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Document And Entity Information - shares	6 Months Ended
Document And Entity Information - shares	Jun. 30, 2019	Aug. 06, 2019
Document And Entity Information [Abstract]
Entity Registrant Name	AVADEL PHARMACEUTICALS PLC
Entity Central Index Key	0001012477
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Smaller Reporting Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		37,450,300

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF LOSS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues:
Total revenues	$ 17,554	$ 29,230	$ 33,991	$ 62,523
Operating expenses:
Cost of products	3,622	3,512	6,888	10,104
Research and development expenses	10,292	11,890	17,621	21,841
Selling, general and administrative expenses	6,758	27,843	17,204	52,330
Intangible asset amortization	204	1,609	405	3,376
Changes in fair value of related party contingent consideration	(377)	(12,889)	1,757	(9,921)
Restructuring costs	1,506	50	2,734	203
Total operating expenses	22,005	32,015	46,609	77,933
Operating loss	(4,451)	(2,785)	(12,618)	(15,410)
Investment and other income, net	950	583	1,767	637
Interest expense	(3,106)	(2,980)	(6,168)	(4,577)
Loss on deconsolidation of subsidiary	(167)	0	(2,840)	0
Other (expense) income - changes in fair value of related party payable	(50)	1,402	(357)	1,007
Loss before income taxes	(6,824)	(3,780)	(20,216)	(18,343)
Income tax provision (benefit)	1,781	(342)	1,407	(2,669)
Net loss	$ (8,605)	$ (3,438)	$ (21,623)	$ (15,674)
Net income (loss) per share - basic (in dollars per share)	$ (0.23)	$ (0.09)	$ (0.58)	$ (0.42)
Net income (loss) per share - diluted (in dollars per share)	$ (0.23)	$ (0.09)	$ (0.58)	$ (0.42)
Weighted average number of shares outstanding - basic (in shares)	37,356	36,772	37,355	37,666
Weighted average number of shares outstanding - diluted (in shares)	37,356	36,772	37,355	37,666
Product sales
Revenues:
Total revenues	$ 17,554	$ 29,116	$ 33,991	$ 62,277
License revenue
Revenues:
Total revenues	$ 0	$ 114	$ 0	$ 246

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Other Comprehensive Income (Loss), Tax [Abstract]
Net loss	$ (8,605)	$ (3,438)	$ (21,623)	$ (15,674)
Other comprehensive (loss) income, net of tax:
Foreign currency translation gain (loss)	62	(482)	(99)	(233)
Net other comprehensive income (loss), net of ($23), ($11), ($41) and ($70) tax, respectively	293	78	667	(160)
Total other comprehensive income (loss), net of tax	355	(404)	568	(393)
Total comprehensive loss	$ (8,250)	$ (3,842)	$ (21,055)	$ (16,067)

- Definition

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

+ References + Details

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Other comprehensive income (loss), tax	$ (23)	$ (11)	$ (41)	$ (70)

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 17,111	$ 9,325
Marketable securities	62,151	90,590
Accounts receivable	10,172	11,330
Inventories	2,601	4,770
Prepaid expenses and other current assets	5,165	8,836
Total current assets	97,200	124,851
Property and equipment, net	934	1,911
Operating lease right-of-use assets	5,454
Goodwill	18,491	18,491
Intangible assets, net	1,224	1,629
Research and development tax credit receivable	7,833	7,272
Other non-current assets	34,573	36,146
Total assets	165,709	190,300
Current liabilities:
Current portion of long-term debt	105	106
Current portion of long-term related party payable	8,264	9,439
Current portion of operating lease liability	999
Accounts payable	4,798	3,503
Accrued expenses	15,737	21,695
Other current liabilities	3,677	3,640
Total current liabilities	33,580	38,383
Long-term debt, less current portion	118,631	115,734
Long-term related party payable, less current portion	15,983	19,401
Long-term operating lease liability	3,617
Other non-current liabilities	11,675	14,002
Total liabilities	183,486	187,520
Shareholders’ (deficit) equity:
Preferred shares, nominal value of $0.01 per share; 50,000 shares authorized; none issued or outstanding at June 30, 2019 and December 31, 2018, respectively	0	0
Ordinary shares, nominal value of $0.01 per share; 500,000 shares authorized; 42,763 issued and 37,356 outstanding at June 30, 2019 and 42,720 issued and 37,313 outstanding at December 31, 2018	427	427
Treasury shares, at cost, 5,407 shares held at June 30, 2019 and December 31, 2018, respectively	(49,998)	(49,998)
Additional paid-in capital	434,254	433,756
Accumulated deficit	(379,612)	(357,989)
Accumulated other comprehensive loss	(22,848)	(23,416)
Total shareholders’ (deficit) equity	(17,777)	2,780
Total liabilities and shareholders’ (deficit) equity	$ 165,709	$ 190,300

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2019	Dec. 31, 2017
Statement of Financial Position [Abstract]
Preferred shares, nominal value (in usd per share)	$ 0.01	$ 0.01
Preferred shares, shares authorized (in shares)	50,000,000	50,000,000
Preferred shares, shares issued (in shares)	0	0
Preferred shares, shares outstanding (in shares)	0	0
Ordinary shares, nominal value (in usd per share)	$ 0.01	$ 0.01
Ordinary shares, shares authorized (in shares)	500,000,000	500,000,000
Ordinary shares, shares issued (in shares)	42,763,000	42,720,000
Ordinary shares, shares outstanding (in shares)	37,356,000	37,313,000
Treasury stock, shares held (in shares)	5,407,000	5,407,000

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ (DEFICIT) EQUITY Statement - USD ($) shares in Thousands, $ in Thousands	Total	Ordinary shares	Additional paid-in capital	Accumulated deficit	Accumulated other comprehensive (loss) income	Treasury Shares
Beginning balance (in shares) at Dec. 31, 2017		41,463				2,117
Beginning balance at Dec. 31, 2017	$ 85,580	$ 414	$ 393,478	$ (262,685)	$ (23,266)	$ (22,361)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(12,236)			(12,236)
Other comprehensive income (loss)	(404)				(404)
Stock-based compensation expense	2,134		2,134
Exercise of warrants (in shares)		603
Exercise of warrants	2,911	$ 6	2,905
Expiration of warrants	2,167		2,167
Equity component of 2023 Notes	26,699		26,699
Share repurchases (in shares)						2,307
Share repurchases	(20,212)					$ (20,212)
Ending balance (in shares) at Mar. 31, 2018		42,066				4,424
Ending balance at Mar. 31, 2018	86,639	$ 420	427,383	(274,921)	(23,670)	$ (42,573)
Beginning balance (in shares) at Dec. 31, 2017		41,463				2,117
Beginning balance at Dec. 31, 2017	85,580	$ 414	393,478	(262,685)	(23,266)	$ (22,361)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(15,674)
Ending balance (in shares) at Jun. 30, 2018		42,148				5,407
Ending balance at Jun. 30, 2018	78,546	$ 421	430,141	(278,359)	(23,659)	$ (49,998)
Beginning balance (in shares) at Mar. 31, 2018		42,066				4,424
Beginning balance at Mar. 31, 2018	86,639	$ 420	427,383	(274,921)	(23,670)	$ (42,573)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(3,438)			(3,438)
Other comprehensive income (loss)	11				11
Stock-based compensation expense	2,224		2,224
Exercise of warrants (in shares)		82
Exercise of warrants	535	$ 1	534
Share repurchases (in shares)						983
Share repurchases	(7,425)					$ (7,425)
Ending balance (in shares) at Jun. 30, 2018		42,148				5,407
Ending balance at Jun. 30, 2018	78,546	$ 421	430,141	(278,359)	(23,659)	$ (49,998)
Beginning balance (in shares) at Dec. 31, 2018		42,720				5,407
Beginning balance at Dec. 31, 2018	2,780	$ 427	433,756	(357,989)	(23,416)	$ (49,998)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(13,018)			(13,018)
Other comprehensive income (loss)	213				213
Vesting of restricted shares (in shares)		1
Vesting of restricted shares	0
Employee share purchase plan share issuance (in shares)		42
Employee share purchase plan share issuance	92		92
Stock-based compensation expense	351		351
Ending balance (in shares) at Mar. 31, 2019		42,763				5,407
Ending balance at Mar. 31, 2019	(9,582)	$ 427	434,199	(371,007)	(23,203)	$ (49,998)
Beginning balance (in shares) at Dec. 31, 2018		42,720				5,407
Beginning balance at Dec. 31, 2018	2,780	$ 427	433,756	(357,989)	(23,416)	$ (49,998)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(21,623)
Ending balance (in shares) at Jun. 30, 2019		42,763				5,407
Ending balance at Jun. 30, 2019	(17,777)	$ 427	434,254	(379,612)	(22,848)	$ (49,998)
Beginning balance (in shares) at Mar. 31, 2019		42,763				5,407
Beginning balance at Mar. 31, 2019	(9,582)	$ 427	434,199	(371,007)	(23,203)	$ (49,998)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(8,605)			(8,605)
Other comprehensive income (loss)	355				355
Stock-based compensation expense	55		55
Ending balance (in shares) at Jun. 30, 2019		42,763				5,407
Ending balance at Jun. 30, 2019	$ (17,777)	$ 427	$ 434,254	$ (379,612)	$ (22,848)	$ (49,998)

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities:
Net loss	$ (21,623)	$ (15,674)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	1,064	3,810
Loss on disposal of property and equipment	478	0
Amortization of premiums on marketable securities	17	1,693
Remeasurement of related party acquisition-related contingent consideration	1,757	(9,921)
Remeasurement of related party financing-related contingent consideration	357	(1,007)
Amortization of debt discount and debt issuance costs	2,918	2,019
Change in deferred tax and income tax deferred charge	1,900	(3,247)
Stock-based compensation expense	406	4,358
Loss on deconsolidation of subsidiary	1,750	0
Other adjustments	(1,012)	91
Net changes in assets and liabilities
Accounts receivable	579	(157)
Inventories	2,124	(242)
Prepaid expenses and other current assets	(1,829)	1,587
Research and development tax credit receivable	(593)	(1,003)
Accounts payable & other current liabilities	3,127	5,206
Accrued expenses	(3,737)	(9,831)
Earn-out payments for related party contingent consideration in excess of acquisition-date fair value	(5,790)	(11,113)
Royalty payments for related party payable in excess of original fair value	(917)	(1,618)
Other assets and liabilities	(3,629)	(2,893)
Net cash used in operating activities	(22,653)	(37,942)
Cash flows from investing activities:
Purchases of property and equipment	(29)	(99)
Proceeds from the disposal of property and equipment	154	0
Purchase of intangible asset	0	(20,000)
Proceeds from sales of marketable securities	52,202	253,525
Purchases of marketable securities	(21,991)	(312,638)
Net cash provided by (used in) investing activities	30,336	(79,212)
Cash flows from financing activities:
Earn-out payments for related party contingent consideration	0	(645)
Proceeds from debt issuance	0	143,750
Payments for debt issuance costs	0	(5,760)
Share repurchases	0	(27,637)
Proceeds from issuance of ordinary shares and warrants	92	3,446
Other financing activities, net	(37)	6
Net cash provided by financing activities	55	113,160
Effect of foreign currency exchange rate changes on cash and cash equivalents	48	(93)
Net change in cash and cash equivalents	7,786	(4,087)
Cash and cash equivalents at January 1,	9,325	16,564
Cash and cash equivalents at June 30,	17,111	12,477
Supplemental disclosures of cash flow information:
Interest paid	3,234	394
Income taxes paid	$ 140	$ 409

Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2019

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Nature of Operations. Avadel Pharmaceuticals plc (Nasdaq: AVDL) (“Avadel,” the “Company,” “we,” “our,” or “us”) is a branded specialty pharmaceutical company. Our primary focus is on the development and potential U.S. Food and Drug Administration (“FDA”) approval for FT218 which is in a Phase 3 clinical trial for the treatment of narcolepsy patients suffering from excessive daytime sleepiness (EDS) and cataplexy. In addition, we market three sterile injectable drugs used in the hospital setting which were developed under our “unapproved marketed drug” (UMD) program. The Company is headquartered in Dublin, Ireland with operations in St. Louis, Missouri and Lyon, France. For more information, please visit www.avadel.com.

Avadel is developing FT218, an investigational once-nightly formulation of sodium oxybate based on its propriety Micropump® drug delivery technology, for the treatment of EDS and cataplexy in patients suffering from narcolepsy. FT218 is currently being evaluated in a Phase 3 clinical trial called REST-ON. In addition, the Company submitted a new drug application (“NDA”) in March 2019 on a fourth sterile injectable drug used in the hospital setting (“UMD #4”), which, if approved, could contribute revenues to Avadel starting in 2020. In May 2019, the FDA accepted this NDA, AV001, with a Prescription Drug User Fee Act (PDUFA) target action date of December 15, 2019.

Our current marketed products include:


•	Akovaz® (ephedrine sulfate injection, USP), an alpha- and beta-adrenergic agonist and a norepinephrine-releasing agent that is indicated for the treatment of clinically important hypotension occurring in the setting of anesthesia.


•	Bloxiverz® (neostigmine methylsulfate injection), a cholinesterase inhibitor, is indicated for the reversal of the effects of non-depolarizing neuromuscular blocking agents (NMBAs) after surgery.


•	Vazculep® (phenylephrine hydrochloride injection), an alpha-1 adrenergic receptor agonist indicated for the treatment of clinically important hypotension resulting primarily from vasodilation in the setting of anesthesia.

Each of our Akovaz, Bloxiverz and Vazculep products is used primarily in the hospital setting and was developed under our UMD program.

The Company was incorporated on December 1, 2015 as an Irish private limited company, and re-registered as an Irish public limited company, or plc, on November 21, 2016. Our principal place of business is located at Block 10-1, Blanchardstown Corporate Park, Ballycoolin, Dublin 15, Ireland. Avadel’s phone number is 011-353-1-485-1200. Our website is www.avadel.com, where we make available free of charge our reports (and any amendments thereto) on Forms 10-K, 10-Q and 8-K as soon as reasonably practicable after they are electronically filed with or furnished to the U.S. Securities and Exchange Commission (“SEC”). These filings are also available to the public at www.sec.gov.

The Company is the successor to Flamel Technologies S.A., a French société anonyme (“Flamel”), as the result of the France-to-Ireland redomestication merger of Flamel with and into the Company completed on December 31, 2016 (the “Merger”). In the Merger, we changed our company name to Avadel Pharmaceuticals plc and our jurisdiction of organization to Ireland; we assumed all the assets and liabilities of Flamel; and we issued one Avadel ordinary share (either directly or in the form of an American Depositary Share (ADS)) in exchange for each formerly outstanding share of Flamel, all of which were canceled. Thus, an Avadel ordinary share held (either directly or represented by an ADS) immediately after the Merger continued to represent the same proportional interest in our equity owned by the holder of a share of Flamel immediately prior to the Merger. References in this Annual Report on Form 10-K to “Avadel,” the “Company,” “we,” “our,” “us,” and similar terms shall be deemed to be references to Flamel prior to the completion of the Merger, unless the context otherwise requires. Additional details about the Merger are set forth in Item 1 under the caption “The Reincorporation Merger” of the Company’s Annual Report on Form 10-K filed with the SEC on March 15, 2019.

