Any significant increases or decreases in the unobservable inputs, with the exception of the risk-free interest rate, would have resulted in a significantly higher or lower fair value measurement.

Significant Unobservable Input Assumptions of Level 3 Valuations

Historical volatility			101%
Expected term (in years)			5.2 – 6.0
Risk-free interest rate			1.2% – 1.5%

Interest expense included in statement of operations

The following amounts comprise the Deerfield Loan interest expense for the periods presented:

(in thousands)	December 31,
	2015		2014

Cash interest expense	$	1,451	$	2,625
Non-cash amortization of debt discounts		1,287		1,948
Debt discount write-off		707		–
Amortization of prepaid interest expense		971		–
Amortization of debt costs		12		19
Write-off of debt costs		66		–
Total Deerfield Loan interest expenses		4,494	$	4,592

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2015

Stockholders' Equity [Abstract]

Common shares reserved for future issuance, warrants

The chart below summarizes shares of our common stock reserved for future issuance upon the exercise of warrants:

(in thousands, except price per share data)	December 31,				Exercise Price		Expiration Date
	2015		2014
Battelle – 2014 collaboration agreement⁽¹⁾		107		107	$	70.00	10/10/2024
Investors – July 2015 financing		4,792		–	$	9.80	07/22/2022
Investors – July 2015 financing (prefunded)		2,857		–		–	07/22/2022
Deerfield – 2013 loan		500		500	$	39.34	2/13/2019
Former employee		2		2	$	44.80	3/18/2016
Investors – February 2011 financing		274		325	$	2.66	2/22/2016
PharmaBio – October 2010 financing		–		6	$	57.40	10/13/2015
Investors – June 2010 financing		–		85	$	84.00	6/22/2015
Kingsbridge – June 2010 CEFF		–		6	$	93.66	12/11/2015
PharmaBio – April 2010 financing		–		10	$	148.26	4/30/2015
Investors – February 2010 financing		–		66	$	178.50	2/23/2015
Total		8,532		1,107

(1)	See Note 12 for further details on the Battelle collaboration agreement

Stock Options and Stock-based Employee Compensation (Tables)

12 Months Ended

Dec. 31, 2015

Stock Options and Stock-based Employee Compensation [Abstract]

Stock options and restricted stock units (RSUs) outstanding and available for future issuance

Stock options and restricted stock units (RSUs) outstanding and available for future issuance are as follows:

	December 31,
	2015		2014

Stock Options and RSUs Outstanding
2011 Plan		493		437
2007 Plan		17		18
1998 Plan		12		13
Total Outstanding		522		468

Available for Future Grants under 2011 Plan		420		476

Summary of stock option activity

A summary of activity under our long-term incentive plans is presented below:

(in thousands, except for weighted-average data)
Stock Options	Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (In Yrs)

Outstanding at January 1, 2015		467		$	63.04

Granted		185			15.64
Forfeited or expired		(135	)		42.81
Outstanding at December 31, 2015		517		$	51.35		6.6

Vested and exercisable at December 31, 2015		294		$	74.84		4.9

(in thousands, except for weighted-average data)
Restricted Stock Units	Shares			Weighted- Average Grant Date Fair Value

Unvested at January 1, 2015		1		$	23.94
Awarded		5		$	6.72
Vested		(1	)	$	23.94
Unvested at December 31, 2015		5		$	6.72

Employee stock-based compensation

Stock-based compensation expense was classified as follows:

	December 31,
(in thousands)	2015		2014

Research and development	$	642	$	1,014
Selling, general and administrative		1,054		1,927
Total	$	1,696	$	2,941

Weighted-average assumptions in estimating fair value of options

The risk-free interest rates are based upon the U.S. Treasury yield curve in effect at the time of the grant.

	December 31,
	2015		2014

Weighted average expected volatility		83%		100%
Weighted average expected term	5.5 years		5.4 years
Weighted average risk-free interest rate		1.50%		1.65%
Expected dividends		–		–

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Taxes [Abstract]

Schedule of effective income tax rate reconciliation

The reconciliation of the income tax benefit computed at the Federal statutory rates to our recorded tax benefit for the years ended December 31, 2015 and 2014 is as follows:

(in thousands)	December 31,
	2015			2014
Income tax benefit, statutory rates	$	18,758		$	14,980
State taxes on income, net of Federal benefit		3,760			2,871
Research and development tax credit		1,047			1,472
Employee related		(340	)		(2,131	)
Warrant valuation related		289			1,289
Income tax benefit		23,514			18,481
Valuation allowance		(23,514	)		(18,481	)
Income tax benefit	$	–		$	–

Schedule of deferred tax assets and liabilities

The tax effects of temporary differences that give rise to deferred tax assets and deferred tax liabilities, at December 31, 2015 and 2014, are as follows:

(in thousands)	December 31,
	2015			2014
Long-term deferred tax assets:
Net operating loss carryforwards (Federal and state)	$	218,203		$	191,643
Research and development tax credits		13,917			12,927
Compensation expense on stock		2,776			2,588
Charitable contribution carryforward		6			7
Inventory reserve		–			907
Deferred revenue		–			16
Other accrued		469			1,088
Depreciation		482			2,630
Capitalized research and development		–			1,123
Total long-term deferred tax assets		235,853			212,929
Less: valuation allowance		(235,853	)		(212,929	)
Deferred tax assets, net of valuation allowance	$	–		$	–

Selected Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2015

Selected Quarterly Financial Data (Unaudited) [Abstract]

Schedule of quarterly financial information

2015 Quarters Ended:
(in thousands, except per share data)	Mar. 31			June 30			Sept. 30			Dec. 31			Total Year
Revenues:
Product sales	$	7		$	–		$	–		$	–		$	7
Grant revenues		184			75			66			655			980
Total revenues		191			75			66			655			987
Expenses:
Cost of sales		929			–			–			–			929
Research and development		7,082			7,129			6,452			8,225			28,888
Selling, General and administrative		3,353			3,383			2,057			2,211			11,004
Total expenses		11,364			10,512			8,509			10,436			40,821
Operating loss		(11,173	)		(10,437	)		(8,443	)		(9,781	)		(39,834	)
Change in fair value of common stock warrant liability		(31	)		469			139			274			851
Other expense, net		(975	)		(1,358	)		(13,252	)		(602	)		(16,187	)
Net loss	$	(12,179	)	$	(11,326	)	$	(21,556	)	$	(10,109	)	$	(55,170	)
Net loss per common share - basic	$	(1.96	)	$	(1.82	)	$	(2.80	)	$	(1.26	)	$	(7.98	)
Net loss per common share - diluted	$	(1.96	)	$	(1.82	)	$	(2.80	)	$	(1.26	)	$	(7.98	)
Weighted average number of common shares outstanding - basic		6,114			6,125			7,550			8,050			6,967
Weighted average number of common shares outstanding - diluted		6,114			6,125			7,550			8,050			6,967

2014 Quarters Ended:
(in thousands, except per share data)	Mar. 31			June 30			Sept. 30			Dec. 31			Total Year
Revenues:
Product sales	$	28		$	42		$	106		$	136		$	312
Grant revenues		3			1,051			421			1,048			2,523
Total revenues		31			1,093			527			1,184			2,835
Expenses:
Cost of sales		781			731			257			902			2,671
Research and development		5,590			6,858			6,471			7,771			26,690
Selling, General and administrative		4,423			4,446			4,126			3,737			16,732
Total expenses		10,794			12,035			10,854			12,410			46,093
Operating loss		(10,763	)		(10,942	)		(10,327	)		(11,226	)		(43,258	)
Change in fair value of common stock warrant liability		378			1,448			173			1,792			3,791
Other expense, net		(1,091	)		(1,129	)		(1,170	)		(1,201	)		(4,591	)
Net loss	$	(11,476	)	$	(10,623	)	$	(11,324	)	$	(10,635	)	$	(44,058	)
Net loss per common share - basic	$	(1.96	)	$	(1.68	)	$	(1.82	)	$	(1.68	)	$	(7.28	)
Net loss per common share - diluted	$	(1.96	)	$	(1.96	)	$	(1.82	)	$	(2.10	)	$	(7.84	)
Weighted average number of common shares outstanding - basic		6,052			6,076			6,086			6,097			6,078
Weighted average number of common shares outstanding - diluted		6,052			6,134			6,086			6,111			6,145

Basis of Presentation (Details)	Jan. 22, 2016
Subsequent Event [Member]
Basis of Presentation [Line Items]
Reverse stock split ratio	14

Liquidity Risks and Management's Plans (Details) $ / shares in Units, $ in Thousands		12 Months Ended
	Mar. 18, 2016 USD ($) $ / shares	Dec. 31, 2015 USD ($) Installment	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Liquidity Risks and Management's Plans [Abstract]
Cash and cash equivalents		$ 38,722	$ 44,711	$ 86,283
Current accounts payable and accrued expenses		10,800
Long-term debt, gross		$ 25,000	30,000
Number of principal debt repayment installments \| Installment		2
Stockholders' Equity [Line Items]
Stockholders equity		$ 8,266	$ 19,199	$ 58,501
Excess percentage of common stock issued to acquire additional capital		20.00%
Minimum [Member]
Stockholders' Equity [Line Items]
Future substantial losses expected over the period		4 years
Maximum [Member]
Stockholders' Equity [Line Items]
Future substantial losses expected over the period		5 years
ATM Program [Member] \| Subsequent Event [Member]
Stockholders' Equity [Line Items]
Value of equity securities held by non affiliates and entities	$ 13,400
Maximum public float considered for primary securities offerings	$ 75,000
Period consider for maximum public float	12 months
Market price of common stock (in dollars per share) \| $ / shares	$ 1.65
Maximum amount can be raised from public offerings	$ 4,500
ATM Program [Member] \| Minimum [Member] \| Subsequent Event [Member]
Stockholders' Equity [Line Items]
Market capitalization	35,000
Stockholders equity	$ 2,500

