<SEC-DOCUMENT>0001171843-18-001855.txt : 20180312
<SEC-HEADER>0001171843-18-001855.hdr.sgml : 20180312
<ACCEPTANCE-DATETIME>20180312145131
ACCESSION NUMBER:		0001171843-18-001855
CONFORMED SUBMISSION TYPE:	10-K
PUBLIC DOCUMENT COUNT:		77
CONFORMED PERIOD OF REPORT:	20171231
FILED AS OF DATE:		20180312
DATE AS OF CHANGE:		20180312

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BIOCRYST PHARMACEUTICALS INC
		CENTRAL INDEX KEY:			0000882796
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		IRS NUMBER:				621413174
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		10-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-23186
		FILM NUMBER:		18683093

	BUSINESS ADDRESS:	
		STREET 1:		4505 EMPEROR BOULEVARD
		STREET 2:		SUITE 200
		CITY:			DURHAM
		STATE:			NC
		ZIP:			27703
		BUSINESS PHONE:		919-859-1302

	MAIL ADDRESS:	
		STREET 1:		4505 EMPEROR BOULEVARD
		STREET 2:		SUITE 200
		CITY:			DURHAM
		STATE:			NC
		ZIP:			27703
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-K
<SEQUENCE>1
<FILENAME>f10k_022718p.htm
<DESCRIPTION>FORM 10-K
<TEXT>
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<p style="margin: 0"></p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<!-- Field: Rule-Page --><div align="LEFT" style="margin-top: 1pt; margin-bottom: 1pt"><div style="font-size: 1pt; border-top: black 1pt solid; width: 100%">&nbsp;</div></div><!-- Field: /Rule-Page -->

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>&nbsp;</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>UNITED STATES</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>Washington,&nbsp;D.C. 20549</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">________________________</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>Form 10-K</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">________________________</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; font-size: 10pt; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 4%; font-size: 10pt"><font style="font-size: 10pt">&#9746;</font></td>
    <td style="width: 96%; font-size: 10pt"><font style="font-size: 10pt"><b>ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</b></font></td></tr>
</table>
<p style="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 12pt"><b>&nbsp;</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 12pt"><b>For the fiscal year ended December&nbsp;31, 2017</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 12pt">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 12pt"><b>OR</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 12pt">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; font-size: 10pt; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 4%; font-size: 10pt"><font style="font-size: 10pt">&#9744;</font></td>
    <td style="width: 96%; font-size: 10pt"><font style="font-size: 10pt"><b>TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.</b></font></td></tr>
</table>
<p style="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 12pt"><b>&nbsp;</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 12pt"><b>For the transition period from&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 12pt">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>Commission File Number 000-23186</b> &nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;________________________</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>BIOCRYST PHARMACEUTICALS, INC.</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>(Exact name of registrant as specified in its charter)</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">________________________</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; font-size: 10pt; border-collapse: collapse">
<tr>
    <td style="vertical-align: top; text-align: center; font-size: 10pt; width: 50%"><font style="font-size: 10pt"><b>DELAWARE</b></font></td>
    <td style="vertical-align: bottom; font-size: 10pt; width: 2%">&nbsp;</td>
    <td style="vertical-align: top; text-align: center; font-size: 10pt; width: 48%"><font style="font-size: 10pt"><b>62-1413174</b></font></td></tr>
<tr>
    <td style="vertical-align: top">
        <p style="font-size: 10pt; text-align: center; margin: 0pt 3.2pt 0pt 0"><b>(State of other jurisdiction of</b></p>
        <p style="font-size: 10pt; text-align: center; margin: 0pt 3.2pt 0pt 0"><b>incorporation or organization)</b></p></td>
    <td style="vertical-align: bottom; font-size: 10pt">&nbsp;</td>
    <td style="vertical-align: top">
        <p style="font-size: 10pt; text-align: center; margin: 0pt 3.2pt 0pt 0"><b>(I.R.S. employer</b></p>
        <p style="font-size: 10pt; text-align: center; margin: 0pt 3.2pt 0pt 0"><b>identification no.)</b></p></td></tr>
</table>
<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>&nbsp;</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>4505 Emperor Blvd., Suite&nbsp;200, Durham, North Carolina 27703</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>(Address of principal executive offices)</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>(919)&nbsp;859-1302</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>(Registrant&#8217;s telephone number, including area code)</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>Securities registered pursuant to Section&nbsp;12(b) of the Act:</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: bottom">
    <td style="text-align: center; width: 48%"><font style="font-size: 10pt"><b><u>Title of Each Class</u></b></font></td>
    <td style="width: 2%">&nbsp;</td>
    <td style="text-align: center; width: 50%"><font style="font-size: 10pt"><b><u>Name of Each Exchange on Which Registered</u></b></font></td></tr>
<tr>
    <td style="vertical-align: top; text-align: center"><font style="font-size: 10pt"><b>Common Stock, $.01&nbsp;Par Value</b></font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top; text-align: center"><font style="font-size: 10pt"><b>The NASDAQ Global Select Market</b></font></td></tr>
</table>
<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>Securities registered pursuant to Section&nbsp;12(g) of the Act:</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>Title of class</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>None</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">________________________</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">Indicate by a check mark if the registrant is a well-known seasoned issuer, as defined
in Rule&nbsp;405 of the Securities Act.&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;&#9744; &nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;&#9746;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">Indicate by a check mark if the registrant is not required to file reports pursuant to
Section&nbsp;13 or Section&nbsp;15(d) of the Act.&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;&#9744; &nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;&#9746;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: justify; margin: 0pt 0">Indicate by a check mark whether the registrant (1)&nbsp;has filed
all reports required to be filed by Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12&nbsp;months
(or for such shorter period that the registrant was required to file such reports), and (2)&nbsp;has been subject to such filing
requirements for the past 90&nbsp;days.&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;&#9746; &nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;&#9744;</p>

<p style="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">Indicate by a check mark whether the registrant submitted electronically and posted on
its corporate Website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule&nbsp;405 of Regulation&nbsp;S-T
(Section&nbsp;232.405 of this chapter) during the preceding 12&nbsp;months (or for such shorter period that the registrant was
required to submit and post such files).&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;&#9746; &nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;&#9744;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0">Indicate by check mark if disclosure of delinquent filers pursuant to Item&nbsp;405 of
Regulation&nbsp;S-K (Section&nbsp;229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant&#8217;s
knowledge, in definitive proxy or information statements incorporated by reference in Part&nbsp;III of this Form&nbsp;10-K or any
amendment to this Form&nbsp;10-K.&nbsp;&nbsp;&#9746;</p>

<p style="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: justify; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-align: justify; margin: 0pt 0">Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of &#8220;large accelerated
filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting company&#8221; and &#8220;emerging growth company&#8221;
in Rule&nbsp;12b-2 of the Exchange Act. (Check one):</p>



<p style="font-size: 10pt; text-align: justify; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: bottom">
    <td nowrap><font style="font-size: 10pt">Large&nbsp;accelerated&nbsp;filer</font></td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 45%"><font style="font-size: 10pt">&#9744;</font></td>
    <td style="width: 2%">&nbsp;</td>
    <td style="width: 24%"><font style="font-size: 10pt">Accelerated&nbsp;filer</font></td>
    <td style="width: 2%">&nbsp;</td>
    <td style="width: 2%"><font style="font-size: 10pt">&#9746;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td><font style="font-size: 10pt">Non-accelerated filer</font></td>
    <td>&nbsp;</td>
    <td nowrap><font style="font-size: 10pt">&#9744;&nbsp;&nbsp;(Do not check if a smaller reporting company)</font></td>
    <td>&nbsp;</td>
    <td nowrap><font style="font-size: 10pt">Smaller&nbsp;reporting&nbsp;company</font></td>
    <td>&nbsp;</td>
    <td><font style="font-size: 10pt">&#9744;</font></td></tr>
<tr style="vertical-align: bottom">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>Emerging&nbsp;growth&nbsp;company</td>
    <td>&nbsp;</td>
    <td>&#9744;</td></tr>
</table>
<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0">If an emerging growth company, indicate by check mark if the registrant has elected not
to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to
Section 13(a) of the Exchange Act. &#9744;</p>



<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">Indicate by a check mark whether the registrant is a shell company (as defined in Exchange
Act Rule 12b-2).&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;&#9744; &nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp; &#9746;.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">The Registrant estimates that the aggregate market value of the Common Stock on June&nbsp;30,
2017 (based upon the closing price shown on the NASDAQ Global Select Market on June&nbsp;30, 2017)&nbsp;held by non-affiliates
was $440,626,219.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0">The number of shares of Common Stock, par value $.01, of the Registrant outstanding as
of January&nbsp;31, 2018 was 98,606,110 shares.</p>



<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>DOCUMENTS INCORPORATED BY REFERENCE</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0">Portions of the Registrant&#8217;s definitive Proxy Statement to be filed in connection
with the solicitation of proxies for its 2018 Annual Meeting of Stockholders are incorporated by reference into Items&nbsp;10,
11, 12, 13 and 14 under Part&nbsp;III hereof or, in the event the Registrant does not prepare and file such Proxy Statement, such
information shall be filed as an amendment to this Form 10-K.</p>

<p style="font-size: 10pt; margin: 0pt 0"></p>



<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"></p>

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<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b><u>TABLE OF CONTENTS</u></b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 97%; text-align: center"><font style="font-size: 10pt"><b>PART&nbsp;I</b></font></td>
    <td style="width: 3%">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top"><a href="#a_001"><font style="font-size: 10pt"><u>ITEM&nbsp;1. BUSINESS</u></font></a></td>
    <td style="vertical-align: bottom; text-align: right"><a href="#a_001"><font style="font-size: 10pt"><u>4</u></font></a></td></tr>
<tr>
    <td style="vertical-align: top"><a href="#a_002"><font style="font-size: 10pt"><u>ITEM&nbsp;1A. RISK FACTORS</u></font></a></td>
    <td style="vertical-align: bottom; text-align: right"><a href="#a_002"><font style="font-size: 10pt"><u>20</u></font></a></td></tr>
<tr>
    <td style="vertical-align: top"><a href="#a_003"><font style="font-size: 10pt"><u>ITEM&nbsp;1B. UNRESOLVED STAFF COMMENTS</u></font></a></td>
    <td style="vertical-align: bottom; text-align: right"><a href="#a_003"><font style="font-size: 10pt"><u>40</u></font></a></td></tr>
<tr>
    <td style="vertical-align: top"><a href="#a_004"><font style="font-size: 10pt"><u>ITEM&nbsp;2. PROPERTIES</u></font></a></td>
    <td style="vertical-align: bottom; text-align: right"><a href="#a_004"><font style="font-size: 10pt"><u>40</u></font></a></td></tr>
<tr>
    <td style="vertical-align: top"><a href="#a_005"><font style="font-size: 10pt"><u>ITEM&nbsp;3. LEGAL PROCEEDINGS</u></font></a></td>
    <td style="vertical-align: bottom; text-align: right"><a href="#a_005"><font style="font-size: 10pt"><u>40</u></font></a></td></tr>
<tr>
    <td style="vertical-align: top"><a href="#a_006"><font style="font-size: 10pt"><u>ITEM&nbsp;4. MINE SAFETY DISCLOSURES</u></font></a></td>
    <td style="vertical-align: bottom; text-align: right"><a href="#a_006"><font style="font-size: 10pt"><u>40</u></font></a></td></tr>
<tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="text-align: center"><font style="font-size: 10pt"><b>PART&nbsp;II</b></font></td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top"><a href="#a_007"><font style="font-size: 10pt"><u>ITEM&nbsp;5. MARKET FOR REGISTRANT&#8217;S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES</u></font></a></td>
    <td style="vertical-align: bottom; text-align: right"><a href="#a_007"><font style="font-size: 10pt"><u>41</u></font></a></td></tr>
<tr>
    <td style="vertical-align: top"><a href="#a_008"><font style="font-size: 10pt"><u>ITEM&nbsp;6. SELECTED FINANCIAL DATA</u></font></a></td>
    <td style="vertical-align: bottom; text-align: right"><a href="#a_008"><font style="font-size: 10pt"><u>42</u></font></a></td></tr>
<tr>
    <td style="vertical-align: top"><a href="#a_009"><font style="font-size: 10pt"><u>ITEM&nbsp;7. MANAGEMENT&#8217;S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</u></font></a></td>
    <td style="vertical-align: bottom; text-align: right"><a href="#a_009"><font style="font-size: 10pt"><u>42</u></font></a></td></tr>
<tr>
    <td style="vertical-align: top"><a href="#a_010"><font style="font-size: 10pt"><u>ITEM&nbsp;7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK</u></font></a></td>
    <td style="vertical-align: bottom; text-align: right"><a href="#a_010"><font style="font-size: 10pt"><u>55</u></font></a></td></tr>
<tr>
    <td style="vertical-align: top"><a href="#a_011"><font style="font-size: 10pt"><u>ITEM&nbsp;8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA</u></font></a></td>
    <td style="vertical-align: bottom; text-align: right"><a href="#a_011"><font style="font-size: 10pt"><u>57</u></font></a></td></tr>
<tr>
    <td style="vertical-align: top"><a href="#a_017"><font style="font-size: 10pt"><u>ITEM&nbsp;9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE</u></font></a></td>
    <td style="vertical-align: bottom; text-align: right"><a href="#a_017"><font style="font-size: 10pt"><u>84</u></font></a></td></tr>
<tr>
    <td style="vertical-align: top"><a href="#a_018"><font style="font-size: 10pt"><u>ITEM&nbsp;9A. CONTROLS AND PROCEDURES</u></font></a></td>
    <td style="vertical-align: bottom; text-align: right"><a href="#a_018"><font style="font-size: 10pt"><u>84</u></font></a></td></tr>
<tr>
    <td style="vertical-align: top"><a href="#a_019"><font style="font-size: 10pt"><u>ITEM&nbsp;9B. OTHER INFORMATION</u></font></a></td>
    <td style="vertical-align: bottom; text-align: right"><a href="#a_019"><font style="font-size: 10pt"><u>85</u></font></a></td></tr>
<tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="text-align: center"><font style="font-size: 10pt"><b>PART&nbsp;III</b></font></td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top"><a href="#a_020"><font style="font-size: 10pt"><u>ITEM&nbsp;10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE</u></font></a></td>
    <td style="vertical-align: bottom; text-align: right"><a href="#a_020"><font style="font-size: 10pt"><u>85</u></font></a></td></tr>
<tr>
    <td style="vertical-align: top"><a href="#a_021"><font style="font-size: 10pt"><u>ITEM&nbsp;11. EXECUTIVE COMPENSATION</u></font></a></td>
    <td style="vertical-align: bottom; text-align: right"><a href="#a_021"><font style="font-size: 10pt"><u>85</u></font></a></td></tr>
<tr>
    <td style="vertical-align: top"><a href="#a_022"><font style="font-size: 10pt"><u>ITEM&nbsp;12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS</u></font></a></td>
    <td style="vertical-align: bottom; text-align: right"><a href="#a_022"><font style="font-size: 10pt"><u>85</u></font></a></td></tr>
<tr>
    <td style="vertical-align: top"><a href="#a_023"><font style="font-size: 10pt"><u>ITEM&nbsp;13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE</u></font></a></td>
    <td style="vertical-align: bottom; text-align: right"><a href="#a_023"><font style="font-size: 10pt"><u>85</u></font></a></td></tr>
<tr>
    <td style="vertical-align: top"><a href="#a_024"><font style="font-size: 10pt"><u>ITEM&nbsp;14. PRINCIPAL ACCOUNTING FEES AND SERVICES</u></font></a></td>
    <td style="vertical-align: bottom; text-align: right"><a href="#a_024"><font style="font-size: 10pt"><u>85</u></font></a></td></tr>
<tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="text-align: center"><font style="font-size: 10pt"><b>PART&nbsp;IV</b></font></td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top"><a href="#a_025"><font style="font-size: 10pt"><u>ITEM&nbsp;15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES</u></font></a></td>
    <td style="vertical-align: bottom; text-align: right"><a href="#a_025"><font style="font-size: 10pt"><u>86</u></font></a></td></tr>
<tr>
    <td style="vertical-align: top"><a href="#a_029">ITEM &nbsp;16. FORM 10-K SUMMARY</a></td>
    <td style="vertical-align: bottom; text-align: right"><a href="#a_029">92</a></td></tr>
<tr>
    <td style="vertical-align: top"><a href="#a_028"><font style="font-size: 10pt"><u>SIGNATURES</u></font></a></td>
    <td style="vertical-align: bottom; text-align: right"><a href="#a_028"><font style="font-size: 10pt"><u>93</u></font></a></td></tr>
<tr>
    <td style="vertical-align: top; text-indent: 10pt"><font style="font-size: 10pt">EX-10.88</font></td>
    <td style="vertical-align: bottom">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top; text-indent: 10pt"><font style="font-size: 10pt">EX-21</font></td>
    <td style="vertical-align: bottom">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top; text-indent: 10pt"><font style="font-size: 10pt">EX-23</font></td>
    <td style="vertical-align: bottom">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top; text-indent: 10pt"><font style="font-size: 10pt">EX-31.1</font></td>
    <td style="vertical-align: bottom">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top; text-indent: 10pt"><font style="font-size: 10pt">EX-31.2</font></td>
    <td style="vertical-align: bottom">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top; text-indent: 10pt"><font style="font-size: 10pt">EX-32.1</font></td>
    <td style="vertical-align: bottom">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top; text-indent: 10pt"><font style="font-size: 10pt">EX-32.2</font></td>
    <td style="vertical-align: bottom">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top; text-indent: 10pt"><font style="font-size: 10pt">EX-101</font></td>
    <td style="vertical-align: bottom">&nbsp;</td></tr>
</table>
<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>


<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b></b></p>

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<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>PART I</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 10%"><font style="font-size: 10pt"><b><a name="a_001"></a>ITEM 1.</b></font></td>
    <td style="width: 1%; text-align: justify">&nbsp;</td>
    <td style="width: 89%; text-align: justify"><font style="font-size: 10pt"><b><i>BUSINESS</i></b></font></td></tr>
</table>
<p style="font-size: 10pt; margin: 0pt 0">&nbsp;&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Forward-Looking Statements</b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 6pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">This report includes forward-looking statements within the meaning
of Section&nbsp;21E of the Securities Exchange Act of 1934, as amended, which are subject to the &#8220;safe harbor&#8221; created
in Section&nbsp;21E. In particular, statements about our expectations, beliefs, plans, objectives or assumptions of future events
or performance are contained or incorporated by reference in this report. All statements other than statements of historical facts
contained herein are forward-looking statements. We have based these forward-looking statements on our current expectations about
future events. While we believe these expectations are reasonable, forward-looking statements are inherently subject to risks and
uncertainties, many of which are beyond our control. Our actual results may differ materially from those suggested by these forward-looking
statements for various reasons, including those discussed in this report under the heading &#8220;Risk Factors.&#8221; Given these
risks and uncertainties, you are cautioned not to place undue reliance on our forward-looking statements. The forward-looking statements
included in this report are made only as of the date hereof. We do not undertake, and specifically decline, any obligation to update
any of these statements or to publicly announce the results of any revisions to any forward-looking statements to reflect future
events or developments. When used in the report, unless otherwise indicated, &#8220;we,&#8221; &#8220;our,&#8221; &#8220;us,&#8221;
the &#8220;Company&#8221; and &#8220;BioCryst&#8221; refer to BioCryst Pharmaceuticals, Inc.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">This Annual Report on Form 10-K also contains
statements about our proposed strategic combination with Idera Pharmaceuticals, Inc. Many risks and uncertainties could cause actual
results to differ materially from these forward-looking statements with respect to the pending transaction, and these risks, as
well as other risks associated with the pending transaction, are more fully disclosed in the joint proxy statement/prospectus that
is included in the registration statement on Form S-4 (File No. 333-223255) that was filed with the U.S. Securities and Exchange
Commission in connection with the pending transaction.</P>






<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Agreement and Plan of Merger</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">As further described in Note 13 to the financial
statements, which includes the definitions of certain terms used below, on January 21, 2018, we entered into an Agreement and Plan
of Merger, or the &ldquo;Merger Agreement&rdquo;, with Idera Pharmaceuticals, Inc. (&ldquo;Idera&rdquo;), Nautilus Holdco, Inc.
(&ldquo;Holdco&rdquo;), Island Merger Sub, Inc. (&ldquo;Merger Sub A&rdquo;) and Boat Merger Sub, Inc. (&ldquo;Merger Sub B&rdquo;).
Pursuant to the Merger Agreement, Idera will merge into Island Merger Sub, Inc. and BioCryst will merge into Boat Merger Sub, Inc.
and each of Idera and BioCryst will survive the merger as wholly owned subsidiaries of Holdco. <FONT STYLE="color: #333333">U</FONT>pon
completion of the mergers described therein (the &ldquo;Mergers&rdquo;), each issued and outstanding share of Idera common stock
will be converted into the right to receive 0.20 shares of Holdco common stock (the &quot;Idera exchange ratio&quot;), and each
issued and outstanding share of BioCryst common stock will be converted into the right to receive 0.50 shares of Holdco common
stock (the &quot;BioCryst exchange ratio&quot; and together with the Idera exchange ratio, the &quot;exchange ratios&quot;). The
exchange ratios will not be adjusted for changes in the market price of either BioCryst common stock or Idera common stock between
the date of signing of the Merger Agreement and completion of the Mergers. Upon completion of the Mergers, each issued and outstanding
share of Idera preferred stock (with certain exceptions) will be converted into the right to receive an amount of Holdco common
stock based on its liquidation preference. <FONT STYLE="color: #333333">On a pro forma, fully diluted basis, giving effect to all
dilutive stock options, units and warrants, BioCryst stockholders will own 51.6% of the stock of the combined company and Idera
stockholders will own 48.4%. The stock issuance in the Merger is expected to be tax-free to stockholders.</FONT></P>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt; color: #333333">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"><FONT STYLE="color: #333333">The Merger Agreement
has been unanimously approved by the boards of directors of both companies.&nbsp;The transaction is subject to approval by the
stockholders of both companies and satisfaction of customary closing conditions.&nbsp;</FONT>Affiliates of Baker Bros. Advisors,
LP (&quot;Baker Brothers&quot;), which, at the time of signing the Merger Agreement was the beneficial owner of approximately 14%
of issued and outstanding BioCryst common stock and approximately 9% of issued and outstanding Idera common stock, have agreed,
among other things, to vote their shares of BioCryst common stock and Idera common stock in favor of the proposal to adopt the
Merger Agreement at each of the BioCryst special meeting and Idera special meeting. <FONT STYLE="color: #333333">The combined company,
which will be renamed post-closing, will be headquartered in Exton, PA, at the current Idera headquarters, with a consolidated
research center in Birmingham, AL, at the current BioCryst facility.</FONT></P>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt; color: #333333">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt; color: #333333"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">On March 6, 2018, a purported stockholder
of&nbsp;BioCryst&nbsp;filed a putative class action lawsuit against&nbsp;BioCryst, the BioCryst board of directors, Idera, Holdco,
Merger Sub A and Merger Sub B&nbsp;in the United States District Court for the District of Delaware, captioned&nbsp;<I>Melvyn Klein
v. BioCryst Pharmaceuticals, Inc., et al.</I>, Case No. 1:18-cv-00358-UNA. The complaint alleges that the&nbsp;defendants violated
Sections 14(a) and 20(a) of the Exchange Act because the preliminary Form S-4 filed with&nbsp;the Securities and Exchange Commission
allegedly contains material omissions and misstatements.&nbsp;The&nbsp;complaint seeks, among other things, injunctive relief preventing
the consummation of the Mergers until&nbsp;additional disclosures are made, and damages. BioCryst believes that the action is without
merit.</P>






<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt; color: #333333">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt; color: #333333"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"><font style="color: #333333"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"><FONT STYLE="color: #333333">The transaction
is expected to be completed during the second quarter of 2018.</FONT> However, we have prepared this Annual Report on Form 10-K
and the forward-looking statements contained in this Annual Report on Form 10-K as an independent company without giving effect
to the Mergers.</P>





<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Our Business</b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We are a biotechnology company that designs, optimizes and develops
novel small molecule drugs that block key enzymes involved in the pathogenesis of diseases. We focus on oral treatments for rare
diseases in which significant unmet medical needs exist and that align with our capabilities and expertise. We integrate the disciplines
of biology, crystallography, medicinal chemistry and computer modeling to discover and develop small molecule pharmaceuticals through
the process known as structure-guided drug design. Structure-guided drug design is a drug discovery approach by which we design
synthetic compounds from detailed structural knowledge of the active sites of enzyme targets associated with particular diseases.
We use X-ray crystallography, computer modeling of molecular structures and advanced chemistry techniques to focus on the three-dimensional
molecular structure and active site characteristics of the enzymes that control cellular biology. Enzymes are proteins that act
as catalysts for many vital biological reactions. Our goal generally is to design a compound that will fit in the active site of
an enzyme and thereby prevent its catalytic activity. Molecules from our discovery efforts which are commercially available or
that are in active development are summarized in the table below:</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: bottom">
    <td style="width: 17%; border-bottom: black 1pt solid"><font style="font-size: 10pt">Drug/Drug Candidate</font></td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 35%; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">Drug Class</font></td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 19%; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">Therapeutic</font><br>
<font style="font-size: 10pt">Area(s)</font></td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 10%; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">Phase</font></td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 15%; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">Rights</font></td></tr>
<tr>
    <td style="vertical-align: top">
        <p style="font-size: 10pt; margin: 0pt 3.2pt 0pt 0">RAPIVAB<sup>&#174;</sup></p>
        <p style="font-size: 10pt; margin: 0pt 3.2pt 0pt 0">(peramivir injection)</p></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Intravenous Neuraminidase Inhibitor</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Acute uncomplicated Influenza</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">
        <p style="font-size: 10pt; margin: 0pt 3.2pt 0pt 0">Approved</p>
        <p style="font-size: 10pt; margin: 0pt 3.2pt 0pt 0">(US &amp; Canada)</p>
        <p style="font-size: 10pt; margin: 0pt 3.2pt 0pt 0">&nbsp;</p></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Seqirus (worldwide, except Japan, Korea, Taiwan and Israel) BioCryst retains full U.S. Government stockpiling
rights</font></td></tr>
<tr>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top">
        <p style="font-size: 10pt; margin: 0pt 3.2pt 0pt 0">ALPIVAB<sup>TM</sup></p>
        <p style="font-size: 10pt; margin: 0pt 1.6pt 0pt 0">(peramivir injection)</p></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Intravenous Neuraminidase Inhibitor</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Acute uncomplicated Influenza</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">MAA filed and being reviewed by the EMA</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Seqirus (worldwide, except Japan, Korea, Taiwan and Israel)</font></td></tr>
<tr>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top">
        <p style="font-size: 10pt; margin: 0pt 3.2pt 0pt 0">RAPIACTA<sup>&#174;</sup></p>
        <p style="font-size: 10pt; margin: 0pt 3.2pt 0pt 0">(peramivir injection)</p>
        <p style="font-size: 10pt; margin: 0pt 3.2pt 0pt 0">&nbsp;</p></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Intravenous Neuraminidase Inhibitor</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Uncomplicated seasonal influenza</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">
        <p style="font-size: 10pt; margin: 0pt 3.2pt 0pt 0">Approved</p>
        <p style="font-size: 10pt; margin: 0pt 3.2pt 0pt 0">(Japan &amp; Taiwan)</p></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">
        <p style="font-size: 10pt; margin: 0pt 3.2pt 0pt 0">Shionogi</p>
        <p style="font-size: 10pt; margin: 0pt 3.2pt 0pt 0">(Japan &amp; Taiwan)</p>
        <p style="font-size: 10pt; margin: 0pt 3.2pt 0pt 0">&nbsp;</p></td></tr>
<tr>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top">
        <p style="font-size: 10pt; margin: 0pt 3.2pt 0pt 0">PERAMIFLU<sup>&#174;</sup></p>
        <p style="font-size: 10pt; margin: 0pt 3.2pt 0pt 0">(peramivir injection)</p></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Intravenous Neuraminidase Inhibitor</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Uncomplicated seasonal influenza</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">
        <p style="font-size: 10pt; margin: 0pt 3.2pt 0pt 0">Approved</p>
        <p style="font-size: 10pt; margin: 0pt 3.2pt 0pt 0">(Korea)</p></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">
        <p style="font-size: 10pt; margin: 0pt 3.2pt 0pt 0">Green Cross</p>
        <p style="font-size: 10pt; margin: 0pt 3.2pt 0pt 0">(Korea)</p></td></tr>
<tr>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top"><font style="font-size: 10pt">BCX7353</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Oral Serine Protease Inhibitor Targeting Plasma Kallikrein
    (intended to be a once-daily treatment)</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Hereditary Angioedema (HAE)</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">
        <p style="font-size: 10pt; margin: 0pt 2.4pt 0pt 0">Phase 3</p>
        <p style="font-size: 10pt; margin: 0pt 2.4pt 0pt 0">&nbsp;</p></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">
        <p style="font-size: 10pt; margin: 0pt 3.2pt 0pt 0">BioCryst</p>
        <p style="font-size: 10pt; margin: 0pt 3.2pt 0pt 0">(worldwide)</p></td></tr></table>



<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="vertical-align: top; width: 17%">&nbsp;</td>
    <td style="vertical-align: bottom; width: 1%">&nbsp;</td>
    <td style="vertical-align: top; width: 35%">&nbsp;</td>
    <td style="vertical-align: bottom; width: 1%">&nbsp;</td>
    <td style="vertical-align: top; width: 19%">&nbsp;</td>
    <td style="vertical-align: bottom; width: 1%">&nbsp;</td>
    <td style="vertical-align: top; width: 10%">&nbsp;</td>
    <td style="vertical-align: bottom; width: 1%">&nbsp;</td>
    <td style="vertical-align: top; width: 15%">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top"><font style="font-size: 10pt">Second Generation&nbsp;</font><br>
<font style="font-size: 10pt">Kallikrein Inhibitors</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Oral Serine Protease Inhibitors Targeting Plasma
    Kallikrein</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">HAE and other indications</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Preclinical</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">BioCryst</font><br>
<font style="font-size: 10pt">(worldwide)</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top"><font style="font-size: 10pt">BCX9250 <br>
BCX9499 </font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Activin Receptor-Like Kinase-2 Inhibitors</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Fibrodysplasia Ossificans Progressiva (FOP)</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Preclinical</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">BioCryst (worldwide)</font></td></tr>
<tr>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top">Lead Candidate</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">New Molecular Entity</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">Undisclosed</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">Preclinical</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">BioCryst (worldwide)</font></td></tr>
<tr>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top"><font style="font-size: 10pt">Galidesivir (formerly BCX4430)</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">RNA dependent-RNA Polymerase Inhibitor</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Broad spectrum antiviral for 20 RNA viruses, including Ebola, Marburg, and Zika</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Phase 1</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">
        <p style="font-size: 10pt; margin: 0pt 3.2pt 0pt 0">BioCryst</p>
        <p style="font-size: 10pt; margin: 0pt 3.2pt 0pt 0">(worldwide)</p></td></tr>
<tr>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: top"><font style="font-size: 10pt">Mundesine&#174; (forodesine)</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Oral Purine Nucleoside Phosphorylase Inhibitor</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Oncology- PTCL</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">Approved (Japan)</font></td>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">
        <p style="font-size: 10pt; margin: 0pt 3.2pt 0pt 0">Mundipharma</p>
        <p style="font-size: 10pt; margin: 0pt 3.2pt 0pt 0">(worldwide)</p></td></tr>
</table>
<p style="font-size: 10pt; margin: 0pt 0"><b>&nbsp;</b></p>

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<p style="font-size: 10pt; margin: 0pt 0"><b></b></p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Business Strategy</b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 6pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Our business strategy is to create shareholder value by focusing our
discovery and development efforts on oral drugs for rare diseases for which a significant unmet medical need exists. We select
disease targets and product candidates in which a small molecule would offer a significant benefit over existing products or would
be the first to market. We strive to advance our product candidate portfolio from discovery to commercial markets efficiently by
utilizing a small group of talented and highly-skilled employees working in conjunction with strategic outsource partners. BioCryst
is unique in its approach to treat orphan diseases with orally-administered, small molecules utilizing crystallography and structure-guided
drug design. The principal elements of our strategy are:&nbsp;</p>

<p style="font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="width: 5%">&nbsp;</td>
    <td style="vertical-align: top; width: 2%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top; width: 1%">&nbsp;</td>
    <td style="vertical-align: top; width: 92%"><font style="font-size: 10pt"><i>Focusing on High Value-Added Structure-Guided Drug Design Technologies.</i> We utilize structure-guided drug design in order to most efficiently develop new therapeutic candidates. Structure-guided drug design is a process by which we design a product candidate through detailed analysis of the enzyme target, which the product candidate must inhibit in order to stop the progression of the disease or disorder. We believe that structure-guided drug design is a powerful tool for the efficient development of small-molecule product candidates that have the potential to be safe and effective. Our structure-guided drug design technologies typically allow us to design and synthesize multiple product candidates that inhibit the same enzyme target, with the goal of establishing broad patent protection and formulating compounds with competitive advantages.</font></td></tr>
</table>
<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="width: 5%">&nbsp;</td>
    <td style="vertical-align: top; width: 2%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top; width: 1%">&nbsp;</td>
    <td style="vertical-align: top; width: 92%"><font style="font-size: 10pt"><i>Selecting Inhibitors that are Promising Product Candidates.</i> We start by selecting disease targets with well-understood biology and characteristics that fit with our ability to utilize structure-guided drug design capabilities to build potent and specific enzyme inhibitors. Next, we narrow our selection of these product candidates based on product characteristics, such as initial indications of safety and biologic activity on the target.</font></td></tr>
</table>
<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="width: 5%">&nbsp;</td>
    <td style="vertical-align: top; width: 2%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top; width: 1%">&nbsp;</td>
    <td style="vertical-align: top; width: 92%"><font style="font-size: 10pt"><i>Developing our Product Candidates
    Efficiently.</i> An important element of our business strategy is to efficiently progress our product candidates through the
    development process. In order to accomplish this, we typically strive for disease targets with a defined clinical and
    regulatory pathway for approval. In addition, we control fixed costs and overhead by outsourcing with strategic partners and
    contractors or entering into license agreements with third parties, including the U.S. Government. We maintain a streamlined
    corporate infrastructure that focuses our expertise. By contracting with the U.S. Government and outsourcing certain aspects
    of our operations, we are able to control overhead costs and focus financial resources directly where they provide the most
    benefit and reduce our business risk.</font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We are a Delaware corporation originally founded in 1986. Our corporate
headquarters is located at 4505 Emperor Blvd., Suite&nbsp;200, Durham, North Carolina 27703 and the corporate telephone number
is (919)&nbsp;859-1302. For more information about us, please visit our website at www.biocryst.com. The information on our website
is not incorporated into this Form&nbsp;10-K.</p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Peramivir injection</b> (RAPIVAB<sup>&#174;</sup>, RAPIACTA<sup>&#174;</sup>, PERAMIFLU<sup>&#174;</sup>,
ALPIVAB<sup>TM</sup>)&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>


<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">Peramivir was most recently approved under
a pediatric Supplemental New Drug Application (&ldquo;sNDA&rdquo;) in the United States in September 2017, extending its availability
for the treatment of acute uncomplicated influenza to pediatric patients 2 years and older. It was approved in Canada in January
2017, and was originally approved in the United States in December 2014. Peramivir is indicated for the treatment of acute uncomplicated
influenza in patients who have been symptomatic for no more than two days. Data from over 2,700 subjects treated with peramivir
in 27 clinical trials was utilized to support original regulatory approval in these countries. We made RAPIVAB available for commercial
sale in the U.S. through agreements with specialty distributorships during the 2014-2015 influenza season. On June 17, 2015, we
announced that we licensed peramivir for the treatment of influenza to CSL Limited (&ldquo;CSL&rdquo;), a global biopharmaceutical
company. Peramivir is being commercialized by a subsidiary of CSL called Seqirus UK Limited (&ldquo;SUL&rdquo; or &ldquo;Seqirus&rdquo;),
which specializes in influenza prevention through the supply of seasonal and pandemic influenza vaccine to global markets. Under
the terms of the agreement, SUL obtained worldwide rights to commercialize peramivir,with the exception of Japan, Korea, Taiwan
and Israel. We retained all rights to pursue pandemic stockpiling orders for RAPIVAB from the U.S. Government, while SUL is responsible
for government stockpiling outside the U.S. The product is not currently available in Canada.<B>&nbsp;</B>The parties have entered
into the formal dispute resolution process under the License Agreement to resolve decisions related to the collaboration. With
the out-license of peramivir to SUL, our main activities for RAPIVAB are to obtain a stockpiling procurement contract with the
U.S. Government and to continue to fulfill our post-approval development requirements.</P>






<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt"></p>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt"></p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt">In January 2017, we announced that the
European Medicines Agency (&ldquo;EMA&rdquo;) has accepted the filing of our peramivir injection Marketing Authorization Application
(&ldquo;MAA&rdquo;) for treatment of symptoms typical of influenza in adults 18&nbsp;years and older. On February 22, 2018, the
Committee for Medicinal Products for Human Use (&ldquo;CHMP&rdquo;) adopted a positive opinion for the treatment of uncomplicated
influenza in adults and children from the age of 2 years and thereby recommended the granting of a Marketing Authorization for
ALPIVAB<SUP>TM</SUP>.&nbsp;The final EMA decision is expected in the second quarter of 2018. If the MAA is approved, Seqirus will
have the ability to commercialize peramivir as ALPIVAB in the European Union for all 28 member states of the European Union, Norway
and Iceland.</P>






<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt"></p>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">RAPIVAB was developed under a $234.8 million
contract from the Biomedical Advanced Research and Development Authority within the United States Department of Health and Human
Services (&ldquo;BARDA/HHS&rdquo;). See &ldquo;Collaborations and In-License Relationships&mdash;BARDA/HHS&rdquo; below for a further
discussion of this development contract.</P>







<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">In January 2010, our partner Shionogi&nbsp;&amp;
Co., Ltd. (&#8220;Shionogi&#8221;) received the first approval for peramivir injection and launched it in Japan under the commercial
name RAPIACTA. It is approved for the treatment of adults, children and infants with uncomplicated seasonal influenza and those
patients at high-risk for complications associated with influenza. In August 2010, Green Cross Corporation (&#8220;Green Cross&#8221;)
received marketing and manufacturing approval from the Korean Food&nbsp;&amp; Drug Administration under the commercial name PERAMIFLU
to treat patients with influenza A &amp; B viruses, including pandemic H1N1 and avian influenza.</p>



<p style="font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Hereditary Angioedema (&#8220;HAE&#8221;) Drug Candidates</b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">HAE is a rare, severely debilitating and potentially fatal genetic
condition that occurs in approximately 1 in 50,000 people. HAE symptoms include recurrent episodes of edema in various locations,
including the hands, feet, face, genitalia and airway. Airway swelling is particularly dangerous and can lead to death by asphyxiation.
In addition, patients often have bouts of severe abdominal pain, nausea and vomiting caused by swelling in the intestinal wall.
By inhibiting plasma kallikrein, our HAE drug candidates suppress bradykinin production. Bradykinin is the mediator of acute swelling
attacks in HAE patients.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><i>&nbsp;</i></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"><I><U>BCX7353:</U></I> BCX7353 is a second
generation HAE compound and our lead molecule that is being developed as a once-daily (&ldquo;QD&rdquo;) oral therapy for the prevention
of HAE attacks (prophylaxis), as well as an acute therapy for HAE attacks. We have recently completed our Phase 2 prophylaxis program
(with the completion of APeX-1 and subsequent FDA and EMA regulatory interactions) and are in the process of initiating APeX-2
and APeX-S, a Phase 3 and a long-term safety clinical trial, respectively, required for marketing authorization in the United States
and Europe.</P>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">On October 27, 2015 The Japanese Ministry
of Health Labor &amp; Welfare (&ldquo;MHLW&rdquo;) announced that BioCryst&rsquo;s BCX7353 was one of six products designated under
MLHW&rsquo;s Sakigake fast track review system. The Sakigake designation system promotes research and development in Japan, aiming
at early market availability for innovative pharmaceutical products. This designation provides for additional interactions with
the regulatory agency in Japan from early development through filing, prioritized development and review, and introduction of the
product as soon as possible to address a serious unmet medical need. With the final results of APeX-1 available, we expect to reach
agreement with the Japanese Pharmaceuticals and Medical Devices Agency (&ldquo;PMDA&rdquo;) and the MHLW in the first half of 2018
to determine the regulatory pathway and timeline for BCX7353 in Japan.</P>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0; color: #333333">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><i><u>APeX-1 Phase 2 Trial in HAE</u></i>: In August 2016, we announced
that we had dosed the first subject in the Phase 2 APeX-1 clinical trial of BCX7353 for the orally administered QD prophylactic
treatment of HAE. APeX-1 was a three-part, dose-ranging, randomized, double-blind, placebo-controlled, dose ranging trial to evaluate
the safety, tolerability, pharmacokinetics, pharmacodynamics and efficacy of BCX7353 as a preventative treatment to eliminate or
reduce the frequency of angioedema attacks in HAE patients. APeX-1 was a 28-day trial and was conducted in several European countries,
Australia and Canada.</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">On February 27, 2017, we reported statistically significant and clinically
meaningful reductions in attack frequency from our first interim analysis (part 1) of the multi-part APeX-1 clinical trial in HAE
patients. On May 25, 2017, we announced positive results from a second interim analysis of our APeX-1 clinical trial. This second
interim analysis was a composite of pooled data from Parts 1 and 2 of the clinical trial.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">On September 5, 2017, we announced final results from the Phase 2
APeX-1 clinical trial in HAE patients. This final analysis evaluated data from all patients in Parts 1, 2 and 3 of the trial and
evaluated four doses of BCX7353 ranging from 62.5 mg up to 350 mg for 28 days. The primary efficacy endpoint of APeX-1 was the
number of angioedema attacks. Efficacy analyses were conducted for HAE attacks reported over the entire dosing interval (Days 1
through 28) and during the dosing period in which plasma concentrations of BCX7353 should be at steady-state conditions (Days 8
through 28). Secondary efficacy endpoints included severity and duration of angioedema attacks and measures of health-related quality
of life. Safety was characterized through evaluation of adverse events and laboratory testing. Pharmacokinetics and pharmacodynamic
effects were assessed through measurement of plasma drug levels and kallikrein inhibition.</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Seventy-five subjects were randomized and included in the final analysis
of pooled data from Parts 1, 2 and 3: 7 at 62.5 mg, 14 at 125 mg, 14 at 250 mg and 18 at 350 mg of BCX7353 QD; and 22 placebo.
The qualifying attack rate was approximately 1/week. Baseline characteristics were generally well balanced across the treatment
groups. Compliance with daily study drug dosing for 28 days was excellent (&#8805; 98% across all treatment groups). Subjects recorded
angioedema symptoms in a diary; diary records were reviewed and attacks adjudicated by an independent expert group. The primary
endpoint of the trial was the number of HAE attacks. The pre-specified per-protocol final analysis included data on a total of
67 subjects with Type 1 or Type 2 HAE completing &gt; 90% of planned study drug doses. The percentage reductions by treatment group
in the mean rate of angioedema attacks for the pre-defined effective dosing period (weeks 2 through 4) in BCX7353 treated subjects
are indicated in the table below. Results from a pre-planned analysis of peripheral and abdominal attacks are also shown. Similar
results to those shown were seen in the analysis of weeks 1 through 4 and the intent-to-treat population.</p>



<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td>&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</td>
    <td colspan="3" style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>Percentage change in attacks vs. placebo (p-Value)</b></p>
        <p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>Per protocol population, weeks 2-4 of treatment</b></p></td></tr>
<tr>
    <td style="width: 9%">&nbsp;</td>
    <td style="width: 20%; border-bottom: black 1pt solid; border-right: black 1pt solid; text-align: center">&nbsp;</td>
    <td style="vertical-align: bottom; width: 3%; border-bottom: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font-size: 10pt">N</font></td>
    <td style="vertical-align: bottom; width: 26%; border-bottom: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font-size: 10pt">All Attacks</font></td>
    <td style="vertical-align: bottom; width: 21%; border-bottom: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font-size: 10pt">Peripheral Attacks</font></td>
    <td style="vertical-align: bottom; width: 21%; border-bottom: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font-size: 10pt">Abdominal Attacks</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><font style="font-size: 10pt">BCX7353 350 mg</font></td>
    <td style="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">14</font></td>
    <td style="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">-58% (p &lt; 0.001)</font></td>
    <td style="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">-90% (p &lt; 0.001)</font></td>
    <td style="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">-5% (p=0.884)</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><font style="font-size: 10pt">BCX7353 250 mg</font></td>
    <td style="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">12</font></td>
    <td style="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">-46% (p=0.006)</font></td>
    <td style="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">-66% (p=0.005)</font></td>
    <td style="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">-13% (p=0.700)</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><font style="font-size: 10pt">BCX7353 125 mg</font></td>
    <td style="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">13</font></td>
    <td style="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">-73% (p &lt; 0.001)</font></td>
    <td style="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">-79% (p &lt; 0.001)</font></td>
    <td style="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">-63% (p=0.048)</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><font style="font-size: 10pt">BCX7353 62.5 mg</font></td>
    <td style="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">7</font></td>
    <td style="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">-7% (p=0.715)</font></td>
    <td style="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">-25% (p=0.371)</font></td>
    <td style="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">+22% (p=0.578)</font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The 125 mg dose level showed statistically significant and similar
benefit for all attacks, and also when split into abdominal attacks and peripheral attacks. In contrast, at the 250 mg and 350
mg dose levels, there was no statistically significant effect for abdominal attacks, despite strong and statistically significant
effects on peripheral attacks. Based on these findings, it is likely that subjects in the 250 mg and 350 mg arms recorded transient
drug-related abdominal AEs as HAE attack symptoms in their diary. As expected, the lowest dose tested (62.5 mg QD) showed no statistically
significant differences in attack rates (total, or when split into abdominal and peripheral) compared with placebo. The range of
doses studied and associated results complete the dose response evaluation required to inform Phase 3 dose selection.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">An analysis of the proportion of subjects achieving levels of percent
reduction in attacks was also performed; this analysis compared on-study attack rate to qualifying attack rate for each subject.
Response levels were defined as reductions of &#8805;50%, &#8805;70%, or &#8805;90%. Results for all dose groups indicated that the dose
group with the highest proportion of responders using each definition was the 125 mg group, and was 4 to 5 times greater than the
proportion of responders in the placebo group. The proportion of responders in the 62.5 mg group was similar to placebo.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In addition, we performed an exploratory ad hoc analysis of the placebo,
62.5 mg QD and 125 mg QD dose groups to examine the relationship of change in attack rate to dose and the effect of achieving target
drug levels. The 125 mg group had a mean change in attack rate of -0.73 per week (improvement from qualifying) compared to -0.07
attacks per week for placebo and -0.24 attacks per week for the 62.5 mg QD dose group. The effect of achieving the target drug
level (equivalent to 4 times EC50 against plasma kallikrein) at trough measured at steady state on study day 15 was also explored
for subjects randomized to the placebo, 62.5 mg and 125 mg levels. Placebo subjects were assigned a zero drug level value. Subjects
were categorized as achieving or not achieving the target level and the proportion of subjects in each of these two categories
who had responses of reductions in &#8805;50%, &#8805;70%, or &#8805;90% in attack rate was compared and the odds ratios calculated. The
odds for subjects achieving &#8805;50%, &#8805;70%, or &#8805;90% responses if the target drug level was met or exceeded were 5.6, 12.9
and 26.4 times higher respectively than for subjects who did not meet or exceed target drug level.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">A significant increase in the proportion of attack-free subjects was
observed in the 125 mg QD dose group compared to placebo (46% versus 10%, p= 0.033). Furthermore, a clinically important and statistically
significant improvement in patient quality of life total score, measured using the AE-QoL (Quality of Life) instrument, was seen
in the 125 mg QD group compared to placebo (p &lt; 0.001). The mean improvement in the 125 mg QD group was more than four times
the minimum clinically important difference.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Oral BCX7353 once-daily for 28 days was generally safe and well tolerated
in subjects with HAE. No new clinically significant safety findings were seen in Part 3 of the trial from the two earlier component
parts of the trial. Overall, there was one serious adverse event of moderate gastrointestinal infection that was determined by
the investigator not to be drug-related. Study drug was discontinued before day 28 in three subjects in the BCX7353 350 mg treatment
arm (unrelated pre-existing liver disorder; related gastroenteritis with liver disorder; and related vomiting/abdominal cramps).
The most common treatment-emergent AEs in descending order of frequency were the common cold, headache, diarrhea, nausea and abdominal
pain. Gastrointestinal AEs were infrequent at the 125 mg and 62.5 mg dose levels, and there were no clinically significant laboratory
abnormalities at these dose levels, though increases in liver enzymes were observed in several subjects at higher dose levels.
Adverse events in the gastrointestinal system organ class were more frequent in the 350 mg QD and 250 mg QD dose groups compared
to placebo. Elevated liver enzymes were reported in several subjects, and an analysis of liver enzyme safety tests including alanine
aminotransferase (&#8220;ALT&#8221;) levels showed that of 4 subjects who had elevations of ALT to more than or equal to 3 times
the upper limit of normal (&#8220;ULN&#8221;), all 4 had prior exposure to androgens, 3 were in the 350 mg QD group, 1 was in the
250 mg QD group, and 3 had baseline (prior to study drug administration) elevations in ALT of close to or greater than 3 times
the ULN.</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Steady state BCX7353 plasma levels and kallikrein
inhibition levels were consistent with previous analyses. Steady state trough drug levels (24 hours after dosing) exceeded the
proposed target threshold for efficacy of 4 times the 50% effective concentration (EC 50) of 9ng/ml in 0%, 64%, 100% and 100% of
subjects at the 62.5 mg, 125 mg, 250 mg and 350 mg dose levels, respectively.</p>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">In the fourth quarter of 2017, we completed
regulatory interactions with the FDA and EMA and reached agreement on the Phase 3 program requirements to support NDA and MAA submissions
for prophylactic treatment of HAE with BCX7353. Based upon this agreement, we began screening patients in the APeX-S and APeX-2
clinical trials, which are the significant aspects of the remaining development program. Accordingly, we have initiated screening
for a 24-week randomized, double-blind, placebo-controlled Phase 3 clinical trial studying two doses of BCX7353 (&ldquo;APeX-2&rdquo;).
Patients will roll-over into a 24 week safety extension. Separately, we announced that we initiated a long-term safety trial (&ldquo;APeX-S&rdquo;),
which will enroll approximately 160 patients who will be randomized to the two doses of BCX7353 included in APeX-2. Subjects will
remain on study-drug for 48 weeks. On February 28, 2018, we announced that we had dosed the first patient in the APeX-S trial.
We have received orphan drug status from the FDA for BCX7353.</P>






<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>


<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><i></i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><i><u>ZENITH-1 Trial</u></i>: On August 2, 2017, we announced the
dosing of the first subject into ZENITH-1, a clinical trial studying up to three dosage strengths of a liquid formulation of BCX7353
given as a single oral dose for the acute treatment of angioedema attacks in patients with HAE. ZENITH-1 is a randomized, double-blind,
placebo-controlled, adaptive dose-ranging trial of the efficacy, safety and tolerability of BCX7353 for treatment of acute angioedema
attacks, and will enroll up to 60 subjects with HAE. Blinded study drug is being dosed as an oral liquid after onset of symptoms,
for up to 3 attacks in each subject, with each subject receiving both BCX7353 (for 2 attacks) and placebo (for one attack) in a
randomized sequence. The trial is structured with up to 3 consecutive cohorts testing single doses of 750 mg (36 subjects), 500
mg (up to 12 subjects) and 250 mg (up to 12 subjects), starting with 750 mg. Efficacy assessments include patient-reported composite
visual analogue scale (&#8220;VAS&#8221;) scores, patient global assessment, change in symptoms, and use of rescue medication.
Treatment effect will be assessed by comparing the proportion of BCX7353-treated and placebo-treated attacks that have a stable
or improved composite VAS at 4 hours post dose. Enrollment has gone well with the trial thus far, and we have completed enrollment
in the 750 mg cohort and have begun enrolling patients in the 500 mg cohort.</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>




<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Fibrodysplasia Ossificans Progressiva (&#8220;FOP&#8221;) Drug Candidates</b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">FOP is a very rare disease that affects approximately
1 in 2 million people worldwide. In patients with FOP, minor trauma can result in rapid development of painful inflammatory masses.
These progress over several weeks resulting in the replacement of the affected soft tissue by permanent bone masses. There is no
cure for this condition, and there are no approved treatments for FOP.</p>


<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">On January 5, 2018, we announced the advancement of a program exploring
activin receptor-like kinase-2 (&#8220;ALK2&#8221;) inhibitors for treatment of FOP. ALK2 enzyme is a part of the normal signaling
pathway for bone formation and responds to binding its specific ligands (bone morphogenic proteins, or BMPs), by stimulating normal
bone growth and renewal in healthy children and adults. Specific activating mutations of the ALK2 gene are seen in all cases of
FOP. An activating mutation in ALK2 is necessary for the disease to occur, making the ALK2 kinase an ideal drug target for treatment
of FOP with an ALK2 kinase inhibitor. We have begun an Investigational New Drug Application (&#8220;IND&#8221;) enabling nonclinical
development with our two optimized lead candidates, BCX9250 and BCX9499. BCX9250 and BCX9499 were selected from a number of potential
candidates based on potency for the target kinase, selectivity, and safety screening criteria that included industry-standard in
vitro panels and in vivo PK and safety studies in laboratory animals. We plan to complete IND-enabling manufacturing and nonclinical
safety studies to support Phase 1 trials beginning in 2019, and as early as possible thereafter, clinical trials in patients with
FOP.</p>



<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0"></p>



<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The goal of the ALK2 inhibitor project at BioCryst is to discover
and develop orally administered kinase inhibitor drug candidates that are able to slow or prevent the progressive formation of
bone in soft tissues, also known as heterotopic ossification (&ldquo;HO&rdquo;). The two lead candidate molecules dramatically reduced HO in
an experimental model of ALK2-driven HO in laboratory rats, with up to 89 percent reduction in volume of HO compared to controls.</p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0"></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Other Nondisclosed preclinical program</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&nbsp;</b></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">We have begun IND-enabling nonclinical development
with a lead candidate in an undisclosed orphan disease. We are choosing not to disclose the therapeutic area/orphan disease for
competitive reasons. We have evaluated a few promising candidates from a larger number of potential candidates based on potency
for the target, selectivity, and safety screening criteria that included industry-standard in vitro panels and in vivo PK and safety
studies in laboratory animals, and have selected a lead optimized compound to advance into IND-enabling nonclinical development
studies. Similar to our FOP program, we plan to complete IND-enabling manufacturing and nonclinical safety studies to support Phase
1 trials beginning in 2019.</P>






<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>



<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Galidesivir (formerly BCX4430)</b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">Galidesivir is a broad-spectrum antiviral
(&ldquo;BSAV&rdquo;) research program and is currently being developed under contracts with the National Institute of Allergy and
Infectious Diseases (&ldquo;NIAID/HHS&rdquo;) and the U.S.&nbsp;Department of Health and Human Services (&ldquo;BARDA/HHS&rdquo;).
The objective of our BSAV program is to develop galidesivir as a broad-spectrum therapeutic for viruses that pose a threat to national
health and security. The primary focus of the program is treatment of hemorrhagic fever viruses. NIAID/HHS funding has supported
galidesivir&rsquo;s development as a treatment for Marburg virus and Ebola virus. In March 2014, galidesivir was featured in an
online <I>Nature</I> publication depicting successful efficacy results in animal models of infection with Marburg virus and Ebola
virus.&nbsp;Galidesivir completely protected cynomolgus macaques from Marburg virus infection when administered by intramuscular
(&ldquo;i.m.&rdquo;) injection 48 hours post-infection.&nbsp;Post-exposure i.m. administration of galidesivir also protected rodents
against Marburg virus and Ebola virus infections.&nbsp;In addition, galidesivir was shown to be active in vitro against a broad
range of other RNA viruses.&nbsp;The publication, which reported the protection of non-human primates from filovirus disease by
galidesivir, describes efficacy results generated from an ongoing collaboration between scientists in the U.S. Army Medical Research
Institute of Infection Diseases (&ldquo;USAMRIID&rdquo;) and us.&nbsp;Galidesivir has been shown to be active against more than
20 RNA viruses in nine different families, including filoviruses, togaviruses, bunyaviruses, arenaviruses, paramyxoviruses, coronaviruses
and flaviviruses.&nbsp;In animal studies, galidesivir has demonstrated survival benefits against a variety of serious pathogens,
including Ebola, Marburg, Yellow Fever and Zika viruses and from exposures to aerosolized Marburg virus, an experimental condition
designed to mimic an exposure scenario that could result during a bioterrorist attack.</P>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">On December 15, 2014, we announced the dosing of the first subject
in a randomized, placebo-controlled Phase 1 clinical trial to evaluate i.m. administration of galidesivir in healthy volunteers.
The main goals of this first-in-human study were to evaluate the safety, tolerability and pharmacokinetics of escalating doses
of galidesivir administered via i.m. injection in healthy subjects. In part one of the study, subjects received a single dose of
galidesivir; in part two of the study, subjects received galidesivir for seven days. There were six single-dose cohorts and four
multiple-dose cohorts evaluated, and 91 healthy volunteers participated. In August 2016, we reported the results of this study.
Galidesivir administered by i.m. injection was generally safe and well tolerated over the range of doses up to 10 mg/kg, and durations
tested (up to 7 days). Fifty subjects received doses of study drug and there were no serious or severe adverse events. The most
frequently reported adverse event across all cohorts was injection site pain and there were no clinically significant laboratory
abnormalities which occurred at any doses. In addition, co-administration of lidocaine with galidesivir was determined to ameliorate
injection site pain without altering the plasma pharmacokinetics profile of galidesivir. From this clinical trial, we determined
galidesivir was safe and well tolerated, and that exposure was dose-proportional and supported the continued development of this
BSAV drug candidate for serious emerging viral infections.</p>



<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">On December 23, 2014, we announced results from a successful proof-of-concept
study of galidesivir for the treatment of experimental Ebola virus infection in Rhesus macaques, conducted at USAMRIID. The primary
goal of the study was to assess the effect of galidesivir treatment on survival through Day 41 in animals infected with Ebola virus.
Dosing of&nbsp;placebo or galidesivir by i.m. injection was initiated 30-120 minutes after virus challenge and continued twice
a day (&#8220;BID&#8221;) for 14 days. Animals were dosed with either placebo, 16 mg/kg of galidesivir BID or 25 mg/kg of galidesivir
BID. Survival at day 41 in the 16 mg/kg BID group of galidesivir treated animals was 4 of 6 (66.7%, p &lt; 0.001 compared to 0%
survival in controls) and 6 of 6 in the 25 mg/kg BID group (100%, p &lt; 0.001 compared to controls). The overall survival rate
for galidesivir treated animals at day 41 was 10 of 12 (83%, p &lt; 0.001 compared to controls). Preliminary evaluation of the
quantity of virus in the blood showed an approximate 3-log reduction in Ebola virus RNA copies/mL of plasma, compared with control
animals. This Rhesus macaque study was conducted following the completion, in November 2014, of a dose-ranging study of galidesivir
for the experimental treatment of cynomolgus macaques infected with Ebola virus. The cynomolgus macaque study was designed to evaluate
whether galidesivir showed a meaningful benefit for survival in Ebola virus non-human primate (&#8220;NHP&#8221;) disease models
and explore a dose range. In this study galidesivir demonstrated a statistically significant prolongation of survival for the animals
at the highest dose regimen tested, but no animals survived beyond 21 days.</p>

<p style="font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">On March 7, 2016, results from a preclinical study of our antiviral
galidesivir in interferon-receptor-deficient mice infected with Zika virus were presented at a World Health Organization (&#8220;WHO&#8221;)
conference in Geneva, Switzerland. The primary goal of the study was to assess the effect of galidesivir treatment on survival
through Day 28 in interferon-receptor-deficient mice infected with the Zika virus. Galidesivir was administered by i.m. injection
twice a day beginning four hours prior to virus challenge and continuing for eight days; two dose levels were tested. In the standard
dose galidesivir group, 7 of 8 mice survived through Day 28. In the low dose galidesivir group (n=8), and in control groups administered
vehicle placebo (n=8) or ribavirin at two dose levels (n=16); no animals survived to Day 28. Overall survival for the standard
dose level of galidesivir was superior to both the placebo and the ribavirin treatment control groups (p &lt; 0.0001). For both
dose levels of galidesivir, median survival was superior to both control groups (&gt;28 days for galidesivir standard dose and
23 days for low dose) compared to 14 to 17 days for controls.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0; color: #333333">&nbsp; &nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Additional studies of galidesivir in the same mouse model were conducted
at Utah State University. In one study, surviving mice that were previously treated with the standard dose of galidesivir after
initial Zika virus challenge were re-challenged with the Zika virus on Day 28, without additional galidesivir treatment. All the
re-challenged mice survived through day 56 with no disease signs observed, indicating the development of effective immune responses.
A further experiment using the same AG129 mouse model tested the delayed treatment with galidesivir after viral challenge. Groups
of mice received galidesivir 150 mg/kg twice-daily by i.m. injection starting on days 1, 3, 5, or 7 post infection, or vehicle
(control group). All galidesivir treated groups showed a statistically significant survival benefit compared to vehicle controls.</p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0; color: #333333">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">On October 7, 2017, galidesivir nonclinical
results from a Zika virus infection model were presented at a scientific session at IDWeek by Dr. James B. Whitney, PhD, Assistant
Professor of Medicine, Harvard Medical School, and Principal Investigator in the Center for Virology and Vaccine Research at Beth
Israel Deaconess Medical Center in Boston. A total of 74 Rhesus macaques infected with a Puerto Rican ZIKV isolate by various routes
were studied, 55 treated with galidesivir and 19 with vehicle. Galidesivir i.m. was started at different times relative to virus
challenge in different treatment groups - from 90 minutes to 72 hours after subcutaneous (&ldquo;SC&rdquo;) ZIKV challenge, and
up to 5 days after intravaginal (&ldquo;IVAG&rdquo;) challenge. Efficacy of galidesivir was evaluated over a range of loading and
maintenance doses; the highest consisted of a one-day loading dose of 100mg/kg BID followed by a maintenance dose of 25mg/kg BID
for nine days. Outcome measures included virology &ndash; ZIKV RNA levels in plasma, urine, saliva, and cerebrospinal fluid (&ldquo;CSF&rdquo;)
&ndash; galidesivir pharmacokinetics, cellular and humoral immunologic markers, complete blood counts, and clinical chemistries.</P>





<p style="font-size: 10pt; margin: 0pt 0"><b>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">All vehicle-treated control, animals developed
high levels of Zika virus in the blood plasma (viremia), and had readily detectable ZIKV RNA in CSF, saliva and urine post-infection.
In contrast, all animals treated with galidesivir in the first 24 hours after SC ZIKV challenge did not develop viremia, and were
either negative for or had significantly reduced ZIKV RNA in bodily fluids. Animals treated with galidesivir later (up to 72 hours
post infection) were partially protected &ndash; they had detectable plasma ZIKV RNA, but the onset of viremia was delayed, and
its magnitude was significantly reduced compared to controls. Animals infected via the IVAG route were protected by galidesivir
treatment when dosing was delayed as late as 5 days after infection, with no viremia and significant reductions in ZIKV RNA in
the CSF compared with controls. Galidesivir was well-tolerated and offered significant protection against ZIKV challenge.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</b></p>

<p style="font-size: 10pt; margin: 0pt 0"><b></b></p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt">After multiple discussions with the FDA,
NIAID/HHS, and BARDA/HHS regarding the most appropriate future development path for galidesivir, we will focus our efforts on Marburg
virus.&nbsp;While both Ebola and Marburg infections represent significant medical countermeasure (&ldquo;MCM&rdquo;) emergencies
or threats to the United States, we have concluded the greatest unmet medical need is now to develop a MCM to address the threat
of Marburg infection. Accordingly, we plan to open an IND for galidesivir i.v. for post-exposure prophylaxis and treatment of Marburg
infection.</P>





<p style="font-size: 10pt; margin: 0pt 0"><b>&nbsp;</b></p>

<p style="font-size: 10pt; margin: 0pt 0"><b></b></p>

<p style="font-size: 10pt; margin: 0pt 0"><b></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Mundesine (forodesine)</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Mundesine is a Purine Nucleoside Phosphorylase (&#8220;PNP&#8221;)
inhibitor developed by Mundipharma as a treatment for cancer under a world-wide license agreement. PNP is a purine salvage pathway
enzyme. High doses of PNP inhibitors could be useful in the treatment of hematological malignancies. Mundipharma has received orphan
drug status for Mundesine, and following its successful completion of a Phase 2 pivotal study in recurrent/refractory peripheral
T-cell lymphoma (&#8220;PTCL&#8221;) patients in Japan it was approved in April 2017 by the MHLW in Japan as Mundesine. We are
currently receiving royalties on Mundesine.</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: 22.5pt">&nbsp;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">On November&nbsp;11, 2011, we entered into
an Amended and Restated License and Development Agreement (the &#8220;Amended and Restated Agreement&#8221;) with Mundipharma,
amending and restating the February&nbsp;1, 2006 exclusive, royalty-bearing Development and License Agreement for the development
and commercialization of Mundesine for use in the field of oncology. Under the terms of the Amended and Restated Agreement, Mundipharma
obtained worldwide rights to Mundesine, so Mundipharma controls the worldwide development and commercialization of Mundesine and
assumes all future development and commercialization costs.&nbsp;</p>



<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We have licensed the PNP technology from Albert Einstein College of
Medicine of Yeshiva University (&#8220;AECOM&#8221;) and Industrial Research, Ltd. (&#8220;IRL&#8221;) and will owe sublicense
payments to AECOM/IRL based on the future milestone payments and royalties received by us from Mundipharma and any other partners
for which we out-license our PNP inhibitors. On November&nbsp;17, 2011, we amended our agreement with AECOM/IRL whereby AECOM/IRL
agreed to accept a reduction of one-half of the percentage of Net Proceeds (as defined in the license agreement) received by us
under our Amended and Restated Agreement with Mundipharma. This reduction does not apply to royalty payments made as a result of
sales of licensed products by our sub licensees.</p>

<p style="font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Collaborations and In-License Relationships</b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><i><u></U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"><I><U>U.S.&nbsp;Department of Health and
Human Services (&ldquo;BARDA/HHS&rdquo;)</U>.</I> In January 2007, BARDA/HHS awarded us a $102.6 million, four-year contract for
the advanced development of peramivir for the treatment of influenza. During 2009, peramivir clinical development shifted to focus
on intravenous delivery and the treatment of hospitalized patients. To support this focus, a September 2009 contract modification
was awarded to extend the i.v. peramivir program and to increase funding by $77.2 million. On February&nbsp;24, 2011, we announced
that BARDA/HHS had awarded us a $55.0 million contract modification, intended to fund completion of the Phase 3 development of
i.v. peramivir for the treatment of patients hospitalized with influenza. That contract modification brought the total contract
award from BARDA/HHS to $234.8 million and provided funding to support the filing of an NDA to seek regulatory approval for i.v.
peramivir in the U.S. In December 2014, the FDA approved the NDA. The BARDA/HHS contract expired on June 30, 2014 according to
its terms.</P>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">On March 31, 2015, we announced that BARDA/HHS awarded us a contract
for the continued development of galidesivir as a potential treatment for diseases caused by RNA pathogens, including filoviruses.&nbsp;This
BARDA/HHS contract has a potential value of $39.1 million if all contract options are exercised. As of December 31, 2017, a total
of $20.6 million has been awarded under exercised options within this contract.</p>

<p style="font-size: 10pt; text-indent: 22.3pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"><I><U>National Institute of Allergy and Infectious
Diseases (&ldquo;NIAID/HHS&rdquo;)</U>.</I> In September 2013, NIAID/HHS contracted with us for the development of galidesivir
as a treatment for Marburg, and subsequently, Ebola virus disease. NIAID/HHS, part of the National Institutes of Health, made an
initial award of $5.0 million to us. All options under this contract have been awarded and the total contract value is $39.5 million.
The goals of this contract, including amendments, are to file IND applications for i.v. and i.m. galidesivir for the treatment
of Marburg virus disease and other hemorrhagic fever viruses, to study galidesivir as a treatment for Ebola virus disease, and
to conduct a Phase 1 human clinical trials.</P>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">The contracts with BARDA/HHS and NIAID/HHS
are cost-plus-fixed-fee contracts. That is, we are entitled to receive reimbursement for all costs incurred in accordance with
the contracts provisions that are related to the development of galidesivir plus a fixed fee, or profit. BARDA/HHS and NIAID/HHS
will make periodic assessments of progress and the continuation of the contract is based on our performance, the timeliness and
quality of deliverables, and other factors. The government has rights under certain contract clauses to terminate these contracts.
These contracts are also terminable by the government at any time for breach or without cause.</P>



<p style="font-size: 10pt; text-indent: 22.3pt; margin: 0pt 0">&nbsp;&nbsp;</p>

<p style="font-size: 10pt; text-indent: 22.3pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><i></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"><I><U>Seqirus UK Limited</U>.</I> On June
16, 2015, we and SUL, a limited company organized under the laws of the United Kingdom and a subsidiary of CSL, a company organized
under the laws of Australia, entered into a License Agreement (the &ldquo;SUL Agreement&rdquo;) granting SUL and its affiliates
worldwide rights to develop, manufacture and commercialize peramivir for the treatment of influenza except for the rights to conduct
such activities in Israel, Japan, Korea and Taiwan (the permitted geographies together constituting the &ldquo;Territory&rdquo;).
Peramivir is an intravenous treatment for acute uncomplicated influenza and is currently approved for use in the United States,
Canada, Japan, Taiwan and Korea. RAPIVAB is the first and only intravenous influenza treatment in the world and was originally
approved by the U.S. Food and Drug Administration in December 2014 for the treatment of acute uncomplicated influenza in patients
18 years and older who have been symptomatic for no more than two days. We retain all rights and associated economics to procure
pandemic stockpiling orders for RAPIVAB from the U.S. Government, while SUL has the right to pursue government stockpiling outside
the U.S.&nbsp;<B>&nbsp;</B></P>



<P STYLE="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><I></i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>


<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Pursuant to the SUL Agreement, peramivir is being commercialized by
CSL's subsidiary, SUL, which specializes in influenza prevention through the supply of seasonal and pandemic vaccine to global
markets. SUL is responsible for the manufacture, commercialization and decision-making authority with respect to the development
and commercialization of peramivir within the Territory and is responsible for all related costs, including sales and promotion.
We exercise sole decision-making authority with regard to the development and commercialization of peramivir outside of the Territory
and are responsible for all associated costs.&nbsp;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Under the terms of the SUL Agreement, we are responsible for fulfilling
all post-marketing approval commitments in connection with the FDA's approval of the NDA, and upon fulfillment will transfer ownership
of and financial responsibility for the NDA to SUL. Pursuant to potential rights to sell ALPIVAB in the EU, we are also responsible
for regulatory filings and interactions with the European Medicines Agency until marketing approval for ALPIVAB is obtained and
assigned to SUL. In accordance with the SUL Agreement, we and SUL formed a joint steering committee, composed of an equal number
of representatives from each party, to oversee, review and coordinate the conduct and progress of the commercialization of peramivir
in the Territory and any additional development.&nbsp;The parties have entered into the formal dispute resolution process under
the License Agreement to resolve decisions related to the collaboration.</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>




<p style="font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Under the terms of the SUL Agreement, we received an upfront payment
of $33.7 million, have received $7.0 million of milestone payments and may receive an additional $5.0 million milestone payment
related to the successful marketing approval by the EMA for an adult indication in the EU. We are also entitled under the SUL Agreement
to receive tiered royalties at a percentage rate beginning in the mid-teens contingent upon meeting minimum thresholds of net sales,
as well as a low-thirties percentage of the gross profit from government stockpiling purchases made outside the U.S. Specifically,
we receive tiered royalties at a percentage rate in the mid-teens to low-forties on net sales in the U.S. during a Contract Year
(defined as July 1 - June 30) and tiered royalties at a percentage rate in the mid-teens to mid-twenties on net sales in the Territory,
other than in the U.S., during a Calendar Year, each subject to certain downward adjustments for circumstance or events impacting
the overall market opportunity. SUL's royalty payment obligations commence on the date of the SUL Agreement and expire, on a country-by-country
basis, upon the later of (i) the expiration of legal exclusivity in such country and (ii) ten years from the date of the SUL Agreement
(the "Royalty Term"). We developed RAPIVAB under a license from UAB and will owe sublicense payments to them on any future
milestone payments and/or royalties received by us from SUL.</p>

<p style="font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The term of the SUL Agreement shall continue on a country-by-country
basis until the expiration of the last-to-expire Royalty Term in any such country in the Territory. Either party may terminate
the SUL Agreement in its entirety if the other party breaches a payment obligation, otherwise materially breaches the SUL Agreement,
subject to applicable cure periods, or if the other party suffers an insolvency event. We may also terminate the SUL Agreement
if SUL or any of its affiliates seek to challenge the validity of our patents. Termination does not affect a party's rights which
have accrued prior thereto, but there are no stated payments in connection with termination other than payments of obligations
previously accrued. For all terminations exercised by us, the SUL Agreement provides for the termination of any sublicenses granted
by SUL to third parties, and in the case of termination by us for cause, the ceasing of SUL's activities with respect to RAPIVAB,
the discontinued use of all of our intellectual property and the termination of licenses and rights previously granted to SUL.
If requested by us, SUL shall also promptly sell to us all licensed product it then holds in stock, otherwise, SUL may continue
to sell such licensed product for designated periods.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><i><u>Shionogi&nbsp;&amp; Co., Ltd. (&#8220;Shionogi&#8221;)</u>.</i>
On February&nbsp;28, 2007, we entered into a License, Development and Commercialization Agreement (as amended, supplemented or
otherwise modified, the &#8220;Shionogi Agreement&#8221;), an exclusive license agreement with Shionogi to develop and commercialize
peramivir in Japan for the treatment of seasonal and potentially life-threatening human influenza. In October 2008, we and Shionogi
amended the Shionogi Agreement to expand the territory covered by the agreement to include Taiwan. Under the terms of the Shionogi
Agreement, Shionogi obtained rights to injectable formulations of peramivir in Japan in exchange for a $14.0&nbsp;million upfront
payment. The license provided for development milestone payments (up to $21.0&nbsp;million), which have all been paid, and for
commercial milestone payments (up to $95.0&nbsp;million) in addition to double-digit (between 10% and 20%) royalty payments on
product sales of peramivir.</p>

<p style="font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In December 2017, we, on behalf of Royalty Sub (defined below), instituted
arbitration proceedings against Shionogi in order to resolve&nbsp;a dispute with Shionogi under the Shionogi Agreement regarding
the achievement of sales milestones and escalating royalties.&nbsp;In the event that we prevail in the arbitration, any amounts
realized in the arbitration or in respect of the milestone payments and escalating royalties that are the subject of the arbitration
would be for the benefit of Royalty Sub and be used by Royalty Sub to service its obligations under the non-recourse PhaRMA Notes
(defined below), except for any amounts realized by us in respect of royalties relating to sales to Japanese governmental entities,
which amounts would be retained by us. The costs associated with the arbitration proceedings are expected to be paid out of the
assets of Royalty Sub in accordance with the terms of the indenture and servicing agreement relating to the PhaRMA Notes, except
to the extent such costs are recovered in connection with any arbitration award in favor of us and Royalty Sub if they prevail
in the arbitration proceedings. Arbitration proceedings, like other legal proceedings, are inherently uncertain. As a result, we
cannot assure you that we will prevail in the arbitration. As any arbitration award in favor of us would accrue primarily to the
benefit of Royalty Sub and the holders of the PhaRMA Notes, and because the costs associated with the arbitration proceedings are
expected to come out of the assets of Royalty Sub if not recovered as part of any arbitration award in favor of us and Royalty
Sub, we do not currently anticipate that these arbitration proceedings will have a material adverse impact on us.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&nbsp;</p>



<p style="font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

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<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Generally, all payments under the Shionogi Agreement are non-refundable
and non-creditable, but they are subject to audit. Shionogi is responsible for all development, regulatory, and marketing costs
in Japan. The term of the Shionogi Agreement is from February&nbsp;28, 2007 until terminated. Either party may terminate in the
event of an uncured breach. Shionogi has the right of termination without cause. In the event of termination, all license and rights
granted to Shionogi shall terminate and shall revert back to us. We developed peramivir under a license from the University of
Alabama Birmingham (&#8220;UAB&#8221;) and have paid sublicense payments to UAB on the upfront payments and will owe sublicense
payments on any future event payments and/or royalties received by us from Shionogi.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><i><u>Shionogi Royalty Monetization and Non-Recourse Notes Payable</u></i>.
On March&nbsp;9, 2011, we completed a $30.0 million&nbsp;financing transaction to monetize certain future royalty and milestone
payments under the Shionogi Agreement, pursuant to which JPR Royalty Sub LLC (&#8220;Royalty Sub&#8221;) a wholly-owned subsidiary
of BioCryst, issued the PhaRMA Notes discussed below. We received net proceeds of $22.7 million&nbsp;from this transaction.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">As part of the transaction, we entered into a purchase and sale agreement
dated as of March&nbsp;9, 2011 with Royalty Sub, whereby we transferred to Royalty Sub, among other things, (i)&nbsp;its rights
to receive certain royalty and milestone payments from Shionogi arising under the Shionogi Agreement, and (ii)&nbsp;the right to
receive payments under a Japanese yen/US dollar foreign currency hedge arrangement (as further described below, the &#8220;Currency
Hedge Agreement&#8221;) put into place by us in connection with the transaction. Royalty payments will be paid by Shionogi in Japanese
yen and milestone payments will be paid in U.S. dollars. Our collaboration with Shionogi was not impacted by this transaction.</p>

<p style="font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">On March 9, 2011, Royalty Sub completed a private placement to institutional
investors of $30.0 million in aggregate principal amount of its PhaRMA Senior Secured 14.0% Notes due 2020 (the &#8220;PhaRMA Notes&#8221;).
The PhaRMA Notes were issued by Royalty Sub under an Indenture, dated as of March&nbsp;9, 2011 (the &#8220;Indenture&#8221;), by
and between Royalty Sub and U.S. Bank National Association, as Trustee. Principal and interest on the PhaRMA Notes issued are payable
from, and are secured by, the rights to royalty and milestone payments under the Shionogi Agreement transferred by us to Royalty
Sub and payments, if any, made to Royalty Sub under the Currency Hedge Agreement. The PhaRMA Notes bear interest at 14%&nbsp;per
annum, payable annually in arrears on September&nbsp;1st of each year (the &#8220;Payment Date&#8221;). We remain entitled to receive
any royalties and milestone payments related to sales of peramivir by Shionogi following repayment by Royalty Sub of the PhaRMA
Notes.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Royalty Sub&#8217;s obligations to pay principal and interest on the
PhaRMA Notes are obligations solely of Royalty Sub and are without recourse to any other person, including the Company, except
to the extent of our pledge of its equity interests in Royalty Sub in support of the PhaRMA Notes. We may, but are not obligated
to, make capital contributions to a capital account that may be used to redeem, or on up to one occasion pay any interest shortfall
on, the PhaRMA Notes.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In September&nbsp;2014, Royalty Sub was unable to pay the full amount
of interest payable in September&nbsp;2013 by the next succeeding Payment Date for the PhaRMA Notes. This inability constituted
an event of default under the terms of the Indenture. Accordingly, we have classified the PhaRMA Notes and related accrued interest
as current liabilities on our balance sheet. As a result of the event of default under the PhaRMA Notes, the holders of the PhaRMA
Notes may pursue acceleration of the PhaRMA Notes, may foreclose on the collateral securing the PhaRMA Notes and the equity interest
in Royalty Sub and exercise other remedies available to them under the Indenture in respect of the PhaRMA Notes. In such event,
we may not realize the benefit of future royalty payments that might otherwise accrue to us following repayment of the PhaRMA Notes
and we might otherwise be adversely affected. Due to the non-recourse nature of the PhaRMA Notes, in the event of any potential
acceleration or foreclosure, we believe the primary impact to us would be the loss of future royalty payments from Shionogi and
legal costs associated with retiring the PhaRMA Notes. In addition, we may incur costs associated with liquidating the related
Currency Hedge Agreement, which would no longer be required in the event of foreclosure or if the PhaRMA Notes cease to be outstanding.
As the PhaRMA Notes are the obligation of Royalty Sub, we do not currently expect the event of default on the PhaRMA Notes to have
a significant impact on our future results of operations or cash flows. As of December 31, 2017, the PhaRMA Notes remain in default.</p>



<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>



<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Indenture does not contain any financial covenants. The Indenture
includes customary representations and warranties of Royalty Sub, affirmative and negative covenants of Royalty Sub, Events of
Default and related remedies, and provisions regarding the duties of the Trustee, indemnification of the Trustee, and other matters
typical for indentures used in structured financings of this type. The PhaRMA Notes are redeemable at the option of Royalty Sub
at any time at a redemption price equal to 100% of the outstanding principal balance of the PhaRMA Notes being redeemed, plus accrued
and unpaid interest through the redemption date on the PhaRMA Notes being redeemed.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><i><u>Foreign Currency Hedge</u>.</i> In connection with the issuance
by Royalty Sub of the PhaRMA Notes, we entered into a Currency Hedge Agreement to hedge certain risks associated with changes in
the value of the Japanese yen relative to the U.S. dollar. Under the Currency Hedge Agreement, we have the right to purchase dollars
and sell yen at a rate of 100 yen per dollar for which we may be required to pay a premium in each year from 2018 through 2020.
A payment of $2.0 million&nbsp;will be required if, on May&nbsp;18 of the relevant year, the U.S. dollar is worth 100 yen or less,
as determined in accordance with the Currency Hedge Agreement.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;&nbsp;</p>

<p style="font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">The Currency Hedge Agreement does not qualify
for hedge accounting treatment; therefore, mark-to-market adjustments are recognized in our Consolidated Statement of Comprehensive
Loss. Cumulative mark-to-market adjustments resulted in losses of $1.8 million, $1.7 million and $0.6 million for the twelve months
ended December&nbsp;30, 2017, 2016, and 2015, respectively. In addition, realized currency exchange gains of $1.0 million, $0.8
million and $1.7 million were recognized in 2017, 2016 and 2015, respectively, related to the exercise of a U.S. dollar/Japanese
yen currency option under our foreign currency hedge. We are also required to post collateral in connection with the mark-to-market
adjustments based on defined thresholds. As of December 31, 2017, no collateral was posted under the Currency Hedge Agreement.
We will not be required at any time to post collateral exceeding the maximum premium payments remaining payable under the Currency
Hedge Agreement. The maximum amount of hedge collateral we would be required to post is $5.9 million. We are required to maintain
a foreign currency hedge at 100 yen per dollar under the agreements governing the PhaRMA Notes.</p>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;&nbsp;</p>

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<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><i></i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"><i><u>Green Cross</u>.</i> In June 2006,
we entered into an agreement with Green Cross to develop and commercialize peramivir in Korea. Under the terms of the agreement,
Green Cross is responsible for all development, regulatory, and commercialization costs in Korea. We received a one-time license
fee of $250,000. The license provides that we will share in profits resulting from the sale of peramivir in Korea, including the
sale of peramivir to the Korean government for stockpiling purposes. Furthermore, Green Cross will pay us a premium over its cost
to supply peramivir for development and any future marketing of peramivir products in Korea. Both parties have the right to terminate
in the event of an uncured material breach. In the event of termination, all rights, data, materials, products and other information
would be transferred to us.</p>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In August 2010, we announced that Green Cross had received marketing
and manufacturing approval from the Korean Food&nbsp;&amp; Drug Administration for i.v. peramivir, under the commercial name PERAMIFLU<sup>&#174;</sup>.
PERAMIFLU is intended to treat patients with influenza A&nbsp;&amp; B viruses, including pandemic H1N1 and avian influenza. Green
Cross received the indication of single dose administration of 300&nbsp;mg i.v. peramivir.</p>

<p style="font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><i><u>Other Peramivir Collaborations</u>.</i> In addition to our collaborations
with Shionogi and Green Cross, in March 2011 we entered into an arrangement with Neopharm Scientific Limited, granting certain
commercial and distribution rights for peramivir in Israel.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><i></i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><i><u>Mundipharma</u>.</i> In February 2006, we entered into an exclusive,
royalty bearing right and license agreement with Mundipharma for the development and commercialization of Mundesine, a PNP inhibitor,
for use in oncology (the &#8220;Original Agreement&#8221;). Under the terms of the Original Agreement, Mundipharma obtained rights
to Mundesine in markets across Europe, Asia, and Australasia in exchange for a $10.0&nbsp;million up-front payment. In addition,
Mundipharma contributed $10.0&nbsp;million of the documented out-of-pocket development costs incurred by us in respect of the current
and planned trials as of the effective date of the agreement, and Mundipharma would conduct additional clinical trials at their
own cost up to a maximum of $15.0&nbsp;million.</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">On November&nbsp;11, 2011, we entered into the Amended and Restated
Agreement with Mundipharma (the &#8220;Amended and Restated Agreement&#8221;). Under the terms of this Amended and Restated Agreement,
Mundipharma obtained worldwide rights to Mundesine in the field of oncology. Mundipharma will control the development and commercialization
of Mundesine and assume all future development and commercialization costs. The Amended and Restated Agreement provides for the
possibility of future event payments totaling $15.0&nbsp;million for achieving specified regulatory events for certain indications.
In addition, the Amended and Restated Agreement provides that we will receive tiered royalties ranging from mid- to high-single
digit percentages of net product sales in each country where Mundesine is sold by Mundipharma. These royalties are subject to downward
adjustments based on the then-existing patent coverage and/or the availability of generic compounds in each country. Generally,
all payments under the Amended and Restated Agreement are nonrefundable and non-creditable, but they are subject to audit. We licensed
forodesine and other PNP inhibitors from AECOM/IRL and will owe sublicense payments to AECOM/IRL on all milestone payments and
royalties received by us from Mundipharma.</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>




<p style="font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Mundipharma will also have a right of exclusive negotiations with
us for a limited period of time if they initiate negotiations for a specified backup PNP inhibitor. Otherwise, they will be able
to participate in the same negotiations process we enter into with another company for the backup PNP inhibitor. The Amended and
Restated Agreement will continue for the commercial life of the licensed products, but may be terminated by either party following
an uncured material breach by the other party or in the event the pre-existing third party license with AECOM/IRL expires. It may
be terminated by Mundipharma upon 60&nbsp;days written notice without cause or under certain other conditions as specified in the
Amended and Restated Agreement. If Mundipharma terminates the Amended and Restated Agreement, Mundipharma would no longer have
any rights in Mundesine and the rights would revert back to us; provided, however, that in the event the we determine to subsequently
use the data developed under the Amended and Restated Agreement for development and commercialization of Mundesine in the field
of oncology, then we would have to pay Mundipharma 150% of the cost of such data for such use.</p>



<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>



<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><i><u>Albert Einstein College of Medicine of Yeshiva University and
Industrial Research, Ltd. (&#8220;AECOM&#8221; and &#8220;IRL&#8221; respectively)</u>.&nbsp;</i> In June 2000, we licensed a series
of potent inhibitors of PNP from AECOM and IRL, (collectively, the &#8220;Licensors&#8221;). The lead product candidate from this
collaboration is forodesine. We have obtained worldwide exclusive rights to develop and ultimately distribute it, or any other,
product candidates that might arise from research on these inhibitors. We have the option to expand our license agreement with
the Licensors to include other inventions in the field made by the investigators or employees of the Licensors. We agreed to use
commercially reasonable efforts to develop these drugs. In addition, we have agreed to pay certain milestone payments for each
licensed product (which range in the aggregate from $1.4 million to almost $4.0 million&nbsp;per indication) for future development
of these inhibitors, single digit royalties on net sales of any resulting product made by us, and to share approximately one quarter
of future payments received from other third-party partners, if any. In addition, we have agreed to pay annual license fees, which
can range from $150,000 to $500,000, that are creditable against actual royalties and other payments due to the Licensors. This
agreement may be terminated by us at any time by giving 60&nbsp;days advance notice or in the event of material uncured breach
by the Licensors.</p>

<p style="font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In May 2010, we amended the license agreement through which we obtained
worldwide exclusive rights to develop and ultimately distribute any product candidates that might arise from research on a series
of PNP inhibitors, including forodesine. Under the terms of the amendment, the Licensors agreed to accept a reduction of one-half
in the percentage of future payments received from third-party sub licensees of the licensed PNP inhibitors that must be paid to
the Licensors. This reduction does not apply to (i)&nbsp;any milestone payments we may receive in the future under our license
agreement with Mundipharma and (ii)&nbsp;royalties received from its sub licensees in connection with the sale of licensed products,
for which the original payment rate will remain in effect. The rate of royalty payments to the Licensors based on net sales of
any resulting product made by us remains unchanged. At our sole option and subject to certain agreed upon conditions, any future
non-royalty payments due to be paid by us to the Licensors under the license agreement may be made either in cash, in shares of
our common stock, or in a combination of cash and shares.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">On November&nbsp;17, 2011, we further amended our agreements with
the Licensors whereby the Licensors agreed to accept a reduction of one-half in the percentage of Net Proceeds (as defined in the
license agreement) received by us under our Amended and Restated Agreement with Mundipharma that will be paid to AECOM/IRL. &nbsp;&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">On June&nbsp;19, 2012, we further amended our agreements with the
Licensors whereby the parties clarified the definition of the field with respect to PNP inhibition and the Licensors agreed to
grant an exclusive worldwide license of galidesivir to us for any antiviral use.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><i><u>The University of Alabama at Birmingham (&#8220;UAB&#8221;)</u>.</i>
We currently have agreements with UAB for influenza neuraminidase and complement inhibitors. Under the terms of these agreements,
UAB performed specific research for us in return for research payments and license fees. UAB has granted us certain rights to any
discoveries in these areas resulting from research developed by UAB or jointly developed with us. We have agreed to pay single
digit royalties on sales of any resulting product and to share in future payments received from other third-party partners. We
have completed the research under the UAB agreements. These two agreements have initial 25-year terms, are automatically renewable
for five-year terms throughout the life of the last patent and are terminable by us upon three months&#8217; notice and by UAB
under certain circumstances. Upon termination both parties shall cease using the other parties&#8217; proprietary and confidential
information and materials, the parties shall jointly own joint inventions and UAB shall resume full ownership of all UAB licensed
products. There is currently no activity between us and UAB on these agreements, but when we license this technology, such as in
the case of the Shionogi and Green Cross agreements, or commercialize products related to these programs, we will owe sublicense
fees or royalties on amounts it receives.</p>

<p style="font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Government Contracts</b></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>


<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><i><u>National Institute of Allergy and Infectious Diseases (&#8220;NIAID/HHS&#8221;)</u>.</i>
In September 2013, NIAID/HHS contracted with us for the development of galidesivir as a treatment for Marburg, and subsequently,
Ebola virus disease. NIAID/HHS, part of the National Institutes of Health, made an initial award of $5.0 million to us. All options
under this contract have been awarded and the total contract value is $39.5 million. The goals of this contract, including amendments,
are to file IND applications for i.v. and i.m. galidesivir for the treatment of Marburg virus disease and other hemorrhagic fever
viruses, to study galidesivir as a treatment for Ebola virus disease and to conduct a Phase 1 human clinical trial.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"><i><u>U.S.&nbsp;Department of Health and
Human Services (&#8220;BARDA/HHS&#8221;)</u>. </i>On March 31, 2015, we announced that BARDA/HHS awarded us a contract for the
continued development of galidesivir as a potential treatment for diseases caused by RNA pathogens, including filoviruses.&nbsp;This
BARDA/HHS contract has a potential value of $39.1 million if all contract options are exercised. As of December 31, 2017, a total
of $20.6 million has been awarded under exercised options within this contract.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The contracts with NIAID/HHS and BARDA/HHS are cost-plus-fixed-fee
contracts. That is, we are entitled to receive reimbursement for all costs incurred in accordance with the contracts provisions
that are related to the development of peramivir and galidesivir plus a fixed fee, or profit. NIAID/HHS and BARDA/HHS will make
periodic assessments of progress and the continuation of the contract is based on our performance, the timeliness and quality of
deliverables, and other factors. The government has rights under certain contract clauses to terminate these contracts. These contracts
are also terminable by the government at any time for breach or without cause.</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>



<p style="font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0">&nbsp;&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Patents and Proprietary Information</b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Our success will depend in part on our ability to obtain and enforce
patent protection for our products, methods, processes and other proprietary technologies, preserve our trade secrets, and operate
without infringing on the proprietary rights of other parties, both in the United States and in other countries. We own or have
rights to certain proprietary information, proprietary technology, issued and allowed patents and patent applications which relate
to compounds we are developing. We actively seek, when appropriate, protection for our products, proprietary technology and proprietary
information by means of U.S.&nbsp;and foreign patents, trademarks and contractual arrangements. In addition, we rely upon trade
secrets and contractual arrangements to protect certain of our proprietary information, proprietary technology and products.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The patent positions of companies like ours are generally uncertain
and involve complex legal and factual questions. Our ability to maintain and solidify our proprietary position for our technology
will depend on our success in obtaining effective patent claims and enforcing those claims once granted. We do not know whether
any of our patent applications or those patent applications that we license will result in the issuance of any patents. Our issued
patents and those that may issue in the future, or those licensed to us, may be challenged, invalidated, rendered unenforceable
or circumvented, which could limit our ability to stop competitors from marketing related products or the length of term of patent
protection that we may have for our products. In addition, the rights granted under any issued patents may not provide us with
competitive advantages against competitors with similar compounds or technology. Furthermore, our competitors may independently
develop similar technologies or duplicate any technology developed by us in a manner that does not infringe our patents or other
intellectual property. Because of the extensive time required for development, testing and regulatory review of a potential product,
it is possible that, before any of our product candidates or those developed by our partners can be commercialized, any related
patent may expire or remain in force for only a short period following commercialization, thereby reducing any advantage of the
patent.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">As of December&nbsp;31, 2017, we have been issued approximately 16
U.S.&nbsp;patents that expire between 2018 and 2034 and that relate to our HAE program compounds, neuraminidase inhibitor compounds,
BSAV compounds and PNP compounds. We have licensed a number of compounds protected by certain composition of matter patents from
AECOM and IRL, plus additional manufacturing patents, totaling 7 additional U.S. patents that expire between 2020 and 2029. Additionally,
we have approximately 11 Patent Cooperation Treaty or U.S.&nbsp;patent applications pending related to HAE program compounds, neuraminidase
inhibitor compounds, BSAV compounds, PNP compounds and FOP program compounds. Our pending applications may not result in issued
patents, our patents may not cover the products of interest or may not be enforceable in all, or any jurisdictions and our patents
may not provide us with sufficient protection against competitive products or otherwise be commercially viable. After expiration
of composition of matter patents for our products and product candidates, we may rely on data exclusivity, or in some cases, method
of use patents. The enforceability of these patents varies from jurisdiction to jurisdiction and may not be allowed or enforceable
in some territories where we may seek approval. We may not have the funds to continue patent prosecution or to defend all of our
existing patents in our current patent estate and may selectively abandon patents or patent families worldwide or in certain territories.</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Our success is also dependent upon the skills, knowledge and experience
of our scientific and technical personnel, none of which is patentable. To help protect our rights, we require all employees, consultants,
advisors and partners to enter into confidentiality agreements, which prohibit the disclosure of confidential information to anyone
outside of BioCryst and, where possible, require disclosure and assignment to us of their ideas, developments, discoveries and
inventions. These agreements may not provide adequate protection for our trade secrets, know-how or other proprietary information
in the event of any unauthorized use or disclosure or the lawful development by others of such information. <b>&nbsp;</b></p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Competition</b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The pharmaceutical and biotechnology industries are intensely competitive.
Many companies, including biotechnology, chemical and pharmaceutical companies, are actively engaged in activities similar to ours,
including research, development, and commercialization of drugs for the treatment of rare medical conditions. Many of these companies
have substantially greater financial and other resources, larger research and development staffs, and more extensive commercial
and manufacturing organizations than we do. In addition, many have considerable experience in preclinical testing, clinical trials
and other regulatory approval procedures. In addition, there are also academic institutions, governmental agencies and other research
organizations who conduct research in areas in which we are working. We expect to encounter significant competition for any of
the pharmaceutical products we plan to develop. Companies that successfully complete clinical trials, obtain required regulatory
approvals and commence commercial marketing and sales of their products may achieve a significant competitive advantage.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><i><u>Antivirals</u>:</i> The pharmaceutical market for products that
prevent or treat influenza is very competitive. Key competitive factors for RAPIVAB (peramivir injection) include, among others,
efficacy, ease of use, safety, price and cost-effectiveness, storage and handling requirements and reimbursement. A number of neuraminidase
inhibitors are currently available in the U.S.&nbsp;and/or other counties, including Japan, for the prevention or treatment of
influenza, including seasonal flu vaccines and F. Hoffmann-La Roche Ltd.&#8217;s (&#8220;Roche&#8221;) TAMIFLU<sup>&#174;</sup>
(oseltamivir), generic oseltamivir, GlaxoSmithKline plc&#8217;s (&#8220;GSK&#8221;) RELENZA<sup>&#174;</sup> and Daiichi Sankyo
Co., Ltd.&#8217;s INAVIR<sup>&#174;</sup>. In addition, FUJIFILM Corporation&#8217;s favipiravir, a polymerase inhibitor, is approved
in Japan. Roche&#8217;s neuraminidase inhibitor is also approved for prophylaxis of influenza.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In addition to these companies with neuraminidase inhibitors, there
are other companies working to develop additional antiviral drugs to be used against various strains of influenza. Currently, there
are a number of other companies developing potential new influenza therapies. Various government entities throughout the world
are offering incentives, grants and contracts to encourage additional investment into preventative and therapeutic agents against
influenza, which may have the effect of further increasing the number of our competitors and/or providing advantages to certain
competitors.</p>



<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">Galidesivir is a product candidate in our
BSAV research program and is currently being developed under contracts with NIAID/HHS and BARDA/HHS. The objective of our BSAV
program is to develop galidesivir as a broad-spectrum therapeutic for viruses that pose a threat to national health and security.
The U.S. Government is investing in a number of programs intended to address gaps in its medical countermeasure plan. Therapeutic
products with potentially promising data to treat Ebola include FUJIFILM Corporation&rsquo;s favipiravir (polymerase inhibitor)
and Mapp Biopharmaceutical, Inc.&rsquo;s ZMapp (antibody-based). ZMapp has been used in Ebola patients. Gilead Sciences, Inc announced
in October 2015 that it had provided the investigational compound, GS-5734, to two patients with Ebola for compassionate use.</P>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><i><u>HAE</u>:</i> HAE is an autosomal dominant disease characterized
by painful, unpredictable, recurrent attacks of inflammation affecting the hands, feet, face, abdomen, urogenital tract, and the
larynx. The inflammation can be disfiguring, debilitating, or in the case of laryngeal attacks, life-threatening. Prevalence for
HAE is uncertain but is estimated to be approximately 1 case per 50,000 persons without known differences among ethnic groups and
is caused by deficient (Type I) or dysfunctional (Type II) levels of C1-Inhibitor (&#8220;C1-INH&#8221;), a naturally occurring
molecule that is known to inhibit kallikrein, bradykinin, and other serine proteases in the blood. If left untreated, HAE can result
in a mortality rate as high as 40% primarily due to upper airway obstruction. There are a number of licensed therapies for HAE,
including the following:</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 7%">&nbsp;</td>
    <td style="width: 3%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="width: 90%"><font style="font-size: 10pt">C1-INH therapy is available as an acute therapy (Berinert<sup>&#174;</sup>) and as a prophylactic therapy (Haegarda<sup>&#174;</sup> and Cinryze<sup>&#174;</sup>). These therapies are available subcutaneously and intravenously and work by replacing the missing or malfunctioning C1-INH protein in patients. Recominant C1-INH (Ruconest<sup>&#174;</sup>) is also available as an acute therapy.</font></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">Kallikrein Inhibition <b>-</b> Kalbitor<sup>&#174;</sup> (ecallantide) is a specific recombinant plasma kallikrein inhibitor that halts the production of bradykinin and can be dosed subcutaneously in an inpatient setting.</font></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">Bradykinin receptor antagonist <b>-</b> Firazyr<sup>&#174;</sup> (icatibant) is a competitive antagonist of the bradykinin B2 receptor. Firazyr is approved for the treatment of acute attacks and is administered by subcutaneous administration.</font></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">Other medications - Prophylactic administration of synthetic attenuated androgens (generically available as danazol or stanozolol) has been utilized to reduce the frequency or severity of attacks. However, long-term use of danazol or stanozolol may result in virilization and arterial hypertension. Six-month liver function tests, annual lipid profiles, and biennial hepatic ultrasound are recommended because these medications increase production of C1-INH in the liver.</font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"><FONT STYLE="font-size: 10pt">In addition
to BCX7353 there are a number of other HAE therapies in clinical development. These include SHP616, a prophylactic plasma derived
C1-INH delivered by subcutaneous injection developed by Shire Plc (&ldquo;Shire&rdquo;), with positive top line Phase 3 pivotal
data presented in September 2017; lanadelumab (SHP643, DX2930), a monoclonal antibody administered by subcutaneous injection for
prophylactic treatment of HAE developed by Shire, which has completed Phase 3 trials and has been submitted to the FDA for review;
Ruconest, developed by Pharming Group N.A. for routine prophylaxis of HAE, for which the FDA has accepted review of a Supplemental
Biologics License Application (&ldquo;sBLA&rdquo;) with an anticipated action date of September 21, 2018; two oral kallikrein inhibitors
being developed by Kalvista Pharmaceuticals, Inc. that have entered Phase 1 trials; and oral kallikrein inhibitors in preclinical
development by Attune Pharmaceuticals, Inc. and Verseon Corporation. CSL&rsquo;s CSL312, an anti factor mAb (monoclonal antibody),
completed Phase 1 trials in November 2017 and is expected to start Phase 2 trials in 2018 in HAE patients.&nbsp;Ionis&rsquo;s IONISPKKrx,
a RNA-targeted antisense drug to inhibit prekallikrein for prophylactic treatment of HAE, is currently in in Phase 1 trials with
an anticipated completion date in June 2018. Adverum Biotechnologies, Inc.&rsquo;s ADVM-053, an AAV (adeno-associated virus)</FONT><FONT STYLE="color: #545454; background-color: white">&nbsp;</FONT><FONT STYLE="font-size: 10pt">expressing
C1-esterase inhibitor, is expected to file an IND in the second half of 2018. Additionally, Arrowhead Pharmaceuticals, Inc. is
in early development of ARO-F12, an RNAi (RNA interference) in early development for the treatment of HAE and thromboembolic disorders.
</FONT></P>






<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><i><u></u></i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"><i><u>FOP:</u></i> FOP is a rare, severely
disabling condition characterized by the irregular formation of bone outside the normal skeleton, also known as heterotopic ossification
(&ldquo;HO&rdquo;). HO can occur in muscles, tendons and soft tissue. FOP patients progressively become bound by this irregular ossification,
with restricted movement and fused joints, resulting in deformities and premature mortality. There are currently no approved treatments
for FOP.</p>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">Other FOP therapies in clinical development
include Clementia Pharmaceuticals Inc.&rsquo;s palovarotene, an oral, retinoic acid gamma receptor agonist, currently in Phase
3 trials (initiated December 2017); Regeneron Pharmaceuticals Inc.&rsquo;s REGN2477, an i.v. anti-activin antibody in Phase 2 trials
(initiated November 2017); and several companies with programs in pre-clinical development, including Blueprint Medicines Corporation,
with its oral ALK2 kinase inhibitor, La Jolla Pharmaceutical Company, with three compounds (two ALK2 inhibitors and LJPC-6417,
a bone morphogenetic protein receptor type I antagonist), and Daiichi-Sankyo Co., Ltd, which is collaborating with Saitama Medical
University on an ALK2 inhibitor funded by Japan Agency for Medical Research.</P>






<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In order to compete successfully in these and other therapeutic areas,
we must develop proprietary positions in patented drugs for therapeutic markets that have not been satisfactorily addressed by
conventional research strategies and, in the process, expand our expertise in structure-based drug design. Our product candidates,
even if successfully tested and developed, may not be adopted by physicians over other products and may not offer economically
feasible alternatives to other therapies.</p>

<p style="font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Research and Development</b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">We initiated our research and development
activities in 1986. We have assembled a scientific research staff with expertise in a broad base of advanced research technologies
including protein biochemistry, X-ray crystallography, chemistry and pharmacology. Our research facilities, located in Birmingham,
Alabama, include protein biochemistry and organic synthesis laboratories, testing facilities, X-ray crystallography, computer and
graphics equipment and facilities to make product candidates on a small scale for early stage clinical trials. During the years
ended December 31, 2017, 2016 and 2015, our research and development expenses were $67.0 million, $61.0 million, and $72.8 million
respectively.</P>






<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Compliance</b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We conduct our business in an ethical, fair, honest and lawful manner.
We act responsibly, respectfully and with integrity in our relationships with patients, health care professionals, collaborators,
governments, regulatory entities, stockholders, suppliers and vendors.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In order to ensure compliance with applicable laws and regulations,
our Chief Financial Officer, General Counsel and Vice President of Human Resources oversee compliance training, education, auditing
and monitoring; enforce disciplinary guidelines for any infractions of our corporate polices; implement new policies and procedures;
respond to any detected issues; and undertake corrective action procedures. Our controls address compliance with laws and regulations
that govern public pharmaceutical companies including, but not limited to, the following: federal and state law, such as the Sarbanes-Oxley
Act of 2002 and the U.S. Foreign Corrupt Practices Act of 1977; NASDAQ listing requirements; the regulations of the Financial Industry
Regulatory Authority; the Securities and Exchange Commission (&#8220;SEC&#8221;); the FDA; and the United States Department of
Health and Human Services. Our standard operating procedures are designed to provide a framework for corporate governance in accordance
with ethical standards and best legal practices.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Government Regulation</b></p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The FDA regulates the pharmaceutical and biotechnology industries
in the U.S., and our product candidates are subject to extensive and rigorous domestic government regulations prior to commercialization.
The FDA regulates, among other things, the development, testing, manufacture, safety, efficacy, record-keeping, labeling, storage,
approval, advertising, promotion, sale and distribution of pharmaceutical products. In foreign countries, our products are also
subject to extensive regulation by foreign governments. These government regulations will be a significant factor in the production
and marketing of any pharmaceutical products that we develop. Failure to comply with applicable FDA and other regulatory requirements
at any stage during the regulatory process may subject us to sanctions, including:</p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="width: 5%">&nbsp;</td>
    <td style="vertical-align: top; width: 2%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top; width: 1%">&nbsp;</td>
    <td style="vertical-align: top; width: 92%"><font style="font-size: 10pt">delays;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">warning letters;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">fines;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">product recalls or seizures;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">injunctions;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">penalties;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">refusal of the FDA to review pending market approval applications or supplements to approval applications;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">total or partial suspension of production;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">civil penalties;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">withdrawals of previously approved marketing applications;&nbsp;and</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">criminal prosecutions.</font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The regulatory review and approval process is lengthy, expensive and
uncertain. Before obtaining regulatory approvals for the commercial sale of any products, we or our partners must demonstrate that
our product candidates are safe and effective for use in humans. The approval process takes many years, substantial expenses may
be incurred and significant time may be devoted to clinical development.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Before testing potential product candidates in humans, we carry out
laboratory and animal studies to determine safety and biological activity. After completing preclinical trials, we must file an
IND, including a proposal to begin clinical trials, with the FDA. Thirty days after filing an IND, a Phase 1 human clinical trial
can start, unless the FDA places a hold on the trial.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Clinical trials to support a NDA are typically conducted in three
sequential phases, but the phases may overlap.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Phase 1&#8212;During Phase 1, the initial introduction of the drug
into healthy volunteers, the drug is tested to assess metabolism, pharmacokinetics and pharmacological actions and safety, including
side effects associated with increasing doses.</p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Phase 2&#8212;Phase 2 usually involves trials in a limited patient
population to: (1)&nbsp;assess the efficacy of the drug in specific, targeted indications; (2)&nbsp;assess dosage tolerance and
optimal dosage; and (3)&nbsp;identify possible adverse effects and safety risks.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Phase 3 (pivotal)&#8212;If a compound is found to be potentially effective
and to have an acceptable safety profile in Phase 2 evaluations, Phase 3 clinical trials, also called pivotal studies, major studies
or advanced clinical trials, are undertaken to further demonstrate clinical efficacy and to further test for safety within an expanded
patient population at geographically dispersed clinical trial sites. In general, the FDA requires that at least two adequate and
well-controlled Phase 3 clinical trials be conducted.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Initiation and completion of the clinical trial phases are dependent
on several factors including things that are beyond our control. For example, the clinical trials cannot begin at a particular
site until that site receives approval from its Institutional Review Board (&#8220;IRB&#8221;), which reviews the protocol and
related documents. This process can take from several weeks to several months. In addition, clinical trials are dependent on patient
enrollment, but the rate at which patients enroll in the study depends on:</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="width: 5%">&nbsp;</td>
    <td style="vertical-align: top; width: 2%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top; width: 1%">&nbsp;</td>
    <td style="vertical-align: top; width: 92%"><font style="font-size: 10pt">willingness of investigators to participate in a study;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">ability of clinical sites to obtain approval from their IRB;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">the availability of the required number of eligible subjects to be enrolled in a given trial;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">the availability of existing or other experimental drugs for the disease we intend to treat;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">the willingness of patients to participate;&nbsp;and</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">the patients meeting the eligibility criteria.</font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Delays in planned patient enrollment may result in increased expense
and longer development timelines.</p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">After successful completion of the required clinical testing, generally
an NDA is submitted. Upon receipt of the NDA, the FDA will review the application for completeness. Within 60 days, the FDA will
determine if the application is sufficiently complete to warrant full review and will consider the application &#8220;filed&#8221;
at that time. Also upon receipt of the application, the FDA will assign a review priority to the application. Priority review applications
are usually reviewed within 6 months after the NDA is &#8220;filed&#8221;; standard review applications are usually reviewed within
10 months after the NDA is &#8220;filed&#8221;. The FDA will usually refer NDAs for new molecular entities to an appropriate advisory
committee for review and evaluation in regards to providing a recommendation as to whether the application should be approved.
The FDA is not bound to follow the recommendation of an advisory committee.</p>