The Company currently has five direct wholly-owned subsidiaries: (a) Avadel US Holdings, Inc., (b) Flamel Ireland Limited, which conducts business under the name Avadel Ireland, (c) Avadel Investment Company Limited, (d) Avadel Finance Ireland Designated Activity Company and (e) Avadel France Holding SAS. Avadel US Holdings, Inc., a Delaware corporation, is the holding entity of (i) Avadel Specialty Pharmaceuticals, LLC (currently the subject of a voluntary Chapter 11 bankruptcy proceeding as noted in Note 3: Subsidiary Bankruptcy and Deconsolidation), (ii) Avadel Legacy Pharmaceuticals, LLC, (iii) Avadel Management Corporation, (iv) FSC Holding Company and (v) Avadel Operations Company, Inc. Avadel Finance Ireland Designated Activity Company is the holding entity of Avadel Finance Cayman Limited. Flamel Ireland Limited (operating under the trade name Avadel Ireland) is an Irish corporation which, since December 16, 2014, has been the owner of substantially all of Avadel’s intellectual property. Avadel France Holding SAS, a French société par actions simplifiée, is the holding entity of Avadel Research SAS through which Avadel conducts substantially all of its R&D activities.

Basis of Presentation. The unaudited condensed consolidated balance sheet as of June 30, 2019, which is derived from the prior year 2018 audited consolidated financial statements, and the interim unaudited condensed consolidated financial statements presented herein, have been prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP), the requirements of Form 10-Q and Article 10 of Regulation S-X and, consequently, do not include all information or footnotes required by U.S. GAAP for complete financial statements or all the disclosures normally made in an annual report on Form 10-K. Accordingly, the unaudited condensed consolidated financial statements included herein should be read in conjunction with the audited consolidated financial statements and footnotes included in the Company’s 2018 Annual Report on Form 10-K filed with the SEC on March 15, 2019.

The unaudited condensed consolidated financial statements include the accounts of the Company and subsidiaries, and reflect all adjustments (consisting only of normal recurring adjustments) that are, in the opinion of management, necessary for a fair presentation of the Company’s financial position, results of operations and cash flows for the dates and periods presented. All material intercompany accounts and transactions have been eliminated. Results for interim periods are not necessarily indicative of the results to be expected during the remainder of the current year or for any future period.

On February 6, 2019, the Company’s indirect wholly-owned subsidiary, Avadel Specialty Pharmaceuticals, LLC (“Specialty Pharma”), filed a voluntary petition for reorganization under Chapter 11 of the United States (“U.S.”) Code (the “Bankruptcy Code”). in the U.S. District Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”), Case No. 19-10248. Specialty Pharma is operating and managing its business as “debtors-in-possession” under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code and order of the Bankruptcy Court. As a result of Specialty Pharma’s voluntary bankruptcy filing on February 6, 2019, we no longer controlled the operations of Specialty Pharma; therefore, we deconsolidated Specialty Pharma effective with the bankruptcy filing and the Company recorded its investment in Specialty Pharma under the cost method. See Note 3: Subsidiary Bankruptcy and Deconsolidation. Our results of operations for the period January 1, 2019 through February 6, 2019 include the results of Specialty Pharma prior to its February 6, 2019 voluntary petition for reorganization under Chapter 11 of the U.S. Bankruptcy Code.

Our results of operations for the period January 1, 2018 through February 16, 2018 include the results of FSC Therapeutics and FSC Laboratories, Inc., (collectively “FSC”), prior to its February 16, 2018 disposition date. See Note 14: Divestiture of the Pediatric Assets, for additional information. All intercompany accounts and transactions have been eliminated.

Revenue. Revenue includes sales of pharmaceutical products, licensing fees, and, if any, milestone payments for research and development (“R&D”) achievements.

Accounting Standards Codification (“ASC”) Topic 606, “Revenue from Contracts with Customers” applies to all contracts with customers, except for contracts that are within the scope of other standards, such as leases, insurance, collaboration arrangements and financial instruments. Under ASC 606, an entity recognizes revenue when the performance obligations to the customer have been satisfied through the transfer of control of the goods or services. To determine the appropriate revenue recognition for arrangements that the Company believes are within the scope of ASC 606, we perform the following five steps: (i) Identify the contract(s) with a customer; (ii) Identify the performance obligations in the contract; (iii) Determine the transaction price; (iv) Allocate the transaction price to the performance obligations in the contract; and (v) Recognize revenue when (or as) the entity satisfies a performance obligation. The Company applies the five-step model to contracts only when the Company and its customer’s rights and obligations under the contract can be determined, the contract has commercial substance, and it is probable that the Company will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. For contracts that are determined to be within the scope of ASC 606, the Company identifies the promised goods or services in the contract to determine if they are separate performance obligations or if they should be bundled with other goods and services into a single performance obligation. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied.

Product Sales and Services

The Company sells products primarily through wholesalers and considers these wholesalers to be its customers. Under ASC 606, revenue from product sales is recognized when the customer obtains control of the Company’s product, which occurs typically upon receipt by the customer. As is customary in the pharmaceutical industry, the Company’s gross product sales are subject to a variety of price adjustments in arriving at reported net product sales. These adjustments include estimates of product returns, chargebacks, payment discounts, rebates, and other sales allowances and are estimated based on analysis of historical data for the product or comparable products, future expectations for such products and other judgments and analysis.

License Revenue

The Company from time to time may enter into out-licensing agreements which are within the scope of ASC 606 under which it licenses to third parties certain rights to its products or intellectual property. The terms of these arrangements typically include payment to the Company of one or more of the following: non-refundable, upfront license fees; development, regulatory, and commercial milestone payments; and sales-based royalty payments. Each of these payments results in license revenue.

For a complete discussion of the accounting for net product revenue and license revenues, see Note 4: Revenue Recognition.

Newly Issued Accounting Pronouncements	6 Months Ended
Newly Issued Accounting Pronouncements	Jun. 30, 2019
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Newly Issued Accounting Pronouncements	Newly Issued Accounting Standards Recent Accounting Guidance Not Yet Adopted In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework— Changes to the Disclosure Requirement for Fair Value Measurement” which amends certain disclosure requirements over Level 1, Level 2 and Level 3 fair value measurements. The amendments in ASU 2018-13 are effective for fiscal years beginning after December 15, 2019, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2018-13. In January 2017, the FASB issued ASU 2017-04, “Intangibles - Goodwill and Other: Simplifying the Test for Goodwill Impairment.” This update eliminates step 2 from the goodwill impairment test, and requires the goodwill impairment test to be performed by comparing the fair value of a reporting unit with its carrying amount. An impairment charge should be recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. This guidance is effective for the Company in the first quarter of 2020. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company will assess the timing of adoption and impact of this guidance to future impairment considerations.

Subsidiary Bankruptcy and Deconsolidation	6 Months Ended
Subsidiary Bankruptcy and Deconsolidation	Jun. 30, 2019
Reorganizations [Abstract]
Subsidiary Bankruptcy and Deconsolidation	Subsidiary Bankruptcy and Deconsolidation Bankruptcy Filing and Deconsolidation As a result of Specialty Pharma’s bankruptcy filing on February 6, 2019, Avadel has ceded authority for managing the business to the Bankruptcy Court, and Avadel management cannot carry on Specialty Pharma’s activities in the ordinary course of business without Bankruptcy Court approval. Avadel manages the day-to-day operations of Specialty Pharma, but does not have discretion to make significant capital or operating budgetary changes or decisions and purchase or sell significant assets, as Specialty Pharma’s material decisions are subject to review by the Bankruptcy Court. For these reasons, we have concluded that Avadel has lost control of Specialty Pharma, and no longer has significant influence over Specialty Pharma during the pendency of the bankruptcy. Therefore, we deconsolidated Specialty Pharma effective with the filing of the Chapter 11 bankruptcy in February 2019. In order to deconsolidate Specialty Pharma, the carrying values of the assets and certain liabilities of Specialty Pharma were removed from our unaudited condensed consolidated balance sheet as of February 5, 2019, and we recorded our investment in Specialty Pharma at its estimated fair value of $0. As the estimated fair value of our investment in Specialty Pharma was lower than its net book value immediately prior to the deconsolidation, we recorded a non-cash charge of approximately $167 and 2,840 for the three and six months ended June 30, 2019, respectively, associated with the deconsolidation of Specialty Pharma. Subsequent to the deconsolidation of Specialty Pharma, we are accounting for our investment in Specialty Pharma using the cost method of accounting because Avadel does not exercise significant influence over the operations of Specialty Pharma due to the Chapter 11 filing. On April 26, 2019, Specialty Pharma sold its intangible assets and remaining inventory to an unaffiliated third party in exchange for aggregate cash proceeds of approximately $250, pursuant to an order approving such sale which was issued by the Bankruptcy Court on April 15, 2019. As a result of such sale, Specialty Pharma has completed its divestment of the assets of the Noctiva business. On July 2, 2019, Specialty Pharma was made aware of a $50,695 claim made by the Internal Revenue Service (IRS) as part of the bankruptcy claims process against Specialty Pharma. Specialty Pharma files its U.S. federal tax return as a member of the Company’s consolidated U.S. tax group. As such, the IRS claim was filed against Specialty Pharma in the bankruptcy proceedings due to IRS tax law requirements for joint and several liability of all members in a consolidated U.S. tax group. Both Specialty Pharma and the Company disagree with the merits of the IRS claim, and intend to defend their positions vigorously. DIP Financing – Related Party Relationship In connection with the bankruptcy filing, Specialty Pharma entered into a Debtor in Possession Credit and Security Agreement with Avadel US Holdings (“DIP Credit Agreement”) dated as of February 8, 2019, in an aggregate amount of up to $2,700, of which the funds are to be used by Specialty Pharma solely to fund operations through February 6, 2020. As of June 30, 2019, the Company had funded $407 under the DIP Credit Agreement. As the Company has assessed that it is unlikely that Specialty Pharma will pay back the loan to Avadel, the $407 has been recorded as part of the loss on deconsolidation of subsidiary within the unaudited condensed consolidated statements of loss. At June 30, 2019 the fair value of the remaining commitment under the DIP Credit Agreement is not material.

Revenue Recognition	6 Months Ended
Revenue Recognition	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The Company generates revenue primarily from the sale of pharmaceutical products to customers. From time to time the Company also generates revenue from licensing arrangements whereby the Company provides access to certain of its intellectual property. Product Sales and Services Effective January 1, 2018, the Company implemented ASC 606, “Revenue From Contracts With Customers”. The Company sells products primarily through wholesalers and considers these wholesalers to be its customers. Under ASC 606, revenue from product sales is recognized when the customer obtains control of the Company’s product and the Company’s performance obligations are met, which occurs typically upon receipt of delivery to the customer. As is customary in the pharmaceutical industry, the Company’s gross product sales are subject to a variety of price adjustments in arriving at reported net product sales. These adjustments include estimates for product returns, chargebacks, payment discounts, rebates, and other sales allowances and are estimated when the product is delivered based on analysis of historical data for the product or comparable products, as well as future expectations for such products. Reserves to reduce Gross Revenues to Net Revenues Revenues from product sales are recorded at the net selling price, which includes estimated reserves to reduce gross product sales to net product sales resulting from product returns, chargebacks, payment discounts, rebates, and other sales allowances that are offered within contracts between the Company and its customers and end users. These reserves are based on the amounts earned or to be claimed on the related sales and are classified as reductions of accounts receivable if the amount is payable to the customer, except in the case of the estimated reserve for future expired product returns, which are classified as a liability. The reserves are classified as a liability if the amount is payable to a party other than a customer. Where appropriate, these estimated reserves take into consideration relevant factors such as the Company’s historical experience, current contractual and statutory requirements, specific known market events and trends, industry data and forecasted customer buying and payment patterns. Overall, these reserves reflect the Company’s best estimates to reduce gross selling price to net selling price to which it expects to be entitled based on the terms of its contracts. The actual selling price ultimately received may differ from the Company’s estimates. If actual results in the future vary from the Company’s estimates, the Company adjusts these estimates, which would affect net product revenue and earnings in the period such variances become known. Product Returns Consistent with industry practice, the Company maintains a returns policy, that generally offers customers a right of return for product that has been purchased from the Company. The Company estimates the amount of product returns and records this estimate as a reduction of revenue in the period the related product revenue is recognized. The Company currently estimates product return liabilities based on analysis of historical data for the product or comparable products, as well as future expectations for such products and other judgments and analysis. Chargebacks, Discounts and Rebates Chargebacks, discounts and rebates represent the estimated obligations resulting from contractual commitments to sell products to its customers or end users at prices lower than the list prices charged to our wholesale customers. Customers charge the Company for the difference between the gross selling price they pay for the product and the ultimate contractual price agreed to between the Company and these end users. These reserves are established in the same period that the related revenue is recognized, resulting in a reduction of product revenue and accounts receivable. Chargebacks, discounts and rebates are estimated at the time of sale to the customer. Revenue from licensing arrangements The terms of the Company’s licensing agreements may contain multiple performance obligations, including certain R&D activities. The terms of these arrangements typically include payment to the Company of one or more of the following: non-refundable, up-front license fees; development, regulatory and commercial milestone payments. Each of these payments results in license revenues. License of Intellectual Property If the license to the Company’s intellectual property is determined to be distinct from the other performance obligations identified in the arrangement, the Company recognizes revenues from non-refundable, up-front fees allocated to the license when the license is transferred to the customer and the customer is able to use and benefit from the license. For licenses that are bundled with other promises, the Company utilizes judgment to assess the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time and, if over time, the appropriate method of measuring progress for purposes of recognizing revenue from non-refundable, up-front fees. The Company evaluates the measure of progress each reporting period and, if necessary, adjusts the measure of performance and related revenue recognition. Disaggregation of revenue The Company’s primary source of revenue is from the sale of pharmaceutical products, which are equally affected by the same economic factors as it relates to the nature, amount, timing, and uncertainty of revenue and cash flows. For further detail about the Company’s revenues by product, see Note 18: Company Operations by Product. Contract Balances The Company does not recognize revenue in advance of invoicing its customers and therefore has no related contract assets. A receivable is recognized in the period the Company sells its products and when the Company’s right to consideration is unconditional. There were no material deferred contract costs at June 30, 2019. Transaction Price Allocated to the Remaining Performance Obligation For product sales, the Company generally satisfies its performance obligations within the same period the product is delivered. Product sales recognized in 2019 from performance obligations satisfied (or partially satisfied) in previous periods were immaterial. For certain licenses of intellectual property, specifically those with performance obligations satisfied over time, the Company allocates a portion of the transaction price to that performance obligation and recognizes revenue using an appropriate measure of progress towards development of the product. The Company has elected certain of the practical expedients from the disclosure requirement for remaining performance obligations for specific situations in which an entity need not estimate variable consideration to recognize revenue. Accordingly, the Company applies the practical expedient in ASC 606 to its stand-alone contracts and does not disclose information about variable consideration from remaining performance obligations for which the Company recognizes revenue.