Liquidity Risks and Management's Plans, Warrants (Details) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
Class of Warrant or Right [Line Items]
Exercise price of warrants (in dollars per share)	$ 39.34
Number of warrant shares issuable (in shares)	8,500,000
Common stock, shares authorized (in shares)	36,000,000
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Common stock available for future issuance (in shares)	18,300,000
Preferred stock reserved for future issuance (in shares)	5,000,000
July 2015 Public Offering [Member]
Class of Warrant or Right [Line Items]
Exercise price of warrants (in dollars per share)	$ 9.80
Number of warrants issued (in shares)	4,800,000
Prefunded Warrants [Member] \| July 2015 Public Offering [Member]
Class of Warrant or Right [Line Items]
Number of warrants issued (in shares)	2,900,000

Accounting Policies and Recent Accounting Pronouncements (Details) shares in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015 USD ($) shares	Sep. 30, 2015 USD ($) shares	Jun. 30, 2015 USD ($) shares	Mar. 31, 2015 USD ($) shares	Dec. 31, 2014 USD ($) shares	Sep. 30, 2014 USD ($) shares	Jun. 30, 2014 USD ($) shares	Mar. 31, 2014 USD ($) shares	Dec. 31, 2015 USD ($) Segment shares	Dec. 31, 2014 USD ($) shares
Long-lived assets [Abstract]
Impairment of long-lived assets									$ 0	$ 0
Proceeds from sale of property and equipment			$ 300,000						270,000	0
Loss from sale and disposal of long-lived assets			100,000						(84,000)	0
Numerator [Abstract]
Net loss as reported	$ (10,109,000)	$ (21,556,000)	$ (11,326,000)	$ (12,179,000)	$ (10,635,000)	$ (11,324,000)	$ (10,623,000)	$ (11,476,000)	(55,170,000)	(44,058,000)
Less: income from change in fair value of warrant liability									(851,000)	(3,791,000)
Numerator for diluted net loss per common share									$ (56,021,000)	$ (47,849,000)
Denominator [Abstract]
Basic weighted average common shares outstanding (in shares) \| shares	8,050	7,550	6,125	6,114	6,097	6,086	6,076	6,052	6,967	6,078
Dilutive common shares from assumed warrant exercises (in shares) \| shares									0	67
Diluted weighted average common shares outstanding (in shares) \| shares	8,050	7,550	6,125	6,114	6,111	6,086	6,134	6,052	6,967	6,145
Number of shares of common stock potentially issuable upon the exercise of stock options and warrants (in shares) \| shares									9,100	1,600
Potential common stock issuable upon exercise of stock options and warrants (in shares) \| shares										1,200
Business segments [Abstract]
Number of operating segments \| Segment									1
Minimum [Member]
Property and equipment [Line Items]
Estimated useful life of property and equipment									3 years
Maximum [Member]
Property and equipment [Line Items]
Estimated useful life of property and equipment									10 years

Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Liabilities [Abstract]
Fair value of loan	$ 25,000	$ 22,200
Long-Term Debt	25,000	20,302
Recurring [Member]
Assets [Abstract]
Fair Value	38,947	44,936
Recurring [Member] \| Level 1 [Member]
Assets [Abstract]
Fair Value	38,947	44,936
Recurring [Member] \| Level 2 [Member]
Assets [Abstract]
Fair Value	0	0
Recurring [Member] \| Level 3 [Member]
Assets [Abstract]
Fair Value	0	0
Recurring [Member] \| Cash and cash equivalents [Member]
Assets [Abstract]
Fair Value	38,722	44,711
Recurring [Member] \| Cash and cash equivalents [Member] \| Level 1 [Member]
Assets [Abstract]
Fair Value	38,722	44,711
Recurring [Member] \| Cash and cash equivalents [Member] \| Level 2 [Member]
Assets [Abstract]
Fair Value	0	0
Recurring [Member] \| Cash and cash equivalents [Member] \| Level 3 [Member]
Assets [Abstract]
Fair Value	0	0
Recurring [Member] \| Certificate of Deposit [Member]
Assets [Abstract]
Fair Value	225	225
Recurring [Member] \| Certificate of Deposit [Member] \| Level 1 [Member]
Assets [Abstract]
Fair Value	225	225
Recurring [Member] \| Certificate of Deposit [Member] \| Level 2 [Member]
Assets [Abstract]
Fair Value	0	0
Recurring [Member] \| Certificate of Deposit [Member] \| Level 3 [Member]
Assets [Abstract]
Fair Value	0	0
Recurring [Member] \| Common Stock Warrant [Member]
Liabilities [Abstract]
Fair Value	223	1,258
Recurring [Member] \| Common Stock Warrant [Member] \| Level 1 [Member]
Liabilities [Abstract]
Fair Value	0	0
Recurring [Member] \| Common Stock Warrant [Member] \| Level 2 [Member]
Liabilities [Abstract]
Fair Value	0	0
Recurring [Member] \| Common Stock Warrant [Member] \| Level 3 [Member]
Liabilities [Abstract]
Fair Value	$ 223	$ 1,258

Fair Value Measurements, Level 3 Rollforward (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2015

Dec. 31, 2014

Fair value measurements of common stock warrants using significant unobservable inputs (level 3)

Balance at beginning of period

$ 1,258

Balance at end of period

223

$ 1,258

Level 3 [Member]

Fair value measurements of common stock warrants using significant unobservable inputs (level 3)

Balance at beginning of period

1,258

5,425

Exercise of warrants

^[1]

(184)

(376)

Change in fair value of common stock warrant liability

(851)

(3,791)

Balance at end of period

$ 223

$ 1,258

[1]	See, Note 8 - Common Stock Warrant Liability.