<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">Following the review of the application,
which may include requests for additional information from the sponsor and&nbsp;results from inspections of manufacturing and clinical
sites, the FDA will issue an &#8220;action letter&#8221; on the application. The action letter will either be an &#8220;approval
letter,&#8221; in which case the product may be lawfully marketed in the United States, or a &#8220;complete response letter.&#8221;
A complete response letter will state that the FDA cannot approve the NDA in its present form and, usually, will describe all of
the specific deficiencies that the FDA has identified in the application. The complete response letter, when possible, will include
the FDA&#8217;s recommended actions to place the application in a condition for approval. Deficiencies can be minor (e.g., labeling
changes) or major (e.g., requiring additional clinical trials). A complete response letter may also be issued before the FDA conducts
the required facility inspection and/or reviews labeling, leaving the possibility that additional deficiencies in the original
NDA could be subsequently cited. An applicant receiving a complete response letter is permitted to resubmit the NDA addressing
the identified deficiencies (in which case a new two or six-month review cycle will begin), or withdraw the NDA. The FDA may consider
a failure to take action within one year of a complete response letter to be a request to withdraw, unless the applicant has requested
an extension of time in which to resubmit. If the FDA approves an NDA, the marketing of the product will be limited to the particular
disease states and conditions of use that are described in the product label.</p>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We and all of our contract manufacturers are also required to comply
with the applicable FDA current Good Manufacturing Practice, or cGMP, regulations during clinical development and to ensure that
the product can be consistently manufactured to meet the specifications submitted in an NDA. The cGMP regulations include requirements
relating to product quality as well as the corresponding maintenance of records and documentation. Manufacturing facilities must
be approved by the FDA before they can be used to manufacture our products. Based on an inspection, the FDA determines whether
manufacturing facilities are in compliance with applicable regulations. Manufacturing facilities in non-United States countries
that are utilized to manufacture drugs for distribution into the United States are also subject to inspection by the FDA. Additionally,
failure to comply with local regulatory requirements could affect production and availability of product in relevant markets.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Human Resources</b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">As of January&nbsp;31, 2018, we had approximately
85&nbsp;employees, of whom approximately 60 were engaged in the research and development function of our operations. Our research
and development staff, approximately 25 of whom hold Ph.D. or M.D. degrees, have diversified experience in biochemistry, pharmacology,
X-ray crystallography, synthetic organic chemistry, computational chemistry, medicinal chemistry, clinical development and regulatory
affairs.</p>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Our employees are not represented by any collective bargaining agreements,
and we have never experienced a work stoppage. Employees are required to execute confidentiality and assignment of intellectual
property agreements. We consider our relations with our employees to be satisfactory.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Available Information</b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Our website address is www.biocryst.com. We make available, free of
charge, at our website our Annual Reports on Form&nbsp;10-K, Quarterly Reports on Form&nbsp;10-Q, Current Reports on Form&nbsp;8-K,
and amendments to those reports filed or furnished pursuant to Section&nbsp;13(a) or 15(d) of the Exchange Act as soon as reasonably
practicable after we electronically file such material with, or furnish it to, the SEC. We also make available at our website copies
of our audit committee charter, compensation committee charter, corporate governance and nominating committee charter and our code
of business conduct, which applies to all our employees as well as the members of our Board of Directors. Any amendment to, or
waiver from, our code of business conduct will be posted on our website.</p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Financial Information</b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">For information related to our revenues, profits, net loss and total
assets, in addition to other financial information, please refer to the Financial Statements and Notes to Financial Statements
contained in this Annual Report. Financial information about revenues derived from foreign countries is included in Note&nbsp;1
to the Financial Statements contained in this Annual Report.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 10%"><a name="a_002"></a><font style="font-size: 10pt"><b>ITEM 1A.</b></font></td>
    <td style="width: 1%; text-align: justify">&nbsp;</td>
    <td style="width: 89%; text-align: justify"><font style="font-size: 10pt"><b><i>RISK FACTORS</i></b></font></td></tr>
</table>
<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><i>An investment in our stock involves risks. You should carefully
read this entire report and consider the following uncertainties and risks, which may adversely affect our business, financial
condition or results of operations, along with all of the other information included in our other filings with the Securities and
Exchange Commission, before deciding to buy our common stock.</i></p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Risks Relating to the Mergers</B></P>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&nbsp;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"><B><I>Completion of the proposed combination
with Idera is subject to conditions and if these conditions are not satisfied or waived, the Mergers will not be completed.</I></B></P>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>&nbsp;</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt"></p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt">On January 21, 2018, we announced that
we had entered into the Merger Agreement with Idera, Holdco, Merger Sub A and Merger Sub B, pursuant to which (i)&nbsp;Merger Sub
A will be merged with and into Idera, with Idera surviving as a wholly-owned subsidiary of Holdco, and (ii) Merger Sub B will be
merged with and into BioCryst, with BioCryst surviving as a wholly-owned subsidiary of Holdco. The consummation of the Mergers
is subject to customary closing conditions, including (i)&nbsp;the adoption of the Merger Agreement by the affirmative vote of
the holders of a majority of all outstanding shares of our capital stock entitled to vote thereon, (ii)&nbsp;the adoption of the
Merger Agreement by the affirmative vote of the holders of a majority of all outstanding shares of Idera common stock entitled
to vote thereon, (iii)&nbsp;the absence of any adverse law or order promulgated, entered, enforced, enacted or issued by any governmental
entity that prohibits, restrains or makes illegal the consummation of the Mergers, (iv)&nbsp;the shares of Holdco common stock
to be issued in the Mergers being approved for listing on the NASDAQ Global Select Market, (v)&nbsp;the expiration or termination
of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the &ldquo;HSR Act&rdquo;) and other material
government approvals, (vi)&nbsp;the SEC having declared effective the Form&nbsp;S-4 Registration Statement of Holdco that will
contain the joint proxy statement/prospectus of the parties in connection with the Mergers, (vii)&nbsp;subject to certain materiality
exceptions, the accuracy of certain representations and warranties of each of Idera and BioCryst contained in the Merger Agreement
and the compliance by each party with the covenants contained in the Merger Agreement, (viii)&nbsp;the receipt of certain opinions
from legal counsel regarding the intended tax treatment of the Mergers and (ix)&nbsp;the absence of a material adverse effect with
respect to each of Idera and BioCryst. On February 15, 2018, the Federal Trade Commission notified us that our request for early
termination of the waiting period under the HSR Act had been granted.</P>






<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt">&nbsp;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt">The failure to satisfy all of the required
conditions could delay the completion of the Mergers by a significant period of time or prevent it from occurring. Any delay in
completing the Mergers could cause us to not realize some or all of the benefits that we expect to achieve if the Mergers are successfully
completed within the expected timeframe.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt">If we are unable to complete the proposed
Mergers, we may have incurred substantial expense and diverted significant management time and resources from our ongoing business.
In addition, if the Merger Agreement is terminated under certain circumstances specified in the Merger Agreement, we may be required
to pay Idera a termination fee of $25&nbsp;million or a fixed expense reimbursement amount of $6 million. There can be no assurance
that the conditions to closing of the Mergers will be satisfied or waived or that the Mergers will be completed.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"><b><i>Combining Idera and BioCryst may be
more difficult, costly or time consuming than expected and the anticipated benefits and cost savings of the proposed Mergers may
not be realized.</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt">We are operating and, until the completion
of the Mergers, will continue to operate independently of Idera. The success of the Mergers, including anticipated benefits and
cost savings, will depend, in part, on our ability to successfully combine and integrate the businesses. It is possible that the
pendency of the Mergers and/or the integration process could result in the loss of key employees, higher than expected costs, diversion
of management attention, the disruption of our ongoing businesses or inconsistencies in standards, controls, procedures and policies
that adversely affect the combined company&rsquo;s ability to maintain relationships with patients, doctors, vendors and employees
or to achieve the anticipated benefits and cost savings of the Mergers.</P>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">We will incur transaction fees, including
legal, regulatory and other costs associated with closing the transaction, as well as expenses relating to formulating and implementing
integration plans, including facilities and systems consolidation costs and employment-related costs. We continue to assess the
magnitude of these costs, and additional unanticipated costs may be incurred in the Mergers and the integration of the two companies&#8217;
businesses. While we expect that the elimination of duplicative costs as well as the realization of other efficiencies related
to the integration of the businesses should allow us to offset integration-related costs over time, this net benefit may not be
achieved in the near term, at the levels anticipated, or at all. As part of the integration process, we may also attempt to divest
certain assets of the combined company, which may not be possible on favorable terms, or at all, or if successful, may change the
profile of the combined company. If we experience difficulties with the integration process, the anticipated benefits of the Mergers
may not be realized fully or at all, or may take longer to realize than anticipated.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="margin: 0pt 0"><b>Risks Relating to Our Business &nbsp;</b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><b><i>We have incurred losses since our inception, expect to continue to incur
such losses, and may never be profitable.</i></b> &nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Since our inception, we have not achieved sustained profitability.
We expect to incur additional losses for the foreseeable future, and our losses could increase as our research and development
efforts progress. We expect that such losses will fluctuate from quarter to quarter and losses and fluctuations may be substantial.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">To become profitable, we, or our collaborative partners, must successfully
manufacture and develop product candidates, receive regulatory approval, and successfully commercialize and/or enter into profitable
agreements with other parties. It could be several years, if ever, before we receive significant revenue from any current or future
license agreements or revenues directly from product sales.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Because of the numerous risks and uncertainties associated with developing
our product candidates and their potential for commercialization, we are unable to predict the extent of any future losses. Even
if we do achieve profitability, we may not be able to sustain or increase profitability on a quarterly or annual basis. If we are
unable to achieve and sustain profitability, the market value of our common stock will likely decline.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><b><i>Our success depends upon our ability to advance our products through
the various stages of development, especially through the clinical trial process.</i></b></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">To receive the regulatory approvals necessary for the sale of our
product candidates, we or our partners must demonstrate through preclinical studies and clinical trials that each product candidate
is safe and effective. The development process and related regulatory process are complex and uncertain. Because of the cost and
duration of clinical trials, we may decide to discontinue development of product candidates that are unlikely to show good results
in the clinical trials, unlikely to help advance a product to the point of a meaningful collaboration, or unlikely to have reasonable
commercial potential. We may suffer significant setbacks in pivotal pre-clinical studies and clinical trials (e.g. galidesivir,
BCX7353, other kallikrein inhibitors, our ALK2 inhibitors and our other rare disease product candidates), even after earlier clinical
trials show promising results. The development of our product candidates, including our clinical trials, may not be adequately
designed or executed, which could affect the potential outcome and analysis of study results. Any of our product candidates may
produce undesirable side effects in humans. The pre-clinical and clinical data from our product candidates could cause us or regulatory
authorities to interrupt, delay, modify or halt preclinical or clinical trials of a product candidate. Undesirable or inconclusive
data or side effects in humans could also result in the FDA or foreign regulatory authorities refusing to approve the product candidate
for any targeted indications. In addition, the FDA or other regulatory agencies may determine that study data from our product
candidates necessitates additional studies or study designs which differ from our planned development strategy, and regulatory
agencies may also require patient monitoring and testing or may implement restrictions or other conditions on our development activities,
any of which could materially impact the cost and timing of our planned development strategy. We, our partners, the FDA or foreign
regulatory authorities may suspend or terminate clinical trials at any time if we or they believe the trial participants face unacceptable
health risks. Clinical trials may fail to demonstrate that our product candidates are safe or effective and have acceptable commercial
viability. Regulatory authorities may interrupt, delay or halt clinical trials for a product candidate for any number of reasons.</p>



<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Our ability to successfully complete clinical trials is dependent
upon many factors, including but not limited to:</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="vertical-align: bottom; width: 2%">&nbsp;</td>
    <td style="vertical-align: top; width: 3%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: bottom; width: 95%"><font style="font-size: 10pt">our ability to find suitable clinical sites and investigators to enroll patients;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: bottom"><font style="font-size: 10pt">the ability to maintain contact with patients to provide complete data after treatment;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: bottom"><font style="font-size: 10pt">our product candidates may not prove to be either safe or effective;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: bottom"><font style="font-size: 10pt">clinical protocols or study procedures may not be adequately designed or followed by the investigators;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: bottom"><font style="font-size: 10pt">formulation improvements may not work as expected, which could negatively impact commercial demand for our product candidates;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: bottom"><font style="font-size: 10pt">manufacturing or quality control problems could affect the supply of product candidates for our trials; and</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: bottom">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: bottom"><font style="font-size: 10pt">delays or changes in our planned development strategy, the regulations or guidelines, or other unexpected conditions or requirements of government agencies.</font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">Clinical trials are lengthy and expensive. We or our partners incur
substantial expense for, and devote significant time to, preclinical testing and clinical trials, yet we cannot be certain that
the tests and trials will ever result in the commercial sale of a product. For example, clinical trials require adequate supplies
of drug and sufficient patient enrollment. Lack of adequate drug supply or delays in patient enrollment, including for APeX-2,
APeX-S and ZENITH-1, can result in increased costs and longer development times. Even if we or our partners successfully complete
clinical trials for our product candidates, we or our partners might not file the required regulatory submissions in a timely manner
and may not receive regulatory approval for the product candidates.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><b><i>We focus on rare diseases, which may create additional risks and challenges.</i></b></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">Because we focus on developing drugs as treatments for rare diseases,
we may seek orphan drug, breakthrough therapy or fast track designations for our product candidates in the United States or the
equivalent designations elsewhere in the world. Often, regulatory agencies have broad discretion in determining whether or not
to grant such designations. We cannot guarantee that we will be able to receive orphan drug status from the FDA or equivalent regulatory
designations elsewhere. We also cannot guarantee that we will obtain breakthrough therapy or fast track designation, which may
provide certain potential benefits such as more frequent meetings with the FDA to discuss the development plan, intensive guidance
on an efficient drug development program, and potential eligibility for rolling review or priority review. Even if we are successful
in obtaining any such designation by the FDA or other regulatory agency for our product candidates, such designations may not lead
to faster development or regulatory review or approval, and it does not increase the likelihood that our product candidates will
receive marketing approval. We may not be able to obtain or maintain such designations for our product candidates, and our competitors
may obtain these designations for their product candidates, which could impact our ability to develop and commercialize our product
candidates or compete with such competitors, which may adversely impact our business, financial condition or results of operations.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Although we have received Sakigake designation for BCX7353 in Japan,
we may not experience a faster development, review or approval process compared to the conventional process.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><b><i>Our clinical trials may not adequately show that our product candidates
are safe or effective.</i></b></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Progression of our product candidates through the clinical development
process is dependent upon our trials indicating our product candidates have adequate safety and efficacy in the patients being
treated by achieving pre-determined safety and efficacy endpoints according to the clinical trial protocols. Failure to achieve
any of these endpoints in any of our programs, including BCX7353, galidesivir and our other rare disease product candidates, could
result in delays in our trials or require the performance of additional unplanned trials. This could result in delays in the development
of our product candidates and could result in significant unexpected costs or the termination of programs.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 20pt"><b><i>If our development collaborations with third parties, such as our development
partners and contract research organizations, fail, the development of our product candidates will be delayed or stopped.</i></b></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 20pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We rely heavily upon third parties for many important stages of our
product candidate development, including but not limited to:</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="vertical-align: bottom; width: 2%">&nbsp;</td>
    <td style="vertical-align: top; width: 3%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="width: 95%"><font style="font-size: 10pt">discovery of compounds that cause or enable biological reactions necessary for the progression of the disease or disorder, called enzyme targets;</font></td></tr>
<tr style="vertical-align: top">
    <td colspan="3">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">licensing or designing of enzyme inhibitors for development as product candidates;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">execution of certain preclinical studies and late-stage development for our compounds and product candidates;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">management of our clinical trials, including medical monitoring and data management;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">execution of additional toxicology studies that may be required to obtain approval for our product candidates;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">formulation improvement strategies and methods; and</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">manufacturing the starting materials and drug substance required to formulate our products and the product candidates to be used in our clinical trials, toxicology studies and any potential commercial product.</font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Our failure to engage in successful collaborations at any one of these
stages would greatly impact our business. If we do not license enzyme targets or inhibitors from academic institutions or from
other biotechnology companies on acceptable terms, our drug development efforts would suffer. Similarly, if the contract research
organizations that conduct our initial or late-stage clinical trials, conduct our toxicology studies, manufacture our starting
materials, drug substance and product candidates or manage our regulatory function breached their obligations to us or perform
their services inconsistent with industry standards and not in accordance with the required regulations, this would delay or prevent
both the development of our product candidates and the availability of any potential commercial product.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">If we lose our relationship with any one or more of these parties,
we could experience a significant delay in both identifying another comparable provider and then contracting for its services.
We may be unable to retain an alternative provider on reasonable terms, if at all. Even if we locate an alternative provider, it
is likely that this provider may need additional time to respond to our needs and may not provide the same type or level of service
as the original provider. In addition, any provider that we retain will be subject to applicable FDA current Good Laboratory Practices
(&#8220;cGLP&#8221;), current Good Manufacturing Practices (&#8220;cGMP&#8221;) and current Good Clinical Practices (&#8220;cGCP&#8221;),
and comparable foreign standards. We do not have control over compliance with these regulations by these providers. Consequently,
if these practices and standards are not adhered to by these providers, the development and commercialization of our product candidates
could be delayed. If any of the foregoing risks are realized, our business, financial condition and results of operations could
be materially adversely affected.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 20pt"><b><i>Because we have limited manufacturing experience, we depend on third-party
manufacturers to manufacture our product, product candidates and the materials for our product candidates. Often, especially early
in the development and commercialization process, we have only one source for manufacturing. If we cannot rely on existing third-party
manufacturers, we will be required to incur significant costs and potential delays in finding new third-party manufacturers.</i></b></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We have limited manufacturing experience and only a small scale manufacturing
facility. We currently rely upon a very limited number of third-party manufacturers to manufacture the materials required for our
product, product candidates and most of the preclinical and clinical quantities of our product candidates. We depend on these third-party
manufacturers to perform their obligations in a timely manner and in accordance with applicable governmental regulations. Our third-party
manufacturers, which may be the only manufacturer we have engaged for a particular product, may encounter difficulties with meeting
our requirements, including but not limited to problems involving:</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="vertical-align: bottom; width: 2%">&nbsp;</td>
    <td style="vertical-align: top; width: 3%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="width: 95%"><font style="font-size: 10pt">inconsistent production yields;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">product liability claims or recalls of commercial product;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">difficulties in scaling production to commercial and validation sizes;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">interruption of the delivery of materials required for the manufacturing process;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">scheduling of plant time with other vendors or unexpected equipment failure;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
</table>

<p style="margin: 0">&nbsp;</p>

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<p style="margin: 0"></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="vertical-align: bottom; width: 2%">&nbsp;</td>
    <td style="vertical-align: top; width: 3%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="width: 95%"><font style="font-size: 10pt">potential catastrophes that could strike their facilities or have an effect on infrastructure;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">potential impurities in our drug substance or products that could affect availability of product for our clinical trials or future commercialization;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">poor quality control and assurance or inadequate process controls; and</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">lack of compliance or cooperation with regulations and specifications or requests set forth by the FDA or other foreign regulatory agencies, particularly associated with peramivir, BCX7353, galidesivir and our early stage compounds.</font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">These contract manufacturers may not be able to manufacture the materials
required for our product candidates at a cost or in quantities necessary to make them commercially viable. We also have no control
over whether third-party manufacturers breach their agreements with us or whether they may terminate or decline to renew agreements
with us. To date, our third-party manufacturers have met our manufacturing requirements, but they may not continue to do so. Furthermore,
changes in the manufacturing process or procedure, including a change in the location where the drug is manufactured or a change
of a third-party manufacturer, may require prior review and approval in accordance with the FDA&#8217;s cGMP and comparable foreign
requirements. This review may be costly and time-consuming and could delay or prevent the launch of a product. The FDA or similar
foreign regulatory agencies may at any time implement new standards, or change their interpretation and enforcement of existing
standards for manufacture, packaging or testing of products. If we or our contract manufacturers are unable to comply, we or they
may be subject to regulatory action, civil actions or penalties any of which could be costly to the Company and could result in
a delay or shortage of product.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">If we are unable to maintain current manufacturing or other contract
relationships, or enter into new agreements with additional manufacturers on commercially reasonable terms, or if there is poor
manufacturing performance or failure to comply with any regulatory agency on the part of any of our third-party manufacturers,
we may not be able to complete development of, seek timely approval of, or market, our product candidates.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Our raw materials, drug substances, and product candidates are manufactured
by a limited group of suppliers, including some at a single facility. If any of these suppliers were unable to produce these items,
this could significantly impact our supply of product candidate material for further preclinical testing and clinical trials.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 20pt"><b><i>We face intense competition, and if we are unable to compete effectively,
the demand for our products, if any, may be reduced.</i></b></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The biotechnology and pharmaceutical industries are highly competitive
and subject to rapid and substantial technological change. There are many companies seeking to develop products for the same indications
that we currently target. Our competitors in the United States and elsewhere are numerous and include, among others, major multinational
pharmaceutical and chemical companies and specialized biotechnology firms. Most of these competitors have greater resources than
we do, including greater financial resources, larger research and development staffs and more experienced marketing and manufacturing
organizations. In addition, most of our competitors have greater experience than we do in conducting clinical trials and obtaining
FDA and other regulatory approvals. Accordingly, our competitors may succeed in obtaining FDA or other regulatory approvals of
product candidates more rapidly than we do. Companies that complete clinical trials, obtain required regulatory approvals, and
commence commercial sale of their drugs before we do may achieve a significant competitive advantage, including patent and FDA
exclusivity rights that would delay our ability to market products. We face, and will continue to face, competition in the licensing
of potential product candidates for desirable disease targets, licensing of desirable product candidates, and development and marketing
of our product candidates from academic institutions, government agencies, research institutions and biotechnology and pharmaceutical
companies. Competition may also arise from, among other things:</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="width: 2%">&nbsp;</td>
    <td style="vertical-align: top; width: 3%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="width: 95%"><font style="font-size: 10pt">other drug development technologies;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">methods of preventing or reducing the incidence of disease, including vaccines;&nbsp;and</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">new small molecule or other classes of therapeutic agents.</font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><b><i>Developments by others may render our product candidates or technologies
obsolete or noncompetitive.</i></b></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">We are performing research on or developing products for the treatment
of several rare disorders, including HAE and FOP, as well as developing broad spectrum antivirals for use as medical countermeasures.
We expect to encounter significant competition for any of the pharmaceutical products we are developing and plan to develop. Companies
that complete clinical trials, obtain required funding or government support, obtain required regulatory approvals and commence
commercial sales or stockpiling orders of their products before their competitors may achieve a significant competitive advantage.
Such is the case with the current neuraminidase inhibitors marketed by GSK and Roche for influenza; CINRYZE<sup>&#174;</sup>, KALBITOR<sup>&#174;</sup>
and FIRAZYR<sup>&#174;</sup>, marketed by Shire for HAE; BERINERT<sup>&#174;</sup> and HAEGARDA<sup>&#174;</sup> marketed by CSL for
HAE; and RUCONEST<sup>&#174;</sup> marketed by Pharming for HAE.</p>



<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">Further, several pharmaceutical and biotechnology
firms have announced efforts in HAE and in other therapeutic areas where we have discovery and development efforts ongoing. Notably,
prophylactic treatment for HAE is becoming increasingly competitive with the recent approval of CSL&rsquo;s HAEGARDA, Shire&rsquo;s
positive Phase 3 data for the monoclonal antibody, lanadelumab, and Pharming&rsquo;s completion of a Phase 2 HAE prophylaxis trial
and filing of an sBLA for RUCONEST. Additionally, Kalvista Pharmaceuticals, Inc. (KVD818) and Attune Pharmaceuticals, Inc. (ATN-249)
have oral candidates for HAE prophylaxis in Phase 1 development. Therapeutic products with potentially promising data to treat
Ebola include Mapp Biopharmaceutical, Inc.&rsquo;s ZMapp (antibody-based) and Gilead Sciences, Inc.&rsquo;s product currently under
development (small molecule), both of which have been used in Ebola infected patients. Shionogi also recently announced positive
Phase 3 data for S033188, an oral treatment for influenza. For FOP, Clementia Pharmaceuticals Inc.&rsquo;s palovarotene, an oral,
retinoic acid gamma receptor agonist, currently in Phase 3, and Regeneron Pharmaceuticals Inc.&rsquo;s REGN2477, an i.v. anti-activin
antibody in Phase 2, are the most advanced development programs in the space. If one or more of our competitors&rsquo; products
or programs are successful, the market for our products may be reduced or eliminated.</P>






<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Compared to us, many of our competitors and potential competitors
have substantially greater:</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="width: 2%">&nbsp;</td>
    <td style="vertical-align: top; width: 3%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="width: 95%"><font style="font-size: 10pt">capital resources;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">research and development resources, including personnel and technology;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">regulatory experience;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">preclinical study and clinical testing experience;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">manufacturing and marketing experience;&nbsp;and</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">production facilities.</font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Any of these competitive factors could impede our funding efforts,
render technology and product candidates noncompetitive or eliminate or reduce demand for our product candidates.</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 20pt">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 20pt"><b><i>We face risks related to our government-funded programs; if BARDA/HHS
or NIAID/HHS were to eliminate, reduce or delay funding from our contracts, this would have a significant negative impact on the
programs associated with such funding and could have a significant negative impact on our revenues and cash flows.</i></b></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Our projections of revenues and incoming cash flows are substantially
dependent upon BARDA/HHS and NIAID/HHS reimbursement for the costs related to our galidesivir program. If BARDA/HHS or NIAID/HHS
were to eliminate, reduce or delay the funding for these programs or disallow some of our incurred costs, we would have to obtain
additional funding for continued development or regulatory registration for these product candidates or significantly reduce or
stop the development effort.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In contracting with BARDA/HHS and NIAID/HHS, we are subject to various
U.S. Government contract requirements, including general clauses for a cost-reimbursement research and development contract, which
may limit our reimbursement or if we are found to be in violation could result in contract termination. If the U.S. Government
terminates any of its contracts with us for its convenience, or if we default by failing to perform in accordance with the contract
schedule and terms, significant negative impact on our cash flows and operations could result.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 20pt"><b><i>Our government contracts with BARDA/HHS and NIAID/HHS have special contracting
requirements, which create additional risks of reduction or loss of funding.</i></b></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 20pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We have completed work under a contract with BARDA/HHS for the development
of our neuraminidase inhibitor, RAPIVAB. We also have entered into contracts with BARDA/HHS and NIAID/HHS for the development of
galidesivir as a treatment for diseases caused by RNA pathogens, including Marburg virus disease and Ebola virus disease. In contracting
with these government agencies, we are subject to various U.S. Government contract requirements, including general clauses for
a cost-reimbursement research and development contract, which may limit our reimbursement or, if we are found to be in violation,
could result in contract termination.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">U.S. Government contracts typically contain a number of extraordinary
provisions that would not typically be found in commercial contracts and which may create a disadvantage and additional risks to
us as compared to competitors that do not rely on U.S. Government contracts. These risks include the ability of the U.S. Government
to unilaterally:</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="vertical-align: bottom; width: 2%">&nbsp;</td>
    <td style="vertical-align: top; width: 3%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="width: 95%"><font style="font-size: 10pt">terminate or reduce the scope of our contract with or without cause;</font></td></tr>
</table>

<p style="margin: 0">&nbsp;</p>

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<p style="margin: 0"></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="vertical-align: bottom; width: 2%">&nbsp;</td>
    <td style="vertical-align: top; width: 3%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="width: 95%"><font style="font-size: 10pt">interpret relevant regulations (federal acquisition regulation clauses);</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">require performance under circumstances which may not be favorable to us;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">require an in process review where the U.S. Government will review the project and its options under the contract;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">control the timing and amount of funding, which impacts the development progress of our programs; and</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">audit and object to our contract-related costs and fees, including allocated indirect costs.</font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 20pt"><b><i>Our government contracts with BARDA/HHS and NIAID/HHS have termination
and audit provisions which create additional risks to us.</i></b></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The U.S. Government may terminate its contracts with us either for
its convenience or if we default by failing to perform in accordance with the contract schedule and terms. Termination for convenience
provisions generally enable us to recover only our costs incurred or committed, and settlement expenses and profit on the work
completed prior to termination. Termination does not permit these recoveries under default provisions. In the event of termination
or upon expiration of a contract, the U.S. Government may dispute wind-down and termination costs and may question prior expenses
under the contract and deny payment of those expenses. Should we choose to challenge the U.S. Government for denying certain payments
under a contract, such a challenge could subject us to substantial additional expenses which we may or may not recover. Further,
if the U.S. Government terminates its contracts with us for its convenience, or if we default by failing to perform in accordance
with the contract schedule and terms, significant negative impact on our cash flows and operations could result.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">As a U.S. Government contractor, we are required
to comply with applicable laws, regulations and standards relating to our accounting practices and are subject to periodic audits
and reviews. As part of any such audit or review, the U.S. Government may review the adequacy of, and our compliance with, our
internal control systems and policies, including those relating to our purchasing, property, estimating, compensation and management
information systems. Audits under the active BARDA/HHS and NIAID/HHS galidesivir contracts may occur at the election of the U.S.
Government and have been concluded through fiscal 2015; all subsequent fiscal years are still open and auditable. Based on the
results of its audits, the U.S. Government may adjust our contract-related costs and fees, including allocated indirect costs.
This adjustment could impact the amount of revenues reported on a historic basis and could impact our cash flows under the contracts
prospectively. In addition, in the event BARDA/HHS or NIAID/HHS determines that certain costs and fees were unallowable or determines
that the allocated indirect cost rate was higher than the actual indirect cost rate, BARDA/HHS or NIAID/HHS would be entitled to
recoup any overpayment from us as a result. In addition, if an audit or review uncovers any improper or illegal activity, we may
be subject to civil and criminal penalties and administrative sanctions, including termination of our contracts, forfeiture of
profits, suspension of payments, fines and suspension or prohibition from doing business with the U.S. Government. We could also
suffer serious harm to our reputation if allegations of impropriety were made against us. In addition, under U.S. Government purchasing
regulations, some of our costs may not be reimbursable or allowed under our contracts. Further, as a U.S. Government contractor,
we are subject to an increased risk of investigations, criminal prosecution, civil fraud, whistleblower lawsuits and other legal
actions and liabilities as compared to private sector commercial companies.</p>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><b><i>If we fail to reach milestones or to make annual minimum payments or
otherwise breach our obligations under our license agreements, our licensors may terminate our agreements with them and seek additional
remedies.</i></b></p>

<p style="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">If we are unable or fail to meet payment obligations, performance
milestones relating to the timing of regulatory filings, product supply obligations, post approval commitments for RAPIVAB, or
development and commercial diligence obligations; are unable or fail to make milestone payments or material data use payments in
accordance with applicable provisions; or fail to pay the minimum annual payments under our respective licenses, our licensors
may terminate the applicable license or seek other available remedies. As a result, our development of the respective product candidate
or commercialization of the product would cease.&nbsp;&nbsp;&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><b><i>If we fail to obtain additional financing or acceptable partnership
arrangements, we may be unable to complete the development and commercialization of our product candidates or continue operations.</i></b></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">As our programs advance, our costs are likely to increase. Our current
and planned discovery activities, pre-clinical and clinical trials, the related development, manufacturing, regulatory approval
process requirements, and the additional personnel resources and testing required for supporting the development of our product
candidates will consume significant capital resources. Our expenses, revenues and cash utilization rate could vary significantly
depending on many factors, including: our ability to raise additional capital; the development progress of our collaborative agreements
for our product candidates; the amount of funding we receive from NIAID/HHS and BARDA/HHS for galidesivir or from other new partnerships
with third parties for the development of our product candidates, including BCX7353 and our other rare disease product candidates;
the commercial success of peramivir achieved by our partners; the amount or profitability of any orders for peramivir or galidesivir
by any government agency or other party; the progress and results of our current and proposed clinical trials for our most advanced
product candidates, including BCX7353 and our other rare disease product candidates; the progress made in the manufacture of our
lead products and the progression of our other programs.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We expect that we will be required to raise additional capital to
complete the development and commercialization of our current product candidates and we may seek to raise capital at any time.
Additional funding, whether through additional sales of securities, additional borrowings, or collaborative arrangements with partners,
including governmental agencies in general and from any BARDA/HHS or NIAID/HHS contract specifically, may not be available when
needed or on terms acceptable to us. The issuance of preferred or common stock or convertible securities, with terms and prices
significantly more favorable than those of the currently outstanding common stock, could have the effect of diluting or adversely
affecting the holdings or rights of our existing stockholders. Additional borrowings may subject us to more restrictive covenants
than are currently applicable to us under our September 23, 2016 Senior Credit Facility with an affiliate of MidCap Financial Services,
LLC, as administrative agent (the &#8220;Senior Credit Facility&#8221;). In addition, collaborative arrangements may require us
to transfer certain material rights to such corporate partners. Insufficient funds or lack of an acceptable partnership may require
us to delay, scale-back or eliminate certain of our research and development programs.</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">In order to continue future operations and continue our drug development
programs, we will be required to raise additional capital. In addition to seeking strategic partnerships, transactions and government
funding, we may decide to access the equity or debt markets, incur additional borrowings, or seek other sources to meet liquidity
needs. Our ability to raise additional capital may be limited and may greatly depend upon the success of ongoing development related
to our current drug development programs, including post approval studies for RAPIVAB,&nbsp;the progress, timeline and ultimate
outcome of&nbsp;our kallikrein inhibitors, including the BCX7353 program (including, but not limited to, formulation progress,
Phase 3 trials, long-term human safety studies, and the timing of carcinogenicity or other required studies), the progress of our
ALK2 inhibitors for the treatment of FOP and other rare disease product candidates, funding for and continued successful development
of galidesivir, and the progress of our early discovery programs. In addition, constriction and volatility in the equity and debt
markets may restrict our future flexibility to raise capital when such needs arise. Furthermore, we have exposure to many different
industries, financing partners and counterparties, including commercial banks, investment banks and partners (which include investors,
licensing partners, and the U.S. Government) which may be unstable or may become unstable in the current economic and political
environment. Any such instability may impact these parties&#8217; ability to fulfill contractual obligations to us or they might
limit or place burdensome conditions upon future transactions with us. Also, it is possible that suppliers may be negatively impacted.
Any such unfavorable outcomes in our current programs or unfavorable economic conditions could place severe downward pressure on
the price of our common stock and may decrease opportunities to raise capital in the capital or credit markets, and further could
reduce the return available on invested corporate cash, which, if severe and sustained, could have a material and adverse impact
on our results of operations and cash flows and limit our ability to continue development of our product candidates.</p>



<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><b><i>We may not be able to continue as a going concern if we do not obtain
additional capital.</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">We have sustained operating losses for the majority of our corporate
history and expect that our 2018 expenses will exceed our 2018 revenues. We expect to continue to incur operating losses and negative
cash flows until revenues reach a level sufficient to support ongoing operations.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">Our liquidity needs will be largely determined by the success of
operations in regards to the progression of our product candidates in the future. Our plans to alleviate the doubt regarding our
ability to continue as a going concern primarily include our ability to control the timing and spending on our research and development
programs and raising additional funds through equity financings.&nbsp; We also may consider other plans to fund operations including:
(1) securing or increasing U.S. Government funding of our programs, including obtaining procurement contracts; (2) out-licensing
rights to certain of our products or product candidates, pursuant to which the we would receive cash milestones; (3) raising additional
capital through equity or debt financings or from other sources; (4) obtaining additional product candidate regulatory approvals,
which would generate revenue, milestones and cash flow; (5) reducing spending on one or more research and development programs,
including by discontinuing development; and/or (6) restructuring operations to change our overhead structure.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">There can be no assurance that any of our plans will be successful
or that additional capital will be available to us on reasonable terms, or at all, when needed. If we are unable to obtain sufficient
additional capital, we may be forced to curtail operations, delay or stop ongoing clinical trials, cease operations altogether
or file for bankruptcy.</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><b><i>If we fail to successfully commercialize or establish collaborative
relationships to commercialize certain of our product candidates, or if any partner terminates or fails to perform its obligations
under agreements with us, potential revenues from commercialization of our product candidates could be reduced, delayed or eliminated.</i></b></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Our business strategy is to increase the asset value of our product
candidate portfolio. We believe this is best achieved by retaining full product rights or through collaborative arrangements with
third parties as appropriate. As needed, potential third-party relationships could include preclinical development, clinical development,
regulatory approval, marketing, sales and distribution of our product candidates.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">Currently, we have established collaborative
relationships with Mundipharma for the development and commercialization of Mundesine and with each of Shionogi and Green Cross
for the development and commercialization of peramivir in Japan, Taiwan and South Korea. Most recently we have established a collaborative
relationship with Seqirus UK Limited for RAPIVAB on a worldwide basis other than Israel, Japan, Korea and Taiwan. The process of
establishing and implementing collaborative relationships is difficult, time-consuming and involves significant uncertainty, including:</p>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="vertical-align: bottom; width: 2%">&nbsp;</td>
    <td style="vertical-align: top; width: 3%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="width: 94%"><font style="font-size: 10pt">our partners may seek to renegotiate or terminate their relationships with us due to unsatisfactory commercial, regulatory or clinical results, including post approval clinical commitments, a change in business strategy, a change of control or other reasons;</font></td>
    <td style="width: 1%">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">our contracts for collaborative arrangements may expire;</font></td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">our partners may choose to pursue alternative technologies, including those of our competitors;</font></td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">we may have disputes with a partner that could lead to litigation or arbitration;</font></td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">we do not have day to day control over the activities of our partners and have limited control over their decisions;</font></td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">our ability to generate future event payments and royalties from our partners depends upon their abilities to establish the safety and efficacy of our product candidates, obtain regulatory approvals and achieve market acceptance of products developed from our product candidates;</font></td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">we or our partners may fail to properly initiate, maintain or defend our intellectual property rights, where applicable, or a party may utilize our proprietary information in such a way as to invite litigation that could jeopardize or potentially invalidate our proprietary information or expose us to potential liability;</font></td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">we or our partners may not devote sufficient capital or resources towards our product candidates; and</font></td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">we or our partners may not comply with applicable government regulatory requirements.</font></td>
    <td>&nbsp;</td></tr>
</table>
<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">If we or our partners fail to fulfill our responsibilities in a timely
manner, or at all, our commercialization efforts related to that collaboration could be reduced, delayed or terminated, or it may
be necessary for us to assume responsibility for activities that would otherwise have been the responsibility of our partner. If
we are unable to establish and maintain collaborative relationships on acceptable terms, we may have to delay or discontinue further
development of one or more of our product candidates, undertake commercialization activities at our own expense or find alternative
sources of funding. Any delay in the development or commercialization of our product candidates would severely affect our business,
because if our product candidates do not progress through the development process or reach the market in a timely manner, or at
all, we may not receive additional future event payments and may never receive milestone, product sales or royalty payments.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><b><i>We do not have a great deal of experience in commercializing our products
or technologies, and our future revenue generation is uncertain.</i></b></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We do not have a great deal of experience in commercializing our product
candidates or technologies. We currently have limited marketing and commercial capability, no direct or third-party sales force
and limited distribution capabilities. We may be unable to establish or sufficiently increase these capabilities for products we
currently, or plan to, commercialize. In addition, our revenue from collaborative agreements may be dependent upon the status of
our preclinical and clinical programs.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Our ability to receive revenue from products we commercialize presents
several risks, including:</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="vertical-align: bottom; width: 2%">&nbsp;</td>
    <td style="vertical-align: top; width: 3%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="width: 95%"><font style="font-size: 10pt">we or our collaborators may fail to successfully complete clinical trials, or satisfy post-marketing commitments, sufficient to obtain and keep FDA marketing approval;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">many competitors are more experienced and have significantly more resources, and their products could reach the market faster, be more cost effective or have a better efficacy or tolerability profile than our product candidates;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">we may fail to employ a comprehensive and effective intellectual property strategy, which could result in decreased commercial value of our Company and our products;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">we may fail to employ a comprehensive and effective regulatory strategy, which could result in a delay or failure in commercialization of our products;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">our ability to successfully commercialize our products is affected by the competitive landscape, which cannot be fully known at this time;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">reimbursement is constantly changing, which could greatly affect usage of our products; and</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">future revenue from product sales would depend on our ability to successfully complete clinical studies, obtain regulatory approvals, and manufacture, market and commercialize our approved drugs.</font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><b><i>Commercialization of peramivir by our partners is subject to the potential
commercialization risks described herein and numerous additional risks. Any potential revenue benefits to us in the form of milestone
payments, royalties or other consideration are highly speculative.</i></b></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Commercialization success of peramivir is uncertain and is subject
to all the risks and uncertainties disclosed in our other risk factors relating to drug development and commercialization. In addition,
commercialization of peramivir products is subject to further risks and may be negatively impacted by a number of factors, including,
but not limited to, the following:</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="vertical-align: bottom; width: 2%">&nbsp;</td>
    <td style="vertical-align: top; width: 3%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="width: 95%"><font style="font-size: 10pt">peramivir may not prove to be adequately safe and effective for market approval in markets other than the United States, Canada, Japan, Korea and Taiwan;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">necessary funding for post-marketing commitments and further development of peramivir may not be available timely, at all, or in sufficient amounts;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">flu prevention or pandemic treatment concerns may not materialize at all, or in the near future;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">advances in flu vaccines or other antivirals, including competitive i.v. antivirals, could substantially replace potential demand for peramivir;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">a limited number of governmental entities are expected to be the primary potential stockpiling customers for peramivir and if we are not successful at marketing peramivir to these entities for any reason, we will not receive substantial revenues from stockpiling orders;</font></td></tr>
</table>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="vertical-align: bottom; width: 2%">&nbsp;</td>
    <td style="vertical-align: top; width: 3%">&nbsp;</td>
    <td style="width: 95%">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">government and third party payors may not provide sufficient coverage or reimbursement which would negatively impact the demand for peramivir;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">we may not be able to supply commercial material to our partners and our partners may not be able to maintain or establish sufficient and acceptable commercial manufacturing, either directly or through third-party manufacturers;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">the commercial demand and acceptance for peramivir by healthcare providers and by patients may not be sufficient to result in substantial revenues of peramivir to our partners and may result in little to no milestones or royalties to us;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">effectiveness of marketing and commercialization efforts for peramivir by our partners;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">market satisfaction with existing alternative therapies;</font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="vertical-align: bottom; width: 2%">&nbsp;</td>
    <td style="vertical-align: top; width: 3%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="width: 95%"><font style="font-size: 10pt">perceived efficacy relative to other available therapies;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">disease prevalence;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">cost of treatment;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">pricing and availability of alternative products;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">marketing and sales activities of competitors;</font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="vertical-align: bottom; width: 2%">&nbsp;</td>
    <td style="vertical-align: top; width: 3%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="width: 95%"><font style="font-size: 10pt">shifts in the medical community to new treatment paradigms or standards of care; and</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">relative convenience and ease of administration.</font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 20pt"><b><i>We are subject to various federal and state laws related to RAPIVAB and
other products under development and, if we or our partners do not comply with these regulations, we could face substantial penalties.</i></b></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Our or our partners&#8217; activities related to RAPIVAB, or any of
our other products under development and following their regulatory approval, are subject to regulatory and law enforcement authorities
in addition to the FDA, including the Federal Trade Commission, the Department of Justice, and state and local governments. In
the case of our collaboration with SUL, although SUL is responsible for RAPIVAB marketing and commercialization efforts, we continue
to carry certain risks associated with RAPIVAB because we hold the RAPIVAB NDA. For example, we are responsible for reporting adverse
drug experiences, we have responsibility for certain post-approval studies, we may have responsibilities and costs related to a
recall or withdrawal of RAPIVAB from sale, we may incur liability associated with RAPIVAB manufacturing contracted by us or in
support of any of our partners, we are required to maintain records and provide data and reports to regulatory agencies related
to RAPIVAB (e.g. risk evaluation and mitigation strategies, track and trace requirements, adverse events), and we may incur certain
promotional regulatory and government pricing risks, all of which could have a material adverse impact on our operations and financial
condition.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In addition, we are subject to the federal physician sunshine act
and certain similar physician payment and drug pricing transparency legislation in various states. We are also subject to various
federal and state laws pertaining to health care &#8220;fraud and abuse,&#8221; including both federal and state anti-kickback
and false claims laws. These laws regulate our or our partners&#8217; operations, sales and marketing practices, price reporting,
and relationships with physicians and other customers and third-party payors. Anti-kickback laws generally prohibit a manufacturer
from soliciting, offering, receiving, or paying any remuneration to generate business, including the purchase or prescription of
a particular drug. Although the specific provisions of these laws vary, their scope is generally broad and there may be no regulations,
guidance or court decisions that clarify how the laws apply to particular industry practices. False claims laws prohibit anyone
from knowingly and willingly presenting, or causing to be presented for payment to third party payors (including Medicare and Medicaid)
claims for reimbursement or services that are false or fraudulent, claims for items or services not provided as claimed, or claims
for medically unnecessary items or services. The sunshine provisions apply to manufacturers with products reimbursed under certain
government programs and require those manufacturers to disclose annually to the federal government certain payments made to physicians
(defined to include doctors, dentists, optometrists, podiatrists and chiropractors) and teaching hospitals, as well as, ownership
and investment interests held by physicians (as defined above) and their immediate family members. State laws may also require
disclosure of pharmaceutical pricing information and marketing expenditures. Although we seek to comply with these statutes, it
is possible that our practices, or those of our partners, might be challenged under health care fraud and abuse, anti-kickback,
false claims or similar laws. Violations of the physician sunshine act and similar state legislation or the fraud and abuse laws
may be punishable by civil or criminal sanctions, including fines and civil monetary penalties, and future exclusion from participation
in government healthcare programs.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We have a number of outstanding post-marketing commitments to the
FDA that we retain, despite our partnership with SUL, which we may not complete successfully or on time for any number of reasons,
including but not limited to lack of funds to complete the studies and insufficient interest by appropriate sites, investigators
or study subjects. For example, as a condition of the approval of RAPIVAB, we were required to complete a pediatric patient study
of RAPIVAB and to submit the final results of this clinical trial to the FDA. We may be subject to penalties if we fail to comply
with post-approval legal and regulatory requirements and our products could be subject to continual recordkeeping and reporting
requirements, review and periodic inspections by the FDA and other regulatory bodies. Regulatory approval of a product may be subject
to limitations on the indicated uses for which the product may be marketed or to the other restrictive conditions of approval that
limit our ability to promote, sell or distribute a product. Furthermore, the approval of RAPIVAB and any other future product candidates
may be subject to requirements for costly post-marketing testing and surveillance to monitor its safety or efficacy.&nbsp;</p>



<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Advertising and promotion are subject to stringent FDA rules and oversight
and as the holder of the NDA we may be held responsible for any advertising and promotion conducted by our partner that is not
in compliance with the rules and regulations. In particular, the claims in all promotional materials and activities must be consistent
with the FDA approvals for approved products, and must be appropriately substantiated and fairly balanced with information on the
safety risks and limitations of the products. Adverse event information concerning approved products must be reviewed and as the
NDA holder of RAPIVAB we are required to make expedited and periodic adverse event reports to the FDA and other regulatory authorities.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In addition, the research, manufacturing, distribution, sale and promotion
of products are potentially subject to regulation by various federal, state and local authorities in addition to the FDA, including
the Centers for Medicare and Medicaid Services, other divisions of the U.S. Department of Health and Human Services, the U.S. Department
of Justice and individual U.S. Attorney offices within the Department of Justice, and state and local governments. Until we can
successfully transfer the pricing responsibilities to our partner, we remain responsible for pricing and rebate programs. Pricing
and rebate programs must comply with the Medicaid rebate requirements of the Omnibus Budget Reconciliation Act of 1990, as amended,
and the Veterans Health Care Act of 1992, as amended. If products are made available to authorized users of the Federal Supply
Schedule of the General Services Administration, additional laws and requirements apply. All of these activities are also potentially
subject to federal and state healthcare false claims and fraud and abuse laws, as well as consumer protection and unfair competition
laws.&nbsp;&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">If our operations with respect to RAPIVAB or our other products that
are subject to healthcare laws and regulations are found to be in violation of any of the healthcare fraud and abuse laws described
above or any other governmental regulations that apply to us, we may be subject to penalties, including civil and criminal penalties,
damages, fines and the curtailment or restructuring of our operations. Any penalties, damages, fines, curtailment or restructuring
of our operations could adversely affect our ability to operate our business and our financial results. Although compliance programs
can mitigate the risk of investigation and prosecution for violations of these laws, the risks cannot be entirely eliminated. Any
action against us for violation of these laws, even if we successfully defend against it, could cause us to incur significant legal
expenses and divert our management's attention from the operation of our business. Moreover, achieving and sustaining compliance
with all applicable federal and state fraud and abuse laws may be costly.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 20.15pt"><b><i>We and our partners may be subject to new legislation, regulatory proposals
and healthcare payor initiatives that may increase our costs of compliance and adversely affect our or our partners&#8217; ability
to market our products, including RAPIVAB, obtain collaborators and raise capital.</i></b></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Patient Protection and Affordable Care Act, or PPACA, made extensive
changes to the delivery of health care in the U.S. The PPACA included numerous provisions that affect pharmaceutical companies,
some of which became effective immediately and others of which have taken effect over the past several years. For example, the
PPACA expanded health care coverage to the uninsured through private health insurance reforms and an expansion of Medicaid. The
PPACA also imposed substantial costs on pharmaceutical manufacturers, such as an increase in liability for rebates paid to Medicaid,
new drug discounts that must be offered to certain enrollees in the Medicare prescription drug benefit, an annual fee imposed on
all manufacturers of brand prescription drugs in the U.S., and an expansion of an existing program requiring pharmaceutical discounts
to certain types of hospitals and federally subsidized clinics. The PPACA also contains cost containment measures that could reduce
reimbursement levels for health care items and services generally, including pharmaceuticals. It also required reporting and public
disclosure of payments and other transfers of value provided by pharmaceutical companies to physicians and teaching hospitals.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We expect that the current presidential administration and U.S. Congress
will likely continue to seek to modify, repeal, or otherwise invalidate all, or certain provisions of, the PPACA. There is still
significant uncertainty with respect to the impact that the current presidential administration and the U.S. Congress may have
on the PPACA, if any, and any changes will likely take time to unfold. As such, we cannot predict what effect the PPACA or other
healthcare reform initiatives that may be adopted in the future will have on our business.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We cannot predict what effect the PPACA or other healthcare reform
initiatives that may be adopted in the future will have on our business. The continuing efforts of the government, insurance companies,
managed care organizations and other payors of health care services to contain or reduce costs of health care could result in decreased
net revenues from our pharmaceutical products and decrease potential returns from our development efforts. In addition, pharmaceutical
and device manufacturers are also required to report and disclose certain payments and transfers of value to, and investment interests
held by, physicians and their immediate family members during the preceding calendar year. Failure to submit required information
may result in civil monetary penalties for payments, transfers of value or ownership or investment interests not reported in an
annual submission. Compliance with the PPACA and state laws with similar provisions is difficult and time consuming, and companies
that do not comply with these state laws face civil penalties. Because of the breadth of these laws and the narrowness of the safe
harbors, it is possible that some of our business activities could be subject to challenge under one or more of such laws. Such
a challenge could have a material adverse effect on our business, financial condition, results of operations and growth prospects.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In addition, there have been a number of other legislative and regulatory
proposals aimed at changing the pharmaceutical industry. In particular, legislation has been enacted in certain states and at a
federal level that requires development of an electronic pedigree to track and trace each prescription drug at the saleable unit
level through the distribution system. Compliance with these electronic pedigree requirements may increase our operational expenses
and impose significant administrative burdens. In addition, our compliance may be deemed insufficient and we could face a material
adverse effect on our business, financial condition, results of operations and growth prospects.&nbsp;As a result of these and
other new proposals, we may determine to change our current manner of operation, provide additional benefits or change our contract
arrangements, any of which could have a material adverse effect on our business, financial condition and results of operations.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Adequate coverage and reimbursement in the U.S. and other markets
is critical to the commercial success of RAPIVAB or any other product that we might bring to market. Recently in the U.S. there
has been heightened governmental scrutiny over the manner in which manufacturers set prices for their marketed products, which
has resulted in several Congressional inquiries and proposed bills designed to, among other things, reform government program reimbursement
methodologies. Third-party payors are increasingly challenging the prices charged for medical products and services and, in some
cases, imposing restrictions on the coverage of particular drugs. Many third-party payors negotiate the price of medical services
and products and develop formularies which establish pricing and reimbursement levels. Exclusion of a product from a formulary
can lead to its sharply reduced usage in the third-party payor&#8217;s patient population. The process for obtaining coverage can
be lengthy and costly, and we expect that it could take several months before a particular payor initially reviews our product
and makes a decision with respect to coverage. For example, third-party payors may require cost-benefit analysis data from us in
order to demonstrate the cost-effectiveness of RAPIVAB or any other product we might bring to market. For any individual third-party
payor, we may not be able to provide data sufficient to gain reimbursement on a similar or preferred basis to competitive products,
or at all which may have a material adverse effect on our business, financial condition and results of operations. &nbsp;&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 20pt"><b><i>There are risks related to the potential government use or sale of peramivir
(RAPIVAB).</i></b></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">United States Government use or sale of RAPIVAB in emergency situations,
or otherwise, may result in the use of RAPIVAB outside of its approved use. To the extent that RAPIVAB is used as a treatment for
influenza by the U.S. Government or peramivir by any other government entity, there can be no assurance that it will prove to be
generally safe, well-tolerated and effective. Such government use of RAPIVAB/peramivir may create certain liabilities for us or
our partners in the case of government use outside of the U.S. There is no assurance that we or our manufacturers will be able
to fully meet the demand for peramivir in the event of additional orders. Further, we may not achieve a favorable price for additional
orders of RAPIVAB in the U.S. or peramivir in any other country. Our competitors may develop products that could compete with or
replace peramivir. We may face competition in markets where we have no existing intellectual property protection or are unable
to successfully enforce our intellectual property rights.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">There is no assurance that the non-U.S. partnerships that we have
entered into for peramivir will result in any order for peramivir in those countries. There is no assurance that peramivir will
be approved for any use or will achieve market approval in additional countries. In the event that any emergency use or market
approval is granted, there is no assurance that any government order or commercialization of peramivir in any countries will be
substantial or will be profitable to us. In addition, the sale of peramivir, emergency use or other use of peramivir in any country
may create certain liabilities for us and our partners.</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 20pt"><b><i>&nbsp;</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 20.15pt"><b><i>If we or our partners do not obtain and maintain governmental approvals
for our product candidates under development, we or our partners will not be able to sell these potential products, which would
significantly harm our business because we will receive no revenue.</i></b></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We or our partners must obtain regulatory approval before marketing
or selling our future product candidates. If we or our partners are unable to receive regulatory approval and do not market or
sell our future product candidates, we will never receive any revenue from such product sales. In the United States, we or our
partners must obtain FDA approval for product candidates that we intend to commercialize. The process of preparing for and obtaining
FDA approval may be lengthy and expensive, and approval is never certain. Products distributed abroad are also subject to foreign
government regulation and export laws of the United States. Because of the risks and uncertainties in biopharmaceutical development,
our product candidates could take a significantly longer time to gain regulatory approval than we expect or may never gain approval.
If the FDA delays regulatory approval of our product candidates, our management&#8217;s credibility, our value and our operating
results may suffer. Even if the FDA or foreign regulatory agencies approve a product candidate, the approval may limit the indicated
uses for a product candidate and/or may require post-approval studies.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The FDA regulates, among other things, the record keeping and storage
of data pertaining to potential pharmaceutical products. We currently store most of our preclinical research data, our clinical
data and our manufacturing data at our facility. While we do store duplicate copies of most of our clinical data offsite and a
significant portion of our data is included in regular backups of our systems, we could lose important data if our facility incurs
damage, or if our vendor data systems fail, suffer damage or are destroyed. If we receive approval to market our potential products,
whether in the United States or internationally, we will continue to be subject to extensive regulatory requirements. These requirements
are wide ranging and govern, among other things:</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="width: 2%">&nbsp;</td>
    <td style="vertical-align: top; width: 3%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="width: 95%"><font style="font-size: 10pt">adverse drug experience reporting regulations;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">product promotion;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">product manufacturing, including good manufacturing practice requirements;&nbsp;and</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">product changes or modifications.</font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Our failure to comply with existing or future regulatory requirements,
or our loss of, or changes to, previously obtained approvals, could have a material adverse effect on our business because we will
not receive product or royalty revenues if we or our partners do not receive approval of our products for marketing. &nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><b><i>Royalties and milestone payments from Shionogi under our license
agreement with Shionogi (the "Shionogi Agreement") will be required to be used by Royalty Sub to service its obligations under
its PhaRMA Notes, and generally will not be available to us for other purposes until Royalty Sub has repaid in full its obligations
under the PhaRMA Notes.</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In March 2011, our wholly-owned subsidiary Royalty Sub issued $30.0
million in aggregate principal amount of PhaRMA Notes. The PhaRMA Notes are secured principally by (i) certain royalty and milestone
payments under the Shionogi Agreement, pursuant to which Shionogi licensed from us the rights to market peramivir in Japan and
Taiwan, (ii) rights to certain payments under a Japanese yen/U.S. dollar Currency Hedge Agreement put into place by us in connection
with the issuance of the PhaRMA Notes and (iii) the pledge by us of our equity interest in Royalty Sub. Payments from Shionogi
to us on non-governmental sales under the Shionogi Agreement will generally not be available to us for other purposes until Royalty
Sub has repaid in full its obligations under the PhaRMA Notes. Accordingly, these funds will be required to be dedicated to Royalty
Sub&#8217;s debt service and not available to us for product development or other purposes. As of September 1, 2014, the payments
from Shionogi were insufficient for Royalty Sub to service its obligations under the PhaRMA Notes, resulting in an event of default
with respect to the PhaRMA Notes. As a result of this event of default, the holders of the PhaRMA Notes may be able to pursue acceleration
of the PhaRMA Notes and foreclose on the collateral securing the PhaRMA Notes and our equity interest in Royalty Sub and may&nbsp;exercise
other remedies available to them under the indenture or other documents related to&nbsp;the PhaRMA Notes. In such event, we may
not realize the benefit of future royalty payments that might otherwise accrue to us following repayment of the PhaRMA Notes, we
may incur legal costs&nbsp;and we might otherwise be adversely affected.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><b><i>Because an event of default has occurred under the PhaRMA Notes, the
holders of the PhaRMA Notes may be able to pursue acceleration of the PhaRMA Notes and foreclose on the collateral securing the
PhaRMA Notes and our equity interest in Royalty Sub, in which case we may not realize the benefit of future royalty payments that
might otherwise accrue to us following repayment of the PhaRMA Notes and we could otherwise be adversely affected.</i></b></p>

<p style="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Royalty Sub&#8217;s ability to service its payment obligations in
respect of the PhaRMA Notes, and our ability to benefit from our equity interest in Royalty Sub, is subject to numerous risks.
Royalty Sub&#8217;s ability to service the PhaRMA Notes may be adversely affected by, among other things, changes in or any termination
of our relationship with Shionogi, reimbursement, regulatory, manufacturing and/or intellectual property issues, product returns,
product recalls, product liability claims and allegations of safety issues, as well as other factors. As Royalty Sub has been unable
to service its obligations under the PhaRMA Notes and an event of default has occurred under the PhaRMA Notes, the holders of the
PhaRMA Notes may be able to pursue acceleration of the PhaRMA Notes and foreclose on the collateral securing the PhaRMA Notes and
our equity interest in Royalty Sub and may&nbsp;exercise other remedies available to them under the indenture&nbsp;or other documents
related to&nbsp;the PhaRMA Notes. In such event, we may not realize the benefit of future royalty payments that might otherwise
accrue to us following repayment of the PhaRMA Notes, we may incur legal costs&nbsp;and we might otherwise be adversely affected.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><b><i>We may be required to pay significant premiums under the Currency Hedge
Agreement entered into by us in connection with the issuance of the PhaRMA Notes. In addition, because our potential obligations
under the foreign currency hedge are marked to market, we may experience additional quarterly volatility in our operating results
and cash flows attributable to the Currency Hedge Agreement.&nbsp;</i></b></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In connection with the issuance by Royalty Sub of the PhaRMA Notes,
we entered into a Currency Hedge Agreement to hedge certain risks associated with changes in the value of the Japanese yen relative
to the U.S. dollar. Under the foreign currency hedge agreement, we may be required to pay an annual premium in the amount of $2.0
million in each May continuing through May 2020. Such payment will be required if, in May of the relevant year, the spot rate of
exchange for Japanese yen-U.S. dollars (determined in accordance with the Currency Hedge Agreement) is such that the U.S. dollar
is worth 100 yen or less. We will be required to mark to market our potential obligations under the currency hedge and post cash
collateral, which may cause us to experience additional quarterly volatility in our operating results and cash flows as a result.
Additionally, we may be required to pay significant premiums or a termination fee under the foreign currency hedge agreement entered
into by us in connection with the issuance of the PhaRMA Notes. We are required to maintain a foreign currency hedge at 100 yen
per dollar under the agreements governing the PhaRMA Notes.</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"></p>

<p style="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.25in; background-color: white"><b><i>Our Senior Credit Facility
contains restrictions that limit our flexibility in operating our business. We may be required to make a prepayment or repay the
outstanding indebtedness earlier than we expect if a prepayment event or an event of default occurs, including a material adverse
change with respect to us, which could have a material adverse effect on our business.</i></b></p>

<p style="font-size: 10pt; text-align: justify; margin: 0pt 0; background-color: white">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0; background-color: white">The Senior Credit Facility contains various
covenants that limit our ability to engage in specified types of transactions. These covenants limit our ability to, among other
things:</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="width: 2%">&nbsp;</td>
    <td style="vertical-align: top; width: 3%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top; width: 95%; text-align: justify"><font style="font-size: 10pt">convey, sell, lease, license, transfer or otherwise dispose of certain parts of our business or property;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">change the nature of our business;</font></td></tr>
</table>
<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="width: 2%">&nbsp;</td>
    <td style="vertical-align: top; width: 3%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="width: 95%"><font style="font-size: 10pt">liquidate or dissolve;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">enter into certain change in control or acquisition transactions;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">incur or assume certain debt;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">grant certain types of liens on our assets;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">modify, liquidate or transfer assets in certain collateral accounts;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">pay dividends or make certain distributions to our stockholders;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">make certain investments;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">enter into material transactions with affiliates; and</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">modify existing debt or collaboration arrangements.</font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-align: justify; text-indent: 10.35pt; margin: 0pt 0; background-color: white">The restrictive covenants
contained in the Senior Credit Facility could cause us to be unable to pursue business opportunities that we or our stockholders
may consider beneficial without the lender&#8217;s permission or without repaying all Senior Credit Facility obligations.</p>

<p style="font-size: 10pt; text-align: justify; text-indent: 27pt; margin: 0pt 0; background-color: white">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">A breach of any of these covenants could result in an event of default
under the Senior Credit Facility. An event of default will also occur if, among other things, a material adverse change in our
business, operations or condition occurs, which could potentially include negative results in clinical trials, or a material impairment
of the prospect of our repayment of any portion of the amounts we owe under the Senior Credit Facility occurs. In the case of a
continuing event of default under the agreement, the lender could elect to declare all amounts outstanding to be immediately due
and payable, proceed against the collateral in which we granted to the lender a security interest under the Senior Credit Facility,
or otherwise exercise the rights of a secured creditor. Amounts outstanding under the Senior Credit Facility are secured by substantially
all of our assets and those of our subsidiaries, excluding certain specified assets but including proceeds from those assets.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><b><i>If we fail to adequately protect or enforce our intellectual property
rights or secure rights to patents of others, the value of those rights would diminish.</i></b></p>

<p style="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Our success will depend in part on our ability and the abilities of
our partners to obtain, protect and enforce viable intellectual property rights including but not limited to trade name, trademark
and patent protection for our Company and its products, methods, processes and other technologies we may license or develop, to
preserve our trade secrets, and to operate without infringing the proprietary rights of third parties both domestically and abroad.
The patent position of biotechnology and pharmaceutical companies is generally highly uncertain, involves complex legal and factual
questions and has recently been the subject of much litigation. Neither the United States Patent and Trademark Office (&#8220;USPTO&#8221;),
the Patent Cooperation Treaty offices, nor the courts of the United States and other jurisdictions have consistent policies nor
predictable rulings regarding the breadth of claims allowed or the degree of protection afforded under many biotechnology and pharmaceutical
patents. Further, we may not have worldwide patent protection for all of our product candidates and our intellectual property rights
may not be legally protected or enforceable in all countries throughout the world. In some jurisdictions, some of our product candidates
in certain programs, including our HAE program, may have short or no composition of matter patent life and we may therefore rely
on orphan drug exclusivity or data exclusivity. There can be no assurance that we will obtain orphan drug exclusivity or data exclusivity
in every jurisdiction. Further, in some jurisdictions, we may rely on formulation patents or method of use patents. Both the ability
to achieve issuance and the enforcement of formulation and method of use patents can be highly uncertain and can vary from jurisdiction
to jurisdiction, and such patents may therefore not adequately prevent competitors and potential infringers in some jurisdictions.
The validity, scope, enforceability and commercial value of the rights protected by such patents, therefore, is highly uncertain.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We also rely on trade secrets to protect technology in cases when
we believe patent protection is not appropriate or obtainable. However, trade secrets are difficult to protect. If we cannot maintain
the confidentiality of our technology and other confidential information in connection with our collaborators and advisors, our
ability to receive patent protection or protect our proprietary information may be imperiled.&nbsp;&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 20pt"><b><i>We may be involved in lawsuits to protect or enforce our patents, the
patents of our partners or our other intellectual property rights, which could be expensive, time consuming and unsuccessful</i></b>.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Competitors may infringe or otherwise violate our patents, the patents
of our licensors or our other intellectual property rights. To counter infringement or unauthorized use, we may be required to
file legal claims, which can be expensive and time-consuming and unsuccessful. An adverse result in any litigation or defense proceeding
could put one or more of our patents at risk. Our success depends in part on avoiding the infringement of other parties&#8217;
patents and other intellectual property rights as well as avoiding the breach of any licenses relating to our technologies and
products. In the United States, patent applications filed in recent years are confidential for 18 months, while older applications
are not published until the patent issues. As a result, avoiding patent infringement may be difficult and we may inadvertently
infringe third-party patents or proprietary rights. These third parties could bring claims against us, our partners or our licensors
that even if resolved in our favor, could cause us to incur substantial expenses and, if resolved against us, could additionally
cause us to pay substantial damages. Further, if a patent infringement suit were brought against us, our partners or our licensors,
we or they could be forced to stop or delay research, development, manufacturing or sales of any infringing product in the country
or countries covered by the patent we infringe, unless we can obtain a license from the patent holder. Such a license may not be
available on acceptable terms, or at all, particularly if the third party is developing or marketing a product competitive with
the infringing product. Even if we, our partners or our licensors were able to obtain a license, the rights may be nonexclusive,
which would give our competitors access to the same intellectual property.&nbsp;</p>

<p style="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; text-align: justify; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">If we or our partners are unable or fail to adequately initiate, protect,
defend or enforce our intellectual property rights in any area of commercial interest or in any part of the world where we wish
to seek regulatory approval for our products, methods, processes and other technologies, the value of the product candidates to
produce revenue would diminish. Additionally, if our products, methods, processes, and other technologies or our commercial use
of such products, processes, and other technologies, including but not limited to any trade name, trademark or commercial strategy
infringe the proprietary rights of other parties, we could incur substantial costs. The USPTO and the patent offices of other jurisdictions
have issued to us a number of patents for our various inventions and we have in-licensed several patents from various institutions.
We have filed additional patent applications and provisional patent applications with the USPTO. We have filed a number of corresponding
foreign patent applications and intend to file additional foreign and U.S. patent applications, as appropriate. We have also filed
certain trademark and trade name applications worldwide. We cannot assure you as to:</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="width: 2%">&nbsp;</td>
    <td style="vertical-align: top; width: 3%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="width: 95%"><font style="font-size: 10pt">the degree and range of protection any patents will afford against competitors with similar products;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">if and when patents will issue;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">if patents do issue we cannot be sure that we will be able to adequately defend such patents and whether or not we will be able to adequately enforce such patents;&nbsp;or</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">whether or not others will obtain patents claiming aspects similar to those covered by our patent applications.</font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">If the USPTO or other foreign patent office upholds patents issued
to others or if the USPTO grants patent applications filed by others, we may have to:</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="width: 2%">&nbsp;</td>
    <td style="vertical-align: top; width: 3%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="width: 95%"><font style="font-size: 10pt">obtain licenses or redesign our products or processes to avoid infringement;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">stop using the subject matter claimed in those patents;&nbsp;or</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">pay damages.</font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">We may initiate, or others may bring against us, litigation or
administrative proceedings related to intellectual property rights, including proceedings before the USPTO or other foreign patent
office. Any judgment adverse to us in any litigation or other proceeding arising in connection with a patent or patent application
could materially and adversely affect our business, financial condition and results of operations. In addition, the costs of any
such proceeding may be substantial whether or not we are successful.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Our success is also dependent upon the skills, knowledge and experience,
none of which is patentable, of our scientific and technical personnel. To help protect our rights, we require all employees, consultants,
advisors and partners to enter into confidentiality agreements that prohibit the disclosure of confidential information to anyone
outside of our company and require disclosure and assignment to us of their ideas, developments, discoveries and inventions. These
agreements may not provide adequate protection for our trade secrets, know-how or other proprietary information in the event of
any unauthorized use or disclosure or the lawful development by others of such information, and if any of our proprietary information
is disclosed, our business will suffer because our revenues depend upon our ability to license or commercialize our product candidates
and any such events would significantly impair the value of such product candidates.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in; background-color: white"><b><i>Our failure to comply with data protection
laws and regulations could lead to government enforcement actions and significant penalties against us and adversely impact our
operating results.</i></b></p>

<p style="font-size: 10pt; text-indent: 10.35pt; margin: 0pt 0; background-color: white">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0; background-color: white">European Union (&#8220;EU&#8221;) Member
States, Switzerland and other countries have adopted data protection laws and regulation, which impose significant compliance obligations.&nbsp;For
example, the EU Data Protection Directive, as implemented into national laws by the EU Member States, imposes strict obligations
and restrictions on the ability to collect, analyze and transfer personal data, including health data from clinical trials and
adverse event reporting.&nbsp;Data protection authorities from the different EU Member States may interpret the EU Data Protection
Directive and national laws differently, which adds to the complexity of processing personal data in the European Union, and guidance
on implementation and compliance practices is often updated or otherwise revised.&nbsp;Our failure to comply with these laws and
regulations could lead to government enforcement actions and significant penalties against us and adversely impact our operating
results.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 10.35pt; margin: 0pt 0; background-color: white"></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in; background-color: white">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in; background-color: white"><b><i>We are subject to litigation, which could result
in losses or unexpected expenditure of time and resources.&nbsp;</i></b></p>

<p style="font-size: 10pt; text-indent: 10.35pt; margin: 0pt 0; background-color: white">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">From time to time, we may be called upon to defend ourselves against
lawsuits relating to our business.&nbsp;Due to the inherent uncertainties in litigation, we cannot accurately predict the ultimate
outcome of any such proceedings.&nbsp;An unfavorable outcome in any such proceedings could have an adverse impact on our business,
financial condition and results of operations.&nbsp;If our stock price is volatile, we may become involved in securities class
action lawsuits in the future.&nbsp;Any litigation in the future, regardless of its merits, could result in substantial costs and
a diversion of management&#8217;s attention and resources that are needed to successfully run our business.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><b><i>We face an inherent risk of liability in the event that the use or misuse
of our products results in personal injury or death and our product liability insurance coverage may be insufficient.</i></b></p>

<p style="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">If the use or misuse of peramivir, forodesine or any other regulatory
body-approved products we or a partner may sell in the future harms people, we may be subject to costly and damaging product liability
claims brought against us by consumers, healthcare providers, pharmaceutical companies, third-party payors or others. The use of
our product candidates in clinical trials, including post marketing clinical studies, could also expose us to product liability
claims. We cannot predict all of the possible harms or side effects that may result from the use of our products or the testing
of product candidates and, therefore, the amount of insurance coverage we currently have may not be adequate to cover all liabilities
or defense costs we might incur. A product liability claim or series of claims brought against us could give rise to a substantial
liability that could exceed our resources. Even if claims are not successful, the costs of defending such claims and potential
adverse publicity could be harmful to our business.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We face an inherent risk of product liability exposure related to
the testing of our product candidates in human clinical trials and will face even greater risks upon any commercialization by us
of our product candidates. We have product liability insurance covering our clinical trials. Clinical trial and product liability
insurance is becoming increasingly expensive. As a result, we may be unable to obtain sufficient insurance or increase our existing
coverage at a reasonable cost to protect us against losses that could have a material adverse effect on our business. An individual
may bring a product liability claim against us if one of our products or product candidates causes, or is claimed to have caused,
an injury or is found to be unsuitable for consumer use. Any product liability claim brought against us, with or without merit,
could result in:</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="width: 2%">&nbsp;</td>
    <td style="vertical-align: top; width: 3%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="width: 95%"><font style="font-size: 10pt">liabilities that substantially exceed our product liability insurance, which we would then be required to pay from other sources, if available;</font></td></tr>
</table>
<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="width: 2%">&nbsp;</td>
    <td style="vertical-align: top; width: 3%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="width: 95%"><font style="font-size: 10pt">an increase of our product liability insurance rates or the inability to maintain insurance coverage in the future on acceptable terms, or at all;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">withdrawal of clinical trial volunteers or patients;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">damage to our reputation and the reputation of our products, resulting in lower sales;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">regulatory investigations that could require costly recalls or product modifications;</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td></td></tr></table>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="width: 2%">&nbsp;</td>
    <td style="vertical-align: top; width: 3%">&nbsp;</td>
    <td style="width: 95%">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">litigation costs;&nbsp;and</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">the diversion of management&#8217;s attention from managing our business.</font></td></tr>
</table>
<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><b><i>&nbsp;</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><b><i>Insurance coverage is increasingly more costly and difficult to obtain
or maintain.</i></b></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">While we currently have insurance for our business, property, directors
and officers, and our products, insurance is increasingly more costly and narrower in scope, and we may be required to assume more
risk in the future. If we are subject to claims or suffer a loss or damage in excess of our insurance coverage, we will be required
to bear any loss in excess of our insurance limits. If we are subject to claims or suffer a loss or damage that is outside of our
insurance coverage, we may incur significant uninsured costs associated with loss or damage that could have an adverse effect on
our operations and financial position. Furthermore, any claims made on our insurance policies may impact our ability to obtain
or maintain insurance coverage at reasonable costs or at all.&nbsp;</p>

<p style="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><b><i>If our facility incurs damage or power is lost for a significant length
of time, our business will suffer.</i></b></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We store clinical and stability samples at our facility that could
be damaged if our facility incurs physical damage or in the event of an extended power failure. We have backup power systems in
addition to backup generators to maintain power to all critical functions, but any loss of these samples could result in significant
delays in our drug development process.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: justify; text-indent: 27.35pt; margin: 0pt 0">In addition, we store most of our preclinical
and clinical data at our facilities. Duplicate copies of most critical data are secured off-site. Any significant degradation or
failure of our computer systems could cause us to inaccurately calculate or lose our data. Loss of data could result in significant
delays in our drug development process and any system failure could harm our business and operations.</p>

<p style="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><b><i>A significant disruption in our information technology systems or a
cyber-security breach could adversely affect our business.</i></b></p>

<p style="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We are increasingly dependent on information technology systems to
operate our business. Like other companies in our industry, our networks and infrastructure may be vulnerable to cyber-attacks
or intrusions, including by computer hackers, foreign governments, foreign companies or competitors, or may be breached by employee
error, malfeasance or other disruption. A breakdown, invasion, corruption, destruction or interruption of critical information
technology systems could negatively impact operations.&nbsp;If our systems are damaged, fail to function properly or otherwise
become unavailable, we may incur substantial costs to repair or replace them, and we may experience loss of critical data and interruptions
or delays in our ability to perform critical functions, which could adversely affect our business, financial condition or results
of operations. Any compromise of our data security could also result in a violation of applicable privacy and other laws, significant
legal and financial exposure, damage to our reputation, loss or misuse of the information and a loss of confidence in our data
security measures, which could harm our business. There can be no assurance that our efforts to protect our data and information
technology systems will prevent breakdowns or breaches in our systems, or those of third parties with which we do business, and
any such events could adversely affect our business.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><b><i>If we fail to retain our existing key personnel or fail to attract and
retain additional key personnel, the development of our product candidates and commercialization of our products and the related
expansion of our business will be delayed or stopped.</i></b></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We are highly dependent upon our senior management and scientific
team, the unexpected loss of whose services might impede the achievement of our development and commercial objectives. Competition
for key personnel with the experience that we require is intense and is expected to continue to increase. Our inability to attract
and retain the required number of skilled and experienced management, commercial, operational and scientific personnel will harm
our business because we rely upon these personnel for many critical functions of our business.&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><b><i>If because of our use of hazardous materials, we violate any environmental
controls or regulations that apply to such materials, we may incur substantial costs and expenses in our remediation efforts.</i></b></p>

<p style="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Our research and development involves the controlled use of hazardous
materials, chemicals and various radioactive compounds. We are subject to federal, state and local laws and regulations governing
the use, storage, handling and disposal of these materials and some waste products. Accidental contamination or injury from these
materials could occur. In the event of an accident, we could be liable for any damages that result and any liabilities could exceed
our resources. Compliance with environmental laws and regulations or a violation of such environmental laws and regulations could
require us to incur substantial unexpected costs, which would materially and adversely affect our results of operations. &nbsp;&nbsp;&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Risks relating to investing in our common stock</b></p>

<p style="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><b><i>Our existing principal stockholders hold a substantial amount of our
common stock and may be able to influence significant corporate decisions, which may conflict with the interest of other stockholders.</i></b></p>

<p style="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Several of our stockholders own greater than 5% of our outstanding
common stock. Our top ten stockholders own more than 50% of BioCryst and can individually, and as a group, influence our operations
based upon their concentrated ownership. These stockholders, if they act together, may be able to influence the outcome of matters
requiring approval of the stockholders, including the election of our directors and other corporate actions.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 20pt"><b><i>Our stock price has been, and is likely to continue to be, highly volatile,
which could cause the value of an investment in our common stock to decline significantly.</i></b> &nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The market prices for securities of biotechnology companies in general
have been highly volatile and may continue to be highly volatile in the future. Moreover, our stock price has fluctuated frequently,
and these fluctuations are often not related to our financial results. For the twelve months ended December 31, 2017, the 52-week
range of the market price of our stock was from $3.95 to $9.25 per share. The following factors, in addition to other risk factors
described in this section, may have a significant impact on the market price of our common stock:</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="vertical-align: bottom; width: 2%">&nbsp;</td>
    <td style="vertical-align: top; width: 3%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="width: 95%"><font style="font-size: 10pt">announcements of technological innovations or new products by us or our competitors;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">developments or disputes concerning patents or proprietary rights;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">additional dilution through sales of our common stock or other derivative securities;</font></td></tr>
</table>
<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="vertical-align: bottom; width: 2%">&nbsp;</td>
    <td style="vertical-align: top; width: 3%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="width: 95%"><font style="font-size: 10pt">status of new or existing licensing or collaborative agreements and government contracts;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">announcements relating to the status of our programs;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">developments and announcements regarding new and virulent strains of influenza;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">we or our partners achieving or failing to achieve development milestones;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">publicity regarding actual or potential medical results relating to products under development by us or our competitors;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">publicity regarding certain public health concerns for which we are or may be developing treatments;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">regulatory developments in both the United States and foreign countries;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
</table>

<p style="margin: 0">&nbsp;</p>

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<p style="margin: 0"></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="vertical-align: bottom; width: 2%">&nbsp;</td>
    <td style="vertical-align: top; width: 3%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="width: 95%"><font style="font-size: 10pt">public concern as to the safety of pharmaceutical products;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">actual or anticipated fluctuations in our operating results;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">changes in financial estimates or recommendations by securities analysts;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">changes in the structure of healthcare payment systems, including developments in price control legislation;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">announcements by us or our competitors of significant acquisitions, strategic partnerships, joint ventures or capital commitments;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">additions or departures of key personnel or members of our board of directors;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">purchases or sales of substantial amounts of our stock by existing stockholders, including officers or directors;</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">economic and other external factors or other disasters or crises; and</font></td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td style="vertical-align: bottom">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td><font style="font-size: 10pt">period-to-period fluctuations in our financial results.</font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><b><i>Future sales and issuances of securities may dilute the ownership interests
of our current stockholders and cause our stock price to decline.</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Future sales of our common stock by current stockholders into the
public market could cause the market price of our stock to fall. As of January&nbsp;31, 2018, there were 98,606,110 shares of our
common stock outstanding. We may from time to time issue securities in relation to a license arrangement, collaboration, merger
or acquisition. We may also sell, for our own account, shares of common stock or other equity securities, from time to time at
prices and on terms to be determined at the time of sale.</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">As of January&nbsp;31, 2018, there were 14,470,341 stock options and
restricted stock units outstanding, 484,077 shares available for issuance under our Amended and Restated Stock Incentive Plan,
and 277,391 shares available for issuance under our Employee Stock Purchase Plan. In addition, we could also make equity compensation
grants outside of our Stock Incentive Plan. The shares underlying existing stock options, restricted stock units and possible future
stock options, stock appreciation rights and stock awards have been registered pursuant to registration statements on Form S-8.</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>



<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">If some or all of such shares are sold or otherwise issued into the
public market over a short period of time, our current stockholders&#8217; ownership interests may be diluted and the value of
all publicly traded shares is likely to decline, as the market may not be able to absorb those shares at then-current market prices.
Additionally, such sales and issuances may make it more difficult for us to sell equity securities or equity-related securities
in the future at a time and price that our management deems acceptable, or at all.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In March 2017, we entered into a Registration Rights Agreement with
entities affiliated with Baker Bros. Advisors LP (the &#8220;Baker Entities&#8221;) to provide that, if requested, we will register
the shares of our common stock beneficially owned by the Baker Entities for resale under the Securities Act. Our registration obligations
pursuant to the Registration Rights Agreement cover all shares then held or thereafter acquired by the Baker Entities, for up to
ten years, and include our obligation to facilitate certain underwritten public offerings of our common stock by the Baker Entities
in the future. On May 10, 2017, we filed a registration statement on Form S-3 with respect to 11,710,951 shares of common stock
held by the Baker Entities. If the Baker Entities, by exercising their underwriting rights or otherwise, sell a large number of
our shares, or the market perceives that the Baker Entities intend to sell a large number of our shares, this could adversely affect
the market price of our common stock.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><b><i>We have anti-takeover provisions in our corporate charter documents
that may result in outcomes with which you do not agree.</i></b></p>

<p style="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Our board of directors has the authority to issue up to 4,800,000
shares of undesignated preferred stock and to determine the rights, preferences, privileges and restrictions of those shares without
further vote or action by our stockholders. The rights of the holders of any preferred stock that may be issued in the future may
adversely affect the rights of the holders of common stock. The issuance of preferred stock could make it more difficult for third
parties to acquire a majority of our outstanding voting stock.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In addition, our certificate of incorporation provides for staggered
terms for the members of the board of directors and supermajority approval of the removal of any member of the board of directors
and prevents our stockholders from acting by written consent or from calling special meetings of stockholders. Our certificate
also requires supermajority approval of any amendment of these provisions. These provisions and other provisions of our by-laws
and of Delaware law applicable to us could delay or make more difficult a merger, tender offer or proxy contest involving us.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><b><i>We have never paid dividends on our common stock and do not anticipate
doing so in the foreseeable future.</i></b></p>

<p style="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We have never paid cash dividends on our stock. We currently intend
to retain all future earnings, if any, for use in the operation of our business. Accordingly, we do not anticipate paying cash
dividends on our common stock in the foreseeable future.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Information Regarding Forward-Looking Statements</b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">This filing contains forward-looking statements within the meaning
of Section&nbsp;21E of the Securities Exchange Act of 1934, as amended, which are subject to the &#8220;safe harbor&#8221; created
in Section&nbsp;21E. All statements other than statements of historical facts contained in this filing are forward-looking statements.
These forward-looking statements can generally be identified by the use of words such as &#8220;may,&#8221; &#8220;will,&#8221;
&#8220;intends,&#8221; &#8220;plans,&#8221; &#8220;believes,&#8221; &#8220;anticipates,&#8221; &#8220;expects,&#8221; &#8220;estimates,&#8221;
&#8220;predicts,&#8221; &#8220;potential,&#8221; the negative of these words or similar expressions. Statements that describe our
future plans, strategies, intentions, expectations, objectives, goals or prospects are also forward-looking statements. Discussions
containing these forward-looking statements are principally contained in &#8220;Business,&#8221; &#8220;Risk Factors&#8221; and
&#8220;Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations,&#8221; as well as any amendments
we make to those sections in filings with the SEC. These forward-looking statements include, but are not limited to, statements
about:</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&#8226;</td>
    <td colspan="2">&nbsp;</td>
    <td style="vertical-align: top">statements about the benefits of the transactions contemplated by the Merger Agreement, including future
financial and operating results;</td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&#8226;</td>
    <td colspan="2">&nbsp;</td>
    <td style="vertical-align: top">Idera's and BioCryst's plans, objectives, expectations and intentions;</td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&#8226;</td>
    <td colspan="2">&nbsp;</td>
    <td style="vertical-align: top">the expected timing of completion of the transactions contemplated by the Merger Agreement; and other
statements relating to the Mergers that are not historical facts;</td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&#8226;</td>
    <td colspan="2">&nbsp;</td>
    <td style="vertical-align: top">the preclinical development, clinical development, commercialization, or post-marketing studies of our product candidates and products, including our HAE program, peramivir, galidesivir, and early stage discovery programs;</td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td colspan="2">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">the potential funding from our contracts with NIAID/HHS and BARDA/HHS for the development of galidesivir;</font></td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td colspan="2">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">the potential for government stockpiling orders of peramivir, additional regulatory approvals of peramivir or milestones royalties or profit from sales of peramivir by us or our partners;</font></td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td colspan="2">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">the potential use of peramivir as a treatment for H1N1, H5N1, and H7N9 or other strains of influenza;</font></td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td colspan="2">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">the implementation of our business model, strategic plans for our business, products, product candidates and technology;</font></td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td colspan="2">&nbsp;</td>
    <td><font style="font-size: 10pt">our ability to establish and maintain collaborations or out-license rights to our product candidates;</font></td></tr>
<tr>
    <td style="width: 5%">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 6%">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 85%">&nbsp;</td></tr>
</table>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td colspan="2">&nbsp;</td>
    <td><font style="font-size: 10pt">plans, programs, progress and potential success of our collaborations, including SUL for peramivir, Mundipharma for Mundesine
and Shionogi and Green Cross for peramivir in their territories;</font></td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td colspan="2">&nbsp;</td>
    <td><font style="font-size: 10pt">Royalty Sub&#8217;s ability to service its payment obligations in respect of the PhaRMA Notes;</font></td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td colspan="2">&nbsp;</td>
    <td><font style="font-size: 10pt">the Currency Hedge Agreement entered into by us in connection with the issuance by Royalty Sub of the PhaRMA Notes;</font></td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td colspan="2">&nbsp;</td>
    <td><font style="font-size: 10pt">the scope of protection we are able to establish and maintain for intellectual property rights covering our product candidates and technology;</font></td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td colspan="2">&nbsp;</td>
    <td><font style="font-size: 10pt">our ability to operate our business without infringing the intellectual property rights of others;</font></td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td colspan="2">&nbsp;</td>
    <td><font style="font-size: 10pt">estimates of our expenses, revenues, capital requirements, annual cash utilization, and our needs for additional financing;</font></td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td colspan="2">&nbsp;</td>
    <td><font style="font-size: 10pt">our ability to continue as a going concern;</font></td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td colspan="2">&nbsp;</td>
    <td><font style="font-size: 10pt">the timing or likelihood of regulatory filings or regulatory agreements, deferrals, and approvals;</font></td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td colspan="2">&nbsp;</td>
    <td><font style="font-size: 10pt">our ability to raise additional capital to fund our operations or repay our recourse debt obligations;</font></td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td colspan="2">&nbsp;</td>
    <td><font style="font-size: 10pt">our ability to comply with the covenants as set forth in the agreements governing our debt obligations;</font></td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td colspan="2">&nbsp;</td>
    <td><font style="font-size: 10pt">our financial performance;&nbsp;and</font></td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td colspan="2">&nbsp;</td>
    <td colspan="2" style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td colspan="2">&nbsp;</td>
    <td><font style="font-size: 10pt">competitive companies, technologies and our industry.</font></td></tr>
<tr>
    <td style="width: 5%">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 6%">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 85%">&nbsp;</td></tr>
</table>
<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">These statements relate to future events or to our future financial
performance and involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance
or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking
statements. Factors that may cause actual results to differ materially from current expectations include, among other things, those
listed under &#8220;Risk Factors.&#8221; Any forward-looking statement reflects our current views with respect to future events
and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, industry
and future growth. Except as required by law, we assume no obligation to update or revise these forward-looking statements for
any reason, even if new information becomes available in the future.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 10%"><font style="font-size: 10pt"><b><a name="a_003"></a>ITEM 1B.</b></font></td>
    <td style="width: 1%; text-align: justify">&nbsp;</td>
    <td style="width: 89%; text-align: justify"><font style="font-size: 10pt"><b><i>UNRESOLVED STAFF COMMENTS</i></b></font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">None.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 10%"><font style="font-size: 10pt"><b><a name="a_004"></a>ITEM 2.</b></font></td>
    <td style="width: 1%; text-align: justify">&nbsp;</td>
    <td style="width: 89%; text-align: justify"><font style="font-size: 10pt"><b><i>PROPERTIES</i></b></font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We lease property in both Durham, North Carolina and Birmingham, Alabama.
Our headquarters, including our clinical and regulatory operations, are based in Durham, while our principal research facility
is located in Birmingham. We currently lease approximately 17,250 square feet in Durham through June 30, 2020 and lease approximately
32,000 square feet in Birmingham through October 31, 2026. We believe that our facilities are adequate for our current and planned
future operations.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 10%"><font style="font-size: 10pt"><b><a name="a_005"></a>ITEM 3.</b></font></td>
    <td style="width: 1%; text-align: justify">&nbsp;</td>
    <td style="width: 89%; text-align: justify"><font style="font-size: 10pt"><b><i>LEGAL PROCEEDINGS</i></b></font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">None.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 10%"><font style="font-size: 10pt"><b><a name="a_006"></a>ITEM 4.</b></font></td>
    <td style="width: 1%; text-align: justify">&nbsp;</td>
    <td style="width: 89%; text-align: justify"><font style="font-size: 10pt"><b><i>MINE SAFETY DISCLOSURES</i></b></font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Not applicable.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0"><br style="clear: both">
</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"></p>

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<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>PART&nbsp;II</b></p>

<p style="font-size: 10pt; text-align: center; text-indent: 0.5in; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 10%"><font style="font-size: 10pt"><b><a name="a_007"></a>ITEM 5.</b></font></td>
    <td style="width: 1%; text-align: justify">&nbsp;</td>
    <td style="width: 89%; text-align: justify"><font style="font-size: 10pt"><b><i>MARKET FOR REGISTRANT&#8217;S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES</i></b></font></td></tr>
</table>
<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b><u>Market Information</u></b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Our common stock trades on the NASDAQ Global Select Market under the
symbol BCRX. The following table sets forth the low and high sales prices of our common stock as reported by the NASDAQ Global
Select Market for each quarter in 2017 and 2016:</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" align="CENTER" style="border-collapse: collapse; width: 85%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; text-align: center">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Low</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">High</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Low</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">High</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 35%; font-size: 10pt; text-align: left">First quarter</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 13%; font-size: 10pt; text-align: right">4.20</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 13%; font-size: 10pt; text-align: right">9.25</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 2%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 13%; font-size: 10pt; text-align: right">1.63</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 13%; font-size: 10pt; text-align: right">10.24</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Second quarter</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">$</td><td style="font-size: 10pt; text-align: right">5.02</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">$</td><td style="font-size: 10pt; text-align: right">8.80</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">$</td><td style="font-size: 10pt; text-align: right">2.49</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">$</td><td style="font-size: 10pt; text-align: right">4.03</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Third quarter</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">$</td><td style="font-size: 10pt; text-align: right">3.95</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">$</td><td style="font-size: 10pt; text-align: right">6.22</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">$</td><td style="font-size: 10pt; text-align: right">2.82</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">$</td><td style="font-size: 10pt; text-align: right">5.80</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Fourth quarter</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">$</td><td style="font-size: 10pt; text-align: right">4.12</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">$</td><td style="font-size: 10pt; text-align: right">5.35</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">$</td><td style="font-size: 10pt; text-align: right">3.75</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">$</td><td style="font-size: 10pt; text-align: right">7.56</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
</table>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The last sale price of the common stock on January&nbsp;31, 2018 as
reported by the NASDAQ Global Select Market was $4.50 per share.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b><u>Holders</u></b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">As of January&nbsp;31, 2018, there were approximately 183 holders
of record of our common stock.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b><u>Dividends</u></b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We have never paid cash dividends and do not anticipate paying cash
dividends in the foreseeable future.</p>

<p style="font-size: 10pt; margin: 0pt 0"><b></b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b><u>Stock Performance Graph</u></b></p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">This performance graph is not &#8220;soliciting material,&#8221; is
not deemed filed with the SEC and is not to be incorporated by reference in any filing by us under the Securities Act or the Exchange
Act, whether made before or after the date hereof and irrespective of any general incorporation language in any such filing. The
stock price performance shown on the graph is not necessarily indicative of future price performance.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 0.25in"><b>PERFORMANCE GRAPH FOR BIOCRYST</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>Indexed Comparison Since 2012</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0; color: Red"><img src="graph_1.jpg" alt=""></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; text-align: center; margin: 0pt 0"></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center">Beginning<br> Investment<br> 12/31/12</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center">Investment<br> at 12/31/13</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center">Investment<br> at 12/31/14</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center">Investment<br> at 12/31/15</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center">Investment<br> at 12/31/16</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center">Investment<br> at 12/31/17</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 34%; font-size: 10pt; text-align: left">BioCryst Pharmaceuticals, Inc.</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 8%; font-size: 10pt; text-align: right">100.00</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 8%; font-size: 10pt; text-align: right">535.21</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 8%; font-size: 10pt; text-align: right">856.34</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 8%; font-size: 10pt; text-align: right">726.76</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 8%; font-size: 10pt; text-align: right">445.77</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 8%; font-size: 10pt; text-align: right">345.77</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">NASDAQ Stock Market (U.S.)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">100.00</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">133.48</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">150.12</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">150.84</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">170.48</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">206.91</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">NASDAQ&nbsp;Pharmaceutical&nbsp;Stocks</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">100.00</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">135.68</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">165.29</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">174.27</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">172.37</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">205.33</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
</table>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The above graph measures the change in a $100 investment in our common
stock based on its closing price of $1.42 on December&nbsp;31, 2012 and its year-end closing price thereafter. Our relative performance
is then compared with the CRSP Total Return Indexes for the NASDAQ Stock Market (U.S.) and NASDAQ Pharmaceutical Stocks.</p>

<p style="font-size: 10pt; margin: 0pt 0"><b>&nbsp;</b></p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Recent Sales of Unregistered Securities: None.</b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Issuer Purchases of Equity Securities</b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">There were no repurchases of our common stock or shares surrendered
to satisfy tax obligations during the fourth quarter of 2017.&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 10%"><font style="font-size: 10pt"><b><a name="a_008"></a>ITEM 6.</b></font></td>
    <td style="width: 1%; text-align: justify">&nbsp;</td>
    <td style="width: 89%; text-align: justify"><font style="font-size: 10pt"><b><i>SELECTED FINANCIAL DATA</i></b></font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The selected Statement of Operations Data and Balance Sheet data with
respect to the years ended December&nbsp;31, 2017, 2016, 2015, 2014, and 2013 set forth below are derived from our consolidated
financial statements. The selected financial data set forth below should be read in conjunction with &#8220;Management&#8217;s
Discussion and Analysis of Financial Condition and Results of Operations&#8221; contained in Item&nbsp;7 below and our consolidated
financial statements and the notes thereto appended to this annual report.</p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="19" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Years Ended December&nbsp;31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; text-align: center">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="19" style="font-size: 10pt; font-weight: bold; text-align: center">(In thousands, except per share amounts)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left">Statement of Operations Data:</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="width: 35%; font-size: 10pt; text-align: left">Total revenues</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">25,186</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">26,353</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">48,257</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">13,608</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">17,331</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Cost of product sold</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,142</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,297</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,368</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Research and development expenses</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">66,962</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">61,008</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">72,758</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">51,796</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">41,943</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">General and administrative expenses</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">13,933</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">11,253</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">13,047</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">7,461</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">6,007</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Royalty expense</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">560</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">402</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">528</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">121</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">98</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Loss from operations</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(57,411</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(48,607</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(39,444</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(45,771</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(30,717</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Net loss</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(65,782</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(55,144</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(43,019</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(45,189</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(30,108</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Basic and diluted net loss per share</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">$</td><td style="font-size: 10pt; text-align: right">(0.78</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">$</td><td style="font-size: 10pt; text-align: right">(0.75</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">$</td><td style="font-size: 10pt; text-align: right">(0.59</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">$</td><td style="font-size: 10pt; text-align: right">(0.68</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">$</td><td style="font-size: 10pt; text-align: right">(0.55</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">Weighted average shares outstanding</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">84,451</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">73,699</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">72,901</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">66,773</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">55,216</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
</table>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="19" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">As of December&nbsp;31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; text-align: center">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td colspan="19" style="font-size: 10pt; font-weight: bold; text-align: center">(In thousands)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left">Balance Sheet Data:</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="width: 35%; font-size: 10pt; text-align: left">Cash, cash equivalents and investments</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">158,978</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">65,122</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">100,858</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">114,038</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">40,788</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">Receivables</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">6,117</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">8,768</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">6,243</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">9,490</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,115</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">Inventory</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">500</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,612</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">683</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Total assets</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">178,259</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">89,847</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">122,359</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">134,238</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">45,791</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Long-term deferred revenue</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">8,184</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">9,674</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3,552</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">4,736</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Non-recourse notes payable</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">28,682</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">28,243</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">27,804</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">27,364</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">26,925</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Senior credit facility</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">23,214</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">22,777</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Accumulated deficit</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(631,843</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(566,061</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(510,917</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(467,898</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(422,709</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Total stockholders&#8217; equity (deficit)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">83,767</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,578</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">47,724</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">75,635</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1,126</td><td style="font-size: 10pt; text-align: left">)</td></tr>
</table>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 10%"><font style="font-size: 10pt"><b><a name="a_009"></a>ITEM 7.</b></font></td>
    <td style="width: 1%; text-align: justify">&nbsp;</td>
    <td style="width: 89%; text-align: justify"><font style="font-size: 10pt"><b><i>MANAGEMENT&#8217;S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</i></b></font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><i>This Annual Report on Form&nbsp;10-K contains certain statements
of a forward-looking nature relating to future events or the future financial performance of BioCryst. Such statements are only
predictions and the actual events or results may differ materially from the results discussed in the forward-looking statements.
Factors that could cause or contribute to such differences include those discussed below and elsewhere in this report, as well
as those discussed in other filings made by BioCryst with the Securities and Exchange Commission.</i></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><i>The following Management&#8217;s Discussion and Analysis (&#8220;MD&amp;A&#8221;)
is intended to help the reader understand our results of operations and financial condition. MD&amp;A is provided as a supplement
to, and should be read in conjunction with, our audited financial statements and the accompanying notes to the financial statements
and other disclosures included in this Annual Report on Form&nbsp;10-K (including the disclosures under &#8220;Item&nbsp;1A. Risk
Factors&#8221;).</i></p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Cautionary Statement</b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The discussion herein contains forward-looking statements within the
meaning of Section&nbsp;21E of the Securities Exchange Act of 1934, as amended, which are subject to the &#8220;safe harbor&#8221;
created in Section&nbsp;21E. Forward looking statements regarding our financial condition and our results of operations that are
based upon our consolidated financial statements, which have been prepared in accordance with accounting principles generally accepted
within the United States (&#8220;U.S. GAAP&#8221;), as well as projections for the future. The preparation of these financial statements
requires our management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses,
and related disclosure of contingent assets and liabilities. We evaluate our estimates on an ongoing basis. Our estimates are based
on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. The results
of our estimates form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent
from other sources.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We operate in a highly competitive environment that involves a number
of risks, some of which are beyond our control. We are subject to risks common to biotechnology and biopharmaceutical companies,
including risks inherent in our drug discovery, drug development and commercialization efforts, clinical trials, uncertainty of
regulatory actions and marketing approvals, reliance on collaborative partners, enforcement of patent and proprietary rights, the
need for future capital, competition associated with products, potential competition associated with our product candidates and
retention of key employees. In order for any of our product candidates to be commercialized, it will be necessary for us, or our
collaborative partners, to conduct clinical trials, demonstrate efficacy and safety of the product candidate to the satisfaction
of regulatory authorities, obtain marketing approval, enter into manufacturing, distribution and marketing arrangements, and obtain
market acceptance and adequate reimbursement from government and private insurers. We cannot provide assurance that we will generate
significant revenues or achieve and sustain profitability in the future. In addition, we can provide no assurance that we will
have sufficient funding to meet our future capital requirements. Statements contained in Management&#8217;s Discussion and Analysis
of Financial Condition and Results of Operations and elsewhere in this report which are not historical facts are, or may constitute,
forward-looking statements. Forward-looking statements involve known and unknown risks that could cause our actual results to differ
materially from expected results. The most significant known risks are discussed in the section entitled &#8220;Risk Factors.&#8221;
Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results,
levels of activity, performance or achievements.&nbsp;We caution you not to place undue reliance on any forward-looking statements.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">Our revenues are difficult to predict and
depend on numerous factors, including the prevalence and severity of influenza in regions for which peramivir has received regulatory
approval, seasonality of influenza, commercialization efforts and resources dedicated to our products by our collaborative partners,
ongoing discussions with government agencies regarding future peramivir and/or galidesivir development and stockpiling procurement,
as well as entering into, or modifying, licensing agreements for our product candidates. Furthermore, revenues related to our collaborative
development activities are dependent upon the progress toward and the achievement of developmental milestones by us or our collaborative
partners.</p>




<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Our operating expenses are also difficult to predict and depend on
several factors, including research and development expenses (and whether these expenses are reimbursable under government contracts),
drug manufacturing, and clinical research activities, the ongoing requirements of our development programs, and the availability
of capital and direction from regulatory agencies, which are difficult to predict. Management may be able to control the timing
and level of research and development and general and administrative expenses, but many of these expenditures will occur irrespective
of our actions due to contractually committed activities and/or payments.</p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">As a result of these factors, we believe that period to period comparisons
are not necessarily meaningful and you should not rely on them as an indication of future performance. Due to all of the foregoing
factors, it is possible that our operating results will be below the expectations of market analysts and investors. In such event,
the prevailing market price of our common stock could be materially adversely affected.</p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Overview</b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We are a biotechnology company that designs, optimizes and develops
novel small molecule drugs that block key enzymes involved in the pathogenesis of diseases. We focus on oral treatments for rare
diseases in which significant unmet medical needs exist and that align with our capabilities and expertise. We integrate the disciplines
of biology, crystallography, medicinal chemistry and computer modeling to discover and develop small molecule pharmaceuticals through
the process known as structure-guided drug design.</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>




<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 20pt"><b><i>Critical Accounting Policies and Estimates</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The accompanying discussion and analysis of our financial condition
and results of operations are based upon our consolidated financial statements and the related disclosures, which have been prepared
in accordance with U.S. GAAP. The preparation of these consolidated financial statements requires us to make estimates and judgments
that affect the reported amounts of assets, liabilities, revenues, expenses and related disclosure of contingent assets and liabilities.
We evaluate our estimates, judgments and the policies underlying these estimates on a periodic basis, as situations change, and
regularly discuss financial events, policies, and issues with members of our audit committee and our independent registered public
accounting firm. We routinely evaluate our estimates and policies regarding revenue recognition, administration, inventory and
manufacturing, taxes, stock-based compensation, research and development, consulting and other expenses and any associated liabilities.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Recent Corporate Highlights</b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 22.5pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 22.5pt"><B><I>Agreement and Plan of Merger and
Subsequent Event</I></B></P>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>&nbsp;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt">As further described in Note 13 of the
consolidated financial statements, in January 2018, we entered into an Agreement and Plan of Merger with Idera and affiliated entities,
to form a new enterprise focused on the development and commercialization of medicines to serve patients suffering from rare diseases.
We expect to consummate the Mergers in the second quarter of 2018. However, we have prepared our MD&amp;A and these consolidated
financial statements as if we are an independent company without giving effect to the Mergers.</P>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt"><b><i>&nbsp;</i></b>&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">On March 6, 2018, a purported stockholder of&nbsp;BioCryst&nbsp;filed
a putative class action lawsuit against&nbsp;BioCryst, the BioCryst board of directors, Idera, Holdco, Merger Sub A and Merger
Sub B&nbsp;in the United States District Court for the District of Delaware, captioned&nbsp;<i>Melvyn Klein v. BioCryst Pharmaceuticals,
Inc., et al.</i>, Case No. 1:18-cv-00358-UNA. The complaint alleges that the&nbsp;defendants violated Sections 14(a) and 20(a)
of the Exchange Act because the preliminary Form S-4 filed with&nbsp;the Securities and Exchange Commission allegedly contains
material omissions and misstatements.&nbsp;The&nbsp;complaint seeks, among other things, injunctive relief preventing the consummation
of the Mergers until&nbsp;additional disclosures are made, and damages. The defendants believe that the action is without merit.</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 9pt"><b><i>RAPIVAB/RAPIACTA/PERAMIFLU/ALPIVAB (peramivir injection)</i></b></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">Peramivir (i.e., product sold or marketed
under the RAPIVAB, RAPIACTA, and PERAMIFLU trade names) is approved for commercial sale in the United States, Canada, Japan, Taiwan
and Korea and has a pending approval in the European Union. We receive royalty revenue from commercial and governmental stockpiling
sales of the product from our partners with the exception of U.S. Government stockpiling sales for which we remain directly responsible.</p>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">On January 8, 2017, we announced that Health
Canada approved RAPIVAB<B><SUP>&reg;</SUP></B> for treatment of acute, uncomplicated influenza in Canada. The product is not currently
available in Canada.<B>&nbsp;</B>We and Seqirus have entered into the formal dispute resolution process under the License Agreement
to resolve decisions related to the collaboration.</P>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">On January 30, 2017, we announced that the
European Medicines Agency (&ldquo;EMA&rdquo;) accepted our Marketing Authorization Application (&ldquo;MAA&rdquo;) for treatment
of symptoms typical of influenza in adults 18&nbsp;years and older. The acceptance of the MAA begins the review process by the
EMA under the centralized licensing procedure for all 28 member states of the European Union, Norway and Iceland. On February 22,
2018, the CHMP adopted a positive opinion for the treatment of uncomplicated influenza in adults and children from the age of 2
years and thereby recommended the granting of a Marketing Authorization for ALPIVAB (peramivir).&nbsp;The final EMA decision is
expected in the second quarter of 2018.</P>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">On September 21, 2017, we announced that the U.S. Food and Drug Administration
(&#8220;FDA&#8221;) had approved a supplemental New Drug Application for RAPIVAB (peramivir injection), extending its availability
for the treatment of acute uncomplicated influenza to pediatric patients 2 years and older who have been symptomatic for no more
than two days.</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font-size: 10pt; margin: 0pt 0"><b><i>&nbsp;</i></b></p>

