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Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

Note

–

The Company and Description of Business

Windtree Therapeutics, Inc. (referred to as “we,” “us,” or the “Company”) is a biotechnology company focused on developing novel KL

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 (KL

surfactant) that is structurally similar to endogenous pulmonary surfactant, and novel drug delivery technologies, including our proprietary aerosol delivery system (ADS), being developed to enable noninvasive administration of aerosolized KL

surfactant at consistent and reproducible volumes suitable to deliver therapeutic dosages in a reasonable period of time. We are currently working with Battelle Memorial Institute (Battelle) to complete design verification procedures for a next generation (NextGen) ADS potentially for use in our remaining AEROSURF development activities and, if approved, initial commercial activities. We believe that our proprietary technologies

may

make it possible to develop a pipeline of surfactant products to address a variety of respiratory diseases for which there are few or

approved therapies.

Our lead development program is AEROSURF

(lucinactant for inhalation), an investigational combination drug/device product that we are developing to improve the management of respiratory distress syndrome (RDS) in premature infants who

may

not

have fully developed natural lung surfactant and

may

require surfactant therapy to sustain life. The currently-available surfactants in the United States (U.S.) are administered using invasive endotracheal intubation and mechanical ventilation, each of which

may

result in serious respiratory conditions and other complications. To avoid these risks, many premature infants are initially treated with noninvasive respiratory support such as nasal continuous positive airway pressure (nCPAP). Unfortunately, nCPAP does

not

address the underlying surfactant deficiency and consequently, many premature infants respond poorly to nCPAP alone (typically within the

first

hours of life) and

may

require delayed surfactant therapy with invasive intubation (an outcome referred to as “nCPAP failure”). If surfactant therapy could be administered noninvasively, neonatologists would be able to provide surfactant therapy to premature infants earlier in their course of treatment and without exposing them to the risks associated with intubation and mechanical ventilation.

AEROSURF is designed to administer aerosolized KL

surfactant noninvasively and potentially meaningfully reduce the use of invasive endotracheal intubation and mechanical ventilation. We believe that AEROSURF, if approved, will allow for earlier treatment of premature infants who currently receive delayed surfactant therapy, 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 following nCPAP failure. We also believe that AEROSURF has the potential to address a serious unmet medical need and potentially provide transformative clinical and pharmacoeconomic benefits. Consistent with our belief, FDA has granted Fast Track designation for our KL

surfactant (including AEROSURF) to treat RDS.

While we are focused primarily on AEROSURF, we are also assessing potential development pathways to potentially gain marketing approval for lyophilized KL

surfactant as an intratracheal instillate for the treatment and/or prevention of RDS. Lyophilized KL

surfactant

may

potentially provide benefits related to use, including longer shelf life, reduced cold-chain requirements and lower viscosity. We have engaged with the FDA to discuss a potential development plan, trial design and regulatory plan for approval. If we can define an acceptable development program that is achievable from a cost, timing and resource perspective, we might seek approval to treat premature infants who, because they are unable to breathe on their own, cannot benefit from AEROSURF.

We also believe that our KL

surfactant technology

may

potentially support a product pipeline to address a broad range of serious respiratory conditions in children and adults. We have received support, and plan to seek additional support, from the National Institutes of Health (“NIH”) and other government funding sources to explore the utility of our KL

surfactant to address a variety of such respiratory conditions as acute lung injury (ALI), including acute radiation exposure to the lung (acute pneumonitis and delayed lung injury), chemical-induced ALI, and influenza-induced ALI; as well as chronic rhinosinusitis, complications of certain major surgeries, mechanical ventilator-induced lung injury (often referred to as VILI), pneumonia, and diseases involving mucociliary clearance disorders, such as chronic obstructive pulmonary disease (COPD) and cystic fibrosis (CF). Although there can be

assurance, we

may

in the future support development activities to establish a proof-of-concept and, if successful, thereafter determine whether to seek strategic alliances or collaboration arrangements or pursue other financial alternatives to fund further development and, if approved, commercialization of additional KL

surfactant indications.

The reader is referred to, and encouraged to read in its entirety “Item

– Business – Company Overview” and “– Business Strategy,” in this Annual Report on Form

-K, which contains a discussion of our Business and Business Strategy, as well as information concerning our proprietary technologies and our current and planned KL

pipeline programs.

Note 2 - Basis of Presentation

12 Months Ended

Dec. 31, 2017

Basis of Accounting [Text Block]

Note

–

Basis of Presentation

The accompanying consolidated financial statements reflect a

-for-

reverse split of our common stock that was approved by our Board of Directors and controlling stockholder and made effective on

December 22, 2017.

All share and per share information data herein that relates to our common stock prior to the effective date has been retroactively restated to reflect the reverse stock split.

Note 3 - Liquidity Risks and Management's Plans

12 Months Ended

Dec. 31, 2017

Liquidity Disclosures [Text Block]

Note

–

Liquidity Risks and Management’s Plans

As of

December 31, 2017,

we had cash and cash equivalents of

$1.8

million and current liabilities of

$11.7

million.

January 2018

and

March 2018,

we received interim loans from our parent company, LPH Investments Limited (LPH), an affiliate of Lee’s Pharmaceutical Holdings Ltd (Lee’s), a company incorporated in the Cayman Islands with limited liability whose common stock is listed on the Hong Kong Stock Exchange and which beneficially owns a majority interest in our common stock, in the amounts of

$1.5

million and

$1.0

million, respectively, to support our AEROSURF development activities and sustain our operations while we continued our diligence efforts to identify

one

or more potential strategic or equity transactions. To secure our obligations under these loans, we granted Lee’s a security interest in substantially all of our assets (

see,

“– Note

– Subsequent Events.”)

In early

April 2018,

we completed a

$2.6

million private placement offering with LPH II Investments Limited (LPH II), a wholly-owned subsidiary of Lee’s, from which we received net proceeds of approximately

$2.5

million (

see,

“– Note

– Subsequent Events”). As of

April 15, 2018,

before any additional financings, including in connection with potential strategic transactions, we believe that we will have sufficient cash resources available to support our development activities and business operations through

May

2018.

We expect to continue to incur significant losses and require significant additional capital to advance our AEROSURF clinical development program, support our operations and satisfy existing obligations beyond

May 2018,

and we do

not

have sufficient cash and cash equivalents for at least the next year following the date that the financial statements are issued. These conditions raise substantial doubt about our ability to continue as a going concern within

one

year after the date that the financial statements are issued.

To alleviate the conditions that raise substantial doubt about our ability to continue as a going concern, management plans to raise additional capital through

one

or more of the following: (i) strategic transactions, including potential alliances and collaborations focused on markets outside the U.S., as well as potential combinations (including by merger or acquisition) or other corporate transactions; we are currently engaged in active diligence and discussions with a

third

party for a potential strategic transaction, and (ii) through private placements of our equity securities, although there can be

assurance that we will be able to secure such transaction or complete a private placement on acceptable terms, if at all. If

none

of these alternatives is available, or if available, we are unable to raise sufficient capital through such transactions, we will

not

have sufficient cash resources and liquidity to fund our business operations for at least the next year following the date that the financial statements are issued. Accordingly, management has concluded that substantial doubt exists with respect to our ability to continue as a going concern through

one

year after the issuance of the accompanying financial statements.

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business, and 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 as a going concern.

As of

December 31, 2017,

there were

120

million shares of common stock and

million shares of preferred stock authorized under our Certificate of Incorporation, and approximately

114.1

million shares of common stock and

5.0

million shares of preferred stock available for issuance and

not

otherwise reserved.

Note 4 - Accounting Policies and Recent Accounting Pronouncements

12 Months Ended

Dec. 31, 2017

Significant Accounting Policies [Text Block]

Note

–

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 accounts of Windtree Therapeutics, Inc. and its inactive subsidiary, Discovery Laboratories, Inc. (formerly known as 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

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, 2017

and

2016,

respectively. Other financial instruments, including 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

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

for our headquarters location in Warrington, Pennsylvania (

See,

" – Note

– 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.

impairment was recorded during the years ended

December 31, 2017

and

2016

as management believes there are

circumstances that indicate the carrying amount of the assets will

not

be recoverable.

Collaborative arrangements

We account for collaborative arrangements in accordance with applicable accounting guidance provided in ASC Topic

808,

Collaborative Arrangements

See,

“– Note

– Collaboration, Licensing and Research Funding Agreements – Battelle Memorial Institute,” for a description of our accounting for the Battelle collaboration Agreement.

Restructured debt liability – contingent milestone payment

In conjunction with the

November 2017

restructuring and retirement of long-term debt (

See,

" – Note

– Long-term Debt / Restructured debt liability,"), we have established a

$15

million long-term liability for contingent milestone payments potentially due under the Exchange and Termination Agreement dated as of

October 27, 2017 (

Exchange and Termination Agreement), between ourselves and affiliates of Deerfield Management Company L.P. (Deerfield). The liability has been recorded at full value of the contingent milestones and will continue to be carried at full value until the milestones are achieved and paid or milestones are

not

achieved and the liability is written off as a gain on debt restructuring.

Deferred revenue

Deferred revenue represents amounts collected but

not

yet earned and includes

$1.0

million received in

July 2017

for an upfront license fee in connection with the License Agreement with Lee’s. The License Agreement constitutes a multiple-element arrangement and revenue will be recognized as deliverables are completed and all revenue recognition criteria have been met.

Revenue recognition

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 development 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 in accordance with Accounting Standards Codification (ASC) Topic

730,

Research and Development

Stock-based compensation

Stock-based compensation is accounted for under the fair value recognition provisions of ASC Topic

718,

Stock Compensation

(ASC Topic

718

See

, “– Note

– 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.

Income taxes

We account for income taxes in accordance with ASC Topic

740,

Accounting for Income Taxes

, 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.

Beneficial Conversion Feature

The issuance of our Preferred Shares in the

first

quarter of

2017

(

see

, “– Note

– Stockholders’ Equity”) resulted in a beneficial conversion feature, which arises when a debt or equity security is issued with an embedded conversion option that is beneficial to the investor (or in the money) at inception due to the conversion option having an effective conversion price that is less than the fair value of the underlying stock at the commitment date. We recognized the beneficial conversion feature by allocating the relative fair value of the conversion option, which is the number of shares of common stock available upon conversion multiplied by the difference between the effective conversion price per share and the fair value of common stock per share on the commitment date, to additional paid-in capital, resulting in a discount on the Preferred Shares. As the Preferred Shares are immediately convertible by the holders, the discount allocated to the beneficial conversion feature was immediately accreted and recognized as a

$3.6

million

one

-time, non-cash deemed dividend to the preferred shareholders during the

first

quarter of

2017.