Fair Value Measurement

6 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurement

The Company is required to measure certain assets and liabilities at fair value, either upon initial recognition or for subsequent accounting or reporting. For example, we use fair value extensively when accounting for and reporting certain financial instruments, when measuring certain contingent consideration liabilities and in the initial recognition of net assets acquired in a business combination. Fair value is estimated by applying the hierarchy described below, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement.

ASC 820, “Fair Value Measurements and Disclosures,” defines fair value as a market-based measurement that should be determined based on the assumptions that marketplace participants would use in pricing an asset or liability. When estimating fair value, depending on the nature and complexity of the asset or liability, we may generally use one or each of the following techniques:


•	Income approach, which is based on the present value of a future stream of net cash flows.


•	Market approach, which is based on market prices and other information from market transactions involving identical or comparable assets or liabilities.

As a basis for considering the assumptions used in these techniques, the standard establishes a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value as follows:


•	Level 1 - Quoted prices for identical assets or liabilities in active markets.


•	Level 2 - Quoted prices for similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are directly or indirectly observable, or inputs that are derived principally from, or corroborated by, observable market data by correlation or other means.


•	Level 3 - Unobservable inputs that reflect estimates and assumptions.

The following table summarizes the financial instruments measured at fair value on a recurring basis classified in the fair value hierarchy (Level 1, 2 or 3) based on the inputs used for valuation in the accompanying unaudited condensed consolidated balance sheets:



	As of June 30, 2019						As of December 31, 2018
Fair Value Measurements:	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3

Marketable securities (see Note 6)
Equity securities	$	4,038	$	—	$	—	$	9,145	$	—	$	—
Money market funds	47,033		—		—		52,996		—		—
Corporate bonds	—		3,664		—		—		6,339		—
Government securities - U.S.	—		5,234		—		—		12,701		—
Other fixed-income securities	—		2,182		—		—		9,409		—
Total assets	$	51,071	$	11,080	$	—	$	62,141	$	28,449	$	—

Related party payable (see Note 10)	$	—	$	—	$	24,247	$	—	$	—	$	28,840
Total liabilities	$	—	$	—	$	24,247	$	—	$	—	$	28,840

A review of fair value hierarchy classifications is conducted on a quarterly basis. Changes in the observability of valuation inputs may result in a reclassification for certain financial assets or liabilities. During the periods ended June 30, 2019 and December 31, 2018, respectively, there were no transfers in and out of Level 1, 2, or 3. During the three month periods ended June 30, 2019 and 2018, respectively, we did not recognize any other-than-temporary impairment loss.

Some of the Company’s financial instruments, such as cash and cash equivalents, accounts receivable and accounts payable, are reflected in the balance sheet at carrying value, which approximates fair value due to their short-term nature.

Debt

We estimate the fair value of our $143,750 aggregate principal amount of 4.50% exchangeable senior notes due 2023 (the “2023 Notes”), a Level 2 input, based on interest rates that would be currently available to the Company for issuance of similar types of debt instruments with similar terms and remaining maturities or recent trading prices obtained from brokers. The estimated fair value of the 2023 Notes at June 30, 2019 is $60,914 compared to a book value of $118,625.

Additionally, the Company’s other debt is reflected in the balance sheet at carrying value. The fair value of these loans is impracticable to estimate as these represent non-interest bearing grants from the French government and are repayable only if the research project is technically or commercially successful.

See Note 11: Long-Term Debt for additional information regarding our debt obligations.

- 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

Marketable Securities

6 Months Ended

Jun. 30, 2019

Investments, Debt and Equity Securities [Abstract]

Marketable Securities

The Company has investments in available-for-sale marketable securities which are recorded at fair market value. The change in the fair value of available-for-sale equity investments is recognized in our unaudited condensed consolidated statements of loss and the change in the fair value of all other available-for-sale investments is recorded as other comprehensive income (loss) in shareholders’ (deficit) equity, net of income tax effects.

The following tables show the Company’s available-for-sale securities’ adjusted cost, gross unrealized gains, gross unrealized losses and fair value by significant investment category as of June 30, 2019 and December 31, 2018, respectively:



	June 30, 2019
Marketable Securities:	Adjusted Cost		Unrealized Gains		Unrealized Losses			Fair Value

Equity securities	$	4,166	$	—	$	(128	)	$	4,038
Money market funds	46,314		719		—			47,033
Corporate bonds	3,611		54		(1		)	3,664
Government securities - U.S.	5,122		114		(2		)	5,234
Other fixed-income securities	2,154		29		(1		)	2,182
Total	$	61,367	$	916	$	(132	)	$	62,151



	December 31, 2018
Marketable Securities:	Adjusted Cost		Unrealized Gains		Unrealized Losses			Fair Value

Equity securities	$	10,101	$	—	$	(956	)	$	9,145
Money market funds	52,733		316		(53		)	52,996
Corporate bonds	6,411		7		(79		)	6,339
Government securities - U.S.	12,714		66		(79		)	12,701
Other fixed-income securities	9,400		22		(13		)	9,409
Total	$	91,359	$	411	$	(1,180	)	$	90,590

We determine realized gains or losses on the sale of marketable securities on a specific identification method. We reflect these gains and losses as a component of investment income in the accompanying unaudited condensed consolidated statements of loss.

We recognized gross realized gains of $174 and $22 for the three months ended June 30, 2019, and 2018, respectively. These realized gains were offset by realized losses of $0 and $194 for the three months ended June 30, 2019, and 2018, respectively. We recognized gross realized gains of $268 and $235 for the six months ended June 30, 2019, and 2018, respectively. These realized gains were offset by realized losses of $147 and $328 for the six months ended June 30, 2019 and 2018, respectively. We reflect these gains and losses as a component of investment income in the accompanying condensed consolidated statements of income (loss).

The following table summarizes the estimated fair value of our investments in marketable debt securities, accounted for as available-for-sale securities and classified by the contractual maturity date of the securities as of June 30, 2019:



	Maturities
Marketable Debt Securities:	Less than 1 Year		1-5 Years		5-10 Years		Greater than 10 Years		Total

Corporate bonds	$	735	$	2,929	$	—	$	—	$	3,664
Government securities - U.S.	—		4,798		—		436		5,234
Other fixed-income securities	426		1,756		—		—		2,182
Total	$	1,161	$	9,483	$	—	$	436	$	11,080

The Company has classified our investment in available-for-sale marketable securities as current assets in the unaudited condensed consolidated balance sheets as the securities need to be available for use, if required, to fund current operations. There are no restrictions on the sale of any securities in our investment portfolio.

Inventories

6 Months Ended

Jun. 30, 2019

Inventory Disclosure [Abstract]

Inventories

The principal categories of inventories, net reserves of $1,143 and $4,757 at June 30, 2019 and December 31, 2018, respectively, are comprised of the following:



Inventory:	June 30, 2019		December 31, 2018

Finished goods	$	2,127	$	4,270
Raw materials	474		500
Total	$	2,601	$	4,770

Total net reserves decreased by $3,614 during the six months ended June 30, 2019 driven largely by the deconsolidation of Specialty Pharma.

Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

The Company’s amortizable and unamortizable intangible assets at June 30, 2019 and December 31, 2018 are as follows:



	June 30, 2019							December 31, 2018
Goodwill and Intangible Assets:	Gross Value		Accumulated Amortization			Net Carrying Amount		Gross Value		Accumulated Amortization			Impairment			Net Carrying Amount

Amortizable intangible assets:
Acquired developed technology - Noctiva	$	—	$	—		$	—	$	73,111	$	(7,024	)	$	(66,087	)	$	—
Acquired developed technology - Vazculep	12,061		(10,837		)	1,224		12,061		(10,432		)	—			1,629
Total amortizable intangible assets	$	12,061	$	(10,837	)	$	1,224	$	85,172	$	(17,456	)	$	(66,087	)	$	1,629

Unamortizable intangible assets:
Goodwill	$	18,491	$	—		$	18,491	$	18,491	$	—		$	—		$	18,491
Total unamortizable intangible assets	$	18,491	$	—		$	18,491	$	18,491	$	—		$	—		$	18,491

The Company recorded amortization expense related to amortizable intangible assets of $204 and $1,609 for the three months ended June 30, 2019 and 2018, respectively and $405 and $3,376 for the six months ended June 30, 2019 and 2018, respectively.

During the fourth quarter 2018, certain conditions came to light, largely the lack of a meaningful increase in Noctiva prescriptions despite the substantial investment of resources, which indicated that the carrying value of the asset, may not be fully recoverable. As such, the Company performed an impairment test based on a comparison of the pretax discounted cash flows expected to be generated by the asset, which is a Level 3 fair value estimate, to the recorded value of the asset and concluded that the associated cash flows did not support any of the carrying value of the intangible asset and the Company recorded a full impairment charge of $66,087 at December 31, 2018 related to the acquired developed technology associated with Noctiva. The February 6, 2019 Chapter 11 bankruptcy filing of Specialty Pharma, the subsidiary which markets, sells and distributes Noctiva, confirmed management’s conclusion on the impairment.

Amortizable intangible assets are amortized over their estimated useful lives, which generally range from three to fifteen years. Estimated amortization of intangible assets for the next five years is as follows:



Estimated Annual Amortization Expense:	Amount

2019	$	815
2020	814
2021	—
2022	—
2023	—

Leases

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Leases

In February 2016, the FASB issued ASU 2016-02, “Leases” which supersedes ASC 840 “Leases” and creates a new topic, ASC 842 “Leases.” This update requires lessees to recognize on their balance sheet a lease liability and a lease asset for all leases, including operating leases, with a term greater than 12 months. On January 1, 2019, the Company adopted the ASU using the modified retrospective transition approach and elected the transition option to recognize the adjustment in the period of adoption rather than in the earliest period presented. As January 1, 2019, adoption of the new guidance resulted in the initial recognition of operating lease right-of-use assets of $5,046 and operating lease liabilities of $5,131. At June 30, 2019, the balances of the operating lease right-of-use asset and total operating lease liability are $5,454 and $4,616, respectively, of which $999 of the operating lease liability is current.

The Company leases certain facilities for office and manufacturing purposes, comprising approximately 99% of the total lease population. All leased facilities are classified as operating leases with remaining lease terms between one and seven years. The Company determines if a contract is a lease at the inception of the arrangement. The Company reviews all options to extend, terminate, or purchase its right-of-use assets at the inception of the lease and will include these options in the lease term when they are reasonably certain of being exercised. For all of the Company’s leases, lease and non-lease components are accounted for as a single lease component, as all non-lease components are immaterial to break out separately.

The components of lease costs, which is included in selling, general and administrative expenses in the unaudited condensed consolidated statements of loss for the three and six months ended June 30 were as follows:



Lease cost:	Three months ended June 30, 2019		Six months ended June 30, 2019

Operating lease costs ⁽¹⁾	$	394	$	739
Sublease income ⁽²⁾	61		105
Total lease cost	$	333	$	634

⁽¹⁾Variable lease costs were immaterial for the three and six months ended June 30, 2019.

⁽²⁾ Represents sublease income received for the vacated office facility in Charlotte, North Carolina, which was acquired with the FSC acquisition in February 2016. The lease and sublease agreements terminate in December 2020. The Company also vacated a portion of the office facility in St. Louis, Missouri during May 2019 and started receiving sublease income starting in May 2019. The lease agreement ends in April 2025 and the sublease agreement ends in May 2020 with a one year renewal option.

During the three and six months ended June 30, 2019, the Company reduced its operating lease liabilities by $394 and $704 for cash paid. In addition, during the six months ended June 30, 2019, new operating leases commenced resulting in the recognition of operating lease right-of-use assets and liabilities of $1,000 and $0, respectively, as the entire lease payment was paid on March 31, 2019. There were no new leases during the three months ended June 30, 2019. As of June 30, 2019, the Company is aware of one additional embedded lease that has not yet commenced and will not commence until the time of FDA approval of the product (if approved). Once FDA approval is given and the start date is determined, annual production suite fees of approximately $3,000 to $4,000 would commence and at that time, and an operating lease right-of-use asset and corresponding operating lease liability will be recorded.

As of June 30, 2019, our operating leases have a weighted-average remaining lease term of 5.0 years and a weighted-average discount rate of 5.3%. Nearly all of Avadel’s lease contracts do not provide a readily determinable implicit rate. For these contracts, Avadel’s estimated incremental borrowing rate is based on information available at the inception of the lease.

Maturities of the Company’s operating lease liabilities were as follows:



Maturities:	Operating Leases

Remaining six months of 2019	$	603
2020	1,213
2021	1,003
2022	763
2023	692
Thereafter	958
Total lease payments	5,232
Less: interest	616
Present value of lease liabilities	$	4,616

Under the prior lease guidance, minimum rental commitments for non-cancelable leases as of December 31, 2018 were:



Lease Commitment:	Operating Leases

2019	$	1,191
2020	1,208
2021	1,008
2022	767
2023	695
Thereafter	967
Total minimum lease payments	$	5,836

Long-Term Related Party Payable

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Long-Term Related Party Payable

Long-term related party payable and related activity are reported at fair value and consist of the following at June 30, 2019 and December 31, 2018:



				Activity during the Six Months Ended June 30, 2019
							Changes in Fair Value of Related Party Payable
Long-Term Related Party Payable:	Balance, December 31, 2018			Payments to Related Parties			Operating Expense		Other Expense		Balance, June 30, 2019

Acquisition-related contingent consideration:
Earn-out payments - Éclat Pharmaceuticals (a)	$	25,615		$	(5,790	)	$	1,757	$	—	$	21,582
Financing-related:
Royalty agreement - Deerfield (b)	2,184			(621		)	—		236		1,799
Royalty agreement - Broadfin (c)	1,041			(296		)	—		121		866
Total related party payable	28,840			$	(6,707	)	$	1,757	$	357	24,247
Less: current portion	(9,439		)								(8,264		)
Total long-term related party payable	$	19,401									$	15,983

Long-term related party payable and related activity are reported at fair value and consist of the following at June 30, 2019 and March 31, 2019:



				Activity during the Three Months Ended June 30, 2019
							Changes in Fair Value of Related Party Payable
Long-Term Related Party Payable:	Balance, March 31, 2019			Payments to Related Parties			Operating Expense			Other Expense		Balance, June 30, 2019

Acquisition-related contingent consideration:
Earn-out payments - Éclat Pharmaceuticals (a)	$	24,569		$	(2,610	)	$	(377	)	$	—	$	21,582
Financing-related:
Royalty agreement - Deerfield (b)	2,048			(277		)	—			28		1,799
Royalty agreement - Broadfin (c)	976			(132		)	—			22		866
Total related party payable	27,593			$	(3,019	)	$	(377	)	$	50	24,247
Less: current portion	(9,391		)									(8,264		)
Total long-term related party payable	$	18,202										$	15,983

(a) In March 2012, the Company acquired all of the membership interests of Éclat from Breaking Stick Holdings, L.L.C. (“Breaking Stick”, formerly Éclat Holdings), an affiliate of Deerfield. Breaking Stick is majority owned by Deerfield, with a minority interest owned by the Company’s former CEO, and certain other current and former employees. As part of the consideration, the Company committed to provide quarterly earn-out payments equal to 20% of any gross profit generated by certain Éclat products. These payments will continue in perpetuity, to the extent gross profit of the related products also continue in perpetuity.