- Definition

Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled within one year or normal operating cycle, if longer. Includes assets not subject to a master netting arrangement and not elected to be offset.

+ References + Details

Fair Value Measurements, Significant Unobservable input assumptions of Level 3 valuations (Details)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Significant Unobservable Input Assumptions of Level 3 Valuations [Abstract]
Historical Volatility	159.00%
Expected Term	2 months 12 days
Risk-free interest rate	0.15%
Minimum [Member] \| Level 3 [Member]
Significant Unobservable Input Assumptions of Level 3 Valuations [Abstract]
Historical Volatility		55.00%
Expected Term		1 month 6 days
Risk-free interest rate		0.03%
Maximum [Member] \| Level 3 [Member]
Significant Unobservable Input Assumptions of Level 3 Valuations [Abstract]
Historical Volatility		84.00%
Expected Term		1 year 1 month 6 days
Risk-free interest rate		0.31%

Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Property and equipment [Line Items]
Property and equipment, gross	$ 9,505	$ 12,689
Accumulated depreciation and amortization	(8,466)	(11,052)
Property and equipment, net	1,039	1,637
Depreciation expense	700	800
Manufacturing, laboratory & office equipment [Member]
Property and equipment [Line Items]
Property and equipment, gross	6,290	9,154
Furniture & fixtures [Member]
Property and equipment [Line Items]
Property and equipment, gross	778	817
Leasehold improvements [Member]
Property and equipment [Line Items]
Property and equipment, gross	$ 2,437	$ 2,718

Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Accrued Expenses [Abstract]
Salaries, bonus & benefits	$ 2,387	$ 2,332
Research and development	3,254	1,641
Manufacturing operations	1,097	876
Professional fees	326	376
Sales and marketing	0	318
Other	518	573
Total accrued expenses	$ 7,582	$ 6,116

Common Stock Warrant Liability (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Feb. 22, 2011
Estimated fair value of warrants accounted for as derivative liabilities [Abstract]
Fair value of warrants	$ 223	$ 1,258
Number of warrant shares potentially issuable (in shares)	8,500,000
Exercise price of warrants (in dollars per share)	$ 39.34
2011 Warrants [Member]
Estimated fair value of warrants accounted for as derivative liabilities [Abstract]
Warrants issuance date	Feb. 22, 2011
Warrants expiration date	Feb. 22, 2016
Fair value of warrants	$ 200		$ 8,000
Number of warrant shares potentially issuable (in shares)	300,000
Exercise price of warrants (in dollars per share)	$ 2.66	$ 21.00
Exercise of warrants by warrant holders to purchase common stock (in shares)	51,193	20,346
Proceeds from exercise of warrants	$ 100	$ 400