An additional discount to the Preferred Shares of

$4.5

million was created due to the allocation of proceeds to the Warrants which were issued with the Preferred Shares. This discount is amortized proportionately as the Preferred Shares are converted. For the year ended

December 31, 2017,

we recognized a non-cash deemed dividend to the preferred shareholders of

$2.8

million related to the Preferred Shares converted during the period.

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, 2017

and

2016,

the number of shares of common stock potentially issuable upon the conversion of preferred stock or the exercise of certain stock options and warrants was

1.0

million and

0.5

million shares, respectively. As of

December 31, 2017

and

2016,

all potentially dilutive securities were anti-dilutive and therefore have been excluded from the computation of diluted net loss per share.

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, 2016,

the effect of the adjustments for warrants classified as derivative liabilities was anti-dilutive. In

February 2016,

the warrants underlying the derivative liability expired.

We do

not

have any components of other comprehensive income (loss).

Concentration of Suppliers

We currently obtain the active pharmaceutical ingredients (APIs) of our KL

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 KL

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

Recently Adopted Accounting Standards

August 2014,

the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU)

2014

15,

Presentation of Financial Statements – Going Concern (Subtopic

205

): Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern

, which defines management's responsibility to evaluate whether there is substantial doubt about an organization's ability to continue as a going concern and to provide related footnote disclosures. Substantial doubt about an entity's ability to continue as a going concern exists when relevant conditions and events, considered in the aggregate, indicate that it is probable that the entity will be unable to meet its obligations as they become due within

one

year after the date that the financial statements are issued (or are available to be issued). We adopted ASU

2014

effective

December 31, 2016.

Management has concluded that substantial doubt exists with respect to our ability to continue as a going concern through

one

year after the issuance of these financial statements (see, “– Note

– Liquidity Risks and Management's Plans”).

March 2016,

the FASB issued ASU

2016

09,

Compensation - Stock Compensation (Topic

718

): Improvements to Employee Share-Based Payment Accounting

. This update addresses the income tax effects of stock-based payments and eliminates the windfall pool concept, as all of the tax effects related to stock-based payments will now be recorded at settlement (or expiration) through the income statement. The new guidance also permits entities to make an accounting policy election for the impact of forfeitures on the recognition of expense for stock-based payment awards. Forfeitures can be estimated or recognized when they occur. We adopted ASU

2016

during the

three

months ended

March 31, 2017

and will continue to recognize stock compensation expense with estimated forfeitures. The adoption did

not

have a material impact on our

2017

financial statements.

November 2016,

the FASB issued ASU

2016

18,

Statement of Cash Flows (Topic

230

): Restricted Cash

. The new standard requires that the statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Entities will also be required to reconcile such total to amounts on the balance sheet and disclose the nature of the restrictions. We adopted ASU

2016

March 31, 2017

on a retrospective basis. As a result, beginning-of-period cash, cash equivalents and restricted cash in the statement of cash flows increased by

$0.2

million for each of the years ended

December 30, 2017

and

2016.

Recent Accounting Pronouncements

May 2014,

the FASB issued ASU

2014

09,

Revenue from Contracts with Customers (Topic

606

)

, 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. GAAP when it becomes effective. The new standard is effective for the annual period ending

December 31, 2018

and interim periods within that annual period. An entity can elect to apply the guidance under

one

of the following

two

methods: (i) retrospectively to each prior reporting period presented, referred to as the full retrospective method or (ii) retrospectively with the cumulative effect of initially applying the standard recognized at the date of initial application in retained earnings, referred to as the modified retrospective method. We have

not

yet completed our final review of the impact of this guidance including the new disclosure requirements, as we are continuing to evaluate the impact of adoption and the implementation approach to be used. We plan to adopt the new standard effective

January 1, 2018

using the modified retrospective method. We continue to monitor additional changes, modifications, clarifications or interpretations being undertaken by the FASB, which

may

impact its current conclusions.

February 2016,

the FASB issued

ASU

2016

02,

Leases (Topic

482

). This ASU requires lessees to put most leases on their balance sheets but recognize expenses in the income statement in a manner similar to current accounting standards. The ASU is effective for the annual period ending

December 31, 2019

and interim periods thereafter. Early adoption is permitted. Entities are required to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements. We are currently evaluating the effect of ASU

2016

and believe it

may

have a material impact on our consolidated financial statements and related disclosures.

May 2017,

the FASB issued ASU

2017

09,

Compensation—Stock Compensation (Topic

718

): Scope of Modification Accounting

. This ASU clarifies when to account for a change to the terms or conditions of a share-based payment award as a modification. Under the new guidance, modification accounting is required only if the fair value, the vesting conditions, or the classification of the award (as equity or liability) changes as a result of the change in terms or conditions. The ASU is effective prospectively for the annual period ending

December 31, 2018

and interim periods within that annual period. We are currently evaluating the effect that ASU

2017

may

have on our consolidated financial statements and related disclosures, but we do

not

expect it to have a material impact on our financial statements.

Note 5 - Fair Value Measurements

12 Months Ended

Dec. 31, 2017

Fair Value Disclosures [Text Block]

Note

–

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

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

●

Level

– Inputs other than Level

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

– Unobservable inputs that are supported by little or

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,

2017

and

2016:

	Fair Value		Fair value measurement using
	December 31,
(in thousands)	2017		Level 1		Level 2		Level 3

Assets:
Cash and cash equivalents	$	1,815	$	1,815	$	-	$	-
Certificate of deposit		225		225		-		-
Total Assets	$	2,040	$	2,040	$	-	$	-

	Fair Value		Fair value measurement using
	December 31,
(in thousands)	2016		Level 1		Level 2		Level 3

Assets:
Cash and cash equivalents	$	5,588	$	5,588	$	-	$	-
Certificate of deposit		225		225		-		-
Total Assets	$	5,813	$	5,813	$	-	$	-

The following table summarizes changes in the fair value of common stock warrant liability measured on a recurring basis using Level

inputs. For

2016,

the change in fair value of common stock warrant liability represents the write-off of the remaining liability upon expiration of the underlying

2011

warrants in

February 2016.

(in thousands)

Balance at January 1, 2016	$	223
Change in fair value of common stock warrant liability		(223	)
Balance at December 31, 2016	$	-

- 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

Note 6 - Property and Equipment

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment Disclosure [Text Block]

Note

–

Property and Equipment

Property and equipment comprises the following:

	December 31,
(in thousands)	2017			2016

Manufacturing, laboratory & office equipment	$	4,965		$	4,940
Furniture & fixtures		615			615
Leasehold improvements		2,458			2,459
Subtotal		8,038			8,014
Accumulated depreciation and amortization		(7,153	)		(6,960	)
Property and equipment, net	$	885		$	1,054

Depreciation expense on property and equipment for the years ended

December 31, 2017

and

2016

was

$0.2

million and

$0.3

million, respectively.

Note 7 - Collaborative Payable and Accrued Expenses

12 Months Ended

Dec. 31, 2017

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

Note

–

Collaboration Payable and Accrued Expenses

Collaboration payable represents amounts due to Battelle under a collaboration agreement related to the development of a new version of our ADS (

See

, Note

– Collaboration, Licensing and Research Funding Agreements). As of

December 31, 2017

and

2016,

collaboration payable was

$3.6

million and

$4.0

million, respectively, including accrued interest.

Accrued expenses comprise the following:

	December 31,
(in thousands)	2017		2016

Salaries, bonus & benefits	$	1,008	$	1,309
Research and development		1,848		5,174
Manufacturing operations		537		454
Professional fees		412		305
Other		399		369
Total accrued expenses	$	4,204	$	7,611

Note 8 - Long-term Debt Restructured Debt Liability

12 Months Ended

Dec. 31, 2017

Long-term Debt [Text Block]

Note

–

Long-term Debt / Restructured Debt Liability

As of

December 31, 2016,

long-term debt consists solely of amounts due under a loan (Deerfield Loan) with Deerfield for the periods presented:

	December 31,
(in thousands)	2017		2016

Deerfield Loan	$	-	$	25,000

Restructured debt liability - contingent milestone payments	$	15,000		-

Under the terms of the Deerfield Loan, 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

December 2013

in the amount of

$20

million. The outstanding principal accrued interest at a rate of

8.75%,

payable quarterly in cash.

Upon execution of the Deerfield Loan, we issued to Deerfield warrants to purchase approximately

10,000

shares of our common stock at an exercise price of

$786.80

per share. Upon receipt of the

second

advance in

December 2013,

we issued to Deerfield warrants to purchase an additional

15,000

shares of our common stock at an exercise price of

$786.80

per share. The warrants had a

six

-year term through the

sixth

anniversary of the Deerfield Loan agreement, or

February

13,

2019.

July 2015,

we entered into

two

amendments to the Deerfield Loan agreement resulting in (i) prepayment of

$5.0

million of principal, (ii) elimination of the principal installment originally due in

February 2017, (

iii) each of the principal payments due in

February 2018

and

February 2019

was increased to

$12.5

million, (iv) Deerfield purchased and accepted

million Series A and Series B units offered in our

July 2015

public offering in satisfaction of

million of future interest payments due under the Deerfield Loan, and (v) after the full allocation of the

million interest prepayment, any remaining interest due on the principal amount of the Deerfield Loan accrued at a rate of

8.25%

per annum.

November 1, 2017,

we and Deerfield entered into an Exchange and Termination Agreement pursuant to which (i) the promissory notes evidencing the aggregate principal amount of

$25

million then owed under the Deerfield Loan, and (ii) warrants to purchase up to

25,000

shares of our common stock at an exercise price of

$786.80

per share held by Deerfield were cancelled in consideration for (i) a cash payment in the aggregate amount of

$2.5

million, (ii) an aggregate of

71,111

shares of common stock and (iii) the right to receive certain milestone payments based on achievement of specified development and commercial milestones related to our AEROSURF

development program, which, if achieved, could potentially total up to

$15

million.

Contemporaneously with the execution of the Exchange and Termination Agreement, we and Deerfield entered into a registration rights agreement pursuant to which we agreed to provide certain registration rights with respect to the shares of common stock issued to Deerfield under the Exchange and Termination Agreement. We issued the shares of common stock to Deerfield pursuant to Rule

506

(b) of Regulation D under, and Section

(a)(

) of, the Securities Act of

1933.