<p style="font-size: 10pt; text-align: justify; text-indent: 27pt; margin: 0pt 0"><b><i>BCX7353</i></b></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">On September 5, 2017, we announced final results from the Phase 2
APeX-1 clinical trial in HAE patients. This final analysis evaluated data from all patients in Parts 1, 2 and 3 of the trial and
evaluated four doses of BCX7353 ranging from 62.5 mg up to 350 mg for 28 days. The primary efficacy endpoint of APeX-1 was the
number of angioedema attacks. Efficacy analyses were conducted for HAE attacks reported over the entire dosing interval (Days 1
through 28) and during the dosing period in which plasma concentrations of BCX7353 should be at steady-state conditions (Days 8
through 28). Secondary efficacy endpoints included severity and duration of angioedema attacks and measures of health-related quality
of life. Safety was characterized through evaluation of adverse events and laboratory testing. Pharmacokinetics and pharmacodynamic
effects were assessed through measurement of plasma drug levels and kallikrein inhibition.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Seventy-five subjects were randomized and included in the final analysis
of pooled data from Parts 1, 2 and 3: 7 at 62.5 mg, 14 at 125 mg, 14 at 250 mg and 18 at 350 mg of BCX7353 QD; and 22 placebo.
The qualifying attack rate was approximately 1/week. Baseline characteristics were generally well balanced across the treatment
groups. Compliance with daily study drug dosing for 28 days was excellent (&#8805; 98% across all treatment groups). Subjects recorded
angioedema symptoms in a diary; diary records were reviewed and attacks adjudicated by an independent expert group. The primary
endpoint of the trial was the number of HAE attacks. The pre-specified per-protocol final analysis included data on a total of
67 subjects with Type 1 or Type 2 HAE completing &gt; 90% of planned study drug doses. The percentage reductions by treatment group
in the mean rate of angioedema attacks for the pre-defined effective dosing period (weeks 2 through 4) in BCX7353 treated subjects
are indicated in the table below. Results from a pre-planned analysis of peripheral and abdominal attacks are also shown. Similar
results to those shown were seen in the analysis of weeks 1 through 4 and the intent-to-treat population.</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td>&nbsp;</td>
    <td style="text-align: center">&nbsp;</td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</td>
    <td colspan="3" style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid">
        <p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>Percentage change in attacks vs. placebo (p-Value)</b></p>
        <p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>Per protocol population, weeks 2-4 of treatment</b></p></td></tr>
<tr>
    <td style="width: 9%">&nbsp;</td>
    <td style="width: 20%; border-bottom: black 1pt solid; border-right: black 1pt solid; text-align: center">&nbsp;</td>
    <td style="vertical-align: bottom; width: 3%; border-bottom: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font-size: 10pt">N</font></td>
    <td style="vertical-align: bottom; width: 26%; border-bottom: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font-size: 10pt">All Attacks</font></td>
    <td style="vertical-align: bottom; width: 21%; border-bottom: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font-size: 10pt">Peripheral Attacks</font></td>
    <td style="vertical-align: bottom; width: 21%; border-bottom: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font-size: 10pt">Abdominal Attacks</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><font style="font-size: 10pt">BCX7353 350 mg</font></td>
    <td style="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">14</font></td>
    <td style="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">-58% (p &lt; 0.001)</font></td>
    <td style="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">-90% (p &lt; 0.001)</font></td>
    <td style="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">-5% (p=0.884)</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><font style="font-size: 10pt">BCX7353 250 mg</font></td>
    <td style="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">12</font></td>
    <td style="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">-46% (p=0.006)</font></td>
    <td style="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">-66% (p=0.005)</font></td>
    <td style="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">-13% (p=0.700)</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><font style="font-size: 10pt">BCX7353 125 mg</font></td>
    <td style="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">13</font></td>
    <td style="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">-73% (p &lt; 0.001)</font></td>
    <td style="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">-79% (p &lt; 0.001)</font></td>
    <td style="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">-63% (p=0.048)</font></td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><font style="font-size: 10pt">BCX7353 62.5 mg</font></td>
    <td style="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">7</font></td>
    <td style="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">-7% (p=0.715)</font></td>
    <td style="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">-25% (p=0.371)</font></td>
    <td style="vertical-align: bottom; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt">+22% (p=0.578)</font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The 125 mg dose level showed statistically significant and similar
benefit for all attacks, and also when split into abdominal attacks and peripheral attacks. In contrast, at the 250 mg and 350
mg dose levels, there was no statistically significant effect for abdominal attacks, despite strong and statistically significant
effects on peripheral attacks. Based on these findings, it is likely that subjects in the 250 mg and 350 mg arms recorded transient
drug-related abdominal AEs as HAE attack symptoms in their diary. As expected, the lowest dose tested (62.5 mg QD) showed no statistically
significant differences in attack rates (total, or when split into abdominal and peripheral) compared with placebo. The range of
doses studied and associated results complete the dose response evaluation required to inform Phase 3 dose selection.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">An analysis of the proportion of subjects achieving levels of percent
reduction in attacks was also performed; this analysis compared on-study attack rate to qualifying attack rate for each subject.
Response levels were defined as reductions of &#8805;50%, &#8805;70%, or &#8805;90%. Results for all dose groups indicated that the dose
group with the highest proportion of responders using each definition was the 125 mg group, and was 4 to 5 times greater than the
proportion of responders in the placebo group. The proportion of responders in the 62.5 mg group was similar to placebo.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In addition, we performed an exploratory ad hoc analysis of the placebo,
62.5 mg QD and 125 mg QD dose groups to examine the relationship of change in attack rate to dose and the effect of achieving target
drug levels. The 125 mg group had a mean change in attack rate of -0.73 per week (improvement from qualifying) compared to -0.07
attacks per week for placebo and -0.24 attacks per week for the 62.5 mg QD dose group. The effect of achieving the target drug
level (equivalent to 4 times EC50 against plasma kallikrein) at trough measured at steady state on study day 15 was also explored
for subjects randomized to the placebo, 62.5 mg and 125 mg levels. Placebo subjects were assigned a zero drug level value. Subjects
were categorized as achieving or not achieving the target level and the proportion of subjects in each of these two categories
who had responses of reductions in &#8805;50%, &#8805;70%, or &#8805;90% in attack rate was compared and the odds ratios calculated. The
odds for subjects achieving &#8805;50%, &#8805;70%, or &#8805;90% responses if the target drug level was met or exceeded were 5.6, 12.9
and 26.4 times higher respectively than for subjects who did not meet or exceed target drug level.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">A significant increase in the proportion of attack-free subjects was
observed in the 125 mg QD dose group compared to placebo (46% versus 10%, p= 0.033). Furthermore, a clinically important and statistically
significant improvement in patient quality of life total score, measured using the AE-QoL (Quality of Life) instrument, was seen
in the 125 mg QD group compared to placebo (p &lt; 0.001). The mean improvement in the 125 mg QD group was more than four times
the minimum clinically important difference.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Oral BCX7353 once-daily for 28 days was generally safe and well tolerated
in subjects with HAE. No new clinically significant safety findings were seen in Part 3 of the trial from the two earlier component
parts of the trial. Overall in the entire trial, there was one serious adverse event of moderate gastrointestinal infection that
was determined by the investigator not to be drug-related. Study drug was discontinued before day 28 in three subjects in the BCX7353
350 mg treatment arm (unrelated pre-existing liver disorder; related gastroenteritis with liver disorder; and related vomiting/abdominal
cramps). The most common treatment-emergent AEs in descending order of frequency were the common cold, headache, diarrhea, nausea
and abdominal pain. Gastrointestinal AEs were infrequent at the 125 mg and 62.5 mg dose levels, and there were no clinically significant
laboratory abnormalities at these dose levels, though increases in liver enzymes were observed in several subjects at higher dose
levels. Adverse events in the gastrointestinal system organ class were more frequent in the 350 mg QD and 250 mg QD dose groups
compared to placebo. Elevated liver enzymes were reported in several subjects, and an analysis of liver enzyme safety tests including
alanine aminotransferase (&#8220;ALT&#8221;) levels showed that of 4 subjects who had elevations of ALT to more than or equal to
3 times the upper limit of normal (&#8220;ULN&#8221;), all 4 had prior exposure to androgens, 3 were in the 350 mg QD group, 1
was in the 250 mg QD group, and 3 had baseline (prior to study drug administration) elevations in ALT of close to or greater than
3 times the ULN.</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Steady state BCX7353 plasma levels and kallikrein inhibition levels
were consistent with previous analyses. Steady state trough drug levels (24 hours after dosing) exceeded the proposed target threshold
for efficacy of 4 times the 50% effective concentration (EC 50) of 9ng/ml in 0%, 64%, 100% and 100% of subjects at the 62.5 mg,
125 mg, 250 mg and 350 mg dose levels, respectively.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">In the fourth quarter of 2017, we completed
regulatory interactions with the FDA and EMA and reached agreement on the Phase 3 program requirements to support NDA and MAA submissions
for prophylactic treatment of HAE with BCX7353. Based upon this agreement, we began screening patients in the APeX-S and APeX-2
clinical trials, which are the significant aspects of the remaining development program. Accordingly, we have initiated a 24-week
randomized, double-blind, placebo-controlled Phase 3 clinical trial studying two doses of BCX7353 (&ldquo;APeX-2&rdquo;). Patients
will roll-over into a 24-week safety extension. Separately, we initiated a long-term safety trial (&ldquo;APeX-S&rdquo;), which
will enroll at least 160 patients who will be randomized to the two doses of BCX7353 included in APeX-2. Subjects will remain on
study-drug for 48 weeks. On February 28, 2018, we announced that we had dosed the first patient in the APeX- S trial. We have received
orphan drug status for BCX7353.</P>







<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"><i>ZENITH-1 Trial</i>: On August 2, 2017,
we announced the dosing of the first subject into ZENITH-1, a clinical trial studying up to three dosage strengths of a liquid
formulation of BCX7353 given as a single oral dose for the acute treatment of angioedema attacks in patients with HAE. ZENITH-1
is a randomized, double-blind, placebo-controlled, adaptive dose-ranging trial of the efficacy, safety and tolerability of BCX7353
for treatment of acute angioedema attacks, and will enroll up to 60 subjects with HAE. Blinded study drug is being dosed as an
oral liquid after onset of symptoms, for up to 3 attacks in each subject, with each subject receiving both BCX7353 (for 2 attacks)
and placebo (for one attack) in a randomized sequence. The trial is structured with up to 3 consecutive cohorts testing single
doses of 750 mg 36 subjects), 500 mg (up to 12 subjects) and 250 mg (up to 12 subjects), starting with 750 mg. Efficacy assessments
include patient-reported composite visual analogue scale (&#8220;VAS&#8221;) scores, patient global assessment, change in symptoms,
and use of rescue medication. Treatment effect will be assessed on accumulating results, beginning after 12 subjects have completed
study in the first cohort (750 mg), by comparing the proportion of BCX7353-treated and placebo-treated attacks which have a stable
or improved composite VAS at 4 hours post dose. Enrollment has gone well with the trial thus far, and we have completed enrollment
in the 750 mg cohort and have begun enrolling patients in the 500 mg cohort.</p>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><b><i>Galidesivir (formerly BCX4430)</i></b></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">After multiple discussions with the FDA,
NIAID/HHS, and BARDA/HHS regarding the most appropriate future development path for galidesivir, we will focus our efforts on Marburg
virus.&nbsp;While both Ebola and Marburg infections represent significant medical countermeasure (&ldquo;MCM&rdquo;) emergencies
or threats to the United States, we have concluded the greatest unmet medical need is now to develop a MCM to address the threat
of Marburg infection. Accordingly, we plan to open an IND for galidesivir i.v. for post-exposure prophylaxis and treatment of Marburg
infection.</P>






<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b><u>Results of Operations</u></b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b><i>Year Ended December&nbsp;31, 2017 Compared to 2016</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">Total 2017 revenues decreased to $25.2 million
as compared to 2016 revenues of $26.4 million. The decrease in 2017 revenue was primarily due to lower collaborative revenue under
U.S. Government development contracts as well as lower revenue from product sales to corporate partners. These decreases were largely
offset by $7.0 million of milestone payments associated with U.S. pediatric and Canadian regulatory approvals of RAPIVAB. Revenues
in 2017 included $1.5 million of peramivir product revenue from inventory sales to our commercial partners, $10.5 million of royalty
revenue from SUL, Shionogi and Green Cross associated with sales of peramivir in the United States, Japan, Korea and Taiwan, $4.7
million of reimbursement of collaborative expenses from NIAID/HHS and BARDA/HHS development contracts and $8.5 million associated
with milestone revenue and collaborative revenue amortization from other corporate partnerships. Revenues in 2016 included $2.3
million of peramivir product revenue from inventory sales to our commercial partners, $9.7 million of royalty revenue from SUL,
Shionogi and Green Cross associated with sales of peramivir in the United States, Japan, Korea and Taiwan, $9.5 million of reimbursement
of collaborative expenses from NIAID/HHS and BARDA/HHS related to the development of galidesivir, $2.9 million of reimbursement
of collaborative expenses from BARDA/HHS related to the development of RAPIVAB and $1.8 million associated with collaborative revenue
amortization from other corporate partnerships. With the expiration of BARDA/HHS peramivir contract, unless we enter into new government
contracts, all significant and future reimbursement of collaborative expenses will be under the NIAID/HHS and BARDA/HHS galidesivir
development contracts. Our future RAPIVAB revenue will be difficult to predict because of volatility in prevalence, timing and
severity of influenza season to season as well as variable commercialization efforts and resources dedicated to our products by
our collaborative partners.</p>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Research and Development (&#8220;R&amp;D&#8221;) expenses increased
to $67.0 million in 2017 from $61.0 million in 2016. The increase in 2017 R&amp;D expenses, as compared to 2016, reflects increased
spending on our HAE program partially associated with the achievement of a vesting condition pursuant to outstanding performance-based
stock options related to the successful completion of the APeX-1 clinical trial, as well as an increase in R&amp;D personnel. In
addition, there was a higher level of preclinical development effort and expense dedicated to our two preclinical programs, including
our FOP program, than in previous years. These increases were somewhat offset by a decrease in galidesivir expenses under U.S.
Government development contracts.</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>



<p style="font-size: 10pt; margin: 0pt 0">&nbsp;&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The following table summarizes our R&amp;D expenses for the periods
indicated (amounts are in thousands).</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 12pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 12pt"></p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 12pt"></p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 12pt">&nbsp;</p>

<table cellpadding="0" cellspacing="0" align="CENTER" style="border-collapse: collapse; width: 85%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">R&amp;D expenses by program:</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="width: 55%; font-size: 10pt; text-indent: 10pt">Avoralstat</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 12%; font-size: 10pt; text-align: right">&#8212;</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 12%; font-size: 10pt; text-align: right">13,433</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 12%; font-size: 10pt; text-align: right">27,769</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-indent: 10pt">BCX7353</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">40,974</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">21,410</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">11,819</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Other 2nd generation HAE compounds</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,111</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,139</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">9,320</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-indent: 10pt">Galidesivir</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3,757</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">9,458</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">12,400</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-indent: 10pt">Peramivir</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">4,872</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">5,552</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3,690</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt">Other research, preclinical and development costs</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">16,248</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">10,016</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">7,760</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt; text-indent: 10pt">Total R&amp;D expenses</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">66,962</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">61,008</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">72,758</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td></tr>
</table>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 12pt">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">R&amp;D expenses include all direct and indirect expenses and are
allocated to specific programs at the point of development of a lead product candidate. Direct expenses are charged directly to
the program to which they relate and indirect expenses are allocated based upon internal direct labor hours dedicated to each respective
program. Direct expenses consist of compensation for R&amp;D personnel and costs of outside parties to conduct laboratory studies,
develop manufacturing processes, manufacture the product candidates, conduct and manage clinical trials, as well as other costs
related to our clinical and preclinical studies. Indirect R&amp;D expenses consist of lab supplies and services, facility expenses,
depreciation of development equipment and other overhead of our research and development efforts. R&amp;D expenses vary according
to the number of programs in clinical development and the stage of development of our clinical programs. Later stage clinical programs
tend to cost more than earlier stage programs due to the longer length of time of the clinical trials and the higher number of
patients enrolled in these clinical trials.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Selling, General and Administrative (&#8220;SG&amp;A&#8221;) expenses
increased to $13.9 million in 2017 compared to $11.3 million in 2016. The increase of $2.6 million was due to the achievement of
a vesting condition pursuant to outstanding performance-based stock options related to the successful completion of the APeX-1
clinical trial as well as business development and merger-related costs associated with our combination with Idera.</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Interest expense increased to $8.6 million in 2017 primarily associated
with our execution of a $23.0 million Senior Credit Facility with an affiliate of MidCap Financial Services, LLC (&#8220;MidCap&#8221;)
in September 2016 (the &#8220;Senior Credit Facility&#8221;), as compared to $6.5 million in 2016. In addition, a mark to market
loss of $1.8 million was recognized in 2017 related to the foreign currency hedge entered into in conjunction with the royalty
monetization transaction, compared to a mark to market loss of $1.7 million in 2016, both resulting from changes in the U.S. dollar/Japanese
yen exchange rate during the respective years. In addition, realized currency exchange gains of $1.0 million and $0.8 million were
recognized in 2017 and 2016, respectively, related to the exercise of a U.S. dollar/Japanese yen currency option under our foreign
currency hedge. We entered into a foreign currency hedge agreement to hedge changes in the value of the Japanese yen relative to
the U.S. dollar. The currency hedge does not qualify for hedge accounting treatment and therefore mark to market adjustments are
recognized in our Consolidated Statements of Comprehensive Loss. Although we cannot predict the future yen/dollar exchange rate,
the applicable foreign currency rates moved such that we currently have no collateral posted; however, it is possible that collateral
will be required to be posted in the future. We are unable to predict future changes in the yen/dollar exchange rate or increases/decreases
in our hedge gains/losses associated with the currency hedge agreement.</p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b><i>Year Ended December&nbsp;31, 2016 Compared to 2015</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Total 2016 revenues decreased to $26.4 million as compared to 2015
revenues of $48.3 million. The decrease in 2016 revenues, as compared to 2015, was primarily due to the peramivir out-licensing
transaction to Seqirus, which resulted in the recognition of $21.8 million of collaborative revenue in 2015 and a $4.0 million
decrease in 2016 peramivir product sales, as well as a reduction in collaboration revenue associated with lower galidesivir development
activity in 2016. All of these decreases were slightly offset by a $7.3 million increase in 2016 peramivir royalty revenue derived
from BioCryst&#8217;s commercial partners. A component of the peramivir royalty revenue was $5.7 million of Japanese government
stockpiling revenue that is available for general corporate use. Although these orders provided a significant cash infusion, stockpiling
royalty revenues may not recur on an annual basis as they are subject to the Japanese government&#8217;s appropriation and stockpiling
process, which is difficult to predict. Revenues in 2016 included $2.3 million of peramivir product revenue from inventory sales
to our commercial partners, $9.7 million of royalty revenue from SUL, Shionogi and Green Cross associated with sales of peramivir
in the United States, Japan, Korea and Taiwan, $9.5 million of reimbursement of collaborative expenses from NIAID/HHS and BARDA/HHS
related to the development of galidesivir, $2.9 million of reimbursement of collaborative expenses from BARDA/HHS related to the
development of RAPIVAB and $1.8 million associated with collaborative revenue amortization from other corporate partnerships. The
2015 revenue consisted of $5.7 million of RAPIVAB product revenue and $21.8 million of collaborative revenue related to the SUL
Agreement, $2.4 million of royalty revenue from SUL, Shionogi and Green Cross associated with sales of peramivir in the United
States, Japan and Korea, $16.3 million of reimbursement of collaborative expenses from BARDA/HHS and NIAID/HHS related to the development
of peramivir and galidesivir, and $1.4 million associated with collaborative revenue amortization from other corporate partnerships.
In addition, we recorded approximately $0.6 million of RAPIVAB revenue under the &#8220;Sell-Through&#8221; revenue recognition
methodology, but going forward we will recognize all future commercial RAPIVAB sales as royalty revenue under one of our partnership
arrangements.</p>



<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Research and Development (&#8220;R&amp;D&#8221;) expenses decreased
to $61.0 million in 2016 from $72.8 million in 2015. The decrease in 2016 R&amp;D expenses, as compared to 2015, reflects lower
spending on our HAE portfolio of compounds associated with the discontinuation of avoralstat development.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Selling, General and administrative (&#8220;SG&amp;A&#8221;) expenses
decreased to $11.3 million in 2016 compared to $13.0 million in 2015. The decrease of $1.7 million was primarily due to lower unrestricted
grants awarded to HAE patient advocacy groups, as well as a general reduction of administrative expenses in 2016.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Interest expense increased to $6.5 million in 2016 primarily associated
with our execution of the Senior Credit Facility with MidCap, as compared to $5.2 million in 2015. In addition, a mark to market
loss of $1.7 million was recognized in 2016 related to the foreign currency hedge entered into in conjunction with the royalty
monetization transaction, compared to a mark to market loss of $0.6 million in 2015, both resulting from changes in the U.S. dollar/Japanese
yen exchange rate during the respective years. In addition, realized currency exchange gains of $0.8 million and $1.7 million were
recognized in 2016 and 2015, respectively, related to the exercise of a U.S. dollar/Japanese yen currency option under our foreign
currency hedge. Thus, a resulting net loss of $0.8 million is recognized on our foreign currency derivative for 2016 compared to
a net gain of $1.1 million for 2015.</p>



<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0"><b>&nbsp;</b></p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Liquidity and Capital Resources</b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Cash expenditures have exceeded revenues since our inception and we
expect our 2018 operating expenses to exceed our 2018 revenues. Our operations have principally been funded through public offerings
and private placements of equity securities; cash from collaborative and other research and development agreements, including U.S.
Government contracts for RAPIVAB and galidesivir; and to a lesser extent, the PhaRMA Notes financing and the Senior Credit Facility.
To date, we have been awarded a BARDA/HHS RAPIVAB development contract totaling $234.8 million, which expired on June 30, 2014,
a NIAID/HHS galidesivir development contract totaling $39.5 million, which is ongoing, and a BARDA/HHS galidesivir development
contract totaling $39.1 million, which is also ongoing. The total amount of NIAID/HHS and BARDA/HHS galidesivir funding obligated
under awarded options is $39.5&nbsp;million and $20.6 million, respectively. We may issue securities through private placement
transactions or registered public offerings pursuant to a registration statement filed with the SEC. In addition to the above,
we have received funding from other sources, including other collaborative and other research and development agreements; government
grants; equipment lease financing; facility leases; research grants; and interest income on our investments.</p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">As of December 31, 2017, we had net working capital of $50.6 million,
an increase of approximately $38.0 million from $12.6 million at December&nbsp;31, 2016. The increase in working capital was principally
due to proceeds from two public offerings of common stock partially offset by our normal operating expenses associated with the
development of our product candidates. Our principal sources of liquidity at December 31, 2017 were approximately $50.3 million
in cash and cash equivalents and approximately $105.4 million in investments considered available-for-sale. We anticipate our cash
and investments will fund our operations at least through the third quarter of 2019.</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We intend to contain costs and cash flow requirements by closely managing
our third party costs and headcount, leasing scientific equipment and facilities, contracting with other parties to conduct certain
research and development projects and using consultants. We expect to incur additional expenses, potentially resulting in significant
losses, as we continue to pursue our research and development activities and begin to build a commercial infrastructure. We may
incur additional expenses related to the filing, prosecution, maintenance, defense and enforcement of patent and other intellectual
property claims and additional regulatory costs as our clinical programs advance through later stages of development. The objective
of our investment policy is to ensure the safety and preservation of invested funds, as well as maintaining liquidity sufficient
to meet cash flow requirements. We place our excess cash with high credit quality financial institutions, commercial companies,
and government agencies in order to limit the amount of our credit exposure. We have not realized any significant losses on our
investments.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We plan to finance our needs principally from the following:</p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="width: 5%">&nbsp;</td>
    <td style="vertical-align: top; width: 2%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top; width: 1%">&nbsp;</td>
    <td style="vertical-align: top; width: 92%"><font style="font-size: 10pt">lease or loan financing and future public or private equity financing;</font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="width: 5%">&nbsp;</td>
    <td style="vertical-align: top; width: 2%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top; width: 1%">&nbsp;</td>
    <td style="vertical-align: top; width: 92%"><font style="font-size: 10pt">our existing capital resources and interest earned on that capital;</font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="width: 5%">&nbsp;</td>
    <td style="vertical-align: top; width: 2%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top; width: 1%">&nbsp;</td>
    <td style="vertical-align: top; width: 92%"><font style="font-size: 10pt">payments under existing and executing new contracts with the U.S. Government; and</font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="width: 5%">&nbsp;</td>
    <td style="vertical-align: top; width: 2%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top; width: 1%">&nbsp;</td>
    <td style="vertical-align: top; width: 92%"><font style="font-size: 10pt">payments under collaborative and licensing agreements with corporate partners.</font></td></tr>
</table>
<p style="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">As our programs continue to advance, our costs will increase. Our
current and planned clinical trials, plus the related development, manufacturing, regulatory approval process requirements and
additional personnel resources and testing required for the continuing development of our product candidates will consume significant
capital resources and will increase our expenses. Our expenses, revenues and cash utilization rate could vary significantly depending
on many factors, including our ability to raise additional capital, the development progress of our collaborative agreements for
our product candidates, the amount and timing of funding we receive from existing U.S. Government contracts for galidesivir, the
amount of funding or assistance, if any, we receive from new U.S. Government contracts or other new partnerships with third parties
for the development and or commercialization of our product candidates, the progress and results of our current and proposed clinical
trials for our most advanced product candidates, the progress made in the manufacturing of our lead product candidates and the
progression of our other programs.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">With the funds available at December 31,
2017, we believe these resources will be sufficient to fund our operations at least through the third quarter of 2019. We have
sustained operating losses for the majority of our corporate history and expect that our 2018 expenses will exceed our 2018 revenues.
We expect to continue to incur operating losses and negative cash flows until revenues reach a level sufficient to support ongoing
operations. Accordingly, our planned operations raise doubt about our ability to continue as a going concern beyond the third quarter
of 2019. Our liquidity needs will be largely determined by the success of operations in regards to the progression of our product
candidates in the future. We also may consider other plans to fund operations beyond the third quarter of 2019 including: (1)&nbsp;securing
or increasing U.S. Government funding of our programs, including obtaining procurement contracts; (2)&nbsp;out-licensing rights
to certain of our products or product candidates, pursuant to which the we would receive cash milestones; (3)&nbsp;raising additional
capital through equity or debt financings or from other sources; (4)&nbsp;obtaining additional product candidate regulatory approvals,
which would generate revenue, milestones and cash flow; (5)&nbsp;reducing spending on one or more research and development programs,
including by discontinuing development; and/or (6)&nbsp;restructuring operations to change our overhead structure. We may issue
securities, including common stock, preferred stock, depositary shares, stock purchase contracts, warrants and units, through private
placement transactions or registered public offerings. Our future liquidity needs, and ability to address those needs, will largely
be determined by the success of our product candidates and key development and regulatory events and our decisions in the future.</p>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">Our long-term capital requirements and the adequacy of our available
funds will depend upon many factors, including:</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="width: 5%">&nbsp;</td>
    <td style="vertical-align: top; width: 2%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top; width: 1%">&nbsp;</td>
    <td style="vertical-align: top; width: 90%"><font style="font-size: 10pt">our ability to perform under our government contracts and receive reimbursement, and receive stockpiling procurement contracts;</font></td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">the magnitude of work under our government contracts;</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">the progress and magnitude of our research, drug discovery and development programs;</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">changes in existing collaborative relationships or government contracts;</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">our ability to establish additional collaborative relationships with academic institutions, biotechnology or pharmaceutical companies and governmental agencies or other third parties;</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">the extent to which our partners, including governmental agencies, will share in the costs associated with the development of our programs or run the development programs themselves;</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">our ability to negotiate favorable development and marketing strategic alliances for certain product candidates or a decision to build or expand internal development and commercial capabilities;</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">successful commercialization of marketed products by either us or a partner;</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">the scope and results of preclinical studies and clinical trials to identify and develop product candidates;</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">our ability to engage sites and enroll subjects in our clinical trials;</font></td>
    <td colspan="2">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">the scope of manufacturing of our product candidates to support our preclinical research and clinical trials;</font></td>
    <td colspan="2">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">increases in personnel and related costs to support the development and commercialization of our product candidates;</font></td>
    <td colspan="2">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">the scope of manufacturing of our drug substance and product candidates required for future NDA filings;</font></td>
    <td colspan="2">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">competitive and technological advances;</font></td>
    <td colspan="2">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">the time and costs involved in obtaining regulatory approvals;&nbsp;</font></td>
    <td colspan="2">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">post-approval commitments for RAPIVAB and other products that receive regulatory approval; and</font></td>
    <td colspan="2">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">the costs involved in all aspects of intellectual property strategy and protection including the costs involved in preparing, filing, prosecuting, maintaining, defending and enforcing patent claims.</font></td>
    <td colspan="2">&nbsp;</td></tr>
</table>
<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We expect that we will be required to raise additional capital to
complete the development and commercialization of our current product candidates and we may seek to raise capital in the future.
Additional funding, whether through additional sales of equity or debt securities, collaborative or other arrangements with corporate
partners or from other sources, including governmental agencies in general and existing government contracts specifically, may
not be available when needed or on terms acceptable to us. The issuance of preferred or common stock or convertible securities,
with terms and prices significantly more favorable than those of the currently outstanding common stock, could have the effect
of diluting or adversely affecting the holdings or rights of our existing stockholders. In addition, collaborative arrangements
may require us to transfer certain material rights to such corporate partners. Insufficient funds may require us to delay, scale
back or eliminate certain of our research and development programs. Our future working capital requirements, including the need
for additional working capital, will be largely determined by the advancement of our portfolio of product candidates as well as
rate of reimbursement by U.S. Government agencies of our galidesivir expenses and any future decisions regarding the future of
the RAPIVAB and galidesivir programs, including those relating to stockpiling procurement. More specifically, our working capital
requirements will be dependent on the number, magnitude, scope and timing of our development programs; regulatory approval of our
product candidates; obtaining funding from collaborative partners; the cost, timing and outcome of regulatory reviews, regulatory
investigations, and changes in regulatory requirements; the costs of obtaining patent protection for our product candidates; the
timing and terms of business development activities; the rate of technological advances relevant to our operations; the efficiency
of manufacturing processes developed on our behalf by third parties; and the level of required administrative support for our daily
operations.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The restrictive covenants contained in the Senior Credit Facility
could cause us to be unable to pursue business opportunities that we or our stockholders may consider beneficial without the lender&#8217;s
permission or without repaying all Senior Credit Facility obligations. These covenants limit our ability to, among other things,
convey, sell, lease, license, transfer or otherwise dispose of certain parts of our business or property; change the nature of
our business; liquidate or dissolve; enter into certain change in control or acquisition transactions; incur or assume certain
debt; grant certain types of liens on our assets; modify, liquidate or transfer assets in certain collateral accounts; pay dividends
or make certain distributions to our stockholders; make certain investments; enter into material transactions with affiliates;
and modify existing debt or collaboration arrangements. A breach of any of these covenants could result in an event of default
under the Senior Credit Facility.</p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Financial Outlook for 2018</b></p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">Based upon our development plans, expected
stand-alone operations and our awarded government contracts, we expect 2018 operating cash usage to be in the range of $67 to $90
million, and expect our total 2018 operating expenses to be in the range of $85 to $110 million. Our operating expense range excludes
equity-based compensation expense due to the difficulty in accurately projecting this expense as it is significantly impacted by
the volatility and price of the Company&#8217;s stock, as well as vesting of the Company&#8217;s outstanding performance-based
stock options. Our operating cash forecast excludes any impact of our royalty monetization, hedge collateral posted or returned,
and any other non-routine cash outflows or inflows. Our ability to remain within our operating expense and operating cash target
ranges is subject to multiple factors, including unanticipated or additional general development and administrative costs and other
factors described under the Risk Factors located elsewhere in this report.</p>




<p style="font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0">&nbsp;&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Off-Balance Sheet Arrangements</b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">As of December&nbsp;31, 2017, we are not involved in any unconsolidated
entities or off&#8211;balance sheet arrangements.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Contractual Obligations</b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In the table below, we set forth our enforceable and legally binding
obligations and future commitments and obligations related to all contracts that we are likely to continue regardless of the fact
that they are cancelable as of December&nbsp;31, 2017. Some of the amounts we include in this table are based on management&#8217;s
estimates and assumptions about these obligations, including their duration, the possibility of renewal, anticipated actions by
third parties, and other factors. Because these estimates and assumptions are necessarily subjective, the obligations we will actually
pay in future periods may vary from those reflected in the table.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="19" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Payments Due by Period<br> (In thousands)</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Contractual Obligations</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Less&nbsp;Than<br> 1&nbsp;Year</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">1-3&nbsp;Years</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">3-5&nbsp;Years</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">More Than<br>
    5&nbsp;Years</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 35%; font-size: 10pt; text-align: left">Operating lease obligations</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">6,153</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">1,169</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">2,016</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">969</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">1,999</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">Purchase obligations(1)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">39,559</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">39,559</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Contingent license obligations</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,550</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">225</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">425</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">300</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">600</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Non-recourse notes payable(2)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">54,154</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">16,104</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">38,050</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Senior credit facility</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">27,536</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">8,610</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">15,435</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">3,491</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&#8212;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; padding-bottom: 2.25pt">Total</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">128,952</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">65,667</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">55,926</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">4,760</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">2,599</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td></tr>
</table>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 4%"><font style="font-size: 10pt">(1)</font></td>
    <td style="width: 96%"><font style="font-size: 10pt">Purchase obligations include commitments related to clinical development, manufacturing and research operations and other purchase commitments.</font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font-size: 10pt">(2)</font></td>
    <td><font style="font-size: 10pt">Assumes the PhaRMA Notes will be repaid at maturity and the related interest costs will accrue and be paid annually through maturity. This assumption is based on the unpredictable nature of the royalty payments from Shionogi, which are designated for both principal and interest payments on the PhaRMA Notes.</font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">Under the Currency Hedge Agreement, we have the right to purchase
dollars and sell yen at a rate of 100 yen per dollar for which we may be required to pay a premium in each year from 2018 through
2020. A payment of $2.0 million will be required if, during the relevant year, the dollar is worth 100 yen or less. As of December&nbsp;31,
2017, we have no hedge collateral posted against the Currency Hedge Agreement. Because the posting of additional collateral and
payment of annual premiums is contingent on the value of the yen relative to the dollar and other factors, such payments have been
excluded from the foregoing table.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">In addition to the above, we have committed to make potential future
&#8220;sublicense&#8221; payments to third-parties as part of in-licensing and development programs. Payments under these agreements
generally become due and payable only upon achievement of certain developmental, regulatory and/or commercial milestones. Because
the achievement of these milestones is neither probable nor reasonably estimable, such contingencies have not been recorded on
our balance sheet.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Critical Accounting Policies</b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We have established various accounting policies that govern the application
of U.S. GAAP, which were utilized in the preparation of our consolidated financial statements. Certain accounting policies involve
significant judgments and assumptions by management that have a material impact on the carrying value of certain assets and liabilities.
Management considers such accounting policies to be critical accounting policies. The judgments and assumptions used by management
are based on historical experience and other factors, which are believed to be reasonable under the circumstances. Because of the
nature of the judgments and assumptions made by management, actual results could differ from these judgments and estimates, which
could have a material impact on the carrying values of assets and liabilities and the results of operations.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">While our significant accounting policies are more fully described
in Note&nbsp;1 to our consolidated financial statements included in this Annual Report on Form&nbsp;10-K for the year ended December&nbsp;31,
2017, we believe that the following accounting policies are the most critical to aid you in fully understanding and evaluating
our reported financial results and affect the more significant judgments and estimates that we use in the preparation of our financial
statements.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b><i>Inventory</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">Our inventories consist of peramivir finished goods and work in process,
which are valued at the lower of cost or market using the first-in, first-out (i.e., FIFO) method. Cost includes materials, labor,
overhead, shipping and handling costs. Our inventories are subject to expiration dating. We regularly evaluate the carrying value
of our inventories and provide valuation reserves for any estimated obsolete, short-dated or unmarketable inventories. In addition,
we may experience spoilage of our raw materials and supplies. Our determination that a valuation reserve might be required, in
addition to the quantification of such reserve, requires us to utilize significant judgment. In connection with the FDA approval
of RAPIVAB and other regulatory approvals, we began capitalizing costs associated with the production of peramivir inventories.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b><i>Accrued Expenses</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We enter into contractual agreements with third-party vendors who
provide research and development, manufacturing, and other services in the ordinary course of business. Some of these contracts
are subject to milestone-based invoicing and services are completed over an extended period of time. We record liabilities under
these contractual commitments when an obligation has been incurred. This accrual process involves reviewing open contracts and
purchase orders, communicating with our applicable personnel to identify services that have been performed and estimating the level
of service performed and the associated cost when we have not yet been invoiced or otherwise notified of actual cost. The majority
of our service providers invoice us monthly in arrears for services performed. We make estimates of our accrued expenses as of
each balance sheet date based on the facts and circumstances known to us. We periodically confirm the accuracy of our estimates
with the service providers and make adjustments if necessary. Examples of estimated accrued expenses include:</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="width: 5%">&nbsp;</td>
    <td style="vertical-align: top; width: 2%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top; width: 1%">&nbsp;</td>
    <td style="vertical-align: top; width: 87%"><font style="font-size: 10pt">fees paid to Clinical Research Organizations (&#8220;CROs&#8221;) in connection with preclinical and toxicology studies and clinical trials;</font></td>
    <td style="width: 5%">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">fees paid to investigative sites in connection with clinical trials;</font></td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">fees paid to contract manufacturers in connection with the production of our raw materials, drug substance and product candidates;&nbsp;and</font></td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2" style="vertical-align: top"><font style="font-size: 10pt">professional fees.</font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We base our expenses related to clinical trials on our estimates of
the services received and efforts expended pursuant to contracts with multiple research institutions and CROs that conduct and
manage clinical trials on our behalf. The financial terms of these agreements are subject to negotiation, vary from contract to
contract and may result in uneven payment flows. Payments under some of these contracts depend on factors such as the successful
enrollment of patients and the completion of clinical trial milestones. In accruing service fees, we estimate the time period over
which services will be performed and the level of effort expended in each period. If the actual timing of the performance of services
or the level of effort varies from our estimate, we will adjust the accrual accordingly. If we do not identify costs that we have
begun to incur or if we underestimate or overestimate the level of these costs, our actual expenses could differ from our estimates.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b><i>Revenue Recognition</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We recognize revenues from collaborative and other research and development
arrangements and product sales. Revenue is realized or realizable and earned when all of the following criteria are met: (i)&nbsp;persuasive
evidence of an arrangement exists; (ii)&nbsp;delivery has occurred or services have been rendered; (iii)&nbsp;the seller&#8217;s
price to the buyer is fixed or determinable; and (iv)&nbsp;collectability is reasonably assured.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><i>Collaborative and Other Research and Development Arrangements and Royalties</i></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 23pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">Revenue from license fees, royalty payments, event payments, and
research and development fees are recognized as revenue when the earnings process is complete and we have no further continuing
performance obligations or we have completed the performance obligations under the terms of the agreement. Fees received under
licensing agreements that are related to future performance are deferred and recognized over an estimated period determined by
management based on the terms of the agreement and the products licensed. In the event a license agreement contains multiple deliverables,
we evaluate whether the deliverables are separate or combined units of accounting. Revisions to revenue or profit estimates as
a result of changes in the estimated revenue period are recognized prospectively.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">Under certain of our license agreements, we receive royalty payments
based upon our licensees&#8217; net sales of covered products. We recognize royalty revenues when we can reliably estimate such
amounts and collectability is reasonably assured. Royalty revenue paid by Shionogi on their product sales is subject to returns.</p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">For arrangements that involve the delivery of more than one element,
each product, service and/or right to use assets is evaluated to determine whether it qualifies as a separate unit of accounting.
This determination is based on whether the deliverable has &#8220;stand-alone value&#8221; to the customer. The consideration that
is fixed or determinable is then allocated to each separate unit of accounting based on the relative selling price of each deliverable.
The estimated selling price of each deliverable is determined using the following hierarchy of values: (i) vendor-specific objective
evidence of fair value, (ii) third-party evidence of selling price (&#8220;TPE&#8221;) and (iii) best estimate of selling price
(&#8220;BESP&#8221;). The BESP reflects our best estimate of what the selling price would be if the deliverable was regularly sold
by us on a stand-alone basis. In most cases we expect to use TPE or BESP for allocating consideration to each deliverable. The
consideration allocated to each unit of accounting is recognized as the related goods or services are delivered, limited to the
consideration that is not contingent upon future deliverables. Analyzing the arrangement to identify deliverables requires the
use of judgment, and each deliverable may be an obligation to deliver services, a right or license to use an asset, or another
performance obligation.</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">In June 2015, we entered into a License Agreement
(the "SUL Agreement") granting SUL and its affiliates worldwide rights, excluding Israel, Japan, Korea and Taiwan, to
develop, manufacture and commercialize RAPIVAB. The SUL Agreement provides for various types of payments, including a non-refundable
upfront fee, milestone payments, and future royalties. Analysis of the SUL Agreement identified three deliverables: (i) license
rights, (ii) inventory and (iii) regulatory support to obtain Canadian and EU marketing approvals. We received an upfront payment
of $33.7 million from SUL of which $7.0 million was determined to be contingent upon EU marketing approval and will be deferred
until that time. Approximately $21.8 million of the upfront payment was allocated to the license rights and recognized as revenue
in the second quarter. Approximately $3.7 million of the upfront payment was allocated to the sale of inventory and was recognized
in the third quarter when the inventory transfer was completed. Approximately $1.2 million of the revenue from the SUL Agreement
was recognized ratably over the expected period of involvement in regulatory support activities.&nbsp;</p>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Milestone payments are recognized as licensing revenue upon the achievement
of specified milestones if (i) the milestone is substantive in nature and the achievement of the milestone was not reasonably assured
at the inception of the SUL Agreement; and (ii) the fees are non-refundable. Any milestone payments received prior to satisfying
these revenue recognition criteria are recorded as deferred revenue.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">During 2017, we received a $2.0 million milestone payment related
to the approval of RAPIVAB by Health Canada and a $5.0 million milestone payment associated with the FDA approval of a supplemental
new drug application (&#8220;sNDA&#8221;) for RAPIVAB extending its availability for the treatment of acute uncomplicated influenza
to pediatric patients two years and older. We evaluated each event based payment under the provisions of ASU 2010-17, Milestone
Method of Revenue Recognition, and determined that each event based payment met the criteria to be considered substantive and represents
a milestone under the milestone method of accounting. Under the terms of the SUL Agreement, we may receive an additional $5.0 million
payment related to the successful marketing approval by the EMA for an adult indication in the EU. No event-based payments were
achieved during 2016.&nbsp;</p>



<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Reimbursements received for direct out-of-pocket expenses related
to research and development costs are recorded as revenue in the income statement rather than as a reduction in expenses. Under
our contracts with BARDA/HHS and NIAID/HHS, revenue is recognized as reimbursable direct and indirect costs are incurred.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><i>Product Sales</i></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">We recognize revenue for sales of RAPIVAB when title and substantially
all the risks and rewards of ownership have transferred to the customer, which generally occurs on the date of shipment from our
specialty distributors, utilizing the Sell-Through revenue recognition methodology. Product sales are recognized when there is
persuasive evidence that an arrangement exists, title has passed, the price was fixed and determinable, and collectability is reasonably
assured. Product sales are recognized net of estimated allowances, discounts, sales returns, chargebacks and rebates. In the United
States, prior to completion of the SUL transaction, we sold RAPIVAB to specialty distributors, who, in turn, sell to physician
offices, hospitals and federal, state and commercial health care organizations. With the completion of the SUL worldwide license
of RAPIVAB, SUL will be responsible for sales of RAPIVAB, other than U.S. Government stockpiling sales and the sale of inventory
from us to peramivir commercial partners. With the completion of the SUL collaboration, all peramivir third-party sales (i.e.,
RAPIVAB, RAPIACTA, and PERAMIFLU) will be made by the Company&#8217;s partners, except for U.S. Government stockpiling sales, and
the Company will be reliant on these partners to generate sales and provide for sales discounts and rebates.</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Sales deductions consist of statutory rebates to state Medicaid, Medicare
and other government agencies and sales discounts (including trade discounts and distribution service fees). These deductions are
recorded as reductions to revenue from RAPIVAB in the same period as the related sales with estimates of future utilization derived
from historical experience adjusted to reflect known changes in the factors that impact such reserves.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We utilize data from external sources to help estimate gross-to-net
sales adjustments as they relate to the recognition of revenue for RAPIVAB sold. External sourced data includes, but is not limited
to, information obtained from specialty distributors with respect to their inventory levels and sell-through to customers, and
information from third-party suppliers of market research data to the pharmaceutical industry.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">We have categorized and described more fully the following significant
sales deductions, all of which involve estimates and judgments, which we consider to be critical accounting estimates, and requires
us to use information from external sources.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><i>Rebates and Chargebacks</i></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Statutory rebates to state Medicaid agencies and Medicare are based
on statutory discounts to RAPIVAB&#8217;s selling price.&nbsp;As it can take up to nine months or more for information to be received
on actual usage of RAPIVAB in Medicaid and other governmental programs, we maintain reserves for amounts payable under these programs
relating to RAPIVAB sales.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Chargebacks claimed by specialty distributors are based on the differentials
between product acquisition prices paid by the specialty distributors and lower government contract pricing paid by eligible customers
covered under federally qualified programs.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The amount of the reserve for rebates and chargebacks is based on
multiple qualitative and quantitative factors, including the historical and projected utilization levels, historical payment experience,
changes in statutory laws and interpretations as well as contractual terms, product pricing (both normal selling prices and statutory
or negotiated prices), changes in prescription demand patterns and utilization of our product through public benefit plans, and
the levels of RAPIVAB inventory in the distribution channel. We acquire prescription utilization data from third-party suppliers
of market research data to the pharmaceutical industry. We update our estimates and assumptions each period and record any necessary
adjustments to reserves. Settlements of rebates and chargebacks typically occur within nine months from point of sale. To the extent
actual rebates and chargebacks differ from our estimates, additional reserves may be required or reserves may need to be reversed,
either of which would impact current period product revenue.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><i>Discounts and Sales Incentives</i></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 22.5pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Discounts and other sales incentives primarily consist of Inventory
Management Agreement (&#8220;IMA&#8221;) fees. Per contractual agreements with our specialty distributors, we provide an IMA fee
based on a percentage of their purchases of RAPIVAB. The IMA fee rates are set forth in our individual contracts. We track sales
to our specialty distributors each period and accrue a liability relating to the unpaid portion of these fees by applying contractual
rates to such sales.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><i>Product Returns</i></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 22.5pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We do not record a product return allowance as we do not offer the
ability to return goods once a bona fide shipment has been accepted by a specialty distributor.&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b><i>&nbsp;</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0"><b><i>Research and Development Expenses</i></b></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Our research and development costs are charged to expense when incurred.
Advance payments for goods or services that will be used or rendered for future research and development activities are deferred
and capitalized. Such amounts are recognized as expense when the related goods are delivered or the related services are performed.
Research and development expenses include, among other items, personnel costs, including salaries and benefits, manufacturing costs,
clinical, regulatory, and toxicology services performed by CROs, materials and supplies, and overhead allocations consisting of
various administrative and facilities related costs. Most of our manufacturing and clinical and preclinical studies are performed
by third-party CROs. Costs for studies performed by CROs are accrued by us over the service periods specified in the contracts
and estimates are adjusted, if required, based upon our on-going review of the level of services actually performed.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Additionally, we have license agreements with third parties, such
as AECOM, IRL, and UAB, which require fees related to sublicense agreements or maintenance fees. We expense sublicense payments
as incurred unless they are related to revenues that have been deferred, in which case the expenses are deferred and recognized
over the related revenue recognition period. We expense maintenance payments as incurred.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Deferred collaboration expenses represent sub-license payments paid
to our academic partners upon receipt of consideration from various commercial partners, and other consideration to our academic
partners for modification to existing license agreements. These deferred expenses would not have been incurred without receipt
of such payments or modifications from our commercial partners and are being expensed in proportion to the related revenue being
recognized. We believe that this accounting treatment appropriately matches expenses with the associated revenue.&nbsp;&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">We group our R&amp;D expenses into two major categories: direct
external expenses and indirect expenses. Direct expenses consist of compensation for R&amp;D personnel and costs of outside parties
to conduct laboratory studies, develop manufacturing processes and manufacture the product candidate, conduct and manage clinical
trials, as well as other costs related to our clinical and preclinical studies. These costs are accumulated and tracked by active
program. Indirect expenses consist of lab supplies and services, facility expenses, depreciation of development equipment and other
overhead of our research and development efforts. These costs apply to work on non-active product candidates and our discovery
research efforts.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b><i>Stock-Based Compensation</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">All share-based payments, including grants of stock option awards
and restricted stock unit awards, are recognized in our Consolidated Statements of Comprehensive Loss based on their fair values.
Stock-based compensation cost is estimated at the grant date based on the fair value of the award and is recognized as expense
on a straight-line basis over the requisite service period of the award. Determining the appropriate fair value model and the related
assumptions for the model requires judgment, including estimating the life of an award, the stock price volatility, and the expected
term. We utilize the Black-Scholes option-pricing model to value our awards and recognize compensation expense on a straight-line
basis over the vesting periods. The estimation of share-based payment awards that will ultimately vest requires judgment, and to
the extent actual results or updated estimates differ from our current estimates, such amounts will be recorded as a cumulative
adjustment in the period estimates are revised. In addition, we have outstanding performance-based stock options for which no compensation
expense is recognized until &#8220;performance&#8221; has occurred. Significant management judgment is also required in determining
estimates of future stock price volatility and forfeitures to be used in the valuation of the options. Actual results, and future
changes in estimates, may differ substantially from our current estimates.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b><i>Foreign Currency Hedge</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In connection with our issuance of the PhaRMA Notes, we entered into
a foreign Currency Hedge Agreement to hedge certain risks associated with changes in the value of the Japanese yen relative to
the U.S.&nbsp;dollar. Under the Currency Hedge Agreement, we have the right to purchase dollars and sell yen at a rate of 100 yen
per dollar for which we may be required to pay a premium in each year from 2018 through 2020, provided the Currency Hedge Agreement
remains in effect. A payment of $2.0&nbsp;million will be required if, on May&nbsp;18 of the relevant year, the U.S. dollar is
worth 100 yen or less as determined in accordance with the Currency Hedge Agreement. In conjunction with establishing the Currency
Hedge Agreement, we will be required to post collateral to the counterparty, which may cause us to experience additional quarterly
volatility in our financial results. We will not be required at any time to post collateral exceeding the maximum premium payments
remaining payable under the Currency Hedge Agreement. As of December 31, 2017, the maximum amount of hedge collateral we may be
required to post is $5.9 million.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Currency Hedge Agreement does not qualify for hedge accounting
treatment and therefore mark to market adjustments will be recognized in our Consolidated Statements of Comprehensive Loss. Mark
to market adjustments are determined by quoted prices in markets that are not actively traded and for which significant inputs
are observable directly or indirectly, representing the Level 2 in the fair value hierarchy as defined by generally accepted accounting
principles (&#8220;U.S. GAAP&#8221;). The Company is also required to post collateral in connection with the mark to market adjustments
based on defined thresholds. As of December&nbsp;31, 2017, no collateral was posted under the agreement.&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b><i>&nbsp;</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0"><b><i></i></b></p>

<p style="font-size: 10pt; margin: 0pt 0"><b><i>&nbsp;</i></b></p>

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<p style="font-size: 10pt; margin: 0pt 0"><b><i></i></b></p>

<p style="font-size: 10pt; margin: 0pt 0"><b><i>Tax</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We account for uncertain tax positions in accordance with U.S. GAAP.
Significant management judgment is required in determining our provision for income taxes, deferred tax assets and liabilities
and any valuation allowance recorded against net deferred tax assets. We have recorded a valuation allowance against all potential
tax assets, due to uncertainties in our ability to utilize deferred tax assets, primarily consisting of certain net operating losses
carried forward, before they expire. The valuation allowance is based on estimates of taxable income in each of the jurisdictions
in which we operate and the period over which our deferred tax assets will be recoverable.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b><i>Impact of Inflation</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We do not believe that our operating results have been materially
impacted by inflation during the past three years. However, we cannot be assured that our operating results will not be adversely
affected by inflation in the future. We will continually seek to mitigate the adverse effects of inflation on the services that
we use through improved operating efficiencies and cost containment initiatives.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Recent Accounting Pronouncements</b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Note&nbsp;12 to the Consolidated Financial Statements included in
Item&nbsp;8 of this Annual Report on Form&nbsp;10-K discusses accounting pronouncements recently issued or proposed but not yet
required to be adopted.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 10%"><font style="font-size: 10pt"><b><a name="a_010"></a>ITEM 7A.</b></font></td>
    <td style="width: 1%; text-align: justify">&nbsp;</td>
    <td style="width: 89%; text-align: justify"><font style="font-size: 10pt"><b><i>QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.</i></b></font></td></tr>
</table>
<p style="font-size: 10pt; margin: 0pt 0"><i>&nbsp;</i></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><i>Interest Rate Risk</i></p>

<p style="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We are subject to interest rate risk on our investment portfolio and
borrowings under our fixed-interest rate PhaRMA Notes and our variable-interest rate Senior Credit Facility. The interest rate
applicable to our borrowings under the PhaRMA Notes is fixed at 14% and the Senior Credit Facility bears a floating interest rate
based on LIBOR. Increases in interest rates could therefore increase the associated interest payments that we are required to make
on the Senior Credit Facility. As of December 31, 2017, our Senior Credit Facility had an interest rate of 9.4%.</p>

<p style="font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">We invest in marketable securities in accordance with our investment
policy. The primary objectives of our investment policy are to preserve capital, maintain proper liquidity to meet operating needs
and maximize yields. Our investment policy specifies credit quality standards for our investments and limits the amount of credit
exposure to any single issue, issuer or type of investment. We place our excess cash with high credit quality financial institutions,
commercial companies, and government agencies in order to limit the amount of credit exposure. Some of the securities we invest
in may have market risk. This means that a change in prevailing interest rates may cause the principal amount of the investment
to fluctuate.</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Our investment exposure to market risk for changes in interest rates
relates to the increase or decrease in the amount of interest income we can earn on our portfolio, changes in the market value
due to changes in interest rates and other market factors as well as the increase or decrease in any realized gains and losses.
Our investment portfolio includes only marketable securities and instruments with active secondary or resale markets to help ensure
portfolio liquidity. A hypothetical 100 basis point increase or decrease in interest rates along the entire interest rate yield
curve would not significantly affect the fair value of our interest sensitive financial instruments, including our borrowings,
but may affect our future earnings and cash flows. We generally have the ability to hold our fixed-income investments to maturity
and therefore do not expect that our operating results, financial position or cash flows will be materially impacted due to a sudden
change in interest rates. However, our future investment income may fall short of expectations due to changes in interest rates,
or we may suffer losses in principal if forced to sell securities which have declined in market value due to changes in interest
rates or other factors, such as changes in credit risk related to the securities&#8217; issuers. To minimize this risk, we schedule
our investments to have maturities that coincide with our expected cash flow needs, thus avoiding the need to redeem an investment
prior to its maturity date. Accordingly, we do not believe that we have material exposure to interest rate risk arising from our
investments. Generally, our investments are not collateralized. We have not realized any significant losses from our investments.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We do not use interest rate derivative instruments to manage exposure
to interest rate changes. We ensure the safety and preservation of invested principal funds by limiting default risk, market risk
and reinvestment risk. We reduce default risk by investing in investment grade securities.</p>

<p style="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; text-align: justify; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><i>Foreign Currency Risk</i></p>

<p style="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The majority of our transactions occur in U.S. dollars and we do not
have significant operating subsidiaries or significant investments in foreign countries. Therefore, we are not subject to significant
foreign currency exchange risk in our normal operations.</p>

<p style="font-size: 10pt; text-align: justify; text-indent: 0.5in; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">In connection with the issuance by Royalty
Sub of the PhaRMA Notes, we entered into a Currency Hedge Agreement to hedge certain risks associated with changes in the value
of the Japanese yen relative to the U.S. dollar. Under the Currency Hedge Agreement, we are required to post collateral based on
our potential obligations under the Currency Hedge Agreement as determined by periodic mark to market adjustments. Provided the
Currency Hedge Agreement remains in effect, we may be required to pay an annual premium in the amount of $2.0&nbsp;million from
May&nbsp;2018 through May&nbsp;2020. Such payment will be required if, in May of the relevant year, the spot rate of exchange for
Japanese yen-U.S. dollars (determined in accordance with the Currency Hedge Agreement) is such that the U.S. dollar is worth 100
yen or less. As of December 31, 2017, the maximum amount of hedge collateral we may be required to post is $5.9 million.</p>



<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

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<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 10%"><font style="font-size: 10pt"><b><a name="a_011"></a>ITEM 8.</b></font></td>
    <td style="width: 1%; text-align: justify">&nbsp;</td>
    <td style="width: 89%; text-align: justify"><font style="font-size: 10pt"><b><i>FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA</i></b></font></td></tr>
</table>
<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>&nbsp;</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>BIOCRYST PHARMACEUTICALS, INC.</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><a name="a_012"></a><b>CONSOLIDATED BALANCE SHEETS</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>(In thousands, except per share amounts)</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<div data-td-taggable-table="" data-td-statement-type="balance-sheet"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December&nbsp;31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: center">ASSETS</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="width: 74%; font-size: 10pt; text-align: left">Cash and cash equivalents</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">50,282</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">22,104</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Restricted cash</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3,286</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,546</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">Investments</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">64,115</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">32,546</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Receivables from collaborations</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">6,117</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">8,768</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">Inventory</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">500</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Prepaid expenses and other current assets</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,381</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,438</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Deferred collaboration expense</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">210</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">85</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Total current assets</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">125,391</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">66,987</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">Investments</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">41,295</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">8,926</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Property and equipment, net</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">9,546</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">9,922</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Deferred collaboration expense</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">199</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other assets</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">2,027</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">3,813</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt; text-indent: 10pt">Total assets</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">178,259</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">89,847</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: center">LIABILITIES AND STOCKHOLDERS&#8217; EQUITY</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Accounts payable</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">$</td><td style="font-size: 10pt; text-align: right">6,337</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">$</td><td style="font-size: 10pt; text-align: right">4,269</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Accrued expenses</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">12,699</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">10,836</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Interest payable</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">12,095</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">8,990</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Deferred collaboration revenue</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">8,484</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,022</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Lease financing obligation</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">75</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Senior credit facility</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">6,464</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Non-recourse notes payable</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">28,682</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">28,243</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Total current liabilities</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">74,836</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">54,360</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Deferred collaboration revenue</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">8,184</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Deferred rent</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">155</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">244</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Lease financing obligation</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,751</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,704</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Senior credit facility</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">16,750</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">22,777</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Stockholders&#8217; equity:</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-indent: 10pt">Preferred stock, $0.001 par value; shares authorized&nbsp;&#8212;&nbsp;5,000; no shares outstanding</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; text-indent: -10pt; padding-left: 20pt">Common stock, $0.01&nbsp;par value; shares authorized&nbsp;&#8212;&nbsp;200,000; shares issued and outstanding&nbsp;&#8212;&nbsp;98,411 in 2017 and 73,782 in 2016</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">984</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">738</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Additional paid-in capital</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">714,869</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">566,913</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Accumulated other comprehensive loss</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(243</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(12</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Accumulated deficit</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(631,843</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(566,061</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt">Total stockholders&#8217; equity</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">83,767</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,578</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt; text-indent: 10pt">Total liabilities and stockholders&#8217; equity</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">178,259</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">89,847</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 12pt">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 12pt">See accompanying notes to consolidated financial statements.</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 12pt"></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>&nbsp;</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b></b></p>

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<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>BIOCRYST PHARMACEUTICALS, INC.</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><a name="a_013"></a><b>CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>(In thousands, except per share amounts)</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<div data-td-taggable-table="" data-td-statement-type="comprehensive-income"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year Ended December&nbsp;31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold">Revenues</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="width: 61%; font-size: 10pt; text-align: left; text-indent: 10pt">Product sales, net</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">1,501</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">2,269</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">6,291</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Royalty revenue</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">10,543</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">9,682</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,386</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt">Collaborative and other research and development</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">13,142</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">14,402</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">39,580</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; text-indent: 20pt">Total revenues</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">25,186</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">26,353</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">48,257</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold">Expenses</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Cost of products sold</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,142</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,297</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,368</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Research and development</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">66,962</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">61,008</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">72,758</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Selling, general and administrative</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">13,933</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">11,253</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">13,047</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; padding-bottom: 1pt; text-indent: 10pt">Royalty</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">560</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">402</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">528</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 20pt">Total operating expenses</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">82,597</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">74,960</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">87,701</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Loss from operations</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(57,411</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(48,607</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(39,444</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Interest and other income</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,015</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">793</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">535</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Interest expense</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(8,565</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(6,487</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(5,200</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">(Loss) gain on foreign currency derivative</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(821</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(843</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,090</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Net loss</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(65,782</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(55,144</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(43,019</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Basic and diluted net loss per common share</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">$</td><td style="font-size: 10pt; font-weight: bold; text-align: right">(0.78</td><td style="font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">$</td><td style="font-size: 10pt; font-weight: bold; text-align: right">(0.75</td><td style="font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">$</td><td style="font-size: 10pt; font-weight: bold; text-align: right">(0.59</td><td style="font-size: 10pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-indent: 10pt">Weighted average shares outstanding</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">84,451</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">73,699</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">72,901</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Unrealized (loss) gain on available for sale investments</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(231</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">194</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(76</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Comprehensive loss</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">(66,013</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">(54,950</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">(43,095</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">)</td></tr>
</table></div>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 12pt">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 12pt">See accompanying notes to consolidated financial statements.</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 12pt"></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 12pt"><b>&nbsp;</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 12pt"></p>

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<p style="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 12pt"><b>BIOCRYST PHARMACEUTICALS, INC.</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 12pt">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 6pt"><b><a name="a_014"></a>CONSOLIDATED STATEMENTS OF CASH FLOWS</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 6pt"></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>(In thousands, except per share amounts)</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<div data-td-taggable-table="" data-td-statement-type="cash-flows"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year Ended December&nbsp;31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left">Operating activities:</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="width: 61%; font-size: 10pt; text-align: left">Net loss</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">(65,782</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">(55,144</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">(43,019</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Adjustments to reconcile net loss to net cash used in operating activities:</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Depreciation, amortization, and impairment</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">704</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">483</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">180</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">(Gain) loss on disposal of property and equipment</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(12</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">17</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Stock-based compensation expense</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">12,621</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">8,487</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">9,705</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Amortization of debt issuance costs</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">876</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">558</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">439</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Amortization of premium/discount on investments</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">157</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">523</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">570</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Change in fair value of foreign currency derivative</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">966</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(811</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">564</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Changes in operating assets and liabilities:</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-indent: 10pt">Receivables</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,651</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(2,525</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3,247</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-indent: 10pt">Inventory</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">500</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,112</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(929</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Prepaid expenses and other assets</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">877</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3,702</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">637</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Deferred collaboration expense</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">74</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">71</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(102</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Accounts payable and accrued expenses</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3,842</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(10,524</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">13,676</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Interest payable</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3,105</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,244</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">717</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt">Deferred revenue</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(1,722</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(1,631</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,199</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; text-indent: 10pt">Net cash used in operating activities:</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">(41,143</td><td style="font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">(53,438</td><td style="font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">(13,116</td><td style="font-size: 10pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left">Investing activities:</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Acquisition of property and equipment</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(328</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(5,277</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(5,122</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Proceeds from sale of property and equipment</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">12</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">4</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Change in restricted cash</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1,740</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">66</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1,462</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-indent: 10pt">Purchases of investments</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(107,787</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(14,106</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(53,830</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt">Sales and maturities of investments</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">43,461</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">42,652</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">42,410</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; text-indent: 10pt">Net cash (used in) provided by investing
    activities:</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">(66,382</td><td style="font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">23,339</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">(18,004</td><td style="font-size: 10pt; font-weight: bold; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left">Financing activities:</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Sale of common stock, net</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">134,000</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; text-indent: -10pt; padding-left: 20pt">Net proceeds from common stock issued under stock-based compensation plans</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,581</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">317</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">5,479</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Proceeds from senior credit facility</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">22,658</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt">Increase in lease financing obligation</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">122</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">329</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&#8212;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; text-indent: 10pt">Net cash provided by financing activities:</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">135,703</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">23,304</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: right">5,479</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Increase (decrease) in cash and cash equivalents</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">28,178</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(6,795</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(25,641</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Cash and cash equivalents at beginning of year</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">22,104</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">28,899</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">54,540</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.25pt">Cash and cash equivalents at end of year</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">50,282</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">22,104</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">28,899</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 12pt">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 12pt">See accompanying notes to consolidated financial statements.</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 12pt">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 12pt"></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 12pt">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"></p>

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<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>BIOCRYST PHARMACEUTICALS, INC.</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><a name="a_015"></a><b>CONSOLIDATED STATEMENTS OF STOCKHOLDERS&#8217; EQUITY (DEFICIT)</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>(In thousands, except per share amounts)</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<div data-td-taggable-table="" data-td-statement-type="stockholders-equity"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Common<br> Stock</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Additional<br> Paid-In<br> Capital</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Accumulated<br> Other<br> Comprehensive<br> (Loss) Income</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Accumulated<br> Deficit</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total<br> Stockholders&#8217;<br> Equity&nbsp;(Deficit)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 35%; font-size: 10pt; font-weight: bold">Balance at December&nbsp;31, 2014</td><td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td><td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right">720</td><td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td><td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right">542,943</td><td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td><td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right">(130</td><td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td><td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right">(467,898</td><td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">$</td><td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right">75,635</td><td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Net loss</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(43,019</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(43,019</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Other comprehensive loss</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(76</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(76</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-indent: -10pt; padding-left: 10pt">Exercise of stock options, 1,359 shares, net</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">14</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">5,110</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">5,124</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; text-indent: -10pt; padding-left: 10pt">Employee stock purchase plan sales, 41&nbsp;shares, net</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">355</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">355</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Stock-based compensation expense</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&#8212;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">9,705</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&#8212;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&#8212;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">9,705</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">Balance at December&nbsp;31, 2015</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">734</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">558,113</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">(206</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">(510,917</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">47,724</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Net loss</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(55,144</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(55,144</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Other comprehensive income</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">194</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">194</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-indent: -10pt; padding-left: 10pt">Exercise of stock options, 351 shares, net</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(15</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(12</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; text-indent: -10pt; padding-left: 10pt">Employee stock purchase plan sales, 75&nbsp;shares, net</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">328</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">329</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Stock-based compensation expense</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&#8212;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">8,487</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&#8212;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&#8212;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">8,487</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">Balance at December&nbsp;31, 2016</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">738</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">566,913</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">(12</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">(566,061</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">1,578</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Net loss</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(65,782</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(65,782</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Other comprehensive (loss)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(231</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(231</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-indent: -10pt; padding-left: 10pt">Exercise of stock options, 609 shares, net</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">6</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,230</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,236</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; text-indent: -10pt; padding-left: 10pt">Employee stock purchase plan sales, 95&nbsp;shares, net</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">344</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">345</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; text-indent: -9pt; padding-left: 9pt">Issuance of common stock, 23,925 shares, net</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">239</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">133,761</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">134,000</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Stock-based compensation expense</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&#8212;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">12,621</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&#8212;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&#8212;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">12,621</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">Balance at December&nbsp;31, 2017</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">984</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">714,869</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">(243</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">(631,843</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: right">83,767</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">See accompanying notes to consolidated financial statements.</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0; text-indent: 366.6pt">&nbsp;</p>

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    <div style="page-break-before: always; margin-top: 6pt"><p style="margin: 0pt"></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>BIOCRYST PHARMACEUTICALS, INC.<br> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>(In thousands, except per share amounts)</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>&nbsp;</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"></p><p style="margin: 0pt"></p></div>
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<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>
<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0"><a name="a_016"></a><b></b></p><p style="font-size: 10pt; margin: 0pt 0"><b></b></p><div data-td-statement-type="note"><p style="font-size: 10pt; margin: 0pt 0"><b>Note&nbsp;1&nbsp;&#8212; Significant Accounting Policies and Concentrations of Risk</b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><b><i>The Company</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">BioCryst Pharmaceuticals, Inc. (the &#8220;Company&#8221;) is a biotechnology
company that designs, optimizes and develops novel small molecule drugs that block key enzymes involved in the pathogenesis of
diseases. The Company focuses on oral treatments for rare diseases in which significant unmet medical needs exist and that align
with its capabilities and expertise. The Company was incorporated in Delaware in 1986 and its headquarters is located in Durham,
North Carolina. The Company integrates the disciplines of biology, crystallography, medicinal chemistry and computer modeling to
discover and develop small molecule pharmaceuticals through the process known as structure-guided drug design. BioCryst has incurred
losses and negative cash flows from operations since inception.&nbsp;</p>



<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">With the funds available at December 31,
2017, the Company believes these resources will be sufficient to fund its operations at least through the third quarter of 2019.
The Company has sustained operating losses for the majority of its corporate history and expects that its 2018 expenses will exceed
its 2018 revenues. The Company expects to continue to incur operating losses and negative cash flows until revenues reach a level
sufficient to support ongoing operations. Accordingly, its planned operations raise doubt about its ability to continue as a going
concern beyond the third quarter of 2019. The Company&#8217;s liquidity needs will be largely determined by the success of operations
in regards to the progression of its product candidates in the future. The Company also may consider other plans to fund operations
beyond the third quarter of 2019 including: (1)&nbsp;securing or increasing U.S. Government funding of its programs, including
obtaining procurement contracts; (2)&nbsp;out-licensing rights to certain of its products or product candidates, pursuant to which
the Company would receive cash milestones; (3)&nbsp;raising additional capital through equity or debt financings or from other
sources; (4)&nbsp;obtaining additional product candidate regulatory approvals, which would generate revenue, milestones and cash
flow; (5)&nbsp;reducing spending on one or more research and development programs, including by discontinuing development; and/or
(6)&nbsp;restructuring operations to change its overhead structure. The Company may issue securities, including common stock, preferred
stock, depositary shares, stock purchase contracts, warrants and units, through private placement transactions or registered public
offerings in the future. The Company&#8217;s future liquidity needs, and ability to address those needs, will largely be determined
by the success of its product candidates and key development and regulatory events and its decisions in the future.</p>




<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><b><i>Basis of Presentation</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The consolidated financial statements include the accounts of the
Company and its wholly-owned subsidiaries, JPR Royalty Sub LLC (&#8220;Royalty Sub&#8221;) and MDCP, LLC (&#8220;MDCP&#8221;).
Both subsidiaries were formed to facilitate financing transactions for the Company. Royalty Sub was formed in connection with a
$30,000&nbsp;financing transaction the Company completed on March&nbsp;9, 2011. See Note 3, Royalty Monetization, for a further
description of this transaction. MDCP was formed in connection with a $23,000 Senior Credit Facility that the Company closed on
September 23, 2016. See Note 4, Senior Credit Facility, for a further description of this transaction. All intercompany transactions
and balances have been eliminated.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company&#8217;s consolidated financial statements have been prepared
in accordance with accounting principles generally accepted in the United States (&#8220;U.S. GAAP&#8221;). Such consolidated financial
statements reflect all adjustments that are, in management&#8217;s opinion, necessary to present fairly, in all material respects,
the Company&#8217;s consolidated financial position, results of operations, and cash flows. There were no adjustments other than
normal recurring adjustments.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><b><i>Cash and Cash Equivalents</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company generally considers cash equivalents to be all cash held
in commercial checking accounts, certificates of deposit, money market accounts or investments in debt instruments with maturities
of three months or less at the time of purchase. The carrying value of cash and cash equivalents approximates fair value due to
the short-term nature of these items.</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><b>&nbsp;</b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><b><i>Restricted Cash</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Restricted cash as of December 31, 2017 reflects $1,876 in royalty
revenue paid by Shionogi&nbsp;&amp; Co., Ltd. (&#8220;Shionogi&#8221;) designated for interest on the PhaRMA Notes (defined in
Note 3) and $1,410 the Company is required to maintain as collateral for a letter of credit associated with the lease execution
and build-out of its new Birmingham research facilities.&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt"></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><b><i>Investments</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company invests in high credit quality investments in accordance
with its investment policy, which is designed to minimize the possibility of loss. The objective of the Company&#8217;s investment
policy is to ensure the safety and preservation of invested funds, as well as maintaining liquidity sufficient to meet cash flow
requirements. The Company places its excess cash with high credit quality financial institutions, commercial companies, and government
agencies in order to limit the amount of its credit exposure. In accordance with its policy, the Company is able to invest in marketable
debt securities that may consist of U.S. Government and government agency securities, money market and mutual fund investments,
municipal and corporate notes and bonds, commercial paper and asset or mortgage-backed securities, among others. The Company&#8217;s
investment policy requires it to purchase high-quality marketable securities with a maximum individual maturity of three years
and requires an average portfolio maturity of no more than 18 months. Some of the securities the Company invests in may have market
risk. This means that a change in prevailing interest rates may cause the principal amount of the investment to fluctuate. To minimize
this risk, the Company schedules its investments with maturities that coincide with expected cash flow needs, thus avoiding the
need to redeem an investment prior to its maturity date. Accordingly, the Company does not believe it has a material exposure to
interest rate risk arising from its investments. Generally, the Company&#8217;s investments are not collateralized. The Company
has not realized any significant losses from its investments.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

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    <div style="page-break-before: always; margin-top: 6pt"><p style="margin: 0pt"></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>BIOCRYST PHARMACEUTICALS, INC.<br> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>(In thousands, except per share amounts)</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>&nbsp;</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"></p><p style="margin: 0pt"></p></div>
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<div><p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company classifies all of its investments as available-for-sale.
Unrealized gains and losses on investments are recognized in comprehensive loss, unless an unrealized loss is considered to be
other than temporary, in which case the unrealized loss is charged to operations. The Company periodically reviews its investments
for other than temporary declines in fair value below cost basis and whenever events or changes in circumstances indicate that
the carrying amount of an asset may not be recoverable. The Company believes the individual unrealized losses represent temporary
declines primarily resulting from interest rate changes. Realized gains and losses are reflected in interest and other income in
the Consolidated Statements of Comprehensive Loss and are determined using the specific identification method with transactions
recorded on a settlement date basis. Investments with original maturities at date of purchase beyond three months and which mature
at or less than 12 months from the balance sheet date are classified as current. Investments with a maturity beyond 12 months from
the balance sheet date are classified as long-term. At December 31, 2017, the Company believes that the cost of its investments
is recoverable in all material respects.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The following tables summarize the fair value of the Company&#8217;s
investments by type. The estimated fair values of the Company&#8217;s fixed income investments are classified as Level 2 in the
fair value hierarchy as defined in U.S. GAAP. These valuations are based on observable direct and indirect inputs, primarily quoted
prices of similar, but not identical, instruments in active markets or quoted prices for identical or similar instruments in markets
that are not active. These fair values are obtained from independent pricing services which utilize Level 2 inputs.</p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="19" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2017</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amortized<br> Cost</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Accrued<br> Interest</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Gross<br> Unrealized<br> Gains</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Gross<br> Unrealized<br> Losses</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Estimated<br> Fair Value</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 35%; font-size: 10pt; text-align: left; text-indent: -10pt; padding-left: 10pt">Obligations of U.S. Government and its agencies</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">60,121</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">177</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">&#8212;</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">(122</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">60,176</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Corporate debt securities</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">34,021</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">203</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(108</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">34,116</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; padding-bottom: 1pt">Certificates of deposit</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">11,099</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">32</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(14</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">11,118</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Total investments</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">105,241</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">412</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">1</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">(244</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">105,410</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="19" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2016</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amortized<br> Cost</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Accrued<br> Interest</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Gross<br> Unrealized<br> Gains</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Gross<br> Unrealized<br> Losses</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Estimated<br> Fair Value</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 35%; font-size: 10pt; text-align: left; text-indent: -10pt; padding-left: 10pt">Obligations of U.S. Government and its agencies</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">20,266</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">34</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">2</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">(4</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">20,298</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Corporate debt securities</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">6,179</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">26</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(8</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">6,199</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; padding-bottom: 1pt">Certificates of deposit</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">14,962</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">17</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">7</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(11</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">14,975</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Total investments</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">41,407</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">77</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">11</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">(23</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">41,472</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The following table summarizes the scheduled maturity for the Company&#8217;s
investments at December&nbsp;31, 2017 and 2016.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" align="CENTER" style="border-collapse: collapse; width: 80%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 67%; font-size: 10pt; text-align: left">Maturing in one year or less</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 13%; font-size: 10pt; text-align: right">64,115</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 2%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 13%; font-size: 10pt; text-align: right">32,546</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Maturing after one year through two years</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">34,257</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">8,926</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Maturing after two years</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">7,038</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&#8212;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Total investments</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">105,410</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">41,472</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p></div>

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    <div style="page-break-before: always; margin-top: 6pt"><p style="margin: 0pt"></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>BIOCRYST PHARMACEUTICALS, INC.<br> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>(In thousands, except per share amounts)</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>&nbsp;</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"></p><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<div><p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0"><b><i>Receivable from Collaborations</i></b> &nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Receivables from collaborations are recorded for amounts due to
the Company related to reimbursable research and development costs from the U.S. Department of Health and Human Services,
royalty receivables from Shionogi, Green Cross Corporation (&#8220;Green Cross&#8221;), Mundipharma International Holdings
Limited (&ldquo;Mundipharma&rdquo;) and Seqirus UK Limited (&#8220;SUL&#8221;), and product sales to SUL. These receivables
are evaluated to determine if any reserve or allowance should be established at each reporting date. At December 31, 2017
and December&nbsp;31, 2016, the Company had the following receivables.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" align="CENTER" style="border-collapse: collapse; width: 80%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December&nbsp;31, 2017</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; text-align: center">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Billed</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Unbilled</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 52%; font-size: 10pt; text-align: left">U.S. Department of Health and Human Services</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 13%; font-size: 10pt; text-align: right">42</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 13%; font-size: 10pt; text-align: right">2,020</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 13%; font-size: 10pt; text-align: right">2,062</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Shionogi&nbsp;&amp; Co. Ltd.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,600</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,600</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Green Cross Corporation</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,388</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">28</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,416</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Mundipharma International Holdings Limited</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">47</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">47</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Seqirus UK Limited</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">825</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">167</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">992</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Total receivables</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">3,902</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">2,215</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">6,117</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" align="CENTER" style="border-collapse: collapse; width: 80%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December&nbsp;31, 2016</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; text-align: center">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Billed</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Unbilled</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 52%; font-size: 10pt; text-align: left">U.S. Department of Health and Human Services</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 13%; font-size: 10pt; text-align: right">&#8212;</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 13%; font-size: 10pt; text-align: right">3,495</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 13%; font-size: 10pt; text-align: right">3,495</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Shionogi&nbsp;&amp; Co. Ltd.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3,451</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3,451</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Green Cross Corporation</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">686</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">686</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Seqirus UK Limited</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">957</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">179</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,136</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Total receivables</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">5,094</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">3,674</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">8,768</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Monthly invoices are submitted to the U.S. Department of Health and
Human Services related to reimbursable research and development costs. The Company is also entitled to monthly reimbursement of
indirect costs based on rates stipulated in the underlying contract. The Company&#8217;s calculations of its indirect cost rates
are subject to audit by the U.S. Government.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><b><i>Receivables from Product Sales</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt"></p>

<p style="font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Receivables from product sales are recorded for amounts due to the
Company related to sales of RAPIVAB. These receivables are evaluated to determine if any reserve or allowance should be established
at each reporting date.</p>

<p style="font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0">&nbsp;&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><b><i>Inventory</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">At December 31, 2017 and December 31, 2016, the Company&#8217;s inventory
consisted primarily of peramivir work in process and is being manufactured for the Company&#8217;s partners. Inventory is stated
at the lower of cost and net realizable value, determined under the first-in, first-out (&#8220;FIFO&#8221;) method, or market.
The Company expenses costs related to the production of inventories as research and development expenses in the period incurred
until such time it is believed that future economic benefit is expected to be recognized, which generally is reliant upon receipt
of regulatory approval. Upon regulatory approval, the Company will capitalize subsequent costs related to the production of inventories.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt"></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><b><i>Property and Equipment</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Property and equipment are recorded at cost. Depreciation is computed
using the straight-line method over the estimated useful lives of the assets. Computer equipment is depreciated over a life of
three years. Laboratory equipment, office equipment, and software are depreciated over a life of five years. Furniture and fixtures
are depreciated over a life of seven years. Leasehold improvements are amortized over their estimated useful lives or the expected
lease term, whichever is less. Property consists of a leased building which did not meet the sale-leaseback criteria and is recorded
at its fair value, less depreciation. The building is being depreciated over a period equal to the expected term of the related
lease.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In accordance with U.S. GAAP, the Company periodically reviews its
property and equipment for impairment when events or changes in circumstances indicate that the carrying amount of such assets
may not be recoverable. Determination of recoverability is based on an estimate of undiscounted future cash flows resulting from
the use of the asset and its eventual disposition. In the event that such cash flows are not expected to be sufficient to recover
the carrying amount of the assets, the assets are written down to their estimated fair values. Property and equipment to be disposed
of are reported at the lower of carrying amount or fair value less cost to sell.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><b><i>Patents and Licenses</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company seeks patent protection on all internally developed processes
and products. All patent related costs are expensed to selling, general and administrative expenses when incurred as recoverability
of such expenditures is uncertain.</p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p></div>

<!-- Field: Page; Sequence: 63; Value: 60 -->
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    <div style="page-break-before: always; margin-top: 6pt"><p style="margin: 0pt"></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>BIOCRYST PHARMACEUTICALS, INC.<br> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>(In thousands, except per share amounts)</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>&nbsp;</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"></p><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<div><p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><b><i>Accrued Expenses</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company generally enters into contractual agreements with third-party
vendors who provide research and development, manufacturing, and other services in the ordinary course of business. Some of these
contracts are subject to milestone-based invoicing and services are completed over an extended period of time. The Company records
liabilities under these contractual commitments when it determines an obligation has been incurred, regardless of the timing of
the invoice. This process involves reviewing open contracts and purchase orders, communicating with applicable Company personnel
to identify services that have been performed on its behalf and estimating the level of service performed and the associated cost
incurred for the service when the Company has not yet been invoiced or otherwise notified of actual cost. The majority of service
providers invoice the Company monthly in arrears for services performed. The Company makes estimates of accrued expenses as of
each balance sheet date in its financial statements based on the facts and circumstances. The Company periodically confirms the
accuracy of its estimates with the service providers and makes adjustments if necessary. Examples of estimated accrued expenses
include:</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr>
    <td style="width: 5%">&nbsp;</td>
    <td style="vertical-align: top; width: 2%"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top; width: 1%">&nbsp;</td>
    <td style="vertical-align: top; width: 91%"><font style="font-size: 10pt">fees paid to Clinical Research Organizations (&#8220;CROs&#8221;) in connection with preclinical and toxicology studies and clinical trials;</font></td>
    <td style="width: 1%">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">fees paid to investigative sites in connection with clinical trials;</font></td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">fees paid to contract manufacturers in connection with the production of the Company&#8217;s raw materials, drug substance and drug products;&nbsp;and</font></td>
    <td>&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&nbsp;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td style="vertical-align: top"><font style="font-size: 10pt">&#8226;</font></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2" style="vertical-align: top"><font style="font-size: 10pt">professional fees.</font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company bases its expenses related to clinical trials on its estimates
of the services received and efforts expended pursuant to contracts with multiple research institutions and CROs that conduct and
manage clinical trials on the Company&#8217;s behalf. The financial terms of these agreements are subject to negotiation, vary
from contract to contract and may result in uneven payment flows. Payments under some of these contracts depend on factors such
as the successful enrollment of patients and the completion of clinical trial milestones. In accruing service fees, the Company
estimates the time period over which services will be performed and the level of effort expended in each period. If the actual
timing of the performance of services or the level of effort varies from the estimate, the Company will adjust the accrual accordingly.
As of December 31, 2017 and December 31, 2016, the carrying value of accrued expenses approximates their fair value due to their
short-term settlement.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>&nbsp;</b></p>

<p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">Accrued expenses were comprised of the following:</p>

<p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" align="CENTER" style="border-collapse: collapse; width: 80%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 67%; font-size: 10pt; text-align: left">Compensation and benefits</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 13%; font-size: 10pt; text-align: right">2,905</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 2%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 13%; font-size: 10pt; text-align: right">425</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Development costs</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">6,683</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">7,427</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">Inventory</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">705</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Professional fees</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">729</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">242</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Duties and taxes</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">148</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">56</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; padding-bottom: 1pt">Other</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">2,234</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,981</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Total accrued expenses</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">12,699</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">10,836</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><b><i>Income Taxes</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The liability method is used in the Company&#8217;s accounting for
income taxes. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting
and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that are expected to be in effect
when the differences are expected to reverse.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">On December 22, 2017, the SEC staff issued
Staff Accounting Bulletin No. 118 (&ldquo;SAB 118&rdquo;), which provides guidance on accounting for the tax effects of the Tax
Cuts and Jobs Act (&ldquo;TCJA&rdquo;). SAB 118 provides a measurement period that should not extend beyond one year from the TCJA
enactment date for companies to complete the accounting under ASC 740, Income Taxes. As of December 31, 2017, the Company has not
completed its accounting related to the enactment of the Tax Act.&nbsp;However, the Company has made reasonable estimates of the
effects on its income tax provision with respect to certain items, primarily the revaluation of its existing U.S. deferred tax
balances as described in Note 8.</P>





<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt"></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><b><i>Accumulated Other Comprehensive Loss</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Accumulated other comprehensive loss is comprised of unrealized gains
and losses on available-for-sale investments and is disclosed as a separate component of stockholders&#8217; equity. Amounts reclassified
from accumulated other comprehensive loss are recorded as interest and other income on the Consolidated Statements of Comprehensive
Loss. During 2017 and 2016, a realized loss of $1 and a realized gain of $11, respectively, were reclassified out of accumulated
other comprehensive loss.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><b><i>Revenue Recognition</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company recognizes revenues from collaborative and other research
and development arrangements, royalties and product sales when realized or realizable and earned. Revenue is realized or realizable
and earned when all of the following criteria are met: (i)&nbsp;persuasive evidence of an arrangement exists; (ii)&nbsp;delivery
has occurred or services have been rendered; (iii)&nbsp;the seller&#8217;s price to the buyer is fixed or determinable; and (iv)&nbsp;collectability
is reasonably assured.</p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p></div>

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    <div style="page-break-before: always; margin-top: 6pt"><p style="margin: 0pt"></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>BIOCRYST PHARMACEUTICALS, INC.<br> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>(In thousands, except per share amounts)</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>&nbsp;</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"></p><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<div><p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><i>Collaborative and Other Research and Development Arrangements and Royalties</i></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 11.5pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">Revenue from license fees, royalty payments, event payments, and
research and development fees are recognized as revenue when the earnings process is complete and the Company has no further continuing
performance obligations or the Company has completed the performance obligations under the terms of the agreement. Fees received
under licensing agreements that are related to future performance are deferred and recognized over an estimated period determined
by management based on the terms of the agreement and the products licensed. Revisions to revenue or profit estimates as a result
of changes in the estimated revenue period are recognized prospectively.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">Under certain of the Company&#8217;s license agreements, the Company
receives royalty payments based upon its licensees&#8217; net sales of covered products. The Company recognizes royalty revenues
when it can reliably estimate such amounts and collectability is reasonably assured.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">For arrangements that involve the delivery of more than one element,
each product, service and/or right to use assets is evaluated to determine whether it qualifies as a separate unit of accounting.
This determination is based on whether the deliverable has &#8220;stand-alone value&#8221; to the customer. The consideration that
is fixed or determinable is then allocated to each separate unit of accounting based on the relative selling price of each deliverable.
The estimated selling price of each deliverable is determined using the following hierarchy of values: (i) vendor-specific objective
evidence of fair value, (ii) third-party evidence of selling price (&#8220;TPE&#8221;) and (iii) best estimate of selling price
(&#8220;BESP&#8221;). The BESP reflects the Company&#8217;s best estimate of what the selling price would be if the deliverable
was regularly sold by the Company on a stand-alone basis. In most cases the Company expects to use TPE or BESP for allocating consideration
to each deliverable. The consideration allocated to each unit of accounting is recognized as the related goods or services are
delivered, limited to the consideration that is not contingent upon future deliverables. Analyzing the arrangement to identify
deliverables requires the use of judgment, and each deliverable may be an obligation to deliver services, a right or license to
use an asset, or another performance obligation.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">In June 2015, the Company entered into a
License Agreement (the &#8220;SUL Agreement&#8221;) granting SUL and its affiliates worldwide rights, excluding Israel, Japan,
Korea and Taiwan, to develop, manufacture and commercialize RAPIVAB. The SUL Agreement provides for various types of payments,
including a non-refundable upfront fee, milestone payments, and future royalties. Analysis of the SUL Agreement identified three
deliverables: (i) license rights, (ii) inventory and (iii) regulatory support to obtain Canadian and European Union (&#8220;EU&#8221;)
marketing approvals. The Company received an upfront payment of $33,740 from SUL, of which $7,000 was determined to be contingent
upon EU marketing approval and will be deferred until that time. Approximately $21,777 of the upfront payment was allocated to
the license rights and recognized as revenue in 2015. Approximately $3,740 of the upfront payment was allocated to the pending
sale of inventory and was recognized in 2015, when the inventory transfer was completed. Approximately $1,223 of the revenue from
the SUL Agreement was recognized over the period of involvement in regulatory support activities.</p>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">Milestone payments are recognized as licensing revenue upon the
achievement of specified milestones if (i) the milestone is substantive in nature and the achievement of the milestone was not
reasonably assured at the inception of the agreement; and (ii) the fees are non-refundable. Any milestone payments received prior
to satisfying these revenue recognition criteria are recorded as deferred revenue.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">During 2017, the Company received a $2,000
milestone payment related to the approval of RAPIVAB by Health Canada and a $5,000 milestone payment associated with the FDA approval
of a supplemental new drug application (&ldquo;sNDA&rdquo;) for RAPIVAB extending its availability for the treatment of acute uncomplicated
influenza to pediatric patients two years and older. The Company evaluated each event based payment under the provisions of ASU
2010-17, Milestone Method of Revenue Recognition, and determined that each event based payment met the criteria to be considered
substantive and represents a milestone under the milestone method of accounting. Under the terms of the SUL Agreement, the Company
may receive an additional $5,000 payment related to the successful marketing approval by the EMA for an adult indication in the
EU. No event-based payments were achieved during 2016.&nbsp;</P>






<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Reimbursements received for direct out-of-pocket expenses related
to research and development costs are recorded as revenue in the Consolidated Statements of Comprehensive Loss rather than as a
reduction in expenses. Under the Company&#8217;s contracts with the Biomedical Advanced Research and Development Authority within
the United States Department of Health and Human Services (&#8221;BARDA/HHS&#8221;) and the National Institute of Allergy and Infectious
Diseases (&#8220;NIAID/HHS&#8221;), revenue is recognized as reimbursable direct and indirect costs are incurred.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><i>Product Sales</i></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 11.5pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company recognizes revenue for sales of RAPIVAB when title and
substantially all the risks and rewards of ownership have transferred to the customer, which generally occurs on the date of shipment
from the Company&#8217;s specialty distributors, utilizing the Sell-Through revenue recognition methodology. Product sales are
recognized when there is persuasive evidence that an arrangement exists, title has passed, the price is fixed and determinable,
and collectability is reasonably assured. Product sales are recognized net of estimated allowances, discounts, sales returns, chargebacks
and rebates. In the United States, and prior to the SUL Agreement, the Company sold RAPIVAB to specialty distributors, who in turn,
sell to physician offices, hospitals and federal, state and commercial health care organizations.&nbsp;With the completion of the
SUL worldwide license of RAPIVAB, SUL will be responsible for sales of RAPIVAB, other than U.S. Government stockpiling sales. With
the completion of the SUL collaboration, all peramivir sales (i.e., RAPIVAB, RAPIACTA, and PERAMIFLU) will be made by the Company&#8217;s
partners, except for U.S. Government stockpiling sales, and the Company will be reliant on these partners to generate sales.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p></div>

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    <div style="page-break-before: always; margin-top: 6pt"><p style="margin: 0pt"></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>BIOCRYST PHARMACEUTICALS, INC.<br> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>(In thousands, except per share amounts)</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>&nbsp;</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"></p><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<div><p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Sales deductions consist of statutory rebates to state Medicaid, Medicare
and other government agencies and sales discounts (including trade discounts and distribution service fees). These deductions are
recorded as reductions from revenue from RAPIVAB in the same period as the related sales with estimates of future utilization derived
from historical experience adjusted to reflect known changes in the factors that impact such reserves.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company utilizes data from external sources to help it estimate
gross-to-net sales adjustments as they relate to the recognition of revenue for RAPIVAB sold. Externally sourced data includes,
but is not limited to, information obtained from specialty distributors with respect to their inventory levels and their sell-through
to customers, as well as information from third-party suppliers of market research data to the pharmaceutical industry.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company accounts for these sales deductions in accordance with
authoritative guidance on revenue recognition when consideration is given by a vendor to a customer.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company has categorized and described more fully the following
significant sales deductions, all of which involve estimates and judgments, which the Company considers to be critical accounting
estimates, and require it to use information from external sources.&nbsp;&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 13.5pt"></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 13.5pt">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 13.5pt"><i>Rebates and Chargebacks</i></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 13.5pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">Statutory rebates to state Medicaid agencies and Medicare are based
on statutory discounts to RAPIVAB&#8217;s selling price.&nbsp;As it can take up to nine months or more for information to be received
on actual usage of RAPIVAB in Medicaid and other governmental programs, the Company maintains reserves for amounts payable under
these programs relating to RAPIVAB sales.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">Chargebacks claimed by specialty distributors are based on the
differentials between product acquisition prices paid by the specialty distributors and lower government contract pricing paid
by eligible customers covered under federally qualified programs.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">The amount of the reserve for rebates and chargebacks is based
on multiple qualitative and quantitative factors, including the historical and projected utilization levels, historical payment
experience, changes in statutory laws and interpretations as well as contractual terms, product pricing (both normal selling prices
and statutory or negotiated prices), changes in prescription demand patterns and utilization of the Company&#8217;s product through
public benefit plans, and the levels of RAPIVAB inventory in the distribution channel. The Company acquires prescription utilization
data from third-party suppliers of market research data to the pharmaceutical industry. The Company updates its estimates and assumptions
each period and records any necessary adjustments to its reserves. Settlements of rebates and chargebacks typically occur within
nine months from point of sale. To the extent actual rebates and chargebacks differ from the Company&#8217;s estimates, additional
reserves may be required or reserves may need to be reversed, either of which would impact current period product revenue.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><i>Discounts and Sales Incentives</i></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Discounts and other sales incentives primarily consist of Inventory
Management Agreement (&#8220;IMA&#8221;) fees. Per contractual agreements with the Company&#8217;s specialty distributors, the
Company provides an IMA fee based on a percentage of their purchases of RAPIVAB. The IMA fee rates are set forth in individual
contracts. The Company tracks sales to these distributors each period and accrues a liability relating to the unpaid portion of
these fees by applying the contractual rates to such product sales.&nbsp;With the completion of the SUL collaboration, all peramivir
sales (i.e., RAPIVAB, RAPIACTA, and PERAMIFLU) will be made by the Company&#8217;s partners, except for U.S. Government stockpiling
sales, and the Company will be reliant on these partners to generate sales and to provide for discounts and sales incentives.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><i>Product Returns</i></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company does not record a product return allowance as it does
not offer the ability to return goods once a bonafide shipment has been accepted by a specialty distributor.&nbsp;</p>



<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p></div>

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    <div style="page-break-before: always; margin-top: 6pt"><p style="margin: 0pt"></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>BIOCRYST PHARMACEUTICALS, INC.<br> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>(In thousands, except per share amounts)</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>&nbsp;</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"></p><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<div><p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company recorded the following revenues for the years ended December&nbsp;31:</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 13.5pt">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 61%; font-size: 10pt; text-align: left">Product sales, net</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">1,501</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">2,269</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">6,291</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Royalty revenue</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">10,543</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">9,682</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,386</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Collaborative and other research and development revenues:</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">U.S. Department of Health and Human Services</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">4,608</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">12,449</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">16,337</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Green Cross Corporation</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">132</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Shionogi &amp; Co. Ltd.</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,184</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,184</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,184</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt">Seqirus UK Limited</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">7,350</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">769</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">21,927</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Total collaborative and other research and development revenues</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">13,142</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">14,402</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">39,580</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Total revenues</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">25,186</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">26,353</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">48,257</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><b><i>&nbsp;</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><i>Advertising</i></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company engages in very limited distribution and direct-response
advertising when promoting RAPIVAB. Advertising and promotional costs are expensed as the costs are incurred. The Company did not
incur advertising and product promotion expenses in 2017 and 2016. Advertising and product promotion expenses were $103 for the
year ended December&nbsp;31, 2015.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><b><i>Research and Development Expenses</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company&#8217;s research and development costs are charged to
expense when incurred. Research and development expenses include all direct and indirect development costs related to the development
of the Company&#8217;s portfolio of product candidates. Advance payments for goods or services that will be used or rendered for
future research and development activities are deferred and capitalized. Such amounts are recognized as expense when the related
goods are delivered or the related services are performed. Research and development expenses include, among other items, personnel
costs, including salaries and benefits, manufacturing costs, clinical, regulatory, and toxicology services performed by CROs, materials
and supplies, and overhead allocations consisting of various administrative and facilities related costs. Most of the Company&#8217;s
manufacturing and clinical and preclinical studies are performed by third-party CROs. Costs for studies performed by CROs are accrued
by the Company over the service periods specified in the contracts and estimates are adjusted, if required, based upon the Company&#8217;s
on-going review of the level of services actually performed.&nbsp;&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Additionally, the Company has license agreements with third parties,
such as Albert Einstein College of Medicine of Yeshiva University (&#8220;AECOM&#8221;), Industrial Research, Ltd. (&#8220;IRL&#8221;),
and the University of Alabama at Birmingham (&#8220;UAB&#8221;), which require fees related to sublicense agreements or maintenance
fees. The Company expenses sublicense payments as incurred unless they are related to revenues that have been deferred, in which
case the expenses are deferred and recognized over the related revenue recognition period. The Company expenses maintenance payments
as incurred.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Deferred collaboration expenses represent sub-license payments, paid
to the Company&#8217;s academic partners upon receipt of consideration from various commercial partners, and other consideration
paid to the Company&#8217;s academic partners for modification to existing license agreements. These deferred expenses would not
have been incurred without receipt of such payments or modifications from the Company&#8217;s commercial partners and are being
expensed in proportion to the related revenue being recognized. The Company believes that this accounting treatment appropriately
matches expenses with the associated revenue.</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><b><i>Stock-Based Compensation</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">All share-based payments, including grants of stock option awards
and restricted stock unit awards, are recognized in the Company&#8217;s Consolidated Statements of Comprehensive Loss based on
their fair values. The fair value of stock option awards is estimated using the Black-Scholes option pricing model. The fair value
of restricted stock unit awards is based on the grant date closing price of the common stock. Stock-based compensation cost is
recognized as expense on a straight-line basis over the requisite service period of the award. In addition, we have outstanding
performance-based stock options for which no compensation expense is recognized until &#8220;performance&#8221; is deemed to have
occurred.</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><b><i>Interest Expense and Deferred Financing Costs</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Interest expense for the years ended December 31, 2017, 2016 and 2015
was $8,565, $6,487 and $5,200, respectively, and primarily relates to the issuance of the PhaRMA Notes (defined in Note 3) and
the Senior Credit Facility (defined in Note 4). Costs directly associated with the issuance of the PhaRMA Notes and the Senior
Credit Facility have been capitalized and are netted against the non-recourse notes payable and Senior Credit Facility on the Consolidated
Balance Sheets. These costs are being amortized to interest expense over the terms of the PhaRMA Notes and the Senior Credit Facility
using the effective interest rate method. Amortization of deferred financing costs and original issue discount included in interest
expense was $876, $558 and $439 for each of the years ended December 31, 2017, 2016 and 2015, respectively.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p></div>

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    <div style="page-break-before: always; margin-top: 6pt"><p style="margin: 0pt"></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>BIOCRYST PHARMACEUTICALS, INC.<br> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>(In thousands, except per share amounts)</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>&nbsp;</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"></p><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<div><p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 13.5pt"><b><i>Lease Financing Obligation</i></b></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Based on the terms of the lease agreement for the new research facility
in Birmingham, Alabama, the Company had construction period risks during the construction period and the Company was deemed the
owner of the building (for accounting purposes only) during the construction period, which ended in 2016. Accordingly, the Company
recorded an asset of $1,589 at December 31, 2015, representing the Company&#8217;s leased portion of the building and recorded
a corresponding liability. Upon completion of leasehold improvement construction, the Company did not meet the sale-leaseback criteria
for de-recognition of the building asset and liability. Therefore, the lease is accounted for as a financing obligation. The asset
will be depreciated over the expected duration of the lease of 20.5 years, and rental payments will be treated as principal and
interest payments on the lease financing obligation liability. The underlying accounting for this transaction has no impact on
cash flows associated with the underlying lease or construction in process. Interest expense for the years ended December 31, 2017
and 2016 includes $299 and $408, respectively, related to the lease financing obligation.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">At each of December 31, 2017 and 2016, the lease financing obligation
balance was $2,704 and was recorded as a long-term liability on the consolidated balance sheets. At December 31, 2017 the remaining
future minimum payments under the lease financing obligation are $4,334.</p>



<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>




<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><b><i>Currency Hedge Agreement</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">In connection with the issuance by Royalty
Sub of the PhaRMA Notes, the Company entered into a Currency Hedge Agreement to hedge certain risks associated with changes in
the value of the Japanese yen relative to the U.S. dollar. The Currency Hedge Agreement does not qualify for hedge accounting treatment;
therefore mark to market adjustments are recognized in the Company&#8217;s Consolidated Statements of Comprehensive Loss. Cumulative
mark to market adjustments for the years ended December&nbsp;31, 2017, 2016 and 2015 resulted in losses of $1,787, $1,654 and $564,
respectively. Mark to market adjustments are determined by a third-party pricing model which uses quoted prices in markets that
are not actively traded and for which significant inputs are observable directly or indirectly, representing Level 2 in the fair
value hierarchy as defined by U.S. GAAP. In addition, realized currency exchange gains of $966, $811 and $1,654 were recognized
in 2017, 2016 and 2015, respectively, related to the exercise of a U.S. dollar/Japanese yen currency option under the Company&#8217;s
foreign currency hedge. The Company is also required to post collateral in connection with the mark to market adjustments based
on defined thresholds. As of December 31, 2017 and December&nbsp;31, 2016, no hedge collateral was posted under the Currency Hedge
Agreement.</p>




<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><b><i>Net Loss Per Share</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Net loss per share is based upon the weighted average number of common
shares outstanding during the period. Diluted loss per share is equivalent to basic net loss per share for all periods presented
herein because common equivalent shares from unexercised stock options, outstanding warrants, and common shares expected to be
issued under the Company&#8217;s employee stock purchase plan were anti-dilutive. The calculation of diluted earnings per share
for the years ended December&nbsp;31, 2017, 2016, and 2015 does not include 2,067, 1,226 and 3,524 respectively, of potential common
shares as their impact would be anti-dilutive.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><b><i>Use of Estimates</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The preparation of financial statements in conformity with U.S. GAAP
requires the Company to make estimates and assumptions that affect the amounts reported in the financial statements. Actual results
could differ from those estimates.&nbsp;&nbsp;</p>

<p style="font-size: 10pt; text-indent: 13.5pt; margin: 0pt 0"><b><i>&nbsp;</i></b></p>

<p style="font-size: 10pt; text-indent: 13.5pt; margin: 0pt 0"><b><i>Significant Customers and Other Risks</i></b><i> &nbsp;</i></p>

<p style="font-size: 10pt; text-indent: 13.5pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"><i>Significant Customers</i></p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">Prior to the SUL Agreement, the Company relied primarily on three
specialty distributors to purchase and supply the majority of RAPIVAB. These three pharmaceutical specialty distributors accounted
for greater than 90% of all RAPIVAB product sales and accounted for predominantly all of the Company&#8217;s outstanding receivables
from product sales. The loss of one or more of these specialty distributors as a customer could have negatively impacted the commercialization
of RAPIVAB. However, the Company will utilize these specialty distributors on a limited basis subsequent to the SUL collaboration
as SUL, and other peramivir collaboration partners, will be responsible for commercial sales on a worldwide basis. In addition,
in connection with the SUL collaboration, all peramivir sales (i.e., RAPIVAB, RAPIACTA, and PERAMIFLU) will be made by the Company&#8217;s
partners and the Company will be reliant on these partners to generate sales and remit cash to satisfy receivables.</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</p></div>

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    <div style="page-break-before: always; margin-top: 6pt"><p style="margin: 0pt"></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>BIOCRYST PHARMACEUTICALS, INC.<br> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>(In thousands, except per share amounts)</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>&nbsp;</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"></p><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<div><p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt">Other than royalty revenues, the Company&#8217;s
primary source of revenue that has an underlying cash flow stream is the reimbursement of galidesivir (formerly BCX4430) development
expenses earned under cost-plus-fixed-fee contracts with BARDA/HHS and NIAID/HHS. The Company relies on BARDA/HHS and NIAID/HHS
to reimburse predominantly all of the development costs for its galidesivir program. Accordingly, reimbursement of these expenses
represents a significant portion of the Company&#8217;s collaborative and other research and development revenues. The completion
or termination of the NIAID/HHS and BARDA/HHS galidesivir contracts could negatively impact the Company&#8217;s future Consolidated
Statements of Comprehensive Loss and Cash Flows. The Company recognizes royalty revenue from the net sales of RAPIACTA by Shionogi;
however, the underlying cash flow from these royalty payments, except for Japanese government stockpiling sales, goes directly
to pay the interest, and then the principal, on the Company&#8217;s non-recourse notes payable. Payment of the interest and the
ultimate repayment of principal of these notes will be entirely funded by future royalty payments derived from net sales of RAPIACTA.
Further, the Company&#8217;s drug development activities are performed by a limited group of third party vendors. If any of these
vendors were unable to perform their services, this could significantly impact the Company&#8217;s ability to complete its drug
development activities.</p>




<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"><i>Risks from Third Party Manufacturing and Distribution Concentration</i></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 22.5pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">The Company relies on single source manufacturers for active pharmaceutical
ingredient and finished drug product manufacturing of product candidates in development. Delays in the manufacture or distribution
of any product could adversely impact the commercial revenue and future procurement stockpiling of the Company&#8217;s product
candidates in development.</p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"><i>Credit Risk</i></p>