- Definition

+ References + Details

Deerfield Loan (Details) $ / shares in Units, shares in Millions					12 Months Ended
	Jul. 22, 2015 USD ($)	Jul. 09, 2015 USD ($)	Dec. 03, 2013 USD ($)	Feb. 13, 2013 USD ($)	Dec. 31, 2015 USD ($) Disbursement $ / shares shares	Dec. 31, 2014 USD ($)
Line of Credit Facility [Line Items]
Date facility agreement entered					Feb. 13, 2013
Loan facility, maximum amount					$ 30,000,000
Number of advances \| Disbursement					2
Transaction fee, percentage					1.50%
Cash interest rate under loan facility					8.75%
Percentage sale of assets					50.00%
Number of shares under issued warrants (in shares) \| shares					0.5
Exercise price of warrants (in dollars per share) \| $ / shares					$ 39.34
Percentage of common stock, maximum					9.985%
Fair value of warrants issued under both the first and second advance					$ 11,700,000
Transaction fee					450,000
Amount of units sold in public offering					37,628,000
Non-cash loss on debt extinguishment					(11,758,000)	$ 0
Carrying value of Facility Agreement [Abstract]
Note Payable					25,000,000	30,000,000
Unamortized discount					0	(9,698,000)
Long-term debt, net					$ 25,000,000	20,302,000
Significant unobservable input assumptions of Level 3 valuations [Abstract]
Historical volatility					159.00%
Expected term					2 months 12 days
Risk-free interest rate					0.15%
Interest expense [Abstract]
Cash interest expense					$ 1,451,000	2,625,000
Non-cash amortization of debt discounts					1,287,000	1,948,000
Debt discount write-off					707,000	0
Amortization of prepaid interest expense					971,000	0
Amortization of debt costs					12,000	19,000
Write-off of debt costs					66,000	0
Total Deerfield Loan interest expenses					$ 4,494,000	$ 4,592,000
Deerfield Warrants [Member]
Significant unobservable input assumptions of Level 3 valuations [Abstract]
Historical volatility					101.00%
Minimum [Member] \| Deerfield Warrants [Member]
Significant unobservable input assumptions of Level 3 valuations [Abstract]
Expected term					5 years 2 months 12 days
Risk-free interest rate					1.20%
Maximum [Member] \| Deerfield Warrants [Member]
Significant unobservable input assumptions of Level 3 valuations [Abstract]
Expected term					6 years
Risk-free interest rate					1.50%
Deerfield Debt Restructuring [Member]
Line of Credit Facility [Line Items]
Cash interest rate under loan facility	8.75%
Prepayment of principal amount of loan outstanding	$ 2,500,000	$ 2,500,000
Amount of units sold in public offering	5,000,000
Additional right to prepayment of principal amount of loan outstanding		2,500,000
Principal amount of loan outstanding payable in February 2018	12,500,000	12,500,000
Principal amount of loan outstanding payable in February 2019	12,500,000	$ 12,500,000
Deferred period for loan payment					1 year
Principal amount of loan payable, prepayment amount	$ 5,000,000
Remaining interest due on the principal amount outstanding	8.25%
Common stock valuation prior to change in control	$ 100,000,000
Non-cash loss on debt extinguishment					$ 11,800,000
Non-cash loss on debt extinguishment related to fair value of warrants					$ 4,100,000
Principal amount of loan payable, future interest obligation	$ 5,000,000
First Advance [Member]
Line of Credit Facility [Line Items]
Proceeds from advanced funds				$ 10,000,000
Number of shares under issued warrants (in shares) \| shares					0.2
Second Advance [Member]
Line of Credit Facility [Line Items]
Proceeds from advanced funds			$ 20,000,000
Number of shares under issued warrants (in shares) \| shares					0.3

Stockholders' Equity, Registered Public Offerings (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Jul. 22, 2015	Dec. 31, 2015	Dec. 31, 2014
Stockholders' Equity [Line Items]
Exercise price of warrants (in dollars per share)		$ 39.34
Common Stock [Member]
Stockholders' Equity [Line Items]
Issuance of common stock, July 2015 financing (in shares)		1,792,000
2011 Warrants [Member]
Stockholders' Equity [Line Items]
Exercise price of warrants (in dollars per share)		$ 2.66	$ 21.00
Registered Public Offerings [Member]
Stockholders' Equity [Line Items]
Gross proceeds from issuance of units	$ 40,250
Net proceeds from issuance of common stock	$ 37,600
Class of warrants may not exercise to extent	9.99%
Class of warrants exercise may be elected by holders	4.99%
Registered Public Offerings [Member] \| Deerfield Debt Restructuring [Member]
Stockholders' Equity [Line Items]
Non-cash consideration received	$ 5,000
Registered Public Offerings [Member] \| Series A Units [Member]
Stockholders' Equity [Line Items]
Issuance of common stock, July 2015 financing (in shares)	1,791,667
Sale of unit price per unit (in dollars per unit)	$ 8.40
Number of warrants required to purchase one share of common stock (in shares)	1
Exercise price of warrants (in dollars per share)	$ 8.40
Registered Public Offerings [Member] \| Series A Warrant [Member]
Stockholders' Equity [Line Items]
Number of warrants required to purchase one share of common stock (in shares)	1
Exercise price of warrants (in dollars per share)	$ 9.80
Registered Public Offerings [Member] \| Series B Units [Member]
Stockholders' Equity [Line Items]
Issuance of common stock, July 2015 financing (in shares)	3,000,000
Sale of unit price per unit (in dollars per unit)	$ 8.40
Number of warrants required to purchase one share of common stock (in shares)	1
Exercise price of warrants (in dollars per share)	$ 8.40
Registered Public Offerings [Member] \| Series B Warrant [Member]
Stockholders' Equity [Line Items]
Number of warrants required to purchase one share of common stock (in shares)	1
Exercise price of warrants (in dollars per share)	$ 9.80
Over-Allotment [Member] \| Series A Units [Member]
Stockholders' Equity [Line Items]
Issuance of common stock, July 2015 financing (in shares)	625,000

Stockholders' Equity, ATM Program and 401(k) Matching Contributions (Details) - USD ($)		12 Months Ended
	Feb. 11, 2013	Dec. 31, 2015	Dec. 31, 2014
Stockholders' Equity [Line Items]
Issuance of common stock, 401(k) employer match (in shares)		94,114	42,371
Expense associated with 401(k) plan		$ 500,000	$ 1,000,000
Stifel ATM Program [Member]
Stockholders' Equity [Line Items]
Period of agency agreement	3 years
Maximum value of potential common stock available for issue	$ 25,000,000
Percentage sales commission on shares	3.00%