The

November 2017

restructuring and retirement 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 incurred a

$5.8

million non-cash gain on debt restructuring consisting of the difference between the

$25

million carrying amount of the extinguished Deerfield Loan and the consideration to Deerfield under the Exchange and Termination Agreement, which includes

$15

million in contingent milestone payments,

$2.5

million in cash, a

$1.4

million write-off of prepaid interest, and

$0.3

million in fair value of common stock issued to Deerfield. We established a

$15

million long-term liability for the contingent milestone payments potentially due to Deerfield under the Exchange and Termination Agreement (

see

, “–Note

– Accounting Policies and Recent Accounting Pronouncements – Restructured debt liability – contingent milestone payment”).

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

	Year Ended December 31,
(in thousands)	2017		2016

Amortization of prepaid interest expense	$	911	$	1,710
Cash interest expense		1,088		450
Total interest expense	$	1,999	$	2,160

Amortization of prepaid interest expense represents non-cash amortization of

million of Series A Units and Series B units that Deerfield purchased in our

July 2015

public offering and accepted in satisfaction of

million of future interest payments calculated at an interest rate of

8.75%

under the Deerfield Loan. Cash interest expense represents interest at an annual rate of

8.25%

payable on a quarterly basis.

Note 9 - Stockholders' Equity

12 Months Ended

Dec. 31, 2017

Stockholders' Equity Note Disclosure [Text Block]

Note

–

Stockholders’ Equity

Private Placement Offerings

February 2017

Private Placement

February 15, 2017,

we completed a private placement offering of

7,049

Series A Convertible Preferred Stock units at a price per unit of

$1,495,

for an aggregate purchase price of approximately

$10.5

million, including

$1.6

million of non-cash consideration representing a reduction in amounts due and accrued as of

December 31, 2016

for current development services that otherwise would have become payable in cash in the

first

and

second

quarters of

2017.

Each unit consists of: (i)

one

share of Series A Convertible Preferred Stock, par value

$0.001

per share (Preferred Shares); and (ii) Series A-

Warrants ("Warrants") to purchase

shares of common stock at an exercise price equal to

$27.40

per share. Each Preferred Share

may

be converted at the holder's option at any time into

shares of common stock. The Warrants

may

be exercised through

February 15, 2024.

The Preferred Shares and the Warrants

may

not

be converted or exercised to the extent that the holder would, following such exercise or conversion, beneficially own more than

9.99%

(or other lesser percent as designated by each holder) of our outstanding shares of common stock. In the event of a liquidation, including without limitation, the sale of substantially all of our assets and certain mergers and other corporate transactions (as defined in the Certificate of Designation of Preferences, Rights and Limitations relating to the Preferred Shares), the holder of Preferred Shares will have a liquidation preference that could result in the holder receiving a return of its initial investment before any payments are made to holders of common stock, and then participating with other equity holders until it has received in the aggregate up to

three

times its original investment. In addition to the offering, the securities purchase agreement also provides that, until

February 13, 2018,

the investors are entitled to participate in subsequent bona fide capital raising transactions that we

may

conduct.

To facilitate consummation of the Share Purchase Agreement in

October 2017 (

see –

Share Purchase Agreement

), Battelle, holder of an aggregate of

1,095

shares of our Series A Convertible Preferred Stock, par value

$0.001

per share, executed a waiver wherein Battelle waived its right to the liquidation preference with respect to their Preferred Shares. We considered the relevant accounting guidance and concluded that the waiver did

not

remove a substantive term or otherwise fundamentally change the Preferred Shares. As a result, the Preferred Shares were modified rather than extinguished, and Battelle did

not

receive incremental fair value in the modification. There was, therefore,

incremental expense to be recognized related to the waiver. In addition, we and Battelle entered into a non-binding memorandum of understanding outlining the key terms for a potential restructuring of the amounts due to Battelle under development and collaboration agreements between ourselves and Battelle.

As of

December 31, 2017,

4,348

Preferred Shares have been converted into

217,400

shares of common stock and

2,701

Preferred Shares remain outstanding.

Share Purchase Agreement

Effective

October 27, 2017,

we entered into a Share Purchase Agreement (SPA) with LPH Investments Limited (LPH), a company incorporated in the Cayman Islands with limited liability and an affiliate of Lee’s. Under the SPA, LPH invested

$10

million (the Investment) in our Company and acquired

2,311,604

shares of our common stock (the Shares), at a price of

$4.326

per share, which represented a

15%

premium over the average of the daily volume-weighted average price per share (VWAP) over the

-day trading period ending on and including the date of the SPA. Following the transactions described in the SPA, LPH beneficially owned

73%

of our issued and outstanding shares of common stock. The Investment included cancellation of

$3.9

million in outstanding loans that we borrowed from Lee’s (HK) under the Loan Agreement, effective

August 14, 2017,

between ourselves and Lee's (HK). Pursuant to the SPA, we granted LPH the right to appoint up to

two

individuals to serve on our Board of Directors, and LPH

may

designate such individuals on or prior to the

30th

day following the closing of the transactions contemplated by the SPA (the Closing). In addition, the SPA also amended the executive employment agreement of each of our President and Chief Executive Officer (Craig Fraser), Senior Vice President and Chief Financial Officer (John A. Tattory) and Senior Vice President and Chief Medical Officer (Steven G. Simonson, M.D.), such that the executives agreed to waive the guaranteed Annual Bonuses (as defined in each executive's employment agreement) that otherwise would have been payable to the executives during the

-month period following the change of control to Lee’s. Also under the SPA, each executive was awarded restricted stock units under our

2011

Long-Term Incentive Plan, as amended, having a value when issued equal to the combined total value of the

2017

and

2018

Target Bonus Amounts (as defined in each executive's employment agreement) and initially vesting in

two

equal installments on

March 15, 2018

and

March 15, 2019.

Under the terms of the SPA, we also granted to LPH a preemptive right to purchase in future offerings of equity securities up to that number of shares of our equity securities needed to maintain LPH's percentage of beneficial ownership of our outstanding voting stock immediately prior to each such offering, subject to certain limitations and exclusions.

Contemporaneously with the execution of the SPA, we and LPH entered into a registration rights agreement pursuant to which we agreed to provide certain registration rights with respect to the Shares under the SPA, which rights are limited to registration of up to

25%

of the Shares during the initial

-month period following the closing of the SPA. We issued the Shares to LPH pursuant to Rule

506

(b) of Regulation D and Regulation S under, and Section

(a)(

) of, the Securities Act of

1933.

At-the-Market Program (ATM Program)

Stifel ATM Program

February 11, 2013,

we entered into an At-the-Market Equity Sales Agreement (ATM Agreement) with 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). On

February 11, 2016,

we amended the ATM Agreement to extend the term

three

years until

February 11, 2019.

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. 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.

During

2017,

we completed registered offerings of our common stock under the ATM Program of

42,357

shares, resulting in aggregate gross and net proceeds to us of approximately

$1.1

million and

$1.0

million, respectively.

During

2016,

we completed offerings of our common stock under our ATM Program of

18,013

shares, resulting in aggregate gross and net proceeds to us of approximately

$0.7

million.

Effective with our transition to the OTCQB

Market (OTCQB) tier in early

May 2017,

the ATM Program was

longer available to us.

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, including “catch up” amounts). During

2017

and

2016

we provided for the company match by issuing shares of common stock that are registered pursuant to a registration statement on Form S-

filed with the U.S. Securities and Exchange Commission (SEC). For the years ended

December 31, 2017

and

2016,

the match resulted in the issuance of

7,561

and

8,437

shares of common stock, respectively. Expense associated with the

401

(k) match for the years ended

December 31, 2017

and

2016

was

$0.1

million and

$0.3

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:

	December 31,						Expiration
(in thousands, except price per share data)	2017		2016		Exercise Price		Date

Investors - February 2017 financing		352		-	$	27.40	2/15/2024
Investors - July 2015 financing		240		240	$	196.00	7/22/2022
Investors - July 2015 financing (prefunded)		-		143	$	-	7/22/2022
Battelle - 2014 collaboration agreement (1)		4		5	$	1,400.00	10/10/2024
Deerfield - 2013 loan		-		500	$	786.80	2/13/2019
Total		596		888

(

)

See

, “– Note

– Collaboration, Licensing and Research Funding Agreements" 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

At the

2017

Annual Meeting of Stockholders, our stockholders approved an increase in the number of shares available for issuance under our Amended and Restated

2011

Long-Term Incentive Plan (the

“2011

Plan”) by

37,500.

October 25, 2017

the Board of Directors approved an increase to the number of shares available for issuance under the Plan by

1.75

million, which increase was approved by an action of the majority stockholder by written consent without a meeting of stockholders dated as of

November 13, 2017.

As of

December 31, 2017

and

2016,

we had

1.6

million and

0.1

million shares, respectively, available for potential future issuance under the

2011

Plan.

Common shares reserved for potential future issuance under our

401

(k) Plan

As of

December 31, 2017

and

2016,

we had

807

and

8,368

common shares, respectively, reserved for potential future issuance under the

401

(k) Plan.

Note 10 - Stock Options and Stock-based Employee Compensation

12 Months Ended

Dec. 31, 2017

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

Note

–

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.

There are

1.9

million shares of our common stock authorized under the

2011

Plan, of which

1.6

million shares remain available for issuance. 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,
(in thousands)	2017		2016

Stock Options and RSUs Outstanding
2011 Plan		263		47
2007 Plan		-		1
1998 Plan		-		0
Non-Plan		10		10
Total Outstanding		273		58

Available for Future Grants under 2011 Plan		1,623		52

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 in a series of

three

successive, equal installments beginning with the

first

anniversary of the grant date, and have a

-year term. Non-Plan stock options outstanding are in connection with the hiring of our Chief Executive Officer, Mr. Fraser, on

February 1, 2016.

Mr. Fraser was awarded an inducement grant in accordance with Nasdaq Listing Rule

5635

(c)(

) and this inducement grant is exercisable upon vesting, vests in a series of

three

successive, equal installments beginning with the

first

anniversary of the grant date, and has a

-year term.

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

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

Outstanding at January 1, 2017		57		$	293.20
Granted		41			24.60
Forfeited or expired		(14	)		281.80
Outstanding at December 31, 2017		84		$	163.20		7.8

Vested and exercisable at December 31, 2017		55		$	228.60		7.3

Vested and expected to vest at December 31, 2017		82		$	164.00		7.8

(in thousands, except for weighted-average data)

Restricted Stock Units	Shares			Weighted- Average Grant Date Fair Value

Unvested at January 1, 2017		1		$	36.80
Awarded		190			4.33
Vested		(1	)		36.80
Unvested at December 31, 2017		190		$	4.33

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, 2017

and

2016

was

$17.44

and

$27.80,

respectively. The weighted-average grant-date fair value of RSUs granted during the years ended

December 31, 2017

and

2016

was

$4.33

and

$36.80,

respectively. The total intrinsic value of options outstanding, vested, and exercisable as of

December 31, 2017

are each

$0.