(b)

As part of a February 2013 debt financing transaction conducted with Deerfield, the Company received cash of $2,600 in exchange for entering into a royalty agreement whereby the Company shall pay quarterly a 1.75% royalty on the net sales of certain Éclat products until December 31, 2024. In connection with such debt financing transaction, the Company granted Deerfield a security interest in the product registration rights of the Eclat products.


(c)	As part of a December 2013 debt financing transaction conducted with Broadfin Healthcare Master Fund, a related party and current shareholder, the Company received cash of $2,200 in exchange for entering into a royalty agreement whereby the Company shall pay quarterly a 0.834% royalty on the net sales of certain Éclat products until December 31, 2024.

At June 30, 2019, the fair value of each related party payable listed in (a), (b) and (c) above was estimated using a discounted cash flow model based on estimated and projected annual net revenues or gross profit, as appropriate, of each of the specified Éclat products using an appropriate risk-adjusted discount rate of 15%. These fair value measurements are based on significant inputs not observable in the market and thus represent a level 3 measurement as defined in ASC 820. Subsequent changes in the fair value of the acquisition-related related party payables, resulting primarily from management’s revision of key assumptions, will be recorded in the unaudited condensed consolidated statements of loss in the line items entitled “Changes in fair value of related party contingent consideration” for items noted in (b) above and in “Other expense - changes in fair value of related party payable” for items (b) and (c) above. See Note 1: Summary of Significant Accounting Policies under the caption Acquisition-related Contingent Consideration and Financing-related Royalty Agreements in Part II, Item 8 of the Company’s 2018 Annual Report on Form 10-K for more information on key assumptions used to determine the fair value of these liabilities.

The Company has chosen to make a fair value election pursuant to ASC 825, “Financial Instruments” for its royalty agreements detailed in items (b) and (c) above. These financing-related liabilities are recorded at fair market value on the unaudited condensed consolidated balance sheets and the periodic change in fair market value is recorded as a component of “Other expense – change in fair value of related party payable” on the unaudited condensed consolidated statements of loss.

The following table summarizes changes to the related party payables, a recurring Level 3 measurement, for the six-month periods ended June 30, 2019 and 2018, respectively:



Related Party Payable Rollforward:	Balance

Balance, December 31, 2017	$	98,925
Payments of related party payable	(13,376		)
Fair value adjustments ⁽¹⁾	(10,928		)
Expiration of warrants	(2,167		)
Disposition of the pediatric assets	(20,337		)
Balance, June 30, 2018	$	52,117

Balance, December 31, 2018	$	28,840
Payments of related party payable	(6,707		)
Fair value adjustments ⁽¹⁾	2,114
Balance, June 30, 2019	$	24,247

⁽¹⁾Fair value adjustments are reported as changes in fair value of related party contingent consideration and other expense - changes in fair value of related party payable in the unaudited condensed consolidated statements of loss.

Long-Term Debt

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Long-Term Debt

Long-term debt is summarized as follows:



	June 30, 2019			December 31, 2018
Principal amount of 4.50% exchangeable senior notes due 2023	$	143,750		$	143,750
Less: debt discount and issuance costs, net	(25,125		)	(28,059		)
Net carrying amount of liability component	118,625			115,691
Other debt	111			149
Subtotal	118,736			115,840
Less: current maturities	(105		)	(106		)
Long-term debt	$	118,631		$	115,734

Equity component:
Equity component of exchangeable notes, net of issuance costs	$	(26,699	)	$	(26,699	)

Income Taxes

6 Months Ended

Jun. 30, 2019

Income Tax Disclosure [Abstract]

Income Taxes

The components of loss before income taxes are as follows:



	Three Months Ended June 30,						Six Months Ended June 30,
Loss Before Income Taxes:	2019			2018			2019			2018

Ireland	$	(12,089	)	$	(10,962	)	$	(22,323	)	$	(15,889	)
United States	9,800			7,019			6,357			(2,816		)
France	(4,535		)	163			(4,250		)	362
Total loss before income taxes	$	(6,824	)	$	(3,780	)	$	(20,216	)	$	(18,343	)

The items accounting for the difference between the income tax provision computed at the statutory rate and the Company’s effective tax rate are as follows:



	Three Months Ended June 30,						Six Months Ended June 30,
Income Tax Rate Reconciliation:	2019			2018			2019			2018

Statutory tax rate	12.5		%	12.5		%	12.5		%	12.5		%
International tax rates differential	10.6		%	(1.5		)%	6.9		%	6.8		%
Change in valuation allowance	(52.9		)%	(39.4		)%	(25.4		)%	(11.9		)%
Change in fair value of nondeductible contingent consideration	1.6		%	67.6		%	(1.5		)%	10.9		%
Nondeductible stock-based compensation	—		%	(4.7		)%	(0.2		)%	(1.8		)%
Unrecognized tax benefits	(2.5		)%	(7.6		)%	(1.4		)%	(2.8		)%
State and local income taxes, net of federal	(0.4		)%	1.0		%	(0.1		)%	0.3		%
Nondeductible interest expense	(3.7		)%	—		%	(2.0		)%	—		%
Other	8.7		%	(18.9		)%	4.4		%	0.5		%
Effective income tax rate	(26.1		)%	9.0		%	(6.8		)%	14.5		%

Income tax benefit - at statutory tax rate	$	(853	)	$	(473	)	$	(2,526	)	$	(2,293	)
International tax rates differential	(723		)	57			(1,391		)	(1,241		)
Change in valuation allowance	3,609			1,491			5,129			2,181
Change in fair value of nondeductible contingent consideration	(110		)	(2,556		)	303			(2,005		)
Nondeductible stock-based compensation	(2		)	176			49			336
Unrecognized tax benefits	168			288			292			508
State and local income taxes, net of federal	25			(38		)	27			(57		)
Nondeductible interest expense	253			—			410			—
Other	(586		)	713			(886		)	(98		)
Income tax provision (benefit) - at effective income tax rate	$	1,781		$	(342	)	$	1,407		$	(2,669	)

The income tax provision was $1,781 for the three months ended June 30, 2019 and a benefit of $342 for the three months ended June 30, 2018. The increase in the income tax provision for the three months ended June 30, 2019 is primarily the result of a decrease in the amount of nontaxable gain from the revaluation of contingent consideration and an increase in the amount of valuation allowances recorded on foreign income tax losses.

The income tax provision was $1,407 for the six months ended June 30, 2019 and a benefit of $2,669 for the six months ended June 30, 2018. The increase in the income tax provision for the six months ended June 30, 2019 is primarily the result of a decrease the amount of nontaxable gain from the revaluation of contingent consideration and an increase in the amount of valuation allowances recorded on foreign income tax losses.

The IRS commenced an examination of the Company's U.S. income tax returns for 2016 and 2017 during the second quarter 2019.

Other Assets and Liabilities

6 Months Ended

Jun. 30, 2019

Other Liabilities Disclosure [Abstract]

Other Assets and Liabilities

Various other assets and liabilities are summarized as follows:



Prepaid Expenses and Other Current Assets:	June 30, 2019		December 31, 2018

Valued-added tax recoverable	$	671	$	1,378
Prepaid and other expenses	2,594		2,145
Guarantee from Armistice (see Note 14)	551		534
Income tax receivable	997		921
Research and development tax credit receivable	270		283
Short-term deposit	—		3,350
Other	82		225
Total	$	5,165	$	8,836



Other Non-Current Assets:	June 30, 2019		December 31, 2018

Deferred tax assets, net	$	21,072	$	23,029
Long-term deposits	1,477		1,477
Guarantee from Armistice (see Note 14)	5,413		5,697
Right of use assets at contract manufacturing organizations	6,561		5,894
Other	50		49
Total	$	34,573	$	36,146



Accrued Expenses	June 30, 2019		December 31, 2018

Accrued compensation	$	1,946	$	3,971
Accrued social charges	789		1,009
Accrued restructuring (see Note 15)	1,441		879
Customer allowances	6,279		6,541
Accrued contract research organization charges	1,815		1,000
Accrued contract manufacturing organization costs	1,591		2,028
Accrued contract sales organization and marketing costs	—		3,469
Other	1,876		2,798
Total	$	15,737	$	21,695



Other Non-Current Liabilities:	June 30, 2019		December 31, 2018

Provision for retirement indemnity	$	—	$	1,024
Customer allowances	867		1,352
Unrecognized tax benefits	5,315		5,315
Guarantee to Deerfield (see Note 14)	5,432		5,717
Other	61		594
Total	$	11,675	$	14,002

Divestiture of the Pediatric Assets

6 Months Ended

Jun. 30, 2019

Discontinued Operations and Disposal Groups [Abstract]

Divestiture of the Pediatric Assets

On February 12, 2018, the Company, together with its subsidiaries Avadel Pharmaceuticals (USA), Inc., Avadel Pediatrics, Inc., FSC Therapeutics, LLC (“FSC Therapeutics”), and Avadel US Holdings, Inc. (“Holdings”), as the “Sellers,” entered into an asset purchase agreement (the “Purchase Agreement”) with Cerecor, Inc. (“Cerecor”). The transaction closed on February 16, 2018 wherein Cerecor purchased from the Sellers four pediatric commercial stage assets – Karbinal™ ER, Cefaclor, Flexichamber™ and AcipHex® Sprinkle™, together with certain associated business assets – which were held by FSC. The Company acquired FSC in February 2016 from Deerfield and certain of its affiliates. Pursuant to the Purchase Agreement, Cerecor assumed the Company’s remaining payment obligations to Deerfield under the Membership Interest Purchase Agreement, dated as of February 5, 2016, between Holdings, Flamel Technologies SA (the predecessor of the Company) and Deerfield and certain of its affiliates, which payment obligations consist of the following (collectively, the “Assumed Obligations”): (i) a quarterly payment of $263 beginning in July 2018 and ending in October 2020, amounting to an aggregate payment obligation of $2,625; (ii) a payment in January 2021 of $15,263; and (iii) a quarterly royalty payment of 15% on net sales of the FSC products through February 5, 2026 (“FSC Product Royalties”), in an aggregate amount of up to approximately $10,300. Cerecor also assumed certain contracts and other obligations related to the acquired assets, and in that connection Holdings agreed to pay Cerecor certain make-whole payments associated with obligations Cerecor is assuming related to a certain supply contract related to Karbinal™ ER.

In conjunction with the divestiture, the Company also entered into the following arrangements:

License and Development Agreement

Also, in connection with the closing under the Purchase Agreement, Flamel Ireland Limited, an Irish limited company operating under the trade name of Avadel Ireland (“Avadel Ireland”) and a wholly-owned subsidiary of the Company, and Cerecor entered into a license and development agreement (the “License and Development Agreement”) pursuant to which, among other things:


•	Avadel Ireland will provide Cerecor with four product formulations utilizing Avadel Ireland’s LiquiTime™ technology, and will complete pilot bioequivalence studies for such product formulations within 18 months;


•	Cerecor will reimburse Avadel Ireland for development costs of the four LiquiTime™ products in excess of $1,000 in the aggregate;


•	Upon transfer of the four product formulations, Cerecor will assume all remaining development costs and responsibilities for the product development, clinical studies, NDA applications and associated filing fees; and


•	Upon regulatory approval and commercial launch of any LiquiTime™ products, Cerecor will pay Avadel Ireland quarterly royalties based on a percentage of net sales of any such products in the mid-single digit range.

Deerfield Guarantee

In connection with the closing under the Purchase Agreement, the Company and Holdings provided their guarantee (the “Deerfield Guarantee”) in favor of Deerfield. Under the Deerfield Guarantee, the Company and Holdings guaranteed to Deerfield the payment by Cerecor of the Assumed Obligations under the Membership Interest Purchase Agreement between the Company and Deerfield dated February 5, 2016. The Assumed Obligations include (i) a quarterly payment of $263 beginning in July 2018 and ending in October 2020, amounting to an aggregate payment obligation of $2,625; (ii) a payment in January 2021 of $15,263; and (iii) a quarterly royalty payment of 15% on net sales of the FSC products through February 6, 2026 (“FSC Product Royalties”), in an aggregate amount of up to approximately $10,300. In addition, under the Deerfield Guarantee, the Company and Holdings guaranteed that Deerfield would receive certain minimum annual FSC Product Royalties through February 6, 2026 (the “Minimum Royalties”). Given the Company’s explicit guarantee to Deerfield, the Company recorded the guarantee in accordance with ASC 460. A valuation was performed, which was based largely on an analysis of the potential timing of each possible cash outflow described above and the likelihood of Cerecor’s default on such payments assuming an S&P credit rating of CCC+. The result of this valuation identified a guarantee liability of $6,643. This liability is being amortized proportionately based on undiscounted cash outflows through the remainder of the contract with Deerfield. At June 30, 2019, the carrying value of this liability was $5,985.

Armistice Guarantee

In connection with the closing under the Purchase Agreement, Armistice Capital Master Fund, Ltd., the then majority shareholder of Cerecor, guaranteed to Holdings the payment by Cerecor of the Assumed Obligations, including the Minimum Royalties. A valuation of the guarantee asset was performed in accordance with ASC 460 and a guarantee asset of $6,620 was recorded. This asset is being amortized proportionately based on undiscounted cash outflows through the remainder of the contract with Deerfield noted above. At June 30, 2019, the carrying value of this asset was $5,964.

The fair values of the Avadel guarantee to Deerfield and the guarantee received by Avadel from Armistice largely offset and when combined are not material.

Based on management’s review of ASU 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, the disposition of our pediatric assets and related liabilities did not qualify for discontinued operations reporting. Our results of operations for the period January 1, 2018 through February 16, 2018 include the results of FSC, prior to its February 16, 2018 disposition date.

The net impact of this transaction was not material to the unaudited condensed consolidated statements of loss.

Restructuring Costs

6 Months Ended

Jun. 30, 2019

Restructuring and Related Activities [Abstract]

Restructuring Costs

2019 French Restructuring

During the second quarter of 2019, the Company initiated a plan to substantially reduce all of its workforce at its Vénissieux, France site (“2019 French Restructuring”). This reduction is an effort to align the Group’s cost structure with our ongoing and future planned projects. The reduction in workforce is projected to be substantially complete by the end of calendar year 2019, and to result in employee severance, benefits and other costs of up to approximately $3,500, which are likely to be recognized through December 31, 2019. Restructuring charges associated with this plan of $1,939 were recognized during the three and six months ended June 30, 2019. Included in the 2019 French Restructuring charges of $1,939 were charges for employee severance, benefits and other costs of $2,414, a charge of $525 related to fixed asset impairment, as well as a benefit of $1,000 related to the reversal of the French retirement indemnity obligation.