Stockholders' Equity, Common Shares Reserved for Future Issuance (Details) - $ / shares

12 Months Ended

Dec. 31, 2015

Jan. 21, 2016

Oct. 27, 2015

Dec. 31, 2014

Stockholders' Equity [Line Items]

Common stock available for issuance (in shares)

8,532,000

1,107,000

Exercise Price (in dollars per share)

$ 39.34

2011 Long-Term Incentive Plan [Member]

Stockholders' Equity [Line Items]

Common stock available for future issuance (in shares)

420,000

476,000

2011 Long-Term Incentive Plan [Member] | Subsequent Event [Member]

Stockholders' Equity [Line Items]

Common stock available for future issuance (in shares)

1,100,000

401(k) Plan [Member]

Stockholders' Equity [Line Items]

Common stock available for issuance (in shares)

4,567

78,571

438

Battelle - 2014 Collaboration Agreement [Member]

Stockholders' Equity [Line Items]

Common stock available for issuance (in shares)

^[1]

107,000

Exercise Price (in dollars per share)

^[1]

$ 70.00

Expiration Date

^[1]

Oct. 10, 2024

Investors - July 2015 Financing [Member]

Stockholders' Equity [Line Items]

Common stock available for issuance (in shares)

4,792,000

Exercise Price (in dollars per share)

$ 9.80

Expiration Date

Jul. 22, 2022

Investors - July 2015 Financing (Prefunded) [Member]

Stockholders' Equity [Line Items]

Common stock available for issuance (in shares)

2,857,000

Exercise Price (in dollars per share)

$ 0

Expiration Date

Jul. 22, 2022

Deerfield - 2013 Loan [Member]

Stockholders' Equity [Line Items]

Common stock available for issuance (in shares)

500,000

Exercise Price (in dollars per share)

$ 39.34

Expiration Date

Feb. 13, 2019

Former Employee [Member]

Stockholders' Equity [Line Items]

Common stock available for issuance (in shares)

2,000

Exercise Price (in dollars per share)

$ 44.80

Expiration Date

Mar. 18, 2016

Investor - February 2011 Financing [Member]

Stockholders' Equity [Line Items]

Common stock available for issuance (in shares)

274,000

325,000

Exercise Price (in dollars per share)

$ 2.66

Expiration Date

Feb. 22, 2016

PharmaBio - October 2010 Financing [Member]

Stockholders' Equity [Line Items]

Common stock available for issuance (in shares)

6,000

Exercise Price (in dollars per share)

$ 57.40

Expiration Date

Oct. 13, 2015

Investor - June 2010 Financing [Member]

Stockholders' Equity [Line Items]

Common stock available for issuance (in shares)

85,000

Exercise Price (in dollars per share)

$ 84.00

Expiration Date

Jun. 22, 2015

Kingsbridge - June 2010 CEFF [Member]

Stockholders' Equity [Line Items]

Common stock available for issuance (in shares)

6,000

Exercise Price (in dollars per share)

$ 93.66

Expiration Date

Dec. 11, 2015

PharmaBio - April 2010 Financing [Member]

Stockholders' Equity [Line Items]

Common stock available for issuance (in shares)

10,000

Exercise Price (in dollars per share)

$ 148.26

Expiration Date

Apr. 30, 2015

Investor - February 2010 Financing [Member]

Stockholders' Equity [Line Items]

Common stock available for issuance (in shares)

66,000

Exercise Price (in dollars per share)

$ 178.50

Expiration Date

Feb. 23, 2015

[1]	See Note 12 for further details on the Battelle collaboration agreement.

Stock Options and Stock-based Employee Compensation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Stock options and restricted stock units (RSUs) outstanding and available for future issuance [Abstract]
Total outstanding (in shares)	522	468
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Stock options outstanding, beginning of period (in shares)	467
Granted (in shares)	185
Forfeited or expired (in shares)	(135)
Stock options outstanding, end of period (in shares)	517	467
Vested and exercisable at end of period (in shares)	294
Weighted Average Exercise Price [Roll Forward]
Outstanding, beginning of period (in dollars per share)	$ 63.04
Granted (in dollars per share)	15.64
Forfeited or expired (in dollars per share)	42.81
Outstanding, end of period (in dollars per share)	51.35	$ 63.04
Vested and exercisable at end of period (in dollars per share)	$ 74.84
Outstanding, weighted average remaining contractual term	6 years 7 months 6 days
Vested and exercisable, weighted average remaining contractual term	4 years 10 months 24 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted average grant date fair value of options granted (in dollars per share)	$ 10.48	$ 25.48
Options, outstanding, total intrinsic value	$ 0
Options, vested, total intrinsic value	0
Options, exercisable, total intrinsic value	$ 0
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested RSAs outstanding (in shares), beginning of period	1
Awarded (in shares)	5
Vested (in shares)	(1)
Unvested RSAs outstanding (in shares), end of period	5	1
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Unvested at beginning of period (in dollars per share)	$ 23.94
Awarded (in dollars per share)	6.72
Vested (in dollars per share)	23.94
Unvested at end of period (in dollars per share)	$ 6.72	$ 23.94
2011 Long-Term Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	2,000
Stock options and restricted stock units (RSUs) outstanding and available for future issuance [Abstract]
Total outstanding (in shares)	493	437
Available for future grants under 2011 plan (in shares)	420	476
Duration of continuous service	2 years
Term of award	10 years
2007 Equity Incentive Plan [Member]
Stock options and restricted stock units (RSUs) outstanding and available for future issuance [Abstract]
Total outstanding (in shares)	17	18
1998 Equity Incentive Plan [Member]
Stock options and restricted stock units (RSUs) outstanding and available for future issuance [Abstract]
Total outstanding (in shares)	12	13