Stock-Based Compensation

We recognized stock-based compensation expense in accordance with ASC Topic

718

$1.6

million for each of the years ended

December 31, 2017

and

2016.

Stock-based compensation expense was classified as follows:

	Year Ended December 31,
(in thousands)	2017		2016

Research and development	$	837	$	614
General and administrative		724		809
Total	$	1,561	$	1,423

Under the

2011

Plan, outstanding awards fully vest upon a change in control. Concurrent with the execution of the share purchase agreement with LPH (See, Note

– Stockholders’ Equity – Private Placement Offerings) and the resulting change in control, all outstanding awards under the

2011

Plan, except for those held by certain executive officers, fully vested and resulted in a

$0.4

million charge to stock based compensation expense in

2017.

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

	Year Ended December 31,
	2017		2016

Weighted average expected volatility		79%		78%
Weighted average expected term (in years)		6.6		5.7
Weighted average risk-free interest rate		2.2%		1.4%
Expected dividends		-		-

The total fair value of the underlying shares of the options vested during

2017

and

2016

equals

$3.1

million and

$1.9

million, respectively. As of

December 31, 2017,

there was

$0.9

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

1.9

years.

Note 11 - Collaboration, Licensing and Research Funding Agreements

12 Months Ended

Dec. 31, 2017

Corporate Partnership, Licensing and Research Funding Agreements [Text Block]

Note

–

Collaboration, Licensing and Research Funding Agreements

Collaboration Agreement

Battelle Memorial Institute

October 2014,

we entered into a collaboration agreement with Battelle providing for the development of a new version (NextGen) of our ADS potentially for use in our remaining AEROSURF development activities and, if approved, initial commercial activities. Under our agreement, we and Battelle are executing a development plan to design, develop, and complete the testing, verification, and documentation of the NextGen ADS, with a sharing of development costs. These costs are recognized in research and development expense as incurred and were

$1.2

million and

$2.9

million for the years ended

December 31, 2017

and

2016,

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

$1,400

per share and a term of

years, subject to earlier termination under certain circumstances, including (i) a warrant to purchase up to

3,571

shares of our common stock, exercisable upon successful completion by Battelle of the

three

stage project plan (Initial Warrant), and (ii) a warrant to purchase up to

1786

shares of our common stock (Additional Warrant), exercisable if and only if Battelle successfully completed the project plan

later than a specified Milestone Date (

November 15, 2016).

The Additional Warrant was cancelled as of

November 15, 2016

as the project plan had

not

been completed by that date. 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.

October 27, 2017,

we entered into a nonbinding memorandum of understanding with Battelle (Battelle MOU) outlining potential terms to restructure certain accounts payable related to our device development activities with Battelle and accordingly, we have written off approximately

$0.6

million of previously accrued interest on collaboration invoices. Among other things, the MOU provides that in connection with the restructuring, the aggregate limit of potential royalties will be increased from

$25

million to

$35

million.

Licensing and Research Funding Agreements

Lee’s Pharmaceutical (HK) Ltd.

June 2017,

we entered into a License, Development and Commercialization Agreement (“License Agreement”) with Lee’s Pharmaceutical (HK) Ltd., a company organized under the laws of Hong Kong (

“

Lee’s”). Under the License Agreement, we granted to Lee’s an exclusive license with a right to sublicense, (i) to develop and commercialize our KL

surfactant products, including SURFAXIN

, which was approved by the U.S. Food and Drug Administration (“FDA”) in

2012

for the prevention of respiratory distress syndrome (“RDS”) in premature infants, SURFAXIN LS™, the lyophilized dosage form of SURFAXIN; and AEROSURF

, an investigative combination drug/device product that is designed to deliver aerosolized KL

surfactant noninvasively, and (ii) to register and manufacture SURFAXIN and SURFAXIN LS for use in the Licensed Territory, which includes the People’s Republic of China (“PRC”), Hong Kong, Thailand, Taiwan and

other countries (the “Licensed Territory”). In addition, we granted Lee’s options to potentially add Japan to the Licensed Territory and to manufacture our ADS in the Licensed Territory, in each case subject to conditions set forth in the License Agreement.

Under the License Agreement, Lee’s made an upfront payment to us of

million. We also

may

receive up to

$37.5

million in potential clinical, regulatory and commercial milestone payments and will share in any sublicense income Lee’s

may

receive at a rate equal to low double digits. In addition, Lee’s will be responsible for all costs and expenses in and for the Licensed Territory related to development activities, including a planned AEROSURF phase

clinical trial, regulatory activities, and commercialization activities.

August 2017,

we entered into a Loan Agreement, pursuant to which Lee’s (HK) agreed to lend us up to

$3.9

million to support our activities through

October 31, 2017,

while we and Lee’s worked to complete a

$10

million securities purchase agreement (Lee’s SPA) pursuant to which Lee’s acquired a controlling interest in our Company effective on

November 1, 2017.

In connection with Lee’s SPA, we amended the License Agreement to expand certain of Lee’s (HK) rights, including by immediately adding Japan to the licensed territory, accelerating the right to manufacture the ADS in and for the licensed territory, reducing or eliminating certain of the milestone and royalty payments and adding an affiliate of Lee’s (HK) as a party to the License Agreement. As a result, the additional amounts for potential clinical, regulatory and commercial milestone were reduced to

$35.8

million.

We will be eligible to receive tiered royalties based on a percent of Net Sales, depending on the product, in the range of high single to low-to-mid double-digit percentages. Royalties are payable on a country-by-country basis until the latest of (A) the expiration of the last valid patent claim covering the product in the country of sale, (B) the expiration or revocation of any applicable regulatory exclusivity in the country of sale, and (C)

ten

(

) years after the

first

commercial sale in the country of sale. Thereafter, in consideration of licensed rights other than patent rights, royalties shall continue for the commercial life of each product and, for the initial

three

years, shall be in the range of low-to-mid single digits. In addition, in the event that

one

or more generic products are introduced, the royalty rates will be reduced, subject to certain minimums if we are subject to continuing obligations at the time to pay royalties under our in-license agreements.

Under the License Agreement, Lee’s will be responsible for all activities related to development, regulatory approval and commercialization of KL

surfactant and combination drug / device products in the Licensed Territory. Lee’s will hold the product licenses for all non-aerosolized products in the Licensed Territory and will seek regulatory approval initially for SURFAXIN and SURFAXIN LS for RDS. We will hold the product license in the Licensed Territory (except where prohibited by law) for all aerosolized products and will designate Lee’s its exclusive agent and representative to develop and register AEROSURF and other aerosolized products in the name of and on our behalf. Lee’s also has agreed that, except as provided in the License Agreement, for a period of

ten

(

) years beginning with the later of the

first

commercial sale of the

first

aerosolized product and the

first

commercial sale of the

first

non-aerosolized product in the PRC, it will

not

develop, register, manufacture, or commercialize any product for the prevention and/or treatment of RDS in premature infants or other diseases and conditions in humans, in either case that administers, utilizes or contains pulmonary surfactant without our prior written consent.

Lee’s

may

sublicense certain activities under the License Agreement to an affiliate of Lee’s, but

may

not

grant sublicenses to unaffiliated

third

parties without our prior consent. A sublicensee and a subcontractor

may

not

be a competitor that we identify to Lee’s. Sublicenses under the License Agreement do

not

include the right to further sublicense. In addition, we and Lee’s have entered into a technology transfer agreement under which we will transfer to Lee’s the manufacturing processes for SURFAXIN and SURFAXIN LS; and we and Lee’s plan to negotiate (i) a manufacturing agreement providing for the manufacture of SURFAXIN and SURFAXIN LS by Lee’s and giving us access to such products outside the Licensed Territory; (ii) a manufacturing and supply agreement providing for the manufacture and supply of AEROSURF drug and medical device components by us to Lee’s; and (iii) such other agreements and amendments as

may

be necessary for the parties to perform their obligations under the License Agreement.

The term of the License Agreement commenced on the effective date of the License Agreement and will continue on a country-by-country basis for the commercial life of the products. Either party

may

terminate the License Agreement in the event of bankruptcy or a material breach of the License Agreement by the other party that remains uncured for a period of

sixty

(

) days. In addition, either party

may

terminate the License Agreement in its entirety or with respect to any individual product or country if a regulatory authority terminates, suspends or discontinues development of a product and such termination, suspension or discontinuance persists for a period in excess of

eighteen

(

) months. Upon termination of the License Agreement in its entirety or with respect to a particular product or country, generally all related rights and licenses granted to Lee’s will terminate, all rights under our technology will revert to us, and Lee’s will cease all use of our technology.

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 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. For

2016,

we paid the minimum royalty of

$250,000

to PMUSA and paid

$62,500

to PMPSA with the remaining

$187,500

deferred until

July 2017.

For

2017,

we paid the minimum royalty of

$300,000

to PMUSA and paid

$487,500

to PMPSA, which included the minimum royalty of

$300,000

as well as the

$187,500

in deferred

2016

payments.

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 KL

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 KL

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 KL

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

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 KL

surfactant products in the Former Esteve Territories.

Note 12 - Commitments

12 Months Ended

Dec. 31, 2017

Commitments Disclosure [Text Block]

Note

–

Commitments

Operating Leases

Our operating leases consist primarily of a facility lease for our operations in Pennsylvania.

We maintain our corporate headquarters and operations in Warrington, Pennsylvania. The facility serves as the main operating facility for drug and device development, regulatory, analytical technical services, research and development, and administration. In

April 2016,

the lease was amended to (i) reduce the leased space from

39,594

square feet to

30,506

square feet and (ii) extend the term an additional

four

years through

February 2022.

The total aggregate base rental payments remaining under the extended portion of the lease as of

December 31, 2017

were approximately

$3.9

million.

February 2018,

the lease was amended to (i) reduce the leased space from

30,506

square feet to

21,189

square feet and (ii) reduce the security deposit under the lease in the form of a letter of credit from

$225,000

$140,000.

The total aggregate base rental payments remaining under the lease as of the date of the amendment were approximately

$2.5

million.

Rent expense under these leases was

$0.7

million and

$0.8

million for the years ended

December 31, 2017

and

2016,

respectively.

Severance

Effective

February 1, 2016,

we terminated the Employment Agreement between ourselves and our then-President and Chief Executive Officer (Former CEO). During the

first

quarter of

2016,

we incurred a severance charge of

$1.2

million in general and administrative expense under the terms of the Former CEO’s employment agreement, including

$0.2

million related to stock option expense for certain options that continued to vest through

August 1, 2017.