The following table sets forth activities for the Company’s cost reduction plan obligations for the three and six months ended June 30, 2019:



2019 French Restructuring Obligation:	2019

Balance of restructuring accrual at January 1,	$	—
Charges for employee severance, benefits and other costs	2,414
Payments	(1,332		)
Foreign currency impact	20
Balance of restructuring accrual at June 30,	$	1,102

The 2019 French Restructuring liabilities of $1,078 and $24 are included in the unaudited condensed consolidated balance sheet in accrued expenses and accounts payable at June 30, 2019, respectively.

2019 Corporate Restructuring

During the first quarter of 2019, the Company announced a plan to reduce its Corporate workforce by more than 50% (“2019 Corporate Restructuring”). The reduction in workforce is primarily a result of the exit of Noctiva during the first quarter of 2019 (see Note 3: Subsidiary Bankruptcy and Deconsolidation), as well as an effort to better align the Company’s remaining cost structure at our U.S. and Ireland locations with our ongoing and future planned projects. The reduction in workforce is projected to be substantially complete by the end of calendar year 2019, and to result in employee severance, benefits and other costs of up to approximately $3,000, which are likely to be recognized through December 31, 2019. The restructuring benefit associated with this plan of $435 and restructuring charges of $963 were recognized during the three and six months ended June 30, 2019, respectively. Included in the 2019 Corporate Restructuring benefit of $435 for the three months ended June 30, 2019 were charges for employee severance, benefit and other costs of $541, as well as a benefit of $976 related to share based compensation forfeitures related to the employees affected by the global reduction in workforce. Included in the 2019 Corporate Restructuring charges of $963 for the six months ended June 30, 2019, were charges for employee severance, benefit and other costs of $2,359, as well as a benefit of $1,396 related to share based compensation forfeitures related to the employees affected by the global reduction in workforce.

The following table sets forth activities for the Company’s cost reduction plan obligations for the six months ended June 30, 2019:



2019 Corporate Restructuring Obligation:	2019

Balance of restructuring accrual at January 1,	$	—
Charges for employee severance, benefits and other costs	2,359
Payments	(2,016		)
Balance of restructuring accrual at June 30,	$	343

2019 Corporate Restructuring liabilities of $343 are included in the unaudited condensed consolidated balance sheet in accrued expenses at June 30, 2019.

2017 French Restructuring

During the first quarter of 2017, the Company announced a plan to reduce its workforce at the Venissieux, France site by approximately 50% (“2017 French Restructuring”). This reduction was an effort to align the Company’s cost structure with our ongoing and future planned projects. In July 2017, the Company completed negotiations with the works council for our French operations and received approval from the French Labor Commission (DIRECCTE) to implement the plan. The reduction was substantially complete at June 30, 2019. The 2017 French restructuring costs for the three months ended June 30, 2019 and 2018 were immaterial. The 2017 French Restructuring income of $168 and restructuring charges of $203 were recognized during the six months ended June 30, 2019 and 2018, respectively. The following table sets forth activities for the Company’s cost reduction plan obligations for the six months ended June 30, 2019 and 2018:



2017 French Restructuring Obligation:	2019			2018

Balance of restructuring accrual at January 1,	$	879		$	1,000
Charges for employee severance, benefits and other	(168		)	203
Payments	(647		)	(515		)
Foreign currency impact	(8		)	(55		)
Balance of restructuring accrual at June 30,	$	56		$	633

The 2017 French Restructuring accrual is included in the unaudited condensed consolidated balance sheet in accrued expenses and other non-current liabilities at June 30, 2019 and 2018.

Net Loss Per Share

6 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

Net Loss Per Share

Basic net loss per share is calculated by dividing net loss by the weighted average number of shares outstanding during each period. Diluted net (loss) income per share is calculated by dividing net (loss) income by the diluted number of shares outstanding during each period. Except where the result would be anti-dilutive to net loss, diluted net loss per share would be calculated assuming the impact of the conversion of the 2023 Notes, the exercise of outstanding equity compensation awards, ordinary shares expected to be issued under our employee stock purchase plan (“ESPP”) and the exercise of contingent consideration warrants, all which have been exercised or have expired during the first quarter of 2018.

We have a choice to settle the conversion obligation under the 2023 Notes in cash, shares or any combination of the two. We utilize the if-converted method to reflect the impact of the conversion of the 2023 Notes, unless the result is anti-dilutive. This method assumes the conversion of the 2023 Notes into shares of our ordinary shares and reflects the elimination of the interest expense related to the 2023 Notes.

The dilutive effect of the warrants, stock options, RSU’s and ordinary shares expected to be issued under or ESPP has been calculated using the treasury stock method.

A reconciliation of basic and diluted net loss per share, together with the related shares outstanding in thousands is as follows:



	Three Months Ended June 30,						Six Months Ended June 30,
Net Loss Per Share:	2019			2018			2019			2018

Net loss	$	(8,605	)	$	(3,438	)	$	(21,623	)	$	(15,674	)

Weighted average shares:
Basic shares	37,356			36,772			37,355			37,666
Effect of dilutive securities—employee and director equity awards outstanding and 2023 Notes	—			—			—			—
Diluted shares	37,356			36,772			37,355			37,666

Net loss per share - basic	$	(0.23	)	$	(0.09	)	$	(0.58	)	$	(0.42	)
Net loss per share - diluted	$	(0.23	)	$	(0.09	)	$	(0.58	)	$	(0.42	)

Potential common shares of 20,359 and 18,831 were excluded from the calculation of weighted average shares for the three months ended June 30, 2019 and 2018, respectively, because their effect was considered to be anti-dilutive. Potential common shares of 20,502 and 15,300 were excluded from the calculation of weighted average shares for the six months ended June 30, 2019 and 2018, respectively. For the three and six months ended June 30, 2019 and 2018, the effects of dilutive securities were entirely excluded from the calculation of net loss per share as a net loss was reported in this period.

Comprehensive Loss

6 Months Ended

Jun. 30, 2019

Stockholders' Equity Note [Abstract]

Comprehensive Loss

The following table shows the components of accumulated other comprehensive loss for the three and six months ended June 30, 2019 and 2018, respectively, net of tax effects:



	Three Months Ended June 30,						Six Months Ended June 30,
Accumulated Other Comprehensive Loss:	2019			2018			2019			2018

Foreign currency translation adjustment:
Beginning balance	$	(23,782	)	$	(22,953	)	$	(23,621	)	$	(23,202	)
Net other comprehensive (loss) income	62			(482		)	(99		)	(233		)
Balance at June 30,	$	(23,720	)	$	(23,435	)	$	(23,720	)	$	(23,435	)

Unrealized gain (loss) on marketable securities, net
Beginning balance	$	579		$	(302	)	$	205		$	(64	)
Net other comprehensive income (loss), net of ($23), ($11), ($41) and ($70) tax, respectively	293			78			667			(160		)
Balance at June 30,	$	872		$	(224	)	$	872		$	(224	)
Accumulated other comprehensive loss at June 30,	$	(22,848	)	$	(23,659	)	$	(22,848	)	$	(23,659	)

The effect on the Company’s unaudited condensed consolidated financial statements of amounts reclassified out of accumulated other comprehensive loss was immaterial for all periods presented.

Revenue by Product

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Revenue by Product

The Company has determined that it operates in one segment, the development and commercialization of pharmaceutical products, including controlled-release therapeutic products based on its proprietary polymer based technology. The Company’s Chief Operating Decision Maker is the CEO. The CEO reviews profit and loss information on a consolidated basis to assess performance and make overall operating decisions as well as resource allocations. All products are included in one segment because the Company’s products have similar economic and other characteristics, including the nature of the products and production processes, type of customers, distribution methods and regulatory environment.

The following table presents a summary of total revenues by these products:



	Three Months Ended June 30,					Six Months Ended June 30,
Revenues by Product:	2019			2018		2019		2018

Bloxiverz	$	2,358		$	5,544	$	4,926	$	13,035
Vazculep	9,410			11,377		18,883		24,338
Akovaz	5,946			11,875		9,738		22,092
Other	(160		)	320		444		2,812
Total product sales	17,554			29,116		33,991		62,277
License revenue	—			114		—		246
Total revenues	$	17,554		$	29,230	$	33,991	$	62,523

Commitments and Contingencies

6 Months Ended

Jun. 30, 2019

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Litigation

The Company is subject to potential liabilities generally incidental to our business arising out of present and future lawsuits and claims related to product liability, personal injury, contract, commercial, intellectual property, tax, employment, compliance and other matters that arise in the ordinary course of business. The Company accrues for potential liabilities when it is probable that future costs (including legal fees and expenses) will be incurred and such costs can be reasonably estimated. At June 30, 2019 and December 31, 2018, there were no contingent liabilities with respect to any litigation, arbitration or administrative or other proceeding that are reasonably likely to have a material adverse effect on the Company’s unaudited condensed consolidated financial position, results of operations, cash flows or liquidity.

Litigation Related to Noctiva

Note 3: Subsidiary Bankruptcy and Deconsolidation briefly describes the Chapter 11 bankruptcy case which our subsidiary Specialty Pharma commenced on February 6, 2019, and which on April 26, 2019 resulted in the bankruptcy court-approved sale of all of Specialty Pharma’s intangible assets and inventory to an unaffiliated third party. As a result of such sale, Specialty Pharma has completed its divestment of the assets of the Noctiva business. During the pendency of the bankruptcy case, all pending litigation against Specialty Pharma is automatically stayed and any new litigation against Specialty Pharma is precluded unless the bankruptcy court orders otherwise. Below are descriptions of a litigation to which Specialty Pharma is a party and a contract dispute involving Specialty Pharma, both of which matters are subject to the automatic stay during the bankruptcy case.

Ferring Litigation. Some of the patents covering the Noctiva^TM product (the “Noctiva Patents”) are the subject of litigation initiated by Ferring Pharmaceuticals Inc. and two of its foreign affiliates, who manufacture a competing product known as Nocdurna. Nocdurna was approved by the FDA in June 2018 and commercially launched in the U.S. in November 2018. In this litigation, Ferring seeks to invalidate and disputes the inventorship of the Noctiva Patents, seeks damages for various alleged breaches of contractual and common law duties, and seeks damages for alleged infringement by Noctiva^TM of Ferring’s “Nocdurna” trademark. Specialty Pharma and certain other parties including Serenity Pharmaceuticals, LLC (“Serenity”) (the licensor of the Noctiva Patents) have defended this litigation, and have made counterclaims against Ferring, including for infringement of the Noctiva Patents and a declaratory judgment of noninfringement with respect to Ferring’s “Nocdurna” trademark. The court dismissed Ferring’s inventorship claim and its claims for alleged breaches of contractual and common law duties, although these dismissals may be appealed by Ferring. On February 15, 2019, Specialty Pharma and its co-defendants moved to stay the litigation pending completion of the bankruptcy proceeding of Specialty Pharma. On May 15, 2019, that motion was denied due to an impending settlement of the litigation with respect to just Ferring and Specialty Pharma.

Contract Dispute. On January 21, 2019, Serenity gave notice to Specialty Pharma of an alleged breach of the parties’ Noctiva license agreement. Serenity alleges that Specialty Pharma breached its contractual obligation to devote commercially reasonable efforts to the commercialization of Noctiva and seeks unspecified damages. On January 27, 2019, Specialty Pharma notified Serenity of a claim for $1.7 million in damages as a result of Serenity’s breach of its contractual obligation to pay the costs of the Ferring Litigation. Serenity’s notice to Specialty Pharma invoked the dispute resolution provisions of the Noctiva license agreement, which culminate in arbitration, but neither party has yet initiated an arbitration proceeding or filed suit.

Material Commitments

Due to the Chapter 11 bankruptcy case of Specialty Pharma, the Company’s various commitments to purchase finished product from suppliers has changed from what was included in Part II, Item 8 of the Company’s 2018 Annual Report on Form 10-K. As of June 30, 2019, commitments for these arrangements, at maximum quantities and at contractual prices over the remaining life of the contract, and excluding any waived commitments, are as follows for the years ended December 31:



Purchase Commitments:	Balance

2019	$	7,194
2020	1,320
2021	1,320
2022	1,320
2023	220
Thereafter	—
Total	$	11,374

Other than commitments disclosed in Note 15: Contingent Liabilities and Commitments to the Company’s audited consolidated financial statements included in Part II, Item 8 of the Company’s 2018 Annual Report on Form 10-K, there were no other material commitments outside of the normal course of business. Material commitments in the normal course of business include long-term debt obligations which are disclosed in Note 10: Long-Term Debt, respectively, to the Company’s consolidated financial statements included in Part II, Item 8 of the Company’s 2018 Annual Report on Form 10-K and long-term contingent consideration payable as disclosed in Note 10: Long-Term Related Party Payable, to the Company’s unaudited condensed consolidated financial statements included in Part I, Item 1 of this report.

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Subsequent to June 30, 2019, the Company became aware of market conditions that could have a material impact on the estimated and projected annual net revenues and gross profit of certain hospital products that were used to estimate the total related party payable. The Company believes the effect of this change in estimate could reduce the total related party payable by approximately $3,000.

Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2019

Accounting Policies [Abstract]

Nature of Operations

Our current marketed products include:


•	Akovaz® (ephedrine sulfate injection, USP), an alpha- and beta-adrenergic agonist and a norepinephrine-releasing agent that is indicated for the treatment of clinically important hypotension occurring in the setting of anesthesia.


•	Bloxiverz® (neostigmine methylsulfate injection), a cholinesterase inhibitor, is indicated for the reversal of the effects of non-depolarizing neuromuscular blocking agents (NMBAs) after surgery.


•	Vazculep® (phenylephrine hydrochloride injection), an alpha-1 adrenergic receptor agonist indicated for the treatment of clinically important hypotension resulting primarily from vasodilation in the setting of anesthesia.

Each of our Akovaz, Bloxiverz and Vazculep products is used primarily in the hospital setting and was developed under our UMD program.

Basis of Presentation

Newly Issued Accounting Pronouncements

Newly Issued Accounting Standards

Recent Accounting Guidance Not Yet Adopted

In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework— Changes to the Disclosure Requirement for Fair Value Measurement” which amends certain disclosure requirements over Level 1, Level 2 and Level 3 fair value measurements. The amendments in ASU 2018-13 are effective for fiscal years beginning after December 15, 2019, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2018-13.

In January 2017, the FASB issued ASU 2017-04, “Intangibles - Goodwill and Other: Simplifying the Test for Goodwill Impairment.” This update eliminates step 2 from the goodwill impairment test, and requires the goodwill impairment test to be performed by comparing the fair value of a reporting unit with its carrying amount. An impairment charge should be recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. This guidance is effective for the Company in the first quarter of 2020. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company will assess the timing of adoption and impact of this guidance to future impairment considerations.

Revenue

Revenue. Revenue includes sales of pharmaceutical products, licensing fees, and, if any, milestone payments for research and development (“R&D”) achievements.

Product Sales and Services

License Revenue

For a complete discussion of the accounting for net product revenue and license revenues, see Note 4: Revenue Recognition.

Revenue Recognition

The Company generates revenue primarily from the sale of pharmaceutical products to customers. From time to time the Company also generates revenue from licensing arrangements whereby the Company provides access to certain of its intellectual property.

