Liquidity and Management's Plans	6 Months Ended
Jun. 30, 2018
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Liquidity and Management's Plans	3. Liquidity and management’s plans: At June 30, 2018, the Company had cash of approximately $55.7 million. The Company used $11.7 million of cash in operations during the six months ended June 30, 2018 and had stockholders’ equity of $40.7 million, versus stockholders’ equity of $8.9 million at December 31, 2017. The Company expects that it has sufficient cash to manage the business as currently planned into the second quarter of 2020 which would provide sufficient capital necessary to support the continued commercialization of BELBUCA^® and BUNAVAIL^®. On May 17, 2018, the Company executed agreements relating to the Company’s registered direct offering, issuance and sale of an aggregate of 5,000 shares of the Company’s newly designated Series B Non-Voting Convertible Preferred Stock. On May 21, 2018, the Company closed the offering, which yielded net proceeds of $47.9 million to the Company. The Company’s cash on hand estimation assumes the availability of the foregoing capital sources and further assumes that the Company does not otherwise face unexpected events, costs or contingencies, any of which could affect the Company’s cash requirements from time to time. Available resources may be consumed more rapidly than currently anticipated, potentially resulting in the need for additional funding. Additional funding, capital or loans (including, without limitation, milestone or other payments from commercialization agreements) may be unavailable on favorable terms, if at all, which could leave the Company without adequate capital resources.

3. Liquidity and management’s plans:

At June 30, 2018, the Company had cash of approximately $55.7 million. The Company used $11.7 million of cash in operations during the six months ended June 30, 2018 and had stockholders’ equity of $40.7 million, versus stockholders’ equity of $8.9 million at December 31, 2017. The Company expects that it has sufficient cash to manage the business as currently planned into the second quarter of 2020 which would provide sufficient capital necessary to support the continued commercialization of BELBUCA^® and BUNAVAIL^®.

On May 17, 2018, the Company executed agreements relating to the Company’s registered direct offering, issuance and sale of an aggregate of 5,000 shares of the Company’s newly designated Series B Non-Voting Convertible Preferred Stock. On May 21, 2018, the Company closed the offering, which yielded net proceeds of $47.9 million to the Company.

The Company’s cash on hand estimation assumes the availability of the foregoing capital sources and further assumes that the Company does not otherwise face unexpected events, costs or contingencies, any of which could affect the Company’s cash requirements from time to time. Available resources may be consumed more rapidly than currently anticipated, potentially resulting in the need for additional funding. Additional funding, capital or loans (including, without limitation, milestone or other payments from commercialization agreements) may be unavailable on favorable terms, if at all, which could leave the Company without adequate capital resources.