Of the

$1.0

million in severance

not

related to stock-based compensation,

$0.9

million was paid as of

December 31, 2017.

During the

second

quarter of

2016,

we incurred a severance charge of

$0.4

million related to a

May 2016

workforce reduction that was a component of a broader effort to initiate cash conservation and other cost reduction measures.

July 13, 2017,

we implemented a reduction in workforce by

employees, representing approximately

42%

of our total workforce, from

employees. The reduction was across all functions of the Company and affected employees were eligible for certain severance and other benefits resulting in a severance charge of

$0.2

million in the

third

quarter of

2017.

Note 13 - Litigation

12 Months Ended

Dec. 31, 2017

Legal Matters and Contingencies [Text Block]

Note

–

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

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.

Note 14 - Income Taxes

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Text Block]

Note

–

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, 2017

and

2016

is as follows:

	December 31,
(in thousands)	2017			2016

Income tax benefit, statutory rates	$	(6,272	)	$	(13,426	)
State taxes on income, net of federal benefit		(398	)		(2,599	)
Impact of tax reform		71,151			-
Research and development tax credit		(797	)		(1,305	)
Employee related		953			1,215
Interest related		(147	)		(890	)
Warrant valuation related		-			(76	)
Income tax expense / (benefit), statutory rates		64,490			(17,081	)
Valuation allowance		(64,490	)		17,081
Income tax benefit, net	$	-		$	-

December 22, 2017,

the U.S. government enacted the

2017

Tax Cuts and Jobs Act (the

2017

Tax Act), which significantly revises U.S. tax law by, among other provisions, lowering the U.S. federal statutory income tax rate to

21%,

imposing a mandatory

one

-time transition tax on previously deferred foreign earnings, and eliminating or reducing certain income tax deductions. As a result of the reduction in the U.S. corporate income tax rate, we revalued our ending net deferred tax assets as of

December 31, 2017

which resulted in a provisional benefit of

$71.2

million. However, this adjustment was offset by a related change in the valuation allowance. The

2017

Tax Act also imposed a tax for a

one

-time deemed repatriation of post-

1986

unremitted foreign E&P through the year ended

December 31, 2017.

We did

not

record any provisional tax expense related to the deemed repatriation as we do

not

have any undistributed foreign earnings.

ASC

740,

Income Taxes requires the effects of changes in tax laws to be recognized in the period in which the legislation is enacted. However, due to the complexity and significance of the

2017

Tax Act’s provisions, the SEC issued SAB

118,

which allows companies to record the tax effects of the

2017

Tax Act on a provisional basis based on a reasonable estimate, and then, if necessary, subsequently adjust such amounts during a limited measurement period as more information becomes available. The measurement period ends when a company has obtained, prepared, and analyzed the information necessary to finalize its accounting, but cannot extend beyond

one

year from enactment. The

2017

Tax Act did

not

have a material impact on our financial statements since our deferred temporary differences are fully offset by a valuation allowance and we do

not

have any off shore earnings from which to record the mandatory transition tax. However, given the significant complexity of the

2017

Tax Act, anticipated guidance from the U.S. Treasury about implementing the

2017

Tax Act, and the potential for additional guidance from the SEC or the FASB related to the

2017

Tax Act, these estimates

may

be adjusted during the measurement period. The provisional amounts disclosed in this footnote were based on the present interpretations of the

2017

Tax Act and current available information, including assumptions and expectations about future events, such as our projected financial performance, and are subject to further refinement as additional information becomes available (including our actual full fiscal

2018

results of operations, as well as potential new or interpretative guidance issued by the FASB or the Internal Revenue Service and other tax agencies) and further analyses are completed. We continue to analyze the changes in certain income tax deductions and gather additional data to compute the full impacts on our deferred and current tax assets and liabilities.

The tax effects of temporary differences that give rise to deferred tax assets and deferred tax liabilities, at

December

31,

2017

and

2016,

are as follows:

	December 31,
(in thousands)	2017			2016

Long-term deferred assets:
Net operating loss carryforwards (Federal and state)	$	168,263		$	234,825
Research and development tax credit		16,813			15,700
Compensation expense on stock		1,191			2,157
Charitable contribution carryforward		5			6
Other accrued		2,547			342
Deferred revenue		317			-
Depreciation		297			460
Total long-term deferred tax assets		189,433			253,490
Valuation allowance		(189,433	)		(253,490	)
Deferred tax assets, net	$	-		$	-

We are in a net deferred tax asset position at

December 31, 2017

and

2016

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, 2017

2016,

nor

were any incurred in

2017

2016.

December 31, 2017

and

2016,

we had available carryforward net operating losses for Federal tax purposes of

$590.0

million and

$581.4

million, respectively, and a research and development tax credit carryforward of

$16.8

million and

$15.7

million, respectively. The Federal net operating loss and research and development tax credit carryforwards will continue to expire through

2037.

December 31, 2017,

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.

December 31, 2017

and

2016,

we had available carryforward losses of approximately

$567.7

million and

$570.3

million, respectively, for state tax purposes. Of the

$567.7

million state tax carryforward losses,

$553.6

million is associated with the state of Pennsylvania, with the remainder associated with the other

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 deferred tax assets and, if a future assessment requires an adjustment, an adjustment would be offset by an adjustment to the valuation allowance. Thus, there would be

impact to the consolidated balance sheet or statement of operations if an adjustment were required.

Note 15 - Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information [Text Block]

Note

–

Selected Quarterly Financial Data (Unaudited)

The following tables contain unaudited statement of operations information for each quarter of

2017

and

2016.

The operating results for any quarter are

not

necessarily indicative of results for any future period.

2017 Quarters Ended:
(in thousands, except per share data)	Mar. 31			June 30 (1)			Sept. 30 (1)			Dec. 31			Total Year
Revenues:
Grant revenue	$	219		$	1,147		$	17		$	-		$	1,383
License revenue		-			-			-			102			102
Total revenues		219			1,147			17			102			1,485
Expenses:
Research and Development		6,413			5,483			3,062			2,418			17,376
Selling, general and administrative		1,922			1,804			1,749			1,182			6,657
Total expenses		8,335			7,287			4,811			3,600			24,033
Operating loss		(8,116	)		(6,140	)		(4,794	)		(3,498	)		(22,548	)
Change in fair value of common stock warrant liability		-			-			-			-			-
Other income / (expense), net		(608	)		(612	)		(649	)		5,971			4,102
Net (loss) / income	$	(8,724	)	$	(6,752	)	$	(5,443	)	$	2,473		$	(18,446	)
Deemed dividend on preferred stock		(3,604	)		(532	)		(2,234	)		-			(6,370	)
Net (loss) / income attributable to common shareholders	$	(12,328	)	$	(7,284	)	$	(7,677	)	$	2,473		$	(24,816	)
Net (loss) / income per common share - basic	$	(27.40	)	$	(14.37	)	$	(10.53	)	$	1.03		$	(24.14	)
Net (loss) / income per common share - diluted	$	(27.40	)	$	(14.37	)	$	(10.53	)	$	0.97		$	(24.14	)
Weighted average number of common shares outstanding - basic		450			507			729			2,405			1,028
Weighted average number of common shares outstanding - diluted		450			507			729			2,540			1,028

2016 Quarters Ended:
(in thousands, except per share data)	Mar. 31			June 30			Sept. 30			Dec. 31			Total Year
Revenues:
Grant revenue		75			106			961			900			2,042
License revenue		-			-			-			-			-
Total revenues		75			106			961			900			2,042
Expenses:
Research and Development		10,360			8,316			7,081			5,948			31,705
Selling, general and administrative		3,657			1,783			1,613			1,320			8,373
Total expenses		14,017			10,099			8,694			7,268			40,078
Operating loss		(13,942	)		(9,993	)		(7,733	)		(6,368	)		(38,036	)
Change in fair value of common stock warrant liability		223			-			-			-			223
Other expense, net		(182	)		(631	)		(630	)		(234	)		(1,677	)
Net loss	$	(13,901	)	$	(10,624	)	$	(8,363	)	$	(6,602	)	$	(39,490	)
Net loss per common share - basic and diluted	$	(34.00	)	$	(25.80	)	$	(20.00	)	$	(15.40	)	$	(94.84	)
Weighted average number of common shares outstanding - basic and diluted		410			412			418			426			416

(

)

Net loss per common share – basic and diluted and weighted average number of common shares outstanding for the quarters ended

June 30, 2017

and

September 30, 2017

have been corrected for immaterial calculation errors related to the conversion of preferred stock to common stock during those periods (See, " – Note

– Stockholders’ Equity – Private Placement Offerings –

February 2017

Private Placement," for further discussion of our preferred stock). The loss per share for the

three

and

six

months ended

June 30, 2017

was reduced by

0.80

The loss per share for the

three

and

nine

months ended

September 30, 2017

was reduced by

$3.40

Note 16 - Subsequent Events

12 Months Ended

Dec. 31, 2017

Subsequent Events [Text Block]

Note

Subsequent Events

We evaluated all events or transactions that occurred after

December 31, 2017

through the date we issued these financial statements. During this period, we noted a subsequent event as described below:

January 2018

and

March 2018,

we entered into loan agreements with LPH Investments Limited (LPH), an affiliate of Lee’s, for loan proceeds of

$1.5

million and

$1.0

million, respectively, to support our AEROSURF development activities and sustain its operations while the parties seek to identify and advance

one

or more potential strategic initiatives (“Funding Event”). To secure our obligations under these loans, we granted Lee’s a security interest in substantially all of our assets. The loans will accrue interest at a rate of

per annum and mature upon the earlier of the closing date of the Funding Event or

December 31, 2018.

The parties expect that, upon the closing of the Funding Event, the outstanding principal balance of the Loan will be applied in full satisfaction of a like amount of cash consideration payable by LPH for its participation in such Funding Event, and the Loan will be discharged in full thereby.

April 2018,

we completed a private placement with LPH II for the purchase of

$2.6

million of our common stock and warrants at a purchase price per share of

$4.80.

In connection with this offering, we issued

541,667

shares of common stock and warrants to purchase

135,417

shares of common stock at an exercise price of

$5.52

per share. The warrants are exercisable after

months and through the

seventh

anniversary of the issue date. In addition, under a Registration Rights Agreement, we agreed to file within

days from

March 30, 2018,

an initial resale registration statement with the SEC to register for subsequent resale the shares and the warrant shares. We are required to seek registration of

25%

of the shares and warrant shares on such initial resale registration statement. From time to time, following the

180th

day from

March 30, 2018,

LPH II or a majority of the holders of the Shares and Warrant Shares

may

require us to file additional registration statement(s) to register the resale of the balance of the Shares and Warrant Shares, subject to certain limitations.