Stock Options and Stock-based Employee Compensation, Options Outstanding, Vested and Exercisable (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Employee stock-based compensation	$ 1,696	$ 2,941
Weighted-average assumptions used in estimating fair value of stock options [Abstract]
Weighted average expected volatility	83.00%	100.00%
Weighted average expected term	5 years 6 months	5 years 4 months 24 days
Weighted average risk-free interest rate	1.50%	1.65%
Expected dividends	0.00%	0.00%
Fair value of options vested during period	$ 2,700	$ 3,100
Unrecognized compensation cost related to non-vested share-based compensation arrangements	$ 1,900
Weighted-average vesting period of stock options	1 year 9 months 18 days
Research and Development [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Employee stock-based compensation	$ 642	1,014
Selling, General & Administrative [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Employee stock-based compensation	$ 1,054	$ 1,927

Corporate Partnership, Licensing and Research Funding Agreements (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2012
Licensing and Research Funding Agreements [Abstract]
Research and development expense	$ 8,225,000	$ 6,452,000	$ 7,129,000	$ 7,082,000	$ 7,771,000	$ 6,471,000	$ 6,858,000	$ 5,590,000	$ 28,888,000	$ 26,690,000
Exercise price of warrants (in dollars per share)	$ 39.34								$ 39.34
Laboratories del Dr. Esteve, S.A. [Abstract]
Percent of cash upfront and milestone fees payable to Esteve	10.00%								10.00%
Maximum aggregate cash upfront and milestone fees payable to Esteve	$ 20,000,000								$ 20,000,000
Battelle - 2014 Collaboration Agreement [Member]
Licensing and Research Funding Agreements [Abstract]
Research and development expense									$ 3,100,000	300,000
Number of warrants to purchase shares of common stock (in shares)	2								2
Term of collaboration agreement									10 years
Exercise price of warrants (in dollars per share)	$ 70.00								$ 70.00
Maximum royalty paid to Battelle on successful completion of activities									$ 25,000,000
Battelle - 2014 Collaboration Agreement [Member] \| Additional Warrants [Member]
Licensing and Research Funding Agreements [Abstract]
Number of warrant shares issuable (in shares)	35,714								35,714
Battelle - 2014 Collaboration Agreement [Member] \| Initial Warrants [Member]
Licensing and Research Funding Agreements [Abstract]
Number of warrant shares issuable (in shares)	71,429								71,429
Phillip Morris - License Agreement [Member]
Licensing and Research Funding Agreements [Abstract]
Royalty paid									$ 400,000	$ 300,000
Johnson & Johnson - License Agreement [Member]
Licensing and Research Funding Agreements [Abstract]
Potential license fee payable	$ 2,500,000								2,500,000
License fees paid									$ 950,000
Payment of license costs subject to FDA approval											$ 500,000

Commitments (Details)		6 Months Ended	12 Months Ended
Commitments (Details)	Jan. 31, 2013 USD ($)	Jun. 30, 2015 USD ($) ft²	Dec. 31, 2015 USD ($) ft²	Dec. 31, 2014 USD ($)
Commitments [Abstract]
Estimated development costs			$ 6,600,000
Operating Leased Assets [Line Items]
Rent expense			1,000,000	$ 1,200,000
Retention plan [Line Items]
Employee severance cost			2,900,000
Employee severance cost charged to expense			1,900,000
Accrued severance cost amount				$ 1,000,000
Severance and retention benefits paid			2,600,000
Severance and retention benefits to be paid in future periods			$ 300,000
Headquarters [Member]
Operating Leased Assets [Line Items]
Leased Area of Real Estate Property \| ft²			39,594
Lease extension term			5 years
Aggregate rental payments	$ 2,000,000
Sterile Manufacturing Facility [Member]
Operating Leased Assets [Line Items]
Leased Area of Real Estate Property \| ft²		21,000
Annual rent of leased property		$ 525,000
Research and Development Expenses [Member]
Retention plan [Line Items]
Employee severance cost charged to expense			$ 1,000,000
Selling, General and Administrative Expenses [Member]
Retention plan [Line Items]
Employee severance cost charged to expense			$ 900,000