Product Sales and Services

Effective January 1, 2018, the Company implemented ASC 606, “Revenue From Contracts With Customers”. The Company sells products primarily through wholesalers and considers these wholesalers to be its customers. Under ASC 606, revenue from product sales is recognized when the customer obtains control of the Company’s product and the Company’s performance obligations are met, which occurs typically upon receipt of delivery to the customer. As is customary in the pharmaceutical industry, the Company’s gross product sales are subject to a variety of price adjustments in arriving at reported net product sales. These adjustments include estimates for product returns, chargebacks, payment discounts, rebates, and other sales allowances and are estimated when the product is delivered based on analysis of historical data for the product or comparable products, as well as future expectations for such products.

Reserves to reduce Gross Revenues to Net Revenues

Revenues from product sales are recorded at the net selling price, which includes estimated reserves to reduce gross product sales to net product sales resulting from product returns, chargebacks, payment discounts, rebates, and other sales allowances that are offered within contracts between the Company and its customers and end users. These reserves are based on the amounts earned or to be claimed on the related sales and are classified as reductions of accounts receivable if the amount is payable to the customer, except in the case of the estimated reserve for future expired product returns, which are classified as a liability. The reserves are classified as a liability if the amount is payable to a party other than a customer. Where appropriate, these estimated reserves take into consideration relevant factors such as the Company’s historical experience, current contractual and statutory requirements, specific known market events and trends, industry data and forecasted customer buying and payment patterns. Overall, these reserves reflect the Company’s best estimates to reduce gross selling price to net selling price to which it expects to be entitled based on the terms of its contracts. The actual selling price ultimately received may differ from the Company’s estimates. If actual results in the future vary from the Company’s estimates, the Company adjusts these estimates, which would affect net product revenue and earnings in the period such variances become known.

Product Returns

Consistent with industry practice, the Company maintains a returns policy, that generally offers customers a right of return for product that has been purchased from the Company. The Company estimates the amount of product returns and records this estimate as a reduction of revenue in the period the related product revenue is recognized. The Company currently estimates product return liabilities based on analysis of historical data for the product or comparable products, as well as future expectations for such products and other judgments and analysis.

Chargebacks, Discounts and Rebates

Chargebacks, discounts and rebates represent the estimated obligations resulting from contractual commitments to sell products to its customers or end users at prices lower than the list prices charged to our wholesale customers. Customers charge the Company for the difference between the gross selling price they pay for the product and the ultimate contractual price agreed to between the Company and these end users. These reserves are established in the same period that the related revenue is recognized, resulting in a reduction of product revenue and accounts receivable. Chargebacks, discounts and rebates are estimated at the time of sale to the customer.

Revenue from licensing arrangements

The terms of the Company’s licensing agreements may contain multiple performance obligations, including certain R&D activities. The terms of these arrangements typically include payment to the Company of one or more of the following: non-refundable, up-front license fees; development, regulatory and commercial milestone payments. Each of these payments results in license revenues.

License of Intellectual Property

If the license to the Company’s intellectual property is determined to be distinct from the other performance obligations identified in the arrangement, the Company recognizes revenues from non-refundable, up-front fees allocated to the license when the license is transferred to the customer and the customer is able to use and benefit from the license. For licenses that are bundled with other promises, the Company utilizes judgment to assess the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time and, if over time, the appropriate method of measuring progress for purposes of recognizing revenue from non-refundable, up-front fees. The Company evaluates the measure of progress each reporting period and, if necessary, adjusts the measure of performance and related revenue recognition.

Disaggregation of revenue

The Company’s primary source of revenue is from the sale of pharmaceutical products, which are equally affected by the same economic factors as it relates to the nature, amount, timing, and uncertainty of revenue and cash flows. For further detail about the Company’s revenues by product, see Note 18: Company Operations by Product.

Contract Balances

The Company does not recognize revenue in advance of invoicing its customers and therefore has no related contract assets.

A receivable is recognized in the period the Company sells its products and when the Company’s right to consideration is unconditional.

There were no material deferred contract costs at June 30, 2019.

Transaction Price Allocated to the Remaining Performance Obligation

For product sales, the Company generally satisfies its performance obligations within the same period the product is delivered. Product sales recognized in 2019 from performance obligations satisfied (or partially satisfied) in previous periods were immaterial.

For certain licenses of intellectual property, specifically those with performance obligations satisfied over time, the Company allocates a portion of the transaction price to that performance obligation and recognizes revenue using an appropriate measure of progress towards development of the product.

The Company has elected certain of the practical expedients from the disclosure requirement for remaining performance obligations for specific situations in which an entity need not estimate variable consideration to recognize revenue. Accordingly, the Company applies the practical expedient in ASC 606 to its stand-alone contracts and does not disclose information about variable consideration from remaining performance obligations for which the Company recognizes revenue.

Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis



	As of June 30, 2019						As of December 31, 2018
Fair Value Measurements:	Level 1		Level 2		Level 3		Level 1		Level 2		Level 3

Marketable securities (see Note 6)
Equity securities	$	4,038	$	—	$	—	$	9,145	$	—	$	—
Money market funds	47,033		—		—		52,996		—		—
Corporate bonds	—		3,664		—		—		6,339		—
Government securities - U.S.	—		5,234		—		—		12,701		—
Other fixed-income securities	—		2,182		—		—		9,409		—
Total assets	$	51,071	$	11,080	$	—	$	62,141	$	28,449	$	—

Related party payable (see Note 10)	$	—	$	—	$	24,247	$	—	$	—	$	28,840
Total liabilities	$	—	$	—	$	24,247	$	—	$	—	$	28,840

Marketable Securities (Tables)

6 Months Ended

Jun. 30, 2019

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-sale and Equity Securities



	June 30, 2019
Marketable Securities:	Adjusted Cost		Unrealized Gains		Unrealized Losses			Fair Value

Equity securities	$	4,166	$	—	$	(128	)	$	4,038
Money market funds	46,314		719		—			47,033
Corporate bonds	3,611		54		(1		)	3,664
Government securities - U.S.	5,122		114		(2		)	5,234
Other fixed-income securities	2,154		29		(1		)	2,182
Total	$	61,367	$	916	$	(132	)	$	62,151



	December 31, 2018
Marketable Securities:	Adjusted Cost		Unrealized Gains		Unrealized Losses			Fair Value

Equity securities	$	10,101	$	—	$	(956	)	$	9,145
Money market funds	52,733		316		(53		)	52,996
Corporate bonds	6,411		7		(79		)	6,339
Government securities - U.S.	12,714		66		(79		)	12,701
Other fixed-income securities	9,400		22		(13		)	9,409
Total	$	91,359	$	411	$	(1,180	)	$	90,590

Schedule of Contractual Maturity Dates



	Maturities
Marketable Debt Securities:	Less than 1 Year		1-5 Years		5-10 Years		Greater than 10 Years		Total

Corporate bonds	$	735	$	2,929	$	—	$	—	$	3,664
Government securities - U.S.	—		4,798		—		436		5,234
Other fixed-income securities	426		1,756		—		—		2,182
Total	$	1,161	$	9,483	$	—	$	436	$	11,080

Inventories (Tables)

6 Months Ended

Jun. 30, 2019

Inventory Disclosure [Abstract]

Schedule of Inventory

The principal categories of inventories, net reserves of $1,143 and $4,757 at June 30, 2019 and December 31, 2018, respectively, are comprised of the following:



Inventory:	June 30, 2019		December 31, 2018

Finished goods	$	2,127	$	4,270
Raw materials	474		500
Total	$	2,601	$	4,770

Goodwill and Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets

The Company’s amortizable and unamortizable intangible assets at June 30, 2019 and December 31, 2018 are as follows:



	June 30, 2019							December 31, 2018
Goodwill and Intangible Assets:	Gross Value		Accumulated Amortization			Net Carrying Amount		Gross Value		Accumulated Amortization			Impairment			Net Carrying Amount

Amortizable intangible assets:
Acquired developed technology - Noctiva	$	—	$	—		$	—	$	73,111	$	(7,024	)	$	(66,087	)	$	—
Acquired developed technology - Vazculep	12,061		(10,837		)	1,224		12,061		(10,432		)	—			1,629
Total amortizable intangible assets	$	12,061	$	(10,837	)	$	1,224	$	85,172	$	(17,456	)	$	(66,087	)	$	1,629

Unamortizable intangible assets:
Goodwill	$	18,491	$	—		$	18,491	$	18,491	$	—		$	—		$	18,491
Total unamortizable intangible assets	$	18,491	$	—		$	18,491	$	18,491	$	—		$	—		$	18,491

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Estimated amortization of intangible assets for the next five years is as follows:



Estimated Annual Amortization Expense:	Amount

2019	$	815
2020	814
2021	—
2022	—
2023	—

Leases (Tables)

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Components of lease costs



Lease cost:	Three months ended June 30, 2019		Six months ended June 30, 2019

Operating lease costs ⁽¹⁾	$	394	$	739
Sublease income ⁽²⁾	61		105
Total lease cost	$	333	$	634

⁽¹⁾Variable lease costs were immaterial for the three and six months ended June 30, 2019.

Maturities of operating lease liabilities

Maturities of the Company’s operating lease liabilities were as follows:



Maturities:	Operating Leases

Remaining six months of 2019	$	603
2020	1,213
2021	1,003
2022	763
2023	692
Thereafter	958
Total lease payments	5,232
Less: interest	616
Present value of lease liabilities	$	4,616

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

Under the prior lease guidance, minimum rental commitments for non-cancelable leases as of December 31, 2018 were:



Lease Commitment:	Operating Leases

2019	$	1,191
2020	1,208
2021	1,008
2022	767
2023	695
Thereafter	967
Total minimum lease payments	$	5,836

Long-Term Related Party Payable (Tables)

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Schedule of Related Party Transactions

Long-term related party payable and related activity are reported at fair value and consist of the following at June 30, 2019 and December 31, 2018:



				Activity during the Six Months Ended June 30, 2019
							Changes in Fair Value of Related Party Payable
Long-Term Related Party Payable:	Balance, December 31, 2018			Payments to Related Parties			Operating Expense		Other Expense		Balance, June 30, 2019

Acquisition-related contingent consideration:
Earn-out payments - Éclat Pharmaceuticals (a)	$	25,615		$	(5,790	)	$	1,757	$	—	$	21,582
Financing-related:
Royalty agreement - Deerfield (b)	2,184			(621		)	—		236		1,799
Royalty agreement - Broadfin (c)	1,041			(296		)	—		121		866
Total related party payable	28,840			$	(6,707	)	$	1,757	$	357	24,247
Less: current portion	(9,439		)								(8,264		)
Total long-term related party payable	$	19,401									$	15,983

Long-term related party payable and related activity are reported at fair value and consist of the following at June 30, 2019 and March 31, 2019:



				Activity during the Three Months Ended June 30, 2019
							Changes in Fair Value of Related Party Payable
Long-Term Related Party Payable:	Balance, March 31, 2019			Payments to Related Parties			Operating Expense			Other Expense		Balance, June 30, 2019

Acquisition-related contingent consideration:
Earn-out payments - Éclat Pharmaceuticals (a)	$	24,569		$	(2,610	)	$	(377	)	$	—	$	21,582
Financing-related:
Royalty agreement - Deerfield (b)	2,048			(277		)	—			28		1,799
Royalty agreement - Broadfin (c)	976			(132		)	—			22		866
Total related party payable	27,593			$	(3,019	)	$	(377	)	$	50	24,247
Less: current portion	(9,391		)									(8,264		)
Total long-term related party payable	$	18,202										$	15,983

(b)


(c)	As part of a December 2013 debt financing transaction conducted with Broadfin Healthcare Master Fund, a related party and current shareholder, the Company received cash of $2,200 in exchange for entering into a royalty agreement whereby the Company shall pay quarterly a 0.834% royalty on the net sales of certain Éclat products until December 31, 2024.

The following table summarizes changes to the related party payables, a recurring Level 3 measurement, for the six-month periods ended June 30, 2019 and 2018, respectively:



Related Party Payable Rollforward:	Balance

Balance, December 31, 2017	$	98,925
Payments of related party payable	(13,376		)
Fair value adjustments ⁽¹⁾	(10,928		)
Expiration of warrants	(2,167		)
Disposition of the pediatric assets	(20,337		)
Balance, June 30, 2018	$	52,117

Balance, December 31, 2018	$	28,840
Payments of related party payable	(6,707		)
Fair value adjustments ⁽¹⁾	2,114
Balance, June 30, 2019	$	24,247

Long-Term Debt (Tables)

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Schedule of Debt

Long-term debt is summarized as follows:



	June 30, 2019			December 31, 2018
Principal amount of 4.50% exchangeable senior notes due 2023	$	143,750		$	143,750
Less: debt discount and issuance costs, net	(25,125		)	(28,059		)
Net carrying amount of liability component	118,625			115,691
Other debt	111			149
Subtotal	118,736			115,840
Less: current maturities	(105		)	(106		)
Long-term debt	$	118,631		$	115,734

Equity component:
Equity component of exchangeable notes, net of issuance costs	$	(26,699	)	$	(26,699	)

- 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://fasb.org/us-gaap/role/ref/legacyRef
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-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://fasb.org/us-gaap/role/ref/legacyRef
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-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-Subparagraph (SX 210.4-08.(e),(f))
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Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
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-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
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-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Income Taxes (Tables)

6 Months Ended

Jun. 30, 2019

Income Tax Disclosure [Abstract]

Schedule of Components of Income Before Income Tax

The components of loss before income taxes are as follows:



	Three Months Ended June 30,						Six Months Ended June 30,
Loss Before Income Taxes:	2019			2018			2019			2018

Ireland	$	(12,089	)	$	(10,962	)	$	(22,323	)	$	(15,889	)
United States	9,800			7,019			6,357			(2,816		)
France	(4,535		)	163			(4,250		)	362
Total loss before income taxes	$	(6,824	)	$	(3,780	)	$	(20,216	)	$	(18,343	)

Schedule of Effective Income Tax Rate Reconciliation

The items accounting for the difference between the income tax provision computed at the statutory rate and the Company’s effective tax rate are as follows:



	Three Months Ended June 30,						Six Months Ended June 30,
Income Tax Rate Reconciliation:	2019			2018			2019			2018

Statutory tax rate	12.5		%	12.5		%	12.5		%	12.5		%
International tax rates differential	10.6		%	(1.5		)%	6.9		%	6.8		%
Change in valuation allowance	(52.9		)%	(39.4		)%	(25.4		)%	(11.9		)%
Change in fair value of nondeductible contingent consideration	1.6		%	67.6		%	(1.5		)%	10.9		%
Nondeductible stock-based compensation	—		%	(4.7		)%	(0.2		)%	(1.8		)%
Unrecognized tax benefits	(2.5		)%	(7.6		)%	(1.4		)%	(2.8		)%
State and local income taxes, net of federal	(0.4		)%	1.0		%	(0.1		)%	0.3		%
Nondeductible interest expense	(3.7		)%	—		%	(2.0		)%	—		%
Other	8.7		%	(18.9		)%	4.4		%	0.5		%
Effective income tax rate	(26.1		)%	9.0		%	(6.8		)%	14.5		%