Significant Accounting Policies (Policies)	12 Months Ended
Significant Accounting Policies (Policies)	Dec. 31, 2017
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Consolidation The consolidated financial statements include all accounts of Windtree Therapeutics, Inc. and its inactive subsidiary, Discovery Laboratories, Inc. (formerly known as Acute Therapeutics, Inc.). All intercompany transactions and balances have been eliminated in consolidation.
Use of Estimates, Policy [Policy Text Block]	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, Policy [Policy Text Block]	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, Policy [Policy Text Block]	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, 2017 and 2016, respectively. Other financial instruments, including accounts payable and accrued expenses, are carried at cost, which we believe approximates fair value.
Property, Plant and Equipment, Policy [Policy Text Block]	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.
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	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 for our headquarters location in Warrington, Pennsylvania ( See, " – Note 13 – Commitments," for further discussion on our leases).
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	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, 2017 and 2016 as management believes there are no circumstances that indicate the carrying amount of the assets will not be recoverable.
Collaborative Arrangement, Accounting Policy [Policy Text Block]	Collaborative arrangements We account for collaborative arrangements in accordance with applicable accounting guidance provided in ASC Topic 808, Collaborative Arrangements . See, “– Note 11 – Collaboration, Licensing and Research Funding Agreements – Battelle Memorial Institute,” for a description of our accounting for the Battelle collaboration Agreement.
Restructured Debt Liability, Contingent Milestone Payment, Policy [Policy Text Block]	Restructured debt liability – contingent milestone payment In conjunction with the November 2017 restructuring and retirement of long-term debt ( See, " – Note 8 – Long-term Debt / Restructured debt liability,"), we have established a $15 million long-term liability for contingent milestone payments potentially due under the Exchange and Termination Agreement dated as of October 27, 2017 ( Exchange and Termination Agreement), between ourselves and affiliates of Deerfield Management Company L.P. (Deerfield). The liability has been recorded at full value of the contingent milestones and will continue to be carried at full value until the milestones are achieved and paid or milestones are not achieved and the liability is written off as a gain on debt restructuring.
Revenue Recognition, Deferred Revenue [Policy Text Block]	Deferred revenue Deferred revenue represents amounts collected but not yet earned and includes $1.0 million received in July 2017 for an upfront license fee in connection with the License Agreement with Lee’s. The License Agreement constitutes a multiple-element arrangement and revenue will be recognized as deliverables are completed and all revenue recognition criteria have been met.
Revenue Recognition, Multiple-deliverable Arrangements, Description [Policy Text Block]	Revenue recognition 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 Expense, Policy [Policy Text Block]	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 development 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 in accordance with Accounting Standards Codification (ASC) Topic 730, Research and Development .
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Stock-based compensation Stock-based compensation is accounted for under the fair value recognition provisions of ASC Topic 718, Stock Compensation (ASC Topic 718 ). See , “– Note 10 – 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.
Derivatives, Policy [Policy Text Block]	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.
Income Tax, Policy [Policy Text Block]	Income taxes We account for income taxes in accordance with ASC Topic 740, Accounting for Income Taxes , 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.
Stockholders' Equity Note, Convertible Preferred Stock, Beneficial Conversion Feature, Policy [Policy Text Block]	Beneficial Conversion Feature The issuance of our Preferred Shares in the first quarter of 2017 ( see , “– Note 9 – Stockholders’ Equity”) resulted in a beneficial conversion feature, which arises when a debt or equity security is issued with an embedded conversion option that is beneficial to the investor (or in the money) at inception due to the conversion option having an effective conversion price that is less than the fair value of the underlying stock at the commitment date. We recognized the beneficial conversion feature by allocating the relative fair value of the conversion option, which is the number of shares of common stock available upon conversion multiplied by the difference between the effective conversion price per share and the fair value of common stock per share on the commitment date, to additional paid-in capital, resulting in a discount on the Preferred Shares. As the Preferred Shares are immediately convertible by the holders, the discount allocated to the beneficial conversion feature was immediately accreted and recognized as a $3.6 million one -time, non-cash deemed dividend to the preferred shareholders during the first quarter of 2017. An additional discount to the Preferred Shares of $4.5 million was created due to the allocation of proceeds to the Warrants which were issued with the Preferred Shares. This discount is amortized proportionately as the Preferred Shares are converted. For the year ended December 31, 2017, we recognized a non-cash deemed dividend to the preferred shareholders of $2.4 million related to the Preferred Shares converted during the period.
Earnings Per Share, Policy [Policy Text Block]	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, 2017 and 2016, the number of shares of common stock potentially issuable upon the conversion of preferred stock or the exercise of certain stock options and warrants was 1.0 million and 0.5 million shares, respectively. As of December 31, 2017 and 2016, all potentially dilutive securities were anti-dilutive and therefore have been excluded from the computation of diluted net loss per share. 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, 2016, the effect of the adjustments for warrants classified as derivative liabilities was anti-dilutive. In February 2016, the warrants underlying the derivative liability expired. We do not have any components of other comprehensive income (loss).
Concentration of Suppliers [Policy Text Block]	Concentration of Suppliers We currently obtain the active pharmaceutical ingredients (APIs) of our KL 4 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 KL 4 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.
Segment Reporting, Policy [Policy Text Block]	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.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements Recently Adopted Accounting Standards In August 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014 - 15, Presentation of Financial Statements – Going Concern (Subtopic 205 - 40 ): Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern , which defines management's responsibility to evaluate whether there is substantial doubt about an organization's ability to continue as a going concern and to provide related footnote disclosures. Substantial doubt about an entity's ability to continue as a going concern exists when relevant conditions and events, considered in the aggregate, indicate that it is probable that the entity will be unable to meet its obligations as they become due within one year after the date that the financial statements are issued (or are available to be issued). We adopted ASU 2014 - 15 effective December 31, 2016. Management has concluded that substantial doubt exists with respect to our ability to continue as a going concern through one year after the issuance of these financial statements (see, “– Note 3 – Liquidity Risks and Management's Plans”). In March 2016, the FASB issued ASU 2016 - 09, Compensation - Stock Compensation (Topic 718 ): Improvements to Employee Share-Based Payment Accounting . This update addresses the income tax effects of stock-based payments and eliminates the windfall pool concept, as all of the tax effects related to stock-based payments will now be recorded at settlement (or expiration) through the income statement. The new guidance also permits entities to make an accounting policy election for the impact of forfeitures on the recognition of expense for stock-based payment awards. Forfeitures can be estimated or recognized when they occur. We adopted ASU 2016 - 09 during the three months ended March 31, 2017 and will continue to recognize stock compensation expense with estimated forfeitures. The adoption did not have a material impact on our 2017 financial statements. In November 2016, the FASB issued ASU 2016 - 18, Statement of Cash Flows (Topic 230 ): Restricted Cash . The new standard requires that the statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Entities will also be required to reconcile such total to amounts on the balance sheet and disclose the nature of the restrictions. We adopted ASU 2016 - 18 on March 31, 2017 on a retrospective basis. As a result, beginning-of-period cash, cash equivalents and restricted cash in the statement of cash flows increased by $0.2 million for each of the years ended December 30, 2017 and 2016. Recent Accounting Pronouncements In May 2014, the FASB issued ASU 2014 - 09, Revenue from Contracts with Customers (Topic 606 ) , 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. GAAP when it becomes effective. The new standard is effective for the annual period ending December 31, 2018 and interim periods within that annual period. An entity can elect to apply the guidance under one of the following two methods: (i) retrospectively to each prior reporting period presented, referred to as the full retrospective method or (ii) retrospectively with the cumulative effect of initially applying the standard recognized at the date of initial application in retained earnings, referred to as the modified retrospective method. We have not yet completed our final review of the impact of this guidance including the new disclosure requirements, as we are continuing to evaluate the impact of adoption and the implementation approach to be used. We plan to adopt the new standard effective January 1, 2018 using the modified retrospective method. We continue to monitor additional changes, modifications, clarifications or interpretations being undertaken by the FASB, which may impact its current conclusions. In February 2016, the FASB issued ASU 2016 - 02, Leases (Topic 482 ). This ASU requires lessees to put most leases on their balance sheets but recognize expenses in the income statement in a manner similar to current accounting standards. The ASU is effective for the annual period ending December 31, 2019 and interim periods thereafter. Early adoption is permitted. Entities are required to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements. We are currently evaluating the effect of ASU 2016 - 02 and believe it may have a material impact on our consolidated financial statements and related disclosures. In May 2017, the FASB issued ASU 2017 - 09, Compensation—Stock Compensation (Topic 718 ): Scope of Modification Accounting . This ASU clarifies when to account for a change to the terms or conditions of a share-based payment award as a modification. Under the new guidance, modification accounting is required only if the fair value, the vesting conditions, or the classification of the award (as equity or liability) changes as a result of the change in terms or conditions. The ASU is effective prospectively for the annual period ending December 31, 2018 and interim periods within that annual period. We are currently evaluating the effect that ASU 2017 - 09 may have on our consolidated financial statements and related disclosures, but we do not expect it to have a material impact on our financial statements.