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Reconciliation of income tax benefit to Federal statutory rates [Abstract]
Income tax benefit, statutory rates	$ 18,758	$ 14,980
State taxes on income, net of Federal benefit	3,760	2,871
Research and development tax credit	1,047	1,472
Employee related	(340)	(2,131)
Warrant valuation related	289	1,289
Income tax benefit	23,514	18,481
Valuation allowance	(23,514)	(18,481)
Income tax benefit	0	0
Long-term deferred tax assets [Abstract]
Net operating loss carryforwards(Federal and state)	218,203	191,643
Research and development tax credits	13,917	12,927
Compensation expense on stock	2,776	2,588
Charitable contribution carryforward	6	7
Inventory reserve	0	907
Deferred revenue	0	16
Other accrued	469	1,088
Depreciation	482	2,630
Capitalized research and development	0	1,123
Total long-term deferred tax assets	235,853	212,929
Less: valuation allowance	(235,853)	(212,929)
Deferred tax assets, net of valuation allowance	0	0
Operating Loss Carryforwards [Line Items]
Unrecognized tax benefits income tax penalties and interest accrued	0	0
Unrecognized tax benefits income tax penalties and interest expense	0	0
Research Tax Credit Carryforward [Member]
Operating Loss Carryforwards [Line Items]
Tax credit carryforward amount	$ 13,900	12,900
Internal Revenue Service (IRS) [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards expiration dates	Dec. 31, 2035
Tax credit carryforward expiration date	Dec. 31, 2035
Operating loss carryforwards	$ 540,200	473,300
State and Local Jurisdiction [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	527,100	$ 470,400
Federal [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	5,200
State [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	400
Pennsylvania [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 503,700

Selected Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Revenues:
Product sales	$ 0	$ 0	$ 0	$ 7	$ 136	$ 106	$ 42	$ 28	$ 7	$ 312
Grant Revenues	655	66	75	184	1,048	421	1,051	3	980	2,523
Total revenues	655	66	75	191	1,184	527	1,093	31	987	2,835
Expenses:
Cost of sales	0	0	0	929	902	257	731	781	929	2,671
Research and development	8,225	6,452	7,129	7,082	7,771	6,471	6,858	5,590	28,888	26,690
Selling, General and administrative	2,211	2,057	3,383	3,353	3,737	4,126	4,446	4,423	11,004	16,732
Total expenses	10,436	8,509	10,512	11,364	12,410	10,854	12,035	10,794	40,821	46,093
Operating loss	(9,781)	(8,443)	(10,437)	(11,173)	(11,226)	(10,327)	(10,942)	(10,763)	(39,834)	(43,258)
Change in fair value of common stock warrant liability	274	139	469	(31)	1,792	173	1,448	378	851	3,791
Other expense, net	(602)	(13,252)	(1,358)	(975)	(1,201)	(1,170)	(1,129)	(1,091)	(16,187)	(4,591)
Net loss	$ (10,109)	$ (21,556)	$ (11,326)	$ (12,179)	$ (10,635)	$ (11,324)	$ (10,623)	$ (11,476)	$ (55,170)	$ (44,058)
Net loss per common share - basic (in dollars per share)	$ (1.26)	$ (2.80)	$ (1.82)	$ (1.96)	$ (1.68)	$ (1.82)	$ (1.68)	$ (1.96)	$ (7.98)	$ (7.28)
Net loss per common share - diluted (in dollars per share)	$ (1.26)	$ (2.80)	$ (1.82)	$ (1.96)	$ (2.10)	$ (1.82)	$ (1.96)	$ (1.96)	$ (7.98)	$ (7.84)
Weighted average number of common shares outstanding - basic (in shares)	8,050	7,550	6,125	6,114	6,097	6,086	6,076	6,052	6,967	6,078
Weighted average number of common shares outstanding - diluted (in shares)	8,050	7,550	6,125	6,114	6,111	6,086	6,134	6,052	6,967	6,145

Subsequent Events (Details) shares in Thousands	Feb. 01, 2016	Jan. 22, 2016 $ / shares shares	Jan. 21, 2016 shares	Dec. 31, 2015 Event $ / shares shares	Dec. 31, 2014 $ / shares shares
Subsequent Events [Abstract]
Number of subsequent event \| Event				2
Subsequent Event [Line Items]
Common stock, par value (in dollars per share) \| $ / shares				$ 0.001	$ 0.001
2011 Long-Term Incentive Plan [Member]
Subsequent Event [Line Items]
Number of shares authorized (in shares)				2,000
Common stock available for future issuance (in shares)				420	476
Subsequent Event [Member]
Subsequent Event [Line Items]
Portion of exchange ratio to reduce common stock authorized			0.5
Common stock, par value (in dollars per share) \| $ / shares		$ 0.001
Reverse stock split ratio		14
Number of shares authorized (in shares)		36,000	250,000
Maximum period after termination for stock options to be exercisable	36 months
Period of non-competition restrictions after termination	12 months
Period of non-solicitation restrictions after termination	18 months
Period for cure of breach	5 days
Subsequent Event [Member] \| 2011 Long-Term Incentive Plan [Member]
Subsequent Event [Line Items]
Common stock available for future issuance (in shares)			1,100