<p style="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 22.5pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">Cash equivalents and investments are financial instruments which
potentially subject the Company to concentration of risk to the extent recorded on the Consolidated Balance Sheets. The Company
deposits excess cash with major financial institutions in the United States. Balances may exceed the amount of insurance provided
on such deposits. The Company believes it has established guidelines for investment of its excess cash relative to diversification
and maturities that maintain safety and liquidity. To minimize the exposure due to adverse shifts in interest rates, the Company
maintains a portfolio of investments with an average maturity of approximately 18 months or less. Other than product sale and collaborative
partner receivables discussed above, the majority of the Company&#8217;s receivables from collaborations are due from the U.S.
Government, for which there is no assumed credit risk.</p></div></div><div><p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"></p></div><p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0"><b></b></p><div data-td-statement-type="note"><p style="font-size: 10pt; margin: 0pt 0"><b>Note&nbsp;2&nbsp;&#8212; Property and Equipment</b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">Property and equipment consisted of the following at December&nbsp;31:</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" align="CENTER" style="border-collapse: collapse; width: 80%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 67%; font-size: 10pt; text-align: left">Furniture and fixtures</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 13%; font-size: 10pt; text-align: right">566</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 2%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 13%; font-size: 10pt; text-align: right">540</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Office equipment</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">146</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">141</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">Software</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,125</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,117</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Laboratory equipment</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,984</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3,252</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Leased equipment</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">152</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Leasehold improvements</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">8,405</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">8,294</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; padding-bottom: 1pt">Building</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,495</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,495</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">14,873</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">14,839</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Less accumulated depreciation and amortization</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(5,327</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(4,917</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Property and equipment, net</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">9,546</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">9,922</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Depreciation and amortization expense for the years ended December&nbsp;31,
2017, 2016 and 2015 was $704, $483 and $180, respectively.</p></div><p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b></b></p><p style="font-size: 10pt; margin: 0pt 0"><b></b></p><div data-td-statement-type="note"><p style="font-size: 10pt; margin: 0pt 0"><b>Note 3&#8212; Royalty Monetization</b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 6pt"><i>Overview</i></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 6pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">On March&nbsp;9, 2011, the Company completed a $30,000&nbsp;financing
transaction to monetize certain future royalty and milestone payments under the Shionogi Agreement, pursuant to which Shionogi
licensed from the Company the rights to market RAPIACTA in Japan and Taiwan. The Company received
net proceeds of $22,691&nbsp;from the transaction after transaction costs of $4,309&nbsp;and the establishment of a $3,000&nbsp;interest
reserve account by Royalty Sub, available to help cover interest shortfalls in the future. All of the interest reserve account
has been fully utilized with the September 2012 interest payment.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">As part of the transaction, the Company entered into a purchase and
sale agreement dated as of March&nbsp;9, 2011 with Royalty Sub, whereby the Company transferred to Royalty Sub, among other things,
(i)&nbsp;its rights to receive certain royalty and milestone payments from Shionogi arising under the Shionogi Agreement, and (ii)&nbsp;the
right to receive payments under a Japanese yen/US dollar foreign currency hedge arrangement (as further described below, the &#8220;Currency
Hedge Agreement&#8221;) put into place by the Company in connection with the transaction. Royalty payments will be paid by Shionogi
in Japanese yen and milestone payments will paid in U.S. dollars. The Company&#8217;s collaboration with Shionogi was not impacted
as a result of this transaction.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<!-- Field: Page; Sequence: 69; Value: 60 -->
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    <div style="page-break-before: always; margin-top: 6pt"><p style="margin: 0pt"></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>BIOCRYST PHARMACEUTICALS, INC.<br> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>(In thousands, except per share amounts)</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>&nbsp;</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"></p><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<div><p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 6pt"><i>Non-Recourse Notes Payable</i></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">On March&nbsp;9, 2011, Royalty Sub completed a private placement to
institutional investors of $30,000 in aggregate principal amount of its PhaRMA Senior Secured 14.0% Notes due 2020 (the &#8220;PhaRMA
Notes&#8221;). The PhaRMA Notes were issued by Royalty Sub under an Indenture, dated as of March&nbsp;9, 2011 (the &#8220;Indenture&#8221;),
by and between Royalty Sub and U.S. Bank National Association, as Trustee. Principal and interest on the PhaRMA Notes issued are
payable from, and are secured by, the rights to royalty and milestone payments under the Shionogi Agreement transferred by the
Company to Royalty Sub and payments, if any, made to Royalty Sub under the Currency Hedge Agreement. The PhaRMA Notes bear interest
at 14%&nbsp;per annum, payable annually in arrears on September&nbsp;1st of each year. The Company remains entitled to receive
any royalties and milestone payments related to sales of peramivir by Shionogi following repayment of the PhaRMA Notes. &nbsp;&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Royalty Sub&#8217;s obligations to pay principal and interest on the
PhaRMA Notes are obligations solely of Royalty Sub and are without recourse to any other person, including the Company, except
to the extent of the Company&#8217;s pledge of its equity interests in Royalty Sub in support of the PhaRMA Notes. The Company
may, but is not obligated to, make capital contributions to a capital account that may be used to redeem, or on up to one occasion
pay any interest shortfall on, the PhaRMA Notes.</p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">In September&nbsp;2014, Royalty Sub was unable
to pay the accrued interest obligation due September&nbsp;3, 2013. Under the terms of the Indenture, Royalty Sub&#8217;s inability
to pay the full amount of interest payable in September&nbsp;2013 by the next succeeding Payment Date for the PhaRMA Notes, which
was September&nbsp;1, 2014, constituted an event of default. Accordingly, the PhaRMA Notes and related accrued interest have been
classified as current liabilities on the December 31, 2014 balance sheet, and thereafter. As a result of the event of default under
the PhaRMA Notes, the holders of the PhaRMA Notes may pursue acceleration of the PhaRMA Notes, may foreclose on the collateral
securing the PhaRMA Notes and the equity interest in Royalty Sub and exercise other remedies available to them under the Indenture
in respect of the PhaRMA Notes. In such event, the Company may not realize the benefit of future royalty payments that might otherwise
accrue to it following repayment of the PhaRMA Notes and it might otherwise be adversely affected. Due to the non-recourse nature
of the PhaRMA Notes, in the event of any potential acceleration or foreclosure, the primary impact to the Company would be the
loss of future royalty payments from Shionogi and legal costs associated with retiring the PhaRMA Notes. In addition, the Company
may incur costs associated with liquidating the related Currency Hedge Agreement, which would no longer be required in the event
of foreclosure, or if the PhaRMA Notes cease to be outstanding. As the PhaRMA Notes are the obligation of Royalty Sub and non-recourse
to the Company, the event of default of the PhaRMA Notes is not expected to have a significant impact on the Company&#8217;s future
results of operations or cash flows. As of December 31, 2017, the PhaRMA Notes remain in default.</p>



<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Indenture does not contain any financial covenants. The Indenture
includes customary representations and warranties of Royalty Sub, affirmative and negative covenants of Royalty Sub, Events of
Default and related remedies, and provisions regarding the duties of the Trustee, indemnification of the Trustee, and other matters
typical for indentures used in structured financings of this type.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">As of December&nbsp;31, 2017, the aggregate fair value of the PhaRMA
Notes was estimated to be approximately 50% of its carrying value of $30,000. The estimated fair value of the PhaRMA Notes is classified
as Level 2 in the fair value hierarchy as defined in U.S. GAAP.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The PhaRMA Notes are redeemable at the option of Royalty Sub at any
time at a redemption price equal to the outstanding principal balance of the PhaRMA Notes being redeemed plus accrued and unpaid
interest through the redemption date on the PhaRMA Notes being redeemed.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><i>Foreign Currency Hedge</i></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In connection with the issuance by Royalty Sub of the PhaRMA Notes,
the Company entered into a Currency Hedge Agreement to hedge certain risks associated with changes in the value of the Japanese
yen relative to the U.S. dollar. Under the Currency Hedge Agreement, the Company has the right to purchase dollars and sell yen
at a rate of 100 yen per dollar for which the Company may be required to pay a premium in each year from 2018 through 2020, provided
the Currency Hedge Agreement remains in effect. A payment of $1,950&nbsp;will be required if, on May&nbsp;18 of the relevant year,
the U.S. dollar is worth 100 yen or less as determined in accordance with the Currency Hedge Agreement.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p></div>

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    <div style="page-break-before: always; margin-top: 6pt"><p style="margin: 0pt"></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>BIOCRYST PHARMACEUTICALS, INC.<br> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>(In thousands, except per share amounts)</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>&nbsp;</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"></p><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<div><p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Currency Hedge Agreement does not qualify for hedge accounting
treatment; therefore mark to market adjustments are recognized in the Company&#8217;s Consolidated Statement of Comprehensive Loss.
Cumulative mark to market adjustments in 2017, 2016 and 2015 resulted in losses of $1,787, $1,654 and $564, respectively. In addition,
realized currency exchange gains of $966, $811 and $1,654 were recognized in 2017, 2016 and 2015, respectively, related to the
exercise of a U.S. dollar/Japanese yen currency option under the Company&#8217;s foreign currency hedge. The Company is also required
to post collateral in connection with the mark to market adjustments based on defined thresholds. As of December&nbsp;31, 2017
and 2016, no collateral was posted under the Currency Hedge Agreement. The Company will not be required at any time to post collateral
exceeding the maximum premium payments remaining payable under the Currency Hedge Agreement. As of December 31, 2017, the maximum
amount of hedge collateral the Company may be required to post is $5,850.</p></div></div><div><p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p></div><p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b></b></p><div data-td-statement-type="note"><p style="font-size: 10pt; margin: 0pt 0"><b>Note 4 &#8212; Senior Credit Facility</b></p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">On September 23, 2016, the Company closed a $23,000 Senior Credit
Facility with an affiliate of MidCap Financial Services, LLC (&#8220;MidCap&#8221;), as administrative agent (the &#8220;Senior
Credit Facility&#8221;). The Senior Credit Facility was fully funded at closing and bears a variable interest rate of LIBOR (which
shall not be less than 0.5%) plus 8%. The Senior Credit Facility includes an interest-only payment period through fiscal 2017 and
scheduled monthly principal and interest payments for the subsequent 40 months. The Company has the option to repay the Senior
Credit Facility at any time prior to the scheduled principal repayment date subject to prepayment fees. Final payment of the Senior
Credit Facility is subject to a final payment fee equal to 5% of the principal funded under the Senior Credit Facility.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt">As of December 31, 2017, the Company had
borrowings of $23,000 under the Senior Credit Facility bearing an interest rate of 9.4%. The carrying amount of the debt approximates
its fair value based on prevailing interest rates as of the balance sheet date. Scheduled principal repayments of the Senior Credit
Facility are as follows:</p>



<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" align="CENTER" style="border-collapse: collapse; width: 50%">
<tr style="vertical-align: bottom">
    <td colspan="5" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Principal Payments</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 72%; font-size: 10pt; text-align: justify">2018</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 25%; font-size: 10pt; text-align: right">6,900</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: justify">2019</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">6,900</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify">2020</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">6,900</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: justify; padding-bottom: 1pt">2021</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">2,300</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: justify; padding-bottom: 2.25pt">Total</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">23,000</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="font-size: 10pt; margin: 0pt 0"><b>&nbsp;</b></p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">The debt agreement contains two provisions that if deemed probable
would create the recognition of an embedded feature; however, at this time we do not believe either provision is probable.</p></div><p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b></b></p><div data-td-statement-type="note"><p style="font-size: 10pt; margin: 0pt 0"><b>Note&nbsp;5&nbsp;&#8212; Lease Obligations and Other Contingencies</b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company has the following minimum payments under operating lease
obligations that existed at December&nbsp;31, 2017:</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" align="CENTER" style="border-collapse: collapse; width: 85%">
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 87%; font-size: 10pt; text-align: left">2018</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">1,169</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">2019</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,154</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">2020</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">862</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">2021</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">479</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">2022</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">490</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; padding-bottom: 1pt">Thereafter</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,999</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Total minimum payments</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">6,153</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The obligations in the preceding table are primarily related to the
Company&#8217;s leases for buildings in Birmingham, Alabama and Durham, North Carolina. The lease for the Company&#8217;s headquarters
in Durham, North Carolina expires June&nbsp;30, 2020. The lease for the Company&#8217;s research facility in Birmingham, Alabama
expires October 31, 2026. Rent expense for operating leases was $617, $721 and $664 in 2017, 2016, and 2015, respectively.</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><i>&nbsp;</i></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in"><i>Lease Financing Obligation</i></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Based on the terms of the lease agreement for the new research facility
in Birmingham, Alabama, the Company had construction period risks during the construction period and the Company was deemed the
owner of the building (for accounting purposes only) during the construction period, which ended in 2016. Accordingly, the Company
recorded an asset of $1,589 at December 31, 2015, representing the Company&#8217;s leased portion of the building and recorded
a corresponding liability. Upon completion of leasehold improvement construction, the Company did not meet the sale-leaseback criteria
for de-recognition of the building asset and liability. Therefore, the lease is accounted for as a financing obligation. The asset
will be depreciated over the expected duration of the lease, and rental payments will be treated as principal and interest payments
on the lease financing obligation liability. The underlying accounting for this transaction has no impact on cash flows associated
with the underlying lease and or construction in process.</p>

<p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">At each of December 31, 2017 and 2016, the lease financing obligation
balance was $2,704 and was recorded as a long-term liability on the consolidated balance sheets. The remaining future minimum payments
under the lease financing obligation are $4,334.</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p></div><p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

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    <div style="page-break-before: always; margin-top: 6pt"><p style="margin: 0pt"></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>BIOCRYST PHARMACEUTICALS, INC.<br> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>(In thousands, except per share amounts)</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>&nbsp;</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"></p><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0"><b></b></p><div data-td-statement-type="note"><p style="font-size: 10pt; margin: 0pt 0"><b>Note&nbsp;6&nbsp;&#8212; Stockholders&#8217; Equity</b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><b><i>Sales of Common Stock</i></b></p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In March 2017, the Company completed a public offering of 6,061 shares
of its common stock at a price of $8.50 per share, which included the underwriters&#8217; overallotment option to purchase additional
shares. Net proceeds were approximately $47,750 after deducting underwriting discounts and offering expenses.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">In September 2017, the Company completed
a public offering of 17,864 shares of its common stock at a price of $5.15 per share, which included the underwriters&#8217; overallotment
option to purchase additional shares. Net proceeds were approximately $86,250 after deducting underwriting discounts and offering
expenses.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">On November 8, 2017, the Company filed a
$200,000 shelf registration statement on Form S-3 with the SEC. This shelf registration statement became effective on December
12, 2017 and allows the Company to sell securities, including common stock, preferred stock, depository shares, stock purchase
contracts, warrants and units, from time to time at prices and on terms to be determined at the time of sale.</p></div><p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b></b></p><p style="font-size: 10pt; margin: 0pt 0"><b></b></p><div data-td-statement-type="note"><p style="font-size: 10pt; margin: 0pt 0"><b>Note&nbsp;7&nbsp;&#8212; Stock-Based Compensation</b></p>

<p style="font-size: 10pt; text-indent: 13.5pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><b><i>Stock Incentive Plan</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">As of December&nbsp;31, 2017, the Company had two stock-based employee
compensation plans, the Stock Incentive Plan (&#8220;Incentive Plan&#8221;) and the Employee Stock Purchase Plan (&#8220;ESPP&#8221;).
The Incentive Plan was amended and restated in April 2017 and approved by the Company&#8217;s stockholders in May 2017. The ESPP
was amended and restated in March 2014 and approved by the Company&#8217;s stockholders in May 2014. Stock-based compensation expense
of $12,621 ($12,421 of expense related to the Incentive Plan, $200 of expense related to the ESPP) was recognized during 2017,
while $8,487 ($8,340 of expense related to the Incentive Plan, $147 of expense related to the ESPP) was recognized during 2016,
and $9,705 ($9,485 of expense related to the Incentive Plan, $220 of expense related to the ESPP) was recognized during 2015.&nbsp;</p>



<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company accounts for stock-based compensation in accordance with
FASB authoritative guidance regarding share-based payments. Total stock-based compensation was allocated as follows:</p>

<p style="font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" align="CENTER" style="border-collapse: collapse; width: 85%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year Ended December&nbsp;31,</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 55%; font-size: 10pt; text-align: left">Research and development</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 12%; font-size: 10pt; text-align: right">9,602</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 12%; font-size: 10pt; text-align: right">6,088</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 12%; font-size: 10pt; text-align: right">7,580</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">General and administrative</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">3,019</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">2,399</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">2,125</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Total stock-based compensation expense</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">12,621</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">8,487</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">9,705</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company grants stock option awards and restricted stock unit awards
to its employees, directors, and consultants under the Incentive Plan. Under the Incentive Plan, stock option awards are granted
with an exercise price equal to the market price of the Company&#8217;s stock at the date of grant. Commencing March&nbsp;1, 2011,
stock option awards and restricted stock units granted to employees generally vest 25% each year until fully vested after four
years. In January 2013, the Company made retention grants of stock option awards and restricted stock units. These awards vest
50% each year until fully vested after two years. In August 2013 and December 2014, the Company issued 1,032 and 1,250 performance-based
stock options, respectively. These awards vest upon successful completion of specific development milestones. As of December 31,
2017, 75% of the August 2013 grants have vested based upon achievement of three milestones: (1) successful completion of the OPuS-1
clinical trial, for which vesting occurred in the second quarter of 2014, (2) FDA approval of RAPIVAB, for which vesting occurred
in the fourth quarter of 2014, and (3) initiation of a Phase 1 clinical trial to evaluate the safety, pharmacokinetics and pharmacodynamics
of orally-administered BCX7353 in healthy volunteers, for which vesting occurred in the second quarter of 2015. As of December
31, 2017, 30% of the December 2014 grants have vested based upon achievement of successful completion of an HAE patient trial with
a 2<sup>nd</sup> generation compound, for which vesting occurred in August 2017. Thus, as of December 31, 2017, 25% of the August
2013 performance-based grants and 70% of the December 2014 performance-based grants remain unvested and no compensation expense
has been recognized for these portions of the previously issued performance-based grants. Stock option awards granted to non-employee
directors of the Company generally vest monthly over one year. All stock option awards have contractual terms of 5 to 10&nbsp;years.
The vesting exercise provisions of all awards granted under the Incentive Plan are subject to acceleration in the event of certain
stockholder-approved transactions, or upon the occurrence of a change in control as defined in the Incentive Plan.</p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<!-- Field: Page; Sequence: 72; Value: 60 -->
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    <div style="page-break-before: always; margin-top: 6pt"><p style="margin: 0pt"></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>BIOCRYST PHARMACEUTICALS, INC.<br> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>(In thousands, except per share amounts)</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>&nbsp;</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"></p><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<div><p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Related activity under the Incentive Plan is as follows:</p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" align="CENTER" style="border-collapse: collapse; width: 85%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Awards<br> Available</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Options<br> Outstanding</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Weighted<br> Average<br> Exercise<br> Price</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 55%; font-size: 10pt">Balance at December&nbsp;31, 2014</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; text-align: right">2,362</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; text-align: right">9,605</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 12%; font-size: 10pt; text-align: right">6.21</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Restricted stock awards granted</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(163</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Restricted stock awards cancelled</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Stock option awards granted</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(2,217</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,217</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">11.52</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Stock option awards exercised</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1,118</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">4.36</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt">Stock option awards cancelled</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">33</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(33</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: right">9.87</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">Balance at December&nbsp;31, 2015</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">16</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">10,671</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">7.50</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Plan amendment</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3,800</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Restricted stock awards granted</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(34</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Restricted stock awards cancelled</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">22</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Stock option awards granted</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(2,248</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,248</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3.20</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Stock option awards exercised</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(107</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2.63</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt">Stock option awards cancelled</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">717</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(717</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: right">10.78</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">Balance at December&nbsp;31, 2016</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2,273</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">12,095</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">6.55</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Plan amendment</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,000</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Restricted stock awards granted</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(22</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Restricted stock awards cancelled</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">12</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Stock option awards granted</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(3,915</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3,915</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">5.33</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Stock option awards exercised</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(438</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3.50</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt">Stock option awards cancelled</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,120</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(1,120</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: right">9.72</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; padding-bottom: 2.25pt">Balance at December&nbsp;31, 2017</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">468</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">14,452</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="padding-bottom: 2.25pt; font-size: 10pt; text-align: left">$</td><td style="padding-bottom: 2.25pt; font-size: 10pt; text-align: right">6.06</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">As of December 31, 2017, there were 210 restricted stock unit awards
outstanding.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">For stock option awards granted under the Incentive Plan during 2017,
2016 and 2015, the fair value was estimated on the date of grant using a Black-Scholes option pricing model and the assumptions
noted in the table below. The weighted average grant date fair value of these awards granted during 2017, 2016 and 2015 was $3.63,
$2.17 and $7.72, respectively. The fair value of the stock option awards is amortized to expense over the vesting periods using
a straight-line expense attribution method. The following explanations describe the assumptions used by the Company to value the
stock option awards granted during 2017, 2016, and 2015. The expected life is based on the average of the assumption that all outstanding
stock option awards will be exercised at full vesting and the assumption that all outstanding stock option awards will be exercised
at the midpoint of the current date (if already vested) or at full vesting (if not yet vested) and the full contractual term. The
expected volatility represents the volatility over the most recent period corresponding with the expected life. The Company has
assumed no expected dividend yield, as dividends have never been paid to stockholders and will not be for the foreseeable future.
The weighted average risk-free interest rate is the implied yield currently available on zero-coupon government issues with a remaining
term equal to the expected term.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Weighted Average Assumptions for Stock Option Awards Granted under the Incentive Plan</b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" align="CENTER" style="border-collapse: collapse; width: 85%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 55%; font-size: 10pt; text-align: left">Expected Life</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; text-align: right">5.5</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; text-align: right">5.5</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 12%; font-size: 10pt; text-align: right">5.5</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Expected Volatility</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">82</td><td style="font-size: 10pt; text-align: left">%</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">82</td><td style="font-size: 10pt; text-align: left">%</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">81</td><td style="font-size: 10pt; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Expected Dividend Yield</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">0.0</td><td style="font-size: 10pt; text-align: left">%</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">0.0</td><td style="font-size: 10pt; text-align: left">%</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">0.0</td><td style="font-size: 10pt; text-align: left">%</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Risk-Free Interest Rate</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">2.0</td><td style="font-size: 10pt; text-align: left">%</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1.4</td><td style="font-size: 10pt; text-align: left">%</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1.6</td><td style="font-size: 10pt; text-align: left">%</td></tr>
</table></div>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The total intrinsic value of stock option awards exercised under the
Incentive Plan was $1,964 during 2017, $339 during 2016 and $10,117 during 2015. The intrinsic value represents the total proceeds
(fair market value at the date of exercise, less the exercise price, times the number of stock option awards exercised) received
by all individuals who exercised stock option awards during the period.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The following table summarizes, at December&nbsp;31, 2017, by price
range: (1)&nbsp;for stock option awards outstanding under the Incentive Plan, the number of stock option awards outstanding, their
weighted average remaining life and their weighted average exercise price; and (2)&nbsp;for stock option awards exercisable under
the Plan, the number of stock option awards exercisable and their weighted average exercise price:</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" align="CENTER" style="border-collapse: collapse; width: 90%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; text-align: center">&nbsp;</td>
    <td style="font-size: 10pt; text-align: center">&nbsp;</td>
    <td style="font-size: 10pt; text-align: center">&nbsp;</td>
    <td style="font-size: 10pt; text-align: center">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td>
                                                               <td colspan="9" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Outstanding</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Exercisable</td></tr>
<tr style="vertical-align: bottom">
    <td colspan="2" style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid; text-align: left">Range</td>
    <td style="font-size: 10pt; text-align: center">&nbsp;</td>
    <td style="font-size: 10pt; text-align: center">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td>
                                                               <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Number</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Weighted<br> Average<br> Remaining<br> Life</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Weighted<br> Average<br> Exercise<br> Price</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Number</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Weighted<br> Average<br> Exercise<br> Price</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: center">$</td><td style="width: 5%; font-size: 10pt; font-weight: bold; text-align: center">0</td>
    <td style="width: 3%; font-size: 10pt; font-weight: bold; text-align: center"><font style="font-size: 10pt"><b>to</b></font></td>
    <td style="width: 5%; font-size: 10pt; font-weight: bold; text-align: center">3</td><td style="width: 2%; font-size: 10pt">&nbsp;</td>
    <td style="width: 12%; font-size: 10pt; text-align: right">1,724</td><td style="width: 2%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 14%; font-size: 10pt; text-align: right">4.7</td>
    <td style="width: 1%">&nbsp;</td><td style="width: 2%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 14%; font-size: 10pt; text-align: right">1.64</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 2%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 14%; font-size: 10pt; text-align: right">1,598</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 2%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 14%; font-size: 10pt; text-align: right">1.55</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: center">3</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center"><font style="font-size: 10pt"><b>to</b></font></td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">6</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">8,303</td><td style="font-size: 10pt">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">7.5</td>
    <td>&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">4.63</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">3,066</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">4.31</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: center">6</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center"><font style="font-size: 10pt"><b>to</b></font></td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">9</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">854</td><td style="font-size: 10pt">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">3.0</td>
    <td>&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">6.90</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">848</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">6.89</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: center">9</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center"><font style="font-size: 10pt"><b>to</b></font></td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">12</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">2,857</td><td style="font-size: 10pt">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">7.1</td>
    <td>&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">11.00</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">1,383</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">10.98</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; text-align: center">12</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center"><font style="font-size: 10pt"><b>to</b></font></td>
    <td style="font-size: 10pt; font-weight: bold; text-align: center">15</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">619</td><td style="font-size: 10pt">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">6.9</td>
    <td>&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">12.29</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="font-size: 10pt; text-align: right">308</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">12.39</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center">15</td>
    <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><font style="font-size: 10pt"><b>to</b></font></td>
    <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center">18</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">95</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right">7.5</td>
    <td>&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: right">15.39</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">47</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: right">15.39</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 2.25pt; font-size: 10pt; font-weight: bold; text-align: center">$</td><td style="padding-bottom: 2.25pt; font-size: 10pt; font-weight: bold; text-align: center">0</td>
    <td style="padding-bottom: 2.25pt; font-size: 10pt; font-weight: bold; text-align: center"><font style="font-size: 10pt"><b>to</b></font></td>
    <td style="padding-bottom: 2.25pt; font-size: 10pt; font-weight: bold; text-align: center">18</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">14,452</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="padding-bottom: 2.25pt; font-size: 10pt; text-align: right">6.8</td>
    <td>&nbsp;</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="padding-bottom: 2.25pt; font-size: 10pt; text-align: left">$</td><td style="padding-bottom: 2.25pt; font-size: 10pt; text-align: right">6.06</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td>&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">7,250</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="padding-bottom: 2.25pt; font-size: 10pt; text-align: left">$</td><td style="padding-bottom: 2.25pt; font-size: 10pt; text-align: right">5.69</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p></div>

<!-- Field: Page; Sequence: 73; Value: 60 -->
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    <div style="page-break-before: always; margin-top: 6pt"><p style="margin: 0pt"></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>BIOCRYST PHARMACEUTICALS, INC.<br> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>(In thousands, except per share amounts)</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>&nbsp;</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"></p><p style="margin: 0pt"></p></div>
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<div><p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The weighted average remaining contractual life of stock option awards
exercisable under the Incentive Plan at December&nbsp;31, 2017 was 5.1 years.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The aggregate intrinsic value of stock option awards outstanding and
exercisable under the Incentive Plan at December&nbsp;31, 2017 was $7,631. The aggregate intrinsic value represents the value (the
period&#8217;s closing market price, less the exercise price, times the number of in-the-money stock option awards) that would
have been received by all stock option award holders under the Incentive Plan had they exercised their stock option awards at the
end of the year.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The total fair value of the stock option awards vested under the Incentive
Plan was $9,310 during 2017, $6,380 during 2016 and $4,492 during 2015.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">As of December&nbsp;31, 2017, the number of stock option awards vested
and expected to vest under the Incentive Plan is 13,267. The weighted average exercise price of these stock option awards is $5.95
and their weighted average remaining contractual life is 6.8 years.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The following table summarizes the changes in the number and weighted-average
grant-date fair value of non-vested stock option awards during 2017:</p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" align="CENTER" style="border-collapse: collapse; width: 80%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Non-Vested<br> Stock Option<br> Awards</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Weighted Average<br> Grant-Date Fair<br> Value</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 67%; font-size: 10pt">Balance December&nbsp;31, 2016</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 13%; font-size: 10pt; text-align: right">5,598</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 2%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 13%; font-size: 10pt; text-align: right">5.40</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Stock option awards granted</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3,915</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3.63</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Stock option awards vested</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1,916</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">4.86</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Stock option awards forfeited</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(395</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">5.84</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; padding-bottom: 2.25pt">Balance December&nbsp;31, 2017</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">7,202</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">4.56</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">As of December&nbsp;31, 2017, there was approximately $17,785 of total
unrecognized compensation cost related to non-vested employee stock option awards and restricted stock units granted by the Company.
That cost is expected to be recognized as follows: $7,607 in 2018, $5,452 in 2019, $3,365 in 2020 and $1,361 in 2021.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><b><i>Employee Stock Purchase Plan</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company has reserved a total of 1,475&nbsp;shares of common stock
to be purchased under the ESPP, of which 326&nbsp;shares remain available for purchase at December&nbsp;31, 2017. Eligible employees
may authorize up to 15% of their salary to purchase common stock at the lower of 85% of the beginning or 85% of the ending price
during six-month purchase intervals. No more than 3 shares may be purchased by any one employee at the six-month purchase dates
and no employee may purchase stock having a fair market value at the commencement date of $25 or more in any one calendar year.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">There were 95, 75 and 41 shares of common
stock purchased under the ESPP in 2017, 2016, and 2015, respectively, at a weighted average price per share of $3.61, $4.36 and
$8.65, respectively. Expense of $200, $147 and $220 related to the ESPP was recognized during 2017, 2016, and 2015, respectively.
Compensation expense for shares purchased under the ESPP related to the purchase discount and the &#8220;look-back&#8221; option
were determined using a Black-Scholes option pricing model. The weighted average grant date fair values of shares granted under
the ESPP during 2017, 2016, and 2015, were $2.18, $1.95 and $4.93, respectively.</p></div></div><div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p></div><p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<!-- Field: Page; Sequence: 74; Value: 60 -->
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    <div style="page-break-before: always; margin-top: 6pt"><p style="margin: 0pt"></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>BIOCRYST PHARMACEUTICALS, INC.<br> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>(In thousands, except per share amounts)</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>&nbsp;</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"></p><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0"><b></b></p><p style="font-size: 10pt; margin: 0pt 0"><b></b></p><div data-td-statement-type="note"><p style="font-size: 10pt; margin: 0pt 0"><b>Note&nbsp;8&nbsp;&#8212; Income Taxes</b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company has incurred net losses since inception and, consequently,
has not recorded any U.S.&nbsp;Federal and state income tax expense or benefit. The differences between the Company&#8217;s effective
tax rate and the statutory tax rate in 2017, 2016, and 2015 are as follows:</p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" align="CENTER" style="border-collapse: collapse; width: 90%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 61%; font-size: 10pt; text-align: left">Income tax benefit at federal statutory rate</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">(23,024</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">(19,300</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">(15,057</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">State and local income taxes net of federal tax benefit</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1,611</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1,173</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(819</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Permanent items</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">910</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,057</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">560</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Rate change</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">71,155</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,080</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,012</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Expiration of attribute carryforwards</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">918</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">559</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">330</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">Effect of ASU 2016-09</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(5,949</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Research and development tax credits</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(1,977</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(4,681</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(10,454</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Orphan drug credit</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">564</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,798</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">4,307</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">Other</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,639</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">822</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(218</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Change in valuation allowance</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(42,625</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">19,838</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">20,339</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Income tax expense</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">&#8212;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">&#8212;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">&#8212;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In December 2017, the Tax Cuts and Jobs Act (&#8220;TCJA&#8221;) was
signed into law. Among other things, the TCJA permanently lowers the corporate federal income tax rate to 21% from the existing
maximum rate of 35%, effective for tax years including or commencing January 1, 2018. As a result of the reduction of the corporate
federal income tax rate to 21%, U.S. GAAP requires companies to revalue their deferred tax assets and deferred tax liabilities
as of the date of enactment, with the resulting tax effects accounted for in the reporting period of enactment. This revaluation
resulted in a provision of $73,474 to income tax expense in continuing operations and a corresponding reduction in the valuation
allowance. As a result, there was no impact on our consolidated statements of operations from the reduction in tax rate. The other
provisions of the TCJA did not have a material impact on the consolidated financial statements.</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>




<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">We adopted ASU 2016-09 during the quarter
ended March 31, 2017. As a result of the adoption, the net federal and state operating losses deferred tax assets increased by
$5,949 million and were offset by a corresponding increase in the valuation allowance. The adoption of ASU 2016-09 had no impact
on our consolidated balance sheets or consolidated statements of operations.</p>



<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company recognizes the impact of a tax position in its financial
statements if it is more likely than not that the position will be sustained on audit based on the technical merits of the position.
The Company has concluded that it has an uncertain tax position pertaining to its research and development and orphan drug credit
carryforwards. The Company has established these credits based on information and calculations it believes are appropriate and
the best estimate of the underlying credit. Any changes to the Company&#8217;s unrecognized tax benefits are offset by an adjustment
to the valuation allowance and there would be no impact on the Company&#8217;s financial statements. The Company does not expect
its unrecognized tax benefits to change significantly over the next 12 months.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">A reconciliation of the beginning and ending amount of unrecognized
tax benefits is as follows:</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" align="CENTER" style="border-collapse: collapse; width: 80%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 70%; font-size: 10pt">Balance at January&nbsp;1,</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 12%; font-size: 10pt; text-align: right">4,255</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 12%; font-size: 10pt; text-align: right">3,085</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Additions to current period tax positions</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">495</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,170</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Additions to prior period tax positions</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&#8212;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Reductions to prior period tax provisions</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&#8212;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&#8212;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; padding-bottom: 2.25pt">Balance at December&nbsp;31,</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">4,750</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">4,255</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">The Company&#8217;s ability to utilize the net operating loss
and tax credit carryforwards in the future may be subject to substantial restrictions in the event of past or future ownership
changes as defined in Section&nbsp;382 of the Internal Revenue Code of 1986, as amended and similar state tax law.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">Significant components of the Company&#8217;s deferred tax assets
and liabilities are as follows:</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" align="CENTER" style="border-collapse: collapse; width: 80%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Deferred tax assets:</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="width: 70%; font-size: 10pt; text-align: left; text-indent: 10pt">Net federal and state operating losses</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 12%; font-size: 10pt; text-align: right">117,787</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 12%; font-size: 10pt; text-align: right">158,618</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Research and development credits</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">55,208</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">53,231</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Deferred revenue</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">1,854</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3,484</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Stock-based compensation</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">6,424</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">8,952</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; padding-bottom: 1pt; text-indent: 10pt">Other</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">2,046</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">2,849</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left">Total deferred tax assets</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">183,319</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">227,134</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left">Deferred tax liabilities:</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Fixed assets</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(421</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(674</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt">Foreign currency derivative</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(478</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(1,415</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Total deferred tax liabilities</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(899</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(2,089</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Valuation allowance</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(182,420</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(225,045</td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Net deferred tax assets</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">&#8212;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td>
    <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right">&#8212;</td><td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td></tr>
</table></div>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

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    <div style="page-break-before: always; margin-top: 6pt"><p style="margin: 0pt"></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>BIOCRYST PHARMACEUTICALS, INC.<br> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>(In thousands, except per share amounts)</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>&nbsp;</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"></p><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<div><p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">The majority of the Company&#8217;s deferred
tax assets relate to net operating loss and research and development carryforwards that can only be realized if the Company is
profitable in future periods. It is uncertain whether the Company will realize any tax benefit related to these carryforwards.
Accordingly, the Company has provided a full valuation allowance against the net deferred tax assets due to uncertainties as to
their ultimate realization. The valuation allowance will remain at the full amount of the deferred tax assets until it is more
likely than not that the related tax benefits will be realized. The Company&#8217;s valuation allowance decreased by $42,625 in
2017 primarily because of the remeasurement required by TCJA and increased by $19,837 in 2016 and $20,339 in 2015.&nbsp;</p>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">As of December&nbsp;31, 2017, the Company had federal operating loss
carryforwards of $484,705, state net operating loss carryforwards of $431,470, and research and development and orphan drug credit
carryforwards of $59,958, which will expire at various dates from 2018 through 2036. The federal losses begin to expire in 2018,
the state losses begin to expire in 2018 and the research and development credit carryforwards begin to expire in 2018.</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Tax years 2014-2016 remain open to examination by the major taxing
jurisdictions to which the Company is subject. Additionally, years prior to 2014 are also open to examination to the extent of
loss and credit carryforwards from those years. The Company recognizes interest and penalties accrued related to unrecognized tax
benefits as components of its income tax provision. However, there were no provisions or accruals for interest and penalties in
2017, 2016 and 2015.</p></div></div><div><p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p></div><p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b></b></p><div data-td-statement-type="note"><p style="font-size: 10pt; margin: 0pt 0"><b>Note&nbsp;9&nbsp;&#8212; Employee 401(k) Plan</b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In January 1991, the Company adopted an employee retirement plan (&#8220;401(k)
Plan&#8221;) under Section&nbsp;401(k) of the Internal Revenue Code covering all employees. Employee contributions may be made
to the 401(k) Plan up to limits established by the Internal Revenue Service. Company matching contributions may be made at the
discretion of the Board of Directors. The Company made matching contributions of $664, $504 and $366, in 2017, 2016 and 2015, respectively.</p></div><p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b></b></p><p style="font-size: 10pt; margin: 0pt 0"><b></b></p><div data-td-statement-type="note"><p style="font-size: 10pt; margin: 0pt 0"><b>Note&nbsp;10&nbsp;&#8212; Collaborative and Other Research and Development Contracts</b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</p>
<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><i>National Institute of Allergy and Infectious Diseases (&#8220;NIAID/HHS&#8221;).</i>
In September 2013, NIAID/HHS contracted with the Company for the development of galidesivir as a treatment for Marburg virus disease.
NIAID/HHS, part of the National Institutes of Health, made an initial award of $5,000 to the Company. The goals of this contract,
including amendments, are to file IND applications for intravenous (&#8220;i.v.&#8221;) and intramuscular (&#8220;i.m.&#8221;)
galidesivir for the treatment of Marburg virus disease and other hemorrhagic fever virus diseases, including Ebola virus disease,
and to conduct an initial Phase 1 human clinical trial. As of December 31, 2017, the total NIAID/HHS contract amount to advance
the program through the completion of the Phase I clinical program is $39,477. As of December 31, 2017, all options have been exercised
under this contract.</p>
<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</p>


<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"><i>U.S.&nbsp;Department of Health and Human
Services (&#8220;BARDA/HHS&#8221;).</i> On March 31, 2015, the Company announced that BARDA/HHS had awarded the Company a contract
for the continued development of galidesivir as a potential treatment for diseases caused by RNA pathogens, including filoviruses.&nbsp;This
BARDA/HHS contract includes a base contract of $16,265 to support galidesivir drug manufacturing, as well as $22,855 in additional
development options that can be exercised by the government, bringing the potential value of the contract to $39,120. As of December
31, 2017, a total of $20,574 has been awarded under exercised options within this contract.</p>



<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">The contracts with NIAID/HHS and BARDA/HHS
are cost-plus-fixed-fee contracts. That is, the Company is entitled to receive reimbursement for all costs incurred in accordance
with the contract provisions that are related to the development of galidesivir plus a fixed fee, or profit. BARDA/HHS and NIAID/HHS
will make periodic assessments of progress and the continuation of the contract is based on the Company&#8217;s performance, the
timeliness and quality of deliverables, and other factors. The government has rights under certain contract clauses to terminate
these contracts. These contracts are terminable by the government at any time for breach or without cause.</p>



<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><i>Seqirus UK Limited (&#8220;SUL&#8221;).</i> On June 16, 2015, the
Company and Seqirus UK Limited ("SUL"), a limited company organized under the laws of the United Kingdom and a subsidiary
of CSL Limited, a company organized under the laws of Australia, entered into a License Agreement (the "SUL Agreement")
granting SUL and its affiliates worldwide rights to develop, manufacture and commercialize RAPIVAB (peramivir injection) for the
treatment of influenza except for the rights to conduct such activities in Israel, Japan, Korea and Taiwan (the permitted geographies
together constituting the "Territory"). Peramivir is an intravenous treatment for acute uncomplicated influenza and is
currently approved for use in the United States, Canada, Japan, Taiwan and Korea. Peramivir is the first and only intravenous influenza
treatment in the world and was approved by the U.S. Food and Drug Administration in December 2014 for the treatment of acute uncomplicated
influenza in patients 18 years and older who have been symptomatic for no more than two days. The Company retains all rights and
associated economics to procure pandemic stockpiling orders for RAPIVAB from the U.S. Government, while SUL has the right to pursue
government stockpiling outside the U.S.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

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    <div style="page-break-before: always; margin-top: 6pt"><p style="margin: 0pt"></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>BIOCRYST PHARMACEUTICALS, INC.<br> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>(In thousands, except per share amounts)</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>&nbsp;</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"></p><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<div><p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Pursuant to the SUL Agreement, RAPIVAB will be commercialized by CSL's
subsidiary, SUL, which specializes in influenza prevention through the supply of seasonal and pandemic vaccine to global markets.
SUL will manufacture, commercialize and exercise decision-making authority with respect to the development and commercialization
of RAPIVAB within the Territory and be responsible for all related costs, including sales and promotion.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">Under the terms of the SUL Agreement, the
Company is responsible for fulfilling all post-marketing approval commitments in connection with the FDA's approval of the NDA,
and upon fulfillment will transfer ownership of and financial responsibility for the NDA to SUL. Pursuant to potential rights to
sell RAPIVAB in Canada and the EU, the Company is also responsible for regulatory filings and interactions with the Health Canada
and the European Medicines Agency (&quot;EMA&quot;) until marketing approval for RAPIVAB is obtained and assigned to SUL. In accordance
with the SUL Agreement, the Company and SUL formed a joint steering committee, composed of an equal number of representatives from
each party, to oversee, review and coordinate the conduct and progress of the commercialization of RAPIVAB in the Territory and
any additional development.</P>







<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">Under the terms of the SUL Agreement, the
Company received an upfront payment of $33,740, has received $7,000 of milestone payments and may receive an additional $5,000
milestone payment related to the successful marketing approval by the EMA for an adult indication in the EU (ALPIVAB). The Company
is also entitled under the SUL Agreement to receive tiered royalties at a percentage rate beginning in the mid-teens contingent
upon meeting minimum thresholds of net sales, as well as a low-thirties percentage of the gross profit from government stockpiling
purchases made outside the U.S. Specifically, the Company receives tiered royalties at a percentage rate in the mid-teens to low-forties
on net sales in the U.S. during a Contract Year (defined as July 1 - June 30) and tiered royalties at a percentage rate in the
mid-teens to mid-twenties on net sales in the Territory, other than in the U.S., during a Calendar Year, each subject to certain
downward adjustments for circumstance or events impacting the overall market opportunity. SUL's royalty payment obligations commence
on the date of the SUL Agreement and expire, on a country-by-country basis, upon the later of (i) the expiration of legal exclusivity
in such country and (ii) ten years from the date of the SUL Agreement (the "Royalty Term"). The Company developed peramivir
under a license from UAB and will owe sublicense payments to them on any future milestone payments and/or royalties received by
the Company from SUL.</p>




<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;&nbsp;&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><i>Shionogi&nbsp;&amp; Co., Ltd. (&#8220;Shionogi&#8221;).</i> In
February 2007, the Company entered into an exclusive license agreement with Shionogi to develop and commercialize peramivir in
Japan for the treatment of seasonal and potentially life-threatening human influenza. Under the terms of the agreement, Shionogi
obtained rights to injectable formulations of peramivir in Japan. The Company developed peramivir under a license from UAB and
will owe sublicense payments to them on any future milestone payments and/or royalties received by the Company from Shionogi. In
October 2008, the Company and Shionogi amended the license agreement to expand the territory covered by the agreement to include
Taiwan. Shionogi has commercially launched peramivir under the commercial name RAPIACTA in Japan and Taiwan.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In December 2017, the Company, on behalf of Royalty Sub, instituted
arbitration proceedings against Shionogi in order to resolve&nbsp;a dispute with Shionogi under the Shionogi Agreement regarding
the achievement of sales milestones and escalating royalties.&nbsp;In the event that the Company prevails in the arbitration, any
amounts realized in the arbitration or in respect of the milestone payments and escalating royalties that are the subject of the
arbitration would be for the benefit of Royalty Sub and be used by Royalty Sub to service its obligations under the non-recourse
PhaRMA Notes (except for any amounts realized by the Company in respect of royalties relating to sales to Japanese governmental
entities, which amounts would be retained by the Company). The costs associated with the arbitration proceedings are expected to
be paid out of the assets of Royalty Sub in accordance with the terms of the indenture and servicing agreement relating to the
PhaRMA Notes, except to the extent such costs are recovered in connection with any arbitration award in favor of the Company and
Royalty Sub if they prevail in the arbitration proceedings. Arbitration proceedings, like other legal proceedings, are inherently
uncertain. As a result, the Company cannot assure you that the Company will prevail in the arbitration. As any arbitration award
in favor of the Company would accrue primarily to the benefit of Royalty Sub and the holders of the PhaRMA Notes, and because the
costs associated with the arbitration proceedings are expected to come out of the assets of Royalty Sub if not recovered as part
of any arbitration award in favor of the Company and Royalty Sub, the Company does not currently anticipate that these arbitration
proceedings will have a material adverse impact on the Company.</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&nbsp;</p>



<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><i>Green Cross Corporation (&#8220;Green Cross&#8221;).</i> In June
2006, the Company entered into an agreement with Green Cross to develop and commercialize peramivir in Korea. Under the terms of
the agreement, Green Cross will be responsible for all development, regulatory, and commercialization costs in Korea. The Company
received a one-time license fee of $250. The license also provides that the Company will share in profits resulting from the sale
of peramivir in Korea, including the sale of peramivir to the Korean government for stockpiling purposes. Furthermore, Green Cross
will pay the Company a premium over its cost to supply peramivir for development and any future marketing of peramivir products
in Korea.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><i></i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"><i>Mundipharma International Holdings Limited
(&#8220;Mundipharma&#8221;).</i> In February 2006, the Company entered into an exclusive, royalty bearing right and license agreement
with Mundipharma for the development and commercialization of Mundesine, a Purine Nucleoside Phosphorylase (&#8220;PNP&#8221;)
inhibitor, for use in oncology (the &#8220;Original Agreement&#8221;). Under the terms of the Original Agreement, Mundipharma obtained
rights to Mundesine in markets across Europe, Asia, and Australasia in exchange for a $10,000 up-front payment.</p>




<p style="font-size: 10pt; text-align: center; text-indent: 27pt; margin: 0pt 0"><b>&nbsp;</b></p></div>

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    <div style="page-break-before: always; margin-top: 6pt"><p style="margin: 0pt"></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>BIOCRYST PHARMACEUTICALS, INC.<br> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>(In thousands, except per share amounts)</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>&nbsp;</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"></p><p style="margin: 0pt"></p></div>
    <!-- Field: /Page -->

<div><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b></b></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">The Company deferred revenue recognition
of the $10,000 up-front payment that was received from Mundipharma in February&nbsp;2006 because the Company was involved in the
continued development of Mundesine. Amortization of this revenue commenced in February 2006 and was initially scheduled to end
in October 2017, which is the date of expiration for the last-to-expire patent covered by the agreement. The Company also deferred
revenue recognition of a $5,000 payment received from Mundipharma in connection with the initiation of a clinical trial in 2007.
Amortization of this revenue commenced in 2007 and was initially scheduled to end in October 2017. Under its agreement with AECOM/IRL,
the Company paid sublicense payments related to these upfront cash payments received from Mundipharma. Expense recognition of these
sublicense payments was deferred and recognized under the same term as the related deferred revenue.</p>



<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">On November&nbsp;11, 2011, the Company entered
into the Amended and Restated License and Development Agreement (the &#8220;Amended and Restated Agreement&#8221;) with Mundipharma,
amending and restating the Original Agreement. Under the terms of the Amended and Restated Agreement, Mundipharma obtained worldwide
rights to Mundesine. Commencing on November&nbsp;11, 2011, Mundipharma controls the development and commercialization of Mundesine
and assumes all future development and commercialization costs. The Amended and Restated Agreement provides for the possibility
of future event payments totaling $15,000 for achieving specified regulatory events for certain indications and tiered royalties
ranging from mid to high single-digit percentages of net product sales in each country where Mundesine is sold by Mundipharma.
These royalties are subject to downward adjustments based on the then-existing patent coverage and/or the availability of generic
compounds in each country.</p>



<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">The Amended and Restated Agreement is a multiple
element arrangement for accounting purposes, in which the Company is required to deliver to Mundipharma both the worldwide rights
to Mundesine in the field of oncology and the transfer of product data and know-how to permit Mundipharma to develop and commercialize
Mundesine (the &#8220;Knowledge Transfer&#8221;). The Company accounted for these elements as a combined unit of accounting as
they do not have stand-alone value to Mundipharma. The worldwide license rights were granted to Mundipharma on November&nbsp;11,
2011 and the Knowledge Transfer was completed during the first quarter of 2012. Upon completion of the Knowledge Transfer, the
remaining deferred revenue and deferred expense was recognized in full.</p>




<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><i>Albert Einstein College of Medicine of Yeshiva University and Industrial
Research, Ltd. (&#8220;AECOM&#8221; and &#8220;IRL&#8221; respectively).</i> In June 2000, the Company licensed a series of potent
inhibitors of PNP from AECOM and IRL, (collectively, the &#8220;Licensors&#8221;). The lead product candidates from this collaboration
are forodesine and ulodesine. The Company has obtained worldwide exclusive rights to develop and ultimately distribute these, or
any other, product candidates that might arise from research on these inhibitors. The Company has the option to expand the Agreement
to include other inventions in the field made by the investigators or employees of the Licensors. The Company agreed to use commercially
reasonable efforts to develop these drugs. In addition, the Company has agreed to pay certain milestone payments for each licensed
product (which range in the aggregate from $1,400 to almost $4,000&nbsp;per indication) for future development of these inhibitors,
single digit royalties on net sales of any resulting product made by the Company, and to share approximately one quarter of future
payments received from other third-party partners, if any. In addition, the Company has agreed to pay annual license fees, which
can range from $150 to $500, that are creditable against actual royalties and other payments due to the Licensors. This agreement
may be terminated by the Company at any time by giving 60&nbsp;days advance notice or in the event of material uncured breach by
the Licensors.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In May 2010, the Company amended the licensee agreement through which
the Company obtained worldwide exclusive rights to develop and ultimately distribute any product candidates that might arise from
research on a series of PNP inhibitors, including forodesine and ulodesine. Under the terms of the amendment, the Licensors agreed
to accept a reduction of one-half in the percentage of future payments received from third-party sub licensees of the licensed
PNP inhibitors that must be paid to the Licensors. This reduction does not apply to (i)&nbsp;any milestone payments the Company
may receive in the future under its license agreement dated February&nbsp;1, 2006 with Mundipharma and (ii)&nbsp;royalties received
from its sub licensees in connection with the sale of licensed products, for which the original payment rate will remain in effect.
The rate of royalty payments to the Licensors based on net sales of any resulting product made by the Company remains unchanged.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In consideration for these modifications in 2010, the Company issued
to the Licensors shares of its common stock with an aggregate value of $5,911 and paid the Licensors $90 in cash. Additionally,
at the Company&#8217;s sole option and subject to certain agreed upon conditions, any future non-royalty payments due to be paid
by it to the Licensors under the license agreement may be made either in cash, in shares of its common stock, or in a combination
of cash and shares.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">On November&nbsp;17, 2011, the Company further amended its agreements
with the Licensors whereby the Licensors agreed to accept a reduction of one-half in the percentage of Net Proceeds (as defined)
received by the Company under its Amended and Restated Agreement with Mundipharma that will be paid to AECOM/IRL.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">On June&nbsp;19, 2012, the Company further amended its agreements
with AECOM/IRL whereby the parties clarified the definition of the field with respect to PNP inhibition and AECOM/IRL agreed to
exclusive worldwide license of galidesivir to BioCryst for any antiviral use.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p></div>

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    <div style="page-break-before: always; margin-top: 6pt"><p style="margin: 0pt"></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>BIOCRYST PHARMACEUTICALS, INC.<br> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>(In thousands, except per share amounts)</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>&nbsp;</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"></p><p style="margin: 0pt"></p></div>
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<div><p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">At its sole option and subject to certain agreed upon conditions,
any future non-royalty payments due to be paid by the Company to AECOM/IRL under the license agreement may be made either in cash,
in shares of the Company&#8217;s common stock, or in a combination of cash and shares.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">On January 6, 2014, the Carbohydrate Chemistry Research Team from
Callaghan Innovation Research Limited, formerly Industrial Research Limited, transferred to Victoria University of Wellington (&#8220;VUW&#8221;)
to establish the Ferrier Research Institute. The intellectual property rights relating to this research team, and the contracts
relating to that intellectual property were transferred to a wholly owned subsidiary of VUW, including the contracts to which BioCryst
is a party. The parties executed novation agreements in order to effectuate the transfer. Except for a substitution of parties,
the terms and conditions of the contracts are substantially the same</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><i>The University of Alabama at Birmingham (&#8220;UAB&#8221;).</i>
The Company currently has agreements with UAB for influenza neuraminidase and complement inhibitors. Under the terms of these agreements,
UAB performed specific research for the Company in return for research payments and license fees. UAB has granted the Company certain
rights to any discoveries in these areas resulting from research developed by UAB or jointly developed with the Company. The Company
has agreed to pay single digit royalties on sales of any resulting product and to share in future payments received from other
third-party partners. The Company has completed the research under the UAB agreements. These two agreements have initial 25-year
terms, are automatically renewable for five-year terms throughout the life of the last patent and are terminable by the Company
upon three months&#8217; notice and by UAB under certain circumstances. Upon termination both parties shall cease using the other
parties&#8217; proprietary and confidential information and materials, the parties shall jointly own joint inventions and UAB shall
resume full ownership of all UAB licensed products. There is currently no activity between the Company and UAB on these agreements,
but when the Company licenses this technology, such as in the case of the Shionogi, Green Cross and SUL agreements, or commercializes
products related to these programs, the Company will owe sublicense fees or royalties on amounts it receives.</p></div></div><div><p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p></div><p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b></b></p><div data-td-statement-type="note"><p style="font-size: 10pt; margin: 0pt 0"><b>Note&nbsp;11&nbsp;&#8212; Quarterly Financial Information (Unaudited)</b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<div data-td-taggable-table=""><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; text-align: center">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">First</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Second</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Third</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Fourth</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold">2017 Quarters</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="width: 48%; font-size: 10pt; text-indent: 10pt">Revenues</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">9,437</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">3,099</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">8,760</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td><td style="width: 1%; font-size: 10pt">&nbsp;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 10%; font-size: 10pt; text-align: right">3,890</td><td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Net Loss</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(14,219</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(16,886</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(15,134</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(19,543</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Basic and diluted net loss per share</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(0.19</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(0.21</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(0.18</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(0.20</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold">2016 Quarters</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-indent: 10pt">Revenues</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">$</td><td style="font-size: 10pt; text-align: right">4,820</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">$</td><td style="font-size: 10pt; text-align: right">4,787</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">$</td><td style="font-size: 10pt; text-align: right">7,763</td><td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">$</td><td style="font-size: 10pt; text-align: right">8,983</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Net Loss</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(22,832</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(16,281</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(11,528</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(4,503</td><td style="font-size: 10pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Basic and diluted net loss per share</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(0.31</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(0.22</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(0.16</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">(0.06</td><td style="font-size: 10pt; text-align: left">)</td></tr>
</table></div>

<p style="font-size: 10pt; margin: 0pt 0"><b></b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p></div><p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0"><b></b></p><p style="font-size: 10pt; margin: 0pt 0"><b></b></p><div data-td-statement-type="note"><p style="font-size: 10pt; margin: 0pt 0"><b>Note&nbsp;12&nbsp;&#8212; Recent Accounting Pronouncements</b> &nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">On December 22, 2017, the SEC staff issued
Staff Accounting Bulletin No. 118 (&ldquo;SAB 118&rdquo;), which provides guidance on accounting for the tax effects of the Tax
Cuts and Jobs Act (&ldquo;TCJA&rdquo;). SAB 118 provides a measurement period that should not extend beyond one year from the TCJA
enactment date for companies to complete the accounting under ASC 740, Income Taxes. As of December 31, 2017, the Company has not
completed its accounting related to the enactment of the Tax Act.&nbsp;However, the Company has made reasonable estimates of the
effects on its income tax provision with respect to certain items, primarily the revaluation of its existing U.S. deferred tax
balances as described in Note 8.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&nbsp;</P>






<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In November 2016, the Financial Accounting Standards Board (&#8220;FASB&#8221;)
issued Accounting Standards Update 2016-18: <i>Statement of Cash Flows (Topic 230): Restricted Cash</i> (&#8220;ASU 2016-18&#8221;).
The new standard requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents
and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted
cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period
and end-of-period total amounts shown on the statement of cash flows. The standard is effective for annual periods beginning after
December&nbsp;15, 2017, and interim periods within those annual reporting periods. Early adoption is permitted. The Company is
currently evaluating the impact of this update on its consolidated financial statements.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In August 2016, the FASB issued Accounting Standards Update No. 2016-15:
<i>Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments</i> (&#8220;ASU 2016-15&#8221;).
The amendments in this update clarify how entities should classify certain cash receipts and cash payments on the Consolidated
Statements of Cash Flows. The new guidance also clarifies how the predominance principle should be applied when cash receipts and
cash payments have aspects of more than one class of cash flows. ASU 2016-15 will be effective for annual periods beginning after
December 15, 2017, including interim periods within those annual reporting periods, but early adoption is permitted. The Company
is currently evaluating the impact of this update on its consolidated financial statements.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

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    <div style="page-break-before: always; margin-top: 6pt"><p style="margin: 0pt"></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>BIOCRYST PHARMACEUTICALS, INC.<br> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>(In thousands, except per share amounts)</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>&nbsp;</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"></p><p style="margin: 0pt"></p></div>
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<div><p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In March 2016, the FASB issued Accounting Standards Update No. 2016-09:
<i>Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting</i> (&#8220;ASU 2016-09&#8221;).
The amendments in this update simplify several aspects of the accounting for employee share-based payment transactions, including
the accounting for income taxes, forfeitures and statutory tax withholding requirements, as well as classification in the statement
of cash flows. ASU 2016-09 eliminates the requirement that excess tax benefits be realized as a reduction in current taxes payable
before the associated tax benefit can be recognized as an increase in paid in capital. Under ASU 2016-09, these previously unrecognized
deferred tax assets were recognized on a modified retrospective basis as of January 1, 2017, the start of the year in which the
Company adopted ASU 2016-09. The U.S. federal and state net operating losses and credits recognized as of January 1, 2017 have
been offset by a full valuation allowance. As a result, there is no cumulative-effect adjustment to retained earnings as of December
31, 2017. The Company elected not to change its policy on accounting for forfeitures and continues to estimate the total number
of awards for which the requisite service period will not be rendered. The Company adopted ASU 2016-09 as of January 1, 2017. Adoption
of ASU 2016-09 did not have a material impact on the Company&#8217;s consolidated financial statements.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In February 2016, the FASB issued Accounting Standards Update No.
2016-02: <i>Leases (Topic 842)</i> (&#8220;ASU 2016-02&#8221;). The amendments in this update require lessees, among other things,
to recognize lease assets and lease liabilities on the balance sheet for all leases with terms greater than 12 months. This update
also introduces new disclosure requirements for leasing arrangements. ASU 2016-02 will be effective for the Company in fiscal year
2019, but early adoption is permitted. The Company is currently evaluating the impact of this update on its consolidated financial
statements.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In January 2016, the FASB issued Accounting Standards Update No. 2016-01:
<i>Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities</i>
(&#8220;ASU 2016-01&#8221;). The amendments in this update address certain aspects of recognition, measurement, presentation and
disclosure of financial instruments. In particular, the amendments in this update supersede, for public business entities, the
requirement to disclose the methods and significant assumptions used in calculating the fair value of financial instruments required
to be disclosed for financial instruments measured at amortized cost on the balance sheet. ASU 2016-01 will be effective for the
Company in fiscal year 2018, but early adoption is permitted. The Company does not expect this standard to have a material impact
on its consolidated financial statements.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In July 2015, the FASB issued Accounting Standards Update No. 2015-11:
<i>Inventory (Topic 330): Simplifying the Measurement of Inventory</i> (&#8220;ASU 2015-11&#8221;), which changes the measurement
principle for inventory from the lower of cost or market to the lower of cost and net realizable value. ASU 2015-11 defines net
realizable value as the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion,
disposal, and transportation. The update does not apply to inventory that is measured using last-in, first-out or the retail inventory
method. The update applies to all other inventory, which includes inventory that is measured using first-in, first-out or average
cost methods. The amendments in ASU 2015-11 are effective for the Company for fiscal years, and the interim periods within those
years, beginning after December 15, 2016. The Company adopted ASU 2015-11 as of January 1, 2017. Adoption did not have a material
impact on its consolidated financial statements.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In May 2014, the FASB issued Standards Update No. 2014-09: <i>Revenue
from Contracts with Customers (Topic 606)</i> (&#8220;ASU 2014-09&#8221;), which provides a single, comprehensive revenue recognition
model for all contracts with customers. The core principal of this ASU is that an entity should recognize revenue when it transfers
promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled
in exchange for those goods or services. ASU 2014-09 also requires additional disclosure about the nature, amount, timing and uncertainty
of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets
recognized from costs incurred to obtain or fulfill a contract. In July 2015, the FASB finalized a one year delay in the effective
date of this standard, which will now be effective January 1, 2018; however, early adoption is permitted any time after the original
effective date, January 1, 2017. Companies can transition to the new standard under the full retrospective method or the modified
retrospective method. The Company will adopt the standard effective January 1, 2018 and expects to utilize the modified retrospective
methodology. The Company is continuing to evaluate the effect that the standard will have on its consolidated financial statements
and related disclosures.</p></div></div><div><p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p></div><p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0"><b>&nbsp;</b></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b></b></p><div data-td-statement-type="note"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Note 13&nbsp;&mdash; Subsequent Event</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0"><b><i>Agreement and Plan of Merger</i></b></p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt">On January&nbsp;21, 2018,&nbsp;BioCryst,
Idera Pharmaceuticals, Inc. (&#8220;Idera&#8221;), a Delaware corporation, Nautilus Holdco,&nbsp;Inc., a Delaware corporation and
a direct, wholly owned subsidiary of BioCryst (&#8220;Holdco&#8221;),&nbsp;Island Merger Sub,&nbsp;Inc., a Delaware corporation
and a direct, wholly owned subsidiary of Holdco (&#8220;Merger Sub A&#8221;), and Boat Merger Sub,&nbsp;Inc., a Delaware corporation
and a direct, wholly owned subsidiary of Holdco (&#8220;Merger Sub B&#8221;), entered into an Agreement and Plan of Merger (the
&#8220;Merger Agreement&#8221;). Pursuant to the Merger Agreement, and subject to the satisfaction or waiver of the conditions
specified therein, (a)&nbsp;Merger Sub A shall be merged with and into Idera (the &#8220;Idera Merger&#8221;), with Idera surviving
as a wholly owned subsidiary of Holdco, and (b)&nbsp;Merger Sub B shall be merged with and into BioCryst (the &#8220;BioCryst Merger&#8221;,
and, together with the Idera Merger, the &#8220;Mergers&#8221;), with BioCryst surviving as a wholly owned subsidiary of Holdco.
Holdco will be renamed prior to the closing of the Mergers.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&nbsp;</p>

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    <div style="page-break-before: always; margin-top: 6pt"><p style="margin: 0pt"></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>BIOCRYST PHARMACEUTICALS, INC.<br> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>(In thousands, except per share amounts)</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>&nbsp;</b></p><p style="font-size: 10pt; text-align: center; margin: 0pt 0"></p><p style="margin: 0pt"></p></div>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt">Pursuant to the Merger Agreement, <FONT STYLE="color: #333333">u</FONT>pon
completion of the Mergers, each issued and outstanding share of Idera common stock will be converted into the right to receive
0.20 shares of Holdco common stock (the &quot;Idera exchange ratio&quot;), and each issued and outstanding share of BioCryst common
stock will be converted into the right to receive 0.50 shares of Holdco common stock (the &quot;BioCryst exchange ratio&quot; and
together with the Idera exchange ratio, the &quot;exchange ratios&quot;). The exchange ratios will not be adjusted for changes
in the market price of either BioCryst common stock or Idera common stock between the date of signing of the Merger Agreement and
completion of the Mergers. Upon completion of the Mergers, each issued and outstanding share of Idera preferred stock (with certain
exceptions) will be converted into the right to receive an amount of Holdco common stock based on its liquidation preference.</P>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt; color: #333333">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"><FONT STYLE="color: #333333">The Merger Agreement
has been unanimously approved by the boards of directors of BioCryst and Idera.&nbsp;The transaction is subject to approval by
the stockholders of both companies, as well as regulatory approvals and satisfaction of other customary closing conditions.&nbsp;On
February 15, 2018, the Federal Trade Commission notified BioCryst that its request for early termination of the waiting period
under the HSR Act had been granted. </FONT>Affiliates of Baker Bros. Advisors, LP (&quot;Baker Brothers&quot;), which, as of the
date of the Merger Agreement, are the beneficial owner of approximately 14% of issued and outstanding BioCryst common stock and
approximately 9% of issued and outstanding Idera common stock, have agreed, among other things, to vote their shares of BioCryst
common stock and Idera common stock in favor of the proposal to adopt the Merger Agreement at each of the BioCryst special meeting
and Idera special meeting. <FONT STYLE="color: #333333">The combined company, which will be renamed post-closing, will be headquartered
in Exton, PA, at the current Idera headquarters, with a consolidated research center in Birmingham, AL, at the current BioCryst
facility. The transaction is expected to be completed during the second quarter of 2018.</FONT></P>






<p style="font-size: 10pt; margin: 0pt 0"><b></b></p>

<p style="font-size: 10pt; margin: 0pt 0"><b>&nbsp;</b></p>

<p style="font-size: 10pt; margin: 0pt 0"><b></b></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">On March 6, 2018, a purported stockholder of&nbsp;BioCryst&nbsp;filed
a putative class action lawsuit against&nbsp;BioCryst, the BioCryst board of directors, Idera, Holdco, Merger Sub A and Merger
Sub B&nbsp;in the United States District Court for the District of Delaware, captioned&nbsp;<i>Melvyn Klein v. BioCryst Pharmaceuticals,
Inc., et al.</i>, Case No. 1:18-cv-00358-UNA. The complaint alleges that the&nbsp;defendants violated Sections 14(a) and 20(a)
of the Exchange Act because the preliminary Form S-4 filed with&nbsp;the Securities and Exchange Commission allegedly contains
material omissions and misstatements.&nbsp;The&nbsp;complaint seeks, among other things, injunctive relief preventing the consummation
of the Mergers until&nbsp;additional disclosures are made, and damages. The defendants believe that the action is without merit.</p></div><p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>



<p style="font-size: 10pt; margin: 0pt 0"><b>&nbsp;</b></p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><a name="a_026"></a><b>Report of Independent Registered Public Accounting Firm</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To the Stockholders and Board of Directors
of BioCryst Pharmaceuticals, Inc.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Opinion on the Financial Statements
</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have audited the accompanying consolidated
balance sheets of BioCryst Pharmaceuticals, Inc. (the Company) as of December 31, 2017 and 2016, the related consolidated statements
of comprehensive loss, stockholders&#8217; equity (deficit) and cash flows for each of the three years in the period ended December
31, 2017, and the related notes (collectively referred to as the &#8220;consolidated financial statements&#8221;). In our opinion,
the consolidated financial statements present fairly, in all material respects, the financial position of the Company at December
31, 2017 and 2016, and the results of its operations and its cash flows for each of the three years in the period ended December
31, 2017, in conformity with U.S. generally accepted accounting principles.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We also have audited, in accordance with
the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company's internal control over financial
reporting as of December 31, 2017, based on criteria established in Internal Control-Integrated Framework issued by the Committee
of Sponsoring Organizations of the Treadway Commission (2013 framework) and our report dated March 12, 2018 expressed an unqualified
opinion thereon.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Basis for Opinion </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">These financial statements are the responsibility
of the Company's management. Our responsibility is to express an opinion on the Company&#8217;s financial statements based on our
audits. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company
in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission
and the PCAOB.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We conducted our audits in accordance with
the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures
to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures
that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures
in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made
by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a
reasonable basis for our opinion.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">/s/ Ernst &amp; Young LLP</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have served as the Company&#8217;s auditor
since 1993.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Raleigh, North Carolina</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">March 12, 2018</p>


<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-align: center; text-indent: 0.5in; margin: 0pt 0">&nbsp;</p>
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<p style="font-size: 10pt; text-align: center; text-indent: 0.5in; margin: 0pt 0"><b><a name="a_027"></a></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Report of Independent Registered Public
Accounting Firm</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To the Stockholders and Board of Directors
of BioCryst Pharmaceuticals, Inc.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Opinion on Internal Control over Financial
Reporting </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have audited BioCryst Pharmaceuticals
Inc.&#8217;s internal control over financial reporting as of December 31, 2017, based on criteria established in Internal Control&#8212;Integrated
Framework issued by the Committee of Sponsoring Organizations of the Treadway (2013 framework) (the COSO criteria). In our opinion,
BioCryst Pharmaceuticals, Inc. (the Company) maintained, in all material respects, effective internal control over financial reporting
as of December 31, 2017, based on the COSO criteria.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We also have audited, in accordance with
the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the consolidated balance sheets of BioCryst
Pharmaceuticals, Inc. as of December 31, 2017 and 2016, the related consolidated statements of comprehensive loss, stockholders&#8217;
equity (deficit) and cash flows for each of the three years in the period ended December 31, 2017, and the related notes and our
report dated March 12, 2018 expressed an unqualified opinion thereon.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Basis for Opinion </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company&#8217;s management is responsible
for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control
over financial reporting included in the accompanying Management&#8217;s Report on Internal Control Over Financial Reporting. Our
responsibility is to express an opinion on the Company&#8217;s internal control over financial reporting based on our audit. We
are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance
with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the
PCAOB.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We conducted our audit in accordance with
the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether
effective internal control over financial reporting was maintained in all material respects. Our audit included obtaining an understanding
of internal control over financial reporting, assessing the risk that a material weakness exists, testing and evaluating the design
and operating effectiveness of internal control based on the assessed risk, and performing such other procedures as we considered
necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Definition and Limitations of Internal
Control Over Financial Reporting </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A company&#8217;s internal control over
financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and
the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company&#8217;s
internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records
that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide
reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with
generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with
authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely
detection of unauthorized acquisition, use, or disposition of the company&#8217;s assets that could have a material effect on the
financial statements.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Because of its inherent limitations, internal
control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness
to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree
of compliance with the policies or procedures may deteriorate.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">/s/ Ernst &amp; Young LLP</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Raleigh, North Carolina</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">March 12, 2018</p>



<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>


<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 10%"><font style="font-size: 10pt"><b><a name="a_017"></a>ITEM 9.</b></font></td>
    <td style="width: 1%; text-align: justify">&nbsp;</td>
    <td style="width: 89%; text-align: justify"><font style="font-size: 10pt"><b><i>CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE</i></b></font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 6pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 6pt">None.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 6pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 6pt">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 10%"><a name="a_018"></a><font style="font-size: 10pt"><b>ITEM 9A.</b></font></td>
    <td style="width: 1%; text-align: justify">&nbsp;</td>
    <td style="width: 89%; text-align: justify"><font style="font-size: 10pt"><b><i>CONTROLS AND PROCEDURES</i></b></font></td></tr>
</table>
<p style="font-size: 10pt; margin: 0pt 0 0pt 4.5pt"><b>&nbsp;</b></p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Evaluation of Disclosure Controls and Procedures</b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 4.5pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">We maintain a set of disclosure controls and procedures that are designed
to ensure that information relating to BioCryst Pharmaceuticals, Inc. required to be disclosed in our periodic filings under the
Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), is recorded, processed, summarized and reported in
a timely manner under the Exchange Act of 1934. We carried out an evaluation as required by paragraph (b)&nbsp;of Rule&nbsp;13a-15
or Rule&nbsp;15d-15 under the Exchange Act, under the supervision and with the participation of management, including our Chief
Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and
procedures (as defined in Rule&nbsp;13a-15(e) or Rule&nbsp;15d-15 under the Exchange Act). Based upon that evaluation, the Chief
Executive Officer and Chief Financial Officer concluded that, as of December&nbsp;31, 2017, our disclosure controls and procedures
are effective. We believe that our disclosure controls and procedures will ensure that information required to be disclosed in
the reports filed or submitted by us under the Exchange Act is recorded, processed, summarized and reported within the time periods
specified in the rules and forms of the Securities and Exchange Commission, and include controls and procedures designed to ensure
that information required to be disclosed by us in such reports is accumulated and communicated to our management, including our
Chairman and Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Management&#8217;s Report on Internal Control Over Financial Reporting</b></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 4.5pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Management of BioCryst Pharmaceuticals, Inc. is responsible for establishing
and maintaining adequate internal control over financial reporting and for the assessment of the effectiveness of internal control
over financial reporting. As defined by the Securities and Exchange Commission, internal control over financial reporting is a
process designed by, or under the supervision of our principal executive and principal financial officers and effected by our Board
of Directors, management and other personnel, to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of the financial statements in accordance with U.S.&nbsp;GAAP.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Our internal control over financial reporting is supported by written
policies and procedures that (1)&nbsp;pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect
our transactions and dispositions of our assets; (2)&nbsp;provide reasonable assurance that transactions are recorded as necessary
to permit preparation of the financial statements in accordance with U.S. GAAP, and that our receipts and expenditures are being
made only in accordance with authorizations of our management and directors; and (3)&nbsp;provide reasonable assurance regarding
prevention or timely detection of unauthorized acquisition, use or disposition of our assets that could have a material effect
on the financial statements.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Because of its inherent limitations, internal control over financial
reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject
to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies
or procedures may deteriorate.</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In connection with the preparation of our annual financial statements,
management has undertaken an assessment of the effectiveness of our internal control over financial reporting as of December&nbsp;31,
2017, based on criteria established in Internal Control&nbsp;&#8212; Integrated Framework issued by the Committee of Sponsoring
Organizations of the Treadway Commission (2013 Framework) (the COSO Framework). Management&#8217;s assessment included an evaluation
of the design of our internal control over financial reporting and testing of the operational effectiveness of those controls.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Based on this assessment, management has concluded that as of December&nbsp;31,
2017, our internal control over financial reporting was effective. Management believes our internal control over financial reporting
will provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements
for external purposes in accordance with U.S. GAAP.&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Ernst&nbsp;&amp; Young LLP, the independent registered public accounting
firm that audited our financial statements included in this report, has issued an attestation report on the Company&#8217;s internal
control over financial reporting, a copy of which appears on page&nbsp;80 of this annual report.</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"><b>Changes in Internal Control over Financial Reporting</b> &nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">There have been no changes in our internal control over financial
reporting that occurred during the quarter ended December&nbsp;31, 2017 that have materially affected, or are reasonably likely
to materially affect, our internal control over financial reporting.&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 10%"><font style="font-size: 10pt"><b><a name="a_019"></a>ITEM 9B.</b></font></td>
    <td style="width: 1%; text-align: justify">&nbsp;</td>
    <td style="width: 89%; text-align: justify"><font style="font-size: 10pt"><b><i>OTHER INFORMATION</i></b></font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 6pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 6pt">None.&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>&nbsp;</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b></b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>&nbsp;</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>PART&nbsp;III</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 10%"><a name="a_020"></a><font style="font-size: 10pt"><b>ITEM 10.</b></font></td>
    <td style="width: 1%; text-align: justify">&nbsp;</td>
    <td style="width: 89%; text-align: justify"><font style="font-size: 10pt"><b><i>DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE</i></b></font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The information required by this item is set forth under the captions
<i>&#8220;Items to be Voted on&nbsp;&#8212; 1. Election of Directors,&#8221; &#8220;Executive Officers,&#8221; &#8220;Section&nbsp;16(a)
Beneficial Ownership Reporting Compliance&#8221;</i> and <i>&#8220;Corporate Governance&#8221;</i> in our definitive Proxy Statement
for the 2018 Annual Meeting of Stockholders and incorporated herein by reference or, in the event we do not prepare and file such
Proxy Statement, such information shall be filed as an amendment to this Form 10-K. Such information shall be filed no later than
April 30, 2018.</p>



<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 10%"><a name="a_021"></a><font style="font-size: 10pt"><b>ITEM 11.</b></font></td>
    <td style="width: 1%; text-align: justify">&nbsp;</td>
    <td style="width: 89%; text-align: justify"><font style="font-size: 10pt"><b><i>EXECUTIVE COMPENSATION</i></b></font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The information required by this item is set forth under the captions
<i>&#8220;Compensation Discussion and Analysis,&#8221; &#8220;Summary Compensation Table,&#8221; &#8220;Grants of Plan-Based Awards
in 2017,&#8221; &#8220;Outstanding Equity Awards at December&nbsp;31, 2017,&#8221; &#8220;2017 Option Exercises and Stock Vested,&#8221;
&#8220;Potential Payments Upon Termination or Change in Control,&#8221; &#8220;2017 Director Compensation,&#8221; &#8220;Compensation
Committee Interlocks and Insider Participation&#8221;</i> and <i>&#8220;Compensation Committee Report&#8221;</i> in our definitive
Proxy Statement for the 2018 Annual Meeting of Stockholders and incorporated herein by reference or, in the event we do not prepare
and file such Proxy Statement, such information shall be filed as an amendment to this Form 10-K. Such information shall be filed
no later than April 30, 2018.&nbsp;</p>



<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 10%"><font style="font-size: 10pt"><b><a name="a_022"></a>ITEM 12.</b></font></td>
    <td style="width: 1%; text-align: justify">&nbsp;</td>
    <td style="width: 89%; text-align: justify"><font style="font-size: 10pt"><b><i>SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS</i></b></font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The information required by this item is set forth under the captions
<i>&#8220;Equity Compensation Plan Information&#8221;</i> and <i>&#8220;Security Ownership of Certain Beneficial Owners and Management&#8221;</i>
in our definitive Proxy Statement for the 2018 Annual Meeting of Stockholders and incorporated herein by reference or, in the event
we do not prepare and file such Proxy Statement, such information shall be filed as an amendment to this Form 10-K. Such information
shall be filed no later than April 30, 2018.</p>



<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 10%"><font style="font-size: 10pt"><b><a name="a_023"></a>ITEM 13.</b></font></td>
    <td style="width: 1%; text-align: justify">&nbsp;</td>
    <td style="width: 89%; text-align: justify"><font style="font-size: 10pt"><b><i>CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE</i></b></font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The information required by this item is set forth under the captions
<i>&#8220;Certain Relationships and Related Transactions&#8221;</i> and &#8220;Corporate <i>Governance&#8221;</i> in our definitive
Proxy Statement for the 2018 Annual Meeting of Stockholders and incorporated herein by reference or, in the event we do not prepare
and file such Proxy Statement, such information shall be filed as an amendment to this Form 10-K. Such information shall be filed
no later than April 30, 2018.</p>



<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 10%"><font style="font-size: 10pt"><b><a name="a_024"></a>ITEM 14.</b></font></td>
    <td style="width: 1%; text-align: justify">&nbsp;</td>
    <td style="width: 89%; text-align: justify"><font style="font-size: 10pt"><b><i>PRINCIPAL ACCOUNTING FEES AND SERVICES</i></b></font></td></tr>
</table>
<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The information required by this item is set forth under the caption
<i>&#8220;Ratification of Appointment of Independent Registered Public Accountants&#8221;</i> in our definitive Proxy Statement
for the 2018 Annual Meeting of Stockholders and incorporated herein by reference or, in the event we do not prepare and file such
Proxy Statement, such information shall be filed as an amendment to this Form 10-K. Such information shall be filed no later than
April 30, 2018.</p>



<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></p>

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<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b>PART&nbsp;IV</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 10%"><font style="font-size: 10pt"><b><a name="a_025"></a>ITEM 15.</b></font></td>
    <td style="width: 1%; text-align: justify">&nbsp;</td>
    <td style="width: 89%; text-align: justify"><font style="font-size: 10pt"><b><i>EXHIBITS, FINANCIAL STATEMENT SCHEDULES</i></b></font></td></tr>
</table>
<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><i>&nbsp;</i></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><i>(a)&nbsp;Financial Statements</i></p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">The following financial statements appear in Item&nbsp;8 of this Form&nbsp;10-K:</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: bottom">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="3" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Page&nbsp;in</b></font><br>
<font style="font-size: 10pt"><b>Form&nbsp;10-K</b></font></td></tr>
<tr style="vertical-align: bottom">
    <td style="width: 86%"><a href="#a_012"><font style="font-size: 10pt"><u>Consolidated Balance Sheets at December&nbsp;31, 2017 and 2016</u></font></a></td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 2%">&nbsp;</td>
    <td style="width: 9%; text-align: right"><a href="#a_012"><font style="font-size: 10pt"><u>57</u></font></a></td>
    <td style="width: 2%">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><a href="#a_013"><font style="font-size: 10pt"><u>Consolidated Statements of Comprehensive Loss for the years ended December&nbsp;31, 2017, 2016 and 2015</u></font></a></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><a href="#a_013"><font style="font-size: 10pt"><u>58</u></font></a></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td><a href="#a_014"><font style="font-size: 10pt"><u>Consolidated Statements of Cash Flows for the years ended December&nbsp;31, 2017, 2016 and 2015</u></font></a></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><a href="#a_014"><font style="font-size: 10pt"><u>59</u></font></a></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><a href="#a_015"><font style="font-size: 10pt"><u>Consolidated Statements of Stockholders&#8217; Equity for the years ended December&nbsp;31, 2017, 2016 and 2015</u></font></a></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><a href="#a_015"><font style="font-size: 10pt"><u>60</u></font></a></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td><a href="#a_016"><font style="font-size: 10pt"><u>Notes to Consolidated Financial Statements</u></font></a></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><a href="#a_016"><font style="font-size: 10pt"><u>61</u></font></a></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><a href="#a_026"><font style="font-size: 10pt"><u>Report of Independent Registered Public Accounting Firm on Consolidated Financial Statements</u></font></a></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><a href="#a_026"><font style="font-size: 10pt"><u>82</u></font></a></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td><a href="#a_027"><font style="font-size: 10pt"><u>Report of Independent Registered Public Accounting Firm on Internal Control</u></font></a></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><a href="#a_027"><font style="font-size: 10pt"><u>83</u></font></a></td>
    <td>&nbsp;</td></tr>
</table>
<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">No financial statement schedules are included because the information
is either provided in the consolidated financial statements or is not required under the related instructions or is inapplicable
and such schedules therefore have been omitted.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 12pt">(b)&nbsp; <i>Exhibits.</i></p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 10%"><font style="font-size: 10pt"><b><u>Number</u></b></font></td>
    <td style="width: 2%">&nbsp;</td>
    <td style="width: 88%"><font style="font-size: 10pt"><b><u>Description</u></b></font></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000110465918003194/a18-3548_1ex2d1.htm#EXHIBIT2_1_081843" style="-sec-extract: exhibit"><font style="font-size: 10pt">2.1*</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000110465918003194/a18-3548_1ex2d1.htm#EXHIBIT2_1_081843" style="-sec-extract: exhibit"><font style="font-size: 10pt">Agreement and Plan of Merger, dated as January 21, 2018, by and among BioCryst Pharmaceuticals, Inc., Idera Pharmaceuticals, Inc., Nautilus Holdco, Inc., Island Merger Sub, Inc. and Boat Merger Sub, Inc. Incorporated by reference to Exhibit 2.1 to the Company&#8217;s Form 8-K filed January 22, 2018.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000103570406000836/d42297exv3w1.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">3.1</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000103570406000836/d42297exv3w1.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Third Restated Certificate of Incorporation of Registrant. Incorporated by reference to Exhibit 3.1 to the Company&#8217;s Form 8-K filed December 22, 2006.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000136231007001386/c70813exv3w1.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">3.2</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000136231007001386/c70813exv3w1.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Certificate of Amendment to the Third Restated Certificate of Incorporation of Registrant. Incorporated by reference to Exhibit 3.1 to the Company&#8217;s Form 8-K filed July 24, 2007.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312514186707/d722313dex31.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">3.3</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312514186707/d722313dex31.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Certificate of Amendment to the Third Restated Certificate of Incorporation of Registrant. Incorporated by reference to Exhibit 3.1 to the Company&#8217;s Form 8-K filed May 7, 2014.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000136231008006580/c76716exv3w1.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">3.4</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000136231008006580/c76716exv3w1.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Certificate of Increase of Authorized Number of Shares of Series B Junior Participating Preferred Stock. Incorporated by reference to Exhibit 3.1 to the Company&#8217;s Form 8-K filed November 4, 2008.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312514186707/d722313dex32.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">3.5</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312514186707/d722313dex32.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Certificate of Increase of Authorized Number of Shares of Series B Junior Participating Preferred Stock. Incorporated by reference to Exhibit 3.2 to the Company&#8217;s Form 8-K filed May 7, 2014.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000136231008006580/c76716exv3w2.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">3.6</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000136231008006580/c76716exv3w2.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amended and Restated Bylaws of Registrant effective October 29, 2008. Incorporated by reference to Exhibit 3.2 to the Company&#8217;s Form 8-K filed November 4, 2008.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000110465918003194/a18-3548_1ex3d1.htm#Exhibit3_1_084143" style="-sec-extract: exhibit"><font style="font-size: 10pt">3.7</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000110465918003194/a18-3548_1ex3d1.htm#Exhibit3_1_084143" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment to Amended and Restated By-Laws of BioCryst Pharmaceuticals, Inc., dated January 21, 2018. Incorporated by reference to Exhibit 3.1 to the Company&#8217;s Form 8-K filed January 22, 2018.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000095012311046591/g27110exv4w3.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">4.1</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000095012311046591/g27110exv4w3.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Indenture, dated as of March 9, 2011 by and between JPR Royalty Sub LLC and U.S. Bank National Association, as trustee. Incorporated by reference to Exhibit 4.3 of the Company&#8217;s Form 10-Q filed May&nbsp;6, 2011.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312512248790/d358788dex101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.1&amp;</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312512248790/d358788dex101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amended and Restated Stock Incentive Plan dated March 29, 2012. Incorporated by reference to Exhibit 10.1 of the Company&#8217;s Form 8-K, filed May 25, 2012.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312514181823/d721175dex101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.2&amp;</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312514181823/d721175dex101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amended and Restated Stock Incentive Plan dated March 8, 2014. Incorporated by reference to Exhibit 10.1 to the Company&#8217;s Form 8-K filed May 5, 2014.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184316010246/exh_101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.3&amp;</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184316010246/exh_101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amended and Restated Stock Incentive Plan, dated April 4, 2016.&nbsp;&nbsp;Incorporated by reference to Exhibit 10.1 to the Company&#8217;s Registration Statement on Form S-8, filed May 23, 2016.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184317003361/exh_101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.4&amp;</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184317003361/exh_101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amended and Restated Stock Incentive Plan dated April 3, 2017. Incorporated by reference to Exhibit 10.1 to the Company&#8217;s Form 8-K filed May 30, 2017.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312512248790/d358788dex102.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.5&amp;</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312512248790/d358788dex102.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amended and Restated Employee Stock Purchase Plan dated March 29, 2012. Incorporated by reference to the Company&#8217;s Form 8-K, filed May 25, 2012.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312514181823/d721175dex102.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.6&amp;</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312514181823/d721175dex102.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amended and Restated Employee Stock Purchase Plan dated March 8, 2014. Incorporated by reference to Exhibit 10.2 to the Company&#8217;s Form 8-K filed May 5, 2014.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000095014408001624/g12086exv10w4.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.7&amp;</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000095014408001624/g12086exv10w4.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Form of Notice of Grant of Non-Employee Director Automatic Stock Option and Stock Option Agreement. Incorporated by reference to Exhibit 10.4 of the Company&#8217;s Form 10-K filed March 4, 2008.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000095014408001624/g12086exv10w5.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.8&amp;</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000095014408001624/g12086exv10w5.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Form of Notice of Grant of Stock Option and Stock Option Agreement. Incorporated by reference to Exhibit 10.5 of the Company&#8217;s Form 10-K filed March 4, 2008.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184315001186/exh_107.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.9&amp;</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184315001186/exh_107.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Form of Notice of Grant of Stock Option and Stock Option Agreement.&nbsp;&nbsp;Incorporated by reference to Exhibit 10.7 of the Company&#8217;s Form 10-K filed March 2, 2015.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td></td></tr></table>

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<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 10%">&nbsp;</td>
    <td style="width: 2%">&nbsp;</td>
    <td style="width: 88%">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184315001186/exh_108.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.10&amp;</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184315001186/exh_108.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Form of Notice of Grant of Restricted Stock Unit Award and Restricted Stock Unit Agreement.&nbsp;&nbsp;Incorporated by reference to Exhibit 10.8 of the Company&#8217;s Form 10-K filed March 2, 2015.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312512109082/d314104dex101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.11&amp;</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312512109082/d314104dex101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Annual Incentive Plan. Incorporated by reference to Exhibit 10.1 of the Company&#8217;s Form 8-K filed March 12, 2012.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000095014408001624/g12086exv10w2.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.12&amp;</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000095014408001624/g12086exv10w2.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Executive Relocation Policy. Incorporated by reference to Exhibit 10.2 of the Company&#8217;s Form&nbsp;10-K filed March 4, 2008.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000095014407002193/g06036exv10w12.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.13&amp;</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000095014407002193/g06036exv10w12.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amended and Restated Employment Letter Agreement dated February 14, 2007, by and between the Company and Jon P. Stonehouse. Incorporated by reference to Exhibit 10.12 to the Company&#8217;s Form 10-K for the year ended December 31, 2006, filed March 14, 2007.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000095012311053914/g27379exv10w1.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.14&amp;</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000095012311053914/g27379exv10w1.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Employment Letter Agreement between BioCryst Pharmaceuticals, Inc. and Thomas R. Staab II, dated May 23, 2011. Incorporated by reference to Exhibit 10.1 of the Company&#8217;s Form 8-K filed May 25, 2011.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000136231008004374/c74405exv10w27.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.15&amp;</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000136231008004374/c74405exv10w27.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Employment Letter Agreement between BioCryst Pharmaceuticals, Inc. and William P. Sheridan dated June 12, 2008. Incorporated by reference to Exhibit 10.27 of the Company&#8217;s Form 10-Q filed August 8, 2008.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312514091609/d668682dex1010.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.16&amp;</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312514091609/d668682dex1010.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Employment Letter Agreement between BioCryst Pharmaceuticals, Inc. and Yarlagadda S. Babu dated April 27, 2012. Incorporated by reference to Exhibit 10.10 of the Company&#8217;s Form 10-K filed March 10, 2014.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312514091609/d668682dex1011.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.17&amp;</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312514091609/d668682dex1011.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Employment Letter Agreement between BioCryst Pharmaceuticals, Inc. and Alane P. Barnes dated August 8, 2013. Incorporated by reference to Exhibit 10.11 of the Company&#8217;s Form 10-K filed March 10, 2014.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184315001186/exh_1016.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.18&amp;</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184315001186/exh_1016.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Employment Letter Agreement between BioCryst Pharmaceuticals, Inc. and Lynne Powell dated December 30, 2014.&nbsp;&nbsp;Incorporated by reference to Exhibit 10.16 of the Company&#8217;s Form 10-K filed March 2, 2015.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000136231007001714/c70974exv10w3.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.19#</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000136231007001714/c70974exv10w3.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Agreement dated January 3, 2007, between BioCryst Pharmaceuticals, Inc. and the Department of Health and Human Services, as amended by Amendment number 1 dated January 3, 2007 and Amendment number 2 dated May 11, 2007. Incorporated by reference to Exhibit 10.3 to the Company&#8217;s Form 10-Q filed August 9, 2007. (Portions omitted pursuant to request for confidential treatment.)</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000095014408001624/g12086exv10w6.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.20</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000095014408001624/g12086exv10w6.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #3 to the Agreement between BioCryst Pharmaceuticals, Inc. and the Department of Health and Human Services, dated October 2, 2007. Incorporated by reference to Exhibit 10.6 of the Company&#8217;s Form 10-K filed March 4, 2008.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000136231008004374/c74405exv10w29.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.21</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000136231008004374/c74405exv10w29.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #4 to the Agreement between BioCryst Pharmaceuticals, Inc. and the Department of Health and Human Services dated April 3, 2008. Incorporated by reference to Exhibit 10.29 of the Company&#8217;s Form 10-Q filed August 8, 2008.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000136231008004374/c74405exv10w30.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.22</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000136231008004374/c74405exv10w30.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #5 to the Agreement between BioCryst Pharmaceuticals, Inc. and the Department of Health and Human Services dated July 2, 2008. Incorporated by reference to Exhibit 10.30 of the Company&#8217;s Form 10-Q filed August 8, 2008.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000136231008006904/c76957exv10w1.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.23</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000136231008006904/c76957exv10w1.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #6 to the Agreement between BioCryst Pharmaceuticals, Inc. and the Department of Health and Human Services dated August&nbsp;18, 2008. Incorporated by reference to Exhibit 10.1 of the Company&#8217;s Form 8-K filed November&nbsp;7, 2008.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000095014409001988/g17975exv10w12.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.24</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000095014409001988/g17975exv10w12.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #7 to the Agreement between BioCryst Pharmaceuticals, Inc. and the Department of Health and Human Services dated November&nbsp;17, 2008. Incorporated by reference to Exhibit 10.12 of the Company&#8217;s Form 10-K filed March&nbsp;6, 2009.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000095012310022477/g22405exv10w13.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.25</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000095012310022477/g22405exv10w13.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #8 to the Agreement between BioCryst Pharmaceuticals, Inc. and the Department of Health and Human Services dated March 13, 2009. Incorporated by reference to Exhibit&nbsp;10.13 of the Company&#8217;s Form 10-K filed March 9, 2010.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000095012309058582/c91654exv10w1.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.26</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000095012309058582/c91654exv10w1.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #9 to the Agreement between BioCryst Pharmaceuticals, Inc. and the Department of Health and Human Services dated September 18, 2009. Incorporated by reference to Exhibit 10.1 of the Company&#8217;s Form 10-Q filed November 6, 2009.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000095012309058582/c91654exv10w2.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.27</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000095012309058582/c91654exv10w2.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #10 to the Agreement between the Company and the U.S. Department of Health &amp; Human Services, dated October 15, 2009. Incorporated by reference to Exhibit 10.2 of the Company&#8217;s Form 10-Q filed November 6, 2009.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000095012311025567/g26459exv10w25.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.28</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000095012311025567/g26459exv10w25.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #11 to the Agreement between the Company and the U.S. Department of Health &amp; Human Services, dated February 23, 2011. Incorporated by reference to Exhibit 10.25 of the Company&#8217;s Form 10-K filed March 15, 2011.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312513210965/d514841dex101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.29</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312513210965/d514841dex101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Stop-Work Order from U.S. Department of Health and Human Services, dated March 26, 2013, relating to Agreement dated January 3, 2007 between the Company and the U.S. Department of Health and Human Services. Incorporated by reference to Exhibit 10.1 of the Company&#8217;s Form 10-Q filed May 9, 2013.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td></td></tr></table>

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<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 10%">&nbsp;</td>
    <td style="width: 2%">&nbsp;</td>
    <td style="width: 88%">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312514091609/d668682dex1023.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.30</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312514091609/d668682dex1023.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #13 to the Agreement between the Company and the U.S. Department of Health &amp; Human Services, dated February 15, 2012. Incorporated by reference to Exhibit 10.23 of the Company&#8217;s Form 10-K filed March 10, 2014.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312513247739/d550350dex101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.31</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312513247739/d550350dex101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #14 to the Agreement between the Company and the U.S. Department of Health &amp; Human Services, dated June 4, 2013. Incorporated by reference to Exhibit 10.1 of the Company&#8217;s Form 10-Q filed June 5, 2013.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312513434942/d605961dex101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.32#</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312513434942/d605961dex101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #15 to the Agreement between the Company and the U.S. Department of Health &amp; Human Services, dated September 5, 2013. Incorporated by reference to Exhibit 10.1 of the Company&#8217;s Form 10-Q filed November 8, 2013. (Portions omitted pursuant to request for confidential treatment.)</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312513481935/d648526dex101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.33</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312513481935/d648526dex101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #16 to the Agreement between the Company and the U.S. Department of Health &amp; Human Services, dated December 17, 2013. Incorporated by reference to Exhibit 10.1 of the Company&#8217;s Form 8-K filed December 23, 2013.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312514068702/d682931dex101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.34</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312514068702/d682931dex101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #17 to the Agreement between the Company and the U.S. Department of Health &amp; Human Services, dated February 21, 2014. Incorporated by reference to Exhibit 10.1 of the Company&#8217;s Form 8-K filed February 26, 2014.</font></a></td></tr>
</table>
<p style="font-size: 10pt; margin: 0pt 0 0pt 6pt">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 6pt"></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr>
    <td style="vertical-align: top"><a href="http://www.sec.gov/Archives/edgar/data/882796/000095012310022477/g22405exv10w16.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.35</font></a></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2"><a href="http://www.sec.gov/Archives/edgar/data/882796/000095012310022477/g22405exv10w16.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Order for Supplies or Services from the U.S. Department of Health &amp; Human Services, dated November 4, 2009. Incorporated by reference to Exhibit 10.16 of the Company&#8217;s Form 10-K filed March 9, 2010.</font></a></td>
    </tr>
<tr>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&nbsp;</td>
    </tr>
<tr>
    <td style="vertical-align: top"><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312514128842/d703438dex101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.36</font></a></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2" style="vertical-align: top"><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312514128842/d703438dex101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #18 to the Agreement between BioCryst Pharmaceuticals, Inc. and the U.S. Department of Health and Human Services, dated March 28, 2014. Incorporated by reference to Exhibit 10.1 to the Company&#8217;s Form 8-K filed April 3, 2014.</font></a></td>
    </tr>
<tr>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&nbsp;</td>
    </tr>
<tr>
    <td style="vertical-align: top"><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312514179042/d719810dex101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.37</font></a></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2" style="vertical-align: top"><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312514179042/d719810dex101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #19 to the Agreement between BioCryst Pharmaceuticals, Inc. and the U.S. Department of Health and Human Services, dated April 29, 2014. Incorporated by reference to Exhibit 10.1 to the Company&#8217;s Form 8-K filed May 2, 2014.</font></a></td>
    </tr>
<tr>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&nbsp;</td>
    </tr>
<tr>
    <td style="vertical-align: top"><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312514226853/d736465dex101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.38</font></a></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2" style="vertical-align: top"><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312514226853/d736465dex101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #20 to the Agreement to the Agreement between BioCryst Pharmaceuticals, Inc. and the U.S. Department of Health and Human Services, dated May 30, 2014. Incorporated by reference to Exhibit 10.1 to the Company&#8217;s Form 8-K filed June 5, 2014.</font></a></td>
    </tr>
<tr>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&nbsp;</td>
    </tr>
<tr>
    <td style="vertical-align: top"><a href="http://www.sec.gov/Archives/edgar/data/882796/000136231007000766/c70517exv10w4.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.39#</font></a></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2" style="vertical-align: top"><a href="http://www.sec.gov/Archives/edgar/data/882796/000136231007000766/c70517exv10w4.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">License, Development and Commercialization Agreement dated as of February 28, 2007, by and between the Company and Shionogi &amp; Co., Ltd. Incorporated by reference to Exhibit 10.4 to the Company&#8217;s Form 10-Q filed May 10, 2007. (Portions omitted pursuant to request for confidential treatment.)</font></a></td>
    </tr>
<tr>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&nbsp;</td>
    </tr>
<tr>
    <td style="vertical-align: top"><a href="http://www.sec.gov/Archives/edgar/data/882796/000095014409001988/g17975exv10w19.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.40#</font></a></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2" style="vertical-align: top"><a href="http://www.sec.gov/Archives/edgar/data/882796/000095014409001988/g17975exv10w19.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">First Amendment to License, Development and Commercialization Agreement, effective as of September 30, 2008, between the Company and Shionogi &amp; Co., Ltd. Incorporated by reference to Exhibit 10.19 to the Company&#8217;s Form 10-K filed March 6, 2009. (Portions omitted pursuant to request for confidential treatment.)</font></a></td>
    </tr>
<tr>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&nbsp;</td>
    </tr>
<tr>
    <td style="vertical-align: top"><a href="http://www.sec.gov/Archives/edgar/data/882796/000089155400001871/0000891554-00-001871-0002.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.41</font></a></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2" style="vertical-align: top"><a href="http://www.sec.gov/Archives/edgar/data/882796/000089155400001871/0000891554-00-001871-0002.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Riverchase Business Park Warehouse Lease dated July 12, 2000 between RBP, LLC an Alabama Limited Liability Company and the Registrant for office/warehouse space. Incorporated by reference to Exhibit 10.8 to the Company&#8217;s Form 10-Q for the second quarter ending June 30, 2000 filed August 8, 2000.</font></a></td>
    </tr>
<tr>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&nbsp;</td>
    </tr>
<tr>
    <td style="vertical-align: top"><a href="http://www.sec.gov/Archives/edgar/data/882796/000136231007001714/c70974exv10w4.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.42</font></a></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2" style="vertical-align: top"><a href="http://www.sec.gov/Archives/edgar/data/882796/000136231007001714/c70974exv10w4.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Third Amendment to Lease Agreement dated August 7, 2007, by and between Riverchase Capital LLC, a Florida limited liability company, Stow Riverchase, LLC, a Florida limited liability company, as successor landlord to RBP, LLC and the Company. Incorporated by reference to Exhibit 10.4 of the Company&#8217;s Form 10-Q filed August 9, 2007.</font></a></td>
    </tr>
<tr>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&nbsp;</td>
    </tr>
<tr>
    <td style="vertical-align: top"><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312513100999/d444056dex1027.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.43</font></a></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2" style="vertical-align: top"><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312513100999/d444056dex1027.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Fourth Amendment to the Lease Agreement dated February 1, 2012, by and between Riverchase Capital LLC, a Florida limited liability company, Stow Riverchase, LLC, a Florida limited liability company, as successor landlord to RBP, LLC and the Company. Incorporated by reference to Exhibit 10.27 of the Company&#8217;s Form 10-K filed March 11, 2013.</font></a></td>
    </tr>
<tr>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&nbsp;</td>
    </tr>
<tr>
    <td style="vertical-align: top"><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184315001186/exh_1042.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.44</font></a></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2" style="vertical-align: top"><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184315001186/exh_1042.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Fifth Amendment to Lease Agreement dated January 15, 2015, by and between Riverchase Capital LLC, a Florida limited liability company, Stow Riverchase, LLC, a Florida limited liability company, as successor landlord to RBP, LLC and the Company.&nbsp;&nbsp;Incorporated by reference to Exhibit 10.42 of the Company&#8217;s Form 10-K filed March 2, 2015.</font></a></td>
    </tr>
<tr>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&nbsp;</td>
    </tr>
<tr>
    <td style="vertical-align: top"><a href="http://www.sec.gov/Archives/edgar/data/882796/000136231007001618/c70922exv4w1.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.45</font></a></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2" style="vertical-align: top"><a href="http://www.sec.gov/Archives/edgar/data/882796/000136231007001618/c70922exv4w1.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Stock and Warrant Purchase Agreement dated as of August 6, 2007, by and among BioCryst Pharmaceuticals, Inc. and each of the Investors identified on the signature pages thereto. Incorporated by reference to Exhibit 4.1 of the Company&#8217;s Form 8-K filed August 7, 2007.</font></a></td>
    </tr>
<tr>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&nbsp;</td>
    </tr>
<tr>
    <td style="vertical-align: top"><a href="http://www.sec.gov/Archives/edgar/data/882796/000095013405003342/d22636exv4w1.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.46</font></a></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2" style="vertical-align: top"><a href="http://www.sec.gov/Archives/edgar/data/882796/000095013405003342/d22636exv4w1.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Stock Purchase Agreement, dated as of February&nbsp;17, 2005, by and among BioCryst Pharmaceuticals, Inc., Baker Bros. Investments, L.P., Baker Biotech Fund II, L.P., Baker Bros. Investments II, L.P., Baker Biotech Fund&nbsp;II (Z), L.P., Baker/Tisch Investments, L.P., Baker Biotech Fund III, L.P., Baker Biotech Fund&nbsp;I, L.P., Baker Biotech Fund&nbsp;III (Z), L.P. and 14159, L.P. Incorporated by reference to Exhibit 4.1 to the Company&#8217;s Form 8-K filed February&nbsp;17, 2005.</font></a></td>
    </tr>
<tr>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&nbsp;</td>
    </tr>
<tr>
    <td style="vertical-align: top"><a href="http://www.sec.gov/Archives/edgar/data/882796/000103570406000304/d35569exv10w2.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.47#</font></a></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2" style="vertical-align: top"><a href="http://www.sec.gov/Archives/edgar/data/882796/000103570406000304/d35569exv10w2.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Development and License Agreement dated as of February 1, 2006, by and between BioCryst Pharmaceuticals, Inc. and Mundipharma International Holdings Limited. Incorporated by reference to Exhibit 10.2 to the Company&#8217;s Form 8-K/A filed May 2, 2006. (Portions omitted pursuant to request for confidential treatment.)</font></a></td>
    </tr>
<tr>
    <td style="width: 10%">&nbsp;</td>
    <td style="width: 2%">&nbsp;</td>
    <td style="width: 88%">&nbsp;</td>
    <td style="width: 0">&nbsp;</td>
    </tr>
</table>
<p style="font-size: 10pt; margin: 0pt 0 0pt 6pt">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0 0pt 6pt"></p>

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<p style="font-size: 10pt; margin: 0pt 0 0pt 6pt">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"><tr><td style="vertical-align: top"><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312512098926/d306545dex1032.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.48#</font></a></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2" style="vertical-align: top"><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312512098926/d306545dex1032.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amended and Restated Development and License Agreement, dated as of November 11, 2011, by and between BioCryst Pharmaceuticals, Inc. and Mundipharma International Corporation Limited. Incorporated by reference to Exhibit 10.32 to the Company&#8217;s Form 10-K filed March 6, 2012. (Portions omitted pursuant to request for confidential treatment.)</font></a></td>
    </tr>
<tr>
    <td style="vertical-align: top">&nbsp;</td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2" style="vertical-align: top">&nbsp;</td>
    </tr>
<tr>
    <td style="vertical-align: top"><a href="http://www.sec.gov/Archives/edgar/data/882796/000095013405022335/d30856exv10w1.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.49#</font></a></td>
    <td style="vertical-align: top">&nbsp;</td>
    <td colspan="2" style="vertical-align: top"><a href="http://www.sec.gov/Archives/edgar/data/882796/000095013405022335/d30856exv10w1.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">License Agreement dated as of June 27, 2000, by and among Albert Einstein College of Medicine, Industrial Research, Ltd. and BioCryst Pharmaceuticals, Inc., as amended by the First Amendment Agreement dated as of July 26, 2002 and the Second Amendment Agreement dated as of April 15, 2005. Incorporated by reference to Exhibit 10.1 to the Company&#8217;s Form 8-K filed November 30, 2005. (Portions omitted pursuant to request for confidential treatment.)</font></a></td>
    </tr>
<tr>
    <td style="vertical-align: top; width: 10%">&nbsp;</td>
    <td style="vertical-align: top; width: 2%">&nbsp;</td>
    <td style="vertical-align: top; width: 88%">&nbsp;</td>
    <td style="width: 0">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000095012310022477/g22405exv10w33.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.50#</font></a></td>
    <td>&nbsp;</td>
    <td colspan="2"><a href="http://www.sec.gov/Archives/edgar/data/882796/000095012310022477/g22405exv10w33.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Third Amendment Agreement by and among Albert Einstein College of Medicine, Industrial Research, Ltd. and BioCryst Pharmaceuticals, Inc., dated as of December&nbsp;11, 2009. Incorporated by reference to Exhibit 10.33 to the Company&#8217;s Form 10-K filed March&nbsp;9, 2010. (Portions omitted pursuant to request for confidential treatment.)</font></a></td></tr>
</table>
<p style="font-size: 10pt; margin: 0pt 0 0pt 6pt"></p>


<p style="font-size: 10pt; margin: 0pt 0 0pt 6pt">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 10%"><a href="http://www.sec.gov/Archives/edgar/data/882796/000095012310074183/g24253exv10w1.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.51#</font></a></td>
    <td style="width: 2%">&nbsp;</td>
    <td style="width: 88%"><a href="http://www.sec.gov/Archives/edgar/data/882796/000095012310074183/g24253exv10w1.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Fourth Amendment Agreement by and among Albert Einstein College of Medicine, Industrial Research, Ltd. and BioCryst Pharmaceuticals, Inc., dated as of May 5, 2010. Incorporated by reference to Exhibit 10.1 to the Company&#8217;s Form 10-Q filed August 6, 2010. (Portions omitted pursuant to request for confidential treatment.)</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312512098926/d306545dex1036.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.52#</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312512098926/d306545dex1036.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Fifth Amendment Agreement by and among Albert Einstein College of Medicine, Industrial Research, Ltd. and BioCryst Pharmaceuticals, Inc., dated as of November 17, 2011. Incorporated by reference to Exhibit 10.36 to the Company&#8217;s Form 10-K filed March 6, 2012. (Portions omitted pursuant to request for confidential treatment.)</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312512343906/d350863dex101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.53#</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312512343906/d350863dex101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Sixth Amendment Agreement by and among Albert Einstein College of Medicine, Industrial Research, Ltd. and BioCryst Pharmaceuticals, Inc., dated as of June 19, 2012. Incorporated by reference to Exhibit 10.1 to the Company&#8217;s Form 10-Q filed August 8, 2012. (Portions omitted pursuant to request for confidential treatment.)</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184315004473/exh_106.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.54</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184315004473/exh_106.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Novation Agreement among Albert Einstein College of Medicine of Yeshiva University, BioCryst Pharmaceuticals, Inc., Mundipharma International Corporation Limited, Callaghan Innovation Research Limited, and Victoria Link Limited, dated May 18, 2015.&nbsp;&nbsp;Incorporated by reference to Exhibit 10.6 to the Company&#8217;s Form 10-Q filed August 7, 2015.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184315004473/exh_107.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.55</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184315004473/exh_107.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Novation Agreement among Albert Einstein College of Medicine of Yeshiva University, BioCryst Pharmaceuticals, Inc., Callaghan Innovation Research Limited, and Victoria Link Limited, dated June 24, 2015.&nbsp;&nbsp;Incorporated by reference to Exhibit 10.7 to the Company&#8217;s Form 10-Q filed August 7, 2015.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000095012311046591/g27110exv10w1.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.56</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000095012311046591/g27110exv10w1.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Purchase and Sale Agreement, dated as of March 9, 2011 between BioCryst Pharmaceuticals, Inc. and JPR Royalty Sub LLC. Incorporated by reference to Exhibit 10.1 of the Company&#8217;s Form 10-Q filed May 6, 2011.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000095012311046591/g27110exv10w2.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.57</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000095012311046591/g27110exv10w2.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Pledge and Security Agreement, dated as of March 9, 2011 between BioCryst Pharmaceuticals, Inc. and U.S. Bank National Association, as trustee. Incorporated by reference to Exhibit 10.2 of the Company&#8217;s Form 10-Q filed May 6, 2011.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000095012311046591/g27110exv10w3.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.58</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000095012311046591/g27110exv10w3.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Confirmation of terms and conditions of ISDA Master Agreement, dated as of March 7, 2011, between Morgan Stanley Capital Services Inc. and BioCryst Pharmaceuticals, Inc. dated as of March 9, 2011. Incorporated by reference to Exhibit 10.3 of the Company&#8217;s Form 10-Q filed May 6, 2011.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312513434942/d605961dex102.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.59#</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312513434942/d605961dex102.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Agreement, dated as of September&nbsp;12, 2013, between BioCryst Pharmaceuticals, Inc. and the National Institute of Allergy and Infectious Diseases. Incorporated by reference to Exhibit 10.2 of the Company&#8217;s Form 10-Q filed November&nbsp;8, 2013. (Portions omitted pursuant to request for confidential treatment.)</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312514091609/d668682dex1051.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.60#</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312514091609/d668682dex1051.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #1 to the Agreement between BioCryst Pharmaceuticals, Inc. and the National Institute of Allergy and Infectious Diseases, dated December 26, 2013.&nbsp;&nbsp;Incorporated by reference to Exhibit 10.51 to the Company&#8217;s Form 10-K filed on March 10, 2014.&nbsp;&nbsp;(Portions omitted pursuant to request for confidential treatment.)</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312514091609/d668682dex1052.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.61#</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000119312514091609/d668682dex1052.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #2 to the Agreement between BioCryst Pharmaceuticals, Inc. and the National Institute of Allergy and Infectious Diseases, dated January 24, 2014.&nbsp;&nbsp;Incorporated by reference to Exhibit 10.52 to the Company&#8217;s Form 10-K filed on March 10, 2014.&nbsp;&nbsp;(Portions omitted pursuant to request for confidential treatment.)</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184314003839/exh_105.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.62#</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184314003839/exh_105.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #3 to the Agreement between BioCryst Pharmaceuticals, Inc. and the National Institute of Allergy and Infectious Diseases, dated June 17, 2014. Incorporated by reference to Exhibit 10.5 to the Company&#8217;s Form 10-Q filed on August 8, 2014.&nbsp;&nbsp;&nbsp;&nbsp;(Portions omitted pursuant to request for confidential treatment.)</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184314003839/exh_106.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.63#</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184314003839/exh_106.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #4 to the Agreement between BioCryst Pharmaceuticals, Inc. and the National Institute of Allergy and Infectious Diseases, dated June 17, 2014. Incorporated by reference to Exhibit 10.6 to the Company&#8217;s Form 10-Q filed on August 8, 2014.&nbsp;&nbsp;(Portions omitted pursuant to request for confidential treatment.)</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td></td></tr></table>