Income tax benefit - at statutory tax rate	$	(853	)	$	(473	)	$	(2,526	)	$	(2,293	)
International tax rates differential	(723		)	57			(1,391		)	(1,241		)
Change in valuation allowance	3,609			1,491			5,129			2,181
Change in fair value of nondeductible contingent consideration	(110		)	(2,556		)	303			(2,005		)
Nondeductible stock-based compensation	(2		)	176			49			336
Unrecognized tax benefits	168			288			292			508
State and local income taxes, net of federal	25			(38		)	27			(57		)
Nondeductible interest expense	253			—			410			—
Other	(586		)	713			(886		)	(98		)
Income tax provision (benefit) - at effective income tax rate	$	1,781		$	(342	)	$	1,407		$	(2,669	)

Other Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2019

Other Liabilities Disclosure [Abstract]

Schedule of Prepaid Expenses and Other Current Assets

Various other assets and liabilities are summarized as follows:



Prepaid Expenses and Other Current Assets:	June 30, 2019		December 31, 2018

Valued-added tax recoverable	$	671	$	1,378
Prepaid and other expenses	2,594		2,145
Guarantee from Armistice (see Note 14)	551		534
Income tax receivable	997		921
Research and development tax credit receivable	270		283
Short-term deposit	—		3,350
Other	82		225
Total	$	5,165	$	8,836

Schedule of Other Assets, Noncurrent



Other Non-Current Assets:	June 30, 2019		December 31, 2018

Deferred tax assets, net	$	21,072	$	23,029
Long-term deposits	1,477		1,477
Guarantee from Armistice (see Note 14)	5,413		5,697
Right of use assets at contract manufacturing organizations	6,561		5,894
Other	50		49
Total	$	34,573	$	36,146

Schedule of Accrued Liabilities



Accrued Expenses	June 30, 2019		December 31, 2018

Accrued compensation	$	1,946	$	3,971
Accrued social charges	789		1,009
Accrued restructuring (see Note 15)	1,441		879
Customer allowances	6,279		6,541
Accrued contract research organization charges	1,815		1,000
Accrued contract manufacturing organization costs	1,591		2,028
Accrued contract sales organization and marketing costs	—		3,469
Other	1,876		2,798
Total	$	15,737	$	21,695

Schedule Of Long Term Liabilities



Other Non-Current Liabilities:	June 30, 2019		December 31, 2018

Provision for retirement indemnity	$	—	$	1,024
Customer allowances	867		1,352
Unrecognized tax benefits	5,315		5,315
Guarantee to Deerfield (see Note 14)	5,432		5,717
Other	61		594
Total	$	11,675	$	14,002

Restructuring Costs (Tables)

6 Months Ended

Jun. 30, 2019

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Related Costs

The following table sets forth activities for the Company’s cost reduction plan obligations for the three and six months ended June 30, 2019:



2019 French Restructuring Obligation:	2019

Balance of restructuring accrual at January 1,	$	—
Charges for employee severance, benefits and other costs	2,414
Payments	(1,332		)
Foreign currency impact	20
Balance of restructuring accrual at June 30,	$	1,102

The following table sets forth activities for the Company’s cost reduction plan obligations for the six months ended June 30, 2019 and 2018:



2017 French Restructuring Obligation:	2019			2018

Balance of restructuring accrual at January 1,	$	879		$	1,000
Charges for employee severance, benefits and other	(168		)	203
Payments	(647		)	(515		)
Foreign currency impact	(8		)	(55		)
Balance of restructuring accrual at June 30,	$	56		$	633

The following table sets forth activities for the Company’s cost reduction plan obligations for the six months ended June 30, 2019:



2019 Corporate Restructuring Obligation:	2019

Balance of restructuring accrual at January 1,	$	—
Charges for employee severance, benefits and other costs	2,359
Payments	(2,016		)
Balance of restructuring accrual at June 30,	$	343

Net Loss Per Share (Tables)

6 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

Schedule of Earnings Per Share Reconciliation

A reconciliation of basic and diluted net loss per share, together with the related shares outstanding in thousands is as follows:



	Three Months Ended June 30,						Six Months Ended June 30,
Net Loss Per Share:	2019			2018			2019			2018

Net loss	$	(8,605	)	$	(3,438	)	$	(21,623	)	$	(15,674	)

Weighted average shares:
Basic shares	37,356			36,772			37,355			37,666
Effect of dilutive securities—employee and director equity awards outstanding and 2023 Notes	—			—			—			—
Diluted shares	37,356			36,772			37,355			37,666

Net loss per share - basic	$	(0.23	)	$	(0.09	)	$	(0.58	)	$	(0.42	)
Net loss per share - diluted	$	(0.23	)	$	(0.09	)	$	(0.58	)	$	(0.42	)

Comprehensive Income (Loss) (Tables)

6 Months Ended

Jun. 30, 2019

Stockholders' Equity Note [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table shows the components of accumulated other comprehensive loss for the three and six months ended June 30, 2019 and 2018, respectively, net of tax effects:



	Three Months Ended June 30,						Six Months Ended June 30,
Accumulated Other Comprehensive Loss:	2019			2018			2019			2018

Foreign currency translation adjustment:
Beginning balance	$	(23,782	)	$	(22,953	)	$	(23,621	)	$	(23,202	)
Net other comprehensive (loss) income	62			(482		)	(99		)	(233		)
Balance at June 30,	$	(23,720	)	$	(23,435	)	$	(23,720	)	$	(23,435	)

Unrealized gain (loss) on marketable securities, net
Beginning balance	$	579		$	(302	)	$	205		$	(64	)
Net other comprehensive income (loss), net of ($23), ($11), ($41) and ($70) tax, respectively	293			78			667			(160		)
Balance at June 30,	$	872		$	(224	)	$	872		$	(224	)
Accumulated other comprehensive loss at June 30,	$	(22,848	)	$	(23,659	)	$	(22,848	)	$	(23,659	)

Revenue by Product (Tables)

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, Revenue by Product

The following table presents a summary of total revenues by these products:



	Three Months Ended June 30,					Six Months Ended June 30,
Revenues by Product:	2019			2018		2019		2018

Bloxiverz	$	2,358		$	5,544	$	4,926	$	13,035
Vazculep	9,410			11,377		18,883		24,338
Akovaz	5,946			11,875		9,738		22,092
Other	(160		)	320		444		2,812
Total product sales	17,554			29,116		33,991		62,277
License revenue	—			114		—		246
Total revenues	$	17,554		$	29,230	$	33,991	$	62,523

Commitments and Contingencies - (Tables)

6 Months Ended

Jun. 30, 2019

Commitments and Contingencies Disclosure [Abstract]

Contractual Obligation, Fiscal Year Maturity Schedule



Purchase Commitments:	Balance

2019	$	7,194
2020	1,320
2021	1,320
2022	1,320
2023	220
Thereafter	—
Total	$	11,374

Subsidiary Bankruptcy and Deconsolidation (Details) - USD ($)		3 Months Ended		6 Months Ended
	Apr. 26, 2019	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Jul. 02, 2019	Feb. 08, 2019
Business Acquisition, Contingent Consideration [Line Items]
Gain (loss) on deconsolidation of subsidiary		$ (167,000)	$ 0	$ (2,840,000)	$ 0
DIP Credit Agreement \| Debtor in Possession Credit and Security Facility
Business Acquisition, Contingent Consideration [Line Items]
Gain (loss) on deconsolidation of subsidiary		(407,000)
Payments for debtor in possession financing		407,000
Speciality Pharama
Business Acquisition, Contingent Consideration [Line Items]
Aggregate cash proceeds of intangible assets and remaining inventory	$ 250,000
Speciality Pharama \| Internal Revenue Service (IRS) \| Subsequent Event
Business Acquisition, Contingent Consideration [Line Items]
Bankruptcy claims, amount of filed claims likely to be denied						$ 50,695,000
Speciality Pharama \| DIP Credit Agreement \| Debtor in Possession Credit and Security Facility
Business Acquisition, Contingent Consideration [Line Items]
DIP financing, amount arranged							$ 2,700,000
Specialty Pharma
Business Acquisition, Contingent Consideration [Line Items]
Equity method investments, fair value		$ 0		$ 0

Revenue Recognition - Narrative (Details)	Jun. 30, 2019 USD ($)
Revenue from Contract with Customer [Abstract]
Deferred contract costs	$ 0

Fair Value Measurement Fair Value Measurement - Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 62,151	$ 90,590
Book value of long-term debt	118,736	115,840
Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Book value of long-term debt	$ 118,625	$ 115,691
4.50% Exchangeable Senior Notes Due 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, interest rate, stated percentage	4.50%	4.50%
4.50% Exchangeable Senior Notes Due 2023 \| Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	$ 143,750	$ 143,750
Debt instrument, interest rate, stated percentage	4.50%
Long-term debt, fair value	$ 60,914
Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	4,038	9,145
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	47,033	52,996
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	3,664	6,339
Government securities - U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	5,234	12,701
Other fixed-income securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	2,182	9,409
Fair Value Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	51,071	62,141
Fair Value Measurements, Recurring \| Level 1 \| Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	4,038	9,145
Fair Value Measurements, Recurring \| Level 1 \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	47,033	52,996
Fair Value Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	11,080	28,449
Fair Value Measurements, Recurring \| Level 2 \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	3,664	6,339
Fair Value Measurements, Recurring \| Level 2 \| Government securities - U.S.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	5,234	12,701
Fair Value Measurements, Recurring \| Level 2 \| Other fixed-income securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	2,182	9,409
Fair Value Measurements, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Related party payable	24,247	28,840
Total liabilities	$ 24,247	$ 28,840

Marketable Securities - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Investments, Debt and Equity Securities [Abstract]
Marketable securities, realized gain	$ 174	$ 22	$ 268	$ 235
Marketable securities, realized loss	$ 0	$ 194	$ 147	$ 328

Marketable Securities - Summary of Marketable Securities (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Adjusted Cost	$ 61,367	$ 91,359
Unrealized Gains	916	411
Unrealized Losses	(132)	(1,180)
Fair Value	62,151	90,590
Equity securities
Debt Securities, Trading, and Equity Securities, FV-NI [Abstract]
Adjusted Cost	4,166	10,101
Unrealized Gains	0	0
Unrealized Losses	(128)	(956)
Fair Value	4,038	9,145
Money market funds
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Adjusted Cost	46,314	52,733
Unrealized Gains	719	316
Unrealized Losses	0	(53)
Fair Value	47,033	52,996
Corporate bonds
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Adjusted Cost	3,611	6,411
Unrealized Gains	54	7
Unrealized Losses	(1)	(79)
Fair Value	3,664	6,339
Government securities - U.S.
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Adjusted Cost	5,122	12,714
Unrealized Gains	114	66
Unrealized Losses	(2)	(79)
Fair Value	5,234	12,701
Other fixed-income securities
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Adjusted Cost	2,154	9,400
Unrealized Gains	29	22
Unrealized Losses	(1)	(13)
Fair Value	$ 2,182	$ 9,409

Marketable Securities Marketable Securities - Schedule of Maturities (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Fair Value	$ 62,151	$ 90,590
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Less than 1 Year	735
1-5 Years	2,929
5-10 Years	0
Greater than 10 Years	0
Fair Value	3,664	6,339
Government securities - U.S.
Debt Securities, Available-for-sale [Line Items]
Less than 1 Year	0
1-5 Years	4,798
5-10 Years	0
Greater than 10 Years	436
Fair Value	5,234	12,701
Other fixed-income securities
Debt Securities, Available-for-sale [Line Items]
Less than 1 Year	426
1-5 Years	1,756
5-10 Years	0
Greater than 10 Years	0
Fair Value	2,182	$ 9,409
Debt Securities, Excluding Money Market Funds, Available For Sale
Debt Securities, Available-for-sale [Line Items]
Less than 1 Year	1,161
1-5 Years	9,483
5-10 Years	0
Greater than 10 Years	436
Fair Value	$ 11,080

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Inventory reserves	$ 1,143	$ 4,757
Increase in inventory reserves	3,614
Inventory:
Finished goods	2,127	4,270
Raw materials	474	500
Total	$ 2,601	$ 4,770

Goodwill and Intangible Assets - Gross Value and Net Carrying Amount (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Jun. 30, 2019
Amortizable intangible assets:
Gross Value	$ 85,172	$ 12,061
Accumulated Amortization	(17,456)	(10,837)
Impairment	(66,087)
Net Carrying Amount	1,629	1,224
Unamortizable intangible assets:
Gross Value	18,491	18,491
Accumulated Amortization	0	0
Net Carrying Amount	18,491	18,491
Developed technology \| Noctiva
Amortizable intangible assets:
Gross Value	73,111	0
Accumulated Amortization	(7,024)	0
Impairment	(66,087)
Net Carrying Amount	0	0
Developed technology \| Vazculep
Amortizable intangible assets:
Gross Value	12,061	12,061
Accumulated Amortization	(10,432)	(10,837)
Impairment	0
Net Carrying Amount	$ 1,629	$ 1,224

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible asset amortization	$ 204	$ 1,609	$ 405	$ 3,376
Finite-Lived Intangible Assets [Line Items]
Fixed asset impairment					$ 66,087
Noctiva \| Developed technology
Finite-Lived Intangible Assets [Line Items]
Fixed asset impairment					$ 66,087

Goodwill and Intangible Assets - Estimated Future Amortization (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019 USD ($)
Finite-Lived Intangible Assets [Line Items]
Estimated useful life (in years)	5 years
Estimated Annual Amortization Expense:
2019	$ 815
2020	814
2021	0
2022	0
2023	$ 0
Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life (in years)	3 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life (in years)	15 years

Leases - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
Leases - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2019	Jan. 01, 2019
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets	$ 5,454	$ 5,454
Operating lease liabilities	4,616	4,616
Current portion of operating lease liability	999	999
Operating lease payments	$ 394	$ 704
Operating lease, weighted average remaining lease term (in years)	4 years 11 months 27 days	4 years 11 months 27 days
Operating lease, weighted average discount rate, percent	5.30%	5.30%
Minimum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, lease not yet commenced, operating lease expense	$ 3,000	$ 3,000
Operating lease, term of contract	1 year	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, lease not yet commenced, operating lease expense	$ 4,000	$ 4,000
Operating lease, term of contract	7 years	7 years
Operating Leases Commenced
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets	$ 1,000	$ 1,000
Operating lease liabilities	$ 0	$ 0
Accounting Standards Update 2016-02
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets			$ 5,046
Operating lease liabilities			$ 5,131

Leases - Components of lease costs (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Leases [Abstract]
Operating lease costs	$ 394	$ 739
Sublease income	61	105
Total lease cost	$ 333	$ 634

Leases - Maturities of operating lease liabilities (Details) $ in Thousands	Jun. 30, 2019 USD ($)
Leases [Abstract]
Remaining six months of 2019	$ 603
2020	1,213
2021	1,003
2022	763
2023	692
Thereafter	958
Total lease payments	5,232
Less: interest	616
Operating lease liabilities	$ 4,616