Note 5 - Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

	Fair Value		Fair value measurement using
	December 31,
(in thousands)	2017		Level 1		Level 2		Level 3

Assets:
Cash and cash equivalents	$	1,815	$	1,815	$	-	$	-
Certificate of deposit		225		225		-		-
Total Assets	$	2,040	$	2,040	$	-	$	-

	Fair Value		Fair value measurement using
	December 31,
(in thousands)	2016		Level 1		Level 2		Level 3

Assets:
Cash and cash equivalents	$	5,588	$	5,588	$	-	$	-
Certificate of deposit		225		225		-		-
Total Assets	$	5,813	$	5,813	$	-	$	-

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

(in thousands)

Balance at January 1, 2016	$	223
Change in fair value of common stock warrant liability		(223	)
Balance at December 31, 2016	$	-

Note 6 - Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Table Text Block]

	December 31,
(in thousands)	2017			2016

Manufacturing, laboratory & office equipment	$	4,965		$	4,940
Furniture & fixtures		615			615
Leasehold improvements		2,458			2,459
Subtotal		8,038			8,014
Accumulated depreciation and amortization		(7,153	)		(6,960	)
Property and equipment, net	$	885		$	1,054

Note 7 - Collaborative Payable and Accrued Expenses (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of Accrued Liabilities [Table Text Block]

	December 31,
(in thousands)	2017		2016

Salaries, bonus & benefits	$	1,008	$	1,309
Research and development		1,848		5,174
Manufacturing operations		537		454
Professional fees		412		305
Other		399		369
Total accrued expenses	$	4,204	$	7,611

Note 8 - Long-term Debt Restructured Debt Liability (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of Long-term Debt Instruments [Table Text Block]

	December 31,
(in thousands)	2017		2016

Deerfield Loan	$	-	$	25,000

Restructured debt liability - contingent milestone payments	$	15,000		-

Schedule of Debt Instrument Interest Expense [Table Text Block]

	Year Ended December 31,
(in thousands)	2017		2016

Amortization of prepaid interest expense	$	911	$	1,710
Cash interest expense		1,088		450
Total interest expense	$	1,999	$	2,160

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 4: 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.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=64930739&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21521-112644

+ Details

Note 9 - Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2017

Common Shares Reserved for Future Issuance, Warrants [Table Text Block]

	December 31,						Expiration
(in thousands, except price per share data)	2017		2016		Exercise Price		Date

Investors - February 2017 financing		352		-	$	27.40	2/15/2024
Investors - July 2015 financing		240		240	$	196.00	7/22/2022
Investors - July 2015 financing (prefunded)		-		143	$	-	7/22/2022
Battelle - 2014 collaboration agreement (1)		4		5	$	1,400.00	10/10/2024
Deerfield - 2013 loan		-		500	$	786.80	2/13/2019
Total		596		888

Note 10 - Stock Options and Stock-based Employee Compensation (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of Share Based Compensation Arrangement by Stock Options and Restricted Stock Units Outstanding and Available for Future Issuance [Table Text Block]

<div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0px" cellpadding="0pt" cellspacing="0pt" style="margin: 0pt auto 0pt 0pt; font-size: 10pt; font-family: "Times New Roman", Times, serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="6" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">December 31,</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td colspan="1" style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">(in thousands)</div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2017</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2016</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> </tr> <tr style="vertical-align: bottom; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255); font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td colspan="1" style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Stock Options and RSUs Outstanding</div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255); font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 60%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">2011 Plan</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 15%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">263</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 15%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">47</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255); font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">2007 Plan</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 15%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 15%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255); font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">1998 Plan</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 15%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 15%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255); font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt;">Non-Plan</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 15%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 15%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255); font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td colspan="1" style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Total Outstanding</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td> <td style="width: 15%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">273</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td> <td style="width: 15%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">58</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255); font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255); font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <td colspan="1" style="text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Available for Future Grants under 2011 Plan</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td> <td style="width: 15%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,623</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td> <td style="width: 15%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">52</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> </tr> </table></div>

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]

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

Outstanding at January 1, 2017		57		$	293.20
Granted		41			24.60
Forfeited or expired		(14	)		281.80
Outstanding at December 31, 2017		84		$	163.20		7.8

Vested and exercisable at December 31, 2017		55		$	228.60		7.3

Vested and expected to vest at December 31, 2017		82		$	164.00		7.8

Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]

(in thousands, except for weighted-average data)

Restricted Stock Units	Shares			Weighted- Average Grant Date Fair Value

Unvested at January 1, 2017		1		$	36.80
Awarded		190			4.33
Vested		(1	)		36.80
Unvested at December 31, 2017		190		$	4.33

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

	Year Ended December 31,
(in thousands)	2017		2016

Research and development	$	837	$	614
General and administrative		724		809
Total	$	1,561	$	1,423

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

	Year Ended December 31,
	2017		2016

Weighted average expected volatility		79%		78%
Weighted average expected term (in years)		6.6		5.7
Weighted average risk-free interest rate		2.2%		1.4%
Expected dividends		-		-

Note 14 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

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

	December 31,
(in thousands)	2017			2016

Income tax benefit, statutory rates	$	(6,272	)	$	(13,426	)
State taxes on income, net of federal benefit		(398	)		(2,599	)
Impact of tax reform		71,151			-
Research and development tax credit		(797	)		(1,305	)
Employee related		953			1,215
Interest related		(147	)		(890	)
Warrant valuation related		-			(76	)
Income tax expense / (benefit), statutory rates		64,490			(17,081	)
Valuation allowance		(64,490	)		17,081
Income tax benefit, net	$	-		$	-

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

	December 31,
(in thousands)	2017			2016

Long-term deferred assets:
Net operating loss carryforwards (Federal and state)	$	168,263		$	234,825
Research and development tax credit		16,813			15,700
Compensation expense on stock		1,191			2,157
Charitable contribution carryforward		5			6
Other accrued		2,547			342
Deferred revenue		317			-
Depreciation		297			460
Total long-term deferred tax assets		189,433			253,490
Valuation allowance		(189,433	)		(253,490	)
Deferred tax assets, net	$	-		$	-

Note 15 - Selected Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information [Table Text Block]

2017 Quarters Ended:
(in thousands, except per share data)	Mar. 31			June 30 (1)			Sept. 30 (1)			Dec. 31			Total Year
Revenues:
Grant revenue	$	219		$	1,147		$	17		$	-		$	1,383
License revenue		-			-			-			102			102
Total revenues		219			1,147			17			102			1,485
Expenses:
Research and Development		6,413			5,483			3,062			2,418			17,376
Selling, general and administrative		1,922			1,804			1,749			1,182			6,657
Total expenses		8,335			7,287			4,811			3,600			24,033
Operating loss		(8,116	)		(6,140	)		(4,794	)		(3,498	)		(22,548	)
Change in fair value of common stock warrant liability		-			-			-			-			-
Other income / (expense), net		(608	)		(612	)		(649	)		5,971			4,102
Net (loss) / income	$	(8,724	)	$	(6,752	)	$	(5,443	)	$	2,473		$	(18,446	)
Deemed dividend on preferred stock		(3,604	)		(532	)		(2,234	)		-			(6,370	)
Net (loss) / income attributable to common shareholders	$	(12,328	)	$	(7,284	)	$	(7,677	)	$	2,473		$	(24,816	)
Net (loss) / income per common share - basic	$	(27.40	)	$	(14.37	)	$	(10.53	)	$	1.03		$	(24.14	)
Net (loss) / income per common share - diluted	$	(27.40	)	$	(14.37	)	$	(10.53	)	$	0.97		$	(24.14	)
Weighted average number of common shares outstanding - basic		450			507			729			2,405			1,028
Weighted average number of common shares outstanding - diluted		450			507			729			2,540			1,028

2016 Quarters Ended:
(in thousands, except per share data)	Mar. 31			June 30			Sept. 30			Dec. 31			Total Year
Revenues:
Grant revenue		75			106			961			900			2,042
License revenue		-			-			-			-			-
Total revenues		75			106			961			900			2,042
Expenses:
Research and Development		10,360			8,316			7,081			5,948			31,705
Selling, general and administrative		3,657			1,783			1,613			1,320			8,373
Total expenses		14,017			10,099			8,694			7,268			40,078
Operating loss		(13,942	)		(9,993	)		(7,733	)		(6,368	)		(38,036	)
Change in fair value of common stock warrant liability		223			-			-			-			223
Other expense, net		(182	)		(631	)		(630	)		(234	)		(1,677	)
Net loss	$	(13,901	)	$	(10,624	)	$	(8,363	)	$	(6,602	)	$	(39,490	)
Net loss per common share - basic and diluted	$	(34.00	)	$	(25.80	)	$	(20.00	)	$	(15.40	)	$	(94.84	)
Weighted average number of common shares outstanding - basic and diluted		410			412			418			426			416

Note 2 - Basis of Presentation (Details Textual)	Dec. 22, 2017
Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	20

Note 3 - Liquidity Risks and Management's Plans (Details Textual) - USD ($) $ in Thousands	1 Months Ended
	Apr. 16, 2018	Mar. 31, 2018	Jan. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash and Cash Equivalents, at Carrying Value				$ 1,815	$ 5,588
Accounts Payable and Accrued Liabilities, Current				$ 11,700
Common Stock, Shares Authorized				120,000,000	60,000,000
Preferred Stock, Shares Authorized				5,000,000	5,000,000
Common Stock Capital Shares Available for Issuance				114,100,000
Preferred Stock Capital Shares Available for Issuance				5,000,000
Subsequent Event [Member]
Proceeds from Issuance of Private Placement	$ 2,500
Subsequent Event [Member] \| Private Placement [Member] \| LPH II [Member]
Private Placement, Purchase Price of Common Stock and Warrants	$ 2,600
LPH [Member] \| Subsequent Event [Member]
Proceeds from Issuance of Debt		$ 1,000	$ 1,500

Note 4 - Accounting Policies and Recent Accounting Pronouncements (Details Textual)
$ in Thousands, shares in Millions

1 Months Ended

3 Months Ended

12 Months Ended

Jul. 31, 2017

USD ($)

Dec. 31, 2017

USD ($)

Sep. 30, 2017

USD ($)

^[1]

Jun. 30, 2017

USD ($)

^[1]

Mar. 31, 2017

USD ($)

Dec. 31, 2017

USD ($)

Dec. 31, 2016

USD ($)

Nov. 01, 2017

USD ($)

Liability for Contingent Milestone Payment, Noncurrent

$ 15,000

Preferred Stock Dividends, Income Statement Impact

$ 2,234

$ 532

$ 3,604

6,370

Preferred Stock, Discount on Shares

4,500

$ 4,500

Number of Shares of Common Stock Potentially Issuable upon the Exercise of Stock Options and Warrants | shares

1.0

0.5

Number of Operating Segments

Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect

$ (3,773)

$ (33,134)

Impairment of Long-Lived Assets Held-for-use

Accounting Standards Update 2016-18 [Member]

Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect

200

Reclassification of Cash and Cash Equivalents to Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Member] | Quarter Ended March 31, 2016 [Member]

Prior Period Reclassification Adjustment

200

Conversion of Preferred Stock [Member]

Preferred Stock Dividends, Income Statement Impact

2,800

License Agreement With Lee’s [Member]

Deferred Revenue, Additions

$ 1,000

Deerfield Loan [Member]

Liability for Contingent Milestone Payment, Noncurrent

$ 15,000

Deerfield Loan [Member] | Exchange and Termination Agreement [Member] | Deerfield Management, L.P. [Member]

Liability for Contingent Milestone Payment, Noncurrent

$ 15,000

Minimum [Member]

Property, Plant and Equipment, Useful Life

3 years

Maximum [Member]

Property, Plant and Equipment, Useful Life

10 years

[1]

Net loss per common share - basic and diluted and weighted average number of common shares outstanding for the quarters ended June 30, 2017 and September 30, 2017 have been restated to correct immaterial calculation errors related to the conversion of preferred stock to common stock during those periods (See, " - Note 9 - Stockholders' Equity - Private Placement Offerings - February 2017 Private Placement, " for further discussion of our preferred stock). The loss per share for the three and six months ended June 30, 2017 was reduced by $0.80. The loss per share for the three and nine months ended September 30, 2017 was reduced by $3.40.