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<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 10%">&nbsp;</td>
    <td style="width: 2%">&nbsp;</td>
    <td style="width: 88%">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184314005367/exh_101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.64#</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184314005367/exh_101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #5 to the Agreement between BioCryst Pharmaceuticals, Inc. and the National Institute of Allergy and Infectious Diseases, dated August 11, 2014. Incorporated by reference to Exhibit 10.1 to the Company&#8217;s Form 10-Q filed on November 7, 2014.&nbsp;&nbsp;(Portions omitted pursuant to request for confidential treatment.)</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184314005367/exh_102.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.65#</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184314005367/exh_102.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #6 to the Agreement between BioCryst Pharmaceuticals, Inc. and the National Institute of Allergy and Infectious Diseases, dated August 27, 2014.&nbsp;&nbsp;Incorporated by reference to Exhibit 10.2 to the Company&#8217;s Form 10-Q filed on November 7, 2014.&nbsp;&nbsp;(Portions omitted pursuant to request for confidential treatment.)</font></a></td></tr>
</table>
<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 10%"><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184314005367/exh_103.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.66#</font></a></td>
    <td style="width: 2%">&nbsp;</td>
    <td style="width: 88%"><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184314005367/exh_103.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #8 to the Agreement between BioCryst Pharmaceuticals, Inc. and the National Institute of Allergy and Infectious Diseases, dated September 17, 2014.&nbsp;&nbsp;Incorporated by reference to Exhibit 10.3 to the Company&#8217;s Form 10-Q filed on November 7, 2014.&nbsp;&nbsp;(Portions omitted pursuant to request for confidential treatment.)</font></a></td></tr>
</table>
<p style="font-size: 10pt; margin: 0pt 0 0pt 6pt"></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 10%"><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184314005367/exh_104.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.67#</font></a></td>
    <td style="width: 2%">&nbsp;</td>
    <td style="width: 88%"><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184314005367/exh_104.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #9 to the Agreement between BioCryst Pharmaceuticals, Inc. and the National Institute of Allergy and Infectious Diseases, dated October 29, 2014.&nbsp;&nbsp;Incorporated by reference to Exhibit 10.4 to the Company&#8217;s Form 10-Q filed on November 7, 2014.&nbsp;&nbsp;(Portions omitted pursuant to request for confidential treatment.)</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184315004473/exh_102.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.68#</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184315004473/exh_102.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #10 to the Agreement between BioCryst Pharmaceuticals, Inc. and the National Institute of Allergy and Infectious Diseases, dated February 13, 2015.&nbsp;&nbsp;Incorporated by reference to Exhibit 10.2 to the Company&#8217;s Form 10-Q filed on August 7, 2015.&nbsp; (Portions omitted pursuant to request for confidential treatment.)</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184315004473/exh_103.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.69#</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184315004473/exh_103.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #11 to the Agreement between BioCryst Pharmaceuticals, Inc. and the National Institute of Allergy and Infectious Diseases, dated March 19, 2015.&nbsp;&nbsp;Incorporated by reference to Exhibit 10.3 to the Company&#8217;s Form 10-Q filed on August 7, 2015.&nbsp; (Portions omitted pursuant to request for confidential treatment.)</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184315004473/exh_104.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.70#</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184315004473/exh_104.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #12 to the Agreement between BioCryst Pharmaceuticals, Inc. and the National Institute of Allergy and Infectious Diseases, dated June 12, 2015.&nbsp;&nbsp;Incorporated by reference to Exhibit 10.4 to the Company&#8217;s Form 10-Q filed on August 7, 2015.&nbsp; (Portions omitted pursuant to request for confidential treatment.)</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184315004473/exh_105.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.71#</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184315004473/exh_105.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #13 to the Agreement between BioCryst Pharmaceuticals, Inc. and the National Institute of Allergy and Infectious Diseases, dated June 17, 2015.&nbsp;&nbsp;Incorporated by reference to Exhibit 10.5 to the Company&#8217;s Form 10-Q filed on August 7, 2015.&nbsp; (Portions omitted pursuant to request for confidential treatment.)</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184315006102/exh_103.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.72#</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184315006102/exh_103.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #14 to the Agreement between BioCryst Pharmaceuticals, Inc. and the National Institute of Allergy and Infectious Diseases, dated September 16, 2015.&nbsp;&nbsp;Incorporated by reference to Exhibit 10.3 to the Company&#8217;s Form 10-Q filed on November 6, 2015.&nbsp; (Portions omitted pursuant to request for confidential treatment.)</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184316008207/exh_1070.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.73</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184316008207/exh_1070.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #15 to the Agreement between BioCryst Pharmaceuticals, Inc. and the National Institute of Allergy and Infectious Diseases, dated November 16, 2015. Incorporated by reference to Exhibit 10.70 to the Company&#8217;s Form 10-K filed on February 26, 2016.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184316008207/exh_1071.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.74#</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184316008207/exh_1071.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #16 to the Agreement between BioCryst Pharmaceuticals, Inc. and the National Institute of Allergy and Infectious Diseases, dated December 18, 2015. Incorporated by reference to Exhibit 10.71 to the Company&#8217;s Form 10-K filed on February 26, 2016. (Portions omitted pursuant to request for confidential treatment.)</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184317001159/exh_1074.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.75</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184317001159/exh_1074.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment
    #17 to the Agreement between BioCryst Pharmaceuticals, Inc. and the National Institute of Allergy and Infectious Diseases,
    dated April 18, 2016. Incorporated by reference to Exhibit 10.74 to the Company&rsquo;s Form 10-K filed on February 27, 2017.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184316011576/exh_103.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.76#</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184316011576/exh_103.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #18 to the Agreement between BioCryst Pharmaceuticals, Inc. and the National Institute of Allergy and Infectious Diseases, dated June 30, 2016. Incorporated by reference to Exhibit 10.3 to the Company&#8217;s Form 10-Q filed on August 8, 2016. (Portions omitted pursuant to request for confidential treatment.)</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184316013033/exh_101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.77#</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184316013033/exh_101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #19 to the Agreement between BioCryst Pharmaceuticals, Inc. and the National Institute of Allergy and Infectious Diseases, dated August 10, 2016. Incorporated by reference to Exhibit 10.1 to the Company&#8217;s Form 10-Q filed on November 8, 2016. (Portions omitted pursuant to request for confidential treatment.)</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184317001159/exh_1077.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.78#</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184317001159/exh_1077.htm" style="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Amendment
#20 to the Agreement between BioCryst Pharmaceuticals, Inc. and the National Institute of Allergy and Infectious Diseases, dated
January 9, 2017. Incorporated by reference to Exhibit 10.77 to the Company&rsquo;s Form 10-K filed on February 27, 2017.&nbsp;(Portions
omitted pursuant to request for confidential treatment.)</FONT></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184315002688/exh_102.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.79#</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184315002688/exh_102.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Agreement between BioCryst Pharmaceuticals, Inc. and the Biomedical Advanced Research and Development Authority within the U.S. Department of Health and Human Services' Office of the Assistant Secretary for Preparedness and Response, dated March 27, 2015. &nbsp;Incorporated by reference to Exhibit 10.2 to the Company&#8217;s Form 10-Q filed on May 8, 2015.&nbsp; (Portions omitted pursuant to request for confidential treatment.)</font></a></td></tr>
</table>


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<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

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<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 10%"><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184315004473/exh_101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.80#</font></a></td>
    <td style="width: 2%">&nbsp;</td>
    <td style="width: 88%"><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184315004473/exh_101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #1 to the Agreement between BioCryst Pharmaceuticals, Inc. and the Biomedical Advanced Research and Development Authority within the U.S. Department of Health and Human Services&#8217; Office of the Assistant Secretary for Preparedness and Response, dated June 2, 2015.&nbsp;&nbsp;Incorporated by reference to Exhibit 10.1 to the Company&#8217;s Form 10-Q filed on August 7, 2015.&nbsp; (Portions omitted pursuant to request for confidential treatment.)</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184315006102/exh_101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.81#</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184315006102/exh_101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #2 to the Agreement between BioCryst Pharmaceuticals, Inc. and the Biomedical Advanced Research and Development Authority within the U.S. Department of Health and Human Services&#8217; Office of the Assistant Secretary for Preparedness and Response, dated July 8, 2015. &nbsp;Incorporated by reference to Exhibit 10.1 to the Company&#8217;s Form 10-Q filed on November 6, 2015.&nbsp; (Portions omitted pursuant to request for confidential treatment.)</font></a></td></tr>
</table>


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<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 10%"><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184315006102/exh_102.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.82#</font></a></td>
    <td style="width: 2%">&nbsp;</td>
    <td style="width: 88%"><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184315006102/exh_102.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #3 to the Agreement between BioCryst Pharmaceuticals, Inc. and the Biomedical Advanced Research and Development Authority within the U.S. Department of Health and Human Services&#8217; Office of the Assistant Secretary for Preparedness and Response, dated August 25, 2015. &nbsp;Incorporated by reference to Exhibit 10.2 to the Company&#8217;s Form 10-Q filed on November 6, 2015.&nbsp; (Portions omitted pursuant to request for confidential treatment.)</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184316009811/exh_101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.83#</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184316009811/exh_101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #4 to the Agreement between BioCryst Pharmaceuticals, Inc. and the Biomedical Advanced Research and Development Authority within the U.S. Department of Health and Human Services&#8217; Office of the Assistant Secretary for Preparedness and Response, dated February 25, 2016. Incorporated by reference to Exhibit 10.1 to the Company&#8217;s Form 10-Q filed on May 9, 2016. (Portions omitted pursuant to request for confidential treatment.)</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184316011576/exh_101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.84#</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184316011576/exh_101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #5 to the Agreement between BioCryst Pharmaceuticals, Inc. and the Biomedical Advanced Research and Development Authority within the U.S. Department of Health and Human Services&#8217; Office of the Assistant Secretary for Preparedness and Response, dated April 11, 2016. Incorporated by reference to Exhibit 10.1 to the Company&#8217;s Form 10-Q filed on August 8, 2016. (Portions omitted pursuant to request for confidential treatment.)</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184316011576/exh_102.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.85#</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184316011576/exh_102.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #6 to the Agreement between BioCryst Pharmaceuticals, Inc. and the Biomedical Advanced Research and Development Authority within the U.S. Department of Health and Human Services&#8217; Office of the Assistant Secretary for Preparedness and Response, dated May 20, 2016. Incorporated by reference to Exhibit 10.2 to the Company&#8217;s Form 10-Q filed on August 8, 2016. (Portions omitted pursuant to request for confidential treatment.)</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184316013033/exh_102.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.86#</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184316013033/exh_102.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #7 to the Agreement between BioCryst Pharmaceuticals, Inc. and the Biomedical Advanced Research and Development Authority within the U.S. Department of Health and Human Services&#8217; Office of the Assistant Secretary for Preparedness and Response, dated September 26, 2016. Incorporated by reference to Exhibit 10.2 to the Company&#8217;s Form 10-Q filed on November 8, 2016. (Portions omitted pursuant to request for confidential treatment.)</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184317006746/exh_101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.87</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184317006746/exh_101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Amendment #8 to the Agreement between BioCryst Pharmaceuticals, Inc. and the Biomedical Advanced Research and Development Authority within the U.S. Department of Health and Human Services&#8217; Office of the Assistant Secretary for Preparedness and Response, dated September 20, 2017. Incorporated by reference to Exhibit 10.1 to the Company&#8217;s Form 10-Q filed on November 8, 2017. </font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><A HREF="exh_1088.htm"><font style="font-size: 10pt">(10.88)&nbsp;&dagger;</font></A></td>
    <td>&nbsp;</td>
    <td><A HREF="exh_1088.htm"><font style="font-size: 10pt">Amendment #9 to the Agreement between BioCryst Pharmaceuticals, Inc. and the Biomedical Advanced Research and Development Authority within the U.S. Department of Health and Human Services&#8217; Office of the Assistant Secretary for Preparedness and Response, dated December 1, 2017.</font></A></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184315004473/exh_108.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.89#</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184315004473/exh_108.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">License Agreement by and between BioCryst Pharmaceuticals, Inc. and Seqirus UK Limited, dated as of June 16, 2015. &nbsp;Incorporated by reference to Exhibit 10.8 to the Company&#8217;s Form 10-Q filed on May 8, 2015.&nbsp; (Portions omitted pursuant to request for confidential treatment.)</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184316013033/exh_103.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.90#</font></a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184316013033/exh_103.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Credit and Security Agreement, dated as of September 23, 2016, by and among Midcap Financial Trust, as administrative agent, the Lenders listed on the Credit Facility Schedule attached thereto and otherwise party thereto from time to time, BioCryst Pharmaceuticals, Inc., and MDCP, LLC. Incorporated by reference to Exhibit 10.3 to the Company&#8217;s Form 10-Q filed on November 8, 2016. (Portions omitted pursuant to request for confidential treatment.)</font></a></td></tr>
</table>


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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 10%"><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184317001617/exh_101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">10.91</font></a></td>
    <td style="width: 2%">&nbsp;</td>
    <td style="width: 88%"><a href="http://www.sec.gov/Archives/edgar/data/882796/000117184317001617/exh_101.htm" style="-sec-extract: exhibit"><font style="font-size: 10pt">Registration Rights Agreement, dated March 15, 2017, by and between BioCryst Pharmaceuticals, Inc. 667, L.P., and Baker Brothers Life Sciences, L.P. Incorporated by reference to Exhibit 10.1 to the Company&#8217;s Form 8-K filed March 17, 2017.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="exh_21.htm"><font style="font-size: 10pt">(21)</font></a></td>
    <td>&nbsp;</td>
    <td><a href="exh_21.htm"><font style="font-size: 10pt">Subsidiaries of the Registrant.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="exh_23.htm"><font style="font-size: 10pt">(23)</font></a></td>
    <td>&nbsp;</td>
    <td><a href="exh_23.htm"><font style="font-size: 10pt">Consent of Ernst &amp; Young, LLP, Independent Registered Public Accounting Firm.</font></a></td></tr>
</table>


<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

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<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 10%"><a href="exh_311.htm"><font style="font-size: 10pt">(31.1)</font></a></td>
    <td style="width: 2%">&nbsp;</td>
    <td style="width: 88%"><a href="exh_311.htm"><font style="font-size: 10pt">Certification of the Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="exh_312.htm"><font style="font-size: 10pt">(31.2)</font></a></td>
    <td>&nbsp;</td>
    <td><a href="exh_312.htm"><font style="font-size: 10pt">Certification of the Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="exh_321.htm"><font style="font-size: 10pt">(32.1)</font></a></td>
    <td>&nbsp;</td>
    <td><a href="exh_321.htm"><font style="font-size: 10pt">Certification pursuant to 18&nbsp;U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><a href="exh_322.htm"><font style="font-size: 10pt">(32.2)</font></a></td>
    <td>&nbsp;</td>
    <td><a href="exh_322.htm"><font style="font-size: 10pt">Certification pursuant to 18&nbsp;U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.</font></a></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><font style="font-size: 10pt">(101)</font></td>
    <td>&nbsp;</td>
    <td><font style="font-size: 10pt">Financial statements from the Annual Report on Form 10-K of BioCryst Pharmaceuticals, Inc. for the year ended December 31, 2017, formatted in XBRL: (i) Consolidated Balance Sheets, (ii) Consolidated Statements of Comprehensive Loss, (iii) Consolidated Statements of Cash Flows, (iv) Consolidated Statements of Stockholders&#8217; Equity and (v) Notes to Consolidated Financial Statements.</font></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<TR STYLE="vertical-align: top">
    <TD>&dagger; </TD>
    <TD>&nbsp;</TD>
    <TD>Confidential treatment requested.</TD></TR>
<tr style="vertical-align: top">
    <td><font style="font-size: 10pt">#</font></td>
    <td>&nbsp;</td>
    <td><font style="font-size: 10pt">Confidential treatment granted.</font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font-size: 10pt">&amp;</font></td>
    <td>&nbsp;</td>
    <td><font style="font-size: 10pt">Management contracts.</font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font-size: 10pt">(&nbsp;)</font></td>
    <td>&nbsp;</td>
    <td><font style="font-size: 10pt">Filed herewith.</font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font-size: 10pt">*</font></td>
    <td>&nbsp;</td>
    <td><font style="font-size: 10pt">The schedules to the Agreement and Plan of Merger have been omitted from this filing pursuant to Item 601(b)(2) of Regulation S-K. Registrant will furnish copies of such schedules to the Securities and Exchange Commission upon request by the Commission.</font></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
</table>
<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 10%"><font style="font-size: 10pt"><b><a name="a_029"></a>ITEM 16.</b></font></td>
    <td style="width: 1%; text-align: justify">&nbsp;</td>
    <td style="width: 89%; text-align: justify"><font style="font-size: 10pt"><b><i>FORM 10-K SUMMARY.</i></b></font></td></tr>
</table>
<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">None.</p>

<p style="font-size: 10pt; margin: 0pt 0"><b>&nbsp;</b></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>



<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0"></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>
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<p style="font-size: 10pt; text-align: center; margin: 0pt 0"><b><a name="a_028"></a>SIGNATURES</b></p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Pursuant to the requirements of Section&nbsp;13 or 15(d) of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized on March 12, 2018.</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2"><font style="font-size: 10pt">BIOCRYST PHARMACEUTICALS, INC.</font></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="width: 32%">&nbsp;</td>
    <td style="width: 34%">&nbsp;</td>
    <td style="width: 5%"><font style="font-size: 10pt">By:&nbsp;</font></td>
    <td style="width: 29%; border-bottom: black 1pt solid"><font style="font-size: 10pt">/s/&nbsp;Jon P. Stonehouse</font></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><font style="font-size: 10pt">Jon P. Stonehouse</font></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><font style="font-size: 10pt"><i>Chief Executive Officer</i></font></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
</table>
<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act of 1934,
this report has been signed below by the following persons on behalf of the registrant and in the capacities indicated on March
12, 2018:</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 12pt">&nbsp;</p>

<p style="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 12pt">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt">
<tr style="vertical-align: top">
    <td style="width: 32%">&nbsp;</td>
    <td style="width: 36%">&nbsp;</td>
    <td style="width: 32%; text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="text-align: center"><font style="font-size: 10pt"><b><u>Signature</u></b></font></td>
    <td>&nbsp;</td>
    <td style="text-align: center"><font style="font-size: 10pt"><b><u>Title(s)</u></b></font></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="border-bottom: black 1pt solid"><font style="font-size: 10pt">/s/&nbsp;Jon P. Stonehouse</font></td>
    <td>&nbsp;</td>
    <td style="text-align: center"><font style="font-size: 10pt">President, Chief Executive Officer and Director</font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font-size: 10pt">(Jon P. Stonehouse)</font></td>
    <td>&nbsp;</td>
    <td style="text-align: center"><font style="font-size: 10pt">(Principal Executive Officer)</font></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="border-bottom: black 1pt solid">
        <p style="font-size: 10pt; margin: 0pt 1.6pt 0pt 0">&nbsp;</p>
        <p style="font-size: 10pt; margin: 0pt 1.6pt 0pt 0">/s/&nbsp;Thomas R. Staab II</p></td>
    <td>&nbsp;</td>
    <td style="text-align: center"><font style="font-size: 10pt">Senior Vice President, Chief Financial Officer and Treasurer</font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font-size: 10pt">(Thomas R. Staab II)</font></td>
    <td>&nbsp;</td>
    <td style="text-align: center"><font style="font-size: 10pt">(Principal Financial Officer and Principal Accounting Officer)</font></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="border-bottom: black 1pt solid"><font style="font-size: 10pt">/s/ George B. Abercrombie</font></td>
    <td>&nbsp;</td>
    <td style="text-align: center"><font style="font-size: 10pt">Director</font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font-size: 10pt">(George B. Abercrombie)</font></td>
    <td>&nbsp;</td>
    <td style="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="border-bottom: black 1pt solid"><font style="font-size: 10pt">/s/&nbsp;Fred E. Cohen</font></td>
    <td>&nbsp;</td>
    <td style="text-align: center"><font style="font-size: 10pt">Director</font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font-size: 10pt">(Fred E. Cohen, M.D., D. Phil)</font></td>
    <td>&nbsp;</td>
    <td style="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="border-bottom: black 1pt solid"><font style="font-size: 10pt">/s/ Stanley C. Erck</font></td>
    <td>&nbsp;</td>
    <td style="text-align: center"><font style="font-size: 10pt">Director</font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font-size: 10pt">(Stanley C. Erck)</font></td>
    <td>&nbsp;</td>
    <td style="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="border-bottom: black 1pt solid"><font style="font-size: 10pt">/s/ Nancy Hutson</font></td>
    <td>&nbsp;</td>
    <td style="text-align: center"><font style="font-size: 10pt">Director</font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font-size: 10pt">(Nancy Hutson, Ph.D.)</font></td>
    <td>&nbsp;</td>
    <td style="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="border-bottom: black 1pt solid"><font style="font-size: 10pt">/s/ Robert A. Ingram</font></td>
    <td>&nbsp;</td>
    <td style="text-align: center"><font style="font-size: 10pt">Director</font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font-size: 10pt">(Robert A. Ingram)</font></td>
    <td>&nbsp;</td>
    <td style="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="border-bottom: black 1pt solid"><font style="font-size: 10pt">/s/&nbsp;Kenneth B. Lee, Jr.</font></td>
    <td>&nbsp;</td>
    <td style="text-align: center"><font style="font-size: 10pt">Director</font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font-size: 10pt">(Kenneth B. Lee, Jr.)</font></td>
    <td>&nbsp;</td>
    <td style="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: center">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="border-bottom: black 1pt solid"><font style="font-size: 10pt">/s/&nbsp;Sanj K. Patel</font></td>
    <td>&nbsp;</td>
    <td style="text-align: center"><font style="font-size: 10pt">Director</font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font-size: 10pt">(Sanj K. Patel)</font></td>
    <td>&nbsp;</td>
    <td style="text-align: center">&nbsp;</td></tr>
</table>
<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; margin: 0pt 0">&nbsp;</p>

<p style="font-size: 10pt; text-align: center; margin: 0pt 0">93</p>



<p style="font-size: 10pt; text-align: center; margin: 0pt 0"></p>

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</body></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.88
<SEQUENCE>2
<FILENAME>exh_1088.htm
<DESCRIPTION>EXHIBIT 10.88
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.88</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt">Pursuant to
17 CFR 20.24b-2, confidential information has been omitted in places marked &quot;***&quot; and has been filed separately with
the Securities and Exchange Commission pursuant to a Confidential Treatment Request with the Commission.</FONT></P>




<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>
<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><img src="exh1088_01.jpg"></P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid">&nbsp;</DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt">Pursuant to
17 CFR 20.24b-2, confidential information has been omitted in places marked &quot;***&quot; and has been filed separately with
the Securities and Exchange Commission pursuant to a Confidential Treatment Request with the Commission.</FONT></P>




<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>
<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>
<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"><FONT STYLE="font-size: 12pt">ATTACHMENT
1</FONT></P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">Statement of Work</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">BCX4430 NDA Enabling CMC and Non-Clinical Toxicology Studies</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 11pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"><FONT STYLE="font-size: 12pt">PREAMBLE</FONT></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0 0pt 11pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 1.75pt; margin-bottom: 0pt; text-align: left">Independently and not as an agent of the Government, the Contractor
shall furnish all the necessary services, qualified personnel, material, equipment, and facilities, not otherwise provided by the
Government as needed to perform the Statement of Work submitted in response to the BARDA Broad Agency Announcement (BAA) CBRN-BAA-10-100-SOL-00013.</P>

<P STYLE="font-size: 10pt; margin: 0pt 1.75pt 0pt 10.95pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 1.75pt; margin-bottom: 0pt; text-align: left">The Government reserves the right to modify the milestones, progress,
schedule, budget, or deliverables to add or delete deliverables, process, or schedules if the need arises. Because of the nature
of this research and development (R&amp;D) contract and the complexities inherent in this and prior programs, at designated milestones
the Government will evaluate whether work should be redirected, removed, or whether schedule or budget adjustments should be made.</P>

<P STYLE="font-size: 10pt; margin: 0pt 1.75pt 0pt 10.95pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"><FONT STYLE="font-size: 12pt">OVERALL
OBJECTIVES AND SCOPE</FONT></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0 0pt 11pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 8.25pt; margin-bottom: 0pt; text-align: left">The overall objective of this contract is to advance the development
of BCX4430, a novel small molecule nucleoside with broad spectrum antiviral activity being developed for diseases caused by RNA
pathogens. BCX4430, an inhibitor of viral RNA- dependent RNA polymerase (RdRp), is the lead compound in our broad-spectrum antiviral
program to meet the need for a parenteral, direct-acting antiviral medical countermeasure (MCM) having efficacy across multiple
viruses. The scope of work for this contract includes preclinical and manufacturing development activities that fall into the following
areas: manufacturing of clinical trial material, manufacturing process improvements and development, non-clinical toxicology studies;
and all associated regulatory, quality assurance, management, and administrative activities. The R&amp;D effort will contribute
toward an NDA filing for BCX4430. Overall, this Statement of Work (SOW) focuses on:</P>

<P STYLE="font-size: 10pt; margin: 0pt 8.25pt 0pt 10.95pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3%"></TD><TD STYLE="width: 2%">&bull;</TD><TD STYLE="padding-right: 16.25pt; width: 95%">Drug substance (DS) and drug product (DP) manufacturing process development activities that
will be conducted at US based facilities, which will result in the ability to consistently produce high quality, GMP compliant
material and deliver drug supply that could be available for deployment as a medical countermeasure and support future clinical
and non-clinical studies</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 2%; font-size: 10pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="width: 95%; font-size: 10pt"><FONT STYLE="font-size: 10pt">Nonclinical development activities to advance the intramuscular (IM) and intravenous (IV) formulation through NDA-enabling toxicology including * * * &nbsp;and * * * studies in the * * * and * * * </FONT></TD></TR>
</TABLE>


<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>


<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 8pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --> of 20</TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>HHS0100201500007C</TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>November 3, 2017 </TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt">Pursuant to
17 CFR 20.24b-2, confidential information has been omitted in places marked &quot;***&quot; and has been filed separately with
the Securities and Exchange Commission pursuant to a Confidential Treatment Request with the Commission.</FONT></P>




<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>
<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>
<P STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"><FONT STYLE="font-size: 12pt">BASE:
MANUFACTURE OF CLINICAL TRIAL MATERIAL</FONT></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0 0pt 21.55pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">Duration: 60 months</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 21.55pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Drug Substance and Drug Product GMP manufacturing by US suppliers
to support non-clinical and clinical activities. Drug Substance will be produced following an * * * starting with * * * , which
will be used as the starting material to produce GMP BCX4430. Drug Substance will also be produced using an * * * GMP BCX4430.
Previous campaigns of GMP BCX4430 have produced between * * * to * * * per batch. The scope of work under this option will target
up to a 5-fold increase in the GMP BCX4430 batch size.</P>




<P STYLE="font-size: 10pt; text-indent: 0.7pt; margin: 0pt 20.05pt 0pt 20.55pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">The primary objectives will be to:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 20.35pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 20.35pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 2%; font-size: 10pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="width: 95%; font-size: 10pt"><FONT STYLE="font-size: 10pt">Produce a total off * * * batches of GMP BCX4430 drug substance following the * * * .</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 2%; font-size: 10pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="width: 95%; font-size: 10pt"><FONT STYLE="font-size: 10pt">Produce * * * of * * * of non-GMP BCX4430 and * * * of GMP BCX4430 using the * * * </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 2%; font-size: 10pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="width: 95%; font-size: 10pt"><FONT STYLE="font-size: 10pt">Conduct further optimization of the * * * </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 2%; font-size: 10pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="width: 95%; font-size: 10pt"><FONT STYLE="font-size: 10pt">Conduct drug product process improvements that will be focused on validation of analytical methods, stress testing, stability studies, and process design space optimization</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 2%; font-size: 10pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="width: 95%; font-size: 10pt"><FONT STYLE="font-size: 10pt">Conduct Drug Product * * * formulation development studies to develop a * * * process that can be scaled to a manufacturing facility</FONT></TD></TR>
</TABLE>



<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%">1.1.</TD><TD STYLE="width: 94%">Procurement of Starting Materials</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall procure enough starting materials to produce
up to a total of * * * of * * * of the current manufacturing process of BCX4430. The key starting materials to be procured are
* * * and * * * . In addition, the contractor shall procure sufficient starting materials to produce *&nbsp;*&nbsp;* of non-GMP
BCX4430 and * * * of GMP BCX4430 using the *&nbsp;*&nbsp;* .</P>




<P STYLE="font-size: 10pt; text-indent: -0.05pt; margin: 0pt 23.55pt 0pt 20.6pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: -0.05pt; margin: 0pt 23.55pt 0pt 20.6pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>1.1.1.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Procurement of Starting Materials to produce </B>*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall procure *&nbsp;*&nbsp;* of *&nbsp;*&nbsp;*
and *&nbsp;*&nbsp;* of *&nbsp;*&nbsp;* for the manufacture of *&nbsp;*&nbsp;* to support an initial campaign (WBS 1.4.1 and 1.4.2)
of manufacturing *&nbsp;*&nbsp;* batches of BCX4430 followed by *&nbsp;*&nbsp;* of BCX4430 (Clinical Trial Material Batch *&nbsp;*&nbsp;*
WBS1.7.1) using the *&nbsp;*&nbsp;* .</P>



<P STYLE="font-size: 10pt; text-indent: -0.05pt; margin: 0pt 23.55pt 0pt 20.6pt"></P>

<P STYLE="font-size: 10pt; text-indent: -0.05pt; margin: 0pt 23.55pt 0pt 20.6pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.25pt; margin: 0pt 0 0pt 19.6pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.25pt; margin: 0pt 0 0pt 19.6pt"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font-size: 10pt; text-indent: 0.25pt; margin: 0pt 0 0pt 19.6pt"></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt">Pursuant to
17 CFR 20.24b-2, confidential information has been omitted in places marked &quot;***&quot; and has been filed separately with
the Securities and Exchange Commission pursuant to a Confidential Treatment Request with the Commission.</FONT></P>




<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>
<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>1.1.2.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Procurement of Starting Materials to produce </B>*&nbsp;*&nbsp;* <B>BCX4430 Drug Substance</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall procure sufficient quantities of selected
starting materials to support an initial campaign of manufacturing *&nbsp;*&nbsp;* of BCX4430 using the *&nbsp;*&nbsp;* .</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 30.85pt 0pt 20.6pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>1.2.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Further Process Improvements</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall conduct further process improvements that
may be identified focused on improving the existing plant-scale processes following generally the same *&nbsp;*&nbsp;* .</P>




<P STYLE="font-size: 10pt; margin: 0pt 8.25pt 0pt 19.6pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%">1.2.1</TD><TD STYLE="width: 94%">Conduct Process Improvements</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left">The contractor shall conduct the process improvements with existing plant-scale
processes.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 19.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%">1.2.2</TD><TD STYLE="width: 94%">Determination that Process is Sufficient to move to Commercial Scale up</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall evaluate the processes developed and provide
sufficient information through a deliverable that will enable BARDA to determine that the *&nbsp;*&nbsp;* process is sufficient
to move to commercial scale-up activities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 36.5pt 0pt 19.6pt; text-align: justify; text-indent: -0.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>1.3.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Manufacture of </B>*&nbsp;*&nbsp;* <B>at </B>*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">*&nbsp;*&nbsp;* will be utilized as the starting material for
the manufacture of BCX4430 in accordance with GMP guidance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 40.85pt 0pt 19.35pt; text-indent: 0.25pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>1.3.1.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Manufacture of the </B>*&nbsp;*&nbsp;* <B>&nbsp;batch of </B>*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall target producing between a *&nbsp;*&nbsp;*
batch using *&nbsp;*&nbsp;* .</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 27.2pt 0pt 19.6pt; text-indent: -0.75pt">&nbsp;</P>



<P STYLE="font-size: 10pt; text-indent: -0.75pt; margin: 0pt 27.2pt 0pt 19.6pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: -0.75pt; margin: 0pt 27.2pt 0pt 19.6pt"></P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 8pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --> of 20</TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>HHS0100201500007C</TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>November 3, 2017 </TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font-size: 10pt; text-indent: -0.75pt; margin: 0pt 27.2pt 0pt 19.6pt"></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt">Pursuant to
17 CFR 20.24b-2, confidential information has been omitted in places marked &quot;***&quot; and has been filed separately with
the Securities and Exchange Commission pursuant to a Confidential Treatment Request with the Commission.</FONT></P>




<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>
<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>1.3.2.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Manufacture of </B>*&nbsp;*&nbsp;* <B>Batches </B>*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Based on the performance of the *&nbsp;*&nbsp;* batch of *&nbsp;*&nbsp;*
, additional lab-scale studies and a qualification run will be conducted to improve the *&nbsp;*&nbsp;* process. This process will
then be incrementally scaled-up in the plant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 29.3pt 0pt 21.3pt; text-indent: 0.2pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>1.3.2.1.</B></FONT></TD>
    <TD STYLE="width: 88%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Manufacture of the </B>*&nbsp;*&nbsp;* <B>&nbsp;batch of </B>*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall produce approximately *&nbsp;*&nbsp;* per
batch using the *&nbsp;*&nbsp;* .</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 23.55pt 0pt 20.8pt; text-indent: -0.25pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>1.3.2.2.</B></FONT></TD>
    <TD STYLE="width: 88%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Manufacture of the </B>*&nbsp;*&nbsp;* <B>&nbsp;batch of </B>*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall target produce approximately *&nbsp;*&nbsp;*
per batch using the *&nbsp;*&nbsp;* .</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 40.85pt 0pt 21.15pt; text-indent: -0.85pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>1.4.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Manufacturing Campaign of GMP BCX4430</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall produce *&nbsp;*&nbsp;* batches of BCX4430
at *&nbsp;*&nbsp;* in compliance with GMP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 20.3pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>1.4.1.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Manufacturing of the </B>*&nbsp;*&nbsp;* <B>&nbsp;batch of GMP BCX4430</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall produce and release approximately *&nbsp;*&nbsp;*
of GMP BCX4430 utilizing the *&nbsp;*&nbsp;* process for making BCX4430 starting with the *&nbsp;*&nbsp;* batch (*&nbsp;*&nbsp;*
) of *&nbsp;*&nbsp;* .</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 39.15pt 0pt 20.35pt; text-align: justify; text-indent: -0.25pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>1.4.2.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Manufacturing of the </B>*&nbsp;*&nbsp;* <B>&nbsp;batch of GMP BCX4430</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall produce and release approximately *&nbsp;*&nbsp;*
of GMP BCX4430 utilizing the *&nbsp;*&nbsp;* process for making BCX4430 starting with the recovered portion of the *&nbsp;*&nbsp;*
batch (*&nbsp;*&nbsp;* ) of *&nbsp;*&nbsp;* . NOTE: This quantity is dependent on the amount and quality of *&nbsp;*&nbsp;* isolated
during the recovery of *&nbsp;*&nbsp;* .</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 22.7pt 0pt 20.3pt; text-indent: -0.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>1.4.3.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Drug Substance Stability Studies</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall place samples from DS batch and *&nbsp;*&nbsp;*
GMP DS batch of BCX4430 on a *&nbsp;*&nbsp;* stability program at *&nbsp;*&nbsp;* and *&nbsp;*&nbsp;* and a *&nbsp;*&nbsp;* accelerated
stability study at *&nbsp;*&nbsp;* .</P>



<P STYLE="font-size: 10pt; text-indent: -0.75pt; margin: 0pt 27.2pt 0pt 19.6pt"></P>

<P STYLE="font-size: 10pt; text-indent: -0.75pt; margin: 0pt 27.2pt 0pt 19.6pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: -0.05pt; margin: 0pt 59.4pt 0pt 20.2pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: -0.05pt; margin: 0pt 59.4pt 0pt 20.2pt"></P>

<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 8pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --> of 20</TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>HHS0100201500007C</TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>November 3, 2017 </TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt">Pursuant to
17 CFR 20.24b-2, confidential information has been omitted in places marked &quot;***&quot; and has been filed separately with
the Securities and Exchange Commission pursuant to a Confidential Treatment Request with the Commission.</FONT></P>




<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>
<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left">Table 1.&#9;&nbsp;&nbsp;&nbsp;&nbsp;BCX4430 Drug Substance Stability Study Sampling Points</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 24.65pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 24.65pt"></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: middle; background-color: #4F81BD">
    <TD STYLE="color: white; font-weight: bold; text-align: center">Test</TD>
    <TD COLSPAN="10" STYLE="color: white; font-weight: bold; text-align: center">Months</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; color: white; font-weight: bold; text-align: center; background-color: #4F81BD; width: 6%">ID</TD>
    <TD STYLE="font-weight: bold; border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: #DBE5F1; width: 11%">0</TD>
    <TD STYLE="font-weight: bold; border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: #DBE5F1; width: 11%">1</TD>
    <TD STYLE="font-weight: bold; border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: #DBE5F1; width: 9%">3</TD>
    <TD STYLE="font-weight: bold; border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: #DBE5F1; width: 9%">6</TD>
    <TD STYLE="font-weight: bold; border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: #DBE5F1; width: 9%">9</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; font-weight: bold; text-align: center; background-color: #DBE5F1; width: 9%">12</TD>
    <TD STYLE="font-weight: bold; border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: #DBE5F1; width: 9%">18</TD>
    <TD STYLE="font-weight: bold; border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: silver; width: 9%">24</TD>
    <TD STYLE="font-weight: bold; border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: silver; width: 9%">48</TD>
    <TD STYLE="font-weight: bold; border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: silver; width: 9%">60</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; border-left: #95B3D7 1pt solid; text-align: center">A</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: silver">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: silver">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: silver">X</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; border-left: #95B3D7 1pt solid; text-align: center; background-color: #DBE5F1">B</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: #DBE5F1">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: #DBE5F1">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: #DBE5F1">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: #DBE5F1">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: #DBE5F1">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: #DBE5F1">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: #DBE5F1">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: silver">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: silver">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: silver">X</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; border-left: #95B3D7 1pt solid; text-align: center">C</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: silver">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: silver">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: silver">X</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; border-left: #95B3D7 1pt solid; text-align: center; background-color: #DBE5F1">D</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: #DBE5F1">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: #DBE5F1">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: #DBE5F1">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: #DBE5F1">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: #DBE5F1">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: #DBE5F1">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: #DBE5F1">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: silver">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: silver">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: silver">X</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; border-left: #95B3D7 1pt solid; text-align: center">E</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: silver">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: silver">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: silver">X</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; border-left: #95B3D7 1pt solid; text-align: center; background-color: #DBE5F1">F</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: #DBE5F1">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: #DBE5F1">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; background-color: #DBE5F1; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: #DBE5F1">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; background-color: #DBE5F1; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: #DBE5F1">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: #DBE5F1">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: silver">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: silver">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: silver">X</TD></TR>
<TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; border-left: #95B3D7 1pt solid; text-align: center">G</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: silver">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: silver">X</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center; background-color: silver">X</TD></TR>
</TABLE>


<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 24.65pt"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 24.65pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">NOTE: BARDA will only cover stability activities for *&nbsp;*&nbsp;*</P>




<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left">Table 2.&#9;&nbsp;&nbsp;&nbsp;&nbsp;BCX4430 Drug Substance Stability Tests</P>

<P STYLE="font-size: 10pt; text-indent: 0.7pt; margin: 0pt 149.8pt 0pt 23.95pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.7pt; margin: 0pt 149.8pt 0pt 23.95pt"></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR>
    <TD STYLE="width: 14%; border-bottom: #95B3D7 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Test ID</B></FONT></TD>
    <TD STYLE="width: 86%; border-bottom: #95B3D7 1.5pt solid"><FONT STYLE="font-size: 10pt"><B>Test</B></FONT></TD></TR>
<TR STYLE="background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">A</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">B</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR STYLE="background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">c</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">D</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR STYLE="background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">E</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">F</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">G</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>


<P STYLE="font-size: 10pt; text-indent: 0.7pt; margin: 0pt 149.8pt 0pt 23.95pt"></P>

<P STYLE="font-size: 10pt; text-indent: 0.7pt; margin: 0pt 149.8pt 0pt 23.95pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.7pt; margin: 0pt 149.8pt 0pt 23.95pt"></P>




<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%">1.5.</TD><TD STYLE="width: 94%">Drug Product Development</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left">The contractor shall conduct drug product process
improvements that will be focused on validation of analytical methods, stress testing, stability studies, and process design space
optimization for an IM formulation.</P>

<P STYLE="font-size: 10pt; text-indent: 0.1pt; margin: 0pt 29.3pt 0pt 23.65pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall conduct formulation development activities
and produce a sterile, parenteral formulation containing *&nbsp;*&nbsp;* of the active compound per unit in compliance with GMP
guidance. Initial development efforts will be focused on delivering a *&nbsp;*&nbsp;* that tolerates terminal sterilization and
provides an acceptable stability profile. Additionally, studies to include: *&nbsp;*&nbsp;* will be conducted to evaluate the feasibility
of *&nbsp;*&nbsp;* .</P>




<P STYLE="font-size: 10pt; margin: 0pt 21.35pt 0pt 23.7pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%">1.5.1.</TD><TD STYLE="width: 94%">Stress Conditions Studies</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left">The contractor shall conduct a series of experiments
under conditions outlined in ICH guidance to evaluate the stability of the drug product made from available drug substance.</P>

<P STYLE="font-size: 10pt; text-indent: -0.25pt; margin: 0pt 59.4pt 0pt 23.9pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: -0.25pt; margin: 0pt 59.4pt 0pt 23.9pt"></P>

<!-- Field: Page; Sequence: 6 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 8pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --> of 20</TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>HHS0100201500007C</TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>November 3, 2017 </TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt">Pursuant to
17 CFR 20.24b-2, confidential information has been omitted in places marked &quot;***&quot; and has been filed separately with
the Securities and Exchange Commission pursuant to a Confidential Treatment Request with the Commission.</FONT></P>




<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>
<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%">1.5.2.</TD><TD STYLE="width: 94%">Design Space Studies</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall conduct studies to evaluate and define
the design space of the formulation process.</P>




<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 23.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%">1.5.3.</TD><TD STYLE="width: 94%">Analytical Method Validation</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left">The contractor shall conduct analytical methods validation or qualification
as listed in the <FONT STYLE="color: blue">Table 3 </FONT>below.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 23.4pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">Table 3.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BCX4430 Drug Product Methods that will be
Validated or Qualified</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0 0pt 10.95pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0 0pt 10.95pt"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 44%; border-bottom: #95B3D7 1.5pt solid"><FONT STYLE="font-size: 10pt"><B>Test</B></FONT></TD>
    <TD STYLE="width: 56%; border-bottom: #95B3D7 1.5pt solid"><FONT STYLE="font-size: 10pt"><B>Method and Objective</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt double; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt double"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>



<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%"><B>1.5.4.</B></TD><TD STYLE="width: 94%"><B>Prepare Process Development Report for DP</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left">The contractor shall prepare a process development report summarizing
the experiments and results of the studies conducted to define the process and evaluate the formulation.</P>

<P STYLE="font-size: 10pt; margin: 0pt 8.25pt 0pt 20.9pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%">1.5.5.</TD><TD STYLE="width: 94%">Pre-formulation and Physicochemical Properties Studies</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left">The contractor shall conduct studies to determine
the physicochemical properties of the drug substance and identify potential formulations and primary packaging for an IM injection
based on stability and ability to be produced on manufacturing lines.</P>

<P STYLE="font-size: 10pt; text-indent: -0.5pt; margin: 0pt 20.05pt 0pt 21.15pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%">1.5.6.</TD><TD STYLE="width: 94%">Feasibility Runs</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left">The contractor shall conduct small-scale<I>, </I>non-GMP
manufacturing runs of potential formulations and formats.</P>

<P STYLE="font-size: 10pt; text-indent: 0.1pt; margin: 0pt 0 0pt 20.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%">1.5.7.</TD><TD STYLE="width: 94%">Extractable/Leachable Study</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left">The contractor shall conduct studies to determine drug product stability
in primary packaging and of syringe types that will be used for delivery<FONT STYLE="font-size: 10pt">.</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 20.05pt 0pt 20.45pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 20.05pt 0pt 20.45pt"></P>

<!-- Field: Page; Sequence: 7 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 8pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --> of 20</TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>HHS0100201500007C</TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>November 3, 2017 </TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt">Pursuant to
17 CFR 20.24b-2, confidential information has been omitted in places marked &quot;***&quot; and has been filed separately with
the Securities and Exchange Commission pursuant to a Confidential Treatment Request with the Commission.</FONT></P>




<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>
<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%">1.5.8.</TD><TD STYLE="width: 94%">Excipient Compatibility Studies for IV Formulation from IM</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left">The contractor shall conduct studies to evaluate the
compatibility of the IM formulation added to various standard IV fluids.</P>

<P STYLE="font-size: 10pt; text-indent: -0.05pt; margin: 0pt 0 0pt 20.25pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%">1.6.</TD><TD STYLE="width: 94%">Manufacturing of Drug Product to Support Clinical Trials</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall produce *&nbsp;*&nbsp;* of *&nbsp;*&nbsp;*
of drug product suitable for clinical trial use. The drug product will be produced from the *&nbsp;*&nbsp;* GMP BCX4430 DS Batches
(WBS 1.4.1).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 52.7pt 0pt 20.2pt; text-indent: -0.25pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>1.6.1.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Manufacture of Clinical Trial Material (DP Batch </B>*&nbsp;*&nbsp;* <B>)</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall produce approximately *&nbsp;*&nbsp;* ,
assuming *&nbsp;*&nbsp;* of BCX4430 is delivered from the DS Batch *&nbsp;*&nbsp;* of BCX4430, per GMP for use in clinical trials
which will include active drug batches to support future clinical studies.</P>




<P STYLE="font-size: 10pt; text-indent: 0.05pt; margin: 0pt 8.25pt 0pt 22.3pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%">1.6.2.</TD><TD STYLE="width: 94%">Prepare a Campaign Summary Reports</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left">The contractor shall prepare a campaign summary
report of the manufacture and release of the CTM Batch.</P>

<P STYLE="font-size: 10pt; text-indent: -0.5pt; margin: 0pt 40.85pt 0pt 22.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%">1.6.3.</TD><TD STYLE="width: 94%">Drug Product Stability Studies - Active</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left">The contractor shall place drug product on stability
based on the following conditions:</P>

<P STYLE="font-size: 10pt; text-indent: 0.25pt; margin: 0pt 100.05pt 0pt 21.4pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">Table 4.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BCX4430 Drug Product Stability Testing Conditions
and sampling</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0 0pt 10.95pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0 0pt 10.95pt"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 34%; border-bottom: #95B3D7 1.5pt solid"><FONT STYLE="font-size: 10pt"><B>Stability Conditions</B></FONT></TD>
    <TD STYLE="width: 33%; border-bottom: #95B3D7 1.5pt solid"><FONT STYLE="font-size: 10pt"><B>Configuration</B></FONT></TD>
    <TD STYLE="width: 33%; border-bottom: #95B3D7 1.5pt solid"><FONT STYLE="font-size: 10pt"><B>Test Points</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 2.25pt double; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 2.25pt double; border-right: #95B3D7 1pt solid; background-color: #DBE5F1"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 2.25pt double"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>


<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0 0pt 10.95pt"></P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0 0pt 10.95pt">&nbsp;</P>




<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>NOTE: BARDA will only cover stability activities for </B>*&nbsp;*&nbsp;*</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Testing at each interval, unless otherwise specified below,
will include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.2pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 51px">&nbsp;</TD>
    <TD STYLE="width: 23px; font-size: 10pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 51px">&nbsp;</TD>
    <TD STYLE="width: 23px; font-size: 10pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 51px">&nbsp;</TD>
    <TD STYLE="width: 23px; font-size: 10pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 51px">&nbsp;</TD>
    <TD STYLE="width: 23px; font-size: 10pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>


<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"></P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>
<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 8pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --> of 20</TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>HHS0100201500007C</TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>November 3, 2017 </TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt">Pursuant to
17 CFR 20.24b-2, confidential information has been omitted in places marked &quot;***&quot; and has been filed separately with
the Securities and Exchange Commission pursuant to a Confidential Treatment Request with the Commission.</FONT></P>




<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>
<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 38.35pt">&nbsp;</TD>
    <TD STYLE="width: 17.4pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 38.35pt">&nbsp;</TD>
    <TD STYLE="width: 17.4pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 38.35pt">&nbsp;</TD>
    <TD STYLE="width: 17.4pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 38.35pt">&nbsp;</TD>
    <TD STYLE="width: 17.4pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>1.6.4.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Comparability Study</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall conduct comparability studies evaluating
drug substance produced by *&nbsp;*&nbsp;* , and the subsequently produced drug product, will be conduct per FDA Guidance. These
studies will evaluate: in-process checks, impurity profiles, release testing results, and stability profiles at standard and accelerated
conditions to ensure the material produced by both manufacturers is substantially comparable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 23.55pt 0pt 21.4pt; text-indent: -0.25pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>1.7.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Manufacture of Additional Supply</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall produce approximately *&nbsp;*&nbsp;* of
BCX4430 utilizing the *&nbsp;*&nbsp;* process for BCX4430 from the *&nbsp;*&nbsp;* facility. The contractor shall also produce
*&nbsp;*&nbsp;* of *&nbsp;*&nbsp;* of non-GMP BCX4430 and *&nbsp;*&nbsp;* of GMP BCX4430 using the *&nbsp;*&nbsp;* . The contractor
shall produce approximately *&nbsp;*&nbsp;* of drug product at *&nbsp;*&nbsp;* suitable for clinical trial use.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 18.3pt 0pt 21.4pt; text-indent: -0.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>1.7.1.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Manufacturing of approximately </B>*&nbsp;*&nbsp;* <B>GMP BCX4430</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall produce approximately *&nbsp;*&nbsp;* of
GMP BCX4430 (DS Batch *&nbsp;*&nbsp;* ) from *&nbsp;*&nbsp;* following the *&nbsp;*&nbsp;*</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 20.7pt; text-indent: 0.25pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>1.7.2.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Prepare a Campaign Summary Report</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall prepare a campaign summary report of the
manufacture and release of DS following completion of *&nbsp;*&nbsp;* manufacture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 40.85pt 0pt 20.7pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>1.7.3.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* <B>Drug Substance Analytical Method Development and Validation</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">*&nbsp;*&nbsp;* will develop analytical methods suited for the
process followed by validation conducted under protocol. Methods will be validated using standard criteria: *&nbsp;*&nbsp;* . Method
qualification will be conducted prior to validation<B>.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>1.7.4.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Manufacturing of approximately </B>*&nbsp;*&nbsp;* <B>&nbsp;of Non-GMP BCX4430 &ndash; </B>*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Following the receipt of sufficient quantities of starting materials
and reagents, *&nbsp;*&nbsp;* will qualify the selected process at *&nbsp;*&nbsp;* scale using the *&nbsp;*&nbsp;* DS process.
The Analytical department will support production during the duration of the qualification run. Following completion of manufacturing
the vendor will draft and issue a process qualification report.</P>



<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 18.35pt 0pt 21.4pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 18.35pt 0pt 21.4pt"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt">Pursuant to
17 CFR 20.24b-2, confidential information has been omitted in places marked &quot;***&quot; and has been filed separately with
the Securities and Exchange Commission pursuant to a Confidential Treatment Request with the Commission.</FONT></P>




<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>
<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>1.7.5.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Manufacturing of approximately </B>*&nbsp;*&nbsp;* <B>of GMP BCX4430 &ndash; </B>*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Following the receipt of sufficient quantities of starting materials
and reagents, *&nbsp;*&nbsp;* will manufacture *&nbsp;*&nbsp;* of GMP BCX4430 following the *&nbsp;*&nbsp;* . Following completion
of manufacturing, material testing, and release the vendor will draft and issue a campaign Summary Report</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11.35pt 0pt 21.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>1.7.6.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Manufacturing of approximately </B>*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall produce approximately *&nbsp;*&nbsp;*
of GMP BCX4430 drug product using *&nbsp;*&nbsp;* GMP drug substance (WBS 1.7.1)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.25pt 0pt 18.15pt; text-indent: -0.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>1.7.5.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Prepare a Campaign Summary Report</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall prepare a campaign summary report of the
manufacture and release of CTM Batches.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 20.05pt 0pt 18.2pt; text-indent: -0.65pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>1.7.6.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Stability Studies for DP</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall conduct product stabilities for the DP
manufactured from the batches of GMP BCX4430 drug substance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 23.55pt 0pt 17.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>NOTE: BARDA will only cover stability activities for </B>*&nbsp;*&nbsp;*</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.8pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>1.7.7.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Comparability Studies</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall conduct comparability studies evaluating
drug substance produced by *&nbsp;*&nbsp;* using both processes, and the subsequently produced drug product, will be conduct per
FDA Guidance. These studies will evaluate: in-process checks, impurity profiles, release testing results, and stability profiles
at standard and accelerated conditions to ensure the material produced by both manufacturing processes are substantially comparable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 27.2pt 0pt 17.3pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>1.8.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Drug Product </B>*&nbsp;*&nbsp;* <B>Formulation Development</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">*&nbsp;*&nbsp;* has been identified as a potential product presentation
that will provide a stable formulation suitable for IV administration at potentially higher doses than are feasible by *&nbsp;*&nbsp;*
.. A *&nbsp;*&nbsp;* process will be developed that can be scaled to the manufacturing facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 14.15pt 0pt 11.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>1.8.1.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Analytical Method Development</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Confirmation that the *&nbsp;*&nbsp;* is suitable for a *&nbsp;*&nbsp;*
product and qualification of a *&nbsp;*&nbsp;* .</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>1.8.2.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Pre-formulation Studies</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Evaluate the current IM formulation and bulking agents to produce
a prototype *&nbsp;*&nbsp;* product.</P>



<P STYLE="font-size: 10pt; margin: 0pt 18.35pt 0pt 21.4pt"></P>

<P STYLE="font-size: 10pt; margin: 0pt 18.35pt 0pt 21.4pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 11.55pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 11.55pt"></P>

<!-- Field: Page; Sequence: 10 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 8pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --> of 20</TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>HHS0100201500007C</TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>November 3, 2017 </TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt">Pursuant to
17 CFR 20.24b-2, confidential information has been omitted in places marked &quot;***&quot; and has been filed separately with
the Securities and Exchange Commission pursuant to a Confidential Treatment Request with the Commission.</FONT></P>




<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>
<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>1.8.3.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* <B>Cycle Development</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Evaluate *&nbsp;*&nbsp;* process cycles capable of producing
the final product to specifications utilizing a design of experiments of known critical process parameters. The critical parameters
will be confirmed and ranges established in subsequent small-scale runs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 20.05pt 0pt 11.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>1.8.4.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Stability Study</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Evaluate the stability of the product produced during cycle
development. Two fill volumes will be placed on accelerated and real-time studies. *&nbsp;*&nbsp;* will be run for *&nbsp;*&nbsp;*
with *&nbsp;*&nbsp;* and *&nbsp;*&nbsp;* run for *&nbsp;*&nbsp;* .</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 20.05pt 0pt 11.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>1.8.5.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Terminal Sterilization</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Product produced during cycle development will be subjected
to terminal sterilization by gamma irradiation. The irradiated product will be tested for changes in chemical and physical characteristics.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 20.05pt 0pt 11.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>1.8.6.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Pre-manufacturing Studies</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A material comparability study examining processing and packaging
components will be performed. Additionally, a microbial retention filter validation study will be performed using the *&nbsp;*&nbsp;*
, identified during cycle development.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 36.05pt 0pt 11.55pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 62.05pt 0pt 0"><B>OPTION 1: COMMERCIAL SCALE UP AND NDA REGISTRATION
BATCHES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 62.05pt 0pt 10.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Duration: *&nbsp;*&nbsp;*</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Go/No Go Criteria to Initiate: WBS 1.2.2 BARDA approval of process
developed Through optimization of manufacturing processes, BARDA will evaluate and determine</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 42.75pt 0pt 10.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">what process should be sufficient to initiate commercial scale
up activities in this Option. This Option will add value to the project through conducting manufacturing regulatory activities
that will be needed for future product approval with the FDA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 20.05pt 0pt 11pt; text-indent: -0.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Decision Criteria:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The objective is to produce DS registration batches from the
qualified process, *&nbsp;*&nbsp;* . This will be determined upon the conclusion of the DS development effort being undertaken
by BioCryst and funded by NIAID that is scheduled to conclude in December 2015. Additionally, during this stage, the DP manufacturing
process would be finalized for the commercial presentation and registration batches produced.</P>



<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 11.55pt"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 11.55pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 11.95pt 0pt 10.95pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 11.95pt 0pt 10.95pt"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt">Pursuant to
17 CFR 20.24b-2, confidential information has been omitted in places marked &quot;***&quot; and has been filed separately with
the Securities and Exchange Commission pursuant to a Confidential Treatment Request with the Commission.</FONT></P>




<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>
<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>2.1.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Procurement</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall procure the *&nbsp;*&nbsp;* and *&nbsp;*&nbsp;*
starting materials needed to produce BCX4430.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 90.95pt 0pt 11pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>2.1.1.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Procurement of </B>*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall qualify a vendor(s) to produce the *&nbsp;*&nbsp;*
starting material and procure enough material to support the manufacture of *&nbsp;*&nbsp;* batches of BCX4430 drug substance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 44.4pt 0pt 10.95pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>2.1.2.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Procurement of </B>*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall qualify a vendor(s) to produce the *&nbsp;*&nbsp;*
starting material and procure enough material to support the manufacture of *&nbsp;*&nbsp;* batches of BCX4430 drug substance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 55.15pt 0pt 10.95pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>2.2.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Drug Substance Process Scale-up</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall conduct process development work targeting
a *&nbsp;*&nbsp;* that can be scaled to plant equipment. This work will include: development of a *&nbsp;*&nbsp;* through lab scale
studies, process hazard evaluation including RC-1 and digital scanning calorimetry, lab scale qualification runs, pilot plant scale-up
technical batches, necessary modifications to analytical methods based on the *&nbsp;*&nbsp;* , and plant-scale registration runs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.8pt 0pt 10.95pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>2.2.1</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Further Process Improvements of Final Route</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall conduct further process improvements that
may be identified focused on improving the *&nbsp;*&nbsp;* to be scaled up. The *&nbsp;*&nbsp;* will be based on *&nbsp;*&nbsp;*
..</P>





<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 24pt 0pt 10.95pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%">2.2.2</TD><TD STYLE="width: 94%">Process Hazard Evaluation</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left">The contractor shall conduct process hazard evaluation studies needed
for the scale-up of the optimized process into the plant.</P>

<P STYLE="font-size: 10pt; margin: 0pt 20.05pt 0pt 10.95pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%">2.2.3</TD><TD STYLE="width: 94%">Scale-up Technical Run</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left">The contractor shall conduct a nonGMP manufacturing run at plant-scale
to ensure the safety and output of the optimized process.</P>

<P STYLE="font-size: 10pt; margin: 0pt 20.05pt 0pt 10.95pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%">2.2.4</TD><TD STYLE="width: 94%">Analytical Method Development and Qualification</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left">The contractor shall modify, add to, revalidate, or requalify the analytical
methods.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 11pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%">2.2.5</TD><TD STYLE="width: 94%">Prepare Process Development Report</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left">The contractor shall prepare a process development report
describing the experiments and results leading to the selection of the optimized manufacturing process</P>

<P STYLE="font-size: 10pt; text-indent: -0.05pt; margin: 0pt 0 0pt 11pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: -0.05pt; margin: 0pt 0 0pt 11pt"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt">Pursuant to
17 CFR 20.24b-2, confidential information has been omitted in places marked &quot;***&quot; and has been filed separately with
the Securities and Exchange Commission pursuant to a Confidential Treatment Request with the Commission.</FONT></P>




<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>
<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>2.3</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Manufacture of GMP Drug Substance Registration Batches</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall produce *&nbsp;*&nbsp;* GMP batches of
BCX4430 following the *&nbsp;*&nbsp;* at a scale comparable to the estimated commercial scale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 23.55pt 0pt 11pt; text-indent: -0.05pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>2.3.1</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Manufacture of DS Batch (DS Registration Batch </B>*&nbsp;*&nbsp;* <B>)</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall manufacture a batch of GMP BCX4430 at plant
scale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>2.3.2</B></FONT></TD>
    <TD STYLE="font-size: 10pt; width: 94%"><FONT STYLE="font-size: 10pt"><B>Manufacture of DS Batch (DS Registration Batch </B>*&nbsp;*&nbsp;* <B>)</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall manufacture a batch of GMP BCX4430 at plant
scale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>2.3.3</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Manufacture of DS Batch (DS Registration Batch </B>*&nbsp;*&nbsp;* <B>)</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall manufacture a batch of GMP BCX4430 at plant
scale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>2.3.4</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Prepare Campaign Summary Report</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall prepare a report summarizing the conduct,
observations, and results of the manufacturing of DS Registration Batches *&nbsp;*&nbsp;* .</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 67.2pt 0pt 10.95pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt; color: #383D3B"><B>2.4</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt; color: #383D3B"><B>Drug Product Registrat</B></FONT><B><FONT STYLE="font-size: 10pt; color: #1F2323">i</FONT></B><B><FONT STYLE="font-size: 10pt; color: #383D3B">on Batches</FONT></B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: #1F2323">The contractor shall produce </FONT>*&nbsp;*&nbsp;*
<FONT STYLE="color: #1F2323">drug product lots at a qualified CMO tha</FONT><FONT STYLE="color: #383D3B">t </FONT><FONT STYLE="color: #1F2323">will
be used as the NDA registration batches.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 27.2pt 0pt 10.95pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt; color: #1F2323"><B>2.4.1</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt; color: #1F2323"><B>Manufacture of DP Registration (DP Registr</B></FONT><B><FONT STYLE="font-size: 10pt; color: #383D3B">a</FONT></B><B><FONT STYLE="font-size: 10pt; color: #1F2323">tion Batch </FONT></B><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* <FONT STYLE="color: #1F2323"><B>)</B></FONT></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: #1F2323">The contractor shall manufacture
a NDA registration batch of GMP BCX4430 drug product at a representative fraction of the estimated commercial scale</FONT><FONT STYLE="color: #494D4B">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.9in 0pt 10.95pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt; color: #1F2323"><B>2.4.2</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt; color: #1F2323"><B>Manufacture of DP Registration (DP Registration Batc</B></FONT><B><FONT STYLE="font-size: 10pt; color: #383D3B">h</FONT></B> <FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* <FONT STYLE="color: #1F2323"><B>)</B></FONT></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: #1F2323">The contractor shall manufacture
a NDA registration batch of GMP BCX4430 drug product at a rep</FONT><FONT STYLE="color: #383D3B">r</FONT><FONT STYLE="color: #1F2323">esen</FONT><FONT STYLE="color: #383D3B">t</FONT><FONT STYLE="color: #1F2323">ative
fraction of the estimated commercial scale</FONT><FONT STYLE="color: #383D3B">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 12.8pt 0pt 10.95pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt; color: #1F2323"><B>2.4.3</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt; color: #1F2323"><B>Manufacture of DP Registration </B></FONT><B><FONT STYLE="font-size: 10pt; color: #383D3B">(</FONT></B><B><FONT STYLE="font-size: 10pt; color: #1F2323">DP Registration Batch </FONT></B><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* <FONT STYLE="color: #1F2323"><B>)</B></FONT></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall manufacture a NDA registration batch of
GMP BCX4430 drug product at a representative fraction of the estimated commercial scale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 73.4pt 0pt 11pt; color: #1F2323">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt; color: #1F2323"><B>2.4.4</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt; color: #1F2323"><B>Prepare campaign summary repo</B></FONT><B><FONT STYLE="font-size: 10pt; color: #383D3B">r</FONT></B><B><FONT STYLE="font-size: 10pt; color: #1F2323">t</FONT></B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall prepare a report summarizing the conduct,
observations, and results of the manufacturing of DPR Batches *&nbsp;*&nbsp;* .</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.25pt 0pt 11pt; color: #1F2323">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt; color: #383D3B"><B>2.5</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt; color: #1F2323"><B>Stability studies for DS and DP</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #1F2323">The contractor shall conduct drug substance
and drug product stabilities as described in <B><I>Table 4</I></B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 20.05pt 0pt 10.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: #1F2323"><B>NOTE: BARDA will on</B></FONT><B><FONT STYLE="color: #383D3B">l</FONT><FONT STYLE="color: #1F2323">y
cover stability activities for </FONT></B>*&nbsp;*&nbsp;*</P>



<P STYLE="font-size: 10pt; text-indent: -0.05pt; margin: 0pt 0 0pt 11pt"></P>

<P STYLE="font-size: 10pt; text-indent: -0.05pt; margin: 0pt 0 0pt 11pt">&nbsp;</P>



<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0 0pt 11pt">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin: 0pt 0 0pt 11pt"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt">Pursuant to
17 CFR 20.24b-2, confidential information has been omitted in places marked &quot;***&quot; and has been filed separately with
the Securities and Exchange Commission pursuant to a Confidential Treatment Request with the Commission.</FONT></P>




<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>
<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt; color: #383D3B"><B>2.6</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt; color: #1F2323"><B>Comparability study</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: #1F2323">The contractor shall conduct comparability
studies evaluating drug substance produced for clinical trials </FONT><FONT STYLE="color: #383D3B">i</FONT><FONT STYLE="color: #1F2323">n
the base period versus the NDA registration batches manufactured via </FONT>*&nbsp;*&nbsp;* <FONT STYLE="color: #1F2323">, and
the subsequently produced d</FONT><FONT STYLE="color: #383D3B">r</FONT><FONT STYLE="color: #1F2323">ug product, will be conduct
per FDA Guidance</FONT><FONT STYLE="color: #383D3B">. </FONT><FONT STYLE="color: #1F2323">These studies will evaluate: in-process
checks, impurity profiles, release testing results, and stability profiles at standard and accelerated conditions to ensure the
material produced by both processes is substantially comparable.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 19.9pt 0pt 10.95pt; text-indent: 0.25pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #1F2323"><B>OPTION 2: NONCLINICAL NDA-ENABLING TOXICOLOGY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.2pt; color: #1F2323"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Duration: *&nbsp;*&nbsp;*</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.45pt; color: #1F2323">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Go/No Go Criteria to Initiate: Availability of GMP BCX4430 *&nbsp;*&nbsp;*
DS batch manufactured under NIAID contract HHS0100201500007</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.25pt; text-indent: -0.05pt; color: #1F2323">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Through completion of manufacturing of Drug substance there
will be material to conduct further regulatory activities such as the non-clinical NDA-enabling toxicology studies in this option.
This Option will add value to the project through conducting additional non-clinical activities that will support a potential future
NDA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 26.95pt 0pt 11.2pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Decision Criterion:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall perform nonclinical GLP studies of BCX4430
to characterize *&nbsp;*&nbsp;* .</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10.95pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>3.1.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>GLP </B>*&nbsp;*&nbsp;* <B>Toxicology</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall for each toxicology study develop the protocol,
select and qualify the vendor, conduct in life and recovery phases and analyze study data resulting in a final study report. Studies
include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 77.8pt 0pt 18.4pt; text-align: justify; text-indent: -0.6pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>3.1.1.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Conduct GLP </B>*&nbsp;*&nbsp;* <B>toxicology study- </B>*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>3.1.2.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Conduct GLP </B>*&nbsp;*&nbsp;* <B>general toxicology study- </B>*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>3.2.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* <B>toxicology</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall for each *&nbsp;*&nbsp;* study segment
develop the protocol, select and qualify the vendor, conduct in life and recovery phases and analyze study data resulting in a
final study report.</P>





<P STYLE="font-size: 10pt; margin: 0pt 40.85pt 0pt 17.45pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left">Studies include:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 17.45pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 17.45pt"></P>

<!-- Field: Page; Sequence: 14 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt">Pursuant to
17 CFR 20.24b-2, confidential information has been omitted in places marked &quot;***&quot; and has been filed separately with
the Securities and Exchange Commission pursuant to a Confidential Treatment Request with the Commission.</FONT></P>




<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>
<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>3.2.1.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Conduct </B>*&nbsp;*&nbsp;* <B>assessment in </B>*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>3.2.2.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Conduct </B>*&nbsp;*&nbsp;* <B>Dose Range Finding Studies in the </B>*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>3.2.3.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Conduct Definitive </B>*&nbsp;*&nbsp;* <B>toxicology in the </B>*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>3.2.4.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Conduct </B>*&nbsp;*&nbsp;* <B>toxicology </B> *&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>3.3.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Nonclinical ADME</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall procure radiolabeled BCX4430. In addition,
for each ADME study, the contractor shall develop the protocol, select and qualify the vendor, conduct the study and analyze study
data resulting in a final study report. Studies include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 29.3pt 0pt 17.2pt; text-indent: -0.25pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>3.3.1.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Conduct Radiolabeled ADME study- </B>*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>3.3.2.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Conduct Radiolabeled ADME- </B>*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A listing of the proposed studies for the nonclinical NDA-enabling
toxicology studies is provided in <FONT STYLE="color: blue">Table 5</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.75pt 0pt 16.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Table 5.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nonclinical
NDA-enabling Toxicology Studies</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10.95pt"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 30%; border-bottom: #95B3D7 1.5pt solid"><FONT STYLE="font-size: 10pt"><B>Description</B></FONT></TD>
    <TD STYLE="width: 50%; border-bottom: #95B3D7 1.5pt solid"><FONT STYLE="font-size: 10pt"><B>Objectives</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 20%; border-bottom: #95B3D7 1.5pt solid"><FONT STYLE="font-size: 10pt"><B>Species</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">GLP *&nbsp;*&nbsp;* general toxicology</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">GLP *&nbsp;*&nbsp;* general toxicology</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; background-color: #DBE5F1"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-top: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* assessment</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-top: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>






<P STYLE="font-size: 10pt; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B></B></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt">Pursuant to
17 CFR 20.24b-2, confidential information has been omitted in places marked &quot;***&quot; and has been filed separately with
the Securities and Exchange Commission pursuant to a Confidential Treatment Request with the Commission.</FONT></P>




<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>
<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 30%; border-bottom: #95B3D7 1.5pt solid"><FONT STYLE="font-size: 10pt"><B>Description</B></FONT></TD>
    <TD STYLE="width: 50%; border-bottom: #95B3D7 1.5pt solid"><FONT STYLE="font-size: 10pt"><B>Objectives</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 20%; border-bottom: #95B3D7 1.5pt solid"><FONT STYLE="font-size: 10pt"><B>Species</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* Dose Range Finding</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; background-color: #DBE5F1"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* Dose Range Finding</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">Definitive *&nbsp;*&nbsp;* toxicology</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; background-color: #DBE5F1"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">Definitive *&nbsp;*&nbsp;* toxicology</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* toxicology</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; background-color: #DBE5F1"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR STYLE="background-color: #DBE5F1">
    <TD STYLE="vertical-align: top; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">Radiolabeled ADME</FONT></TD>
    <TD STYLE="border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">Determine the absorption, distribution, metabolism and excretion of the test article following IM dosing</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: #95B3D7 2.25pt double"><FONT STYLE="font-size: 10pt">Radiolabeled ADME</FONT></TD>
    <TD STYLE="border-top: #95B3D7 2.25pt double"><FONT STYLE="font-size: 10pt">Determine the absorption, metabolism and excretion of the test article following IM dosing</FONT></TD>
    <TD STYLE="vertical-align: top; border-top: #95B3D7 2.25pt double"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>OPTION 3: <I>IN VITRO </I>EXPERIMENTS- IV</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Duration: *&nbsp;*&nbsp;*</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Go/No Go to Initiate: Selection of a preliminary IV formulation
(LRI) based on initial studies</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 20.05pt 0pt 21.65pt; text-indent: -0.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Through completion of earlier studies, an appropriate IV formulation
to continue with toxicology studies of the IV formulation under this Option will be determined. This Option will add value to <FONT STYLE="color: #313436">determine
</FONT><FONT STYLE="color: #3F4444">if </FONT><FONT STYLE="color: #313436">there is any identified toxicology </FONT><FONT STYLE="color: #3F4444">in
<I>in </I></FONT><I><FONT STYLE="color: #313436">vitro </FONT></I><FONT STYLE="color: #313436">assays before </FONT><FONT STYLE="color: #3F4444">moving
</FONT><FONT STYLE="color: #313436">to animal studies in </FONT><FONT STYLE="color: #1F2121">Option 4</FONT><FONT STYLE="color: #3F4444">.</FONT></P>





<P STYLE="font-size: 10pt; text-indent: -0.5pt; margin: 0pt 29.3pt 0pt 21.65pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: -0.5pt; margin: 0pt 29.3pt 0pt 21.65pt"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt">Pursuant to
17 CFR 20.24b-2, confidential information has been omitted in places marked &quot;***&quot; and has been filed separately with
the Securities and Exchange Commission pursuant to a Confidential Treatment Request with the Commission.</FONT></P>




<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>
<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Decision Criterion:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 18.65pt; color: #1F2121">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 70px">&nbsp;</TD>
    <TD STYLE="width: 23px; font-size: 10pt"><FONT STYLE="font-size: 10pt; color: #313436">&bull;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>4.1.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* <B>- IV</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: #1F2121">The contractor shall develop the
protocol, select and qualify the vendor, conduct the exper</FONT><FONT STYLE="color: #3F4444">i</FONT><FONT STYLE="color: #1F2121">ments
and analyze the data resulting in a study report.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.9pt; text-indent: -0.2pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>4.2.</B></FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Conduct </B>*&nbsp;*&nbsp;* <B>Test -IV</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall develop the protocol, select and qualify
the vendor, conduct the experiment and analyze the data resulting in a study report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.9pt; text-indent: -0.25pt; color: #1F2121">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: #1F2121">A listing of the proposed experiments
for the <I>in vitro </I>experiments to be conducted in advance of the nonclinical NDA-enabling toxicology studies for </FONT><FONT STYLE="color: #313436">the
</FONT><FONT STYLE="color: #1F2121">IV formulation </FONT><FONT STYLE="color: #313436">is </FONT><FONT STYLE="color: #1F2121">provided
in <B><I>Table 6</I></B></FONT><FONT STYLE="color: blue">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 51.85pt 0pt 18.15pt; text-align: justify; text-indent: -0.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Table 6.&#9;Invitro Experiments &ndash; IV</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11pt"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 30%; border-bottom: #95B3D7 1.5pt solid"><FONT STYLE="font-size: 10pt"><B>Description</B></FONT></TD>
    <TD STYLE="width: 50%; border-bottom: #95B3D7 1.5pt solid"><FONT STYLE="font-size: 10pt"><B>Objective(s)</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 20%; border-bottom: #95B3D7 1.5pt solid"><FONT STYLE="font-size: 10pt"><B>Species</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%"><FONT STYLE="font-size: 10pt; color: #1F2121"><B>4.3</B></FONT></TD>
    <TD STYLE="width: 94%"><FONT STYLE="font-size: 10pt; color: #1F2121"><B>Study Report on all</B></FONT><B> <FONT STYLE="font-size: 10pt; color: #313436">in</FONT></B><B> <FONT STYLE="font-size: 10pt; color: #1F2121">vitro assays</FONT></B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: #1F2121">The contractor shall submit a summarized
study </FONT><FONT STYLE="color: #313436">report </FONT><FONT STYLE="color: #1F2121">with data and conclusions from all in vitro
experiments conducted in Table 6 to determine whether there is any toxicology before advancing into non-clinical NDA enabling toxicology
studies (Option 5).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 36.05pt 0pt 17.7pt; text-indent: -0.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: #1F2121"><B>OPTION </B></FONT><B><FONT STYLE="color: #313436">4:
</FONT><FONT STYLE="color: #1F2121">NONCLINICAL NDA-ENABLING </FONT><FONT STYLE="color: #313436">TOXICOLOGY</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.7pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Duration: *&nbsp;*&nbsp;*</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.95pt; color: #1F2121">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #1F2121">Go/No Go Criteria to Initiate: WBS 4.3 Study
Report on all <I>in vitro </I>assays</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #1F2121">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: #1F2121">Through completion of the IV <I>in
vitro </I></FONT><FONT STYLE="color: #313436">toxicology </FONT><FONT STYLE="color: #1F2121">studies with the </FONT><FONT STYLE="color: #313436">IV
formulation </FONT>conducted <FONT STYLE="color: #313436">in </FONT><FONT STYLE="color: #1F2121">Option 3 and summarized in WBS
4.3, it will be determined </FONT><FONT STYLE="color: #313436">if </FONT><FONT STYLE="color: #1F2121">the IV formulation is safe
to move into non-clinical toxicology animal studies in this Option. This Option will add value </FONT><FONT STYLE="color: #313436">to
</FONT><FONT STYLE="color: #1F2121">the project </FONT><FONT STYLE="color: #313436">through </FONT><FONT STYLE="color: #1F2121">conducting
additional non-clinical activities that will support a potential future NDA.</FONT></P>



<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left"></P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>
<P STYLE="font-size: 10pt; margin: 0pt 40.85pt 0pt 17.2pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 40.85pt 0pt 17.2pt"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt">Pursuant to
17 CFR 20.24b-2, confidential information has been omitted in places marked &quot;***&quot; and has been filed separately with
the Securities and Exchange Commission pursuant to a Confidential Treatment Request with the Commission.</FONT></P>




<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>
<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: #1F2121">Decision Criterion</FONT><FONT STYLE="color: #3F4444">:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.7pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 69px">&nbsp;</TD>
    <TD STYLE="width: 23px; font-size: 10pt"><FONT STYLE="font-size: 10pt; color: #313436">&bull;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 69px">&nbsp;</TD>
    <TD STYLE="width: 23px; font-size: 10pt"><FONT STYLE="font-size: 10pt; color: #3F3F49">&bull;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; font-size: 10pt"><FONT STYLE="font-size: 10pt; color: #212424"><B>5.1.</B></FONT></TD>
    <TD STYLE="width: 95%; font-size: 10pt"><FONT STYLE="font-size: 10pt; color: #212424"><B>GLP </B></FONT><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* <FONT STYLE="color: #3F3F49"><B>T</B></FONT><B><FONT STYLE="color: #212424">oxicology</FONT></B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall for each toxicology study develop the protocol,
select and qualify the vendor, conduct in life and recovery phases and analyze study data resulting in a final study report. Studies
include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 72.85pt 0pt 22.8pt; text-align: justify; text-indent: -0.45pt; color: #212424">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>5.1.1.</B></FONT></TD>
    <TD STYLE="width: 95%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Conduct GLP </B>*&nbsp;*&nbsp;* <B>general toxicology study- </B>*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; font-size: 10pt"><FONT STYLE="font-size: 10pt; color: #212424"><B>5.1.2.</B></FONT></TD>
    <TD STYLE="width: 95%; font-size: 10pt"><FONT STYLE="font-size: 10pt; color: #212424"><B>Conduct GLP </B></FONT><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* <FONT STYLE="color: #212424"><B>toxicology study</B></FONT><B> <FONT STYLE="color: #3F3F49">-</FONT></B> *&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>5.2.</B></FONT></TD>
    <TD STYLE="width: 95%; font-size: 10pt"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* <B>toxicology</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: #212424">The contractor shall for each </FONT>*&nbsp;*&nbsp;*
<FONT STYLE="color: #212424">study segment develop the protocol, select and qualify the vendor, conduct in life and recovery phases
and analyze study data resulting in a final study report. Stud</FONT><FONT STYLE="color: #3F3F49">i</FONT><FONT STYLE="color: #212424">es
include:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 23.55pt 0pt 22.1pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>5.2.1.</B></FONT></TD>
    <TD STYLE="width: 95%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Conduct </B>*&nbsp;*&nbsp;* <B>assessment in </B>*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>5.2.2.</B></FONT></TD>
    <TD STYLE="width: 95%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Conduct </B>*&nbsp;*&nbsp;* <B>Dose Range Finding Studies in the </B>*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>5.2.3.</B></FONT></TD>
    <TD STYLE="width: 95%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Conduct Definitive </B>*&nbsp;*&nbsp;* <B>toxicology in the </B>*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>5.2.4.</B></FONT></TD>
    <TD STYLE="width: 95%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Conduct </B>*&nbsp;*&nbsp;* <B>toxicology </B>*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: #212424">A listing of the proposed studies
for the nonclinical NDA</FONT>-<FONT STYLE="color: #212424">enabling toxicology studies for the IV formulation is provided in Table
8.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 59.4pt 0pt 21.65pt; text-indent: 0.2pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #212424"><B>Table 8:&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nonclinical
NDA-enabling Toxicology Studies</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.4pt; color: #212424"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; border-bottom: #95B3D7 1.5pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Description</B></FONT></TD>
    <TD STYLE="width: 50%; border-bottom: #95B3D7 1.5pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Objectives</B></FONT></TD>
    <TD STYLE="width: 20%; border-bottom: #95B3D7 1.5pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Species</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt">GLP *&nbsp;*&nbsp;* general toxicology</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>


<P STYLE="font-size: 10pt; margin: 0pt 40.85pt 0pt 17.2pt"></P>

<P STYLE="font-size: 10pt; margin: 0pt 40.85pt 0pt 17.2pt">&nbsp;</P>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<!-- Field: Page; Sequence: 18 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 8pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --> of 20</TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>HHS0100201500007C</TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>November 3, 2017 </TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt">Pursuant to
17 CFR 20.24b-2, confidential information has been omitted in places marked &quot;***&quot; and has been filed separately with
the Securities and Exchange Commission pursuant to a Confidential Treatment Request with the Commission.</FONT></P>




<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>
<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; border-bottom: #95B3D7 1.5pt solid"><FONT STYLE="font-size: 10pt"><B>Description</B></FONT></TD>
    <TD STYLE="width: 50%; border-bottom: #95B3D7 1.5pt solid"><FONT STYLE="font-size: 10pt"><B>Objectives</B></FONT></TD>
    <TD STYLE="width: 20%; border-bottom: #95B3D7 1.5pt solid"><FONT STYLE="font-size: 10pt"><B>Species</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">GLP *&nbsp;*&nbsp;* general toxicology</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; background-color: #DBE5F1"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* assessment</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* Dose Range Finding</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; background-color: #DBE5F1"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* Dose Range Finding</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">Definitive *&nbsp;*&nbsp;* toxicology</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; background-color: #DBE5F1"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 2.25pt double; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">Definitive *&nbsp;*&nbsp;* toxicology</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 2.25pt double; border-right: #95B3D7 1pt solid"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 2.25pt double"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* toxicology</FONT></TD>
    <TD STYLE="padding-left: 10.05pt"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>


<P STYLE="margin-top: 0; margin-bottom: 0"></P>


<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt">Pursuant to
17 CFR 20.24b-2, confidential information has been omitted in places marked &quot;***&quot; and has been filed separately with
the Securities and Exchange Commission pursuant to a Confidential Treatment Request with the Commission.</FONT></P>




<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>
<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>
<P STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 12pt"><B>6&nbsp;&nbsp;&nbsp; PROGRAM MANAGEMENT</B></FONT></P>



<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left">The contractor shall provide all expertise needed
for the implementation of the activities to be performed under this contract, including: research, manufacturing, regulatory, clinical,
statistical analyses, management and administrative activities.</P>

<P STYLE="font-size: 10pt; text-indent: -0.25pt; margin: 0pt 56.55pt 0pt 21.65pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%">6.1.</TD><TD STYLE="width: 94%">Technical and Project Management Support</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left">The contractor shall appoint a Principal Investigator
(PI) who will be responsible for all aspects of project performance and communication with BARDA.</P>

<P STYLE="font-size: 10pt; text-indent: -0.85pt; margin: 0pt 37.2pt 0pt 21.65pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left">The contractor shall provide project management
that will ensure day-to-day monitoring and tracking of progress and timelines, the coordination of project activities and costs
incurred.</P>

<P STYLE="font-size: 10pt; text-indent: -0.85pt; margin: 0pt 20.05pt 0pt 21.65pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left">The contractor shall provide all managerial and
administrative functions necessary for overall planning, monitoring, and implementing activities for the completion of the strategic
product development plan.</P>

<P STYLE="font-size: 10pt; text-indent: -0.85pt; margin: 0pt 8.25pt 0pt 21.65pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left">The contractor shall provide
for all necessary legal affairs required to ensure the timely acquisition of all proprietary rights, including intellectual property
rights and all materials needed to perform the project, as well as reporting to the Government all inventions made in the performance
of the project.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.25pt; margin: 0pt 25.4pt 0pt 21.15pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%">6.2.</TD><TD STYLE="width: 94%">Subcontractor Management</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The contractor shall provide for tracking, coordination and
oversight of subcontractor efforts and manage communications with subcontractors.</P>




<P STYLE="font-size: 10pt; text-indent: -0.75pt; margin: 0pt 55.15pt 0pt 21.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%">6.3.</TD><TD STYLE="width: 94%">Risk Management</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left">The contractor shall identify project risks, develop
risk management strategies and implement mitigation actions.</P>

<P STYLE="font-size: 10pt; text-indent: -0.75pt; margin: 0pt 59.4pt 0pt 21.15pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%">6.4.</TD><TD STYLE="width: 94%">Earned Value Management (EVM)</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left">The contractor shall provide EVM information.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 20.2pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%">6.5.</TD><TD STYLE="width: 94%">Project Communications</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left">The contractor shall provide for project communications
including communications with BARDA and external experts.</P>

<P STYLE="font-size: 10pt; text-indent: -0.5pt; margin: 0pt 34.45pt 0pt 19.15pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left">The contractor shall provide planning and steps required for the conduct
of contract review meetings.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 18.65pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 18.65pt"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt">Pursuant to
17 CFR 20.24b-2, confidential information has been omitted in places marked &quot;***&quot; and has been filed separately with
the Securities and Exchange Commission pursuant to a Confidential Treatment Request with the Commission.</FONT></P>




<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>
<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 12pt">7 &nbsp;&nbsp;&nbsp;REGULATORY</FONT></P>



<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left">The contractor shall ensure adherence to FDA regulations
and guidance, including requirements for the conduct of animal studies and assays under GLP, the manufacturing of the therapeutic
product under GMP, and the conduct of clinical trials under GCP standards.</P>

<P STYLE="font-size: 10pt; text-indent: -0.25pt; margin: 0pt 20.05pt 0pt 18.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%">7.1.</TD><TD STYLE="width: 94%">Regulatory Authority Interactions</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left">The contractor shall prepare and submit documentation
and correspondence to regulatory authorities as required. The contractor shall request and conduct meetings with regulatory authorities
to ensure the development program is conducted in accordance with regulatory guidelines and expectations.</P>

<P STYLE="font-size: 10pt; text-indent: 0.25pt; margin: 0pt 40.85pt 0pt 17.9pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%">7.2.</TD><TD STYLE="width: 94%">Quality Assurance</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left">The contractor shall maintain quality assurance
documentation. The contractor shall arrange for audits of subcontractor facilities to ensure all planned procedures comply with
the FDA regulations and guidance that are required to meet GLP, GMP and GCP standards. In addition, the contractor shall ensure
that all contractor and/or subcontractor records and staff are available for site visits or audits.</P>

<P STYLE="font-size: 10pt; text-indent: -0.25pt; margin: 0pt 22.7pt 0pt 18.15pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%">7.3.</TD><TD STYLE="width: 94%">Expert Collaborations</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt; text-align: left">The contractor shall collaborate with experts in the
field in the design of experiments and studies that support the advancement of the development program.</P>

<P STYLE="font-size: 10pt; text-indent: -0.25pt; margin: 0pt 0 0pt 17.95pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: -0.25pt; margin: 0pt 0 0pt 17.95pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: -0.25pt; margin: 0pt 0 0pt 17.95pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: -0.25pt; margin: 0pt 0 0pt 17.95pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: -0.25pt; margin: 0pt 0 0pt 17.95pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: -0.25pt; margin: 0pt 0 0pt 17.95pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: -0.25pt; margin: 0pt 0 0pt 17.95pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: -0.25pt; margin: 0pt 0 0pt 17.95pt"></P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 8pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --> of 20</TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>HHS0100201500007C</TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>November 3, 2017 </TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt">Pursuant to
17 CFR 20.24b-2, confidential information has been omitted in places marked &quot;***&quot; and has been filed separately with
the Securities and Exchange Commission pursuant to a Confidential Treatment Request with the Commission.</FONT></P>




<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>
<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 38.8pt 0pt 53.8pt; color: #2F3131"><FONT STYLE="font-size: 12pt"><B>MILESTONE
AND DELIVERABLES CHART</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 40.5pt 0pt 53.8pt; color: #2F3131"><FONT STYLE="font-size: 12pt"><B>BioCryst
Pharmaceuticals Contract HHS0100201500007C</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 40.5pt 0pt 53.8pt; color: #2F3131">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 40.5pt 0pt 53.8pt; color: #2F3131"></P>

<TABLE BORDER="0" CELLPADDING="3" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 14%; border-bottom: #95B3D7 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>WBS</B></FONT></TD>
    <TD STYLE="width: 18%; border-bottom: #95B3D7 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Milestone</B></FONT></TD>
    <TD STYLE="width: 23%; border-bottom: #95B3D7 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Deliverable</B></FONT></TD>
    <TD STYLE="width: 13%; border-bottom: #95B3D7 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Success Criteria</B></FONT></TD>
    <TD STYLE="width: 14%; border-bottom: #95B3D7 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Timing</B></FONT></TD>
    <TD STYLE="width: 18%; border-bottom: #95B3D7 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Go/No-go </B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>for initiation</B></FONT></TD></TR>
<TR STYLE="background-color: #DBE5F1">
    <TD COLSPAN="6" STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>CLIN 0001 &ndash; MANUFACTURE OF CLINICAL TRIAL MATERIAL</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.2.1</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Process Improvements Report</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Report on Process Development</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Process Developed</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>1.2.2</B></FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Determination of sufficient Process for Commercial Scale up</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Evaluation Report</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">BARDA approval of developed process</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.3.1</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Manufacture of *&nbsp;*&nbsp;* (Batch *&nbsp;*&nbsp;* )</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Acceptable quality and yield</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.3.2</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Manufacture of *&nbsp;*&nbsp;* (Batch *&nbsp;*&nbsp;* )</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Acceptable quality and yield</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.3.3</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Manufacture of *&nbsp;*&nbsp;* (Batch *&nbsp;*&nbsp;* )</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Acceptable quality and yield</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.4.1</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Manufacture of GMP BCX4430 (DS Batch *&nbsp;*&nbsp;* )</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">BCX4430 DS CofA</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Acceptable quality and yield</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.4.2</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Manufacture of GMP BCX4430 (DS Batch *&nbsp;*&nbsp;* )</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">BCX4430 DS CofA</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Acceptable quality and yield</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.4.3</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Drug Substance Stability Study</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Report on stability activities</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Stability Data</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.5</FONT></TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Drug Product Development</FONT></TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">DP Process Development Report (WBS 1.5.4)</FONT></TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Completion of studies</FONT></TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Pre-formulation and Physicochemical Report (WBS 1.5.5)</FONT></TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Extractable/Leachable Report (WBS 1.5.7)</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.5.8</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Excipient Compatibility Report for IV Formulation</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Compatibility Report</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">IV Formulation Completed</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.6.1</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Manufacture GMP DP (DP Batch *&nbsp;*&nbsp;* )</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">BCX4430 DP, CofA</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Acceptable quality and yield</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Accepted GMP DS</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.6.2</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Prepare a Campaign</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Campaign Summary Report (DP Batch *&nbsp;*&nbsp;* )</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Completion of DP Campaigns</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
</TABLE>


<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 40.5pt 0pt 53.8pt; color: #2F3131"></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 40.5pt 0pt 53.8pt; color: #2F3131">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 40.5pt 0pt 53.8pt; color: #2F3131">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B></B></P>



<P STYLE="font-size: 10pt; margin: 0pt 0"><B></B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt">Pursuant to
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the Securities and Exchange Commission pursuant to a Confidential Treatment Request with the Commission.</FONT></P>




<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>
<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

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<TABLE BORDER="0" CELLPADDING="3" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 14%; border-bottom: #95B3D7 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>WBS</B></FONT></TD>
    <TD STYLE="width: 18%; border-bottom: #95B3D7 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Milestone</B></FONT></TD>
    <TD STYLE="width: 23%; border-bottom: #95B3D7 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Deliverable</B></FONT></TD>
    <TD STYLE="width: 13%; border-bottom: #95B3D7 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Success Criteria</B></FONT></TD>
    <TD STYLE="width: 14%; border-bottom: #95B3D7 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Timing</B></FONT></TD>
    <TD STYLE="width: 18%; border-bottom: #95B3D7 1.5pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 10.6pt 0pt 26.65pt; text-align: center; text-indent: -16.1pt"><B>Go/No-go
        for</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.5pt; text-align: center"><B>initiation</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Summary Report</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.6.3</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Drug Product Stability Study - Active</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Report of Stability Activities</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Stability Data</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.6.4</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Comparability Study</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center; text-indent: 13.9pt"><FONT STYLE="font-size: 10pt">Comparability Protocol and Report</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Completion of DS and DP Campaigns</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.7.1</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 10.65pt 0pt 10.05pt; text-align: center; text-indent: -0.3pt">Manufacture
        of GMP BCX4430</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7.55pt 0pt 6.95pt; text-align: center">(DS Batch *&nbsp;*&nbsp;*
        )</P></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">BCX4430 DS, CofA</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Acceptable DS process</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.7.2</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Prepare a</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.2pt 0pt 6.35pt; text-align: center; text-indent: 15.1pt">Campaign
        Summary Report</P></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; padding-left: 6.7pt; text-align: center"><FONT STYLE="font-size: 10pt">Campaign Summary Report (DS Batch *&nbsp;*&nbsp;* )</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center; text-indent: 0.2pt"><FONT STYLE="font-size: 10pt">Completion of DS Campaign</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>1.7.3</B></FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 23.95pt 0pt 5.25pt; text-align: center">*&nbsp;*&nbsp;* DS Analytical
        Method Development</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.25pt; text-align: center">and Validation</P></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Validation Report</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Suitable assay method</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>1.7.4</B></FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.25pt; text-align: center">*&nbsp;*&nbsp;* DS &ndash; Manufacture</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 14.5pt 0pt 5.25pt; text-align: center">*&nbsp;*&nbsp;* of Non-
        GMP BCX4430</P></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">BCX4430 DS</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center; text-indent: 11.25pt"><FONT STYLE="font-size: 10pt">Acceptable quality and yield</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>1.7.5</B></FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.25pt; text-align: center">*&nbsp;*&nbsp;* DS &ndash; Manufacture</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.25pt 0pt 5.25pt; text-align: center">*&nbsp;*&nbsp;* of GMP
        BCX4430</P></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">BCX4430 DS, CofA</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center; text-indent: 11.25pt"><FONT STYLE="font-size: 10pt">Acceptable quality and yield</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.7.6</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; padding-left: 5.95pt; text-align: center"><FONT STYLE="font-size: 10pt">Manufacture GMP DP (*&nbsp;*&nbsp;* )</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">BCX4430 DP CofA</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center; text-indent: 12.35pt"><FONT STYLE="font-size: 10pt">Acceptable Quality and yield</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Accepted GMP DS</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.7.7</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7.6pt 0pt 6.95pt; text-align: center">Prepare a Campaign</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6pt 0pt 5.15pt; text-align: center">Summary Report</P></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center; text-indent: 3.35pt"><FONT STYLE="font-size: 10pt">Campaign Summary Report (CTM Batch *&nbsp;*&nbsp;* )</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center; text-indent: 0.2pt"><FONT STYLE="font-size: 10pt">Completion of DS Campaign</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.7.8</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center; text-indent: 1.4pt"><FONT STYLE="font-size: 10pt">Drug Product Stability study</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Report on Stability Activities</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Stability Data</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; padding-left: 4.85pt; text-align: center"><FONT STYLE="font-size: 10pt">Manufacture of 1.7.1 &amp; 1.7.2 DS and 1.7.4 DP</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.7.9</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Comparability Study</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center; text-indent: 13.9pt"><FONT STYLE="font-size: 10pt">Comparability Protocol and Report</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Comparable DS and DP profiles</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">1.8</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; padding-left: 13.9pt; text-align: center; text-indent: 0.8pt"><FONT STYLE="font-size: 10pt">Drug Product *&nbsp;*&nbsp;* formulation Development</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; padding-left: 10.55pt; text-align: center; text-indent: -0.05pt"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* Process that can be scaled to a manufacturing facility</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; padding-left: 5.25pt; text-align: center; text-indent: -0.05pt"><FONT STYLE="font-size: 10pt">Suitable *&nbsp;*&nbsp;* /Finalized process</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD COLSPAN="6" STYLE="border-bottom: #95B3D7 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 17.35pt 0pt 17.3pt; text-align: center"><B>CLIN 0002 &ndash; COMMERCIAL
        SCALE UP AND NDA REGISTRATION BATCHES</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 17.35pt 0pt 17.3pt; text-align: center">Go/No Go Criteria to Initiate:
        WBS 1.2.2 BARDA approval of process developed</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">2.2</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Drug Substance Process Scale-</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Process Development Report (WBS 2.2.4)</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Selection of the optimized</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
</TABLE>


<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>



<P STYLE="font-size: 10pt; margin: 0pt 0"><B></B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt">Pursuant to
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<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>
<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="3" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 14%; border-bottom: #95B3D7 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>WBS</B></FONT></TD>
    <TD STYLE="width: 18%; border-bottom: #95B3D7 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Milestone</B></FONT></TD>
    <TD STYLE="width: 23%; border-bottom: #95B3D7 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Deliverable</B></FONT></TD>
    <TD STYLE="width: 13%; border-bottom: #95B3D7 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Success Criteria</B></FONT></TD>
    <TD STYLE="width: 14%; border-bottom: #95B3D7 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Timing</B></FONT></TD>
    <TD STYLE="width: 18%; border-bottom: #95B3D7 1.5pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 10.6pt 0pt 26.65pt; text-align: center; text-indent: -16.1pt"><B>Go/No-go
        for</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.5pt; text-align: center"><B>initiation</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Up</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">manufacturing process</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">2.3.1</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.5pt 0pt 12.8pt; text-align: center; text-indent: -0.05pt">Manufacture
        BCX4430 (DS</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 18.55pt 0pt 17.85pt; text-align: center">Registration Batch *&nbsp;*&nbsp;*
        )</P></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">BCX4430 Registration DS, CofA</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center; text-indent: 11.25pt"><FONT STYLE="font-size: 10pt">Acceptable quality and yield</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center; text-indent: 0.8pt"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">2.3.2</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.5pt 0pt 12.8pt; text-align: center; text-indent: -0.05pt">Manufacture
        BCX4430 (DS</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 18.55pt 0pt 17.85pt; text-align: center">Registration Batch *&nbsp;*&nbsp;*
        )</P></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">BCX4430 Registration DS, CofA</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center; text-indent: 11.25pt"><FONT STYLE="font-size: 10pt">Acceptable quality and yield</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center; text-indent: 0.6pt"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">2.3.3</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.5pt 0pt 12.8pt; text-align: center; text-indent: -0.05pt">Manufacture
        BCX4430 (DS</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 18.55pt 0pt 17.85pt; text-align: center">Registration Batch *&nbsp;*&nbsp;*
        )</P></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">BCX4430 Registration DS, CofA</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center; text-indent: 11.25pt"><FONT STYLE="font-size: 10pt">Acceptable quality and yield</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center; text-indent: 0.6pt"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">2.3.4</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7.6pt 0pt 6.95pt; text-align: center">Prepare a Campaign</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6pt 0pt 5.15pt; text-align: center">Summary Report</P></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; padding-left: 6.75pt; text-align: center"><FONT STYLE="font-size: 10pt">Campaign Summary Report (DS Batches *&nbsp;*&nbsp;* )</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center; text-indent: 0.2pt"><FONT STYLE="font-size: 10pt">Completion of DS Campaign</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">2.4.1</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15.05pt 0pt 14.5pt; text-align: center; text-indent: -0.15pt">Manufacture
        BCX4430 DP</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6pt 0pt 5.25pt; text-align: center">(DP Registration Batch *&nbsp;*&nbsp;*
        )</P></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">BCX4430 DP CofA</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center; text-indent: 11.25pt"><FONT STYLE="font-size: 10pt">Acceptable quality and yield</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Accepted GMP DS</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">2.4.2</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15.05pt 0pt 14.5pt; text-align: center; text-indent: -0.2pt">Manufacture
        BCX4430 DP</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6pt 0pt 5.25pt; text-align: center">(DP Registration Batch *&nbsp;*&nbsp;*
        )</P></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">BCX4430 DP CofA</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center; text-indent: 11.25pt"><FONT STYLE="font-size: 10pt">Acceptable quality and yield</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Accepted GMP DS</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">2.4.3</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15.05pt 0pt 14.5pt; text-align: center; text-indent: -0.15pt">Manufacture
        BCX4430 DP</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6pt 0pt 5.25pt; text-align: center">(DP Registration Batch *&nbsp;*&nbsp;*
        )</P></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">BCX4430 DP CofA</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center; text-indent: 11.25pt"><FONT STYLE="font-size: 10pt">Acceptable quality and yield</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Accepted GMP DS</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">2.4.4</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center; text-indent: 0.25pt"><FONT STYLE="font-size: 10pt">Prepare a Campaign Summary Report</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; padding-left: 8.6pt; text-align: center; text-indent: 0.5pt"><FONT STYLE="font-size: 10pt">Campaign Summary Report (CTM Registration Batches *&nbsp;*&nbsp;* )</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center; text-indent: 0.2pt"><FONT STYLE="font-size: 10pt">Completion of DS Campaign</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">2.5</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.6pt 0pt 8.15pt; text-align: center; text-indent: -0.2pt">Drug
        Substance and Drug</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7.4pt 0pt 6.95pt; text-align: center">Product Stability Study</P></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Report on stability activities</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Stability Data</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">2.6</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Comparability Study</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center; text-indent: 13.9pt"><FONT STYLE="font-size: 10pt">Comparability Protocol and Report</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Comparable DS and DP profiles</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Accepted GMP DS</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD COLSPAN="6" STYLE="border-bottom: #95B3D7 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CLIN 003 &ndash; NONCLINICAL NDA-ENABLING
        TOXICOLOGY</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 17.4pt 0pt 17.3pt; text-align: center"><B>Go/No-go Criteria to
        Initiate: Availability of </B>*&nbsp;*&nbsp;* <B>of GMP batch of DS manufactured under NIAID contract HHSO100201500007C</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">3.1.1</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Complete GLP *&nbsp;*&nbsp;* Tox Study - *&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Study Report</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Establish NOAEL</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; padding-left: 10.1pt; text-align: center; text-indent: -0.15pt"><FONT STYLE="font-size: 10pt">Drug Substance confirming to release criteria</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">3.1.2</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Complete GLP *&nbsp;*&nbsp;* Tox Study - *&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Study Report</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Establish NOAEL</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Drug Substance confirming to release</FONT></TD></TR>
</TABLE>


<P STYLE="font-size: 10pt; margin: 0pt 0"><B></B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>



<P STYLE="font-size: 10pt; margin: 0pt 0"><B></B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B></B></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt">Pursuant to
17 CFR 20.24b-2, confidential information has been omitted in places marked &quot;***&quot; and has been filed separately with
the Securities and Exchange Commission pursuant to a Confidential Treatment Request with the Commission.</FONT></P>




<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>
<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="3" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 14%; border-bottom: #95B3D7 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>WBS</B></FONT></TD>
    <TD STYLE="width: 18%; border-bottom: #95B3D7 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Milestone</B></FONT></TD>
    <TD STYLE="width: 23%; border-bottom: #95B3D7 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Deliverable</B></FONT></TD>
    <TD STYLE="width: 13%; border-bottom: #95B3D7 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Success Criteria</B></FONT></TD>
    <TD STYLE="width: 14%; border-bottom: #95B3D7 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Timing</B></FONT></TD>
    <TD STYLE="width: 18%; border-bottom: #95B3D7 1.5pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 10.6pt 0pt 26.65pt; text-align: center; text-indent: -16.1pt"><B>Go/No-go
        for</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.5pt; text-align: center"><B>initiation</B></P></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">criteria</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">3.2.1</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7.8pt 0pt 7.15pt; text-align: center; text-indent: 0.95pt">Conduct
        *&nbsp;*&nbsp;* Assessment in</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6.95pt; text-align: center; text-indent: 0.2pt">*&nbsp;*&nbsp;*</P></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Study Report</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">No significant findings</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">3.2.2</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; padding-left: 5.25pt; text-align: center; text-indent: -0.05pt"><FONT STYLE="font-size: 10pt">Conduct *&nbsp;*&nbsp;* Dose Range Finding Studies in *&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Study Report</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">No significant findings</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">3.2.3</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; padding-left: 5.25pt; text-align: center"><FONT STYLE="font-size: 10pt">Conduct Definitive *&nbsp;*&nbsp;* Development Studies in *&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Study Report</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">No significant findings</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">3.2.4</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 14.85pt 0pt 14.25pt; text-align: center; text-indent: -0.15pt">Conduct
        *&nbsp;*&nbsp;* Toxicology</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7.7pt 0pt 6.8pt; text-align: center">*&nbsp;*&nbsp;*</P></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Study Report</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">No significant findings</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">3.3.1</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; padding-left: 13.4pt; text-align: center; text-indent: -0.1pt"><FONT STYLE="font-size: 10pt">Conduct Radiolabeled ADME study - *&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Study Report</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Characterize drug disposition</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Acceptable Radiolabel Material</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">3.3.2</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; padding-left: 12.2pt; text-align: center; text-indent: -0.05pt"><FONT STYLE="font-size: 10pt">Conduct Radiolabeled ADME study &ndash; *&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Study Report</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Characterize drug disposition</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Acceptable Radiolabel Material</FONT></TD></TR>
</TABLE>


<P STYLE="font-size: 10pt; margin: 0pt 0"><B></B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B>&nbsp;</B></P>



<P STYLE="font-size: 10pt; margin: 0pt 0"><B></B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><B></B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 64.55pt 0pt 53.75pt"><B>CLIN 0004 &ndash; IN VITRO EXPERIMENTS &ndash;
IV</B>&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 64.55pt 0pt 53.8pt"><B>Go/No Go to Initiate: Selection of an appropriate
preliminary IV formulation</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 64.55pt 0pt 53.8pt"><B></B></P>

<TABLE BORDER="0" CELLPADDING="3" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="width: 14%; border-top: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">4.1</FONT></TD>
    <TD STYLE="width: 18%; border-top: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.65pt 0pt 5.95pt; text-align: center">Conduct *&nbsp;*&nbsp;*
        Test</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7.7pt 0pt 6.9pt; text-align: center">- IV</P></TD>
    <TD STYLE="width: 23%; border-top: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Study Report</FONT></TD>
    <TD STYLE="width: 13%; border-top: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; padding-left: 7.75pt; text-align: center; text-indent: 0.15pt"><FONT STYLE="font-size: 10pt">No effect on *&nbsp;*&nbsp;* ex-vivo</FONT></TD>
    <TD STYLE="width: 14%; border-top: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="width: 18%; border-top: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; padding-left: 4.85pt; text-align: center"><FONT STYLE="font-size: 10pt">IV formulation WBS 1.5.8</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">4.2</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15.55pt 0pt 14.75pt; text-align: center; text-indent: 0.05pt">Conduct
        *&nbsp;*&nbsp;*</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7.65pt 0pt 6.95pt; text-align: center">Test IV</P></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Study Report</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">No effect on mitotic apparatus</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">4.3</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">In Vitro IV experiments</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Study report on all In Vitro assays with recommendation to proceed to CLIN005</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">No toxicology in vitro</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 64.55pt 0pt 53.8pt"><B>&nbsp;</B></P>