Leases - Schedule of Future Minimum Rental Payments for Operating Leases (Details) $ in Thousands	Dec. 31, 2018 USD ($)
Leases [Abstract]
2019	$ 1,191
2020	1,208
2021	1,008
2022	767
2023	695
Thereafter	967
Total minimum lease payments	$ 5,836

Long-Term Related Party Payable - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended
	Dec. 31, 2013	Feb. 28, 2013	Mar. 31, 2012	Jun. 30, 2019
Minimum
Line of Credit Facility [Line Items]
Discounted cash flow risk adjusted discount rate				15.00%
Broadfin Debt Financing
Line of Credit Facility [Line Items]
Cash consideration received on royalty agreement	$ 2,200
Percentage of royalty payable on net sales	0.834%
Affiliated Entity \| Deerfield FSC LLC
Line of Credit Facility [Line Items]
Cash consideration received on royalty agreement		$ 2,600
Percentage of royalty payable on net sales		1.75%
Eclat Pharmaceuticals
Line of Credit Facility [Line Items]
Percentage of earn-out payments			20.00%

Long-Term Related Party Payable - Activity (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Mar. 31, 2019	Dec. 31, 2018
Acquisition-related contingent consideration:
Related party payable, beginning balance	$ 27,593		$ 28,840	$ 98,925
Payments to Related Parties	(3,019)		(6,707)	(13,376)
Operating Expense	(377)	$ (12,889)	1,757	(9,921)
Other Expense	50		357
Related party payable, ending balance	24,247	$ 52,117	24,247	$ 52,117
Less: Current portion	(8,264)		(8,264)		$ (9,391)	$ (9,439)
Long-term related party payable	15,983		15,983		$ 18,202	$ 19,401
Acquisition-related contingent consideration: \| Earn-out payments
Acquisition-related contingent consideration:
Related party payable, beginning balance	24,569		25,615
Payments to Related Parties	(2,610)		(5,790)
Operating Expense	(377)		1,757
Other Expense	0		0
Related party payable, ending balance	21,582		21,582
Financing-related: \| Royalty agreement - Deerfield
Acquisition-related contingent consideration:
Related party payable, beginning balance	2,048		2,184
Payments to Related Parties	(277)		(621)
Operating Expense	0		0
Other Expense	28		236
Related party payable, ending balance	1,799		1,799
Financing-related: \| Royalty agreement - Broadfin
Acquisition-related contingent consideration:
Related party payable, beginning balance	976		1,041
Payments to Related Parties	(132)		(296)
Operating Expense	0		0
Other Expense	22		121
Related party payable, ending balance	$ 866		$ 866

Long-Term Related Party Payable Long-Term Related Party Payable - Payable Balance (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019	Jun. 30, 2018
Related Party Payable Rollforward:
Related party payable, beginning balance	$ 27,593	$ 28,840	$ 98,925
Payment of related party payable	(3,019)	(6,707)	(13,376)
Fair value adjustments		2,114	(10,928)
Expiration of warrants			(2,167)
Disposition of the pediatric assets			(20,337)
Related party payable, ending balance	$ 24,247	$ 24,247	$ 52,117

Long-Term Debt Schedule of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Net carrying amount of liability component	$ 118,736	$ 115,840
Other debt	61	594
Less: current maturities	(105)	(106)
Long-term debt, less current portion	118,631	115,734
Senior Notes
Debt Instrument [Line Items]
Less: debt discount and issuance costs, net	(25,125)	(28,059)
Net carrying amount of liability component	118,625	115,691
Equity component of exchangeable notes, net of issuance costs	(26,699)	(26,699)
Loans Payable
Debt Instrument [Line Items]
Other debt	$ 111	$ 149
4.50% Exchangeable Senior Notes Due 2023
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	4.50%	4.50%
4.50% Exchangeable Senior Notes Due 2023 \| Senior Notes
Debt Instrument [Line Items]
Long-term debt	$ 143,750	$ 143,750
Debt instrument, interest rate, stated percentage	4.50%

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income tax provision (benefit)	$ 1,781	$ (342)	$ 1,407	$ (2,669)

Income Taxes - Income (Loss) Before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Taxes [Line Items]
Total income before income taxes	$ (6,824)	$ (3,780)	$ (20,216)	$ (18,343)
Ireland
Income Taxes [Line Items]
Total income before income taxes	(12,089)	(10,962)	(22,323)	(15,889)
United States
Income Taxes [Line Items]
Total income before income taxes	9,800	7,019	6,357	(2,816)
France
Income Taxes [Line Items]
Total income before income taxes	$ (4,535)	$ 163	$ (4,250)	$ 362

Income Taxes - Reconciliation of Tax Rate (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Statutory tax rate	12.50%	12.50%	12.50%	12.50%
International tax rates differential	10.60%	(1.50%)	6.90%	6.80%
Change in valuation allowance	(52.90%)	(39.40%)	(25.40%)	(11.90%)
Change in fair value of nondeductible contingent consideration	1.60%	67.60%	(1.50%)	10.90%
Nondeductible stock-based compensation	0.00%	(4.70%)	(0.20%)	(1.80%)
Unrecognized tax benefits	(2.50%)	(7.60%)	(1.40%)	(2.80%)
State and local income taxes, net of federal	(0.40%)	1.00%	(0.10%)	0.30%
Nondeductible interest expense	(3.70%)	0.00%	(2.00%)	0.00%
Other	8.70%	(18.90%)	4.40%	0.50%
Effective income tax rate	(26.10%)	9.00%	(6.80%)	14.50%
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Income tax benefit - at statutory tax rate	$ (853)	$ (473)	$ (2,526)	$ (2,293)
International tax rates differential	(723)	57	(1,391)	(1,241)
Change in valuation allowance	3,609	1,491	5,129	2,181
Change in fair value of nondeductible contingent consideration	(110)	(2,556)	303	(2,005)
Nondeductible stock-based compensation	(2)	176	49	336
Unrecognized tax benefits	168	288	292	508
State and local income taxes, net of federal	25	(38)	27	(57)
Nondeductible interest expense	253	0	410	0
Other	(586)	713	(886)	(98)
Income tax provision (benefit) - at effective income tax rate	$ 1,781	$ (342)	$ 1,407	$ (2,669)

Other Assets and Liabilities - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Prepaid Expenses and Other Current Assets:
Valued-added tax recoverable	$ 671	$ 1,378
Prepaid and other expenses	2,594	2,145
Guarantee from Armistice	551	534
Income tax receivable	997	921
Research and development tax credit receivable	270	283
Short-term deposit	0	3,350
Other	82	225
Total	$ 5,165	$ 8,836

Other Assets and Liabilities - Other Non-Current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Other Non-Current Assets:
Deferred tax assets, net	$ 21,072	$ 23,029
Long-term deposits	1,477	1,477
Guarantee from Armistice	5,413	5,697
Right of use assets at contract manufacturing organizations	6,561	5,894
Other	50	49
Total	$ 34,573	$ 36,146

Other Assets and Liabilities - Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Accrued Expenses
Accrued compensation	$ 1,946	$ 3,971
Accrued social charges	789	1,009
Accrued restructuring (see Note 15)	1,441	879
Customer allowances	6,279	6,541
Accrued contract research organization charges	1,815	1,000
Accrued contract manufacturing organization costs	1,591	2,028
Accrued contract sales organization and marketing costs	0	3,469
Other	1,876	2,798
Total	$ 15,737	$ 21,695

Other Assets and Liabilities - Other Non-Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Other Non-Current Liabilities:
Provision for retirement indemnity	$ 0	$ 1,024
Customer allowances	867	1,352
Unrecognized tax benefits	5,315	5,315
Guarantee to Deerfield	5,432	5,717
Other	61	594
Total	$ 11,675	$ 14,002

Divestiture of the Pediatric Assets - Narrative (Details) - USD ($) $ in Thousands		1 Months Ended
	Feb. 12, 2018	Jan. 31, 2021	Jun. 30, 2019	Dec. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Guaranty liabilities			$ 5,432	$ 5,717
2016 MIPA \| Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Debt instrument, periodic payment, interest	$ 263
Noncash or part noncash acquisition, debt assumed	2,625
Research and development reimbursement, in excess of	1,000
Guaranty liabilities	6,643		5,985
Guaranty assets	$ 6,620		$ 5,964
FSC \| 2016 MIPA \| Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Percentage of royalty payable on net sales	15.00%
Royalty payable on net sales, maximum	$ 10,300
Scenario, Forecast \| 2016 MIPA \| Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Repayments of assumed debt		$ 15,263

Restructuring Costs - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jun. 30, 2017
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 1,506	$ 50	$ 2,734	$ 203
Fixed asset impairment						$ 66,087
2019 French Restructuring Obligation
Restructuring Cost and Reserve [Line Items]
Restructuring costs			1,939
Charges for employee severance, benefits and other costs			2,414
Fixed asset impairment			525
Benefit related to the reversal of retirement indemnity obligation	1,000		1,000
Restructuring reserve	1,102		1,102			0
2019 French Restructuring Obligation \| Scenario, Forecast
Restructuring Cost and Reserve [Line Items]
Severance costs					$ 3,500
2019 French Restructuring Obligation \| Accrued Liabilities
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	1,078		1,078			24
2019 Corporate Restructuring Obligations
Restructuring Cost and Reserve [Line Items]
Restructuring costs	435		963
Charges for employee severance, benefits and other costs	541		2,359
Share-based compensation forfeitures related to the employees affected by the global reduction in workforce	976		1,396
Restructuring reserve	343		343			0
2019 Corporate Restructuring Obligations \| Scenario, Forecast
Restructuring Cost and Reserve [Line Items]
Severance costs					$ 3,000
Lyon France Workforce Reduction
Restructuring Cost and Reserve [Line Items]
Restructuring costs			168	203
Charges for employee severance, benefits and other costs			(168)	203
Restructuring reserve	$ 56	$ 633	$ 56	$ 633		$ 879	$ 1,000
Employee Severance \| Corporate Workforce Reduction
Restructuring Cost and Reserve [Line Items]
Expected number of positions eliminated (as a percent)	50.00%		50.00%
Employee Severance \| Lyon France Workforce Reduction
Restructuring Cost and Reserve [Line Items]
Expected number of positions eliminated (as a percent)								50.00%

Restructuring Costs - Severance Obligation (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019	Jun. 30, 2018
2019 French Restructuring Obligation
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance		$ 0
Charges for employee severance, benefits and other		2,414
Payments		(1,332)
Foreign currency impact		20
Restructuring reserve, ending balance	$ 1,102	1,102
2019 Corporate Restructuring Obligations
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance		0
Charges for employee severance, benefits and other	541	2,359
Payments		(2,016)
Restructuring reserve, ending balance	343	343
Lyon France Workforce Reduction
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance		879	$ 1,000
Charges for employee severance, benefits and other		(168)	203
Payments		(647)	(515)
Foreign currency impact		(8)	(55)
Restructuring reserve, ending balance	$ 56	$ 56	$ 633

Net Loss Per Share - Reconciliation of Basic and Diluted Calculation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Earnings Per Share [Abstract]
Net loss	$ (8,605)	$ (13,018)	$ (3,438)	$ (12,236)	$ (21,623)	$ (15,674)
Weighted average shares:
Basic shares (in shares)	37,356		36,772		37,355	37,666
Effect of dilutive securities—options and warrants outstanding (in shares)	0		0		0	0
Diluted shares (in shares)	37,356		36,772		37,355	37,666
Net income (loss) per share - basic (in dollars per share)	$ (0.23)		$ (0.09)		$ (0.58)	$ (0.42)
Net income (loss) per share - diluted (in dollars per share)	$ (0.23)		$ (0.09)		$ (0.58)	$ (0.42)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

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+ Details

- Definition

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

+ References + Details

Net Loss Per Share - Narrative (Details) - shares	3 Months Ended		6 Months Ended
Net Loss Per Share - Narrative (Details) - shares	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	20,359	18,831	20,502	15,300

Comprehensive Income (Loss) - Components (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Accumulated Other Comprehensive Loss:
Beginning balance	$ (9,582)	$ 86,639	$ 2,780	$ 85,580
Net other comprehensive (loss) income	(8,250)	(3,842)	(21,055)	(16,067)
Ending balance	(17,777)	78,546	(17,777)	78,546
Foreign currency translation adjustment:
Accumulated Other Comprehensive Loss:
Beginning balance	(23,782)	(22,953)	(23,621)	(23,202)
Net other comprehensive (loss) income	62	(482)	(99)	(233)
Ending balance	(23,720)	(23,435)	(23,720)	(23,435)
Unrealized gain (loss) on marketable securities, net
Accumulated Other Comprehensive Loss:
Beginning balance	579	(302)	205	(64)
Net other comprehensive (loss) income	293	78	667	(160)
Ending balance	872	(224)	872	(224)
Accumulated Other Comprehensive Loss:
Accumulated Other Comprehensive Loss:
Beginning balance	(23,203)	(23,670)	(23,416)	(23,266)
Ending balance	$ (22,848)	$ (23,659)	$ (22,848)	$ (23,659)

Comprehensive Loss - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Stockholders' Equity Note [Abstract]
Other comprehensive income (loss), tax	$ (23)	$ (11)	$ (41)	$ (70)

Revenue by Product - Summary of Revenue (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019 USD ($)	Jun. 30, 2018 USD ($)	Jun. 30, 2019 USD ($) segment	Jun. 30, 2018 USD ($)
Segment Reporting [Abstract]
Number of operating segments (in segments) \| segment			1
Segment Reporting Information [Line Items]
Total revenues	$ 17,554	$ 29,230	$ 33,991	$ 62,523
Bloxiverz
Segment Reporting Information [Line Items]
Total revenues	2,358	5,544	4,926	13,035
Vazculep
Segment Reporting Information [Line Items]
Total revenues	9,410	11,377	18,883	24,338
Akovaz
Segment Reporting Information [Line Items]
Total revenues	5,946	11,875	9,738	22,092
Other
Segment Reporting Information [Line Items]
Total revenues	(160)	320	444	2,812
Product sales
Segment Reporting Information [Line Items]
Total revenues	17,554	29,116	33,991	62,277
License revenue
Segment Reporting Information [Line Items]
Total revenues	$ 0	$ 114	$ 0	$ 246

Commitments and Contingencies - Narrative (Details) $ in Millions	Jan. 27, 2019 USD ($)
Specialty Pharma
Loss Contingencies [Line Items]
Loss contingency, damages sought, value	$ 1.7

Commitments and Contingencies - Purchase Commitments (Details) - Inventories $ in Thousands	Jun. 30, 2019 USD ($)
Long-term Purchase Commitment [Line Items]
2019	$ 7,194
2020	1,320
2021	1,320
2022	1,320
2023	220
Thereafter	0
Total	$ 11,374

Subsequent Events - Narrative (Details) $ in Thousands	3 Months Ended
Subsequent Events - Narrative (Details) $ in Thousands	Sep. 30, 2019 USD ($)
Scenario, Forecast
Subsequent Event [Line Items]
Increase (decrease) in related party payable	$ (3,000)