Note 5 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Assets:
Cash and cash equivalents	$ 1,815	$ 5,588
Total Assets	2,040	5,813
Certificates of Deposit [Member]
Assets:
Certificate of deposit	225	225
Fair Value, Inputs, Level 1 [Member]
Assets:
Cash and cash equivalents	1,815	5,588
Total Assets	2,040	5,813
Fair Value, Inputs, Level 1 [Member] \| Certificates of Deposit [Member]
Assets:
Certificate of deposit	225	225
Fair Value, Inputs, Level 2 [Member]
Assets:
Cash and cash equivalents
Total Assets
Fair Value, Inputs, Level 2 [Member] \| Certificates of Deposit [Member]
Assets:
Certificate of deposit
Fair Value, Inputs, Level 3 [Member]
Assets:
Cash and cash equivalents
Total Assets
Fair Value, Inputs, Level 3 [Member] \| Certificates of Deposit [Member]
Assets:
Certificate of deposit

Note 5 - Fair Value Measurements - Level 3 Rollforward (Details) - Fair Value, Inputs, Level 3 [Member] - Derivative Financial Instruments, Liabilities [Member] $ in Thousands	12 Months Ended
	Dec. 31, 2016 USD ($)
Balance	$ 223
Change in fair value of common stock warrant liability	(223)
Balance

Note 6 - Property and Equipment (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Depreciation	$ 0.2	$ 0.3

Note 6 - Property and Equipment - Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Property and equipment, gross	$ 8,038	$ 8,014
Accumulated depreciation and amortization	(7,153)	(6,960)
Property and equipment, net	885	1,054
Manufacturing, Laboratory, and Office Equipment [Member]
Property and equipment, gross	4,965	4,940
Furniture and Fixtures [Member]
Property and equipment, gross	615	615
Leasehold Improvements [Member]
Property and equipment, gross	$ 2,458	$ 2,459

Note 7 - Collaborative Payable and Accrued Expenses (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Collaboration Payable, Current	$ 3,624	$ 3,967

Note 7 - Collaboration Payable and Accrued Expenses - Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Salaries, bonus & benefits	$ 1,008	$ 1,309
Research and development	1,848	5,174
Manufacturing operations	537	454
Professional fees	412	305
Other	399	369
Total accrued expenses	$ 4,204	$ 7,611

Note 8 - Long-term Debt Restructured Debt Liability (Details Textual) - USD ($) $ / shares in Units, $ in Thousands					12 Months Ended
	Nov. 01, 2017	Jul. 22, 2015	Dec. 03, 2013	Feb. 13, 2013	Dec. 31, 2017	Dec. 31, 2016	Feb. 15, 2017
Number of Advances					2
Class of Warrant or Right, Exercise Price of Warrants or Rights							$ 27.40
Repayments of Long-term Debt					$ 2,500
Gains (Losses) on Restructuring of Debt					5,824
Stock Issued During Period, Value, Equity Consideration in Debt Restructuring					267
Liability for Contingent Milestone Payment, Noncurrent					$ 15,000
Deerfield Loan [Member]
Debt Instrument, Interest Rate During Period					8.25%
Debt Instrument, Periodic Payment, Principal		$ 5,000			$ 5,000
Long-term Debt, Maturities, Repayments of Principal in Year Two		12,500
Debt Instrument, Prepaid Interest		5,000
Liability for Contingent Milestone Payment, Noncurrent					15,000
Debt Instrument, Periodic Payment, Interest					$ 5,000
Debt Instrument, Interest Rate, Stated Percentage					8.75%
Long-term Debt, Maturities, Repayments of Principal in Year Three		$ 12,500
Deerfield Loan [Member] \| Exchange and Termination Agreement [Member] \| Deerfield Management, L.P. [Member]
Extinguishment of Debt, Amount	$ 25,000
Repayments of Long-term Debt	$ 2,500
Stock Issued During Period, Shares, Cancellation of Debt and Warrant Obligations	71,111
Gains (Losses) on Restructuring of Debt	$ 5,800
Extinguishment of Debt, Write-off of Prepaid Interest	1,400
Stock Issued During Period, Value, Equity Consideration in Debt Restructuring	300
Liability for Contingent Milestone Payment, Noncurrent	$ 15,000
First Advance [Member]
Class of Warrant or Right, Issued During Period				10,000
Class of Warrant or Right, Exercise Price of Warrants or Rights				$ 786.80
Second Advance [Member]
Class of Warrant or Right, Issued During Period			15,000
Class of Warrant or Right, Exercise Price of Warrants or Rights			$ 786.80
Deerfield Loan Warrants [Member]
Class of Warrants or Rights, Term of Warrants					6 years
Deerfield Loan Warrants [Member] \| Exchange and Termination Agreement [Member] \| Deerfield Management, L.P. [Member]
Class of Warrant or Right, Number of Warrants Cancelled	25,000
Class of Warrant or Right, Exercise Price of Cancelled Warrants	$ 786.80
First Advance [Member]
Proceeds from Lines of Credit				$ 10,000
Second Advance [Member]
Proceeds from Lines of Credit			$ 20,000
Deerfield Debt Restructuring [Member]
Debt Instrument, Interest Rate During Period					8.75%

Note 8 - Long-term Debt Restructured Debt Liability - Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Restructured debt liability - contingent milestone payments	$ 15,000
Deerfield Loan [Member]
Deerfield Loan		25,000
Restructured debt liability - contingent milestone payments	$ 15,000

Note 8 - Long-term Debt Restructured Debt Liability - Long-term Debt Interest Expense (Details) - Deerfield Loan [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Amortization of prepaid interest expense	$ 911	$ 1,710
Cash interest expense	1,088	450
Total interest expense	$ 1,999	$ 2,160

Note 9 - Stockholders' Equity (Details Textual) - USD ($)						1 Months Ended	12 Months Ended
	Nov. 01, 2017	Oct. 27, 2017	Oct. 25, 2017	Feb. 15, 2017	Feb. 11, 2013	Oct. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Nov. 08, 2017
Preferred Stock, Par or Stated Value Per Share				$ 0.001			$ 0.001	$ 0.001
Class of Warrant or Right, Exercise Price of Warrants or Rights				27.40
Preferred Stock, Shares Outstanding							2,701	0	2,701
Proceeds from Issuance of Common Stock							$ 1,036,000	$ 709,000
Common Stock, Capital Shares Reserved for Future Issuance							596,000	888,000
The 2011 Long-term Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized			1,750,000				37,500
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant							1,623,000	52,000
The 401(k) Plan [Member]
Common Stock, Capital Shares Reserved for Future Issuance							807	8,368
LPH [Member] \| Acquisition of Windtree [Member]
Business Combination, Consideration Transferred	$ 10,000,000	$ 10,000,000
Business Acquisition, Shares Acquired, Number		2,311,604
Business Acquisition, Share Price		$ 4.326
Business Acquisition, Shares Acquired, Price Per Share, Percentage Premium		15.00%
Business Acquisition, Percentage of Voting Interests Acquired		73.00%
Business Combination, Consideration Transferred, Liabilities Cancelled		$ 3,900,000
Business Combination, Number of Individuals Acquirer May Appoint to the Acquiree's Board of Directors		2
Business Combination, Registration Rights Agreement, Maximum Rights Percentage in First 18 Months		25.00%
Conversion of Series A Convertible Preferred Stock into Common Stock [Member]
Conversion of Stock, Shares Converted							4,348
Conversion of Stock, Shares Issued							217,400
Series A Preferred Stock [Member]
Preferred Stock, Par or Stated Value Per Share						$ 0.001
Series A Preferred Stock [Member] \| Battelle [Member]
Preferred Stock, Convertible, Shares, Liquidity Preference Waived						1,095
Private Placement [Member]
Convertible Preferred Stock Units, Price Per Unit				$ 1,495
Private Placement [Member] \| Series A Units [Member]
Stock Issued During Period, Shares, New Issues				7,049
Gross Proceeds From Issuance Of Units				$ 10,500,000
Non-cash Consideration Received				$ 1,600,000
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right				1
Private Placement [Member] \| Series A Warrant [Member]
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right				50
Class of Warrants, May Not Exercise To Extent, Percentage				9.99%
Stifel ATM Program [Member]
Stock Issued During Period, Shares, New Issues							42,357	18,013
Agency Agreement Period					3 years
Maximum Potential Common Stock Available for Issue, Value					$ 25,000,000
Percentage Sales Commission on Shares					3.00%
Proceeds from Issuance of Common Stock							$ 1,100,000	$ 700,000
Proceeds from Issuance of Common Stock, Net							$ 1,000,000
The 401(k) Plan [Member]
Stock Issued During Period, Shares, New Issues							7,561	8,437
Defined Contribution Plan, Cost							$ 100,000	$ 300,000

Note 9 - Stockholders' Equity - Common Shares Reserved for Future Issuance (Details) - $ / shares
shares in Thousands

12 Months Ended

Dec. 31, 2017

Feb. 15, 2017

Dec. 31, 2016

Common Stock, Capital Shares Reserved for Future Issuance

596

888

Class of Warrant or Right, Exercise Price of Warrants or Rights

$ 27.40

Investors - February 2017 Financing [Member]

Common Stock, Capital Shares Reserved for Future Issuance

352

Class of Warrant or Right, Exercise Price of Warrants or Rights

$ 27.40

Investors - July 2015 Financing [Member]

2/15/2024

Common Stock, Capital Shares Reserved for Future Issuance

240

Class of Warrant or Right, Exercise Price of Warrants or Rights

$ 196

Investors - July 2015 Financing (Prefunded) [Member]

7/22/2022

Common Stock, Capital Shares Reserved for Future Issuance

143

Class of Warrant or Right, Exercise Price of Warrants or Rights

Battelle 2014 Collaboration Agreement [Member]

7/22/2022

Common Stock, Capital Shares Reserved for Future Issuance

^[1]

Class of Warrant or Right, Exercise Price of Warrants or Rights

^[1]

$ 1,400

Deerfield - 2013 Loan [Member]

^[1]

10/10/2024

Common Stock, Capital Shares Reserved for Future Issuance

500

Class of Warrant or Right, Exercise Price of Warrants or Rights

$ 786.80