<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 64.45pt 0pt 53.8pt"><B>CLIN 0005 NONCLINICAL NDA-ENABLING TOXICOLOGY</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 64.55pt 0pt 53.7pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 64.55pt 0pt 53.7pt; text-align: center"><B>Go/No-Go to Initiate:
WBS 4.3 Completion of </B>*&nbsp;*&nbsp;* <B>IV toxicology studies</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 64.55pt 0pt 53.7pt; text-align: center"><B></B></P>

<TABLE BORDER="0" CELLPADDING="3" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="width: 14%; border-top: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">5.1.1</FONT></TD>
    <TD STYLE="width: 18%; border-top: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Complete GLP *&nbsp;*&nbsp;* Tox</FONT></TD>
    <TD STYLE="width: 23%; border-top: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Study Report</FONT></TD>
    <TD STYLE="width: 13%; border-top: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Establish NOAEL</FONT></TD>
    <TD STYLE="width: 14%; border-top: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="width: 18%; border-top: #95B3D7 1pt solid; border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Drug Substance</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 64.55pt 0pt 53.7pt; text-align: center"><B>&nbsp;</B></P>



<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 64.55pt 0pt 53.7pt"></P>



<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 64.55pt 0pt 53.7pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 64.55pt 0pt 53.7pt"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt">&nbsp;</DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt">Pursuant to
17 CFR 20.24b-2, confidential information has been omitted in places marked &quot;***&quot; and has been filed separately with
the Securities and Exchange Commission pursuant to a Confidential Treatment Request with the Commission.</FONT></P>




<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>
<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="3" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 14%; border-bottom: #95B3D7 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>WBS</B></FONT></TD>
    <TD STYLE="width: 18%; border-bottom: #95B3D7 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Milestone</B></FONT></TD>
    <TD STYLE="width: 23%; border-bottom: #95B3D7 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Deliverable</B></FONT></TD>
    <TD STYLE="width: 13%; border-bottom: #95B3D7 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Success Criteria</B></FONT></TD>
    <TD STYLE="width: 14%; border-bottom: #95B3D7 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Timing</B></FONT></TD>
    <TD STYLE="width: 18%; border-bottom: #95B3D7 1.5pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 10.6pt 0pt 26.65pt; text-align: center; text-indent: -16.1pt"><B>Go/No-go
        for</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.5pt; text-align: center"><B>initiation</B></P></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Study - *&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Confirming to release criteria</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">5.1.2</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Complete GLP *&nbsp;*&nbsp;* Tox Study - *&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Study Report</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Establish NOAEL</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; padding-left: 9.5pt; text-align: center; text-indent: -0.15pt"><FONT STYLE="font-size: 10pt">Drug Substance Confirming to release criteria</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">5.2.1</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Conduct *&nbsp;*&nbsp;* Assessment in *&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Study Report</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">No significant findings</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">5.2.2</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Conduct *&nbsp;*&nbsp;* Dose Range Finding Studies in *&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Study Report</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">No significant findings</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #DBE5F1">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">5.2.3</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Conduct Definitive *&nbsp;*&nbsp;* &nbsp;Studies in *&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Study Report</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">No significant findings</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">5.2.4</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Conduct *&nbsp;*&nbsp;* Toxicology *&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Study Report</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">No significant findings</FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; border-right: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">*&nbsp;*&nbsp;* </FONT></TD>
    <TD STYLE="border-bottom: #95B3D7 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD></TR>
</TABLE>


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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 64.55pt 0pt 53.7pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 64.55pt 0pt 53.7pt"></P>





<P STYLE="font-size: 10pt; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"><FONT STYLE="font-size: 8pt">*Timing
will depend on approval of additional CLIN1 funds/IPR approval to</FONT></P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 11pt">&nbsp;</P>



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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-21
<SEQUENCE>3
<FILENAME>exh_21.htm
<DESCRIPTION>EXHIBIT 21
<TEXT>
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<P STYLE="margin: 0"></P>

<P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0"><B>Exhibit 21</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 24pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 24pt"><B>Subsidiaries of the Registrant</B></P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR>
    <TD STYLE="vertical-align: top; width: 8%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 38%; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Subsidiary</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 45%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Jurisdiction of</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Incorporation</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 8%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">JPR Royalty Sub LLC</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Delaware</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">MDCP, LLC</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Delaware</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
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<DOCUMENT>
<TYPE>EX-23
<SEQUENCE>4
<FILENAME>exh_23.htm
<DESCRIPTION>EXHIBIT 23
<TEXT>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 23</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Consent of Independent Registered Public
Accounting Firm</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">We consent to the incorporation by reference in the following Registration
Statements:</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Registration Statements (Form&nbsp;S-8 Nos.&nbsp;&nbsp;333-120345, 333-39484 and 333-30751) pertaining
to the BioCryst Pharmaceuticals, Inc. 1991 Stock Option Plan, as amended and restated as of March&nbsp;8, 2004;</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Registration Statement (Form&nbsp;S-8 No.&nbsp;333-90582) pertaining to the BioCryst Pharmaceuticals,
Inc. Employee Stock Purchase Plan;</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Registration Statement (Form&nbsp;S-8 No.&nbsp;333-136703) pertaining to the BioCryst Pharmaceuticals,
Inc. Stock Incentive Plan, which amended and restated the BioCryst Pharmaceuticals, Inc. 1991 Stock Option Plan as of May&nbsp;17,
2006;</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Registration Statement (Form&nbsp;S-3 No.&nbsp;333-145638) pertaining to the registration of up
to 8,140,000&nbsp;shares of common stock;</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Registration Statement (Form&nbsp;S-8 No.&nbsp;333-145627) pertaining to the BioCryst Pharmaceuticals,
Inc. Stock Incentive Plan as amended and restated effective March 2007 and Employment Letter Agreement dated April&nbsp;2, 2007
between BioCryst Pharmaceuticals, Inc. and David McCullough;</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Registration Statement (Form&nbsp;S-3 No.&nbsp;333-153084) for the registration of 3,335,408&nbsp;shares
of BioCryst Pharmaceuticals, Inc. common stock and 3,159,895 warrants to purchase common stock of BioCryst Pharmaceuticals, Inc.;&nbsp;</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Registration Statement (Form S-8 No. 333-152570) pertaining to the Biocryst Pharmaceuticals, Inc.
Stock Incentive Plan, as amended and restated effective February 27, 2008 and the BioCryst Pharmaceuticals, Inc. Employee Stock
Purchase Plan, as amended and restated effective February 27, 2008;</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Registration Statement (Form&nbsp;S-8 No.&nbsp;333-167830) pertaining to the BioCryst Pharmaceuticals,
Inc. Stock Incentive Plan, as amended and restated effective March&nbsp;31, 2010 and the BioCryst Pharmaceuticals, Inc. Employee
Stock Purchase Plan, as amended and restated effective March&nbsp;31, 2010;</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="padding-right: 0.8pt">Registration statement (Form S-8 No. 333-176096) pertaining to the Biocryst Pharmaceuticals, Inc.
Stock Incentive Plan, as amended and restated effective February 17, 2011;</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0.8pt 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="padding-right: 0.8pt">Registration Statement (Form S-8 No. 333-187193) pertaining to the BioCryst Pharmaceuticals, Inc.
Stock Incentive Plan and Employee Stock Purchase Plan, each as amended and restated effective March 29, 2012;</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="padding-right: 0.8pt">Registration Statement (Form S-8 No. 333-195869) pertaining to the BioCryst Pharmaceuticals, Inc.
Stock Incentive Plan and Employee Stock Purchase Plan, each as amended and restated effective March 8, 2014;</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0.8pt 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Registration Statement (Form S-8 No. 333- 211529) pertaining to the BioCryst Pharmaceuticals, Inc. Stock Incentive Plan as
amended and restated effective May 23, 2016</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Registration Statement (Form S-8 No. 333-218360) pertaining to the BioCryst Pharmaceuticals, Inc. Stock Incentive Plan as amended
and restated effective May 30, 2017;</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Registration Statement (Form S-3 No. 333-217859) for the registration of 11,710,951 shares of BioCryst Pharmaceuticals, Inc.
common stock; and</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Registration Statement (Form S-3 No. 333-221421) for the registration of up to $200 million of BioCryst Pharmaceuticals, Inc.
common stock, preferred stock, depository shares, stock purchase contracts, warrants or units;</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">of our reports dated March 9, 2018 with respect to the consolidated financial statements
of BioCryst Pharmaceuticals, Inc. and the effectiveness of internal control over financial reporting of BioCryst Pharmaceuticals,
Inc. included in this Annual Report (Form&nbsp;10-K) of BioCryst Pharmaceuticals, Inc. for the year ended December&nbsp;31, 2017.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: left; margin: 0pt 0">/s/ Ernst &amp; Young LLP</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Raleigh, North Carolina</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">March 12, 2018</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>



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<DOCUMENT>
<TYPE>EX-31.1
<SEQUENCE>5
<FILENAME>exh_311.htm
<DESCRIPTION>EXHIBIT 31.1
<TEXT>
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<P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0"><B>Exhibit&nbsp;31.1</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 24pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 24pt"><B>CERTIFICATIONS</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 24pt"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 12pt">I, Jon P. Stonehouse, certify that:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 12pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 6pt">1.&nbsp;I have reviewed this annual report on Form&nbsp;10-K
of BioCryst Pharmaceuticals, Inc.;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 6pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 6pt">2.&nbsp;Based on my knowledge, this report does not contain
any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the
circumstances under which such statements were made, not misleading with respect to the period covered by this report;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 6pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 6pt">3.&nbsp;Based on my knowledge, the financial statements, and
other financial information included in this report, fairly present in all material respects the financial condition, results of
operations and cash flows of the registrant as of, and for, the periods presented in this report;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 6pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 6pt">4.&nbsp;The registrant&rsquo;s other certifying officer(s)
and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules&nbsp;13a-15(e)
and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules&nbsp;13a-15(f) and 15d-15(f) for
the registrant and have:</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 6pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 23pt">a)&nbsp;designed such disclosure controls and procedures,
or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating
to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during
the period in which this report is being prepared;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 23pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 23pt">b)&nbsp;designed such internal control over financial reporting,
or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance
regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance
with generally accepted accounting principles;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 23pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 23pt">c)&nbsp;evaluated the effectiveness of the registrant&rsquo;s
disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls
and procedures, as of the end of the period covered by this report based on such evaluation;&nbsp;and</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 23pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 23pt">d)&nbsp;disclosed in this report any change in the registrant&rsquo;s
internal control over financial reporting that occurred during the registrant&rsquo;s most recent fiscal quarter (the registrant&rsquo;s
fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect,
the registrant&rsquo;s internal control over financial reporting;&nbsp;and</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 23pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 6pt">5.&nbsp;The registrant&rsquo;s other certifying officer(s)
and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&rsquo;s
auditors and the audit committee of the registrant&rsquo;s board of directors (or persons performing the equivalent functions):</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 6pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 23pt">a)&nbsp;all significant deficiencies and material weaknesses
in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant&rsquo;s
ability to record, process, summarize and report financial information;&nbsp;and</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 23pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 23pt">b)&nbsp;any fraud, whether or not material, that involves
management or other employees who have a significant role in the registrant&rsquo;s internal control over financial reporting.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36%">&nbsp;</TD>
    <TD STYLE="width: 43%">&nbsp;</TD>
    <TD STYLE="width: 21%; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">/s/&nbsp;Jon P. Stonehouse</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Jon P. Stonehouse</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Date: March 12, 2018</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-31.2
<SEQUENCE>6
<FILENAME>exh_312.htm
<DESCRIPTION>EXHIBIT 31.2
<TEXT>
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<P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0"><B>Exhibit&nbsp;31.2</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 24pt"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 24pt"><B>CERTIFICATIONS</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 24pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 12pt">I, Thomas R. Staab II, certify that:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 12pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 6pt">1.&nbsp;I have reviewed this annual report on Form&nbsp;10-K
of BioCryst Pharmaceuticals, Inc.;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 6pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 6pt">2.&nbsp;Based on my knowledge, this report does not contain
any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the
circumstances under which such statements were made, not misleading with respect to the period covered by this report;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 6pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 6pt">3.&nbsp;Based on my knowledge, the financial statements, and
other financial information included in this report, fairly present in all material respects the financial condition, results of
operations and cash flows of the registrant as of, and for, the periods presented in this report;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 6pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 6pt">4.&nbsp;The registrant&rsquo;s other certifying officer(s)
and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules&nbsp;13a-15(e)
and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules&nbsp;13a-15(f) and 15d-15(f) for
the registrant and have:</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 6pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 23pt">a.&nbsp;designed such disclosure controls and procedures,
or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating
to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during
the period in which this report is being prepared;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 23pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 23pt">b.&nbsp;designed such internal control over financial reporting,
or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance
regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance
with generally accepted accounting principles;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 23pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 23pt">c.&nbsp;evaluated the effectiveness of the registrant&rsquo;s
disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls
and procedures, as of the end of the period covered by this report based on such evaluation;&nbsp;and</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 23pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 23pt">d.&nbsp;disclosed in this report any change in the registrant&rsquo;s
internal control over financial reporting that occurred during the registrant&rsquo;s most recent fiscal quarter (the registrant&rsquo;s
fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect,
the registrant&rsquo;s internal control over financial reporting;&nbsp;and</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 23pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 6pt">5.&nbsp;The registrant&rsquo;s other certifying officer(s)
and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&rsquo;s
auditors and the audit committee of the registrant&rsquo;s board of directors (or persons performing the equivalent functions):</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 6pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 23pt">a.&nbsp;all significant deficiencies and material weaknesses
in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant&rsquo;s
ability to record, process, summarize and report financial information;&nbsp;and</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 23pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 23pt">b.&nbsp;any fraud, whether or not material, that involves
management or other employees who have a significant role in the registrant&rsquo;s internal control over financial reporting.</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 31%">&nbsp;</TD>
    <TD STYLE="width: 39%">&nbsp;</TD>
    <TD STYLE="width: 30%; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">/s/&nbsp;Thomas R. Staab II</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Thomas R. Staab II</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Chief Financial Officer and Treasurer</FONT><BR>
<FONT STYLE="font-size: 10pt">(Principal Financial Officer)</FONT></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 0.25in">Date: March 12, 2018</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-32.1
<SEQUENCE>7
<FILENAME>exh_321.htm
<DESCRIPTION>EXHIBIT 32.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0"><B>Exhibit&nbsp;32.1</B></P>

<P STYLE="font-size: 10pt; text-align: right; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>CERTIFICATION PURSUANT TO</B> &nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>18&nbsp;U.S.C. SECTION&nbsp;1350,</B> &nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>AS ADOPTED PURSUANT TO</B> &nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>SECTION&nbsp;906 OF THE SARBANES-OXLEY ACT OF 2002</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">In connection with the Annual Report of BioCryst Pharmaceuticals,
Inc. (the &ldquo;Company&rdquo;) on Form&nbsp;10-K for the period ending December&nbsp;31, 2017 as filed with the Securities and
Exchange Commission on the date hereof (the &ldquo;Report&rdquo;),&nbsp;I, Jon P. Stonehouse, Chief Executive Officer of the Company,
certify, pursuant to 18&nbsp;U.S.C. &sect;&nbsp;1350, as adopted pursuant to &sect;&nbsp;906 of the Sarbanes-Oxley Act of 2002,
that, to the best of my knowledge:</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 23pt">(1)&nbsp;The Report fully complies with the requirements
of section&nbsp;13(a) or 15(d) of the Securities Exchange Act of 1934;&nbsp;and</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 23pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 23pt">(2)&nbsp;The information contained in the Report fairly presents,
in all material respects, the financial condition and results of operations of the Company.</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 23pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt; border-collapse: collapse">
<TR>
    <TD STYLE="width: 78%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 22%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>
        <P STYLE="font-size: 10pt; margin: 0pt 0; border-bottom: black 1pt solid">/s/&nbsp;Jon P. Stonehouse</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>
        <P STYLE="font-size: 10pt; margin: 0pt 3.2pt 0pt 0">Jon P. Stonehouse</P>
        <P STYLE="font-size: 10pt; margin: 0pt 3.2pt 0pt 0">Chief Executive Officer</P>
        <P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 3.2pt 0pt 0">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">March 12, 2018</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">This certification is furnished with this Report on Form&nbsp;10-K
pursuant to Section&nbsp;906 of the Sarbanes-Oxley Act of 2002 and shall not, except to the extent required by such Act, be deemed
filed by the Company for purposes of Section&nbsp;18 of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;).
Such certification will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended,
or the Exchange Act, except to the extent that the Company specifically incorporates it by reference.</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-32.2
<SEQUENCE>8
<FILENAME>exh_322.htm
<DESCRIPTION>EXHIBIT 32.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font-size: 10pt; text-align: right; margin: 0pt 0"><B>Exhibit&nbsp;32.2</B></P>

<P STYLE="font-size: 10pt; text-align: right; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>CERTIFICATION PURSUANT TO</B> &nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>18&nbsp;U.S.C. SECTION&nbsp;1350,</B> &nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>AS ADOPTED PURSUANT TO&nbsp;</B></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>SECTION&nbsp;906 OF THE SARBANES-OXLEY ACT OF 2002</B></P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">In connection with the Annual Report of BioCryst Pharmaceuticals,
Inc. (the &ldquo;Company&rdquo;) on Form&nbsp;10-K for the period ending December&nbsp;31, 2017 as filed with the Securities and
Exchange Commission on the date hereof (the &ldquo;Report&rdquo;),&nbsp;I, Thomas R. Staab, II, Chief Financial Officer of the
Company, certify, pursuant to 18&nbsp;U.S.C. &sect;&nbsp;1350, as adopted pursuant to &sect;&nbsp;906 of the Sarbanes-Oxley Act
of 2002, that, to the best of my knowledge:</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 23pt">(1)&nbsp;The Report fully complies with the requirements
of section&nbsp;13(a) or 15(d) of the Securities Exchange Act of 1934;&nbsp;and</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 23pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 23pt">(2)&nbsp;The information contained in the Report fairly presents,
in all material respects, the financial condition and results of operations of the Company.</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0 0pt 23pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt; border-collapse: collapse">
<TR>
    <TD STYLE="width: 70%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 30%; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>
        <P STYLE="font-size: 10pt; margin: 0pt 0; border-bottom: black 1pt solid">/s/&nbsp;Thomas R. Staab II&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>
        <P STYLE="font-size: 10pt; margin: 0pt 3.2pt 0pt 0">Thomas R. Staab II&nbsp;</P>
        <P STYLE="font-size: 10pt; margin: 0pt 3.2pt 0pt 0">Chief Financial Officer and Treasurer&nbsp;</P>
        <P STYLE="font-size: 10pt; margin: 0pt 3.2pt 0pt 0">(Principal Financial Officer)</P>
        <P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 3.2pt 0pt 0">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font-size: 10pt; margin: 0pt 0">March 12, 2018</P>

<P STYLE="font-size: 10pt; text-indent: 0.5in; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">This certification is furnished with this Report on Form&nbsp;10-K
pursuant to Section&nbsp;906 of the Sarbanes-Oxley Act of 2002 and shall not, except to the extent required by such Act, be deemed
filed by the Company for purposes of Section&nbsp;18 of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;).
Such certification will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended,
or the Exchange Act, except to the extent that the Company specifically incorporates it by reference.</P>

<P STYLE="font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

</BODY>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.INS
<SEQUENCE>9
<FILENAME>bcrx-20171231.xml
<DESCRIPTION>XBRL INSTANCE FILE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
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  <link:schemaRef xlink:href="bcrx-20171231.xsd" xlink:type="simple"/>
  <bcrx:AccruedDevelopmentCosts contextRef="i_2017-12-31" decimals="-3" id="c27756128" unitRef="iso4217-usd">6683000</bcrx:AccruedDevelopmentCosts>
  <bcrx:AccruedDevelopmentCosts contextRef="i_2016-12-31" decimals="-3" id="c27756129" unitRef="iso4217-usd">7427000</bcrx:AccruedDevelopmentCosts>
  <bcrx:AccruedExpensesPolicyTextBlock contextRef="d_2017-01-01_2017-12-31" id="c27758325">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Accrued Expenses&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company generally enters into contractual agreements with &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt;-party vendors who provide research and development, manufacturing, and other services in the ordinary course of business. Some of these contracts are subject to milestone-based invoicing and services are completed over an extended period of time. The Company records liabilities under these contractual commitments when it determines an obligation has been incurred, regardless of the timing of the invoice. This process involves reviewing open contracts and purchase orders, communicating with applicable Company personnel to identify services that have been performed on its behalf and estimating the level of service performed and the associated cost incurred for the service when the Company has &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; yet been invoiced or otherwise notified of actual cost. The majority of service providers invoice the Company monthly in arrears for services performed. The Company makes estimates of accrued expenses as of each balance sheet date in its financial statements based on the facts and circumstances. The Company periodically confirms the accuracy of its estimates with the service providers and makes adjustments if necessary. Examples of estimated accrued expenses include:&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellspacing="0" cellpadding="0" style="; border-collapse: collapse; font-size: 10pt; min-width: 700px;"&gt; &lt;tr&gt; &lt;td style="width: 5%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top; width: 2%"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;#x2022;&lt;/div&gt;&lt;/td&gt; &lt;td style="vertical-align: top; width: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top; width: 91%"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;fees paid to Clinical Research Organizations (&amp;#x201c;CROs&amp;#x201d;) in connection with preclinical and toxicology studies and clinical trials;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;#x2022;&lt;/div&gt;&lt;/td&gt; &lt;td style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;fees paid to investigative sites in connection with clinical trials;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;#x2022;&lt;/div&gt;&lt;/td&gt; &lt;td style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;fees paid to contract manufacturers in connection with the production of the Company&amp;#x2019;s raw materials, drug substance and drug products;&amp;nbsp;and&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;#x2022;&lt;/div&gt;&lt;/td&gt; &lt;td style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="vertical-align: top"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;professional fees.&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company bases its expenses related to clinical trials on its estimates of the services received and efforts expended pursuant to contracts with multiple research institutions and CROs that conduct and manage clinical trials on the Company&amp;#x2019;s behalf. The financial terms of these agreements are subject to negotiation, vary from contract to contract and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;result in uneven payment flows. Payments under some of these contracts depend on factors such as the successful enrollment of patients and the completion of clinical trial milestones. In accruing service fees, the Company estimates the time period over which services will be performed and the level of effort expended in each period. If the actual timing of the performance of services or the level of effort varies from the estimate, the Company will adjust the accrual accordingly. As of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016, &lt;/div&gt;the carrying value of accrued expenses approximates their fair value due to their short-term settlement.&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: center; margin: 0pt 0"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"&gt;Accrued expenses were comprised of the following:&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 67%; font-size: 10pt; text-align: left"&gt;Compensation and benefits&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,905&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;425&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Development costs&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,683&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,427&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Inventory&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;705&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Professional fees&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;729&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;242&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Duties and taxes&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;148&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;56&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Other&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,234&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,981&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt"&gt;Total accrued expenses&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,699&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,836&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</bcrx:AccruedExpensesPolicyTextBlock>
  <bcrx:AccruedInventoryExpense contextRef="i_2017-12-31" id="c27756130" unitRef="iso4217-usd" xs:nil="true"/>
  <bcrx:AccruedInventoryExpense contextRef="i_2016-12-31" decimals="-3" id="c27756131" unitRef="iso4217-usd">705000</bcrx:AccruedInventoryExpense>
  <bcrx:AdvanceNoticePeriodForTerminationOfAgreement contextRef="d_2000-06-01_2000-06-30_TypeOfArrangementAxis-AECOMAndIRLMember" id="c27756806">P60D</bcrx:AdvanceNoticePeriodForTerminationOfAgreement>
  <bcrx:AmortizationOfDiscountAndPremiumOnInvestments contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c27755635" unitRef="iso4217-usd">157000</bcrx:AmortizationOfDiscountAndPremiumOnInvestments>
  <bcrx:AmortizationOfDiscountAndPremiumOnInvestments contextRef="d_2016-01-01_2016-12-31" decimals="-3" id="c27755636" unitRef="iso4217-usd">523000</bcrx:AmortizationOfDiscountAndPremiumOnInvestments>
  <bcrx:AmortizationOfDiscountAndPremiumOnInvestments contextRef="d_2015-01-01_2015-12-31" decimals="-3" id="c27755637" unitRef="iso4217-usd">570000</bcrx:AmortizationOfDiscountAndPremiumOnInvestments>
  <bcrx:AnnualLicenseFeeMaximum contextRef="i_2000-06-30_TypeOfArrangementAxis-AECOMAndIRLMember" decimals="-3" id="c27756805" unitRef="iso4217-usd">500000</bcrx:AnnualLicenseFeeMaximum>
  <bcrx:AnnualLicenseFeeMinimum contextRef="i_2000-06-30_TypeOfArrangementAxis-AECOMAndIRLMember" decimals="-3" id="c27756804" unitRef="iso4217-usd">150000</bcrx:AnnualLicenseFeeMinimum>
  <bcrx:AvailableForSaleSecuritiesAccruedInterest contextRef="i_2017-12-31_InvestmentTypeAxis-USGovernmentAgenciesDebtSecuritiesMember" decimals="-3" id="c27756046" unitRef="iso4217-usd">177000</bcrx:AvailableForSaleSecuritiesAccruedInterest>
  <bcrx:AvailableForSaleSecuritiesAccruedInterest contextRef="i_2017-12-31_InvestmentTypeAxis-CorporateDebtSecuritiesMember" decimals="-3" id="c27756051" unitRef="iso4217-usd">203000</bcrx:AvailableForSaleSecuritiesAccruedInterest>
  <bcrx:AvailableForSaleSecuritiesAccruedInterest contextRef="i_2017-12-31_InvestmentTypeAxis-CertificatesOfDepositMember" decimals="-3" id="c27756056" unitRef="iso4217-usd">32000</bcrx:AvailableForSaleSecuritiesAccruedInterest>
  <bcrx:AvailableForSaleSecuritiesAccruedInterest contextRef="i_2017-12-31" decimals="-3" id="c27756061" unitRef="iso4217-usd">412000</bcrx:AvailableForSaleSecuritiesAccruedInterest>
  <bcrx:AvailableForSaleSecuritiesAccruedInterest contextRef="i_2016-12-31_InvestmentTypeAxis-USGovernmentAgenciesDebtSecuritiesMember" decimals="-3" id="c27756066" unitRef="iso4217-usd">34000</bcrx:AvailableForSaleSecuritiesAccruedInterest>
  <bcrx:AvailableForSaleSecuritiesAccruedInterest contextRef="i_2016-12-31_InvestmentTypeAxis-CorporateDebtSecuritiesMember" decimals="-3" id="c27756071" unitRef="iso4217-usd">26000</bcrx:AvailableForSaleSecuritiesAccruedInterest>
  <bcrx:AvailableForSaleSecuritiesAccruedInterest contextRef="i_2016-12-31_InvestmentTypeAxis-CertificatesOfDepositMember" decimals="-3" id="c27756076" unitRef="iso4217-usd">17000</bcrx:AvailableForSaleSecuritiesAccruedInterest>
  <bcrx:AvailableForSaleSecuritiesAccruedInterest contextRef="i_2016-12-31" decimals="-3" id="c27756081" unitRef="iso4217-usd">77000</bcrx:AvailableForSaleSecuritiesAccruedInterest>
  <bcrx:AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsFairValue contextRef="i_2017-12-31" decimals="-3" id="c27756087" unitRef="iso4217-usd">34257000</bcrx:AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsFairValue>
  <bcrx:AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsFairValue contextRef="i_2016-12-31" decimals="-3" id="c27756088" unitRef="iso4217-usd">8926000</bcrx:AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsFairValue>
  <bcrx:AvailableForSaleSecuritiesDebtMaturitiesFairValueTableTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-18">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 67%; font-size: 10pt; text-align: left"&gt;Maturing in one year or less&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;64,115&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;32,546&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Maturing after one year through two years&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;34,257&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,926&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Maturing after two years&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,038&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt"&gt;Total investments&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;105,410&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;41,472&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</bcrx:AvailableForSaleSecuritiesDebtMaturitiesFairValueTableTextBlock>
  <bcrx:AvailableForSaleSecuritiesDebtMaturitiesMaturingAfterTwoYears contextRef="i_2017-12-31" decimals="-3" id="c27756089" unitRef="iso4217-usd">7038000</bcrx:AvailableForSaleSecuritiesDebtMaturitiesMaturingAfterTwoYears>
  <bcrx:AvailableForSaleSecuritiesDebtMaturitiesMaturingAfterTwoYears contextRef="i_2016-12-31" id="c27756090" unitRef="iso4217-usd" xs:nil="true"/>
  <bcrx:AverageMaturityPeriodOfHighQualityMarketableSecurities contextRef="d_2017-01-01_2017-12-31_RangeAxis-MaximumMember" id="c27755894">P1Y180D</bcrx:AverageMaturityPeriodOfHighQualityMarketableSecurities>
  <bcrx:BioCrystExchangeRatio contextRef="d_2018-01-21_2018-01-21_BusinessAcquisitionAxis-MergerAgreementMember_SubsequentEventTypeAxis-SubsequentEventMember" decimals="INF" id="c27758302" unitRef="xbrli-pure">0.5</bcrx:BioCrystExchangeRatio>
  <bcrx:CollaborativeAgreementContractValue contextRef="d_2007-01-01_2007-01-31" decimals="-3" id="c27756757" unitRef="iso4217-usd">5000000</bcrx:CollaborativeAgreementContractValue>
  <bcrx:CollaborativeAndOtherResearchAndDevelopment contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c27755569" unitRef="iso4217-usd">13142000</bcrx:CollaborativeAndOtherResearchAndDevelopment>
  <bcrx:CollaborativeAndOtherResearchAndDevelopment contextRef="d_2016-01-01_2016-12-31" decimals="-3" id="c27755570" unitRef="iso4217-usd">14402000</bcrx:CollaborativeAndOtherResearchAndDevelopment>
  <bcrx:CollaborativeAndOtherResearchAndDevelopment contextRef="d_2015-01-01_2015-12-31" decimals="-3" id="c27755571" unitRef="iso4217-usd">39580000</bcrx:CollaborativeAndOtherResearchAndDevelopment>
  <bcrx:CollaborativeAndOtherResearchAndDevelopmentRevenues contextRef="d_2017-01-01_2017-12-31_CounterpartyNameAxis-USDepartmentOfHealthAndHumanServicesMember" decimals="-3" id="c27756147" unitRef="iso4217-usd">4608000</bcrx:CollaborativeAndOtherResearchAndDevelopmentRevenues>
  <bcrx:CollaborativeAndOtherResearchAndDevelopmentRevenues contextRef="d_2016-01-01_2016-12-31_CounterpartyNameAxis-USDepartmentOfHealthAndHumanServicesMember" decimals="-3" id="c27756148" unitRef="iso4217-usd">12449000</bcrx:CollaborativeAndOtherResearchAndDevelopmentRevenues>
  <bcrx:CollaborativeAndOtherResearchAndDevelopmentRevenues contextRef="d_2015-01-01_2015-12-31_CounterpartyNameAxis-USDepartmentOfHealthAndHumanServicesMember" decimals="-3" id="c27756149" unitRef="iso4217-usd">16337000</bcrx:CollaborativeAndOtherResearchAndDevelopmentRevenues>
  <bcrx:CollaborativeAndOtherResearchAndDevelopmentRevenues contextRef="d_2017-01-01_2017-12-31_CounterpartyNameAxis-GreenCrossCorporationMember" id="c27756150" unitRef="iso4217-usd" xs:nil="true"/>
  <bcrx:CollaborativeAndOtherResearchAndDevelopmentRevenues contextRef="d_2016-01-01_2016-12-31_CounterpartyNameAxis-GreenCrossCorporationMember" id="c27756151" unitRef="iso4217-usd" xs:nil="true"/>
  <bcrx:CollaborativeAndOtherResearchAndDevelopmentRevenues contextRef="d_2015-01-01_2015-12-31_CounterpartyNameAxis-GreenCrossCorporationMember" decimals="-3" id="c27756152" unitRef="iso4217-usd">132000</bcrx:CollaborativeAndOtherResearchAndDevelopmentRevenues>
  <bcrx:CollaborativeAndOtherResearchAndDevelopmentRevenues contextRef="d_2017-01-01_2017-12-31_CounterpartyNameAxis-ShionogiAndCoLtdMember" decimals="-3" id="c27756153" unitRef="iso4217-usd">1184000</bcrx:CollaborativeAndOtherResearchAndDevelopmentRevenues>
  <bcrx:CollaborativeAndOtherResearchAndDevelopmentRevenues contextRef="d_2016-01-01_2016-12-31_CounterpartyNameAxis-ShionogiAndCoLtdMember" decimals="-3" id="c27756154" unitRef="iso4217-usd">1184000</bcrx:CollaborativeAndOtherResearchAndDevelopmentRevenues>
  <bcrx:CollaborativeAndOtherResearchAndDevelopmentRevenues contextRef="d_2015-01-01_2015-12-31_CounterpartyNameAxis-ShionogiAndCoLtdMember" decimals="-3" id="c27756155" unitRef="iso4217-usd">1184000</bcrx:CollaborativeAndOtherResearchAndDevelopmentRevenues>
  <bcrx:CollaborativeAndOtherResearchAndDevelopmentRevenues contextRef="d_2017-01-01_2017-12-31_CounterpartyNameAxis-SeqirusUKLimitedMember" decimals="-3" id="c27756156" unitRef="iso4217-usd">7350000</bcrx:CollaborativeAndOtherResearchAndDevelopmentRevenues>
  <bcrx:CollaborativeAndOtherResearchAndDevelopmentRevenues contextRef="d_2016-01-01_2016-12-31_CounterpartyNameAxis-SeqirusUKLimitedMember" decimals="-3" id="c27756157" unitRef="iso4217-usd">769000</bcrx:CollaborativeAndOtherResearchAndDevelopmentRevenues>
  <bcrx:CollaborativeAndOtherResearchAndDevelopmentRevenues contextRef="d_2015-01-01_2015-12-31_CounterpartyNameAxis-SeqirusUKLimitedMember" decimals="-3" id="c27756158" unitRef="iso4217-usd">21927000</bcrx:CollaborativeAndOtherResearchAndDevelopmentRevenues>
  <bcrx:CollaborativeAndOtherResearchAndDevelopmentRevenues contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c27756159" unitRef="iso4217-usd">13142000</bcrx:CollaborativeAndOtherResearchAndDevelopmentRevenues>
  <bcrx:CollaborativeAndOtherResearchAndDevelopmentRevenues contextRef="d_2016-01-01_2016-12-31" decimals="-3" id="c27756160" unitRef="iso4217-usd">14402000</bcrx:CollaborativeAndOtherResearchAndDevelopmentRevenues>
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  <bcrx:ConcentrationOfMarketRiskPolicyTextBlock contextRef="d_2017-01-01_2017-12-31" id="c27758337">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div&gt;&lt;div style=" font-size: 10pt; text-indent: 13.5pt; margin: 0pt 0"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 13.5pt; margin: 0pt 0"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Significant Customers and Other Risks&lt;/div&gt;&lt;/div&gt;&lt;div style="display: inline; font-style: italic;"&gt; &amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 13.5pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Significant Customers&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;Prior to the SUL Agreement, the Company relied primarily on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;three&lt;/div&gt; specialty distributors to purchase and supply the majority of RAPIVAB. These &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;three&lt;/div&gt; pharmaceutical specialty distributors accounted for greater than &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;90%&lt;/div&gt; of all RAPIVAB product sales and accounted for predominantly all of the Company&amp;#x2019;s outstanding receivables from product sales. The loss of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; or more of these specialty distributors as a customer could have negatively impacted the commercialization of RAPIVAB. However, the Company will utilize these specialty distributors on a limited basis subsequent to the SUL collaboration as SUL, and other peramivir collaboration partners, will be responsible for commercial sales on a worldwide basis. In addition, in connection with the SUL collaboration, all peramivir sales (i.e., RAPIVAB, RAPIACTA, and PERAMIFLU) will be made by the Company&amp;#x2019;s partners and the Company will be reliant on these partners to generate sales and remit cash to satisfy receivables.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;/div&gt; &lt;!-- Field: Page; Sequence: 68; Value: 60 --&gt; &lt;!-- Field: /Page --&gt; &lt;div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt"&gt;Other than royalty revenues, the Company&amp;#x2019;s primary source of revenue that has an underlying cash flow stream is the reimbursement of galidesivir (formerly &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;BCX4430&lt;/div&gt;) development expenses earned under cost-plus-fixed-fee contracts with BARDA/HHS and NIAID/HHS. The Company relies on BARDA/HHS and NIAID/HHS to reimburse predominantly all of the development costs for its galidesivir program. Accordingly, reimbursement of these expenses represents a significant portion of the Company&amp;#x2019;s collaborative and other research and development revenues. The completion or termination of the NIAID/HHS and BARDA/HHS galidesivir contracts could negatively impact the Company&amp;#x2019;s future Consolidated Statements of Comprehensive Loss and Cash Flows. The Company recognizes royalty revenue from the net sales of RAPIACTA by Shionogi; however, the underlying cash flow from these royalty payments, except for Japanese government stockpiling sales, goes directly to pay the interest, and then the principal, on the Company&amp;#x2019;s non-recourse notes payable. Payment of the interest and the ultimate repayment of principal of these notes will be entirely funded by future royalty payments derived from net sales of RAPIACTA. Further, the Company&amp;#x2019;s drug development activities are performed by a limited group of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt; party vendors. If any of these vendors were unable to perform their services, this could significantly impact the Company&amp;#x2019;s ability to complete its drug development activities.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Risks from Third Party Manufacturing and Distribution Concentration&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 22.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;The Company relies on single source manufacturers for active pharmaceutical ingredient and finished drug product manufacturing of product candidates in development. Delays in the manufacture or distribution of any product could adversely impact the commercial revenue and future procurement stockpiling of the Company&amp;#x2019;s product candidates in development.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Credit Risk&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 22.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;Cash equivalents and investments are financial instruments which potentially subject the Company to concentration of risk to the extent recorded on the Consolidated Balance Sheets. The Company deposits excess cash with major financial institutions in the United States. Balances &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;exceed the amount of insurance provided on such deposits. The Company believes it has established guidelines for investment of its excess cash relative to diversification and maturities that maintain safety and liquidity. To minimize the exposure due to adverse shifts in interest rates, the Company maintains a portfolio of investments with an average maturity of approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18&lt;/div&gt; months or less. Other than product sale and collaborative partner receivables discussed above, the majority of the Company&amp;#x2019;s receivables from collaborations are due from the U.S. Government, for which there is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; assumed credit risk.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</bcrx:ConcentrationOfMarketRiskPolicyTextBlock>
  <bcrx:CurrencyHedgeAgreementPolicyTextBlock contextRef="d_2017-01-01_2017-12-31" id="c27758334">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Currency Hedge Agreement&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;In connection with the issuance by Royalty Sub of the PhaRMA Notes, the Company entered into a Currency Hedge Agreement to hedge certain risks associated with changes in the value of the Japanese yen relative to the U.S. dollar. The Currency Hedge Agreement does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; qualify for hedge accounting treatment; therefore mark to market adjustments are recognized in the Company&amp;#x2019;s Consolidated Statements of Comprehensive Loss. Cumulative mark to market adjustments for the years ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015&lt;/div&gt; resulted in losses of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$1,787,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$1,654&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$564,&lt;/div&gt; respectively. Mark to market adjustments are determined by a &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt;-party pricing model which uses quoted prices in markets that are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; actively traded and for which significant inputs are observable directly or indirectly, representing Level &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2&lt;/div&gt; in the fair value hierarchy as defined by U.S. GAAP. In addition, realized currency exchange gains of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$966,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$811&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$1,654&lt;/div&gt; were recognized in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015,&lt;/div&gt; respectively, related to the exercise of a U.S. dollar/Japanese yen currency option under the Company&amp;#x2019;s foreign currency hedge. The Company is also required to post collateral in connection with the mark to market adjustments based on defined thresholds. As of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; hedge collateral was posted under the Currency Hedge Agreement.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</bcrx:CurrencyHedgeAgreementPolicyTextBlock>
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  <bcrx:DescriptionOfCompanyPolicyTextBlock contextRef="d_2017-01-01_2017-12-31" id="c27758315">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;The Company&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;BioCryst Pharmaceuticals, Inc. (the &amp;#x201c;Company&amp;#x201d;) is a biotechnology company that designs, optimizes and develops novel small molecule drugs that block key enzymes involved in the pathogenesis of diseases. The Company focuses on oral treatments for rare diseases in which significant unmet medical needs exist and that align with its capabilities and expertise. The Company was incorporated in Delaware in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1986&lt;/div&gt; and its headquarters is located in Durham, North Carolina. The Company integrates the disciplines of biology, crystallography, medicinal chemistry and computer modeling to discover and develop small molecule pharmaceuticals through the process known as structure-guided drug design. BioCryst has incurred losses and negative cash flows from operations since inception.&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;With the funds available at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;the Company believes these resources will be sufficient to fund its operations at least through the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt; quarter of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2019.&lt;/div&gt; The Company has sustained operating losses for the majority of its corporate history and expects that its &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2018&lt;/div&gt; expenses will exceed its &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2018&lt;/div&gt; revenues. The Company expects to continue to incur operating losses and negative cash flows until revenues reach a level sufficient to support ongoing operations. Accordingly, its planned operations raise doubt about its ability to continue as a going concern beyond the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt; quarter of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2019.&lt;/div&gt; The Company&amp;#x2019;s liquidity needs will be largely determined by the success of operations in regards to the progression of its product candidates in the future. The Company also &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;consider other plans to fund operations beyond the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt; quarter of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2019&lt;/div&gt; including: (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt;)&amp;nbsp;securing or increasing U.S. Government funding of its programs, including obtaining procurement contracts; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2&lt;/div&gt;)&amp;nbsp;out-licensing rights to certain of its products or product candidates, pursuant to which the Company would receive cash milestones; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt;)&amp;nbsp;raising additional capital through equity or debt financings or from other sources; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4&lt;/div&gt;)&amp;nbsp;obtaining additional product candidate regulatory approvals, which would generate revenue, milestones and cash flow; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5&lt;/div&gt;)&amp;nbsp;reducing spending on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; or more research and development programs, including by discontinuing development; and/or (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6&lt;/div&gt;)&amp;nbsp;restructuring operations to change its overhead structure. The Company &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;issue securities, including common stock, preferred stock, depositary shares, stock purchase contracts, warrants and units, through private placement transactions or registered public offerings in the future. The Company&amp;#x2019;s future liquidity needs, and ability to address those needs, will largely be determined by the success of its product candidates and key development and regulatory events and its decisions in the future.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</bcrx:DescriptionOfCompanyPolicyTextBlock>
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  <bcrx:RoyaltyMonetizationTextBlock contextRef="d_2017-01-01_2017-12-31" id="s806588">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&amp;#x2014;&lt;/div&gt; Royalty Monetization&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 6pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Overview&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 6pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;On &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; March&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2011,&lt;/div&gt; the Company completed a &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$30,000&lt;/div&gt;&amp;nbsp;financing transaction to monetize certain future royalty and milestone payments under the Shionogi Agreement, pursuant to which Shionogi licensed from the Company the rights to market RAPIACTA in Japan and Taiwan. The Company received net proceeds of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$22,691&lt;/div&gt;&amp;nbsp;from the transaction after transaction costs of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$4,309&lt;/div&gt;&amp;nbsp;and the establishment of a &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$3,000&lt;/div&gt;&amp;nbsp;interest reserve account by Royalty Sub, available to help cover interest shortfalls in the future. All of the interest reserve account has been fully utilized with the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; September 2012 &lt;/div&gt;interest payment.&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;As part of the transaction, the Company entered into a purchase and sale agreement dated as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; March&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2011&lt;/div&gt; with Royalty Sub, whereby the Company transferred to Royalty Sub, among other things, (i)&amp;nbsp;its rights to receive certain royalty and milestone payments from Shionogi arising under the Shionogi Agreement, and (ii)&amp;nbsp;the right to receive payments under a Japanese yen/US dollar foreign currency hedge arrangement (as further described below, the &amp;#x201c;Currency Hedge Agreement&amp;#x201d;) put into place by the Company in connection with the transaction. Royalty payments will be paid by Shionogi in Japanese yen and milestone payments will paid in U.S. dollars. The Company&amp;#x2019;s collaboration with Shionogi was &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; impacted as a result of this transaction.&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 69; Value: 60 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 6pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Non-Recourse Notes Payable&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;On &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; March&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2011,&lt;/div&gt; Royalty Sub completed a private placement to institutional investors of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$30,000&lt;/div&gt; in aggregate principal amount of its PhaRMA Senior Secured &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14.0%&lt;/div&gt; Notes due &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2020&lt;/div&gt; (the &amp;#x201c;PhaRMA Notes&amp;#x201d;). The PhaRMA Notes were issued by Royalty Sub under an Indenture, dated as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; March&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2011&lt;/div&gt; (the &amp;#x201c;Indenture&amp;#x201d;), by and between Royalty Sub and U.S. Bank National Association, as Trustee. Principal and interest on the PhaRMA Notes issued are payable from, and are secured by, the rights to royalty and milestone payments under the Shionogi Agreement transferred by the Company to Royalty Sub and payments, if any, made to Royalty Sub under the Currency Hedge Agreement. The PhaRMA Notes bear interest at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14%&lt;/div&gt;&amp;nbsp;per annum, payable annually in arrears on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; September&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1st&lt;/div&gt; of each year. The Company remains entitled to receive any royalties and milestone payments related to sales of peramivir by Shionogi following repayment of the PhaRMA Notes. &amp;nbsp;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;Royalty Sub&amp;#x2019;s obligations to pay principal and interest on the PhaRMA Notes are obligations solely of Royalty Sub and are without recourse to any other person, including the Company, except to the extent of the Company&amp;#x2019;s pledge of its equity interests in Royalty Sub in support of the PhaRMA Notes. The Company &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may, &lt;/div&gt;but is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; obligated to, make capital contributions to a capital account that &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;be used to redeem, or on up to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; occasion pay any interest shortfall on, the PhaRMA Notes.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; September&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2014,&lt;/div&gt; Royalty Sub was unable to pay the accrued interest obligation due &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; September&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2013.&lt;/div&gt; Under the terms of the Indenture, Royalty Sub&amp;#x2019;s inability to pay the full amount of interest payable in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; September&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2013&lt;/div&gt; by the next succeeding Payment Date for the PhaRMA Notes, which was &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; September&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2014,&lt;/div&gt; constituted an event of default. Accordingly, the PhaRMA Notes and related accrued interest have been classified as current liabilities on the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2014 &lt;/div&gt;balance sheet, and thereafter. As a result of the event of default under the PhaRMA Notes, the holders of the PhaRMA Notes &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;pursue acceleration of the PhaRMA Notes, &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;foreclose on the collateral securing the PhaRMA Notes and the equity interest in Royalty Sub and exercise other remedies available to them under the Indenture in respect of the PhaRMA Notes. In such event, the Company &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; realize the benefit of future royalty payments that might otherwise accrue to it following repayment of the PhaRMA Notes and it might otherwise be adversely affected. Due to the non-recourse nature of the PhaRMA Notes, in the event of any potential acceleration or foreclosure, the primary impact to the Company would be the loss of future royalty payments from Shionogi and legal costs associated with retiring the PhaRMA Notes. In addition, the Company &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;incur costs associated with liquidating the related Currency Hedge Agreement, which would &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; longer be required in the event of foreclosure, or if the PhaRMA Notes cease to be outstanding. As the PhaRMA Notes are the obligation of Royalty Sub and non-recourse to the Company, the event of default of the PhaRMA Notes is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; expected to have a significant impact on the Company&amp;#x2019;s future results of operations or cash flows. As of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;the PhaRMA Notes remain in default.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Indenture does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; contain any financial covenants. The Indenture includes customary representations and warranties of Royalty Sub, affirmative and negative covenants of Royalty Sub, Events of Default and related remedies, and provisions regarding the duties of the Trustee, indemnification of the Trustee, and other matters typical for indentures used in structured financings of this type.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;As of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; the aggregate fair value of the PhaRMA Notes was estimated to be approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;50%&lt;/div&gt; of its carrying value of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$30,000.&lt;/div&gt; The estimated fair value of the PhaRMA Notes is classified as Level &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2&lt;/div&gt; in the fair value hierarchy as defined in U.S. GAAP.&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The PhaRMA Notes are redeemable at the option of Royalty Sub at any time at a redemption price equal to the outstanding principal balance of the PhaRMA Notes being redeemed plus accrued and unpaid interest through the redemption date on the PhaRMA Notes being redeemed.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Foreign Currency Hedge&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;In connection with the issuance by Royalty Sub of the PhaRMA Notes, the Company entered into a Currency Hedge Agreement to hedge certain risks associated with changes in the value of the Japanese yen relative to the U.S. dollar. Under the Currency Hedge Agreement, the Company has the right to purchase dollars and sell yen at a rate of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;100&lt;/div&gt; yen per dollar for which the Company &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;be required to pay a premium in each year from &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2018&lt;/div&gt; through &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2020,&lt;/div&gt; provided the Currency Hedge Agreement remains in effect. A payment of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$1,950&lt;/div&gt;&amp;nbsp;will be required if, on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; May&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18&lt;/div&gt; of the relevant year, the U.S. dollar is worth &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;100&lt;/div&gt; yen or less as determined in accordance with the Currency Hedge Agreement.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;/div&gt; &lt;!-- Field: Page; Sequence: 70; Value: 60 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Currency Hedge Agreement does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; qualify for hedge accounting treatment; therefore mark to market adjustments are recognized in the Company&amp;#x2019;s Consolidated Statement of Comprehensive Loss. Cumulative mark to market adjustments in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015&lt;/div&gt; resulted in losses of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$1,787,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$1,654&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$564,&lt;/div&gt; respectively. In addition, realized currency exchange gains of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$966,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$811&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$1,654&lt;/div&gt; were recognized in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015,&lt;/div&gt; respectively, related to the exercise of a U.S. dollar/Japanese yen currency option under the Company&amp;#x2019;s foreign currency hedge. The Company is also required to post collateral in connection with the mark to market adjustments based on defined thresholds. As of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; collateral was posted under the Currency Hedge Agreement. The Company will &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; be required at any time to post collateral exceeding the maximum premium payments remaining payable under the Currency Hedge Agreement. As of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;the maximum amount of hedge collateral the Company &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;be required to post is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$5,850.&lt;/div&gt;&lt;/div&gt; &lt;/div&gt;&lt;/div&gt;</bcrx:RoyaltyMonetizationTextBlock>
  <bcrx:RoyaltyTerm contextRef="d_2015-06-16_2015-06-16_CounterpartyNameAxis-CSLLimitedMember" id="c27756780">P10Y</bcrx:RoyaltyTerm>
  <bcrx:ScheduleOfReceivablesFromCollaborationsTableTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-19">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;December&amp;nbsp;31, 2017&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Billed&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Unbilled&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 52%; font-size: 10pt; text-align: left"&gt;U.S. Department of Health and Human Services&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;42&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,020&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,062&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Shionogi&amp;nbsp;&amp;amp; Co. Ltd.&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,600&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,600&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Green Cross Corporation&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,388&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;28&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,416&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Mundipharma International Holdings Limited&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;47&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;47&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Seqirus UK Limited&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;825&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;167&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;992&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt"&gt;Total receivables&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,902&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,215&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,117&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;December&amp;nbsp;31, 2016&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Billed&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Unbilled&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 52%; font-size: 10pt; text-align: left"&gt;U.S. Department of Health and Human Services&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,495&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,495&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Shionogi&amp;nbsp;&amp;amp; Co. Ltd.&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,451&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,451&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Green Cross Corporation&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;686&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;686&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Seqirus UK Limited&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;957&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;179&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,136&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt"&gt;Total receivables&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,094&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,674&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,768&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</bcrx:ScheduleOfReceivablesFromCollaborationsTableTextBlock>
  <bcrx:ScheduleOfRevenuesFromCollaborationsTableTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-21">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;Product sales, net&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,501&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,269&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,291&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Royalty revenue&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,543&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,682&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,386&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Collaborative and other research and development revenues:&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;U.S. Department of Health and Human Services&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,608&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,449&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16,337&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Green Cross Corporation&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;132&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Shionogi &amp;amp; Co. Ltd.&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,184&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,184&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,184&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt"&gt;Seqirus UK Limited&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,350&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;769&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;21,927&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Total collaborative and other research and development revenues&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13,142&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14,402&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;39,580&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt"&gt;Total revenues&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;25,186&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;26,353&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; 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  <us-gaap:AvailableForSaleSecurities contextRef="i_2017-12-31" decimals="-3" id="c27756091" unitRef="iso4217-usd">105410000</us-gaap:AvailableForSaleSecurities>
  <us-gaap:AvailableForSaleSecurities contextRef="i_2016-12-31" decimals="-3" id="c27756092" unitRef="iso4217-usd">41472000</us-gaap:AvailableForSaleSecurities>
  <us-gaap:AvailableForSaleSecurities contextRef="i_2017-12-31_InvestmentTypeAxis-USGovernmentAgenciesDebtSecuritiesMember" decimals="-3" id="c27756049" unitRef="iso4217-usd">60176000</us-gaap:AvailableForSaleSecurities>
  <us-gaap:AvailableForSaleSecurities contextRef="i_2017-12-31_InvestmentTypeAxis-CorporateDebtSecuritiesMember" decimals="-3" id="c27756054" unitRef="iso4217-usd">34116000</us-gaap:AvailableForSaleSecurities>
  <us-gaap:AvailableForSaleSecurities contextRef="i_2017-12-31_InvestmentTypeAxis-CertificatesOfDepositMember" decimals="-3" id="c27756059" unitRef="iso4217-usd">11118000</us-gaap:AvailableForSaleSecurities>
  <us-gaap:AvailableForSaleSecurities contextRef="i_2016-12-31_InvestmentTypeAxis-USGovernmentAgenciesDebtSecuritiesMember" decimals="-3" id="c27756069" unitRef="iso4217-usd">20298000</us-gaap:AvailableForSaleSecurities>
  <us-gaap:AvailableForSaleSecurities contextRef="i_2016-12-31_InvestmentTypeAxis-CorporateDebtSecuritiesMember" decimals="-3" id="c27756074" unitRef="iso4217-usd">6199000</us-gaap:AvailableForSaleSecurities>
  <us-gaap:AvailableForSaleSecurities contextRef="i_2016-12-31_InvestmentTypeAxis-CertificatesOfDepositMember" decimals="-3" id="c27756079" unitRef="iso4217-usd">14975000</us-gaap:AvailableForSaleSecurities>
  <us-gaap:AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax contextRef="i_2017-12-31_InvestmentTypeAxis-USGovernmentAgenciesDebtSecuritiesMember" id="c27756047" unitRef="iso4217-usd" xs:nil="true"/>
  <us-gaap:AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax contextRef="i_2017-12-31_InvestmentTypeAxis-CorporateDebtSecuritiesMember" id="c27756052" unitRef="iso4217-usd" xs:nil="true"/>
  <us-gaap:AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax contextRef="i_2017-12-31_InvestmentTypeAxis-CertificatesOfDepositMember" decimals="-3" id="c27756057" unitRef="iso4217-usd">1000</us-gaap:AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax>
  <us-gaap:AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax contextRef="i_2017-12-31" decimals="-3" id="c27756062" unitRef="iso4217-usd">1000</us-gaap:AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax>
  <us-gaap:AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax contextRef="i_2016-12-31_InvestmentTypeAxis-USGovernmentAgenciesDebtSecuritiesMember" decimals="-3" id="c27756067" unitRef="iso4217-usd">2000</us-gaap:AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax>
  <us-gaap:AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax contextRef="i_2016-12-31_InvestmentTypeAxis-CorporateDebtSecuritiesMember" decimals="-3" id="c27756072" unitRef="iso4217-usd">2000</us-gaap:AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax>
  <us-gaap:AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax contextRef="i_2016-12-31_InvestmentTypeAxis-CertificatesOfDepositMember" decimals="-3" id="c27756077" unitRef="iso4217-usd">7000</us-gaap:AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax>
  <us-gaap:AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax contextRef="i_2016-12-31" decimals="-3" id="c27756082" unitRef="iso4217-usd">11000</us-gaap:AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax>
  <us-gaap:AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax contextRef="i_2017-12-31_InvestmentTypeAxis-USGovernmentAgenciesDebtSecuritiesMember" decimals="-3" id="c27756048" unitRef="iso4217-usd">122000</us-gaap:AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax>
  <us-gaap:AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax contextRef="i_2017-12-31_InvestmentTypeAxis-CorporateDebtSecuritiesMember" decimals="-3" id="c27756053" unitRef="iso4217-usd">108000</us-gaap:AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax>
  <us-gaap:AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax contextRef="i_2017-12-31_InvestmentTypeAxis-CertificatesOfDepositMember" decimals="-3" id="c27756058" unitRef="iso4217-usd">14000</us-gaap:AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax>
  <us-gaap:AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax contextRef="i_2017-12-31" decimals="-3" id="c27756063" unitRef="iso4217-usd">244000</us-gaap:AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax>
  <us-gaap:AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax contextRef="i_2016-12-31_InvestmentTypeAxis-USGovernmentAgenciesDebtSecuritiesMember" decimals="-3" id="c27756068" unitRef="iso4217-usd">4000</us-gaap:AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax>
  <us-gaap:AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax contextRef="i_2016-12-31_InvestmentTypeAxis-CorporateDebtSecuritiesMember" decimals="-3" id="c27756073" unitRef="iso4217-usd">8000</us-gaap:AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax>
  <us-gaap:AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax contextRef="i_2016-12-31_InvestmentTypeAxis-CertificatesOfDepositMember" decimals="-3" id="c27756078" unitRef="iso4217-usd">11000</us-gaap:AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax>
  <us-gaap:AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax contextRef="i_2016-12-31" decimals="-3" id="c27756083" unitRef="iso4217-usd">23000</us-gaap:AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax>
  <us-gaap:AvailableForSaleSecuritiesAmortizedCost contextRef="i_2017-12-31_InvestmentTypeAxis-USGovernmentAgenciesDebtSecuritiesMember" decimals="-3" id="c27756045" unitRef="iso4217-usd">60121000</us-gaap:AvailableForSaleSecuritiesAmortizedCost>
  <us-gaap:AvailableForSaleSecuritiesAmortizedCost contextRef="i_2017-12-31_InvestmentTypeAxis-CorporateDebtSecuritiesMember" decimals="-3" id="c27756050" unitRef="iso4217-usd">34021000</us-gaap:AvailableForSaleSecuritiesAmortizedCost>
  <us-gaap:AvailableForSaleSecuritiesAmortizedCost contextRef="i_2017-12-31_InvestmentTypeAxis-CertificatesOfDepositMember" decimals="-3" id="c27756055" unitRef="iso4217-usd">11099000</us-gaap:AvailableForSaleSecuritiesAmortizedCost>
  <us-gaap:AvailableForSaleSecuritiesAmortizedCost contextRef="i_2017-12-31" decimals="-3" id="c27756060" unitRef="iso4217-usd">105241000</us-gaap:AvailableForSaleSecuritiesAmortizedCost>
  <us-gaap:AvailableForSaleSecuritiesAmortizedCost contextRef="i_2016-12-31_InvestmentTypeAxis-USGovernmentAgenciesDebtSecuritiesMember" decimals="-3" id="c27756065" unitRef="iso4217-usd">20266000</us-gaap:AvailableForSaleSecuritiesAmortizedCost>
  <us-gaap:AvailableForSaleSecuritiesAmortizedCost contextRef="i_2016-12-31_InvestmentTypeAxis-CorporateDebtSecuritiesMember" decimals="-3" id="c27756070" unitRef="iso4217-usd">6179000</us-gaap:AvailableForSaleSecuritiesAmortizedCost>
  <us-gaap:AvailableForSaleSecuritiesAmortizedCost contextRef="i_2016-12-31_InvestmentTypeAxis-CertificatesOfDepositMember" decimals="-3" id="c27756075" unitRef="iso4217-usd">14962000</us-gaap:AvailableForSaleSecuritiesAmortizedCost>
  <us-gaap:AvailableForSaleSecuritiesAmortizedCost contextRef="i_2016-12-31" decimals="-3" id="c27756080" unitRef="iso4217-usd">41407000</us-gaap:AvailableForSaleSecuritiesAmortizedCost>
  <us-gaap:AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue contextRef="i_2017-12-31" decimals="-3" id="c27756085" unitRef="iso4217-usd">64115000</us-gaap:AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue>
  <us-gaap:AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue contextRef="i_2016-12-31" decimals="-3" id="c27756086" unitRef="iso4217-usd">32546000</us-gaap:AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue>
  <us-gaap:AvailableForSaleSecuritiesDebtSecuritiesCurrent contextRef="i_2017-12-31" decimals="-3" id="c27755484" unitRef="iso4217-usd">64115000</us-gaap:AvailableForSaleSecuritiesDebtSecuritiesCurrent>
  <us-gaap:AvailableForSaleSecuritiesDebtSecuritiesCurrent contextRef="i_2016-12-31" decimals="-3" id="c27755485" unitRef="iso4217-usd">32546000</us-gaap:AvailableForSaleSecuritiesDebtSecuritiesCurrent>
  <us-gaap:AvailableForSaleSecuritiesDebtSecuritiesNoncurrent contextRef="i_2017-12-31" decimals="-3" id="c27755496" unitRef="iso4217-usd">41295000</us-gaap:AvailableForSaleSecuritiesDebtSecuritiesNoncurrent>
  <us-gaap:AvailableForSaleSecuritiesDebtSecuritiesNoncurrent contextRef="i_2016-12-31" decimals="-3" id="c27755497" unitRef="iso4217-usd">8926000</us-gaap:AvailableForSaleSecuritiesDebtSecuritiesNoncurrent>
  <us-gaap:AvailableForSaleSecuritiesTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-17">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="19" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;December 31, 2017&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Amortized&lt;br /&gt; Cost&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Accrued&lt;br /&gt; Interest&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Gross&lt;br /&gt; Unrealized&lt;br /&gt; Gains&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Gross&lt;br /&gt; Unrealized&lt;br /&gt; Losses&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Estimated&lt;br /&gt; Fair Value&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 35%; font-size: 10pt; text-align: left; text-indent: -10pt; padding-left: 10pt"&gt;Obligations of U.S. Government and its agencies&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;60,121&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;177&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(122&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;60,176&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Corporate debt securities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;34,021&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;203&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(108&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;34,116&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Certificates of deposit&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,099&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;32&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(14&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,118&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt"&gt;Total investments&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;105,241&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;412&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(244&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;105,410&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="19" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;December 31, 2016&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Amortized&lt;br /&gt; Cost&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Accrued&lt;br /&gt; Interest&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Gross&lt;br /&gt; Unrealized&lt;br /&gt; Gains&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Gross&lt;br /&gt; Unrealized&lt;br /&gt; Losses&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Estimated&lt;br /&gt; Fair Value&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 35%; font-size: 10pt; text-align: left; text-indent: -10pt; padding-left: 10pt"&gt;Obligations of U.S. Government and its agencies&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;20,266&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;34&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;20,298&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Corporate debt securities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,179&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;26&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,199&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Certificates of deposit&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14,962&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(11&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14,975&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt"&gt;Total investments&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;41,407&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;77&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(23&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;41,472&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</us-gaap:AvailableForSaleSecuritiesTextBlock>
  <us-gaap:BasisOfAccountingPolicyPolicyTextBlock contextRef="d_2017-01-01_2017-12-31" id="c27758316">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Basis of Presentation&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, JPR Royalty Sub LLC (&amp;#x201c;Royalty Sub&amp;#x201d;) and MDCP, LLC (&amp;#x201c;MDCP&amp;#x201d;). Both subsidiaries were formed to facilitate financing transactions for the Company. Royalty Sub was formed in connection with a &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$30,000&lt;/div&gt;&amp;nbsp;financing transaction the Company completed on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; March&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2011.&lt;/div&gt; See Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,&lt;/div&gt; Royalty Monetization, for a further description of this transaction. MDCP was formed in connection with a &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$23,000&lt;/div&gt; Senior Credit Facility that the Company closed on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; September 23, 2016. &lt;/div&gt;See Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,&lt;/div&gt; Senior Credit Facility, for a further description of this transaction. All intercompany transactions and balances have been eliminated.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company&amp;#x2019;s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (&amp;#x201c;U.S. GAAP&amp;#x201d;). Such consolidated financial statements reflect all adjustments that are, in management&amp;#x2019;s opinion, necessary to present fairly, in all material respects, the Company&amp;#x2019;s consolidated financial position, results of operations, and cash flows. There were &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; adjustments other than normal recurring adjustments.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:BasisOfAccountingPolicyPolicyTextBlock>
  <us-gaap:CapitalLeaseObligationsCurrent contextRef="i_2017-12-31" decimals="-3" id="c27755515" unitRef="iso4217-usd">75000</us-gaap:CapitalLeaseObligationsCurrent>
  <us-gaap:CapitalLeaseObligationsCurrent contextRef="i_2016-12-31" id="c27755516" unitRef="iso4217-usd" xs:nil="true"/>
  <us-gaap:CapitalLeasesFutureMinimumPaymentsDue contextRef="i_2017-12-31_LeaseArrangementTypeAxis-BirminghamResearchFacilityMember" decimals="-3" id="c27755998" unitRef="iso4217-usd">4334000</us-gaap:CapitalLeasesFutureMinimumPaymentsDue>
  <us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="i_2017-12-31" decimals="-3" id="c27755480" unitRef="iso4217-usd">50282000</us-gaap:CashAndCashEquivalentsAtCarryingValue>
  <us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="i_2016-12-31" decimals="-3" id="c27755481" unitRef="iso4217-usd">22104000</us-gaap:CashAndCashEquivalentsAtCarryingValue>
  <us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="i_2015-12-31" decimals="-3" id="c27755705" unitRef="iso4217-usd">28899000</us-gaap:CashAndCashEquivalentsAtCarryingValue>
  <us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="i_2014-12-31" decimals="-3" id="c27755706" unitRef="iso4217-usd">54540000</us-gaap:CashAndCashEquivalentsAtCarryingValue>
  <us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c27755701" unitRef="iso4217-usd">28178000</us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease>
  <us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease contextRef="d_2016-01-01_2016-12-31" decimals="-3" id="c27755702" unitRef="iso4217-usd">-6795000</us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease>
  <us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease contextRef="d_2015-01-01_2015-12-31" decimals="-3" id="c27755703" unitRef="iso4217-usd">-25641000</us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease>
  <us-gaap:CashAndCashEquivalentsPolicyTextBlock contextRef="d_2017-01-01_2017-12-31" id="c27758317">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Cash and Cash Equivalents&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company generally considers cash equivalents to be all cash held in commercial checking accounts, certificates of deposit, money market accounts or investments in debt instruments with maturities of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;three&lt;/div&gt; months or less at the time of purchase. The carrying value of cash and cash equivalents approximates fair value due to the short-term nature of these items.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:CashAndCashEquivalentsPolicyTextBlock>
  <us-gaap:CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy contextRef="d_2017-01-01_2017-12-31" id="c27758318">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Restricted Cash&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;Restricted cash as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 &lt;/div&gt;reflects &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$1,876&lt;/div&gt; in royalty revenue paid by Shionogi&amp;nbsp;&amp;amp; Co., Ltd. (&amp;#x201c;Shionogi&amp;#x201d;) designated for interest on the PhaRMA Notes (defined in Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt;) and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$1,410&lt;/div&gt; the Company is required to maintain as collateral for a letter of credit associated with the lease execution and build-out of its new Birmingham research facilities.&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy>
  <us-gaap:CollaborativeArrangementDisclosureTextBlock contextRef="d_2017-01-01_2017-12-31" id="s806605">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Note&amp;nbsp;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10&lt;/div&gt;&amp;nbsp;&amp;#x2014; Collaborative and Other Research and Development Contracts&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;div style="display: inline; font-style: italic;"&gt;National Institute of Allergy and Infectious Diseases (&amp;#x201c;NIAID/HHS&amp;#x201d;).&lt;/div&gt; In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; September 2013, &lt;/div&gt;NIAID/HHS contracted with the Company for the development of galidesivir as a treatment for Marburg virus disease. NIAID/HHS, part of the National Institutes of Health, made an initial award of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$5,000&lt;/div&gt; to the Company. The goals of this contract, including amendments, are to file IND applications for intravenous (&amp;#x201c;i.v.&amp;#x201d;) and intramuscular (&amp;#x201c;i.m.&amp;#x201d;) galidesivir for the treatment of Marburg virus disease and other hemorrhagic fever virus diseases, including Ebola virus disease, and to conduct an initial Phase &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt; human clinical trial. As of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;the total NIAID/HHS contract amount to advance the program through the completion of the Phase I clinical program is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$39,477.&lt;/div&gt; As of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;all options have been exercised under this contract.&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;U.S.&amp;nbsp;Department of Health and Human Services (&amp;#x201c;BARDA/HHS&amp;#x201d;).&lt;/div&gt; On &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; March 31, 2015, &lt;/div&gt;the Company announced that BARDA/HHS had awarded the Company a contract for the continued development of galidesivir as a potential treatment for diseases caused by RNA pathogens, including filoviruses.&amp;nbsp;This BARDA/HHS contract includes a base contract of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$16,265&lt;/div&gt; to support galidesivir drug manufacturing, as well as &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$22,855&lt;/div&gt; in additional development options that can be exercised by the government, bringing the potential value of the contract to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$39,120.&lt;/div&gt; As of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;a total of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$20,574&lt;/div&gt; has been awarded under exercised options within this contract.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;The contracts with NIAID/HHS and BARDA/HHS are cost-plus-fixed-fee contracts. That is, the Company is entitled to receive reimbursement for all costs incurred in accordance with the contract provisions that are related to the development of galidesivir plus a fixed fee, or profit. BARDA/HHS and NIAID/HHS will make periodic assessments of progress and the continuation of the contract is based on the Company&amp;#x2019;s performance, the timeliness and quality of deliverables, and other factors. The government has rights under certain contract clauses to terminate these contracts. These contracts are terminable by the government at any time for breach or without cause.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Seqirus UK Limited (&amp;#x201c;SUL&amp;#x201d;).&lt;/div&gt; On &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; June 16, 2015, &lt;/div&gt;the Company and Seqirus UK Limited (&amp;quot;SUL&amp;quot;), a limited company organized under the laws of the United Kingdom and a subsidiary of CSL Limited, a company organized under the laws of Australia, entered into a License Agreement (the &amp;quot;SUL Agreement&amp;quot;) granting SUL and its affiliates worldwide rights to develop, manufacture and commercialize RAPIVAB (peramivir injection) for the treatment of influenza except for the rights to conduct such activities in Israel, Japan, Korea and Taiwan (the permitted geographies together constituting the &amp;quot;Territory&amp;quot;). Peramivir is an intravenous treatment for acute uncomplicated influenza and is currently approved for use in the United States, Canada, Japan, Taiwan and Korea. Peramivir is the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;first&lt;/div&gt; and only intravenous influenza treatment in the world and was approved by the U.S. Food and Drug Administration in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 2014 &lt;/div&gt;for the treatment of acute uncomplicated influenza in patients &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18&lt;/div&gt; years and older who have been symptomatic for &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; more than &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;two&lt;/div&gt; days. The Company retains all rights and associated economics to procure pandemic stockpiling orders for RAPIVAB from the U.S. Government, while SUL has the right to pursue government stockpiling outside the U.S.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 76; Value: 60 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;Pursuant to the SUL Agreement, RAPIVAB will be commercialized by CSL's subsidiary, SUL, which specializes in influenza prevention through the supply of seasonal and pandemic vaccine to global markets. SUL will manufacture, commercialize and exercise decision-making authority with respect to the development and commercialization of RAPIVAB within the Territory and be responsible for all related costs, including sales and promotion.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;Under the terms of the SUL Agreement, the Company is responsible for fulfilling all post-marketing approval commitments in connection with the FDA's approval of the NDA, and upon fulfillment will transfer ownership of and financial responsibility for the NDA to SUL. Pursuant to potential rights to sell RAPIVAB in Canada and the EU, the Company is also responsible for regulatory filings and interactions with the Health Canada and the European Medicines Agency (&amp;quot;EMA&amp;quot;) until marketing approval for RAPIVAB is obtained and assigned to SUL. In accordance with the SUL Agreement, the Company and SUL formed a joint steering committee, composed of an equal number of representatives from each party, to oversee, review and coordinate the conduct and progress of the commercialization of RAPIVAB in the Territory and any additional development.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;Under the terms of the SUL Agreement, the Company received an upfront payment of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$33,740,&lt;/div&gt; has received &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$7,000&lt;/div&gt; of milestone payments and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;receive an additional &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$5,000&lt;/div&gt; milestone payment related to the successful marketing approval by the EMA for an adult indication in the EU (ALPIVAB). The Company is also entitled under the SUL Agreement to receive tiered royalties at a percentage rate beginning in the mid-teens contingent upon meeting minimum thresholds of net sales, as well as a low-thirties percentage of the gross profit from government stockpiling purchases made outside the U.S. Specifically, the Company receives tiered royalties at a percentage rate in the mid-teens to low-forties on net sales in the U.S. during a Contract Year (defined as &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; July 1 - &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; June 30) &lt;/div&gt;and tiered royalties at a percentage rate in the mid-teens to mid-twenties on net sales in the Territory, other than in the U.S., during a Calendar Year, each subject to certain downward adjustments for circumstance or events impacting the overall market opportunity. SUL's royalty payment obligations commence on the date of the SUL Agreement and expire, on a country-by-country basis, upon the later of (i) the expiration of legal exclusivity in such country and (ii) &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;ten&lt;/div&gt; years from the date of the SUL Agreement (the &amp;quot;Royalty Term&amp;quot;). The Company developed peramivir under a license from UAB and will owe sublicense payments to them on any future milestone payments and/or royalties received by the Company from SUL.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Shionogi&amp;nbsp;&amp;amp; Co., Ltd. (&amp;#x201c;Shionogi&amp;#x201d;).&lt;/div&gt; In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; February 2007, &lt;/div&gt;the Company entered into an exclusive license agreement with Shionogi to develop and commercialize peramivir in Japan for the treatment of seasonal and potentially life-threatening human influenza. Under the terms of the agreement, Shionogi obtained rights to injectable formulations of peramivir in Japan. The Company developed peramivir under a license from UAB and will owe sublicense payments to them on any future milestone payments and/or royalties received by the Company from Shionogi. In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; October 2008, &lt;/div&gt;the Company and Shionogi amended the license agreement to expand the territory covered by the agreement to include Taiwan. Shionogi has commercially launched peramivir under the commercial name RAPIACTA in Japan and Taiwan.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 2017, &lt;/div&gt;the Company, on behalf of Royalty Sub, instituted arbitration proceedings against Shionogi in order to resolve&amp;nbsp;a dispute with Shionogi under the Shionogi Agreement regarding the achievement of sales milestones and escalating royalties.&amp;nbsp;In the event that the Company prevails in the arbitration, any amounts realized in the arbitration or in respect of the milestone payments and escalating royalties that are the subject of the arbitration would be for the benefit of Royalty Sub and be used by Royalty Sub to service its obligations under the non-recourse PhaRMA Notes (except for any amounts realized by the Company in respect of royalties relating to sales to Japanese governmental entities, which amounts would be retained by the Company). The costs associated with the arbitration proceedings are expected to be paid out of the assets of Royalty Sub in accordance with the terms of the indenture and servicing agreement relating to the PhaRMA Notes, except to the extent such costs are recovered in connection with any arbitration award in favor of the Company and Royalty Sub if they prevail in the arbitration proceedings. Arbitration proceedings, like other legal proceedings, are inherently uncertain. As a result, the Company cannot assure you that the Company will prevail in the arbitration. As any arbitration award in favor of the Company would accrue primarily to the benefit of Royalty Sub and the holders of the PhaRMA Notes, and because the costs associated with the arbitration proceedings are expected to come out of the assets of Royalty Sub if &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; recovered as part of any arbitration award in favor of the Company and Royalty Sub, the Company does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; currently anticipate that these arbitration proceedings will have a material adverse impact on the Company.&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Green Cross Corporation (&amp;#x201c;Green Cross&amp;#x201d;).&lt;/div&gt; In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; June 2006, &lt;/div&gt;the Company entered into an agreement with Green Cross to develop and commercialize peramivir in Korea. Under the terms of the agreement, Green Cross will be responsible for all development, regulatory, and commercialization costs in Korea. The Company received a &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt;-time license fee of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$250.&lt;/div&gt; The license also provides that the Company will share in profits resulting from the sale of peramivir in Korea, including the sale of peramivir to the Korean government for stockpiling purposes. Furthermore, Green Cross will pay the Company a premium over its cost to supply peramivir for development and any future marketing of peramivir products in Korea.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Mundipharma International Holdings Limited (&amp;#x201c;Mundipharma&amp;#x201d;).&lt;/div&gt; In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; February 2006, &lt;/div&gt;the Company entered into an exclusive, royalty bearing right and license agreement with Mundipharma for the development and commercialization of Mundesine, a Purine Nucleoside Phosphorylase (&amp;#x201c;PNP&amp;#x201d;) inhibitor, for use in oncology (the &amp;#x201c;Original Agreement&amp;#x201d;). Under the terms of the Original Agreement, Mundipharma obtained rights to Mundesine in markets across Europe, Asia, and Australasia in exchange for a &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$10,000&lt;/div&gt; up-front payment.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: center; text-indent: 27pt; margin: 0pt 0"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;/div&gt; &lt;!-- Field: Page; Sequence: 77; Value: 60 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div&gt; &lt;div style=" font-size: 10pt; text-align: center; margin: 0pt 0"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;The Company deferred revenue recognition of the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$10,000&lt;/div&gt; up-front payment that was received from Mundipharma in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; February&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2006&lt;/div&gt; because the Company was involved in the continued development of Mundesine. Amortization of this revenue commenced in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; February 2006 &lt;/div&gt;and was initially scheduled to end in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; October 2017, &lt;/div&gt;which is the date of expiration for the last-to-expire patent covered by the agreement. The Company also deferred revenue recognition of a &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$5,000&lt;/div&gt; payment received from Mundipharma in connection with the initiation of a clinical trial in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2007.&lt;/div&gt; Amortization of this revenue commenced in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2007&lt;/div&gt; and was initially scheduled to end in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; October 2017. &lt;/div&gt;Under its agreement with AECOM/IRL, the Company paid sublicense payments related to these upfront cash payments received from Mundipharma. Expense recognition of these sublicense payments was deferred and recognized under the same term as the related deferred revenue.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;On &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; November&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2011,&lt;/div&gt; the Company entered into the Amended and Restated License and Development Agreement (the &amp;#x201c;Amended and Restated Agreement&amp;#x201d;) with Mundipharma, amending and restating the Original Agreement. Under the terms of the Amended and Restated Agreement, Mundipharma obtained worldwide rights to Mundesine. Commencing on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; November&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2011,&lt;/div&gt; Mundipharma controls the development and commercialization of Mundesine and assumes all future development and commercialization costs. The Amended and Restated Agreement provides for the possibility of future event payments totaling &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$15,000&lt;/div&gt; for achieving specified regulatory events for certain indications and tiered royalties ranging from mid to high single-digit percentages of net product sales in each country where Mundesine is sold by Mundipharma. These royalties are subject to downward adjustments based on the then-existing patent coverage and/or the availability of generic compounds in each country.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;The Amended and Restated Agreement is a multiple element arrangement for accounting purposes, in which the Company is required to deliver to Mundipharma both the worldwide rights to Mundesine in the field of oncology and the transfer of product data and know-how to permit Mundipharma to develop and commercialize Mundesine (the &amp;#x201c;Knowledge Transfer&amp;#x201d;). The Company accounted for these elements as a combined unit of accounting as they do &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; have stand-alone value to Mundipharma. The worldwide license rights were granted to Mundipharma on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; November&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2011&lt;/div&gt; and the Knowledge Transfer was completed during the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;first&lt;/div&gt; quarter of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2012.&lt;/div&gt; Upon completion of the Knowledge Transfer, the remaining deferred revenue and deferred expense was recognized in full.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Albert Einstein College of Medicine of Yeshiva University and Industrial Research, Ltd. (&amp;#x201c;AECOM&amp;#x201d; and &amp;#x201c;IRL&amp;#x201d; respectively).&lt;/div&gt; In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; June 2000, &lt;/div&gt;the Company licensed a series of potent inhibitors of PNP from AECOM and IRL, (collectively, the &amp;#x201c;Licensors&amp;#x201d;). The lead product candidates from this collaboration are forodesine and ulodesine. The Company has obtained worldwide exclusive rights to develop and ultimately distribute these, or any other, product candidates that might arise from research on these inhibitors. The Company has the option to expand the Agreement to include other inventions in the field made by the investigators or employees of the Licensors. The Company agreed to use commercially reasonable efforts to develop these drugs. In addition, the Company has agreed to pay certain milestone payments for each licensed product (which range in the aggregate from &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$1,400&lt;/div&gt; to almost &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$4,000&lt;/div&gt;&amp;nbsp;per indication) for future development of these inhibitors, single digit royalties on net sales of any resulting product made by the Company, and to share approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; quarter of future payments received from other &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt;-party partners, if any. In addition, the Company has agreed to pay annual license fees, which can range from &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$150&lt;/div&gt; to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$500,&lt;/div&gt; that are creditable against actual royalties and other payments due to the Licensors. This agreement &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;be terminated by the Company at any time by giving &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;60&lt;/div&gt;&amp;nbsp;days advance notice or in the event of material uncured breach by the Licensors.&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; May 2010, &lt;/div&gt;the Company amended the licensee agreement through which the Company obtained worldwide exclusive rights to develop and ultimately distribute any product candidates that might arise from research on a series of PNP inhibitors, including forodesine and ulodesine. Under the terms of the amendment, the Licensors agreed to accept a reduction of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt;-half in the percentage of future payments received from &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt;-party sub licensees of the licensed PNP inhibitors that must be paid to the Licensors. This reduction does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; apply to (i)&amp;nbsp;any milestone payments the Company &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;receive in the future under its license agreement dated &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; February&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2006&lt;/div&gt; with Mundipharma and (ii)&amp;nbsp;royalties received from its sub licensees in connection with the sale of licensed products, for which the original payment rate will remain in effect. The rate of royalty payments to the Licensors based on net sales of any resulting product made by the Company remains unchanged.&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;In consideration for these modifications in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2010,&lt;/div&gt; the Company issued to the Licensors shares of its common stock with an aggregate value of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$5,911&lt;/div&gt; and paid the Licensors &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$90&lt;/div&gt; in cash. Additionally, at the Company&amp;#x2019;s sole option and subject to certain agreed upon conditions, any future non-royalty payments due to be paid by it to the Licensors under the license agreement &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;be made either in cash, in shares of its common stock, or in a combination of cash and shares.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;On &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; November&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2011,&lt;/div&gt; the Company further amended its agreements with the Licensors whereby the Licensors agreed to accept a reduction of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt;-half in the percentage of Net Proceeds (as defined) received by the Company under its Amended and Restated Agreement with Mundipharma that will be paid to AECOM/IRL.&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;On &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; June&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2012,&lt;/div&gt; the Company further amended its agreements with AECOM/IRL whereby the parties clarified the definition of the field with respect to PNP inhibition and AECOM/IRL agreed to exclusive worldwide license of galidesivir to BioCryst for any antiviral use.&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;/div&gt; &lt;!-- Field: Page; Sequence: 78; Value: 60 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;At its sole option and subject to certain agreed upon conditions, any future non-royalty payments due to be paid by the Company to AECOM/IRL under the license agreement &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;be made either in cash, in shares of the Company&amp;#x2019;s common stock, or in a combination of cash and shares.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;On &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January 6, 2014, &lt;/div&gt;the Carbohydrate Chemistry Research Team from Callaghan Innovation Research Limited, formerly Industrial Research Limited, transferred to Victoria University of Wellington (&amp;#x201c;VUW&amp;#x201d;) to establish the Ferrier Research Institute. The intellectual property rights relating to this research team, and the contracts relating to that intellectual property were transferred to a wholly owned subsidiary of VUW, including the contracts to which BioCryst is a party. The parties executed novation agreements in order to effectuate the transfer. Except for a substitution of parties, the terms and conditions of the contracts are substantially the same&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;div style="display: inline; font-style: italic;"&gt;The University of Alabama at Birmingham (&amp;#x201c;UAB&amp;#x201d;).&lt;/div&gt; The Company currently has agreements with UAB for influenza neuraminidase and complement inhibitors. Under the terms of these agreements, UAB performed specific research for the Company in return for research payments and license fees. UAB has granted the Company certain rights to any discoveries in these areas resulting from research developed by UAB or jointly developed with the Company. The Company has agreed to pay single digit royalties on sales of any resulting product and to share in future payments received from other &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt;-party partners. The Company has completed the research under the UAB agreements. These &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;two&lt;/div&gt; agreements have initial &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;25&lt;/div&gt;-year terms, are automatically renewable for &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;five&lt;/div&gt;-year terms throughout the life of the last patent and are terminable by the Company upon &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;three&lt;/div&gt; months&amp;#x2019; notice and by UAB under certain circumstances. Upon termination both parties shall cease using the other parties&amp;#x2019; proprietary and confidential information and materials, the parties shall jointly own joint inventions and UAB shall resume full ownership of all UAB licensed products. There is currently &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; activity between the Company and UAB on these agreements, but when the Company licenses this technology, such as in the case of the Shionogi, Green Cross and SUL agreements, or commercializes products related to these programs, the Company will owe sublicense fees or royalties on amounts it receives.&lt;/div&gt; &lt;/div&gt;&lt;/div&gt;</us-gaap:CollaborativeArrangementDisclosureTextBlock>
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  <us-gaap:CommitmentsAndContingenciesDisclosureTextBlock contextRef="d_2017-01-01_2017-12-31" id="s806591">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Note&amp;nbsp;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5&lt;/div&gt;&amp;nbsp;&amp;#x2014; Lease Obligations and Other Contingencies&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company has the following minimum payments under operating lease obligations that existed at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017:&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 87%; font-size: 10pt; text-align: left"&gt;2018&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,169&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,154&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;2020&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;862&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;2021&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;479&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;2022&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;490&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Thereafter&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,999&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt"&gt;Total minimum payments&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,153&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The obligations in the preceding table are primarily related to the Company&amp;#x2019;s leases for buildings in Birmingham, Alabama and Durham, North Carolina. The lease for the Company&amp;#x2019;s headquarters in Durham, North Carolina expires &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; June&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;30,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2020.&lt;/div&gt; The lease for the Company&amp;#x2019;s research facility in Birmingham, Alabama expires &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; October 31, 2026. &lt;/div&gt;Rent expense for operating leases was &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$617,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$721&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$664&lt;/div&gt; in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016,&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015,&lt;/div&gt; respectively.&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Lease Financing Obligation&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;Based on the terms of the lease agreement for the new research facility in Birmingham, Alabama, the Company had construction period risks during the construction period and the Company was deemed the owner of the building (for accounting purposes only) during the construction period, which ended in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016.&lt;/div&gt; Accordingly, the Company recorded an asset of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$1,589&lt;/div&gt; at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2015, &lt;/div&gt;representing the Company&amp;#x2019;s leased portion of the building and recorded a corresponding liability. Upon completion of leasehold improvement construction, the Company did &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; meet the sale-leaseback criteria for de-recognition of the building asset and liability. Therefore, the lease is accounted for as a financing obligation. The asset will be depreciated over the expected duration of the lease, and rental payments will be treated as principal and interest payments on the lease financing obligation liability. The underlying accounting for this transaction has &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; impact on cash flows associated with the underlying lease and or construction in process.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;At each of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016,&lt;/div&gt; the lease financing obligation balance was &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$2,704&lt;/div&gt; and was recorded as a long-term liability on the consolidated balance sheets. The remaining future minimum payments under the lease financing obligation are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$4,334.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:CommitmentsAndContingenciesDisclosureTextBlock>
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  <us-gaap:ComprehensiveIncomePolicyPolicyTextBlock contextRef="d_2017-01-01_2017-12-31" id="c27758327">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Accumulated Other Comprehensive Loss&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;Accumulated other comprehensive loss is comprised of unrealized gains and losses on available-for-sale investments and is disclosed as a separate component of stockholders&amp;#x2019; equity. Amounts reclassified from accumulated other comprehensive loss are recorded as interest and other income on the Consolidated Statements of Comprehensive Loss. During &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016,&lt;/div&gt; a realized loss of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$1&lt;/div&gt; and a realized gain of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$11,&lt;/div&gt; respectively, were reclassified out of accumulated other comprehensive loss.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:ComprehensiveIncomePolicyPolicyTextBlock>
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  <us-gaap:CostsAndExpenses contextRef="d_2015-01-01_2015-12-31" decimals="-3" id="c27755590" unitRef="iso4217-usd">87701000</us-gaap:CostsAndExpenses>
  <us-gaap:DebtDisclosureTextBlock contextRef="d_2017-01-01_2017-12-31" id="s806589">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4&lt;/div&gt; &amp;#x2014; Senior Credit Facility&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;On &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; September 23, 2016, &lt;/div&gt;the Company closed a &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$23,000&lt;/div&gt; Senior Credit Facility with an affiliate of MidCap Financial Services, LLC (&amp;#x201c;MidCap&amp;#x201d;), as administrative agent (the &amp;#x201c;Senior Credit Facility&amp;#x201d;). The Senior Credit Facility was fully funded at closing and bears a variable interest rate of LIBOR (which shall &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; be less than &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.5%&lt;/div&gt;) plus &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8%.&lt;/div&gt; The Senior Credit Facility includes an interest-only payment period through fiscal &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt; and scheduled monthly principal and interest payments for the subsequent &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;40&lt;/div&gt; months. The Company has the option to repay the Senior Credit Facility at any time prior to the scheduled principal repayment date subject to prepayment fees. Final payment of the Senior Credit Facility is subject to a final payment fee equal to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5%&lt;/div&gt; of the principal funded under the Senior Credit Facility.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt"&gt;As of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;the Company had borrowings of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$23,000&lt;/div&gt; under the Senior Credit Facility bearing an interest rate of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.4%.&lt;/div&gt; The carrying amount of the debt approximates its fair value based on prevailing interest rates as of the balance sheet date. Scheduled principal repayments of the Senior Credit Facility are as follows:&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td colspan="5" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Principal Payments&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 72%; font-size: 10pt; text-align: justify"&gt;2018&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 25%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,900&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,900&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;2020&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,900&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: justify; padding-bottom: 1pt"&gt;2021&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,300&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: justify; padding-bottom: 2.25pt"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;23,000&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;The debt agreement contains &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;two&lt;/div&gt; provisions that if deemed probable would create the recognition of an embedded feature; however, at this time we do &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; believe either provision is probable.&lt;/div&gt;&lt;/div&gt;</us-gaap:DebtDisclosureTextBlock>
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  <us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock contextRef="d_2017-01-01_2017-12-31" id="s806594">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Note&amp;nbsp;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7&lt;/div&gt;&amp;nbsp;&amp;#x2014; Stock-Based Compensation&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 13.5pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Stock Incentive Plan&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;As of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; the Company had &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;two&lt;/div&gt; stock-based employee compensation plans, the Stock Incentive Plan (&amp;#x201c;Incentive Plan&amp;#x201d;) and the Employee Stock Purchase Plan (&amp;#x201c;ESPP&amp;#x201d;). The Incentive Plan was amended and restated in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; April 2017 &lt;/div&gt;and approved by the Company&amp;#x2019;s stockholders in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; May 2017. &lt;/div&gt;The ESPP was amended and restated in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; March 2014 &lt;/div&gt;and approved by the Company&amp;#x2019;s stockholders in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; May 2014. &lt;/div&gt;Stock-based compensation expense of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$12,621&lt;/div&gt; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$12,421&lt;/div&gt; of expense related to the Incentive Plan, &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$200&lt;/div&gt; of expense related to the ESPP) was recognized during &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; while &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$8,487&lt;/div&gt; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$8,340&lt;/div&gt; of expense related to the Incentive Plan, &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$147&lt;/div&gt; of expense related to the ESPP) was recognized during &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016,&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$9,705&lt;/div&gt; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$9,485&lt;/div&gt; of expense related to the Incentive Plan, &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$220&lt;/div&gt; of expense related to the ESPP) was recognized during &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015.&lt;/div&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company accounts for stock-based compensation in accordance with FASB authoritative guidance regarding share-based payments. Total stock-based compensation was allocated as follows:&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year Ended December&amp;nbsp;31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 55%; font-size: 10pt; text-align: left"&gt;Research and development&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,602&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,088&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,580&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;General and administrative&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,019&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,399&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,125&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt"&gt;Total stock-based compensation expense&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,621&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,487&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,705&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company grants stock option awards and restricted stock unit awards to its employees, directors, and consultants under the Incentive Plan. Under the Incentive Plan, stock option awards are granted with an exercise price equal to the market price of the Company&amp;#x2019;s stock at the date of grant. Commencing &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; March&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2011,&lt;/div&gt; stock option awards and restricted stock units granted to employees generally vest &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;25%&lt;/div&gt; each year until fully vested after &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;four&lt;/div&gt; years. In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January 2013, &lt;/div&gt;the Company made retention grants of stock option awards and restricted stock units. These awards vest &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;50%&lt;/div&gt; each year until fully vested after &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;two&lt;/div&gt; years. In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; August 2013 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 2014, &lt;/div&gt;the Company issued &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,032&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,250&lt;/div&gt; performance-based stock options, respectively. These awards vest upon successful completion of specific development milestones. As of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;75%&lt;/div&gt; of the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; August 2013 &lt;/div&gt;grants have vested based upon achievement of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;three&lt;/div&gt; milestones: (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt;) successful completion of the OPuS-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt; clinical trial, for which vesting occurred in the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;second&lt;/div&gt; quarter of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2014,&lt;/div&gt; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2&lt;/div&gt;) FDA approval of RAPIVAB, for which vesting occurred in the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;fourth&lt;/div&gt; quarter of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2014,&lt;/div&gt; and (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt;) initiation of a Phase &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt; clinical trial to evaluate the safety, pharmacokinetics and pharmacodynamics of orally-administered &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;BCX7353&lt;/div&gt; in healthy volunteers, for which vesting occurred in the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;second&lt;/div&gt; quarter of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015.&lt;/div&gt; As of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;30%&lt;/div&gt; of the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 2014 &lt;/div&gt;grants have vested based upon achievement of successful completion of an HAE patient trial with a &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2&lt;/div&gt;&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;nd&lt;/div&gt; generation compound, for which vesting occurred in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; August 2017. &lt;/div&gt;Thus, as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;25%&lt;/div&gt; of the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; August 2013 &lt;/div&gt;performance-based grants and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;70%&lt;/div&gt; of the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 2014 &lt;/div&gt;performance-based grants remain unvested and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; compensation expense has been recognized for these portions of the previously issued performance-based grants. Stock option awards granted to non-employee directors of the Company generally vest monthly over &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; year. All stock option awards have contractual terms of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5&lt;/div&gt; to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10&lt;/div&gt;&amp;nbsp;years. The vesting exercise provisions of all awards granted under the Incentive Plan are subject to acceleration in the event of certain stockholder-approved transactions, or upon the occurrence of a change in control as defined in the Incentive Plan.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 72; Value: 60 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;Related activity under the Incentive Plan is as follows:&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Awards&lt;br /&gt; Available&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Options&lt;br /&gt; Outstanding&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Weighted&lt;br /&gt; Average&lt;br /&gt; Exercise&lt;br /&gt; Price&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 55%; font-size: 10pt"&gt;Balance at December&amp;nbsp;31, 2014&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,362&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,605&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.21&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Restricted stock awards granted&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(163&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Restricted stock awards cancelled&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Stock option awards granted&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,217&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,217&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11.52&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Stock option awards exercised&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,118&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.36&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt"&gt;Stock option awards cancelled&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;33&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(33&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.87&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Balance at December&amp;nbsp;31, 2015&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,671&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.50&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Plan amendment&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,800&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Restricted stock awards granted&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(34&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Restricted stock awards cancelled&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;22&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Stock option awards granted&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,248&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,248&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.20&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Stock option awards exercised&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(107&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.63&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt"&gt;Stock option awards cancelled&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;717&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(717&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10.78&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Balance at December&amp;nbsp;31, 2016&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,273&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,095&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.55&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Plan amendment&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,000&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Restricted stock awards granted&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(22&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Restricted stock awards cancelled&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Stock option awards granted&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,915&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,915&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.33&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Stock option awards exercised&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(438&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.50&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt"&gt;Stock option awards cancelled&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,120&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,120&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.72&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;Balance at December&amp;nbsp;31, 2017&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;468&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14,452&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 2.25pt; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="padding-bottom: 2.25pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.06&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;As of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;there were &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;210&lt;/div&gt; restricted stock unit awards outstanding.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;For stock option awards granted under the Incentive Plan during &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015,&lt;/div&gt; the fair value was estimated on the date of grant using a Black-Scholes option pricing model and the assumptions noted in the table below. The weighted average grant date fair value of these awards granted during &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015&lt;/div&gt; was &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$3.63,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$2.17&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$7.72,&lt;/div&gt; respectively. The fair value of the stock option awards is amortized to expense over the vesting periods using a straight-line expense attribution method. The following explanations describe the assumptions used by the Company to value the stock option awards granted during &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016,&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015.&lt;/div&gt; The expected life is based on the average of the assumption that all outstanding stock option awards will be exercised at full vesting and the assumption that all outstanding stock option awards will be exercised at the midpoint of the current date (if already vested) or at full vesting (if &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; yet vested) and the full contractual term. The expected volatility represents the volatility over the most recent period corresponding with the expected life. The Company has assumed &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; expected dividend yield, as dividends have never been paid to stockholders and will &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; be for the foreseeable future. The weighted average risk-free interest rate is the implied yield currently available on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;zero&lt;/div&gt;-coupon government issues with a remaining term equal to the expected term.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Weighted Average Assumptions for Stock Option Awards Granted under the Incentive Plan&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 55%; font-size: 10pt; text-align: left"&gt;Expected Life&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Expected Volatility&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;82&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;82&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;81&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Expected Dividend Yield&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Risk-Free Interest Rate&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The total intrinsic value of stock option awards exercised under the Incentive Plan was &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$1,964&lt;/div&gt; during &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$339&lt;/div&gt; during &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$10,117&lt;/div&gt; during &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015.&lt;/div&gt; The intrinsic value represents the total proceeds (fair market value at the date of exercise, less the exercise price, times the number of stock option awards exercised) received by all individuals who exercised stock option awards during the period.&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The following table summarizes, at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; by price range: (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt;)&amp;nbsp;for stock option awards outstanding under the Incentive Plan, the number of stock option awards outstanding, their weighted average remaining life and their weighted average exercise price; and (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2&lt;/div&gt;)&amp;nbsp;for stock option awards exercisable under the Plan, the number of stock option awards exercisable and their weighted average exercise price:&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="9" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;Outstanding&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Exercisable&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid; text-align: left"&gt;Range&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;Number&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;Weighted&lt;br /&gt; Average&lt;br /&gt; Remaining&lt;br /&gt; Life&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Weighted&lt;br /&gt; Average&lt;br /&gt; Exercise&lt;br /&gt; Price&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Number&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Weighted&lt;br /&gt; Average&lt;br /&gt; Exercise&lt;br /&gt; Price&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: center"&gt;$&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; font-weight: bold; text-align: center"&gt;0&lt;/td&gt; &lt;td style="width: 3%; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;to&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,724&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 14%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 14%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.64&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 14%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,598&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 14%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.55&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center"&gt;3&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;to&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,303&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.5&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.63&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,066&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.31&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center"&gt;6&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;to&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;854&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.0&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.90&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;848&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.89&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center"&gt;9&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;to&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,857&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.1&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11.00&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,383&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10.98&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center"&gt;12&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;to&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;619&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.9&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12.29&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;308&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12.39&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"&gt;15&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;to&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;95&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.5&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.39&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;47&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.39&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-bottom: 2.25pt; font-size: 10pt; font-weight: bold; text-align: center"&gt;$&lt;/td&gt; &lt;td style="padding-bottom: 2.25pt; font-size: 10pt; font-weight: bold; text-align: center"&gt;0&lt;/td&gt; &lt;td style="padding-bottom: 2.25pt; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;to&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="padding-bottom: 2.25pt; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14,452&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 2.25pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.8&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 2.25pt; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="padding-bottom: 2.25pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.06&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,250&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 2.25pt; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="padding-bottom: 2.25pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.69&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;/div&gt; &lt;!-- Field: Page; Sequence: 73; Value: 60 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The weighted average remaining contractual life of stock option awards exercisable under the Incentive Plan at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt; was &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.1&lt;/div&gt; years.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The aggregate intrinsic value of stock option awards outstanding and exercisable under the Incentive Plan at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt; was &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$7,631.&lt;/div&gt; The aggregate intrinsic value represents the value (the period&amp;#x2019;s closing market price, less the exercise price, times the number of in-the-money stock option awards) that would have been received by all stock option award holders under the Incentive Plan had they exercised their stock option awards at the end of the year.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The total fair value of the stock option awards vested under the Incentive Plan was &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$9,310&lt;/div&gt; during &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$6,380&lt;/div&gt; during &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$4,492&lt;/div&gt; during &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;As of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; the number of stock option awards vested and expected to vest under the Incentive Plan is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13,267.&lt;/div&gt; The weighted average exercise price of these stock option awards is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$5.95&lt;/div&gt; and their weighted average remaining contractual life is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.8&lt;/div&gt; years.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The following table summarizes the changes in the number and weighted-average grant-date fair value of non-vested stock option awards during &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017:&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Non-Vested&lt;br /&gt; Stock Option&lt;br /&gt; Awards&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Weighted Average&lt;br /&gt; Grant-Date Fair&lt;br /&gt; Value&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 67%; font-size: 10pt"&gt;Balance December&amp;nbsp;31, 2016&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,598&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.40&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Stock option awards granted&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,915&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.63&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Stock option awards vested&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,916&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.86&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Stock option awards forfeited&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(395&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.84&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;Balance December&amp;nbsp;31, 2017&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,202&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.56&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;As of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; there was approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$17,785&lt;/div&gt; of total unrecognized compensation cost related to non-vested employee stock option awards and restricted stock units granted by the Company. That cost is expected to be recognized as follows: &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$7,607&lt;/div&gt; in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2018,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$5,452&lt;/div&gt; in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2019,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$3,365&lt;/div&gt; in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2020&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$1,361&lt;/div&gt; in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2021.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Employee Stock Purchase Plan&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company has reserved a total of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,475&lt;/div&gt;&amp;nbsp;shares of common stock to be purchased under the ESPP, of which &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;326&lt;/div&gt;&amp;nbsp;shares remain available for purchase at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017.&lt;/div&gt; Eligible employees &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;authorize up to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15%&lt;/div&gt; of their salary to purchase common stock at the lower of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;85%&lt;/div&gt; of the beginning or &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;85%&lt;/div&gt; of the ending price during &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;six&lt;/div&gt;-month purchase intervals. &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;No&lt;/div&gt; more than &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt; shares &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;be purchased by any &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; employee at the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;six&lt;/div&gt;-month purchase dates and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; employee &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;purchase stock having a fair market value at the commencement date of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$25&lt;/div&gt; or more in any &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; calendar year.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;There were &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;95,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;75&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;41&lt;/div&gt; shares of common stock purchased under the ESPP in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016,&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015,&lt;/div&gt; respectively, at a weighted average price per share of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$3.61,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$4.36&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$8.65,&lt;/div&gt; respectively. Expense of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$200,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$147&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$220&lt;/div&gt; related to the ESPP was recognized during &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016,&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015,&lt;/div&gt; respectively. Compensation expense for shares purchased under the ESPP related to the purchase discount and the &amp;#x201c;look-back&amp;#x201d; option were determined using a Black-Scholes option pricing model. The weighted average grant date fair values of shares granted under the ESPP during &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016,&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015,&lt;/div&gt; were &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$2.18,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$1.95&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$4.93,&lt;/div&gt; respectively.&lt;/div&gt; &lt;/div&gt;&lt;/div&gt;</us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock>
  <us-gaap:EarningsPerShareBasicAndDiluted contextRef="d_2017-01-01_2017-12-31" decimals="INF" id="c27755606" unitRef="iso4217-usd-per-xbrli-shares">-0.78</us-gaap:EarningsPerShareBasicAndDiluted>
  <us-gaap:EarningsPerShareBasicAndDiluted contextRef="d_2016-01-01_2016-12-31" decimals="INF" id="c27755607" unitRef="iso4217-usd-per-xbrli-shares">-0.75</us-gaap:EarningsPerShareBasicAndDiluted>
  <us-gaap:EarningsPerShareBasicAndDiluted contextRef="d_2015-01-01_2015-12-31" decimals="INF" id="c27755608" unitRef="iso4217-usd-per-xbrli-shares">-0.59</us-gaap:EarningsPerShareBasicAndDiluted>
  <us-gaap:EarningsPerShareBasicAndDiluted contextRef="d_2017-01-01_2017-03-31" decimals="INF" id="c27756838" unitRef="iso4217-usd-per-xbrli-shares">-0.19</us-gaap:EarningsPerShareBasicAndDiluted>
  <us-gaap:EarningsPerShareBasicAndDiluted contextRef="d_2017-04-01_2017-06-30" decimals="INF" id="c27756839" unitRef="iso4217-usd-per-xbrli-shares">-0.21</us-gaap:EarningsPerShareBasicAndDiluted>
  <us-gaap:EarningsPerShareBasicAndDiluted contextRef="d_2017-07-01_2017-09-30" decimals="INF" id="c27756840" unitRef="iso4217-usd-per-xbrli-shares">-0.18</us-gaap:EarningsPerShareBasicAndDiluted>
  <us-gaap:EarningsPerShareBasicAndDiluted contextRef="d_2017-10-01_2017-12-31" decimals="INF" id="c27756841" unitRef="iso4217-usd-per-xbrli-shares">-0.20</us-gaap:EarningsPerShareBasicAndDiluted>
  <us-gaap:EarningsPerShareBasicAndDiluted contextRef="d_2016-01-01_2016-03-31" decimals="INF" id="c27756851" unitRef="iso4217-usd-per-xbrli-shares">-0.31</us-gaap:EarningsPerShareBasicAndDiluted>
  <us-gaap:EarningsPerShareBasicAndDiluted contextRef="d_2016-04-01_2016-06-30" decimals="INF" id="c27756852" unitRef="iso4217-usd-per-xbrli-shares">-0.22</us-gaap:EarningsPerShareBasicAndDiluted>
  <us-gaap:EarningsPerShareBasicAndDiluted contextRef="d_2016-07-01_2016-09-30" decimals="INF" id="c27756853" unitRef="iso4217-usd-per-xbrli-shares">-0.16</us-gaap:EarningsPerShareBasicAndDiluted>
  <us-gaap:EarningsPerShareBasicAndDiluted contextRef="d_2016-10-01_2016-12-31" decimals="INF" id="c27756854" unitRef="iso4217-usd-per-xbrli-shares">-0.06</us-gaap:EarningsPerShareBasicAndDiluted>
  <us-gaap:EarningsPerSharePolicyTextBlock contextRef="d_2017-01-01_2017-12-31" id="c27758335">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Net Loss Per Share&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;Net loss per share is based upon the weighted average number of common shares outstanding during the period. Diluted loss per share is equivalent to basic net loss per share for all periods presented herein because common equivalent shares from unexercised stock options, outstanding warrants, and common shares expected to be issued under the Company&amp;#x2019;s employee stock purchase plan were anti-dilutive. The calculation of diluted earnings per share for the years ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016,&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015&lt;/div&gt; does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; include &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,067,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,226&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,524&lt;/div&gt; respectively, of potential common shares as their impact would be anti-dilutive.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:EarningsPerSharePolicyTextBlock>
  <us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate contextRef="d_2018-01-01_2018-12-31_StatementScenarioAxis-ScenarioForecastMember" decimals="2" id="c27756626" unitRef="xbrli-pure">0.21</us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate>
  <us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate contextRef="d_2017-01-01_2017-12-31" decimals="2" id="c27756627" unitRef="xbrli-pure">0.35</us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate>
  <us-gaap:EmployeeRelatedLiabilitiesCurrent contextRef="i_2017-12-31" decimals="-3" id="c27756126" unitRef="iso4217-usd">2905000</us-gaap:EmployeeRelatedLiabilitiesCurrent>
  <us-gaap:EmployeeRelatedLiabilitiesCurrent contextRef="i_2016-12-31" decimals="-3" id="c27756127" unitRef="iso4217-usd">425000</us-gaap:EmployeeRelatedLiabilitiesCurrent>
  <us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized contextRef="i_2017-12-31" decimals="-3" id="c27756424" unitRef="iso4217-usd">17785000</us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized>
  <us-gaap:EmployeeStockOwnershipPlanESOPWeightedAveragePurchasePriceOfSharesPurchased contextRef="d_2017-01-01_2017-12-31_PlanNameAxis-EmployeeStockPurchasePlanMember" decimals="INF" id="c27756454" unitRef="iso4217-usd-per-xbrli-shares">3.61</us-gaap:EmployeeStockOwnershipPlanESOPWeightedAveragePurchasePriceOfSharesPurchased>
  <us-gaap:EmployeeStockOwnershipPlanESOPWeightedAveragePurchasePriceOfSharesPurchased contextRef="d_2016-01-01_2016-12-31_PlanNameAxis-EmployeeStockPurchasePlanMember" decimals="INF" id="c27756455" unitRef="iso4217-usd-per-xbrli-shares">4.36</us-gaap:EmployeeStockOwnershipPlanESOPWeightedAveragePurchasePriceOfSharesPurchased>
  <us-gaap:EmployeeStockOwnershipPlanESOPWeightedAveragePurchasePriceOfSharesPurchased contextRef="d_2015-01-01_2015-12-31_PlanNameAxis-EmployeeStockPurchasePlanMember" decimals="INF" id="c27756456" unitRef="iso4217-usd-per-xbrli-shares">8.65</us-gaap:EmployeeStockOwnershipPlanESOPWeightedAveragePurchasePriceOfSharesPurchased>
  <us-gaap:GainLossOnDispositionOfAssets1 contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c27755626" unitRef="iso4217-usd">12000</us-gaap:GainLossOnDispositionOfAssets1>
  <us-gaap:GainLossOnDispositionOfAssets1 contextRef="d_2016-01-01_2016-12-31" decimals="-3" id="c27755627" unitRef="iso4217-usd">-17000</us-gaap:GainLossOnDispositionOfAssets1>
  <us-gaap:GainLossOnDispositionOfAssets1 contextRef="d_2015-01-01_2015-12-31" id="c27755628" unitRef="iso4217-usd" xs:nil="true"/>
  <us-gaap:GainLossOnForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstruments contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c27755600" unitRef="iso4217-usd">-821000</us-gaap:GainLossOnForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstruments>
  <us-gaap:GainLossOnForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstruments contextRef="d_2016-01-01_2016-12-31" decimals="-3" id="c27755601" unitRef="iso4217-usd">-843000</us-gaap:GainLossOnForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstruments>
  <us-gaap:GainLossOnForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstruments contextRef="d_2015-01-01_2015-12-31" decimals="-3" id="c27755602" unitRef="iso4217-usd">1090000</us-gaap:GainLossOnForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstruments>
  <us-gaap:GovernmentContractReceivable contextRef="i_2015-03-31_TypeOfArrangementAxis-BaseContractMember" decimals="-3" id="c27756766" unitRef="iso4217-usd">16265000</us-gaap:GovernmentContractReceivable>
  <us-gaap:GovernmentContractReceivable contextRef="i_2015-03-31_TypeOfArrangementAxis-AdditionalDevelopmentOptionsMember" decimals="-3" id="c27756767" unitRef="iso4217-usd">22855000</us-gaap:GovernmentContractReceivable>
  <us-gaap:GovernmentContractReceivable contextRef="i_2015-03-31_TypeOfArrangementAxis-ASPRBARDAContractMember" decimals="-3" id="c27756768" unitRef="iso4217-usd">39120000</us-gaap:GovernmentContractReceivable>
  <us-gaap:IncomeTaxDisclosureTextBlock contextRef="d_2017-01-01_2017-12-31" id="s806600">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Note&amp;nbsp;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8&lt;/div&gt;&amp;nbsp;&amp;#x2014; Income Taxes&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company has incurred net losses since inception and, consequently, has &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; recorded any U.S.&amp;nbsp;Federal and state income tax expense or benefit. The differences between the Company&amp;#x2019;s effective tax rate and the statutory tax rate in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016,&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015&lt;/div&gt; are as follows:&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;Income tax benefit at federal statutory rate&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(23,024&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(19,300&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(15,057&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;State and local income taxes net of federal tax benefit&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,611&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,173&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(819&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Permanent items&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;910&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,057&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;560&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Rate change&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;71,155&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,080&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,012&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Expiration of attribute carryforwards&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;918&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;559&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;330&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Effect of ASU 2016-09&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5,949&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Research and development tax credits&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,977&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4,681&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(10,454&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Orphan drug credit&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;564&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,798&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,307&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Other&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,639&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;822&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(218&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Change in valuation allowance&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(42,625&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,838&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;20,339&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt"&gt;Income tax expense&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 2017, &lt;/div&gt;the Tax Cuts and Jobs Act (&amp;#x201c;TCJA&amp;#x201d;) was signed into law. Among other things, the TCJA permanently lowers the corporate federal income tax rate to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;21%&lt;/div&gt; from the existing maximum rate of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;35%,&lt;/div&gt; effective for tax years including or commencing &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January 1, 2018. &lt;/div&gt;As a result of the reduction of the corporate federal income tax rate to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;21%,&lt;/div&gt; U.S. GAAP requires companies to revalue their deferred tax assets and deferred tax liabilities as of the date of enactment, with the resulting tax effects accounted for in the reporting period of enactment. This revaluation resulted in a provision of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$73,474&lt;/div&gt; to income tax expense in continuing operations and a corresponding reduction in the valuation allowance. As a result, there was &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; impact on our consolidated statements of operations from the reduction in tax rate. The other provisions of the TCJA did &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; have a material impact on the consolidated financial statements.&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;We adopted ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09&lt;/div&gt; during the quarter ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; March 31, 2017. &lt;/div&gt;As a result of the adoption, the net federal and state operating losses deferred tax assets increased by &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$5,949&lt;/div&gt; million and were offset by a corresponding increase in the valuation allowance. The adoption of ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09&lt;/div&gt; had &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; impact on our consolidated balance sheets or consolidated statements of operations.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company recognizes the impact of a tax position in its financial statements if it is more likely than &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; that the position will be sustained on audit based on the technical merits of the position. The Company has concluded that it has an uncertain tax position pertaining to its research and development and orphan drug credit carryforwards. The Company has established these credits based on information and calculations it believes are appropriate and the best estimate of the underlying credit. Any changes to the Company&amp;#x2019;s unrecognized tax benefits are offset by an adjustment to the valuation allowance and there would be &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; impact on the Company&amp;#x2019;s financial statements. The Company does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; expect its unrecognized tax benefits to change significantly over the next &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12&lt;/div&gt; months.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 70%; font-size: 10pt"&gt;Balance at January&amp;nbsp;1,&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,255&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,085&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Additions to current period tax positions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;495&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,170&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Additions to prior period tax positions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Reductions to prior period tax provisions&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;Balance at December&amp;nbsp;31,&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,750&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,255&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;The Company&amp;#x2019;s ability to utilize the net operating loss and tax credit carryforwards in the future &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;be subject to substantial restrictions in the event of past or future ownership changes as defined in Section&amp;nbsp;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;382&lt;/div&gt; of the Internal Revenue Code of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1986,&lt;/div&gt; as amended and similar state tax law.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;Significant components of the Company&amp;#x2019;s deferred tax assets and liabilities are as follows:&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Deferred tax assets:&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 70%; font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Net federal and state operating losses&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;117,787&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;158,618&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Research and development credits&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;55,208&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;53,231&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Deferred revenue&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,854&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,484&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Stock-based compensation&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,424&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,952&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt; text-indent: 10pt"&gt;Other&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,046&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,849&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Total deferred tax assets&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;183,319&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;227,134&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Deferred tax liabilities:&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Fixed assets&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(421&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(674&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt"&gt;Foreign currency derivative&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(478&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,415&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Total deferred tax liabilities&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(899&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,089&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Valuation allowance&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(182,420&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(225,045&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt"&gt;Net deferred tax assets&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 75; Value: 60 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;The majority of the Company&amp;#x2019;s deferred tax assets relate to net operating loss and research and development carryforwards that can only be realized if the Company is profitable in future periods. It is uncertain whether the Company will realize any tax benefit related to these carryforwards. Accordingly, the Company has provided a full valuation allowance against the net deferred tax assets due to uncertainties as to their ultimate realization. The valuation allowance will remain at the full amount of the deferred tax assets until it is more likely than &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; that the related tax benefits will be realized. The Company&amp;#x2019;s valuation allowance decreased by &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$42,625&lt;/div&gt; in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt; primarily because of the remeasurement required by TCJA and increased by &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$19,837&lt;/div&gt; in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$20,339&lt;/div&gt; in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015.&lt;/div&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;As of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; the Company had federal operating loss carryforwards of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$484,705,&lt;/div&gt; state net operating loss carryforwards of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$431,470,&lt;/div&gt; and research and development and orphan drug credit carryforwards of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$59,958,&lt;/div&gt; which will expire at various dates from &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2018&lt;/div&gt; through &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2036.&lt;/div&gt; The federal losses begin to expire in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2018,&lt;/div&gt; the state losses begin to expire in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2018&lt;/div&gt; and the research and development credit carryforwards begin to expire in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2018.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;Tax years &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2014&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; remain open to examination by the major taxing jurisdictions to which the Company is subject. Additionally, years prior to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2014&lt;/div&gt; are also open to examination to the extent of loss and credit carryforwards from those years. The Company recognizes interest and penalties accrued related to unrecognized tax benefits as components of its income tax provision. However, there were &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; provisions or accruals for interest and penalties in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015.&lt;/div&gt;&lt;/div&gt; &lt;/div&gt;&lt;/div&gt;</us-gaap:IncomeTaxDisclosureTextBlock>
  <us-gaap:IncomeTaxExpenseBenefit contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c27756706" unitRef="iso4217-usd">0</us-gaap:IncomeTaxExpenseBenefit>
  <us-gaap:IncomeTaxExpenseBenefit contextRef="d_2016-01-01_2016-12-31" decimals="-3" id="c27756707" unitRef="iso4217-usd">0</us-gaap:IncomeTaxExpenseBenefit>
  <us-gaap:IncomeTaxExpenseBenefit contextRef="d_2015-01-01_2015-12-31" decimals="-3" id="c27756708" unitRef="iso4217-usd">0</us-gaap:IncomeTaxExpenseBenefit>
  <us-gaap:IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability contextRef="d_2017-12-01_2017-12-31" decimals="-3" id="c27756629" unitRef="iso4217-usd">73474000000</us-gaap:IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability>
  <us-gaap:IncomeTaxPolicyTextBlock contextRef="d_2017-01-01_2017-12-31" id="c27758326">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Income Taxes&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The liability method is used in the Company&amp;#x2019;s accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;On &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 22, 2017, &lt;/div&gt;the SEC staff issued Staff Accounting Bulletin &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;No.&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;118&lt;/div&gt; (&amp;#x201c;SAB &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;118&amp;#x201d;&lt;/div&gt;), which provides guidance on accounting for the tax effects of the Tax Cuts and Jobs Act (&amp;#x201c;TCJA&amp;#x201d;). SAB &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;118&lt;/div&gt; provides a measurement period that should &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; extend beyond &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; year from the TCJA enactment date for companies to complete the accounting under ASC &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;740,&lt;/div&gt; Income Taxes. As of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;the Company has &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; completed its accounting related to the enactment of the Tax Act.&amp;nbsp;However, the Company has made reasonable estimates of the effects on its income tax provision with respect to certain items, primarily the revaluation of its existing U.S. deferred tax balances as described in Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:IncomeTaxPolicyTextBlock>
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  <us-gaap:IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance contextRef="d_2016-01-01_2016-12-31" decimals="-3" id="c27756650" unitRef="iso4217-usd">19838000</us-gaap:IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance>
  <us-gaap:IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance contextRef="d_2015-01-01_2015-12-31" decimals="-3" id="c27756652" unitRef="iso4217-usd">20339000</us-gaap:IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance>
  <us-gaap:IncomeTaxReconciliationChangeInEnactedTaxRate contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c27756685" unitRef="iso4217-usd">71155000</us-gaap:IncomeTaxReconciliationChangeInEnactedTaxRate>
  <us-gaap:IncomeTaxReconciliationChangeInEnactedTaxRate contextRef="d_2016-01-01_2016-12-31" decimals="-3" id="c27756686" unitRef="iso4217-usd">1080000</us-gaap:IncomeTaxReconciliationChangeInEnactedTaxRate>
  <us-gaap:IncomeTaxReconciliationChangeInEnactedTaxRate contextRef="d_2015-01-01_2015-12-31" decimals="-3" id="c27756687" unitRef="iso4217-usd">1012000</us-gaap:IncomeTaxReconciliationChangeInEnactedTaxRate>
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  <us-gaap:IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate contextRef="d_2016-01-01_2016-12-31" decimals="-3" id="c27756674" unitRef="iso4217-usd">-19300000</us-gaap:IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate>
  <us-gaap:IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate contextRef="d_2015-01-01_2015-12-31" decimals="-3" id="c27756675" unitRef="iso4217-usd">-15057000</us-gaap:IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate>
  <us-gaap:IncomeTaxReconciliationNondeductibleExpense contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c27756682" unitRef="iso4217-usd">910000</us-gaap:IncomeTaxReconciliationNondeductibleExpense>
  <us-gaap:IncomeTaxReconciliationNondeductibleExpense contextRef="d_2016-01-01_2016-12-31" decimals="-3" id="c27756683" unitRef="iso4217-usd">1057000</us-gaap:IncomeTaxReconciliationNondeductibleExpense>
  <us-gaap:IncomeTaxReconciliationNondeductibleExpense contextRef="d_2015-01-01_2015-12-31" decimals="-3" id="c27756684" unitRef="iso4217-usd">560000</us-gaap:IncomeTaxReconciliationNondeductibleExpense>
  <us-gaap:IncomeTaxReconciliationOtherAdjustments contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c27756700" unitRef="iso4217-usd">1639000</us-gaap:IncomeTaxReconciliationOtherAdjustments>
  <us-gaap:IncomeTaxReconciliationOtherAdjustments contextRef="d_2016-01-01_2016-12-31" decimals="-3" id="c27756701" unitRef="iso4217-usd">822000</us-gaap:IncomeTaxReconciliationOtherAdjustments>
  <us-gaap:IncomeTaxReconciliationOtherAdjustments contextRef="d_2015-01-01_2015-12-31" decimals="-3" id="c27756702" unitRef="iso4217-usd">-218000</us-gaap:IncomeTaxReconciliationOtherAdjustments>
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  <us-gaap:InventoryNet contextRef="i_2017-12-31" id="c27755488" unitRef="iso4217-usd" xs:nil="true"/>
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  <us-gaap:InventoryPolicyTextBlock contextRef="d_2017-01-01_2017-12-31" id="c27758322">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Inventory&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;At &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016, &lt;/div&gt;the Company&amp;#x2019;s inventory consisted primarily of peramivir work in process and is being manufactured for the Company&amp;#x2019;s partners. Inventory is stated at the lower of cost and net realizable value, determined under the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;first&lt;/div&gt;-in, &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;first&lt;/div&gt;-out (&amp;#x201c;FIFO&amp;#x201d;) method, or market. The Company expenses costs related to the production of inventories as research and development expenses in the period incurred until such time it is believed that future economic benefit is expected to be recognized, which generally is reliant upon receipt of regulatory approval. Upon regulatory approval, the Company will capitalize subsequent costs related to the production of inventories.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:InventoryPolicyTextBlock>
  <us-gaap:InvestmentPolicyTextBlock contextRef="d_2017-01-01_2017-12-31" id="c27758319">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Investments&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company invests in high credit quality investments in accordance with its investment policy, which is designed to minimize the possibility of loss. The objective of the Company&amp;#x2019;s investment policy is to ensure the safety and preservation of invested funds, as well as maintaining liquidity sufficient to meet cash flow requirements. The Company places its excess cash with high credit quality financial institutions, commercial companies, and government agencies in order to limit the amount of its credit exposure. In accordance with its policy, the Company is able to invest in marketable debt securities that &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;consist of U.S. Government and government agency securities, money market and mutual fund investments, municipal and corporate notes and bonds, commercial paper and asset or mortgage-backed securities, among others. The Company&amp;#x2019;s investment policy requires it to purchase high-quality marketable securities with a maximum individual maturity of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;three&lt;/div&gt; years and requires an average portfolio maturity of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; more than &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18&lt;/div&gt; months. Some of the securities the Company invests in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;have market risk. This means that a change in prevailing interest rates &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;cause the principal amount of the investment to fluctuate. To minimize this risk, the Company schedules its investments with maturities that coincide with expected cash flow needs, thus avoiding the need to redeem an investment prior to its maturity date. Accordingly, the Company does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; believe it has a material exposure to interest rate risk arising from its investments. Generally, the Company&amp;#x2019;s investments are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; collateralized. The Company has &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; realized any significant losses from its investments.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 61; Value: 60 --&gt; &lt;!-- Field: /Page --&gt; &lt;div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company classifies all of its investments as available-for-sale. Unrealized gains and losses on investments are recognized in comprehensive loss, unless an unrealized loss is considered to be other than temporary, in which case the unrealized loss is charged to operations. The Company periodically reviews its investments for other than temporary declines in fair value below cost basis and whenever events or changes in circumstances indicate that the carrying amount of an asset &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; be recoverable. The Company believes the individual unrealized losses represent temporary declines primarily resulting from interest rate changes. Realized gains and losses are reflected in interest and other income in the Consolidated Statements of Comprehensive Loss and are determined using the specific identification method with transactions recorded on a settlement date basis. Investments with original maturities at date of purchase beyond &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;three&lt;/div&gt; months and which mature at or less than &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12&lt;/div&gt; months from the balance sheet date are classified as current. Investments with a maturity beyond &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12&lt;/div&gt; months from the balance sheet date are classified as long-term. At &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;the Company believes that the cost of its investments is recoverable in all material respects.&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The following tables summarize the fair value of the Company&amp;#x2019;s investments by type. The estimated fair values of the Company&amp;#x2019;s fixed income investments are classified as Level &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2&lt;/div&gt; in the fair value hierarchy as defined in U.S. GAAP. These valuations are based on observable direct and indirect inputs, primarily quoted prices of similar, but &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; identical, instruments in active markets or quoted prices for identical or similar instruments in markets that are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; active. These fair values are obtained from independent pricing services which utilize Level &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2&lt;/div&gt; inputs.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="19" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;December 31, 2017&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Amortized&lt;br /&gt; Cost&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Accrued&lt;br /&gt; Interest&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Gross&lt;br /&gt; Unrealized&lt;br /&gt; Gains&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Gross&lt;br /&gt; Unrealized&lt;br /&gt; Losses&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Estimated&lt;br /&gt; Fair Value&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 35%; font-size: 10pt; text-align: left; text-indent: -10pt; padding-left: 10pt"&gt;Obligations of U.S. Government and its agencies&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;60,121&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;177&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(122&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;60,176&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Corporate debt securities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;34,021&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;203&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(108&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;34,116&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Certificates of deposit&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,099&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;32&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(14&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,118&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt"&gt;Total investments&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;105,241&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;412&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(244&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;105,410&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="19" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;December 31, 2016&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Amortized&lt;br /&gt; Cost&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Accrued&lt;br /&gt; Interest&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Gross&lt;br /&gt; Unrealized&lt;br /&gt; Gains&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Gross&lt;br /&gt; Unrealized&lt;br /&gt; Losses&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Estimated&lt;br /&gt; Fair Value&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 35%; font-size: 10pt; text-align: left; text-indent: -10pt; padding-left: 10pt"&gt;Obligations of U.S. Government and its agencies&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;20,266&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;34&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;20,298&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Corporate debt securities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,179&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;26&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,199&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Certificates of deposit&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14,962&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(11&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14,975&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt"&gt;Total investments&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;41,407&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;77&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(23&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;41,472&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The following table summarizes the scheduled maturity for the Company&amp;#x2019;s investments at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 67%; font-size: 10pt; text-align: left"&gt;Maturing in one year or less&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;64,115&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;32,546&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Maturing after one year through two years&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;34,257&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,926&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Maturing after two years&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,038&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt"&gt;Total investments&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;105,410&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;41,472&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:InvestmentPolicyTextBlock>
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  <us-gaap:NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock contextRef="d_2017-01-01_2017-12-31" id="s806608">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Note&amp;nbsp;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12&lt;/div&gt;&amp;nbsp;&amp;#x2014; Recent Accounting Pronouncements&lt;/div&gt; &amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;On &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 22, 2017, &lt;/div&gt;the SEC staff issued Staff Accounting Bulletin &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;No.&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;118&lt;/div&gt; (&amp;#x201c;SAB &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;118&amp;#x201d;&lt;/div&gt;), which provides guidance on accounting for the tax effects of the Tax Cuts and Jobs Act (&amp;#x201c;TCJA&amp;#x201d;). SAB &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;118&lt;/div&gt; provides a measurement period that should &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; extend beyond &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; year from the TCJA enactment date for companies to complete the accounting under ASC &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;740,&lt;/div&gt; Income Taxes. As of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;the Company has &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; completed its accounting related to the enactment of the Tax Act.&amp;nbsp;However, the Company has made reasonable estimates of the effects on its income tax provision with respect to certain items, primarily the revaluation of its existing U.S. deferred tax balances as described in Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; November 2016, &lt;/div&gt;the Financial Accounting Standards Board (&amp;#x201c;FASB&amp;#x201d;) issued Accounting Standards Update &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18:&lt;/div&gt; &lt;div style="display: inline; font-style: italic;"&gt;Statement of Cash Flows (Topic &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;230&lt;/div&gt;): Restricted Cash&lt;/div&gt; (&amp;#x201c;ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18&amp;#x201d;&lt;/div&gt;). The new standard requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The standard is effective for annual periods beginning after &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; and interim periods within those annual reporting periods. Early adoption is permitted. The Company is currently evaluating the impact of this update on its consolidated financial statements.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; August 2016, &lt;/div&gt;the FASB issued Accounting Standards Update &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;No.&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15:&lt;/div&gt; &lt;div style="display: inline; font-style: italic;"&gt;Statement of Cash Flows (Topic &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;230&lt;/div&gt;): Classification of Certain Cash Receipts and Cash Payments&lt;/div&gt; (&amp;#x201c;ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15&amp;#x201d;&lt;/div&gt;). The amendments in this update clarify how entities should classify certain cash receipts and cash payments on the Consolidated Statements of Cash Flows. The new guidance also clarifies how the predominance principle should be applied when cash receipts and cash payments have aspects of more than &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; class of cash flows. ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15&lt;/div&gt; will be effective for annual periods beginning after &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 15, 2017, &lt;/div&gt;including interim periods within those annual reporting periods, but early adoption is permitted. The Company is currently evaluating the impact of this update on its consolidated financial statements.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 79; Value: 60 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; March 2016, &lt;/div&gt;the FASB issued Accounting Standards Update &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;No.&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09:&lt;/div&gt; &lt;div style="display: inline; font-style: italic;"&gt;Compensation - Stock Compensation (Topic &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;718&lt;/div&gt;): Improvements to Employee Share-Based Payment Accounting&lt;/div&gt; (&amp;#x201c;ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09&amp;#x201d;&lt;/div&gt;). The amendments in this update simplify several aspects of the accounting for employee share-based payment transactions, including the accounting for income taxes, forfeitures and statutory tax withholding requirements, as well as classification in the statement of cash flows. ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09&lt;/div&gt; eliminates the requirement that excess tax benefits be realized as a reduction in current taxes payable before the associated tax benefit can be recognized as an increase in paid in capital. Under ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09,&lt;/div&gt; these previously unrecognized deferred tax assets were recognized on a modified retrospective basis as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January 1, 2017, &lt;/div&gt;the start of the year in which the Company adopted ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09.&lt;/div&gt; The U.S. federal and state net operating losses and credits recognized as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January 1, 2017 &lt;/div&gt;have been offset by a full valuation allowance. As a result, there is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; cumulative-effect adjustment to retained earnings as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017. &lt;/div&gt;The Company elected &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; to change its policy on accounting for forfeitures and continues to estimate the total number of awards for which the requisite service period will &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; be rendered. The Company adopted ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09&lt;/div&gt; as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January 1, 2017. &lt;/div&gt;Adoption of ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09&lt;/div&gt; did &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; have a material impact on the Company&amp;#x2019;s consolidated financial statements.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; February 2016, &lt;/div&gt;the FASB issued Accounting Standards Update &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;No.&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;02:&lt;/div&gt; &lt;div style="display: inline; font-style: italic;"&gt;Leases (Topic &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;842&lt;/div&gt;)&lt;/div&gt; (&amp;#x201c;ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;02&amp;#x201d;&lt;/div&gt;). The amendments in this update require lessees, among other things, to recognize lease assets and lease liabilities on the balance sheet for all leases with terms greater than &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12&lt;/div&gt; months. This update also introduces new disclosure requirements for leasing arrangements. ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;02&lt;/div&gt; will be effective for the Company in fiscal year &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2019,&lt;/div&gt; but early adoption is permitted. The Company is currently evaluating the impact of this update on its consolidated financial statements.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January 2016, &lt;/div&gt;the FASB issued Accounting Standards Update &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;No.&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;01:&lt;/div&gt; &lt;div style="display: inline; font-style: italic;"&gt;Financial Instruments - Overall (Subtopic &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;825&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10&lt;/div&gt;): Recognition and Measurement of Financial Assets and Financial Liabilities&lt;/div&gt; (&amp;#x201c;ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;01&amp;#x201d;&lt;/div&gt;). The amendments in this update address certain aspects of recognition, measurement, presentation and disclosure of financial instruments. In particular, the amendments in this update supersede, for public business entities, the requirement to disclose the methods and significant assumptions used in calculating the fair value of financial instruments required to be disclosed for financial instruments measured at amortized cost on the balance sheet. ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;01&lt;/div&gt; will be effective for the Company in fiscal year &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2018,&lt;/div&gt; but early adoption is permitted. The Company does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; expect this standard to have a material impact on its consolidated financial statements.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; July 2015, &lt;/div&gt;the FASB issued Accounting Standards Update &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;No.&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11:&lt;/div&gt; &lt;div style="display: inline; font-style: italic;"&gt;Inventory (Topic &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;330&lt;/div&gt;): Simplifying the Measurement of Inventory&lt;/div&gt; (&amp;#x201c;ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11&amp;#x201d;&lt;/div&gt;), which changes the measurement principle for inventory from the lower of cost or market to the lower of cost and net realizable value. ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11&lt;/div&gt; defines net realizable value as the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. The update does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; apply to inventory that is measured using last-in, &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;first&lt;/div&gt;-out or the retail inventory method. The update applies to all other inventory, which includes inventory that is measured using &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;first&lt;/div&gt;-in, &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;first&lt;/div&gt;-out or average cost methods. The amendments in ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11&lt;/div&gt; are effective for the Company for fiscal years, and the interim periods within those years, beginning after &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 15, 2016. &lt;/div&gt;The Company adopted ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11&lt;/div&gt; as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January 1, 2017. &lt;/div&gt;Adoption did &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; have a material impact on its consolidated financial statements.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; May 2014, &lt;/div&gt;the FASB issued Standards Update &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;No.&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2014&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09:&lt;/div&gt; &lt;div style="display: inline; font-style: italic;"&gt;Revenue from Contracts with Customers (Topic &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;606&lt;/div&gt;)&lt;/div&gt; (&amp;#x201c;ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2014&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09&amp;#x201d;&lt;/div&gt;), which provides a single, comprehensive revenue recognition model for all contracts with customers. The core principal of this ASU is that an entity should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2014&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09&lt;/div&gt; also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; July 2015, &lt;/div&gt;the FASB finalized a &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; year delay in the effective date of this standard, which will now be effective &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January 1, 2018; &lt;/div&gt;however, early adoption is permitted any time after the original effective date, &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January 1, 2017. &lt;/div&gt;Companies can transition to the new standard under the full retrospective method or the modified retrospective method. The Company will adopt the standard effective &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January 1, 2018 &lt;/div&gt;and expects to utilize the modified retrospective methodology. The Company is continuing to evaluate the effect that the standard will have on its consolidated financial statements and related disclosures.&lt;/div&gt; &lt;/div&gt;&lt;/div&gt;</us-gaap:NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock>
  <us-gaap:NotesPayableCurrent contextRef="i_2017-12-31" decimals="-3" id="c27755519" unitRef="iso4217-usd">28682000</us-gaap:NotesPayableCurrent>
  <us-gaap:NotesPayableCurrent contextRef="i_2016-12-31" decimals="-3" id="c27755520" unitRef="iso4217-usd">28243000</us-gaap:NotesPayableCurrent>
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  <us-gaap:OperatingIncomeLoss contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c27755591" unitRef="iso4217-usd">-57411000</us-gaap:OperatingIncomeLoss>
  <us-gaap:OperatingIncomeLoss contextRef="d_2016-01-01_2016-12-31" decimals="-3" id="c27755592" unitRef="iso4217-usd">-48607000</us-gaap:OperatingIncomeLoss>
  <us-gaap:OperatingIncomeLoss contextRef="d_2015-01-01_2015-12-31" decimals="-3" id="c27755593" unitRef="iso4217-usd">-39444000</us-gaap:OperatingIncomeLoss>
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margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 67%; font-size: 10pt; text-align: left"&gt;Furniture and fixtures&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;566&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;540&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Office equipment&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;146&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;141&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Software&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,125&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,117&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Laboratory equipment&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,984&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,252&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Leased equipment&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;152&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Leasehold improvements&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,405&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,294&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Building&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,495&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,495&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14,873&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14,839&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Less accumulated depreciation and amortization&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5,327&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4,917&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt"&gt;Property and equipment, net&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,546&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,922&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;Depreciation and amortization expense for the years ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015&lt;/div&gt; was &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$704,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$483&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$180,&lt;/div&gt; respectively.&lt;/div&gt;&lt;/div&gt;</us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock>
  <us-gaap:PropertyPlantAndEquipmentGross contextRef="i_2015-12-31_LeaseArrangementTypeAxis-BirminghamResearchFacilityMember_PropertyPlantAndEquipmentByTypeAxis-LeaseholdImprovementsMember" decimals="-3" id="c27755987" unitRef="iso4217-usd">1589000</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross contextRef="i_2017-12-31_PropertyPlantAndEquipmentByTypeAxis-FurnitureAndFixturesMember" decimals="-3" id="c27756174" unitRef="iso4217-usd">566000</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross contextRef="i_2016-12-31_PropertyPlantAndEquipmentByTypeAxis-FurnitureAndFixturesMember" decimals="-3" id="c27756175" unitRef="iso4217-usd">540000</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross contextRef="i_2017-12-31_PropertyPlantAndEquipmentByTypeAxis-OfficeEquipmentMember" decimals="-3" id="c27756176" unitRef="iso4217-usd">146000</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross contextRef="i_2016-12-31_PropertyPlantAndEquipmentByTypeAxis-OfficeEquipmentMember" decimals="-3" id="c27756177" unitRef="iso4217-usd">141000</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross contextRef="i_2017-12-31_PropertyPlantAndEquipmentByTypeAxis-SoftwareDevelopmentMember" decimals="-3" id="c27756178" unitRef="iso4217-usd">1125000</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross contextRef="i_2016-12-31_PropertyPlantAndEquipmentByTypeAxis-SoftwareDevelopmentMember" decimals="-3" id="c27756179" unitRef="iso4217-usd">1117000</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross contextRef="i_2017-12-31_PropertyPlantAndEquipmentByTypeAxis-LaboratoryEquipmentMember" decimals="-3" id="c27756180" unitRef="iso4217-usd">2984000</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross contextRef="i_2016-12-31_PropertyPlantAndEquipmentByTypeAxis-LaboratoryEquipmentMember" decimals="-3" id="c27756181" unitRef="iso4217-usd">3252000</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross contextRef="i_2017-12-31_PropertyPlantAndEquipmentByTypeAxis-LeasedEquipmentMember" decimals="-3" id="c27756182" unitRef="iso4217-usd">152000</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross contextRef="i_2016-12-31_PropertyPlantAndEquipmentByTypeAxis-LeasedEquipmentMember" id="c27756183" unitRef="iso4217-usd" xs:nil="true"/>
  <us-gaap:PropertyPlantAndEquipmentGross contextRef="i_2017-12-31_PropertyPlantAndEquipmentByTypeAxis-LeaseholdImprovementsMember" decimals="-3" id="c27756184" unitRef="iso4217-usd">8405000</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross contextRef="i_2016-12-31_PropertyPlantAndEquipmentByTypeAxis-LeaseholdImprovementsMember" decimals="-3" id="c27756185" unitRef="iso4217-usd">8294000</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross contextRef="i_2017-12-31_PropertyPlantAndEquipmentByTypeAxis-BuildingMember" decimals="-3" id="c27756186" unitRef="iso4217-usd">1495000</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross contextRef="i_2016-12-31_PropertyPlantAndEquipmentByTypeAxis-BuildingMember" decimals="-3" id="c27756187" unitRef="iso4217-usd">1495000</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross contextRef="i_2017-12-31" decimals="-3" id="c27756188" unitRef="iso4217-usd">14873000</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross contextRef="i_2016-12-31" decimals="-3" id="c27756189" unitRef="iso4217-usd">14839000</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentNet contextRef="i_2017-12-31" decimals="-3" id="c27756192" unitRef="iso4217-usd">9546000</us-gaap:PropertyPlantAndEquipmentNet>
  <us-gaap:PropertyPlantAndEquipmentNet contextRef="i_2016-12-31" decimals="-3" id="c27756193" unitRef="iso4217-usd">9922000</us-gaap:PropertyPlantAndEquipmentNet>
  <us-gaap:PropertyPlantAndEquipmentPolicyTextBlock contextRef="d_2017-01-01_2017-12-31" id="c27758323">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Property and Equipment&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;Property and equipment are recorded at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Computer equipment is depreciated over a life of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;three&lt;/div&gt; years. Laboratory equipment, office equipment, and software are depreciated over a life of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;five&lt;/div&gt; years. Furniture and fixtures are depreciated over a life of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;seven&lt;/div&gt; years. Leasehold improvements are amortized over their estimated useful lives or the expected lease term, whichever is less. Property consists of a leased building which did &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; meet the sale-leaseback criteria and is recorded at its fair value, less depreciation. The building is being depreciated over a period equal to the expected term of the related lease.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;In accordance with U.S. GAAP, the Company periodically reviews its property and equipment for impairment when events or changes in circumstances indicate that the carrying amount of such assets &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; be recoverable. Determination of recoverability is based on an estimate of undiscounted future cash flows resulting from the use of the asset and its eventual disposition. In the event that such cash flows are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; expected to be sufficient to recover the carrying amount of the assets, the assets are written down to their estimated fair values. Property and equipment to be disposed of are reported at the lower of carrying amount or fair value less cost to sell.&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:PropertyPlantAndEquipmentPolicyTextBlock>
  <us-gaap:PropertyPlantAndEquipmentTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-22">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 67%; font-size: 10pt; text-align: left"&gt;Furniture and fixtures&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;566&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;540&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Office equipment&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;146&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;141&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Software&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,125&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,117&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Laboratory equipment&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,984&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,252&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Leased equipment&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;152&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Leasehold improvements&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,405&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,294&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Building&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,495&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,495&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14,873&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14,839&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Less accumulated depreciation and amortization&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5,327&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4,917&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt"&gt;Property and equipment, net&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,546&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,922&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</us-gaap:PropertyPlantAndEquipmentTextBlock>
  <us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="d_2017-01-01_2017-12-31_PropertyPlantAndEquipmentByTypeAxis-ComputerEquipmentMember" id="c27755915">P3Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
  <us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="d_2017-01-01_2017-12-31_PropertyPlantAndEquipmentByTypeAxis-LaboratoryEquipmentOfficeEquipmentAndSoftwareMember" id="c27755916">P5Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
  <us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="d_2017-01-01_2017-12-31_PropertyPlantAndEquipmentByTypeAxis-FurnitureAndFixturesMember" id="c27755917">P7Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
  <us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="d_2017-01-01_2017-12-31_LeaseArrangementTypeAxis-BirminghamResearchFacilityMember_PropertyPlantAndEquipmentByTypeAxis-LeaseholdImprovementsMember" id="c27755989">P20Y182D</us-gaap:PropertyPlantAndEquipmentUsefulLife>
  <us-gaap:QuarterlyFinancialInformationTextBlock contextRef="d_2017-01-01_2017-12-31" id="s806606">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Note&amp;nbsp;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11&lt;/div&gt;&amp;nbsp;&amp;#x2014; Quarterly Financial Information (Unaudited)&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;First&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Second&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Third&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Fourth&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;2017 Quarters&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 48%; font-size: 10pt; text-indent: 10pt"&gt;Revenues&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,437&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,099&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,760&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,890&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Net Loss&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(14,219&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(16,886&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(15,134&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(19,543&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Basic and diluted net loss per share&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.19&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.21&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.18&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.20&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;2016 Quarters&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-indent: 10pt"&gt;Revenues&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,820&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,787&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,763&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,983&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Net Loss&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(22,832&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(16,281&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(11,528&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4,503&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Basic and diluted net loss per share&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.31&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.22&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.16&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.06&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt;&lt;/div&gt;</us-gaap:QuarterlyFinancialInformationTextBlock>
  <us-gaap:ReceivablesNetCurrent contextRef="i_2017-12-31_AccountsNotesLoansAndFinancingReceivablesByBillingStatusTypeAxis-BilledRevenuesMember_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis-USDepartmentOfHealthAndHumanServicesMember" decimals="-3" id="c27756093" unitRef="iso4217-usd">42000</us-gaap:ReceivablesNetCurrent>
  <us-gaap:ReceivablesNetCurrent contextRef="i_2017-12-31_AccountsNotesLoansAndFinancingReceivablesByBillingStatusTypeAxis-UnbilledRevenuesMember_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis-USDepartmentOfHealthAndHumanServicesMember" decimals="-3" id="c27756094" unitRef="iso4217-usd">2020000</us-gaap:ReceivablesNetCurrent>
  <us-gaap:ReceivablesNetCurrent contextRef="i_2017-12-31_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis-USDepartmentOfHealthAndHumanServicesMember" decimals="-3" id="c27756095" unitRef="iso4217-usd">2062000</us-gaap:ReceivablesNetCurrent>
  <us-gaap:ReceivablesNetCurrent contextRef="i_2017-12-31_AccountsNotesLoansAndFinancingReceivablesByBillingStatusTypeAxis-BilledRevenuesMember_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis-ShionogiAndCoLtdMember" decimals="-3" id="c27756096" unitRef="iso4217-usd">1600000</us-gaap:ReceivablesNetCurrent>
  <us-gaap:ReceivablesNetCurrent contextRef="i_2017-12-31_AccountsNotesLoansAndFinancingReceivablesByBillingStatusTypeAxis-UnbilledRevenuesMember_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis-ShionogiAndCoLtdMember" id="c27756097" unitRef="iso4217-usd" xs:nil="true"/>
  <us-gaap:ReceivablesNetCurrent contextRef="i_2017-12-31_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis-ShionogiAndCoLtdMember" decimals="-3" id="c27756098" unitRef="iso4217-usd">1600000</us-gaap:ReceivablesNetCurrent>
  <us-gaap:ReceivablesNetCurrent contextRef="i_2017-12-31_AccountsNotesLoansAndFinancingReceivablesByBillingStatusTypeAxis-BilledRevenuesMember_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis-GreenCrossCorporationMember" decimals="-3" id="c27756099" unitRef="iso4217-usd">1388000</us-gaap:ReceivablesNetCurrent>
  <us-gaap:ReceivablesNetCurrent contextRef="i_2017-12-31_AccountsNotesLoansAndFinancingReceivablesByBillingStatusTypeAxis-UnbilledRevenuesMember_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis-GreenCrossCorporationMember" decimals="-3" id="c27756100" unitRef="iso4217-usd">28000</us-gaap:ReceivablesNetCurrent>
  <us-gaap:ReceivablesNetCurrent contextRef="i_2017-12-31_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis-GreenCrossCorporationMember" decimals="-3" id="c27756101" unitRef="iso4217-usd">1416000</us-gaap:ReceivablesNetCurrent>
  <us-gaap:ReceivablesNetCurrent contextRef="i_2017-12-31_AccountsNotesLoansAndFinancingReceivablesByBillingStatusTypeAxis-BilledRevenuesMember_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis-MundipharmaInternationalHoldingsLimitedMember" decimals="-3" id="c27756102" unitRef="iso4217-usd">47000</us-gaap:ReceivablesNetCurrent>
  <us-gaap:ReceivablesNetCurrent contextRef="i_2017-12-31_AccountsNotesLoansAndFinancingReceivablesByBillingStatusTypeAxis-UnbilledRevenuesMember_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis-MundipharmaInternationalHoldingsLimitedMember" id="c27756103" unitRef="iso4217-usd" xs:nil="true"/>
  <us-gaap:ReceivablesNetCurrent contextRef="i_2017-12-31_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis-MundipharmaInternationalHoldingsLimitedMember" decimals="-3" id="c27756104" unitRef="iso4217-usd">47000</us-gaap:ReceivablesNetCurrent>
  <us-gaap:ReceivablesNetCurrent contextRef="i_2017-12-31_AccountsNotesLoansAndFinancingReceivablesByBillingStatusTypeAxis-BilledRevenuesMember_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis-SeqirusUKLimitedMember" decimals="-3" id="c27756105" unitRef="iso4217-usd">825000</us-gaap:ReceivablesNetCurrent>
  <us-gaap:ReceivablesNetCurrent contextRef="i_2017-12-31_AccountsNotesLoansAndFinancingReceivablesByBillingStatusTypeAxis-UnbilledRevenuesMember_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis-SeqirusUKLimitedMember" decimals="-3" id="c27756106" unitRef="iso4217-usd">167000</us-gaap:ReceivablesNetCurrent>
  <us-gaap:ReceivablesNetCurrent contextRef="i_2017-12-31_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis-SeqirusUKLimitedMember" decimals="-3" id="c27756107" unitRef="iso4217-usd">992000</us-gaap:ReceivablesNetCurrent>
  <us-gaap:ReceivablesNetCurrent contextRef="i_2017-12-31_AccountsNotesLoansAndFinancingReceivablesByBillingStatusTypeAxis-BilledRevenuesMember" decimals="-3" id="c27756108" unitRef="iso4217-usd">3902000</us-gaap:ReceivablesNetCurrent>
  <us-gaap:ReceivablesNetCurrent contextRef="i_2017-12-31_AccountsNotesLoansAndFinancingReceivablesByBillingStatusTypeAxis-UnbilledRevenuesMember" decimals="-3" id="c27756109" unitRef="iso4217-usd">2215000</us-gaap:ReceivablesNetCurrent>
  <us-gaap:ReceivablesNetCurrent contextRef="i_2017-12-31" decimals="-3" id="c27756110" unitRef="iso4217-usd">6117000</us-gaap:ReceivablesNetCurrent>
  <us-gaap:ReceivablesNetCurrent contextRef="i_2016-12-31_AccountsNotesLoansAndFinancingReceivablesByBillingStatusTypeAxis-BilledRevenuesMember_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis-USDepartmentOfHealthAndHumanServicesMember" id="c27756111" unitRef="iso4217-usd" xs:nil="true"/>
  <us-gaap:ReceivablesNetCurrent contextRef="i_2016-12-31_AccountsNotesLoansAndFinancingReceivablesByBillingStatusTypeAxis-UnbilledRevenuesMember_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis-USDepartmentOfHealthAndHumanServicesMember" decimals="-3" id="c27756112" unitRef="iso4217-usd">3495000</us-gaap:ReceivablesNetCurrent>
  <us-gaap:ReceivablesNetCurrent contextRef="i_2016-12-31_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis-USDepartmentOfHealthAndHumanServicesMember" decimals="-3" id="c27756113" unitRef="iso4217-usd">3495000</us-gaap:ReceivablesNetCurrent>
  <us-gaap:ReceivablesNetCurrent contextRef="i_2016-12-31_AccountsNotesLoansAndFinancingReceivablesByBillingStatusTypeAxis-BilledRevenuesMember_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis-ShionogiAndCoLtdMember" decimals="-3" id="c27756114" unitRef="iso4217-usd">3451000</us-gaap:ReceivablesNetCurrent>
  <us-gaap:ReceivablesNetCurrent contextRef="i_2016-12-31_AccountsNotesLoansAndFinancingReceivablesByBillingStatusTypeAxis-UnbilledRevenuesMember_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis-ShionogiAndCoLtdMember" id="c27756115" unitRef="iso4217-usd" xs:nil="true"/>
  <us-gaap:ReceivablesNetCurrent contextRef="i_2016-12-31_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis-ShionogiAndCoLtdMember" decimals="-3" id="c27756116" unitRef="iso4217-usd">3451000</us-gaap:ReceivablesNetCurrent>
  <us-gaap:ReceivablesNetCurrent contextRef="i_2016-12-31_AccountsNotesLoansAndFinancingReceivablesByBillingStatusTypeAxis-BilledRevenuesMember_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis-GreenCrossCorporationMember" decimals="-3" id="c27756117" unitRef="iso4217-usd">686000</us-gaap:ReceivablesNetCurrent>
  <us-gaap:ReceivablesNetCurrent contextRef="i_2016-12-31_AccountsNotesLoansAndFinancingReceivablesByBillingStatusTypeAxis-UnbilledRevenuesMember_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis-GreenCrossCorporationMember" id="c27756118" unitRef="iso4217-usd" xs:nil="true"/>
  <us-gaap:ReceivablesNetCurrent contextRef="i_2016-12-31_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis-GreenCrossCorporationMember" decimals="-3" id="c27756119" unitRef="iso4217-usd">686000</us-gaap:ReceivablesNetCurrent>
  <us-gaap:ReceivablesNetCurrent contextRef="i_2016-12-31_AccountsNotesLoansAndFinancingReceivablesByBillingStatusTypeAxis-BilledRevenuesMember_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis-SeqirusUKLimitedMember" decimals="-3" id="c27756120" unitRef="iso4217-usd">957000</us-gaap:ReceivablesNetCurrent>
  <us-gaap:ReceivablesNetCurrent contextRef="i_2016-12-31_AccountsNotesLoansAndFinancingReceivablesByBillingStatusTypeAxis-UnbilledRevenuesMember_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis-SeqirusUKLimitedMember" decimals="-3" id="c27756121" unitRef="iso4217-usd">179000</us-gaap:ReceivablesNetCurrent>
  <us-gaap:ReceivablesNetCurrent contextRef="i_2016-12-31_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis-SeqirusUKLimitedMember" decimals="-3" id="c27756122" unitRef="iso4217-usd">1136000</us-gaap:ReceivablesNetCurrent>
  <us-gaap:ReceivablesNetCurrent contextRef="i_2016-12-31_AccountsNotesLoansAndFinancingReceivablesByBillingStatusTypeAxis-BilledRevenuesMember" decimals="-3" id="c27756123" unitRef="iso4217-usd">5094000</us-gaap:ReceivablesNetCurrent>
  <us-gaap:ReceivablesNetCurrent contextRef="i_2016-12-31_AccountsNotesLoansAndFinancingReceivablesByBillingStatusTypeAxis-UnbilledRevenuesMember" decimals="-3" id="c27756124" unitRef="iso4217-usd">3674000</us-gaap:ReceivablesNetCurrent>
  <us-gaap:ReceivablesNetCurrent contextRef="i_2016-12-31" decimals="-3" id="c27756125" unitRef="iso4217-usd">8768000</us-gaap:ReceivablesNetCurrent>
  <us-gaap:ReceivablesPolicyTextBlock contextRef="d_2017-01-01_2017-12-31" id="c27758338">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Receivable from Collaborations&lt;/div&gt;&lt;/div&gt; &amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;Receivables from collaborations are recorded for amounts due to the Company related to reimbursable research and development costs from the U.S. Department of Health and Human Services, royalty receivables from Shionogi, Green Cross Corporation (&amp;#x201c;Green Cross&amp;#x201d;), Mundipharma International Holdings Limited (&amp;#x201c;Mundipharma&amp;#x201d;) and Seqirus UK Limited (&amp;#x201c;SUL&amp;#x201d;), and product sales to SUL. These receivables are evaluated to determine if any reserve or allowance should be established at each reporting date. At &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016,&lt;/div&gt; the Company had the following receivables.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;December&amp;nbsp;31, 2017&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Billed&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Unbilled&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 52%; font-size: 10pt; text-align: left"&gt;U.S. Department of Health and Human Services&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;42&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,020&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,062&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Shionogi&amp;nbsp;&amp;amp; Co. Ltd.&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,600&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,600&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Green Cross Corporation&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,388&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;28&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,416&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Mundipharma International Holdings Limited&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;47&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;47&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Seqirus UK Limited&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;825&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;167&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;992&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt"&gt;Total receivables&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,902&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,215&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,117&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;December&amp;nbsp;31, 2016&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Billed&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Unbilled&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 52%; font-size: 10pt; text-align: left"&gt;U.S. Department of Health and Human Services&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,495&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,495&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Shionogi&amp;nbsp;&amp;amp; Co. Ltd.&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,451&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,451&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Green Cross Corporation&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;686&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;686&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Seqirus UK Limited&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;957&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;179&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,136&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt"&gt;Total receivables&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,094&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,674&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,768&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;Monthly invoices are submitted to the U.S. Department of Health and Human Services related to reimbursable research and development costs. The Company is also entitled to monthly reimbursement of indirect costs based on rates stipulated in the underlying contract. The Company&amp;#x2019;s calculations of its indirect cost rates are subject to audit by the U.S. Government.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Receivables from Product Sales&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;Receivables from product sales are recorded for amounts due to the Company related to sales of RAPIVAB. These receivables are evaluated to determine if any reserve or allowance should be established at each reporting date.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0"&gt;&amp;nbsp;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:ReceivablesPolicyTextBlock>
  <us-gaap:ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c27755926" unitRef="iso4217-usd">-1000</us-gaap:ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax>
  <us-gaap:ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax contextRef="d_2016-01-01_2016-12-31" decimals="-3" id="c27755927" unitRef="iso4217-usd">11000</us-gaap:ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax>
  <us-gaap:ResearchAndDevelopmentExpense contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c27755579" unitRef="iso4217-usd">66962000</us-gaap:ResearchAndDevelopmentExpense>
  <us-gaap:ResearchAndDevelopmentExpense contextRef="d_2016-01-01_2016-12-31" decimals="-3" id="c27755580" unitRef="iso4217-usd">61008000</us-gaap:ResearchAndDevelopmentExpense>
  <us-gaap:ResearchAndDevelopmentExpense contextRef="d_2015-01-01_2015-12-31" decimals="-3" id="c27755581" unitRef="iso4217-usd">72758000</us-gaap:ResearchAndDevelopmentExpense>
  <us-gaap:ResearchAndDevelopmentExpensePolicy contextRef="d_2017-01-01_2017-12-31" id="c27758330">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Research and Development Expenses&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company&amp;#x2019;s research and development costs are charged to expense when incurred. Research and development expenses include all direct and indirect development costs related to the development of the Company&amp;#x2019;s portfolio of product candidates. Advance payments for goods or services that will be used or rendered for future research and development activities are deferred and capitalized. Such amounts are recognized as expense when the related goods are delivered or the related services are performed. Research and development expenses include, among other items, personnel costs, including salaries and benefits, manufacturing costs, clinical, regulatory, and toxicology services performed by CROs, materials and supplies, and overhead allocations consisting of various administrative and facilities related costs. Most of the Company&amp;#x2019;s manufacturing and clinical and preclinical studies are performed by &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt;-party CROs. Costs for studies performed by CROs are accrued by the Company over the service periods specified in the contracts and estimates are adjusted, if required, based upon the Company&amp;#x2019;s on-going review of the level of services actually performed.&amp;nbsp;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;Additionally, the Company has license agreements with &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt; parties, such as Albert Einstein College of Medicine of Yeshiva University (&amp;#x201c;AECOM&amp;#x201d;), Industrial Research, Ltd. (&amp;#x201c;IRL&amp;#x201d;), and the University of Alabama at Birmingham (&amp;#x201c;UAB&amp;#x201d;), which require fees related to sublicense agreements or maintenance fees. The Company expenses sublicense payments as incurred unless they are related to revenues that have been deferred, in which case the expenses are deferred and recognized over the related revenue recognition period. The Company expenses maintenance payments as incurred.&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;Deferred collaboration expenses represent sub-license payments, paid to the Company&amp;#x2019;s academic partners upon receipt of consideration from various commercial partners, and other consideration paid to the Company&amp;#x2019;s academic partners for modification to existing license agreements. These deferred expenses would &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; have been incurred without receipt of such payments or modifications from the Company&amp;#x2019;s commercial partners and are being expensed in proportion to the related revenue being recognized. The Company believes that this accounting treatment appropriately matches expenses with the associated revenue.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:ResearchAndDevelopmentExpensePolicy>
  <us-gaap:RestrictedCashAndCashEquivalentsAtCarryingValue contextRef="i_2017-12-31_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis-RoyaltyReceivableMember" decimals="-3" id="c27755889" unitRef="iso4217-usd">1876000</us-gaap:RestrictedCashAndCashEquivalentsAtCarryingValue>
  <us-gaap:RestrictedCashAndCashEquivalentsAtCarryingValue contextRef="i_2017-12-31_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis-CollateralForCreditMember" decimals="-3" id="c27755891" unitRef="iso4217-usd">1410000</us-gaap:RestrictedCashAndCashEquivalentsAtCarryingValue>
  <us-gaap:RestrictedCashAndCashEquivalentsAtCarryingValue contextRef="i_2017-12-31" decimals="-3" id="c27755482" unitRef="iso4217-usd">3286000</us-gaap:RestrictedCashAndCashEquivalentsAtCarryingValue>
  <us-gaap:RestrictedCashAndCashEquivalentsAtCarryingValue contextRef="i_2016-12-31" decimals="-3" id="c27755483" unitRef="iso4217-usd">1546000</us-gaap:RestrictedCashAndCashEquivalentsAtCarryingValue>
  <us-gaap:RetainedEarningsAccumulatedDeficit contextRef="i_2017-12-31" decimals="-3" id="c27755556" unitRef="iso4217-usd">-631843000</us-gaap:RetainedEarningsAccumulatedDeficit>
  <us-gaap:RetainedEarningsAccumulatedDeficit contextRef="i_2016-12-31" decimals="-3" id="c27755557" unitRef="iso4217-usd">-566061000</us-gaap:RetainedEarningsAccumulatedDeficit>
  <us-gaap:RevenueRecognitionMilestoneMethodRevenueRecognized contextRef="d_2017-01-01_2017-12-31_ProductOrServiceAxis-RAPIVABMember" decimals="-3" id="c27755943" unitRef="iso4217-usd">2000000</us-gaap:RevenueRecognitionMilestoneMethodRevenueRecognized>
  <us-gaap:RevenueRecognitionMilestoneMethodRevenueRecognized contextRef="d_2017-01-01_2017-12-31_ProductOrServiceAxis-SupplementalNDAForRaAPIVABMember" decimals="-3" id="c27755944" unitRef="iso4217-usd">5000000</us-gaap:RevenueRecognitionMilestoneMethodRevenueRecognized>
  <us-gaap:RevenueRecognitionPolicyTextBlock contextRef="d_2017-01-01_2017-12-31" id="c27758339">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div&gt;&lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Revenue Recognition&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company recognizes revenues from collaborative and other research and development arrangements, royalties and product sales when realized or realizable and earned. Revenue is realized or realizable and earned when all of the following criteria are met: (i)&amp;nbsp;persuasive evidence of an arrangement exists; (ii)&amp;nbsp;delivery has occurred or services have been rendered; (iii)&amp;nbsp;the seller&amp;#x2019;s price to the buyer is fixed or determinable; and (iv)&amp;nbsp;collectability is reasonably assured.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;/div&gt; &lt;!-- Field: Page; Sequence: 64; Value: 60 --&gt; &lt;!-- Field: /Page --&gt; &lt;div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Collaborative and Other Research and Development Arrangements and Royalties&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;Revenue from license fees, royalty payments, event payments, and research and development fees are recognized as revenue when the earnings process is complete and the Company has &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; further continuing performance obligations or the Company has completed the performance obligations under the terms of the agreement. Fees received under licensing agreements that are related to future performance are deferred and recognized over an estimated period determined by management based on the terms of the agreement and the products licensed. Revisions to revenue or profit estimates as a result of changes in the estimated revenue period are recognized prospectively.&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;Under certain of the Company&amp;#x2019;s license agreements, the Company receives royalty payments based upon its licensees&amp;#x2019; net sales of covered products. The Company recognizes royalty revenues when it can reliably estimate such amounts and collectability is reasonably assured.&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;For arrangements that involve the delivery of more than &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; element, each product, service and/or right to use assets is evaluated to determine whether it qualifies as a separate unit of accounting. This determination is based on whether the deliverable has &amp;#x201c;stand-alone value&amp;#x201d; to the customer. The consideration that is fixed or determinable is then allocated to each separate unit of accounting based on the relative selling price of each deliverable. The estimated selling price of each deliverable is determined using the following hierarchy of values: (i) vendor-specific objective evidence of fair value, (ii) &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt;-party evidence of selling price (&amp;#x201c;TPE&amp;#x201d;) and (iii) best estimate of selling price (&amp;#x201c;BESP&amp;#x201d;). The BESP reflects the Company&amp;#x2019;s best estimate of what the selling price would be if the deliverable was regularly sold by the Company on a stand-alone basis. In most cases the Company expects to use TPE or BESP for allocating consideration to each deliverable. The consideration allocated to each unit of accounting is recognized as the related goods or services are delivered, limited to the consideration that is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; contingent upon future deliverables. Analyzing the arrangement to identify deliverables requires the use of judgment, and each deliverable &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;be an obligation to deliver services, a right or license to use an asset, or another performance obligation.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; June 2015, &lt;/div&gt;the Company entered into a License Agreement (the &amp;#x201c;SUL Agreement&amp;#x201d;) granting SUL and its affiliates worldwide rights, excluding Israel, Japan, Korea and Taiwan, to develop, manufacture and commercialize RAPIVAB. The SUL Agreement provides for various types of payments, including a non-refundable upfront fee, milestone payments, and future royalties. Analysis of the SUL Agreement identified &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;three&lt;/div&gt; deliverables: (i) license rights, (ii) inventory and (iii) regulatory support to obtain Canadian and European Union (&amp;#x201c;EU&amp;#x201d;) marketing approvals. The Company received an upfront payment of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$33,740&lt;/div&gt; from SUL, of which &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$7,000&lt;/div&gt; was determined to be contingent upon EU marketing approval and will be deferred until that time. Approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$21,777&lt;/div&gt; of the upfront payment was allocated to the license rights and recognized as revenue in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015.&lt;/div&gt; Approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$3,740&lt;/div&gt; of the upfront payment was allocated to the pending sale of inventory and was recognized in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015,&lt;/div&gt; when the inventory transfer was completed. Approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$1,223&lt;/div&gt; of the revenue from the SUL Agreement was recognized over the period of involvement in regulatory support activities.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;Milestone payments are recognized as licensing revenue upon the achievement of specified milestones if (i) the milestone is substantive in nature and the achievement of the milestone was &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; reasonably assured at the inception of the agreement; and (ii) the fees are non-refundable. Any milestone payments received prior to satisfying these revenue recognition criteria are recorded as deferred revenue.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;During &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; the Company received a &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$2,000&lt;/div&gt; milestone payment related to the approval of RAPIVAB by Health Canada and a &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$5,000&lt;/div&gt; milestone payment associated with the FDA approval of a supplemental new drug application (&amp;#x201c;sNDA&amp;#x201d;) for RAPIVAB extending its availability for the treatment of acute uncomplicated influenza to pediatric patients &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;two&lt;/div&gt; years and older. The Company evaluated each event based payment under the provisions of ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2010&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17,&lt;/div&gt; Milestone Method of Revenue Recognition, and determined that each event based payment met the criteria to be considered substantive and represents a milestone under the milestone method of accounting. Under the terms of the SUL Agreement, the Company &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;receive an additional &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$5,000&lt;/div&gt; payment related to the successful marketing approval by the EMA for an adult indication in the EU. &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;No&lt;/div&gt; event-based payments were achieved during &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016.&lt;/div&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;Reimbursements received for direct out-of-pocket expenses related to research and development costs are recorded as revenue in the Consolidated Statements of Comprehensive Loss rather than as a reduction in expenses. Under the Company&amp;#x2019;s contracts with the Biomedical Advanced Research and Development Authority within the United States Department of Health and Human Services (&amp;#x201d;BARDA/HHS&amp;#x201d;) and the National Institute of Allergy and Infectious Diseases (&amp;#x201c;NIAID/HHS&amp;#x201d;), revenue is recognized as reimbursable direct and indirect costs are incurred.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Product Sales&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company recognizes revenue for sales of RAPIVAB when title and substantially all the risks and rewards of ownership have transferred to the customer, which generally occurs on the date of shipment from the Company&amp;#x2019;s specialty distributors, utilizing the Sell-Through revenue recognition methodology. Product sales are recognized when there is persuasive evidence that an arrangement exists, title has passed, the price is fixed and determinable, and collectability is reasonably assured. Product sales are recognized net of estimated allowances, discounts, sales returns, chargebacks and rebates. In the United States, and prior to the SUL Agreement, the Company sold RAPIVAB to specialty distributors, who in turn, sell to physician offices, hospitals and federal, state and commercial health care organizations.&amp;nbsp;With the completion of the SUL worldwide license of RAPIVAB, SUL will be responsible for sales of RAPIVAB, other than U.S. Government stockpiling sales. With the completion of the SUL collaboration, all peramivir sales (i.e., RAPIVAB, RAPIACTA, and PERAMIFLU) will be made by the Company&amp;#x2019;s partners, except for U.S. Government stockpiling sales, and the Company will be reliant on these partners to generate sales.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;/div&gt; &lt;!-- Field: Page; Sequence: 65; Value: 60 --&gt; &lt;!-- Field: /Page --&gt; &lt;div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;Sales deductions consist of statutory rebates to state Medicaid, Medicare and other government agencies and sales discounts (including trade discounts and distribution service fees). These deductions are recorded as reductions from revenue from RAPIVAB in the same period as the related sales with estimates of future utilization derived from historical experience adjusted to reflect known changes in the factors that impact such reserves.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company utilizes data from external sources to help it estimate gross-to-net sales adjustments as they relate to the recognition of revenue for RAPIVAB sold. Externally sourced data includes, but is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; limited to, information obtained from specialty distributors with respect to their inventory levels and their sell-through to customers, as well as information from &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt;-party suppliers of market research data to the pharmaceutical industry.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company accounts for these sales deductions in accordance with authoritative guidance on revenue recognition when consideration is given by a vendor to a customer.&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company has categorized and described more fully the following significant sales deductions, all of which involve estimates and judgments, which the Company considers to be critical accounting estimates, and require it to use information from external sources.&amp;nbsp;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 13.5pt"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 13.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 13.5pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Rebates and Chargebacks&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 13.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;Statutory rebates to state Medicaid agencies and Medicare are based on statutory discounts to RAPIVAB&amp;#x2019;s selling price.&amp;nbsp;As it can take up to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;nine&lt;/div&gt; months or more for information to be received on actual usage of RAPIVAB in Medicaid and other governmental programs, the Company maintains reserves for amounts payable under these programs relating to RAPIVAB sales.&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;Chargebacks claimed by specialty distributors are based on the differentials between product acquisition prices paid by the specialty distributors and lower government contract pricing paid by eligible customers covered under federally qualified programs.&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;The amount of the reserve for rebates and chargebacks is based on multiple qualitative and quantitative factors, including the historical and projected utilization levels, historical payment experience, changes in statutory laws and interpretations as well as contractual terms, product pricing (both normal selling prices and statutory or negotiated prices), changes in prescription demand patterns and utilization of the Company&amp;#x2019;s product through public benefit plans, and the levels of RAPIVAB inventory in the distribution channel. The Company acquires prescription utilization data from &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt;-party suppliers of market research data to the pharmaceutical industry. The Company updates its estimates and assumptions each period and records any necessary adjustments to its reserves. Settlements of rebates and chargebacks typically occur within &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;nine&lt;/div&gt; months from point of sale. To the extent actual rebates and chargebacks differ from the Company&amp;#x2019;s estimates, additional reserves &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;be required or reserves &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;need to be reversed, either of which would impact current period product revenue.&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Discounts and Sales Incentives&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 0.25in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;Discounts and other sales incentives primarily consist of Inventory Management Agreement (&amp;#x201c;IMA&amp;#x201d;) fees. Per contractual agreements with the Company&amp;#x2019;s specialty distributors, the Company provides an IMA fee based on a percentage of their purchases of RAPIVAB. The IMA fee rates are set forth in individual contracts. The Company tracks sales to these distributors each period and accrues a liability relating to the unpaid portion of these fees by applying the contractual rates to such product sales.&amp;nbsp;With the completion of the SUL collaboration, all peramivir sales (i.e., RAPIVAB, RAPIACTA, and PERAMIFLU) will be made by the Company&amp;#x2019;s partners, except for U.S. Government stockpiling sales, and the Company will be reliant on these partners to generate sales and to provide for discounts and sales incentives.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Product Returns&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 0.25in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; record a product return allowance as it does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; offer the ability to return goods once a bonafide shipment has been accepted by a specialty distributor.&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;/div&gt; &lt;!-- Field: Page; Sequence: 66; Value: 60 --&gt; &lt;!-- Field: /Page --&gt; &lt;div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company recorded the following revenues for the years ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31:&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 13.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;Product sales, net&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,501&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,269&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,291&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Royalty revenue&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,543&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,682&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,386&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Collaborative and other research and development revenues:&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;U.S. Department of Health and Human Services&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,608&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,449&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16,337&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Green Cross Corporation&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;132&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Shionogi &amp;amp; Co. Ltd.&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,184&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,184&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,184&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt"&gt;Seqirus UK Limited&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,350&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;769&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;21,927&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Total collaborative and other research and development revenues&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13,142&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14,402&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;39,580&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt"&gt;Total revenues&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;25,186&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;26,353&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;48,257&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Advertising&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company engages in very limited distribution and direct-response advertising when promoting RAPIVAB. Advertising and promotional costs are expensed as the costs are incurred. The Company did &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; incur advertising and product promotion expenses in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016.&lt;/div&gt; Advertising and product promotion expenses were &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$103&lt;/div&gt; for the year ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:RevenueRecognitionPolicyTextBlock>
  <us-gaap:Revenues contextRef="d_2015-06-01_2015-06-30_CounterpartyNameAxis-CSLMember_ProductOrServiceAxis-RAPIVABMember_TypeOfArrangementAxis-AgreementMember" decimals="-3" id="c27755936" unitRef="iso4217-usd">21777000</us-gaap:Revenues>
  <us-gaap:Revenues contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c27756162" unitRef="iso4217-usd">25186000</us-gaap:Revenues>
  <us-gaap:Revenues contextRef="d_2016-01-01_2016-12-31" decimals="-3" id="c27756163" unitRef="iso4217-usd">26353000</us-gaap:Revenues>
  <us-gaap:Revenues contextRef="d_2015-01-01_2015-12-31" decimals="-3" id="c27756164" unitRef="iso4217-usd">48257000</us-gaap:Revenues>
  <us-gaap:RoyaltyExpense contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c27755585" unitRef="iso4217-usd">560000</us-gaap:RoyaltyExpense>
  <us-gaap:RoyaltyExpense contextRef="d_2016-01-01_2016-12-31" decimals="-3" id="c27755586" unitRef="iso4217-usd">402000</us-gaap:RoyaltyExpense>
  <us-gaap:RoyaltyExpense contextRef="d_2015-01-01_2015-12-31" decimals="-3" id="c27755587" unitRef="iso4217-usd">528000</us-gaap:RoyaltyExpense>
  <us-gaap:RoyaltyRevenue contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c27756143" unitRef="iso4217-usd">10543000</us-gaap:RoyaltyRevenue>
  <us-gaap:RoyaltyRevenue contextRef="d_2016-01-01_2016-12-31" decimals="-3" id="c27756144" unitRef="iso4217-usd">9682000</us-gaap:RoyaltyRevenue>
  <us-gaap:RoyaltyRevenue contextRef="d_2015-01-01_2015-12-31" decimals="-3" id="c27756145" unitRef="iso4217-usd">2386000</us-gaap:RoyaltyRevenue>
  <us-gaap:SalesRevenueGoodsNet contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c27756140" unitRef="iso4217-usd">1501000</us-gaap:SalesRevenueGoodsNet>
  <us-gaap:SalesRevenueGoodsNet contextRef="d_2016-01-01_2016-12-31" decimals="-3" id="c27756141" unitRef="iso4217-usd">2269000</us-gaap:SalesRevenueGoodsNet>
  <us-gaap:SalesRevenueGoodsNet contextRef="d_2015-01-01_2015-12-31" decimals="-3" id="c27756142" unitRef="iso4217-usd">6291000</us-gaap:SalesRevenueGoodsNet>
  <us-gaap:SalesRevenueNet contextRef="d_2017-01-01_2017-12-31" decimals="-3" id="c27755572" unitRef="iso4217-usd">25186000</us-gaap:SalesRevenueNet>
  <us-gaap:SalesRevenueNet contextRef="d_2016-01-01_2016-12-31" decimals="-3" id="c27755573" unitRef="iso4217-usd">26353000</us-gaap:SalesRevenueNet>
  <us-gaap:SalesRevenueNet contextRef="d_2015-01-01_2015-12-31" decimals="-3" id="c27755574" unitRef="iso4217-usd">48257000</us-gaap:SalesRevenueNet>
  <us-gaap:SalesRevenueNet contextRef="d_2017-01-01_2017-03-31" decimals="-3" id="c27756830" unitRef="iso4217-usd">9437000</us-gaap:SalesRevenueNet>
  <us-gaap:SalesRevenueNet contextRef="d_2017-04-01_2017-06-30" decimals="-3" id="c27756831" unitRef="iso4217-usd">3099000</us-gaap:SalesRevenueNet>
  <us-gaap:SalesRevenueNet contextRef="d_2017-07-01_2017-09-30" decimals="-3" id="c27756832" unitRef="iso4217-usd">8760000</us-gaap:SalesRevenueNet>
  <us-gaap:SalesRevenueNet contextRef="d_2017-10-01_2017-12-31" decimals="-3" id="c27756833" unitRef="iso4217-usd">3890000</us-gaap:SalesRevenueNet>
  <us-gaap:SalesRevenueNet contextRef="d_2016-01-01_2016-03-31" decimals="-3" id="c27756843" unitRef="iso4217-usd">4820000</us-gaap:SalesRevenueNet>
  <us-gaap:SalesRevenueNet contextRef="d_2016-04-01_2016-06-30" decimals="-3" id="c27756844" unitRef="iso4217-usd">4787000</us-gaap:SalesRevenueNet>
  <us-gaap:SalesRevenueNet contextRef="d_2016-07-01_2016-09-30" decimals="-3" id="c27756845" unitRef="iso4217-usd">7763000</us-gaap:SalesRevenueNet>
  <us-gaap:SalesRevenueNet contextRef="d_2016-10-01_2016-12-31" decimals="-3" id="c27756846" unitRef="iso4217-usd">8983000</us-gaap:SalesRevenueNet>
  <us-gaap:ScheduleOfAccruedLiabilitiesTableTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-20">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 67%; font-size: 10pt; text-align: left"&gt;Compensation and benefits&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,905&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;425&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Development costs&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,683&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,427&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Inventory&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;705&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Professional fees&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;729&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;242&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Duties and taxes&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;148&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;56&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Other&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,234&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,981&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt"&gt;Total accrued expenses&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,699&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,836&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfAccruedLiabilitiesTableTextBlock>
  <us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-32">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Deferred tax assets:&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 70%; font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Net federal and state operating losses&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;117,787&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;158,618&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Research and development credits&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;55,208&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;53,231&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Deferred revenue&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,854&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,484&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Stock-based compensation&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,424&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,952&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt; text-indent: 10pt"&gt;Other&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,046&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,849&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Total deferred tax assets&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;183,319&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;227,134&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Deferred tax liabilities:&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Fixed assets&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(421&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(674&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt"&gt;Foreign currency derivative&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(478&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,415&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Total deferred tax liabilities&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(899&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,089&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Valuation allowance&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(182,420&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(225,045&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt"&gt;Net deferred tax assets&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock>
  <us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-30">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;Income tax benefit at federal statutory rate&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(23,024&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(19,300&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(15,057&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;State and local income taxes net of federal tax benefit&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,611&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,173&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(819&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Permanent items&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;910&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,057&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;560&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Rate change&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;71,155&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,080&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,012&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Expiration of attribute carryforwards&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;918&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;559&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;330&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Effect of ASU 2016-09&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5,949&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Research and development tax credits&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,977&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4,681&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(10,454&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Orphan drug credit&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;564&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,798&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,307&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Other&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,639&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;822&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(218&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Change in valuation allowance&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(42,625&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,838&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;20,339&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt"&gt;Income tax expense&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock>
  <us-gaap:ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-25">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year Ended December&amp;nbsp;31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 55%; font-size: 10pt; text-align: left"&gt;Research and development&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,602&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,088&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,580&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;General and administrative&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,019&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,399&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,125&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt"&gt;Total stock-based compensation expense&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,621&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,487&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,705&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock>
  <us-gaap:ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-24">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 87%; font-size: 10pt; text-align: left"&gt;2018&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,169&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,154&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;2020&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;862&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;2021&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;479&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;2022&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;490&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Thereafter&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,999&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt"&gt;Total minimum payments&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,153&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock>
  <us-gaap:ScheduleOfMaturitiesOfLongTermDebtTableTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-23">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td colspan="5" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Principal Payments&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 72%; font-size: 10pt; text-align: justify"&gt;2018&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 25%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,900&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,900&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: justify"&gt;2020&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,900&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: justify; padding-bottom: 1pt"&gt;2021&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,300&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: justify; padding-bottom: 2.25pt"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;23,000&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfMaturitiesOfLongTermDebtTableTextBlock>
  <us-gaap:ScheduleOfQuarterlyFinancialInformationTableTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-33">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;First&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Second&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Third&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Fourth&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;2017 Quarters&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 48%; font-size: 10pt; text-indent: 10pt"&gt;Revenues&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,437&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,099&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,760&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,890&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Net Loss&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(14,219&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(16,886&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(15,134&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(19,543&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Basic and diluted net loss per share&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.19&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.21&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.18&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.20&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;2016 Quarters&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-indent: 10pt"&gt;Revenues&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,820&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,787&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,763&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,983&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Net Loss&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(22,832&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(16,281&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(11,528&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4,503&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Basic and diluted net loss per share&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.31&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.22&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.16&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.06&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfQuarterlyFinancialInformationTableTextBlock>
  <us-gaap:ScheduleOfShareBasedCompensationActivityTableTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-26">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Awards&lt;br /&gt; Available&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Options&lt;br /&gt; Outstanding&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Weighted&lt;br /&gt; Average&lt;br /&gt; Exercise&lt;br /&gt; Price&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 55%; font-size: 10pt"&gt;Balance at December&amp;nbsp;31, 2014&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,362&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,605&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.21&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Restricted stock awards granted&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(163&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Restricted stock awards cancelled&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Stock option awards granted&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,217&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,217&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11.52&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Stock option awards exercised&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,118&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.36&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt"&gt;Stock option awards cancelled&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;33&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(33&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.87&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Balance at December&amp;nbsp;31, 2015&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,671&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.50&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Plan amendment&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,800&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Restricted stock awards granted&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(34&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Restricted stock awards cancelled&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;22&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Stock option awards granted&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,248&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,248&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.20&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Stock option awards exercised&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(107&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.63&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt"&gt;Stock option awards cancelled&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;717&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(717&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10.78&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Balance at December&amp;nbsp;31, 2016&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,273&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,095&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.55&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Plan amendment&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,000&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Restricted stock awards granted&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(22&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Restricted stock awards cancelled&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Stock option awards granted&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,915&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,915&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.33&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Stock option awards exercised&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(438&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.50&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt"&gt;Stock option awards cancelled&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,120&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,120&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.72&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;Balance at December&amp;nbsp;31, 2017&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;468&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14,452&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 2.25pt; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="padding-bottom: 2.25pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.06&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfShareBasedCompensationActivityTableTextBlock>
  <us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-29">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Non-Vested&lt;br /&gt; Stock Option&lt;br /&gt; Awards&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Weighted Average&lt;br /&gt; Grant-Date Fair&lt;br /&gt; Value&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 67%; font-size: 10pt"&gt;Balance December&amp;nbsp;31, 2016&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,598&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.40&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Stock option awards granted&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,915&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.63&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Stock option awards vested&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,916&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.86&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Stock option awards forfeited&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(395&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.84&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;Balance December&amp;nbsp;31, 2017&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,202&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.56&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock>
  <us-gaap:ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-27">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 55%; font-size: 10pt; text-align: left"&gt;Expected Life&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Expected Volatility&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;82&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;82&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;81&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Expected Dividend Yield&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Risk-Free Interest Rate&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock>
  <us-gaap:ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-31">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 70%; font-size: 10pt"&gt;Balance at January&amp;nbsp;1,&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,255&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,085&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Additions to current period tax positions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;495&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,170&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Additions to prior period tax positions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Reductions to prior period tax provisions&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;Balance at December&amp;nbsp;31,&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,750&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,255&lt;/div&gt;&lt;/td&gt; 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  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber contextRef="i_2014-12-31_PlanNameAxis-IncentivePlanMember" decimals="-3" id="c27756481" unitRef="xbrli-shares">9605000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber contextRef="i_2015-12-31_PlanNameAxis-IncentivePlanMember" decimals="-3" id="c27756499" unitRef="xbrli-shares">10671000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber contextRef="i_2016-12-31_PlanNameAxis-IncentivePlanMember" decimals="-3" id="c27756520" unitRef="xbrli-shares">12095000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber contextRef="i_2017-12-31_PlanNameAxis-IncentivePlanMember" decimals="-3" id="c27756541" unitRef="xbrli-shares">14452000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice contextRef="i_2014-12-31_PlanNameAxis-IncentivePlanMember" decimals="INF" id="c27756482" unitRef="iso4217-usd-per-xbrli-shares">6.21</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAndExercisableTableTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-28">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="9" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;Outstanding&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Exercisable&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid; text-align: left"&gt;Range&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;Number&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"&gt;Weighted&lt;br /&gt; Average&lt;br /&gt; Remaining&lt;br /&gt; Life&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Weighted&lt;br /&gt; Average&lt;br /&gt; Exercise&lt;br /&gt; Price&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Number&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Weighted&lt;br /&gt; Average&lt;br /&gt; Exercise&lt;br /&gt; Price&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: center"&gt;$&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; font-weight: bold; text-align: center"&gt;0&lt;/td&gt; &lt;td style="width: 3%; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;to&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,724&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 2%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 14%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 14%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.64&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 14%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,598&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 14%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.55&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center"&gt;3&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;to&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,303&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.5&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.63&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,066&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.31&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center"&gt;6&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;to&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;854&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.0&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.90&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;848&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.89&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center"&gt;9&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;to&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,857&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.1&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11.00&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,383&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10.98&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center"&gt;12&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;to&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;619&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.9&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12.29&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;308&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12.39&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"&gt;15&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;to&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;95&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.5&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.39&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;47&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.39&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="padding-bottom: 2.25pt; font-size: 10pt; font-weight: bold; text-align: center"&gt;$&lt;/td&gt; &lt;td style="padding-bottom: 2.25pt; font-size: 10pt; font-weight: bold; text-align: center"&gt;0&lt;/td&gt; &lt;td style="padding-bottom: 2.25pt; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;to&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="padding-bottom: 2.25pt; font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14,452&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 2.25pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.8&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 2.25pt; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="padding-bottom: 2.25pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.06&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,250&lt;/div&gt;&lt;/td&gt; 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  <us-gaap:SignificantAccountingPoliciesTextBlock contextRef="d_2017-01-01_2017-12-31" id="s806578">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Note&amp;nbsp;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt;&amp;nbsp;&amp;#x2014; Significant Accounting Policies and Concentrations of Risk&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;The Company&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;BioCryst Pharmaceuticals, Inc. (the &amp;#x201c;Company&amp;#x201d;) is a biotechnology company that designs, optimizes and develops novel small molecule drugs that block key enzymes involved in the pathogenesis of diseases. The Company focuses on oral treatments for rare diseases in which significant unmet medical needs exist and that align with its capabilities and expertise. The Company was incorporated in Delaware in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1986&lt;/div&gt; and its headquarters is located in Durham, North Carolina. The Company integrates the disciplines of biology, crystallography, medicinal chemistry and computer modeling to discover and develop small molecule pharmaceuticals through the process known as structure-guided drug design. BioCryst has incurred losses and negative cash flows from operations since inception.&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;With the funds available at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;the Company believes these resources will be sufficient to fund its operations at least through the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt; quarter of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2019.&lt;/div&gt; The Company has sustained operating losses for the majority of its corporate history and expects that its &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2018&lt;/div&gt; expenses will exceed its &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2018&lt;/div&gt; revenues. The Company expects to continue to incur operating losses and negative cash flows until revenues reach a level sufficient to support ongoing operations. Accordingly, its planned operations raise doubt about its ability to continue as a going concern beyond the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt; quarter of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2019.&lt;/div&gt; The Company&amp;#x2019;s liquidity needs will be largely determined by the success of operations in regards to the progression of its product candidates in the future. The Company also &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;consider other plans to fund operations beyond the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt; quarter of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2019&lt;/div&gt; including: (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt;)&amp;nbsp;securing or increasing U.S. Government funding of its programs, including obtaining procurement contracts; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2&lt;/div&gt;)&amp;nbsp;out-licensing rights to certain of its products or product candidates, pursuant to which the Company would receive cash milestones; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt;)&amp;nbsp;raising additional capital through equity or debt financings or from other sources; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4&lt;/div&gt;)&amp;nbsp;obtaining additional product candidate regulatory approvals, which would generate revenue, milestones and cash flow; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5&lt;/div&gt;)&amp;nbsp;reducing spending on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; or more research and development programs, including by discontinuing development; and/or (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6&lt;/div&gt;)&amp;nbsp;restructuring operations to change its overhead structure. The Company &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;issue securities, including common stock, preferred stock, depositary shares, stock purchase contracts, warrants and units, through private placement transactions or registered public offerings in the future. The Company&amp;#x2019;s future liquidity needs, and ability to address those needs, will largely be determined by the success of its product candidates and key development and regulatory events and its decisions in the future.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Basis of Presentation&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, JPR Royalty Sub LLC (&amp;#x201c;Royalty Sub&amp;#x201d;) and MDCP, LLC (&amp;#x201c;MDCP&amp;#x201d;). Both subsidiaries were formed to facilitate financing transactions for the Company. Royalty Sub was formed in connection with a &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$30,000&lt;/div&gt;&amp;nbsp;financing transaction the Company completed on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; March&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2011.&lt;/div&gt; See Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,&lt;/div&gt; Royalty Monetization, for a further description of this transaction. MDCP was formed in connection with a &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$23,000&lt;/div&gt; Senior Credit Facility that the Company closed on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; September 23, 2016. &lt;/div&gt;See Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,&lt;/div&gt; Senior Credit Facility, for a further description of this transaction. All intercompany transactions and balances have been eliminated.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company&amp;#x2019;s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (&amp;#x201c;U.S. GAAP&amp;#x201d;). Such consolidated financial statements reflect all adjustments that are, in management&amp;#x2019;s opinion, necessary to present fairly, in all material respects, the Company&amp;#x2019;s consolidated financial position, results of operations, and cash flows. There were &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; adjustments other than normal recurring adjustments.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Cash and Cash Equivalents&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company generally considers cash equivalents to be all cash held in commercial checking accounts, certificates of deposit, money market accounts or investments in debt instruments with maturities of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;three&lt;/div&gt; months or less at the time of purchase. The carrying value of cash and cash equivalents approximates fair value due to the short-term nature of these items.&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Restricted Cash&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;Restricted cash as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 &lt;/div&gt;reflects &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$1,876&lt;/div&gt; in royalty revenue paid by Shionogi&amp;nbsp;&amp;amp; Co., Ltd. (&amp;#x201c;Shionogi&amp;#x201d;) designated for interest on the PhaRMA Notes (defined in Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt;) and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$1,410&lt;/div&gt; the Company is required to maintain as collateral for a letter of credit associated with the lease execution and build-out of its new Birmingham research facilities.&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Investments&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company invests in high credit quality investments in accordance with its investment policy, which is designed to minimize the possibility of loss. The objective of the Company&amp;#x2019;s investment policy is to ensure the safety and preservation of invested funds, as well as maintaining liquidity sufficient to meet cash flow requirements. The Company places its excess cash with high credit quality financial institutions, commercial companies, and government agencies in order to limit the amount of its credit exposure. In accordance with its policy, the Company is able to invest in marketable debt securities that &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;consist of U.S. Government and government agency securities, money market and mutual fund investments, municipal and corporate notes and bonds, commercial paper and asset or mortgage-backed securities, among others. The Company&amp;#x2019;s investment policy requires it to purchase high-quality marketable securities with a maximum individual maturity of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;three&lt;/div&gt; years and requires an average portfolio maturity of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; more than &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18&lt;/div&gt; months. Some of the securities the Company invests in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;have market risk. This means that a change in prevailing interest rates &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;cause the principal amount of the investment to fluctuate. To minimize this risk, the Company schedules its investments with maturities that coincide with expected cash flow needs, thus avoiding the need to redeem an investment prior to its maturity date. Accordingly, the Company does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; believe it has a material exposure to interest rate risk arising from its investments. Generally, the Company&amp;#x2019;s investments are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; collateralized. The Company has &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; realized any significant losses from its investments.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 61; Value: 60 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company classifies all of its investments as available-for-sale. Unrealized gains and losses on investments are recognized in comprehensive loss, unless an unrealized loss is considered to be other than temporary, in which case the unrealized loss is charged to operations. The Company periodically reviews its investments for other than temporary declines in fair value below cost basis and whenever events or changes in circumstances indicate that the carrying amount of an asset &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; be recoverable. The Company believes the individual unrealized losses represent temporary declines primarily resulting from interest rate changes. Realized gains and losses are reflected in interest and other income in the Consolidated Statements of Comprehensive Loss and are determined using the specific identification method with transactions recorded on a settlement date basis. Investments with original maturities at date of purchase beyond &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;three&lt;/div&gt; months and which mature at or less than &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12&lt;/div&gt; months from the balance sheet date are classified as current. Investments with a maturity beyond &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12&lt;/div&gt; months from the balance sheet date are classified as long-term. At &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;the Company believes that the cost of its investments is recoverable in all material respects.&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The following tables summarize the fair value of the Company&amp;#x2019;s investments by type. The estimated fair values of the Company&amp;#x2019;s fixed income investments are classified as Level &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2&lt;/div&gt; in the fair value hierarchy as defined in U.S. GAAP. These valuations are based on observable direct and indirect inputs, primarily quoted prices of similar, but &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; identical, instruments in active markets or quoted prices for identical or similar instruments in markets that are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; active. These fair values are obtained from independent pricing services which utilize Level &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2&lt;/div&gt; inputs.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="19" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;December 31, 2017&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Amortized&lt;br /&gt; Cost&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Accrued&lt;br /&gt; Interest&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Gross&lt;br /&gt; Unrealized&lt;br /&gt; Gains&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Gross&lt;br /&gt; Unrealized&lt;br /&gt; Losses&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Estimated&lt;br /&gt; Fair Value&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 35%; font-size: 10pt; text-align: left; text-indent: -10pt; padding-left: 10pt"&gt;Obligations of U.S. Government and its agencies&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;60,121&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;177&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(122&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;60,176&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Corporate debt securities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;34,021&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;203&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(108&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;34,116&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Certificates of deposit&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,099&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;32&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(14&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,118&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt"&gt;Total investments&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;105,241&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;412&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(244&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;105,410&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="19" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;December 31, 2016&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Amortized&lt;br /&gt; Cost&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Accrued&lt;br /&gt; Interest&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Gross&lt;br /&gt; Unrealized&lt;br /&gt; Gains&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Gross&lt;br /&gt; Unrealized&lt;br /&gt; Losses&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Estimated&lt;br /&gt; Fair Value&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 35%; font-size: 10pt; text-align: left; text-indent: -10pt; padding-left: 10pt"&gt;Obligations of U.S. Government and its agencies&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;20,266&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;34&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;20,298&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Corporate debt securities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,179&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;26&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,199&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Certificates of deposit&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14,962&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(11&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14,975&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt"&gt;Total investments&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;41,407&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;77&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(23&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;41,472&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The following table summarizes the scheduled maturity for the Company&amp;#x2019;s investments at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 67%; font-size: 10pt; text-align: left"&gt;Maturing in one year or less&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;64,115&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;32,546&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Maturing after one year through two years&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;34,257&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,926&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Maturing after two years&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,038&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt"&gt;Total investments&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;105,410&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;41,472&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;/div&gt; &lt;!-- Field: Page; Sequence: 62; Value: 60 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Receivable from Collaborations&lt;/div&gt;&lt;/div&gt; &amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;Receivables from collaborations are recorded for amounts due to the Company related to reimbursable research and development costs from the U.S. Department of Health and Human Services, royalty receivables from Shionogi, Green Cross Corporation (&amp;#x201c;Green Cross&amp;#x201d;), Mundipharma International Holdings Limited (&amp;#x201c;Mundipharma&amp;#x201d;) and Seqirus UK Limited (&amp;#x201c;SUL&amp;#x201d;), and product sales to SUL. These receivables are evaluated to determine if any reserve or allowance should be established at each reporting date. At &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016,&lt;/div&gt; the Company had the following receivables.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;December&amp;nbsp;31, 2017&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Billed&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Unbilled&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 52%; font-size: 10pt; text-align: left"&gt;U.S. Department of Health and Human Services&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;42&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,020&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,062&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Shionogi&amp;nbsp;&amp;amp; Co. Ltd.&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,600&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,600&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Green Cross Corporation&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,388&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;28&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,416&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Mundipharma International Holdings Limited&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;47&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;47&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Seqirus UK Limited&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;825&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;167&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;992&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt"&gt;Total receivables&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,902&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,215&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,117&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;December&amp;nbsp;31, 2016&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Billed&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Unbilled&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 52%; font-size: 10pt; text-align: left"&gt;U.S. Department of Health and Human Services&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,495&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,495&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Shionogi&amp;nbsp;&amp;amp; Co. Ltd.&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,451&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,451&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Green Cross Corporation&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;686&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;686&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Seqirus UK Limited&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;957&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;179&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,136&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt"&gt;Total receivables&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,094&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,674&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,768&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;Monthly invoices are submitted to the U.S. Department of Health and Human Services related to reimbursable research and development costs. The Company is also entitled to monthly reimbursement of indirect costs based on rates stipulated in the underlying contract. The Company&amp;#x2019;s calculations of its indirect cost rates are subject to audit by the U.S. Government.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Receivables from Product Sales&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;Receivables from product sales are recorded for amounts due to the Company related to sales of RAPIVAB. These receivables are evaluated to determine if any reserve or allowance should be established at each reporting date.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0"&gt;&amp;nbsp;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Inventory&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;At &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016, &lt;/div&gt;the Company&amp;#x2019;s inventory consisted primarily of peramivir work in process and is being manufactured for the Company&amp;#x2019;s partners. Inventory is stated at the lower of cost and net realizable value, determined under the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;first&lt;/div&gt;-in, &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;first&lt;/div&gt;-out (&amp;#x201c;FIFO&amp;#x201d;) method, or market. The Company expenses costs related to the production of inventories as research and development expenses in the period incurred until such time it is believed that future economic benefit is expected to be recognized, which generally is reliant upon receipt of regulatory approval. Upon regulatory approval, the Company will capitalize subsequent costs related to the production of inventories.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Property and Equipment&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;Property and equipment are recorded at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Computer equipment is depreciated over a life of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;three&lt;/div&gt; years. Laboratory equipment, office equipment, and software are depreciated over a life of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;five&lt;/div&gt; years. Furniture and fixtures are depreciated over a life of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;seven&lt;/div&gt; years. Leasehold improvements are amortized over their estimated useful lives or the expected lease term, whichever is less. Property consists of a leased building which did &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; meet the sale-leaseback criteria and is recorded at its fair value, less depreciation. The building is being depreciated over a period equal to the expected term of the related lease.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;In accordance with U.S. GAAP, the Company periodically reviews its property and equipment for impairment when events or changes in circumstances indicate that the carrying amount of such assets &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; be recoverable. Determination of recoverability is based on an estimate of undiscounted future cash flows resulting from the use of the asset and its eventual disposition. In the event that such cash flows are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; expected to be sufficient to recover the carrying amount of the assets, the assets are written down to their estimated fair values. Property and equipment to be disposed of are reported at the lower of carrying amount or fair value less cost to sell.&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Patents and Licenses&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company seeks patent protection on all internally developed processes and products. All patent related costs are expensed to selling, general and administrative expenses when incurred as recoverability of such expenditures is uncertain.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;/div&gt; &lt;!-- Field: Page; Sequence: 63; Value: 60 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Accrued Expenses&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company generally enters into contractual agreements with &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt;-party vendors who provide research and development, manufacturing, and other services in the ordinary course of business. Some of these contracts are subject to milestone-based invoicing and services are completed over an extended period of time. The Company records liabilities under these contractual commitments when it determines an obligation has been incurred, regardless of the timing of the invoice. This process involves reviewing open contracts and purchase orders, communicating with applicable Company personnel to identify services that have been performed on its behalf and estimating the level of service performed and the associated cost incurred for the service when the Company has &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; yet been invoiced or otherwise notified of actual cost. The majority of service providers invoice the Company monthly in arrears for services performed. The Company makes estimates of accrued expenses as of each balance sheet date in its financial statements based on the facts and circumstances. The Company periodically confirms the accuracy of its estimates with the service providers and makes adjustments if necessary. Examples of estimated accrued expenses include:&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellspacing="0" cellpadding="0" style="; border-collapse: collapse; font-size: 10pt; min-width: 700px;"&gt;  &lt;tr&gt; &lt;td style="width: 5%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top; width: 2%"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;#x2022;&lt;/div&gt;&lt;/td&gt; &lt;td style="vertical-align: top; width: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top; width: 91%"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;fees paid to Clinical Research Organizations (&amp;#x201c;CROs&amp;#x201d;) in connection with preclinical and toxicology studies and clinical trials;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;#x2022;&lt;/div&gt;&lt;/td&gt; &lt;td style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;fees paid to investigative sites in connection with clinical trials;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;#x2022;&lt;/div&gt;&lt;/td&gt; &lt;td style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;fees paid to contract manufacturers in connection with the production of the Company&amp;#x2019;s raw materials, drug substance and drug products;&amp;nbsp;and&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;#x2022;&lt;/div&gt;&lt;/td&gt; &lt;td style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="vertical-align: top"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;professional fees.&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company bases its expenses related to clinical trials on its estimates of the services received and efforts expended pursuant to contracts with multiple research institutions and CROs that conduct and manage clinical trials on the Company&amp;#x2019;s behalf. The financial terms of these agreements are subject to negotiation, vary from contract to contract and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;result in uneven payment flows. Payments under some of these contracts depend on factors such as the successful enrollment of patients and the completion of clinical trial milestones. In accruing service fees, the Company estimates the time period over which services will be performed and the level of effort expended in each period. If the actual timing of the performance of services or the level of effort varies from the estimate, the Company will adjust the accrual accordingly. As of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016, &lt;/div&gt;the carrying value of accrued expenses approximates their fair value due to their short-term settlement.&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: center; margin: 0pt 0"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"&gt;Accrued expenses were comprised of the following:&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;December 31,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 67%; font-size: 10pt; text-align: left"&gt;Compensation and benefits&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,905&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 2%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 13%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;425&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Development costs&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,683&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,427&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Inventory&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;705&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Professional fees&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;729&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;242&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Duties and taxes&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;148&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;56&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Other&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,234&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,981&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt"&gt;Total accrued expenses&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,699&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,836&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Income Taxes&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The liability method is used in the Company&amp;#x2019;s accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;On &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 22, 2017, &lt;/div&gt;the SEC staff issued Staff Accounting Bulletin &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;No.&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;118&lt;/div&gt; (&amp;#x201c;SAB &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;118&amp;#x201d;&lt;/div&gt;), which provides guidance on accounting for the tax effects of the Tax Cuts and Jobs Act (&amp;#x201c;TCJA&amp;#x201d;). SAB &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;118&lt;/div&gt; provides a measurement period that should &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; extend beyond &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; year from the TCJA enactment date for companies to complete the accounting under ASC &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;740,&lt;/div&gt; Income Taxes. As of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;the Company has &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; completed its accounting related to the enactment of the Tax Act.&amp;nbsp;However, the Company has made reasonable estimates of the effects on its income tax provision with respect to certain items, primarily the revaluation of its existing U.S. deferred tax balances as described in Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Accumulated Other Comprehensive Loss&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;Accumulated other comprehensive loss is comprised of unrealized gains and losses on available-for-sale investments and is disclosed as a separate component of stockholders&amp;#x2019; equity. Amounts reclassified from accumulated other comprehensive loss are recorded as interest and other income on the Consolidated Statements of Comprehensive Loss. During &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016,&lt;/div&gt; a realized loss of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$1&lt;/div&gt; and a realized gain of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$11,&lt;/div&gt; respectively, were reclassified out of accumulated other comprehensive loss.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Revenue Recognition&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company recognizes revenues from collaborative and other research and development arrangements, royalties and product sales when realized or realizable and earned. Revenue is realized or realizable and earned when all of the following criteria are met: (i)&amp;nbsp;persuasive evidence of an arrangement exists; (ii)&amp;nbsp;delivery has occurred or services have been rendered; (iii)&amp;nbsp;the seller&amp;#x2019;s price to the buyer is fixed or determinable; and (iv)&amp;nbsp;collectability is reasonably assured.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;/div&gt; &lt;!-- Field: Page; Sequence: 64; Value: 60 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Collaborative and Other Research and Development Arrangements and Royalties&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;Revenue from license fees, royalty payments, event payments, and research and development fees are recognized as revenue when the earnings process is complete and the Company has &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; further continuing performance obligations or the Company has completed the performance obligations under the terms of the agreement. Fees received under licensing agreements that are related to future performance are deferred and recognized over an estimated period determined by management based on the terms of the agreement and the products licensed. Revisions to revenue or profit estimates as a result of changes in the estimated revenue period are recognized prospectively.&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;Under certain of the Company&amp;#x2019;s license agreements, the Company receives royalty payments based upon its licensees&amp;#x2019; net sales of covered products. The Company recognizes royalty revenues when it can reliably estimate such amounts and collectability is reasonably assured.&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;For arrangements that involve the delivery of more than &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; element, each product, service and/or right to use assets is evaluated to determine whether it qualifies as a separate unit of accounting. This determination is based on whether the deliverable has &amp;#x201c;stand-alone value&amp;#x201d; to the customer. The consideration that is fixed or determinable is then allocated to each separate unit of accounting based on the relative selling price of each deliverable. The estimated selling price of each deliverable is determined using the following hierarchy of values: (i) vendor-specific objective evidence of fair value, (ii) &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt;-party evidence of selling price (&amp;#x201c;TPE&amp;#x201d;) and (iii) best estimate of selling price (&amp;#x201c;BESP&amp;#x201d;). The BESP reflects the Company&amp;#x2019;s best estimate of what the selling price would be if the deliverable was regularly sold by the Company on a stand-alone basis. In most cases the Company expects to use TPE or BESP for allocating consideration to each deliverable. The consideration allocated to each unit of accounting is recognized as the related goods or services are delivered, limited to the consideration that is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; contingent upon future deliverables. Analyzing the arrangement to identify deliverables requires the use of judgment, and each deliverable &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;be an obligation to deliver services, a right or license to use an asset, or another performance obligation.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; June 2015, &lt;/div&gt;the Company entered into a License Agreement (the &amp;#x201c;SUL Agreement&amp;#x201d;) granting SUL and its affiliates worldwide rights, excluding Israel, Japan, Korea and Taiwan, to develop, manufacture and commercialize RAPIVAB. The SUL Agreement provides for various types of payments, including a non-refundable upfront fee, milestone payments, and future royalties. Analysis of the SUL Agreement identified &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;three&lt;/div&gt; deliverables: (i) license rights, (ii) inventory and (iii) regulatory support to obtain Canadian and European Union (&amp;#x201c;EU&amp;#x201d;) marketing approvals. The Company received an upfront payment of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$33,740&lt;/div&gt; from SUL, of which &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$7,000&lt;/div&gt; was determined to be contingent upon EU marketing approval and will be deferred until that time. Approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$21,777&lt;/div&gt; of the upfront payment was allocated to the license rights and recognized as revenue in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015.&lt;/div&gt; Approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$3,740&lt;/div&gt; of the upfront payment was allocated to the pending sale of inventory and was recognized in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015,&lt;/div&gt; when the inventory transfer was completed. Approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$1,223&lt;/div&gt; of the revenue from the SUL Agreement was recognized over the period of involvement in regulatory support activities.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;Milestone payments are recognized as licensing revenue upon the achievement of specified milestones if (i) the milestone is substantive in nature and the achievement of the milestone was &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; reasonably assured at the inception of the agreement; and (ii) the fees are non-refundable. Any milestone payments received prior to satisfying these revenue recognition criteria are recorded as deferred revenue.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;During &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; the Company received a &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$2,000&lt;/div&gt; milestone payment related to the approval of RAPIVAB by Health Canada and a &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$5,000&lt;/div&gt; milestone payment associated with the FDA approval of a supplemental new drug application (&amp;#x201c;sNDA&amp;#x201d;) for RAPIVAB extending its availability for the treatment of acute uncomplicated influenza to pediatric patients &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;two&lt;/div&gt; years and older. The Company evaluated each event based payment under the provisions of ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2010&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17,&lt;/div&gt; Milestone Method of Revenue Recognition, and determined that each event based payment met the criteria to be considered substantive and represents a milestone under the milestone method of accounting. Under the terms of the SUL Agreement, the Company &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;receive an additional &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$5,000&lt;/div&gt; payment related to the successful marketing approval by the EMA for an adult indication in the EU. &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;No&lt;/div&gt; event-based payments were achieved during &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016.&lt;/div&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;Reimbursements received for direct out-of-pocket expenses related to research and development costs are recorded as revenue in the Consolidated Statements of Comprehensive Loss rather than as a reduction in expenses. Under the Company&amp;#x2019;s contracts with the Biomedical Advanced Research and Development Authority within the United States Department of Health and Human Services (&amp;#x201d;BARDA/HHS&amp;#x201d;) and the National Institute of Allergy and Infectious Diseases (&amp;#x201c;NIAID/HHS&amp;#x201d;), revenue is recognized as reimbursable direct and indirect costs are incurred.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Product Sales&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company recognizes revenue for sales of RAPIVAB when title and substantially all the risks and rewards of ownership have transferred to the customer, which generally occurs on the date of shipment from the Company&amp;#x2019;s specialty distributors, utilizing the Sell-Through revenue recognition methodology. Product sales are recognized when there is persuasive evidence that an arrangement exists, title has passed, the price is fixed and determinable, and collectability is reasonably assured. Product sales are recognized net of estimated allowances, discounts, sales returns, chargebacks and rebates. In the United States, and prior to the SUL Agreement, the Company sold RAPIVAB to specialty distributors, who in turn, sell to physician offices, hospitals and federal, state and commercial health care organizations.&amp;nbsp;With the completion of the SUL worldwide license of RAPIVAB, SUL will be responsible for sales of RAPIVAB, other than U.S. Government stockpiling sales. With the completion of the SUL collaboration, all peramivir sales (i.e., RAPIVAB, RAPIACTA, and PERAMIFLU) will be made by the Company&amp;#x2019;s partners, except for U.S. Government stockpiling sales, and the Company will be reliant on these partners to generate sales.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;/div&gt; &lt;!-- Field: Page; Sequence: 65; Value: 60 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;Sales deductions consist of statutory rebates to state Medicaid, Medicare and other government agencies and sales discounts (including trade discounts and distribution service fees). These deductions are recorded as reductions from revenue from RAPIVAB in the same period as the related sales with estimates of future utilization derived from historical experience adjusted to reflect known changes in the factors that impact such reserves.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company utilizes data from external sources to help it estimate gross-to-net sales adjustments as they relate to the recognition of revenue for RAPIVAB sold. Externally sourced data includes, but is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; limited to, information obtained from specialty distributors with respect to their inventory levels and their sell-through to customers, as well as information from &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt;-party suppliers of market research data to the pharmaceutical industry.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company accounts for these sales deductions in accordance with authoritative guidance on revenue recognition when consideration is given by a vendor to a customer.&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company has categorized and described more fully the following significant sales deductions, all of which involve estimates and judgments, which the Company considers to be critical accounting estimates, and require it to use information from external sources.&amp;nbsp;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 13.5pt"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 13.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 13.5pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Rebates and Chargebacks&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 13.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;Statutory rebates to state Medicaid agencies and Medicare are based on statutory discounts to RAPIVAB&amp;#x2019;s selling price.&amp;nbsp;As it can take up to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;nine&lt;/div&gt; months or more for information to be received on actual usage of RAPIVAB in Medicaid and other governmental programs, the Company maintains reserves for amounts payable under these programs relating to RAPIVAB sales.&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;Chargebacks claimed by specialty distributors are based on the differentials between product acquisition prices paid by the specialty distributors and lower government contract pricing paid by eligible customers covered under federally qualified programs.&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;The amount of the reserve for rebates and chargebacks is based on multiple qualitative and quantitative factors, including the historical and projected utilization levels, historical payment experience, changes in statutory laws and interpretations as well as contractual terms, product pricing (both normal selling prices and statutory or negotiated prices), changes in prescription demand patterns and utilization of the Company&amp;#x2019;s product through public benefit plans, and the levels of RAPIVAB inventory in the distribution channel. The Company acquires prescription utilization data from &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt;-party suppliers of market research data to the pharmaceutical industry. The Company updates its estimates and assumptions each period and records any necessary adjustments to its reserves. Settlements of rebates and chargebacks typically occur within &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;nine&lt;/div&gt; months from point of sale. To the extent actual rebates and chargebacks differ from the Company&amp;#x2019;s estimates, additional reserves &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;be required or reserves &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;need to be reversed, either of which would impact current period product revenue.&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Discounts and Sales Incentives&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 0.25in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;Discounts and other sales incentives primarily consist of Inventory Management Agreement (&amp;#x201c;IMA&amp;#x201d;) fees. Per contractual agreements with the Company&amp;#x2019;s specialty distributors, the Company provides an IMA fee based on a percentage of their purchases of RAPIVAB. The IMA fee rates are set forth in individual contracts. The Company tracks sales to these distributors each period and accrues a liability relating to the unpaid portion of these fees by applying the contractual rates to such product sales.&amp;nbsp;With the completion of the SUL collaboration, all peramivir sales (i.e., RAPIVAB, RAPIACTA, and PERAMIFLU) will be made by the Company&amp;#x2019;s partners, except for U.S. Government stockpiling sales, and the Company will be reliant on these partners to generate sales and to provide for discounts and sales incentives.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Product Returns&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 0.25in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; record a product return allowance as it does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; offer the ability to return goods once a bonafide shipment has been accepted by a specialty distributor.&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;/div&gt; &lt;!-- Field: Page; Sequence: 66; Value: 60 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company recorded the following revenues for the years ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31:&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 13.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;Product sales, net&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,501&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,269&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,291&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Royalty revenue&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,543&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,682&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,386&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Collaborative and other research and development revenues:&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;U.S. Department of Health and Human Services&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,608&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,449&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16,337&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Green Cross Corporation&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x2014;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;132&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 10pt"&gt;Shionogi &amp;amp; Co. Ltd.&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,184&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,184&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,184&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt"&gt;Seqirus UK Limited&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,350&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;769&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;21,927&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Total collaborative and other research and development revenues&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13,142&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14,402&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;39,580&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt"&gt;Total revenues&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;25,186&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;26,353&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 2.25pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;$&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;48,257&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Advertising&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company engages in very limited distribution and direct-response advertising when promoting RAPIVAB. Advertising and promotional costs are expensed as the costs are incurred. The Company did &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; incur advertising and product promotion expenses in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016.&lt;/div&gt; Advertising and product promotion expenses were &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$103&lt;/div&gt; for the year ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Research and Development Expenses&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The Company&amp;#x2019;s research and development costs are charged to expense when incurred. Research and development expenses include all direct and indirect development costs related to the development of the Company&amp;#x2019;s portfolio of product candidates. Advance payments for goods or services that will be used or rendered for future research and development activities are deferred and capitalized. Such amounts are recognized as expense when the related goods are delivered or the related services are performed. Research and development expenses include, among other items, personnel costs, including salaries and benefits, manufacturing costs, clinical, regulatory, and toxicology services performed by CROs, materials and supplies, and overhead allocations consisting of various administrative and facilities related costs. Most of the Company&amp;#x2019;s manufacturing and clinical and preclinical studies are performed by &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt;-party CROs. Costs for studies performed by CROs are accrued by the Company over the service periods specified in the contracts and estimates are adjusted, if required, based upon the Company&amp;#x2019;s on-going review of the level of services actually performed.&amp;nbsp;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;Additionally, the Company has license agreements with &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt; parties, such as Albert Einstein College of Medicine of Yeshiva University (&amp;#x201c;AECOM&amp;#x201d;), Industrial Research, Ltd. (&amp;#x201c;IRL&amp;#x201d;), and the University of Alabama at Birmingham (&amp;#x201c;UAB&amp;#x201d;), which require fees related to sublicense agreements or maintenance fees. The Company expenses sublicense payments as incurred unless they are related to revenues that have been deferred, in which case the expenses are deferred and recognized over the related revenue recognition period. The Company expenses maintenance payments as incurred.&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;Deferred collaboration expenses represent sub-license payments, paid to the Company&amp;#x2019;s academic partners upon receipt of consideration from various commercial partners, and other consideration paid to the Company&amp;#x2019;s academic partners for modification to existing license agreements. These deferred expenses would &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; have been incurred without receipt of such payments or modifications from the Company&amp;#x2019;s commercial partners and are being expensed in proportion to the related revenue being recognized. The Company believes that this accounting treatment appropriately matches expenses with the associated revenue.&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Stock-Based Compensation&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;All share-based payments, including grants of stock option awards and restricted stock unit awards, are recognized in the Company&amp;#x2019;s Consolidated Statements of Comprehensive Loss based on their fair values. The fair value of stock option awards is estimated using the Black-Scholes option pricing model. The fair value of restricted stock unit awards is based on the grant date closing price of the common stock. Stock-based compensation cost is recognized as expense on a straight-line basis over the requisite service period of the award. In addition, we have outstanding performance-based stock options for which &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; compensation expense is recognized until &amp;#x201c;performance&amp;#x201d; is deemed to have occurred.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Interest Expense and Deferred Financing Costs&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;Interest expense for the years ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015&lt;/div&gt; was &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$8,565,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$6,487&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$5,200,&lt;/div&gt; respectively, and primarily relates to the issuance of the PhaRMA Notes (defined in Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt;) and the Senior Credit Facility (defined in Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4&lt;/div&gt;). Costs directly associated with the issuance of the PhaRMA Notes and the Senior Credit Facility have been capitalized and are netted against the non-recourse notes payable and Senior Credit Facility on the Consolidated Balance Sheets. These costs are being amortized to interest expense over the terms of the PhaRMA Notes and the Senior Credit Facility using the effective interest rate method. Amortization of deferred financing costs and original issue discount included in interest expense was &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$876,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$558&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$439&lt;/div&gt; for each of the years ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015,&lt;/div&gt; respectively.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;/div&gt; &lt;!-- Field: Page; Sequence: 67; Value: 60 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 13.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Lease Financing Obligation&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;Based on the terms of the lease agreement for the new research facility in Birmingham, Alabama, the Company had construction period risks during the construction period and the Company was deemed the owner of the building (for accounting purposes only) during the construction period, which ended in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016.&lt;/div&gt; Accordingly, the Company recorded an asset of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$1,589&lt;/div&gt; at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2015, &lt;/div&gt;representing the Company&amp;#x2019;s leased portion of the building and recorded a corresponding liability. Upon completion of leasehold improvement construction, the Company did &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; meet the sale-leaseback criteria for de-recognition of the building asset and liability. Therefore, the lease is accounted for as a financing obligation. The asset will be depreciated over the expected duration of the lease of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;20.5&lt;/div&gt; years, and rental payments will be treated as principal and interest payments on the lease financing obligation liability. The underlying accounting for this transaction has &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; impact on cash flows associated with the underlying lease or construction in process. Interest expense for the years ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; includes &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$299&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$408,&lt;/div&gt; respectively, related to the lease financing obligation.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;At each of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016,&lt;/div&gt; the lease financing obligation balance was &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$2,704&lt;/div&gt; and was recorded as a long-term liability on the consolidated balance sheets. At &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 &lt;/div&gt;the remaining future minimum payments under the lease financing obligation are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$4,334.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Currency Hedge Agreement&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"&gt;In connection with the issuance by Royalty Sub of the PhaRMA Notes, the Company entered into a Currency Hedge Agreement to hedge certain risks associated with changes in the value of the Japanese yen relative to the U.S. dollar. The Currency Hedge Agreement does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; qualify for hedge accounting treatment; therefore mark to market adjustments are recognized in the Company&amp;#x2019;s Consolidated Statements of Comprehensive Loss. Cumulative mark to market adjustments for the years ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015&lt;/div&gt; resulted in losses of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$1,787,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$1,654&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$564,&lt;/div&gt; respectively. Mark to market adjustments are determined by a &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt;-party pricing model which uses quoted prices in markets that are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; actively traded and for which significant inputs are observable directly or indirectly, representing Level &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2&lt;/div&gt; in the fair value hierarchy as defined by U.S. GAAP. In addition, realized currency exchange gains of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$966,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$811&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$1,654&lt;/div&gt; were recognized in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015,&lt;/div&gt; respectively, related to the exercise of a U.S. dollar/Japanese yen currency option under the Company&amp;#x2019;s foreign currency hedge. The Company is also required to post collateral in connection with the mark to market adjustments based on defined thresholds. As of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; hedge collateral was posted under the Currency Hedge Agreement.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Net Loss Per Share&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;Net loss per share is based upon the weighted average number of common shares outstanding during the period. Diluted loss per share is equivalent to basic net loss per share for all periods presented herein because common equivalent shares from unexercised stock options, outstanding warrants, and common shares expected to be issued under the Company&amp;#x2019;s employee stock purchase plan were anti-dilutive. The calculation of diluted earnings per share for the years ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016,&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015&lt;/div&gt; does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; include &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,067,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,226&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,524&lt;/div&gt; respectively, of potential common shares as their impact would be anti-dilutive.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"&gt;&amp;nbsp;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Use of Estimates&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;The preparation of financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the financial statements. Actual results could differ from those estimates.&amp;nbsp;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 13.5pt; margin: 0pt 0"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 13.5pt; margin: 0pt 0"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Significant Customers and Other Risks&lt;/div&gt;&lt;/div&gt;&lt;div style="display: inline; font-style: italic;"&gt; &amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 13.5pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Significant Customers&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;Prior to the SUL Agreement, the Company relied primarily on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;three&lt;/div&gt; specialty distributors to purchase and supply the majority of RAPIVAB. These &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;three&lt;/div&gt; pharmaceutical specialty distributors accounted for greater than &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;90%&lt;/div&gt; of all RAPIVAB product sales and accounted for predominantly all of the Company&amp;#x2019;s outstanding receivables from product sales. The loss of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; or more of these specialty distributors as a customer could have negatively impacted the commercialization of RAPIVAB. However, the Company will utilize these specialty distributors on a limited basis subsequent to the SUL collaboration as SUL, and other peramivir collaboration partners, will be responsible for commercial sales on a worldwide basis. In addition, in connection with the SUL collaboration, all peramivir sales (i.e., RAPIVAB, RAPIACTA, and PERAMIFLU) will be made by the Company&amp;#x2019;s partners and the Company will be reliant on these partners to generate sales and remit cash to satisfy receivables.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;/div&gt; &lt;!-- Field: Page; Sequence: 68; Value: 60 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt"&gt;Other than royalty revenues, the Company&amp;#x2019;s primary source of revenue that has an underlying cash flow stream is the reimbursement of galidesivir (formerly &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;BCX4430&lt;/div&gt;) development expenses earned under cost-plus-fixed-fee contracts with BARDA/HHS and NIAID/HHS. The Company relies on BARDA/HHS and NIAID/HHS to reimburse predominantly all of the development costs for its galidesivir program. Accordingly, reimbursement of these expenses represents a significant portion of the Company&amp;#x2019;s collaborative and other research and development revenues. The completion or termination of the NIAID/HHS and BARDA/HHS galidesivir contracts could negatively impact the Company&amp;#x2019;s future Consolidated Statements of Comprehensive Loss and Cash Flows. The Company recognizes royalty revenue from the net sales of RAPIACTA by Shionogi; however, the underlying cash flow from these royalty payments, except for Japanese government stockpiling sales, goes directly to pay the interest, and then the principal, on the Company&amp;#x2019;s non-recourse notes payable. Payment of the interest and the ultimate repayment of principal of these notes will be entirely funded by future royalty payments derived from net sales of RAPIACTA. Further, the Company&amp;#x2019;s drug development activities are performed by a limited group of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt; party vendors. If any of these vendors were unable to perform their services, this could significantly impact the Company&amp;#x2019;s ability to complete its drug development activities.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Risks from Third Party Manufacturing and Distribution Concentration&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 22.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;The Company relies on single source manufacturers for active pharmaceutical ingredient and finished drug product manufacturing of product candidates in development. Delays in the manufacture or distribution of any product could adversely impact the commercial revenue and future procurement stockpiling of the Company&amp;#x2019;s product candidates in development.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Credit Risk&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 22.5pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"&gt;Cash equivalents and investments are financial instruments which potentially subject the Company to concentration of risk to the extent recorded on the Consolidated Balance Sheets. The Company deposits excess cash with major financial institutions in the United States. Balances &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;exceed the amount of insurance provided on such deposits. The Company believes it has established guidelines for investment of its excess cash relative to diversification and maturities that maintain safety and liquidity. To minimize the exposure due to adverse shifts in interest rates, the Company maintains a portfolio of investments with an average maturity of approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18&lt;/div&gt; months or less. 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(&amp;#x201c;Idera&amp;#x201d;), a Delaware corporation, Nautilus Holdco,&amp;nbsp;Inc., a Delaware corporation and a direct, wholly owned subsidiary of BioCryst (&amp;#x201c;Holdco&amp;#x201d;),&amp;nbsp;Island Merger Sub,&amp;nbsp;Inc., a Delaware corporation and a direct, wholly owned subsidiary of Holdco (&amp;#x201c;Merger Sub A&amp;#x201d;), and Boat Merger Sub,&amp;nbsp;Inc., a Delaware corporation and a direct, wholly owned subsidiary of Holdco (&amp;#x201c;Merger Sub B&amp;#x201d;), entered into an Agreement and Plan of Merger (the &amp;#x201c;Merger Agreement&amp;#x201d;). Pursuant to the Merger Agreement, and subject to the satisfaction or waiver of the conditions specified therein, (a)&amp;nbsp;Merger Sub A shall be merged with and into Idera (the &amp;#x201c;Idera Merger&amp;#x201d;), with Idera surviving as a wholly owned subsidiary of Holdco, and (b)&amp;nbsp;Merger Sub B shall be merged with and into BioCryst (the &amp;#x201c;BioCryst Merger&amp;#x201d;, and, together with the Idera Merger, the &amp;#x201c;Mergers&amp;#x201d;), with BioCryst surviving as a wholly owned subsidiary of Holdco. 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The exchange ratios will &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; be adjusted for changes in the market price of either BioCryst common stock or Idera common stock between the date of signing of the Merger Agreement and completion of the Mergers. 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Advisors, LP (&amp;quot;Baker Brothers&amp;quot;), which, as of the date of the Merger Agreement, are the beneficial owner of approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14%&lt;/div&gt; of issued and outstanding BioCryst common stock and approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9%&lt;/div&gt; of issued and outstanding Idera common stock, have agreed, among other things, to vote their shares of BioCryst common stock and Idera common stock in favor of the proposal to adopt the Merger Agreement at each of the BioCryst special meeting and Idera special meeting. &lt;div style="display: inline; color: #333333"&gt;The combined company, which will be renamed post-closing, will be headquartered in Exton, PA, at the current Idera headquarters, with a consolidated research center in Birmingham, AL, at the current BioCryst facility. The transaction is expected to be completed during the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;second&lt;/div&gt; quarter of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2018.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0pt 0"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"&gt;On &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; March 6, 2018, &lt;/div&gt;a purported stockholder of&amp;nbsp;BioCryst&amp;nbsp;filed a putative class action lawsuit against&amp;nbsp;BioCryst, the BioCryst board of directors, Idera, Holdco, Merger Sub A and Merger Sub B&amp;nbsp;in the United States District Court for the District of Delaware, captioned&amp;nbsp;&lt;div style="display: inline; font-style: italic;"&gt;Melvyn Klein v. 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  <xsd:element id="bcrx_AdvanceNoticePeriodForTerminationOfAgreement" name="AdvanceNoticePeriodForTerminationOfAgreement" nillable="true" substitutionGroup="xbrli:item" type="xbrli:durationItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_AgreementMember" name="AgreementMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_AmortizationOfDiscountAndPremiumOnInvestments" name="AmortizationOfDiscountAndPremiumOnInvestments" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_AnnualLicenseFeeMaximum" name="AnnualLicenseFeeMaximum" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="bcrx_AnnualLicenseFeeMinimum" name="AnnualLicenseFeeMinimum" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="bcrx_August2013Member" name="August2013Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_AvailableForSaleSecuritiesAccruedInterest" name="AvailableForSaleSecuritiesAccruedInterest" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="bcrx_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsFairValue" name="AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsFairValue" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="bcrx_AvailableForSaleSecuritiesDebtMaturitiesFairValueTableTextBlock" name="AvailableForSaleSecuritiesDebtMaturitiesFairValueTableTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_AvailableForSaleSecuritiesDebtMaturitiesMaturingAfterTwoYears" name="AvailableForSaleSecuritiesDebtMaturitiesMaturingAfterTwoYears" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="bcrx_AverageMaturityPeriodOfHighQualityMarketableSecurities" name="AverageMaturityPeriodOfHighQualityMarketableSecurities" nillable="true" substitutionGroup="xbrli:item" type="xbrli:durationItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_BakerBrotherMember" name="BakerBrotherMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_BaseContractMember" name="BaseContractMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_BioCrystExchangeRatio" name="BioCrystExchangeRatio" nillable="true" substitutionGroup="xbrli:item" type="xbrli:pureItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_BiocrystMember" name="BiocrystMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_BirminghamResearchFacilityMember" name="BirminghamResearchFacilityMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_CSLLimitedMember" name="CSLLimitedMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_CSLMember" name="CSLMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_CollaborativeAgreementContractValue" name="CollaborativeAgreementContractValue" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_CollaborativeAndOtherResearchAndDevelopment" name="CollaborativeAndOtherResearchAndDevelopment" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_CollaborativeAndOtherResearchAndDevelopmentRevenues" name="CollaborativeAndOtherResearchAndDevelopmentRevenues" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_CollateralForCreditMember" name="CollateralForCreditMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_ConcentrationOfMarketRiskPolicyTextBlock" name="ConcentrationOfMarketRiskPolicyTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_ContingentUponEuMarketingApprovalMember" name="ContingentUponEuMarketingApprovalMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_CurrencyHedgeAgreementMember" name="CurrencyHedgeAgreementMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_CurrencyHedgeAgreementPolicyTextBlock" name="CurrencyHedgeAgreementPolicyTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_DebtInstrumentFinalPaymentFeePercentage" name="DebtInstrumentFinalPaymentFeePercentage" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_DebtInstrumentMinimumLibor" name="DebtInstrumentMinimumLibor" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_December2014Member" name="December2014Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_DeferredCollaborationExpenseAssets" name="DeferredCollaborationExpenseAssets" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="bcrx_DeferredCollaborationExpenseChangesInOperatingAssetsAndLiabilities" name="DeferredCollaborationExpenseChangesInOperatingAssetsAndLiabilities" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_DeferredTaxAssetsAndLiabilitiesRevaluatedMember" name="DeferredTaxAssetsAndLiabilitiesRevaluatedMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_DescriptionOfCompanyPolicyTextBlock" name="DescriptionOfCompanyPolicyTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_DocumentAndEntityInformation" name="DocumentAndEntityInformation" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_EffectiveIncomeTaxRateReconciliationTaxCreditOrphanDrugAmount" name="EffectiveIncomeTaxRateReconciliationTaxCreditOrphanDrugAmount" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearFour" name="EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearFour" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="bcrx_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearThree" name="EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearThree" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="bcrx_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearTwo" name="EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearTwo" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="bcrx_EmployeeServiceSharebasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedNextYear" name="EmployeeServiceSharebasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedNextYear" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="bcrx_EmployeeStockPurchasePlanMember" name="EmployeeStockPurchasePlanMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_ExercisePriceRange01Member" name="ExercisePriceRange01Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_ExercisePriceRange02Member" name="ExercisePriceRange02Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_ExercisePriceRange03Member" name="ExercisePriceRange03Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_ExercisePriceRange04Member" name="ExercisePriceRange04Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_ExercisePriceRange05Member" name="ExercisePriceRange05Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_ExercisePriceRange06Member" name="ExercisePriceRange06Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_GreenCrossCorporationMember" name="GreenCrossCorporationMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_IderaExchangeRatio" name="IderaExchangeRatio" nillable="true" substitutionGroup="xbrli:item" type="xbrli:pureItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_IderaMember" name="IderaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_IncentivePlanMember" name="IncentivePlanMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_IncomeTaxRateReconciliationAdoptionOfAccountingStandardsUpdateAmount" name="IncomeTaxRateReconciliationAdoptionOfAccountingStandardsUpdateAmount" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_IncomeTaxReconciliationIncomeTaxExpenseBenefitExpirationOfCarryForwards" name="IncomeTaxReconciliationIncomeTaxExpenseBenefitExpirationOfCarryForwards" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_IncreaseDecreaseInFinancingLeaseObligations" name="IncreaseDecreaseInFinancingLeaseObligations" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_InterestExpenseAndDeferredFinancingCostsPolicyTextBlock" name="InterestExpenseAndDeferredFinancingCostsPolicyTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_InterestReserve" name="InterestReserve" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_JPRRoyaltySubLLCMember" name="JPRRoyaltySubLLCMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_LaboratoryEquipmentMember" name="LaboratoryEquipmentMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_LaboratoryEquipmentOfficeEquipmentAndSoftwareMember" name="LaboratoryEquipmentOfficeEquipmentAndSoftwareMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_LeaseFinancingObligationNetOfCurrent" name="LeaseFinancingObligationNetOfCurrent" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="bcrx_LeasedEquipmentMember" name="LeasedEquipmentMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_LongTermLiabilitiesMember" name="LongTermLiabilitiesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_LongtermInvestmentMaturityMinimum" name="LongtermInvestmentMaturityMinimum" nillable="true" substitutionGroup="xbrli:item" type="xbrli:durationItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_MaturityPeriodOfHighQualityMarketablesecurities" name="MaturityPeriodOfHighQualityMarketablesecurities" nillable="true" substitutionGroup="xbrli:item" type="xbrli:durationItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_MaturityperiodOfShortTermInvestment" name="MaturityperiodOfShortTermInvestment" nillable="true" substitutionGroup="xbrli:item" type="xbrli:durationItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_MaximumAggregateOfferingPrice" name="MaximumAggregateOfferingPrice" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="bcrx_MaximumAmountOfCollateralRequiredToPost" name="MaximumAmountOfCollateralRequiredToPost" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="bcrx_MergerAgreementMember" name="MergerAgreementMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_MidCapFinancialServicesLLCMember" name="MidCapFinancialServicesLLCMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_MilestonePaymentMaximum" name="MilestonePaymentMaximum" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_MilestonePaymentMinimum" name="MilestonePaymentMinimum" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_MilestonePaymentReceived" name="MilestonePaymentReceived" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_MundipharmaInternationalHoldingsLimitedMember" name="MundipharmaInternationalHoldingsLimitedMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_MundipharmaMember" name="MundipharmaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_NonEmployeeDirectorsMember" name="NonEmployeeDirectorsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_NoteToFinancialStatementDetailsTextual" name="NoteToFinancialStatementDetailsTextual" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_NotesToFinancialStatements" name="NotesToFinancialStatements" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_NotesToFinancialStatementsAbstract" name="NotesToFinancialStatementsAbstract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_NumberOfMajorCustomers" name="NumberOfMajorCustomers" nillable="true" substitutionGroup="xbrli:item" type="xbrli:integerItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_NumberOfStockbasedCompensationPlans" name="NumberOfStockbasedCompensationPlans" nillable="true" substitutionGroup="xbrli:item" type="xbrli:integerItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_PaymentsForModificationOfLicenseAgreement" name="PaymentsForModificationOfLicenseAgreement" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_PercentageOfCarryingAmountInExcessOfFairValue1" name="PercentageOfCarryingAmountInExcessOfFairValue1" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element id="bcrx_PercentageOfCommonStockSharesBeginning" name="PercentageOfCommonStockSharesBeginning" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_PercentageOfCommonStockSharesEnding" name="PercentageOfCommonStockSharesEnding" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_PercentageOfSalaryToPurchaseCommonStockMaximum" name="PercentageOfSalaryToPurchaseCommonStockMaximum" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_PeriodOfAgreement" name="PeriodOfAgreement" nillable="true" substitutionGroup="xbrli:item" type="xbrli:durationItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_PhaRMANotesMember" name="PhaRMANotesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_PotentialMilestonePaymentsReceivable" name="PotentialMilestonePaymentsReceivable" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="bcrx_PrivatePlacementOfSeniorSecuredNotes" name="PrivatePlacementOfSeniorSecuredNotes" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_ProceedsFromAwardsForResearchAndDevelopmentContracts" name="ProceedsFromAwardsForResearchAndDevelopmentContracts" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_RAPIVABMember" name="RAPIVABMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_RegulatorySupportRevenueForCanadianAndEUMarketingApprovalsPortionRecognizedRatablyOverExpectedPeriodOfInvolvementMember" name="RegulatorySupportRevenueForCanadianAndEUMarketingApprovalsPortionRecognizedRatablyOverExpectedPeriodOfInvolvementMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_RenewablePeriodOfAgreement" name="RenewablePeriodOfAgreement" nillable="true" substitutionGroup="xbrli:item" type="xbrli:durationItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_RequiredForeignCurrencyHedgePerDollar" name="RequiredForeignCurrencyHedgePerDollar" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="bcrx_RevenueFromSaleOfInventoryToBeRecognizedWhenTheInventoryTransferIsCompleteMember" name="RevenueFromSaleOfInventoryToBeRecognizedWhenTheInventoryTransferIsCompleteMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_RevenueRecognitionRoyaltyAndMilestoneRevenueRecognized" name="RevenueRecognitionRoyaltyAndMilestoneRevenueRecognized" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="bcrx_RoyaltyMonetizationMember" name="RoyaltyMonetizationMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_RoyaltyMonetizationTextBlock" name="RoyaltyMonetizationTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_RoyaltyReceivableMember" name="RoyaltyReceivableMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_RoyaltyTerm" name="RoyaltyTerm" nillable="true" substitutionGroup="xbrli:item" type="xbrli:durationItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_ScheduleOfReceivablesFromCollaborationsTableTextBlock" name="ScheduleOfReceivablesFromCollaborationsTableTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_ScheduleOfRevenuesFromCollaborationsTableTextBlock" name="ScheduleOfRevenuesFromCollaborationsTableTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_SeniorCreditFacilityMember" name="SeniorCreditFacilityMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="bcrx_SeqirusUKLimitedMember" name="SeqirusUKLimitedMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_ShareBasedCompensationArrangementBySharbasedPaymentAwardMaximumNumberOfSharesPerEmployeeAmount" name="ShareBasedCompensationArrangementBySharbasedPaymentAwardMaximumNumberOfSharesPerEmployeeAmount" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:periodType="instant"/>
  <xsd:element id="bcrx_ShareBasedCompensationArrangementByShareBasedPaymentAwardFirstVestingPeriodAfterGrantDate" name="ShareBasedCompensationArrangementByShareBasedPaymentAwardFirstVestingPeriodAfterGrantDate" nillable="true" substitutionGroup="xbrli:item" type="xbrli:durationItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodAwardsAvailable" name="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodAwardsAvailable" nillable="true" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" xbrli:periodType="duration"/>
  <xsd:element id="bcrx_SharebasedCompensationArrangementBySharbasedPaymentAwardAwardsUnvestedPercentage" name="SharebasedCompensationArrangementBySharbasedPaymentAwardAwardsUnvestedPercentage" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
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<DOCUMENT>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtSecuritiesCurrent" xlink:label="us-gaap_AvailableForSaleSecuritiesDebtSecuritiesCurrent" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AvailableForSaleSecuritiesDebtSecuritiesCurrent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AvailableForSaleSecuritiesDebtSecuritiesCurrent" xlink:to="us-gaap_AvailableForSaleSecuritiesDebtSecuritiesCurrent-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LeaseArrangementTypeAxis" xlink:label="us-gaap_LeaseArrangementTypeAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_LeaseArrangementTypeAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lease Arrangement, Type [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeaseArrangementTypeAxis" xlink:to="us-gaap_LeaseArrangementTypeAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LeaseArrangementTypeDomain" xlink:label="us-gaap_LeaseArrangementTypeDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_LeaseArrangementTypeDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lease Arrangement, Type [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeaseArrangementTypeDomain" xlink:to="us-gaap_LeaseArrangementTypeDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember" xlink:to="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncreaseDecreaseInDeferredRevenue" xlink:label="us-gaap_IncreaseDecreaseInDeferredRevenue" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncreaseDecreaseInDeferredRevenue-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Deferred revenue</link:label>
    <link:label xlink:label="us-gaap_IncreaseDecreaseInDeferredRevenue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_IncreaseDecreaseInDeferredRevenue</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInDeferredRevenue" xlink:to="us-gaap_IncreaseDecreaseInDeferredRevenue-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax" xlink:label="us-gaap_ComprehensiveIncomeNetOfTax" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ComprehensiveIncomeNetOfTax-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ComprehensiveIncomeNetOfTax</link:label>
    <link:label xlink:label="us-gaap_ComprehensiveIncomeNetOfTax-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Comprehensive loss</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ComprehensiveIncomeNetOfTax" xlink:to="us-gaap_ComprehensiveIncomeNetOfTax-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LineOfCreditFacilityInterestRateAtPeriodEnd" xlink:label="us-gaap_LineOfCreditFacilityInterestRateAtPeriodEnd" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_LineOfCreditFacilityInterestRateAtPeriodEnd-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_LineOfCreditFacilityInterestRateAtPeriodEnd</link:label>
    <link:label xlink:label="us-gaap_LineOfCreditFacilityInterestRateAtPeriodEnd-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Line of Credit Facility, Interest Rate at Period End</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityInterestRateAtPeriodEnd" xlink:to="us-gaap_LineOfCreditFacilityInterestRateAtPeriodEnd-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_QuarterlyFinancialInformationTextBlock" xlink:label="us-gaap_QuarterlyFinancialInformationTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_QuarterlyFinancialInformationTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Quarterly Financial Information [Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_QuarterlyFinancialInformationTextBlock" xlink:to="us-gaap_QuarterlyFinancialInformationTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_EffectiveIncomeTaxRateReconciliationTaxCreditOrphanDrugAmount" xlink:label="bcrx_EffectiveIncomeTaxRateReconciliationTaxCreditOrphanDrugAmount" xlink:type="locator"/>
    <link:label xlink:label="bcrx_EffectiveIncomeTaxRateReconciliationTaxCreditOrphanDrugAmount-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Orphan drug credit</link:label>
    <link:label xlink:label="bcrx_EffectiveIncomeTaxRateReconciliationTaxCreditOrphanDrugAmount-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents orphan drug credit.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_EffectiveIncomeTaxRateReconciliationTaxCreditOrphanDrugAmount" xlink:to="bcrx_EffectiveIncomeTaxRateReconciliationTaxCreditOrphanDrugAmount-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restricted Cash and Cash Equivalents [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis" xlink:to="us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncreaseDecreaseInInterestPayableNet" xlink:label="us-gaap_IncreaseDecreaseInInterestPayableNet" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncreaseDecreaseInInterestPayableNet-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Interest payable</link:label>
    <link:label xlink:label="us-gaap_IncreaseDecreaseInInterestPayableNet-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_IncreaseDecreaseInInterestPayableNet</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInInterestPayableNet" xlink:to="us-gaap_IncreaseDecreaseInInterestPayableNet-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PreferredStockSharesOutstanding" xlink:label="us-gaap_PreferredStockSharesOutstanding" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_PreferredStockSharesOutstanding-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred stock, shares outstanding (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesOutstanding" xlink:to="us-gaap_PreferredStockSharesOutstanding-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_UseOfEstimates" xlink:label="us-gaap_UseOfEstimates" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_UseOfEstimates-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Use of Estimates, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UseOfEstimates" xlink:to="us-gaap_UseOfEstimates-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="us-gaap_CommonStockSharesOutstanding" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CommonStockSharesOutstanding-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common stock, shares outstanding (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesOutstanding" xlink:to="us-gaap_CommonStockSharesOutstanding-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayable" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayable" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncreaseDecreaseInAccountsPayable-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Accounts payable and accrued expenses</link:label>
    <link:label xlink:label="us-gaap_IncreaseDecreaseInAccountsPayable-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_IncreaseDecreaseInAccountsPayable</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccountsPayable" xlink:to="us-gaap_IncreaseDecreaseInAccountsPayable-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_MilestonePaymentReceived" xlink:label="bcrx_MilestonePaymentReceived" xlink:type="locator"/>
    <link:label xlink:label="bcrx_MilestonePaymentReceived-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_MilestonePaymentReceived</link:label>
    <link:label xlink:label="bcrx_MilestonePaymentReceived-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Milestone Payment Received</link:label>
    <link:label xlink:label="bcrx_MilestonePaymentReceived-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the amount of milestone payment received.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_MilestonePaymentReceived" xlink:to="bcrx_MilestonePaymentReceived-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SubsequentEventMember" xlink:label="us-gaap_SubsequentEventMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SubsequentEventMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventMember" xlink:to="us-gaap_SubsequentEventMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LineOfCreditFacilityLenderDomain" xlink:label="us-gaap_LineOfCreditFacilityLenderDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_LineOfCreditFacilityLenderDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit Facility, Lender [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityLenderDomain" xlink:to="us-gaap_LineOfCreditFacilityLenderDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LineOfCreditFacilityAxis" xlink:label="us-gaap_LineOfCreditFacilityAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_LineOfCreditFacilityAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lender Name [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityAxis" xlink:to="us-gaap_LineOfCreditFacilityAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SubsequentEventTypeDomain" xlink:label="us-gaap_SubsequentEventTypeDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SubsequentEventTypeDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventTypeDomain" xlink:to="us-gaap_SubsequentEventTypeDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SubsequentEventTypeAxis" xlink:label="us-gaap_SubsequentEventTypeAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SubsequentEventTypeAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventTypeAxis" xlink:to="us-gaap_SubsequentEventTypeAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SalesRevenueNet" xlink:label="us-gaap_SalesRevenueNet" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SalesRevenueNet-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_SalesRevenueNet</link:label>
    <link:label xlink:label="us-gaap_SalesRevenueNet-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total revenues</link:label>
    <link:label xlink:label="us-gaap_SalesRevenueNet-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenues</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SalesRevenueNet" xlink:to="us-gaap_SalesRevenueNet-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</link:label>
    <link:label xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents at beginning of year</link:label>
    <link:label xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents at end of year</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restricted cash</link:label>
    <link:label xlink:label="us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restricted Cash and Cash Equivalents, Current</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SubsequentEventsTextBlock" xlink:label="us-gaap_SubsequentEventsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SubsequentEventsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Events [Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventsTextBlock" xlink:to="us-gaap_SubsequentEventsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RoyaltyRevenue" xlink:label="us-gaap_RoyaltyRevenue" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_RoyaltyRevenue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Royalty revenue</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RoyaltyRevenue" xlink:to="us-gaap_RoyaltyRevenue-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SalesRevenueServicesNetAbstract" xlink:label="us-gaap_SalesRevenueServicesNetAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SalesRevenueServicesNetAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Collaborative and other research and development revenues:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SalesRevenueServicesNetAbstract" xlink:to="us-gaap_SalesRevenueServicesNetAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_IncreaseDecreaseInFinancingLeaseObligations" xlink:label="bcrx_IncreaseDecreaseInFinancingLeaseObligations" xlink:type="locator"/>
    <link:label xlink:label="bcrx_IncreaseDecreaseInFinancingLeaseObligations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase in lease financing obligation</link:label>
    <link:label xlink:label="bcrx_IncreaseDecreaseInFinancingLeaseObligations-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase (decrease) during the period for financing lease obligations.</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtDisclosureTextBlock" xlink:label="us-gaap_DebtDisclosureTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DebtDisclosureTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Disclosure [Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtDisclosureTextBlock" xlink:to="us-gaap_DebtDisclosureTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NotesPayableFairValueDisclosure" xlink:label="us-gaap_NotesPayableFairValueDisclosure" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_NotesPayableFairValueDisclosure-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_NotesPayableFairValueDisclosure</link:label>
    <link:label xlink:label="us-gaap_NotesPayableFairValueDisclosure-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes Payable, Fair Value Disclosure</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NotesPayableFairValueDisclosure" xlink:to="us-gaap_NotesPayableFairValueDisclosure-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue</link:label>
    <link:label xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock-based compensation expense</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:to="us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock" xlink:label="us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pension and Other Postretirement Benefits Disclosure [Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock" xlink:to="us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_SeqirusUKLimitedMember" xlink:label="bcrx_SeqirusUKLimitedMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_SeqirusUKLimitedMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Seqirus UK Limited [Member]</link:label>
    <link:label xlink:label="bcrx_SeqirusUKLimitedMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information pertaining to Seqirus UK Limited.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_SeqirusUKLimitedMember" xlink:to="bcrx_SeqirusUKLimitedMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ConcentrationRiskPercentage1" xlink:label="us-gaap_ConcentrationRiskPercentage1" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ConcentrationRiskPercentage1-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ConcentrationRiskPercentage1</link:label>
    <link:label xlink:label="us-gaap_ConcentrationRiskPercentage1-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Concentration Risk, Percentage</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskPercentage1" xlink:to="us-gaap_ConcentrationRiskPercentage1-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CustomerConcentrationRiskMember" xlink:label="us-gaap_CustomerConcentrationRiskMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CustomerConcentrationRiskMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Customer Concentration Risk [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CustomerConcentrationRiskMember" xlink:to="us-gaap_CustomerConcentrationRiskMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ConcentrationRiskTypeDomain" xlink:label="us-gaap_ConcentrationRiskTypeDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ConcentrationRiskTypeDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk Type [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskTypeDomain" xlink:to="us-gaap_ConcentrationRiskTypeDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ConcentrationRiskByTypeAxis" xlink:label="us-gaap_ConcentrationRiskByTypeAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ConcentrationRiskByTypeAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk Type [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskByTypeAxis" xlink:to="us-gaap_ConcentrationRiskByTypeAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_TitleOfIndividualWithRelationshipToEntityDomain" xlink:label="us-gaap_TitleOfIndividualWithRelationshipToEntityDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_TitleOfIndividualWithRelationshipToEntityDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Relationship to Entity [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TitleOfIndividualWithRelationshipToEntityDomain" xlink:to="us-gaap_TitleOfIndividualWithRelationshipToEntityDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncreaseDecreaseInDerivativeAssets" xlink:label="us-gaap_IncreaseDecreaseInDerivativeAssets" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncreaseDecreaseInDerivativeAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_IncreaseDecreaseInDerivativeAssets</link:label>
    <link:label xlink:label="us-gaap_IncreaseDecreaseInDerivativeAssets-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Change in fair value of foreign currency derivative</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInDerivativeAssets" xlink:to="us-gaap_IncreaseDecreaseInDerivativeAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_TitleOfIndividualAxis" xlink:label="us-gaap_TitleOfIndividualAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_TitleOfIndividualAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Title of Individual [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TitleOfIndividualAxis" xlink:to="us-gaap_TitleOfIndividualAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets</link:label>
    <link:label xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Prepaid expenses and other assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:to="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholders' Equity Note Disclosure [Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:to="us-gaap_StockholdersEquityNoteDisclosureTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SalesRevenueProductLineMember" xlink:label="us-gaap_SalesRevenueProductLineMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SalesRevenueProductLineMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sales Revenue, Product Line [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SalesRevenueProductLineMember" xlink:to="us-gaap_SalesRevenueProductLineMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SharesIssuedPricePerShare" xlink:label="us-gaap_SharesIssuedPricePerShare" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SharesIssuedPricePerShare-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_SharesIssuedPricePerShare</link:label>
    <link:label xlink:label="us-gaap_SharesIssuedPricePerShare-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Shares Issued, Price Per Share</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharesIssuedPricePerShare" xlink:to="us-gaap_SharesIssuedPricePerShare-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ConcentrationRiskBenchmarkDomain" xlink:label="us-gaap_ConcentrationRiskBenchmarkDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ConcentrationRiskBenchmarkDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk Benchmark [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskBenchmarkDomain" xlink:to="us-gaap_ConcentrationRiskBenchmarkDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AllocatedShareBasedCompensationExpense" xlink:label="us-gaap_AllocatedShareBasedCompensationExpense" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AllocatedShareBasedCompensationExpense-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_AllocatedShareBasedCompensationExpense</link:label>
    <link:label xlink:label="us-gaap_AllocatedShareBasedCompensationExpense-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Allocated Share-based Compensation Expense</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllocatedShareBasedCompensationExpense" xlink:to="us-gaap_AllocatedShareBasedCompensationExpense-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:label="us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ConcentrationRiskByBenchmarkAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk Benchmark [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:to="us-gaap_ConcentrationRiskByBenchmarkAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans" xlink:label="us-gaap_StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Employee stock purchase plan sales, shares (in shares)</link:label>
    <link:label xlink:label="us-gaap_StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Shares, Employee Stock Purchase Plans</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans" xlink:to="us-gaap_StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueEmployeeStockPurchasePlan" xlink:label="us-gaap_StockIssuedDuringPeriodValueEmployeeStockPurchasePlan" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StockIssuedDuringPeriodValueEmployeeStockPurchasePlan-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_StockIssuedDuringPeriodValueEmployeeStockPurchasePlan</link:label>
    <link:label xlink:label="us-gaap_StockIssuedDuringPeriodValueEmployeeStockPurchasePlan-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Employee stock purchase plan sales</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueEmployeeStockPurchasePlan" xlink:to="us-gaap_StockIssuedDuringPeriodValueEmployeeStockPurchasePlan-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncreaseDecreaseInReceivables" xlink:label="us-gaap_IncreaseDecreaseInReceivables" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncreaseDecreaseInReceivables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_IncreaseDecreaseInReceivables</link:label>
    <link:label xlink:label="us-gaap_IncreaseDecreaseInReceivables-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Receivables</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInReceivables" xlink:to="us-gaap_IncreaseDecreaseInReceivables-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:label="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Exercise of stock options, shares (in shares)</link:label>
    <link:label xlink:label="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Options outstanding, stock option awards exercised (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:to="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised" xlink:label="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised</link:label>
    <link:label xlink:label="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exercise of stock options</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised" xlink:to="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_AmortizationOfDiscountAndPremiumOnInvestments" xlink:label="bcrx_AmortizationOfDiscountAndPremiumOnInvestments" xlink:type="locator"/>
    <link:label xlink:label="bcrx_AmortizationOfDiscountAndPremiumOnInvestments-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization of premium/discount on investments</link:label>
    <link:label xlink:label="bcrx_AmortizationOfDiscountAndPremiumOnInvestments-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of amortization expense attributable to the discount and premium on investments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_AmortizationOfDiscountAndPremiumOnInvestments" xlink:to="bcrx_AmortizationOfDiscountAndPremiumOnInvestments-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod-label" xlink:type="arc"/>
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    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock option awards granted (in shares)</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Options outstanding, stock option awards granted (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Issuance of common stock, shares (in shares)</link:label>
    <link:label xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Shares, New Issues</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:to="us-gaap_StockIssuedDuringPeriodSharesNewIssues-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:label="us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StockIssuedDuringPeriodValueNewIssues-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Issuance of common stock</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:to="us-gaap_StockIssuedDuringPeriodValueNewIssues-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DeferredTaxAssetsValuationAllowance" xlink:label="us-gaap_DeferredTaxAssetsValuationAllowance" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DeferredTaxAssetsValuationAllowance-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_DeferredTaxAssetsValuationAllowance</link:label>
    <link:label xlink:label="us-gaap_DeferredTaxAssetsValuationAllowance-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Valuation allowance</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsValuationAllowance" xlink:to="us-gaap_DeferredTaxAssetsValuationAllowance-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount" xlink:label="us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount</link:label>
    <link:label xlink:label="us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount" xlink:to="us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_LiabilitiesAndStockholdersEquity-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_LiabilitiesAndStockholdersEquity</link:label>
    <link:label xlink:label="us-gaap_LiabilitiesAndStockholdersEquity-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total liabilities and stockholders&#8217; equity</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_LiabilitiesAndStockholdersEquity-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ValuationAllowanceByDeferredTaxAssetAxis" xlink:label="us-gaap_ValuationAllowanceByDeferredTaxAssetAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ValuationAllowanceByDeferredTaxAssetAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Valuation Allowance by Deferred Tax Asset [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ValuationAllowanceByDeferredTaxAssetAxis" xlink:to="us-gaap_ValuationAllowanceByDeferredTaxAssetAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated deficit</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsAccumulatedDeficit" xlink:to="us-gaap_RetainedEarningsAccumulatedDeficit-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DeferredTaxAssetDomain" xlink:label="us-gaap_DeferredTaxAssetDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DeferredTaxAssetDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Asset [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetDomain" xlink:to="us-gaap_DeferredTaxAssetDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SalesRevenueGoodsNet" xlink:label="us-gaap_SalesRevenueGoodsNet" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SalesRevenueGoodsNet-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Product sales, net</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SalesRevenueGoodsNet" xlink:to="us-gaap_SalesRevenueGoodsNet-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated other comprehensive loss</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:to="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncreaseDecreaseInInventories" xlink:label="us-gaap_IncreaseDecreaseInInventories" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncreaseDecreaseInInventories-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_IncreaseDecreaseInInventories</link:label>
    <link:label xlink:label="us-gaap_IncreaseDecreaseInInventories-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Inventory</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInInventories" xlink:to="us-gaap_IncreaseDecreaseInInventories-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DeferredIncomeTaxLiabilities" xlink:label="us-gaap_DeferredIncomeTaxLiabilities" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DeferredIncomeTaxLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_DeferredIncomeTaxLiabilities</link:label>
    <link:label xlink:label="us-gaap_DeferredIncomeTaxLiabilities-label" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Total deferred tax liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredIncomeTaxLiabilities" xlink:to="us-gaap_DeferredIncomeTaxLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd#currency_JPY" xlink:label="currency_JPY" xlink:type="locator"/>
    <link:label xlink:label="currency_JPY-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Japan, Yen</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="currency_JPY" xlink:to="currency_JPY-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DeferredTaxAssetsGross" xlink:label="us-gaap_DeferredTaxAssetsGross" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DeferredTaxAssetsGross-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_DeferredTaxAssetsGross</link:label>
    <link:label xlink:label="us-gaap_DeferredTaxAssetsGross-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total deferred tax assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsGross" xlink:to="us-gaap_DeferredTaxAssetsGross-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DeferredTaxAssetsLiabilitiesNet" xlink:label="us-gaap_DeferredTaxAssetsLiabilitiesNet" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DeferredTaxAssetsLiabilitiesNet-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_DeferredTaxAssetsLiabilitiesNet</link:label>
    <link:label xlink:label="us-gaap_DeferredTaxAssetsLiabilitiesNet-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net deferred tax assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsLiabilitiesNet" xlink:to="us-gaap_DeferredTaxAssetsLiabilitiesNet-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DeferredTaxAssetsOther" xlink:label="us-gaap_DeferredTaxAssetsOther" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DeferredTaxAssetsOther-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsOther" xlink:to="us-gaap_DeferredTaxAssetsOther-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DeferredTaxAssetsDeferredIncome" xlink:label="us-gaap_DeferredTaxAssetsDeferredIncome" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DeferredTaxAssetsDeferredIncome-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_DeferredTaxAssetsDeferredIncome</link:label>
    <link:label xlink:label="us-gaap_DeferredTaxAssetsDeferredIncome-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred revenue</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsDeferredIncome" xlink:to="us-gaap_DeferredTaxAssetsDeferredIncome-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PrepaidExpenseAndOtherAssetsCurrent" xlink:label="us-gaap_PrepaidExpenseAndOtherAssetsCurrent" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_PrepaidExpenseAndOtherAssetsCurrent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Prepaid expenses and other current assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PrepaidExpenseAndOtherAssetsCurrent" xlink:to="us-gaap_PrepaidExpenseAndOtherAssetsCurrent-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DisclosureTextBlockAbstract" xlink:label="us-gaap_DisclosureTextBlockAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DisclosureTextBlockAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_DisclosureTextBlockAbstract</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisclosureTextBlockAbstract" xlink:to="us-gaap_DisclosureTextBlockAbstract-label" xlink:type="arc"/>
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    <link:label xlink:label="us-gaap_LesseeLeasesPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessee, Leases [Policy Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LesseeLeasesPolicyTextBlock" xlink:to="us-gaap_LesseeLeasesPolicyTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RevenuesAbstract" xlink:label="us-gaap_RevenuesAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_RevenuesAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenues</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenuesAbstract" xlink:to="us-gaap_RevenuesAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost" xlink:label="us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock-based compensation</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost" xlink:to="us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_EarningsPerSharePolicyTextBlock" xlink:label="us-gaap_EarningsPerSharePolicyTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_EarningsPerSharePolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerSharePolicyTextBlock" xlink:to="us-gaap_EarningsPerSharePolicyTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_DeferredCollaborationExpenseAssets" xlink:label="bcrx_DeferredCollaborationExpenseAssets" xlink:type="locator"/>
    <link:label xlink:label="bcrx_DeferredCollaborationExpenseAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_DeferredCollaborationExpenseAssets</link:label>
    <link:label xlink:label="bcrx_DeferredCollaborationExpenseAssets-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred collaboration expense</link:label>
    <link:label xlink:label="bcrx_DeferredCollaborationExpenseAssets-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents deferred collaboration expense.</link:label>
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    <link:label xlink:label="us-gaap_ComprehensiveIncomePolicyPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive Income, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ComprehensiveIncomePolicyPolicyTextBlock" xlink:to="us-gaap_ComprehensiveIncomePolicyPolicyTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeTaxPolicyTextBlock" xlink:label="us-gaap_IncomeTaxPolicyTextBlock" xlink:type="locator"/>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxPolicyTextBlock" xlink:to="us-gaap_IncomeTaxPolicyTextBlock-label" xlink:type="arc"/>
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    <link:label xlink:label="currency_AllCurrenciesDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">All Currencies [Domain]</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:label="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Changes in operating assets and liabilities:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract-label" xlink:type="arc"/>
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    <link:label xlink:label="us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsResearch-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Research and development credits</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsResearch" xlink:to="us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsResearch-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_DeferredTaxAssetsAndLiabilitiesRevaluatedMember" xlink:label="bcrx_DeferredTaxAssetsAndLiabilitiesRevaluatedMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_DeferredTaxAssetsAndLiabilitiesRevaluatedMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Assets and Liabilities Revaluated [Member]</link:label>
    <link:label xlink:label="bcrx_DeferredTaxAssetsAndLiabilitiesRevaluatedMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the information pertaining to the revaluation of deferred tax assets and liabilities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_DeferredTaxAssetsAndLiabilitiesRevaluatedMember" xlink:to="bcrx_DeferredTaxAssetsAndLiabilitiesRevaluatedMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:label="us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_PropertyPlantAndEquipmentTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment [Table Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:to="us-gaap_PropertyPlantAndEquipmentTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DeferredTaxAssetsOperatingLossCarryforwards" xlink:label="us-gaap_DeferredTaxAssetsOperatingLossCarryforwards" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DeferredTaxAssetsOperatingLossCarryforwards-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_DeferredTaxAssetsOperatingLossCarryforwards</link:label>
    <link:label xlink:label="us-gaap_DeferredTaxAssetsOperatingLossCarryforwards-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred Tax Assets, Operating Loss Carryforwards</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsOperatingLossCarryforwards" xlink:to="us-gaap_DeferredTaxAssetsOperatingLossCarryforwards-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DeferredTaxAssetsOperatingLossCarryforwardsDomestic" xlink:label="us-gaap_DeferredTaxAssetsOperatingLossCarryforwardsDomestic" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DeferredTaxAssetsOperatingLossCarryforwardsDomestic-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net federal and state operating losses</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsOperatingLossCarryforwardsDomestic" xlink:to="us-gaap_DeferredTaxAssetsOperatingLossCarryforwardsDomestic-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ResearchAndDevelopmentExpensePolicy" xlink:label="us-gaap_ResearchAndDevelopmentExpensePolicy" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ResearchAndDevelopmentExpensePolicy-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Research and Development Expense, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ResearchAndDevelopmentExpensePolicy" xlink:to="us-gaap_ResearchAndDevelopmentExpensePolicy-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" xlink:label="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment Disclosure [Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" xlink:to="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_IncomeTaxRateReconciliationAdoptionOfAccountingStandardsUpdateAmount" xlink:label="bcrx_IncomeTaxRateReconciliationAdoptionOfAccountingStandardsUpdateAmount" xlink:type="locator"/>
    <link:label xlink:label="bcrx_IncomeTaxRateReconciliationAdoptionOfAccountingStandardsUpdateAmount-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_IncomeTaxRateReconciliationAdoptionOfAccountingStandardsUpdateAmount</link:label>
    <link:label xlink:label="bcrx_IncomeTaxRateReconciliationAdoptionOfAccountingStandardsUpdateAmount-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Effect of ASU 2016-09</link:label>
    <link:label xlink:label="bcrx_IncomeTaxRateReconciliationAdoptionOfAccountingStandardsUpdateAmount-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to the effect from the adoption of an accounting standards update.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_IncomeTaxRateReconciliationAdoptionOfAccountingStandardsUpdateAmount" xlink:to="bcrx_IncomeTaxRateReconciliationAdoptionOfAccountingStandardsUpdateAmount-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DeferredRevenueAdditions" xlink:label="us-gaap_DeferredRevenueAdditions" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DeferredRevenueAdditions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_DeferredRevenueAdditions</link:label>
    <link:label xlink:label="us-gaap_DeferredRevenueAdditions-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred Revenue, Additions</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenueAdditions" xlink:to="us-gaap_DeferredRevenueAdditions-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DeferredTaxAssetsGrossAbstract" xlink:label="us-gaap_DeferredTaxAssetsGrossAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DeferredTaxAssetsGrossAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tax assets:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsGrossAbstract" xlink:to="us-gaap_DeferredTaxAssetsGrossAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_CollaborativeAndOtherResearchAndDevelopment" xlink:label="bcrx_CollaborativeAndOtherResearchAndDevelopment" xlink:type="locator"/>
    <link:label xlink:label="bcrx_CollaborativeAndOtherResearchAndDevelopment-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Collaborative and other research and development</link:label>
    <link:label xlink:label="bcrx_CollaborativeAndOtherResearchAndDevelopment-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Collaborative and other research and development during the period.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_CollaborativeAndOtherResearchAndDevelopment" xlink:to="bcrx_CollaborativeAndOtherResearchAndDevelopment-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:label="us-gaap_OperatingIncomeLoss" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_OperatingIncomeLoss-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_OperatingIncomeLoss</link:label>
    <link:label xlink:label="us-gaap_OperatingIncomeLoss-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Loss from operations</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingIncomeLoss" xlink:to="us-gaap_OperatingIncomeLoss-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingLeasesRentExpenseNet" xlink:label="us-gaap_OperatingLeasesRentExpenseNet" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_OperatingLeasesRentExpenseNet-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_OperatingLeasesRentExpenseNet</link:label>
    <link:label xlink:label="us-gaap_OperatingLeasesRentExpenseNet-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Leases, Rent Expense, Net</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesRentExpenseNet" xlink:to="us-gaap_OperatingLeasesRentExpenseNet-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:label="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:to="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag" xlink:type="locator"/>
    <link:label xlink:label="dei_AmendmentFlag-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amendment Flag</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DeferredRevenueArrangementTypeDomain" xlink:label="us-gaap_DeferredRevenueArrangementTypeDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DeferredRevenueArrangementTypeDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Revenue [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenueArrangementTypeDomain" xlink:to="us-gaap_DeferredRevenueArrangementTypeDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DeferredRevenueArrangementTypeAxis" xlink:label="us-gaap_DeferredRevenueArrangementTypeAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DeferredRevenueArrangementTypeAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Revenue Arrangement Type [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenueArrangementTypeAxis" xlink:to="us-gaap_DeferredRevenueArrangementTypeAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CommonStockValue" xlink:label="us-gaap_CommonStockValue" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CommonStockValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common stock, $0.01 par value; shares authorized &#8212; 200,000; shares issued and outstanding &#8212; 98,411 in 2017 and 73,782 in 2016</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockValue" xlink:to="us-gaap_CommonStockValue-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:label="us-gaap_CommonStockSharesAuthorized" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CommonStockSharesAuthorized-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common stock, shares authorized (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesAuthorized" xlink:to="us-gaap_CommonStockSharesAuthorized-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="us-gaap_CommonStockSharesIssued" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CommonStockSharesIssued-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common stock, shares issued (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesIssued" xlink:to="us-gaap_CommonStockSharesIssued-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_RevenueRecognitionRoyaltyAndMilestoneRevenueRecognized" xlink:label="bcrx_RevenueRecognitionRoyaltyAndMilestoneRevenueRecognized" xlink:type="locator"/>
    <link:label xlink:label="bcrx_RevenueRecognitionRoyaltyAndMilestoneRevenueRecognized-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_RevenueRecognitionRoyaltyAndMilestoneRevenueRecognized</link:label>
    <link:label xlink:label="bcrx_RevenueRecognitionRoyaltyAndMilestoneRevenueRecognized-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenue Recognition Royalty and Milestone Revenue Recognized</link:label>
    <link:label xlink:label="bcrx_RevenueRecognitionRoyaltyAndMilestoneRevenueRecognized-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Revenue recognition royalty and milestone revenue recognized.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_RevenueRecognitionRoyaltyAndMilestoneRevenueRecognized" xlink:to="bcrx_RevenueRecognitionRoyaltyAndMilestoneRevenueRecognized-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OtherAssetsNoncurrent" xlink:label="us-gaap_OtherAssetsNoncurrent" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_OtherAssetsNoncurrent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAssetsNoncurrent" xlink:to="us-gaap_OtherAssetsNoncurrent-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CommonStockParOrStatedValuePerShare-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common stock, par value (in dollars per share)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockParOrStatedValuePerShare" xlink:to="us-gaap_CommonStockParOrStatedValuePerShare-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="us-gaap_ShareBasedCompensation" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensation-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock-based compensation expense</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensation" xlink:to="us-gaap_ShareBasedCompensation-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_AverageMaturityPeriodOfHighQualityMarketableSecurities" xlink:label="bcrx_AverageMaturityPeriodOfHighQualityMarketableSecurities" xlink:type="locator"/>
    <link:label xlink:label="bcrx_AverageMaturityPeriodOfHighQualityMarketableSecurities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_AverageMaturityPeriodOfHighQualityMarketableSecurities</link:label>
    <link:label xlink:label="bcrx_AverageMaturityPeriodOfHighQualityMarketableSecurities-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Average Maturity Period of High Quality Marketable Securities</link:label>
    <link:label xlink:label="bcrx_AverageMaturityPeriodOfHighQualityMarketableSecurities-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Average maturity period of high quality marketable securities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_AverageMaturityPeriodOfHighQualityMarketableSecurities" xlink:to="bcrx_AverageMaturityPeriodOfHighQualityMarketableSecurities-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_MaturityperiodOfShortTermInvestment" xlink:label="bcrx_MaturityperiodOfShortTermInvestment" xlink:type="locator"/>
    <link:label xlink:label="bcrx_MaturityperiodOfShortTermInvestment-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_MaturityperiodOfShortTermInvestment</link:label>
    <link:label xlink:label="bcrx_MaturityperiodOfShortTermInvestment-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maturity Period of Short Term Investment</link:label>
    <link:label xlink:label="bcrx_MaturityperiodOfShortTermInvestment-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Maturity period of short term investment.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_MaturityperiodOfShortTermInvestment" xlink:to="bcrx_MaturityperiodOfShortTermInvestment-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate" xlink:type="locator"/>
    <link:label xlink:label="dei_CurrentFiscalYearEndDate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current Fiscal Year End Date</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_DeferredCollaborationExpenseChangesInOperatingAssetsAndLiabilities" xlink:label="bcrx_DeferredCollaborationExpenseChangesInOperatingAssetsAndLiabilities" xlink:type="locator"/>
    <link:label xlink:label="bcrx_DeferredCollaborationExpenseChangesInOperatingAssetsAndLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_DeferredCollaborationExpenseChangesInOperatingAssetsAndLiabilities</link:label>
    <link:label xlink:label="bcrx_DeferredCollaborationExpenseChangesInOperatingAssetsAndLiabilities-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Deferred collaboration expense</link:label>
    <link:label xlink:label="bcrx_DeferredCollaborationExpenseChangesInOperatingAssetsAndLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents deferred collaboration expense.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_DeferredCollaborationExpenseChangesInOperatingAssetsAndLiabilities" xlink:to="bcrx_DeferredCollaborationExpenseChangesInOperatingAssetsAndLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DeferredTaxLiabilitiesUnrealizedCurrencyTransactionGains" xlink:label="us-gaap_DeferredTaxLiabilitiesUnrealizedCurrencyTransactionGains" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DeferredTaxLiabilitiesUnrealizedCurrencyTransactionGains-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_DeferredTaxLiabilitiesUnrealizedCurrencyTransactionGains</link:label>
    <link:label xlink:label="us-gaap_DeferredTaxLiabilitiesUnrealizedCurrencyTransactionGains-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Foreign currency derivative</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxLiabilitiesUnrealizedCurrencyTransactionGains" xlink:to="us-gaap_DeferredTaxLiabilitiesUnrealizedCurrencyTransactionGains-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_CollaborativeAgreementContractValue" xlink:label="bcrx_CollaborativeAgreementContractValue" xlink:type="locator"/>
    <link:label xlink:label="bcrx_CollaborativeAgreementContractValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_CollaborativeAgreementContractValue</link:label>
    <link:label xlink:label="bcrx_CollaborativeAgreementContractValue-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Collaborative Agreement Contract Value</link:label>
    <link:label xlink:label="bcrx_CollaborativeAgreementContractValue-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents collaborative agreement contract value.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_CollaborativeAgreementContractValue" xlink:to="bcrx_CollaborativeAgreementContractValue-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="dei_DocumentFiscalPeriodFocus" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentFiscalPeriodFocus-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Period Focus</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalPeriodFocus" xlink:to="dei_DocumentFiscalPeriodFocus-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_SupplementalNDAForRaAPIVABMember" xlink:label="bcrx_SupplementalNDAForRaAPIVABMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_SupplementalNDAForRaAPIVABMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Supplemental NDA for RAPIVAB [Member]</link:label>
    <link:label xlink:label="bcrx_SupplementalNDAForRaAPIVABMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information pertaining to the supplemental NDA for RAPIVAB.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_SupplementalNDAForRaAPIVABMember" xlink:to="bcrx_SupplementalNDAForRaAPIVABMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="dei_DocumentFiscalYearFocus" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentFiscalYearFocus-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Year Focus</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DeferredTaxLiabilitiesAbstract" xlink:label="us-gaap_DeferredTaxLiabilitiesAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DeferredTaxLiabilitiesAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tax liabilities:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxLiabilitiesAbstract" xlink:to="us-gaap_DeferredTaxLiabilitiesAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_MundipharmaInternationalHoldingsLimitedMember" xlink:label="bcrx_MundipharmaInternationalHoldingsLimitedMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_MundipharmaInternationalHoldingsLimitedMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mundipharma International Holdings Limited [Member]</link:label>
    <link:label xlink:label="bcrx_MundipharmaInternationalHoldingsLimitedMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information pertaining to Mundipharma International Holdings Limited.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_MundipharmaInternationalHoldingsLimitedMember" xlink:to="bcrx_MundipharmaInternationalHoldingsLimitedMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentPeriodEndDate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Period End Date</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PreferredStockValue" xlink:label="us-gaap_PreferredStockValue" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_PreferredStockValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred stock, $0.001 par value; shares authorized &#8212; 5,000; no shares outstanding</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockValue" xlink:to="us-gaap_PreferredStockValue-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment" xlink:label="us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment</link:label>
    <link:label xlink:label="us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Fixed assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment" xlink:to="us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PreferredStockSharesIssued" xlink:label="us-gaap_PreferredStockSharesIssued" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_PreferredStockSharesIssued-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred stock, shares issued (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesIssued" xlink:to="us-gaap_PreferredStockSharesIssued-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RevenueRecognitionMilestoneMethodRevenueRecognized" xlink:label="us-gaap_RevenueRecognitionMilestoneMethodRevenueRecognized" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_RevenueRecognitionMilestoneMethodRevenueRecognized-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_RevenueRecognitionMilestoneMethodRevenueRecognized</link:label>
    <link:label xlink:label="us-gaap_RevenueRecognitionMilestoneMethodRevenueRecognized-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenue Recognition, Milestone Method, Revenue Recognized</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueRecognitionMilestoneMethodRevenueRecognized" xlink:to="us-gaap_RevenueRecognitionMilestoneMethodRevenueRecognized-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentType" xlink:label="dei_DocumentType" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentType-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Type</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DepreciationDepletionAndAmortization" xlink:label="us-gaap_DepreciationDepletionAndAmortization" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DepreciationDepletionAndAmortization-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation, amortization, and impairment</link:label>
    <link:label xlink:label="us-gaap_DepreciationDepletionAndAmortization-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation, Depletion and Amortization</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DepreciationDepletionAndAmortization" xlink:to="us-gaap_DepreciationDepletionAndAmortization-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PreferredStockSharesAuthorized" xlink:label="us-gaap_PreferredStockSharesAuthorized" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_PreferredStockSharesAuthorized-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred stock, shares authorized (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesAuthorized" xlink:to="us-gaap_PreferredStockSharesAuthorized-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentInformationLineItems" xlink:label="dei_DocumentInformationLineItems" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentInformationLineItems-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Information [Line Items]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentInformationLineItems-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentInformationTable" xlink:label="dei_DocumentInformationTable" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentInformationTable-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Information [Table]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentInformationTable" xlink:to="dei_DocumentInformationTable-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PreferredStockParOrStatedValuePerShare" xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred stock, par value (in dollars per share)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockParOrStatedValuePerShare" xlink:to="us-gaap_PreferredStockParOrStatedValuePerShare-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="us-gaap_AssetsCurrent" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AssetsCurrent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_AssetsCurrent</link:label>
    <link:label xlink:label="us-gaap_AssetsCurrent-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total current assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_AssetsCurrent-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityPublicFloat" xlink:label="dei_EntityPublicFloat" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityPublicFloat-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Public Float</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityPublicFloat" xlink:to="dei_EntityPublicFloat-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_TypeOfArrangementAxis" xlink:label="us-gaap_TypeOfArrangementAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_TypeOfArrangementAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Type of Arrangement and Non-arrangement Transactions [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TypeOfArrangementAxis" xlink:to="us-gaap_TypeOfArrangementAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityFilerCategory" xlink:label="dei_EntityFilerCategory" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityFilerCategory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Filer Category</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFilerCategory" xlink:to="dei_EntityFilerCategory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="dei_EntityCurrentReportingStatus" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityCurrentReportingStatus-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Current Reporting Status</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCurrentReportingStatus" xlink:to="dei_EntityCurrentReportingStatus-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityVoluntaryFilers" xlink:label="dei_EntityVoluntaryFilers" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityVoluntaryFilers-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Voluntary Filers</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityVoluntaryFilers" xlink:to="dei_EntityVoluntaryFilers-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:label="us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ArrangementsAndNonarrangementTransactionsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Arrangements and Non-arrangement Transactions [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:to="us-gaap_ArrangementsAndNonarrangementTransactionsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="dei_EntityWellKnownSeasonedIssuer" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityWellKnownSeasonedIssuer-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Well-known Seasoned Issuer</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityWellKnownSeasonedIssuer" xlink:to="dei_EntityWellKnownSeasonedIssuer-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_USDepartmentOfHealthAndHumanServicesMember" xlink:label="bcrx_USDepartmentOfHealthAndHumanServicesMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_USDepartmentOfHealthAndHumanServicesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">US Department of Health and Human Services [Member]</link:label>
    <link:label xlink:label="bcrx_USDepartmentOfHealthAndHumanServicesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">United States department of health and human services.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_USDepartmentOfHealthAndHumanServicesMember" xlink:to="bcrx_USDepartmentOfHealthAndHumanServicesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_AECOMAndIRLMember" xlink:label="bcrx_AECOMAndIRLMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_AECOMAndIRLMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">AECOM and IRL [Member]</link:label>
    <link:label xlink:label="bcrx_AECOMAndIRLMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">AECOM and IRL</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_AECOMAndIRLMember" xlink:to="bcrx_AECOMAndIRLMember-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_UABMember" xlink:label="bcrx_UABMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_UABMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">UAB [Member]</link:label>
    <link:label xlink:label="bcrx_UABMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">UAB</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_UABMember" xlink:to="bcrx_UABMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability" xlink:label="us-gaap_IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability</link:label>
    <link:label xlink:label="us-gaap_IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability" xlink:to="us-gaap_IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_ProceedsFromAwardsForResearchAndDevelopmentContracts" xlink:label="bcrx_ProceedsFromAwardsForResearchAndDevelopmentContracts" xlink:type="locator"/>
    <link:label xlink:label="bcrx_ProceedsFromAwardsForResearchAndDevelopmentContracts-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_ProceedsFromAwardsForResearchAndDevelopmentContracts</link:label>
    <link:label xlink:label="bcrx_ProceedsFromAwardsForResearchAndDevelopmentContracts-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from awards for Research and Development Contracts</link:label>
    <link:label xlink:label="bcrx_ProceedsFromAwardsForResearchAndDevelopmentContracts-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents proceeds from awards for research and development contracts.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_ProceedsFromAwardsForResearchAndDevelopmentContracts" xlink:to="bcrx_ProceedsFromAwardsForResearchAndDevelopmentContracts-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments to reconcile net loss to net cash used in operating activities:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityCentralIndexKey-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Central Index Key</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityRegistrantName-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityDomain" xlink:to="dei_EntityDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:label xlink:label="dei_LegalEntityAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Legal Entity [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LegalEntityAxis" xlink:to="dei_LegalEntityAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DeferredCostsCurrent" xlink:label="us-gaap_DeferredCostsCurrent" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DeferredCostsCurrent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred collaboration expense</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredCostsCurrent" xlink:to="us-gaap_DeferredCostsCurrent-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_BaseContractMember" xlink:label="bcrx_BaseContractMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_BaseContractMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Base Contract [Member]</link:label>
    <link:label xlink:label="bcrx_BaseContractMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The base contract of ASPR/BARDA to support BCX4430 drug manufacturing.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_BaseContractMember" xlink:to="bcrx_BaseContractMember-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_AdditionalDevelopmentOptionsMember" xlink:label="bcrx_AdditionalDevelopmentOptionsMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_AdditionalDevelopmentOptionsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional Development Options [Member]</link:label>
    <link:label xlink:label="bcrx_AdditionalDevelopmentOptionsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The additional development options that can be exercised by the Government.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_AdditionalDevelopmentOptionsMember" xlink:to="bcrx_AdditionalDevelopmentOptionsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_ASPRBARDAContractMember" xlink:label="bcrx_ASPRBARDAContractMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_ASPRBARDAContractMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ASPRBARDA Contract [Member]</link:label>
    <link:label xlink:label="bcrx_ASPRBARDAContractMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The potential value of the ASPR/BARDA Contract.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_ASPRBARDAContractMember" xlink:to="bcrx_ASPRBARDAContractMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="dei_EntityCommonStockSharesOutstanding" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityCommonStockSharesOutstanding-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Common Stock, Shares Outstanding (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCommonStockSharesOutstanding" xlink:to="dei_EntityCommonStockSharesOutstanding-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_GreenCrossCorporationMember" xlink:label="bcrx_GreenCrossCorporationMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_GreenCrossCorporationMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Green Cross Corporation [Member]</link:label>
    <link:label xlink:label="bcrx_GreenCrossCorporationMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents Green Cross Corporation.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_GreenCrossCorporationMember" xlink:to="bcrx_GreenCrossCorporationMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AdditionalPaidInCapital" xlink:label="us-gaap_AdditionalPaidInCapital" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AdditionalPaidInCapital-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional paid-in capital</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapital" xlink:to="us-gaap_AdditionalPaidInCapital-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_MilestonePaymentMinimum" xlink:label="bcrx_MilestonePaymentMinimum" xlink:type="locator"/>
    <link:label xlink:label="bcrx_MilestonePaymentMinimum-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_MilestonePaymentMinimum</link:label>
    <link:label xlink:label="bcrx_MilestonePaymentMinimum-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Milestone Payment Minimum</link:label>
    <link:label xlink:label="bcrx_MilestonePaymentMinimum-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents milestone payment minimum.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_MilestonePaymentMinimum" xlink:to="bcrx_MilestonePaymentMinimum-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_TransactionCosts" xlink:label="bcrx_TransactionCosts" xlink:type="locator"/>
    <link:label xlink:label="bcrx_TransactionCosts-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_TransactionCosts</link:label>
    <link:label xlink:label="bcrx_TransactionCosts-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Transaction Costs</link:label>
    <link:label xlink:label="bcrx_TransactionCosts-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents transaction costs associated with royalty monetization.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_TransactionCosts" xlink:to="bcrx_TransactionCosts-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_InterestReserve" xlink:label="bcrx_InterestReserve" xlink:type="locator"/>
    <link:label xlink:label="bcrx_InterestReserve-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_InterestReserve</link:label>
    <link:label xlink:label="bcrx_InterestReserve-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest Reserve</link:label>
    <link:label xlink:label="bcrx_InterestReserve-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents interest reserve established as part of the royalty monetization.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_InterestReserve" xlink:to="bcrx_InterestReserve-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_MilestonePaymentMaximum" xlink:label="bcrx_MilestonePaymentMaximum" xlink:type="locator"/>
    <link:label xlink:label="bcrx_MilestonePaymentMaximum-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_MilestonePaymentMaximum</link:label>
    <link:label xlink:label="bcrx_MilestonePaymentMaximum-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Milestone Payment Maximum</link:label>
    <link:label xlink:label="bcrx_MilestonePaymentMaximum-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents milestone payment maximum.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_MilestonePaymentMaximum" xlink:to="bcrx_MilestonePaymentMaximum-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_RequiredForeignCurrencyHedgePerDollar" xlink:label="bcrx_RequiredForeignCurrencyHedgePerDollar" xlink:type="locator"/>
    <link:label xlink:label="bcrx_RequiredForeignCurrencyHedgePerDollar-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_RequiredForeignCurrencyHedgePerDollar</link:label>
    <link:label xlink:label="bcrx_RequiredForeignCurrencyHedgePerDollar-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Required Foreign Currency Hedge Per Dollar</link:label>
    <link:label xlink:label="bcrx_RequiredForeignCurrencyHedgePerDollar-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The Company is required to maintain a foreign currency hedge per dollar under the agreements governing the PhaRMA Notes.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_RequiredForeignCurrencyHedgePerDollar" xlink:to="bcrx_RequiredForeignCurrencyHedgePerDollar-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_RoyaltyMonetizationMember" xlink:label="bcrx_RoyaltyMonetizationMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_RoyaltyMonetizationMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Royalty Monetization [Member]</link:label>
    <link:label xlink:label="bcrx_RoyaltyMonetizationMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the royalty monetization transaction.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_RoyaltyMonetizationMember" xlink:to="bcrx_RoyaltyMonetizationMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InventoryNet" xlink:label="us-gaap_InventoryNet" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_InventoryNet-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Inventory</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryNet" xlink:to="us-gaap_InventoryNet-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="us-gaap_StockholdersEquityAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StockholdersEquityAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholders&#8217; equity:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_StockholdersEquityAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RevenueRecognitionPolicyTextBlock" xlink:label="us-gaap_RevenueRecognitionPolicyTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_RevenueRecognitionPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue Recognition, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueRecognitionPolicyTextBlock" xlink:to="us-gaap_RevenueRecognitionPolicyTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol" xlink:type="locator"/>
    <link:label xlink:label="dei_TradingSymbol-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Symbol</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InterestAndOtherIncome" xlink:label="us-gaap_InterestAndOtherIncome" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_InterestAndOtherIncome-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest and other income</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestAndOtherIncome" xlink:to="us-gaap_InterestAndOtherIncome-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="us-gaap_StockholdersEquity" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StockholdersEquity-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_StockholdersEquity</link:label>
    <link:label xlink:label="us-gaap_StockholdersEquity-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total stockholders&#8217; equity</link:label>
    <link:label xlink:label="us-gaap_StockholdersEquity-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance</link:label>
    <link:label xlink:label="us-gaap_StockholdersEquity-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IntangibleAssetsFiniteLivedPolicy" xlink:label="us-gaap_IntangibleAssetsFiniteLivedPolicy" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IntangibleAssetsFiniteLivedPolicy-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Assets, Finite-Lived, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IntangibleAssetsFiniteLivedPolicy" xlink:to="us-gaap_IntangibleAssetsFiniteLivedPolicy-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_CurrencyHedgeAgreementMember" xlink:label="bcrx_CurrencyHedgeAgreementMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_CurrencyHedgeAgreementMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Currency Hedge Agreement [Member]</link:label>
    <link:label xlink:label="bcrx_CurrencyHedgeAgreementMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the Currency Hedge Agreement to hedge certain risks associated with changes in the value of the Japanese yen relative to the U.S. dollar.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_CurrencyHedgeAgreementMember" xlink:to="bcrx_CurrencyHedgeAgreementMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CertificatesOfDepositMember" xlink:label="us-gaap_CertificatesOfDepositMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CertificatesOfDepositMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Certificates of Deposit [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CertificatesOfDepositMember" xlink:to="us-gaap_CertificatesOfDepositMember-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_MaximumAggregateOfferingPrice" xlink:label="bcrx_MaximumAggregateOfferingPrice" xlink:type="locator"/>
    <link:label xlink:label="bcrx_MaximumAggregateOfferingPrice-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_MaximumAggregateOfferingPrice</link:label>
    <link:label xlink:label="bcrx_MaximumAggregateOfferingPrice-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum Aggregate Offering Price</link:label>
    <link:label xlink:label="bcrx_MaximumAggregateOfferingPrice-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the maximum aggregate offering price of common stock, preferred stock, depository shares, stock purchase contracts, warrants and units.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_MaximumAggregateOfferingPrice" xlink:to="bcrx_MaximumAggregateOfferingPrice-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_AnnualLicenseFeeMinimum" xlink:label="bcrx_AnnualLicenseFeeMinimum" xlink:type="locator"/>
    <link:label xlink:label="bcrx_AnnualLicenseFeeMinimum-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_AnnualLicenseFeeMinimum</link:label>
    <link:label xlink:label="bcrx_AnnualLicenseFeeMinimum-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual License Fee Minimum</link:label>
    <link:label xlink:label="bcrx_AnnualLicenseFeeMinimum-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represent minimum annual license fee.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_AnnualLicenseFeeMinimum" xlink:to="bcrx_AnnualLicenseFeeMinimum-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_USGovernmentAgenciesDebtSecuritiesMember" xlink:label="us-gaap_USGovernmentAgenciesDebtSecuritiesMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_USGovernmentAgenciesDebtSecuritiesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">US Government Agencies Debt Securities [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_USGovernmentAgenciesDebtSecuritiesMember" xlink:to="us-gaap_USGovernmentAgenciesDebtSecuritiesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromLicenseFeesReceived" xlink:label="us-gaap_ProceedsFromLicenseFeesReceived" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ProceedsFromLicenseFeesReceived-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ProceedsFromLicenseFeesReceived</link:label>
    <link:label xlink:label="us-gaap_ProceedsFromLicenseFeesReceived-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from License Fees Received</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromLicenseFeesReceived" xlink:to="us-gaap_ProceedsFromLicenseFeesReceived-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_AnnualLicenseFeeMaximum" xlink:label="bcrx_AnnualLicenseFeeMaximum" xlink:type="locator"/>
    <link:label xlink:label="bcrx_AnnualLicenseFeeMaximum-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_AnnualLicenseFeeMaximum</link:label>
    <link:label xlink:label="bcrx_AnnualLicenseFeeMaximum-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual License Fee Maximum</link:label>
    <link:label xlink:label="bcrx_AnnualLicenseFeeMaximum-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents annual maximum license fee.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_AnnualLicenseFeeMaximum" xlink:to="bcrx_AnnualLicenseFeeMaximum-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ReceivablesNetCurrent" xlink:label="us-gaap_ReceivablesNetCurrent" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ReceivablesNetCurrent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Receivables</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ReceivablesNetCurrent" xlink:to="us-gaap_ReceivablesNetCurrent-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CostOfGoodsSold" xlink:label="us-gaap_CostOfGoodsSold" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CostOfGoodsSold-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cost of products sold</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostOfGoodsSold" xlink:to="us-gaap_CostOfGoodsSold-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating activities:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_NumberOfStockbasedCompensationPlans" xlink:label="bcrx_NumberOfStockbasedCompensationPlans" xlink:type="locator"/>
    <link:label xlink:label="bcrx_NumberOfStockbasedCompensationPlans-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_NumberOfStockbasedCompensationPlans</link:label>
    <link:label xlink:label="bcrx_NumberOfStockbasedCompensationPlans-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of Stock-based Compensation Plans</link:label>
    <link:label xlink:label="bcrx_NumberOfStockbasedCompensationPlans-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents number of stock based compensation plan.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_NumberOfStockbasedCompensationPlans" xlink:to="bcrx_NumberOfStockbasedCompensationPlans-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:label="us-gaap_AccountsReceivableNetCurrent" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AccountsReceivableNetCurrent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Receivables from collaborations</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsReceivableNetCurrent" xlink:to="us-gaap_AccountsReceivableNetCurrent-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StatementLineItems-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement [Line Items]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementLineItems-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CostsAndExpensesAbstract" xlink:label="us-gaap_CostsAndExpensesAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CostsAndExpensesAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expenses</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostsAndExpensesAbstract" xlink:to="us-gaap_CostsAndExpensesAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_SharebasedCompensationArrangementBySharbasedPaymentAwardAwardsUnvestedPercentage" xlink:label="bcrx_SharebasedCompensationArrangementBySharbasedPaymentAwardAwardsUnvestedPercentage" xlink:type="locator"/>
    <link:label xlink:label="bcrx_SharebasedCompensationArrangementBySharbasedPaymentAwardAwardsUnvestedPercentage-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_SharebasedCompensationArrangementBySharbasedPaymentAwardAwardsUnvestedPercentage</link:label>
    <link:label xlink:label="bcrx_SharebasedCompensationArrangementBySharbasedPaymentAwardAwardsUnvestedPercentage-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Shar-based Payment Award, Awards Unvested, Percentage</link:label>
    <link:label xlink:label="bcrx_SharebasedCompensationArrangementBySharbasedPaymentAwardAwardsUnvestedPercentage-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the percentage of performance awards that remain unvested.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_SharebasedCompensationArrangementBySharbasedPaymentAwardAwardsUnvestedPercentage" xlink:to="bcrx_SharebasedCompensationArrangementBySharbasedPaymentAwardAwardsUnvestedPercentage-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CostsAndExpenses" xlink:label="us-gaap_CostsAndExpenses" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CostsAndExpenses-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_CostsAndExpenses</link:label>
    <link:label xlink:label="us-gaap_CostsAndExpenses-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total operating expenses</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostsAndExpenses" xlink:to="us-gaap_CostsAndExpenses-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued" xlink:label="us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued</link:label>
    <link:label xlink:label="us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued" xlink:to="us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_AdvanceNoticePeriodForTerminationOfAgreement" xlink:label="bcrx_AdvanceNoticePeriodForTerminationOfAgreement" xlink:type="locator"/>
    <link:label xlink:label="bcrx_AdvanceNoticePeriodForTerminationOfAgreement-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_AdvanceNoticePeriodForTerminationOfAgreement</link:label>
    <link:label xlink:label="bcrx_AdvanceNoticePeriodForTerminationOfAgreement-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Advance Notice Period for Termination of Agreement</link:label>
    <link:label xlink:label="bcrx_AdvanceNoticePeriodForTerminationOfAgreement-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents advance notice period for termination of agreement.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_AdvanceNoticePeriodForTerminationOfAgreement" xlink:to="bcrx_AdvanceNoticePeriodForTerminationOfAgreement-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_PercentageOfSalaryToPurchaseCommonStockMaximum" xlink:label="bcrx_PercentageOfSalaryToPurchaseCommonStockMaximum" xlink:type="locator"/>
    <link:label xlink:label="bcrx_PercentageOfSalaryToPurchaseCommonStockMaximum-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_PercentageOfSalaryToPurchaseCommonStockMaximum</link:label>
    <link:label xlink:label="bcrx_PercentageOfSalaryToPurchaseCommonStockMaximum-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of Salary to Purchase Common Stock, Maximum</link:label>
    <link:label xlink:label="bcrx_PercentageOfSalaryToPurchaseCommonStockMaximum-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents percentage of salary to purchase common stock maximum.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_PercentageOfSalaryToPurchaseCommonStockMaximum" xlink:to="bcrx_PercentageOfSalaryToPurchaseCommonStockMaximum-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_PercentageOfCommonStockSharesBeginning" xlink:label="bcrx_PercentageOfCommonStockSharesBeginning" xlink:type="locator"/>
    <link:label xlink:label="bcrx_PercentageOfCommonStockSharesBeginning-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_PercentageOfCommonStockSharesBeginning</link:label>
    <link:label xlink:label="bcrx_PercentageOfCommonStockSharesBeginning-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of Common Stock Shares, Beginning</link:label>
    <link:label xlink:label="bcrx_PercentageOfCommonStockSharesBeginning-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents percentage of common stock shares beginning.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_PercentageOfCommonStockSharesBeginning" xlink:to="bcrx_PercentageOfCommonStockSharesBeginning-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_PercentageOfCommonStockSharesEnding" xlink:label="bcrx_PercentageOfCommonStockSharesEnding" xlink:type="locator"/>
    <link:label xlink:label="bcrx_PercentageOfCommonStockSharesEnding-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_PercentageOfCommonStockSharesEnding</link:label>
    <link:label xlink:label="bcrx_PercentageOfCommonStockSharesEnding-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of Common Stock Shares, Ending</link:label>
    <link:label xlink:label="bcrx_PercentageOfCommonStockSharesEnding-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents percentage of common stock shares ending.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_PercentageOfCommonStockSharesEnding" xlink:to="bcrx_PercentageOfCommonStockSharesEnding-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">AOCI Attributable to Parent [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:to="us-gaap_AccumulatedOtherComprehensiveIncomeMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" xlink:label="us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unrealized (loss) gain on available for sale investments</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" xlink:to="us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLife-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_PropertyPlantAndEquipmentUsefulLife</link:label>
    <link:label xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLife-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment, Useful Life</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:to="us-gaap_PropertyPlantAndEquipmentUsefulLife-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_ShareBasedCompensationArrangementBySharbasedPaymentAwardMaximumNumberOfSharesPerEmployeeAmount" xlink:label="bcrx_ShareBasedCompensationArrangementBySharbasedPaymentAwardMaximumNumberOfSharesPerEmployeeAmount" xlink:type="locator"/>
    <link:label xlink:label="bcrx_ShareBasedCompensationArrangementBySharbasedPaymentAwardMaximumNumberOfSharesPerEmployeeAmount-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_ShareBasedCompensationArrangementBySharbasedPaymentAwardMaximumNumberOfSharesPerEmployeeAmount</link:label>
    <link:label xlink:label="bcrx_ShareBasedCompensationArrangementBySharbasedPaymentAwardMaximumNumberOfSharesPerEmployeeAmount-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Shar-based Compensation Arrangement by Shar-based Payment Award, Maximum Number of Shares Per Employee, Amount</link:label>
    <link:label xlink:label="bcrx_ShareBasedCompensationArrangementBySharbasedPaymentAwardMaximumNumberOfSharesPerEmployeeAmount-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents share-based compensation arrangement by share-based payment award maximum value per employee amount.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_ShareBasedCompensationArrangementBySharbasedPaymentAwardMaximumNumberOfSharesPerEmployeeAmount" xlink:to="bcrx_ShareBasedCompensationArrangementBySharbasedPaymentAwardMaximumNumberOfSharesPerEmployeeAmount-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CollaborativeArrangementDisclosureTextBlock" xlink:label="us-gaap_CollaborativeArrangementDisclosureTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CollaborativeArrangementDisclosureTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Collaborative Arrangement Disclosure [Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CollaborativeArrangementDisclosureTextBlock" xlink:to="us-gaap_CollaborativeArrangementDisclosureTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CollateralAlreadyPostedAggregateFairValue" xlink:label="us-gaap_CollateralAlreadyPostedAggregateFairValue" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CollateralAlreadyPostedAggregateFairValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_CollateralAlreadyPostedAggregateFairValue</link:label>
    <link:label xlink:label="us-gaap_CollateralAlreadyPostedAggregateFairValue-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Collateral Already Posted, Aggregate Fair Value</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CollateralAlreadyPostedAggregateFairValue" xlink:to="us-gaap_CollateralAlreadyPostedAggregateFairValue-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_StockIssuedDuringPeriodValueForModificationOfLicenseAgreement" xlink:label="bcrx_StockIssuedDuringPeriodValueForModificationOfLicenseAgreement" xlink:type="locator"/>
    <link:label xlink:label="bcrx_StockIssuedDuringPeriodValueForModificationOfLicenseAgreement-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_StockIssuedDuringPeriodValueForModificationOfLicenseAgreement</link:label>
    <link:label xlink:label="bcrx_StockIssuedDuringPeriodValueForModificationOfLicenseAgreement-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Value, for Modification of License Agreement</link:label>
    <link:label xlink:label="bcrx_StockIssuedDuringPeriodValueForModificationOfLicenseAgreement-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents stock issued during period value for modification of license agreement.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_StockIssuedDuringPeriodValueForModificationOfLicenseAgreement" xlink:to="bcrx_StockIssuedDuringPeriodValueForModificationOfLicenseAgreement-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AssetsAbstract" xlink:label="us-gaap_AssetsAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AssetsAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ASSETS</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsAbstract" xlink:to="us-gaap_AssetsAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_PaymentsForModificationOfLicenseAgreement" xlink:label="bcrx_PaymentsForModificationOfLicenseAgreement" xlink:type="locator"/>
    <link:label xlink:label="bcrx_PaymentsForModificationOfLicenseAgreement-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_PaymentsForModificationOfLicenseAgreement</link:label>
    <link:label xlink:label="bcrx_PaymentsForModificationOfLicenseAgreement-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Payments for Modification of License Agreement</link:label>
    <link:label xlink:label="bcrx_PaymentsForModificationOfLicenseAgreement-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents payments for modifications of license agreement.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_PaymentsForModificationOfLicenseAgreement" xlink:to="bcrx_PaymentsForModificationOfLicenseAgreement-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AccountingStandardsUpdate201609Member" xlink:label="us-gaap_AccountingStandardsUpdate201609Member" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AccountingStandardsUpdate201609Member-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounting Standards Update 2016-09 [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountingStandardsUpdate201609Member" xlink:to="us-gaap_AccountingStandardsUpdate201609Member-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FurnitureAndFixturesMember" xlink:label="us-gaap_FurnitureAndFixturesMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_FurnitureAndFixturesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Furniture and Fixtures [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FurnitureAndFixturesMember" xlink:to="us-gaap_FurnitureAndFixturesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_PeriodOfAgreement" xlink:label="bcrx_PeriodOfAgreement" xlink:type="locator"/>
    <link:label xlink:label="bcrx_PeriodOfAgreement-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_PeriodOfAgreement</link:label>
    <link:label xlink:label="bcrx_PeriodOfAgreement-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Period of Agreement</link:label>
    <link:label xlink:label="bcrx_PeriodOfAgreement-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents period of agreement.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_PeriodOfAgreement" xlink:to="bcrx_PeriodOfAgreement-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_NetCashProvidedByUsedInFinancingActivities</link:label>
    <link:label xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by financing activities:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_RenewablePeriodOfAgreement" xlink:label="bcrx_RenewablePeriodOfAgreement" xlink:type="locator"/>
    <link:label xlink:label="bcrx_RenewablePeriodOfAgreement-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_RenewablePeriodOfAgreement</link:label>
    <link:label xlink:label="bcrx_RenewablePeriodOfAgreement-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Renewable Period of Agreement</link:label>
    <link:label xlink:label="bcrx_RenewablePeriodOfAgreement-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents renewable period of agreement.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_RenewablePeriodOfAgreement" xlink:to="bcrx_RenewablePeriodOfAgreement-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_IncentivePlanMember" xlink:label="bcrx_IncentivePlanMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_IncentivePlanMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Incentive Plan [Member]</link:label>
    <link:label xlink:label="bcrx_IncentivePlanMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents Incentive Plan.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_IncentivePlanMember" xlink:to="bcrx_IncentivePlanMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_NetCashProvidedByUsedInInvestingActivities</link:label>
    <link:label xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash (used in) provided by investing activities:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivities-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_EmployeeStockPurchasePlanMember" xlink:label="bcrx_EmployeeStockPurchasePlanMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_EmployeeStockPurchasePlanMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Employee Stock Purchase Plan [Member]</link:label>
    <link:label xlink:label="bcrx_EmployeeStockPurchasePlanMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Employee stock purchase plan, (ESPP).</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_EmployeeStockPurchasePlanMember" xlink:to="bcrx_EmployeeStockPurchasePlanMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_NetCashProvidedByUsedInOperatingActivities</link:label>
    <link:label xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash used in operating activities:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LeaseholdImprovementsMember" xlink:label="us-gaap_LeaseholdImprovementsMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_LeaseholdImprovementsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Leasehold Improvements [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeaseholdImprovementsMember" xlink:to="us-gaap_LeaseholdImprovementsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</link:label>
    <link:label xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Increase (decrease) in cash and cash equivalents</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_RoyaltyMonetizationTextBlock" xlink:label="bcrx_RoyaltyMonetizationTextBlock" xlink:type="locator"/>
    <link:label xlink:label="bcrx_RoyaltyMonetizationTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Royalty Monetization [Text Block]</link:label>
    <link:label xlink:label="bcrx_RoyaltyMonetizationTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Royalty monetization.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_RoyaltyMonetizationTextBlock" xlink:to="bcrx_RoyaltyMonetizationTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_StockOptionsAndRestrictedStockMember" xlink:label="bcrx_StockOptionsAndRestrictedStockMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_StockOptionsAndRestrictedStockMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Options and Restricted Stock [Member]</link:label>
    <link:label xlink:label="bcrx_StockOptionsAndRestrictedStockMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents stock options and restricted stock.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_StockOptionsAndRestrictedStockMember" xlink:to="bcrx_StockOptionsAndRestrictedStockMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_BuildingMember" xlink:label="us-gaap_BuildingMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_BuildingMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Building [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BuildingMember" xlink:to="us-gaap_BuildingMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:label="us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_PropertyPlantAndEquipmentTypeDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment, Type [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:to="us-gaap_PropertyPlantAndEquipmentTypeDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:label="us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_PropertyPlantAndEquipmentByTypeAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment, Type [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:to="us-gaap_PropertyPlantAndEquipmentByTypeAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:label="us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_OtherComprehensiveIncomeLossNetOfTax-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other comprehensive income (loss)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:to="us-gaap_OtherComprehensiveIncomeLossNetOfTax-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax" xlink:label="us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax</link:label>
    <link:label xlink:label="us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax" xlink:to="us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_NonEmployeeDirectorsMember" xlink:label="bcrx_NonEmployeeDirectorsMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_NonEmployeeDirectorsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-employee Directors [Member]</link:label>
    <link:label xlink:label="bcrx_NonEmployeeDirectorsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents non-employee directors of the company.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_NonEmployeeDirectorsMember" xlink:to="bcrx_NonEmployeeDirectorsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" xlink:label="us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_PropertyPlantAndEquipmentPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" xlink:to="us-gaap_PropertyPlantAndEquipmentPolicyTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsForfeituresInPeriodAwardsAvailable" xlink:label="bcrx_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsForfeituresInPeriodAwardsAvailable" xlink:type="locator"/>
    <link:label xlink:label="bcrx_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsForfeituresInPeriodAwardsAvailable-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Awards available, stock option awards cancelled (in shares)</link:label>
    <link:label xlink:label="bcrx_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsForfeituresInPeriodAwardsAvailable-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Share based compensation arrangement by share based payment award options forfeitures in period awards available.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsForfeituresInPeriodAwardsAvailable" xlink:to="bcrx_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsForfeituresInPeriodAwardsAvailable-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InventoryPolicyTextBlock" xlink:label="us-gaap_InventoryPolicyTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_InventoryPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Inventory, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryPolicyTextBlock" xlink:to="us-gaap_InventoryPolicyTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_OperatingLeasesFutureMinimumPaymentsDue</link:label>
    <link:label xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDue-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Leases, Future Minimum Payments Due</link:label>
    <link:label xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDue-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total minimum payments</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDue-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter</link:label>
    <link:label xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Thereafter</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_AvailableForSaleSecuritiesDebtMaturitiesMaturingAfterTwoYears" xlink:label="bcrx_AvailableForSaleSecuritiesDebtMaturitiesMaturingAfterTwoYears" xlink:type="locator"/>
    <link:label xlink:label="bcrx_AvailableForSaleSecuritiesDebtMaturitiesMaturingAfterTwoYears-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maturing after two years</link:label>
    <link:label xlink:label="bcrx_AvailableForSaleSecuritiesDebtMaturitiesMaturingAfterTwoYears-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents debt maturities after two years.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_AvailableForSaleSecuritiesDebtMaturitiesMaturingAfterTwoYears" xlink:to="bcrx_AvailableForSaleSecuritiesDebtMaturitiesMaturingAfterTwoYears-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="us-gaap_BusinessAcquisitionAcquireeDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_BusinessAcquisitionAcquireeDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Acquisition, Acquiree [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionAcquireeDomain" xlink:to="us-gaap_BusinessAcquisitionAcquireeDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="us-gaap_BusinessAcquisitionAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_BusinessAcquisitionAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Acquisition [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionAxis" xlink:to="us-gaap_BusinessAcquisitionAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears</link:label>
    <link:label xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2021</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears</link:label>
    <link:label xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2022</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears</link:label>
    <link:label xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2019</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ForeignExchangeContractMember" xlink:label="us-gaap_ForeignExchangeContractMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ForeignExchangeContractMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignExchangeContractMember" xlink:to="us-gaap_ForeignExchangeContractMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_TypeOfAdoptionMember" xlink:label="us-gaap_TypeOfAdoptionMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_TypeOfAdoptionMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Type of Adoption [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TypeOfAdoptionMember" xlink:to="us-gaap_TypeOfAdoptionMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AdjustmentsForNewAccountingPronouncementsAxis" xlink:label="us-gaap_AdjustmentsForNewAccountingPronouncementsAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AdjustmentsForNewAccountingPronouncementsAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for New Accounting Pronouncements [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsForNewAccountingPronouncementsAxis" xlink:to="us-gaap_AdjustmentsForNewAccountingPronouncementsAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears</link:label>
    <link:label xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2020</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DeferredRevenue" xlink:label="us-gaap_DeferredRevenue" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DeferredRevenue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_DeferredRevenue</link:label>
    <link:label xlink:label="us-gaap_DeferredRevenue-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred Revenue</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenue" xlink:to="us-gaap_DeferredRevenue-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent</link:label>
    <link:label xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2018</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">2020</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LongTermDebt" xlink:label="us-gaap_LongTermDebt" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_LongTermDebt-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_LongTermDebt</link:label>
    <link:label xlink:label="us-gaap_LongTermDebt-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebt" xlink:to="us-gaap_LongTermDebt-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">2019</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_PrivatePlacementOfSeniorSecuredNotes" xlink:label="bcrx_PrivatePlacementOfSeniorSecuredNotes" xlink:type="locator"/>
    <link:label xlink:label="bcrx_PrivatePlacementOfSeniorSecuredNotes-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_PrivatePlacementOfSeniorSecuredNotes</link:label>
    <link:label xlink:label="bcrx_PrivatePlacementOfSeniorSecuredNotes-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Private Placement of Senior Secured Notes</link:label>
    <link:label xlink:label="bcrx_PrivatePlacementOfSeniorSecuredNotes-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents private placement of senior secured notes.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_PrivatePlacementOfSeniorSecuredNotes" xlink:to="bcrx_PrivatePlacementOfSeniorSecuredNotes-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">2021</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">2018</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_LongtermInvestmentMaturityMinimum" xlink:label="bcrx_LongtermInvestmentMaturityMinimum" xlink:type="locator"/>
    <link:label xlink:label="bcrx_LongtermInvestmentMaturityMinimum-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_LongtermInvestmentMaturityMinimum</link:label>
    <link:label xlink:label="bcrx_LongtermInvestmentMaturityMinimum-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-term Investment Maturity, Minimum</link:label>
    <link:label xlink:label="bcrx_LongtermInvestmentMaturityMinimum-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents long term investment maturity minimum.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_LongtermInvestmentMaturityMinimum" xlink:to="bcrx_LongtermInvestmentMaturityMinimum-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_MaximumAmountOfCollateralRequiredToPost" xlink:label="bcrx_MaximumAmountOfCollateralRequiredToPost" xlink:type="locator"/>
    <link:label xlink:label="bcrx_MaximumAmountOfCollateralRequiredToPost-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_MaximumAmountOfCollateralRequiredToPost</link:label>
    <link:label xlink:label="bcrx_MaximumAmountOfCollateralRequiredToPost-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum Amount of Collateral Required to Post</link:label>
    <link:label xlink:label="bcrx_MaximumAmountOfCollateralRequiredToPost-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents maximum amount of collateral required to post.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_MaximumAmountOfCollateralRequiredToPost" xlink:to="bcrx_MaximumAmountOfCollateralRequiredToPost-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FairValueInputsLevel2Member" xlink:label="us-gaap_FairValueInputsLevel2Member" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_FairValueInputsLevel2Member-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Inputs, Level 2 [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueInputsLevel2Member" xlink:to="us-gaap_FairValueInputsLevel2Member-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_JPRRoyaltySubLLCMember" xlink:label="bcrx_JPRRoyaltySubLLCMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_JPRRoyaltySubLLCMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">JPR Royalty Sub LLC [Member]</link:label>
    <link:label xlink:label="bcrx_JPRRoyaltySubLLCMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents JPR Royalty Sub LLC.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_JPRRoyaltySubLLCMember" xlink:to="bcrx_JPRRoyaltySubLLCMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RetainedEarningsMember" xlink:label="us-gaap_RetainedEarningsMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_RetainedEarningsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained Earnings [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsMember" xlink:to="us-gaap_RetainedEarningsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LineOfCredit" xlink:label="us-gaap_LineOfCredit" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_LineOfCredit-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_LineOfCredit</link:label>
    <link:label xlink:label="us-gaap_LineOfCredit-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-term Line of Credit</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCredit" xlink:to="us-gaap_LineOfCredit-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_RoyaltyReceivableMember" xlink:label="bcrx_RoyaltyReceivableMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_RoyaltyReceivableMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Royalty Receivable [Member]</link:label>
    <link:label xlink:label="bcrx_RoyaltyReceivableMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents royalty receivable.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_RoyaltyReceivableMember" xlink:to="bcrx_RoyaltyReceivableMember-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_PhaRMANotesMember" xlink:label="bcrx_PhaRMANotesMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_PhaRMANotesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PhaRMA Notes Member]</link:label>
    <link:label xlink:label="bcrx_PhaRMANotesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents PhaRMA notes.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_PhaRMANotesMember" xlink:to="bcrx_PhaRMANotesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AdditionalPaidInCapitalMember" xlink:label="us-gaap_AdditionalPaidInCapitalMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AdditionalPaidInCapitalMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional Paid-in Capital [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapitalMember" xlink:to="us-gaap_AdditionalPaidInCapitalMember-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_CollateralForCreditMember" xlink:label="bcrx_CollateralForCreditMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_CollateralForCreditMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Collateral for Credit [Member]</link:label>
    <link:label xlink:label="bcrx_CollateralForCreditMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Restricted cash and cash equivalents required to maintain as collateral for a letter of credit.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_CollateralForCreditMember" xlink:to="bcrx_CollateralForCreditMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:label="us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_FairValueMeasurementsFairValueHierarchyDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Hierarchy [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:to="us-gaap_FairValueMeasurementsFairValueHierarchyDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromStockOptionsExercised" xlink:label="us-gaap_ProceedsFromStockOptionsExercised" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ProceedsFromStockOptionsExercised-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net proceeds from common stock issued under stock-based compensation plans</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromStockOptionsExercised" xlink:to="us-gaap_ProceedsFromStockOptionsExercised-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_RAPIVABMember" xlink:label="bcrx_RAPIVABMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_RAPIVABMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">RAPIVAB [Member]</link:label>
    <link:label xlink:label="bcrx_RAPIVABMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents RAPIVAB product.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_RAPIVABMember" xlink:to="bcrx_RAPIVABMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:label="us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_FairValueByFairValueHierarchyLevelAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Hierarchy [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:to="us-gaap_FairValueByFairValueHierarchyLevelAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale of common stock, net</link:label>
    <link:label xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from Issuance of Common Stock</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:to="us-gaap_ProceedsFromIssuanceOfCommonStock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InvestmentPolicyTextBlock" xlink:label="us-gaap_InvestmentPolicyTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_InvestmentPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentPolicyTextBlock" xlink:to="us-gaap_InvestmentPolicyTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="us-gaap_EquityComponentDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_EquityComponentDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Component [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityComponentDomain" xlink:to="us-gaap_EquityComponentDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CommonStockMember" xlink:label="us-gaap_CommonStockMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CommonStockMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockMember" xlink:to="us-gaap_CommonStockMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="us-gaap_StatementEquityComponentsAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StatementEquityComponentsAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Components [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementEquityComponentsAxis" xlink:to="us-gaap_StatementEquityComponentsAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OtherCommitmentsDomain" xlink:label="us-gaap_OtherCommitmentsDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_OtherCommitmentsDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Commitments [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherCommitmentsDomain" xlink:to="us-gaap_OtherCommitmentsDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OtherCommitmentsAxis" xlink:label="us-gaap_OtherCommitmentsAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_OtherCommitmentsAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Commitments [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherCommitmentsAxis" xlink:to="us-gaap_OtherCommitmentsAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CurrencyAxis" xlink:label="us-gaap_CurrencyAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CurrencyAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Currency [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CurrencyAxis" xlink:to="us-gaap_CurrencyAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_MaturityPeriodOfHighQualityMarketablesecurities" xlink:label="bcrx_MaturityPeriodOfHighQualityMarketablesecurities" xlink:type="locator"/>
    <link:label xlink:label="bcrx_MaturityPeriodOfHighQualityMarketablesecurities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_MaturityPeriodOfHighQualityMarketablesecurities</link:label>
    <link:label xlink:label="bcrx_MaturityPeriodOfHighQualityMarketablesecurities-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maturity Period of High Quality Marketable Securities</link:label>
    <link:label xlink:label="bcrx_MaturityPeriodOfHighQualityMarketablesecurities-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents maturity period of high quality marketable securities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_MaturityPeriodOfHighQualityMarketablesecurities" xlink:to="bcrx_MaturityPeriodOfHighQualityMarketablesecurities-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_AvailableForSaleSecuritiesAccruedInterest" xlink:label="bcrx_AvailableForSaleSecuritiesAccruedInterest" xlink:type="locator"/>
    <link:label xlink:label="bcrx_AvailableForSaleSecuritiesAccruedInterest-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accrued Interest</link:label>
    <link:label xlink:label="bcrx_AvailableForSaleSecuritiesAccruedInterest-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents available for sale securities accrued interest.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_AvailableForSaleSecuritiesAccruedInterest" xlink:to="bcrx_AvailableForSaleSecuritiesAccruedInterest-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DerivativeForwardExchangeRate1" xlink:label="us-gaap_DerivativeForwardExchangeRate1" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DerivativeForwardExchangeRate1-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_DerivativeForwardExchangeRate1</link:label>
    <link:label xlink:label="us-gaap_DerivativeForwardExchangeRate1-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative, Forward Exchange Rate</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeForwardExchangeRate1" xlink:to="us-gaap_DerivativeForwardExchangeRate1-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DerivativeLossOnDerivative" xlink:label="us-gaap_DerivativeLossOnDerivative" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DerivativeLossOnDerivative-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_DerivativeLossOnDerivative</link:label>
    <link:label xlink:label="us-gaap_DerivativeLossOnDerivative-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative, Loss on Derivative</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeLossOnDerivative" xlink:to="us-gaap_DerivativeLossOnDerivative-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted average shares outstanding (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DerivativeGainOnDerivative" xlink:label="us-gaap_DerivativeGainOnDerivative" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DerivativeGainOnDerivative-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_DerivativeGainOnDerivative</link:label>
    <link:label xlink:label="us-gaap_DerivativeGainOnDerivative-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative, Gain on Derivative</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeGainOnDerivative" xlink:to="us-gaap_DerivativeGainOnDerivative-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount</link:label>
    <link:label xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:to="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_EarningsPerShareBasicAndDiluted" xlink:label="us-gaap_EarningsPerShareBasicAndDiluted" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_EarningsPerShareBasicAndDiluted-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Basic and diluted net loss per common share (in dollars per share)</link:label>
    <link:label xlink:label="us-gaap_EarningsPerShareBasicAndDiluted-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basic and diluted net loss per share (in dollars per share)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasicAndDiluted" xlink:to="us-gaap_EarningsPerShareBasicAndDiluted-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax" xlink:label="us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax</link:label>
    <link:label xlink:label="us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Gross Unrealized Losses</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax" xlink:to="us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax" xlink:label="us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gross Unrealized Gains</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax" xlink:to="us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_GovernmentContractReceivable" xlink:label="us-gaap_GovernmentContractReceivable" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_GovernmentContractReceivable-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_GovernmentContractReceivable</link:label>
    <link:label xlink:label="us-gaap_GovernmentContractReceivable-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Government Contract Receivable</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GovernmentContractReceivable" xlink:to="us-gaap_GovernmentContractReceivable-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableForSaleSecuritiesAmortizedCost" xlink:label="us-gaap_AvailableForSaleSecuritiesAmortizedCost" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AvailableForSaleSecuritiesAmortizedCost-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortized Cost</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AvailableForSaleSecuritiesAmortizedCost" xlink:to="us-gaap_AvailableForSaleSecuritiesAmortizedCost-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_AvailableForSaleSecuritiesDebtMaturitiesFairValueTableTextBlock" xlink:label="bcrx_AvailableForSaleSecuritiesDebtMaturitiesFairValueTableTextBlock" xlink:type="locator"/>
    <link:label xlink:label="bcrx_AvailableForSaleSecuritiesDebtMaturitiesFairValueTableTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Available For Sale Securities Debt Maturities Fair Value [Table Text Block]</link:label>
    <link:label xlink:label="bcrx_AvailableForSaleSecuritiesDebtMaturitiesFairValueTableTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tabular disclosure of available for sale securities debt maturities fair value.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_AvailableForSaleSecuritiesDebtMaturitiesFairValueTableTextBlock" xlink:to="bcrx_AvailableForSaleSecuritiesDebtMaturitiesFairValueTableTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsFairValue" xlink:label="bcrx_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsFairValue" xlink:type="locator"/>
    <link:label xlink:label="bcrx_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsFairValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maturing after one year through two years</link:label>
    <link:label xlink:label="bcrx_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsFairValue-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents available for sale securities debt maturities after one through two years fair value.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsFairValue" xlink:to="bcrx_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsFairValue-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_ScheduleOfReceivablesFromCollaborationsTableTextBlock" xlink:label="bcrx_ScheduleOfReceivablesFromCollaborationsTableTextBlock" xlink:type="locator"/>
    <link:label xlink:label="bcrx_ScheduleOfReceivablesFromCollaborationsTableTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Receivables from Collaborations [Table Text Block]</link:label>
    <link:label xlink:label="bcrx_ScheduleOfReceivablesFromCollaborationsTableTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tabular disclosure representing receivables from collaborations.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_ScheduleOfReceivablesFromCollaborationsTableTextBlock" xlink:to="bcrx_ScheduleOfReceivablesFromCollaborationsTableTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ComputerEquipmentMember" xlink:label="us-gaap_ComputerEquipmentMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ComputerEquipmentMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Computer Equipment [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ComputerEquipmentMember" xlink:to="us-gaap_ComputerEquipmentMember-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_ShionogiAndCoLtdMember" xlink:label="bcrx_ShionogiAndCoLtdMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_ShionogiAndCoLtdMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Shionogi and Co. Ltd [Member]</link:label>
    <link:label xlink:label="bcrx_ShionogiAndCoLtdMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Shionogi &amp; Co. Ltd.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_ShionogiAndCoLtdMember" xlink:to="bcrx_ShionogiAndCoLtdMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OfficeEquipmentMember" xlink:label="us-gaap_OfficeEquipmentMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_OfficeEquipmentMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Office Equipment [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OfficeEquipmentMember" xlink:to="us-gaap_OfficeEquipmentMember-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_CSLLimitedMember" xlink:label="bcrx_CSLLimitedMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_CSLLimitedMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">CSL Limited [Member</link:label>
    <link:label xlink:label="bcrx_CSLLimitedMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents CSL Limited which is a company organized under the laws of Australia.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_CSLLimitedMember" xlink:to="bcrx_CSLLimitedMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SoftwareDevelopmentMember" xlink:label="us-gaap_SoftwareDevelopmentMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SoftwareDevelopmentMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Software Development [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SoftwareDevelopmentMember" xlink:to="us-gaap_SoftwareDevelopmentMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_BalanceSheetLocationDomain" xlink:label="us-gaap_BalanceSheetLocationDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_BalanceSheetLocationDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Balance Sheet Location [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BalanceSheetLocationDomain" xlink:to="us-gaap_BalanceSheetLocationDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_BalanceSheetLocationAxis" xlink:label="us-gaap_BalanceSheetLocationAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_BalanceSheetLocationAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Balance Sheet Location [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BalanceSheetLocationAxis" xlink:to="us-gaap_BalanceSheetLocationAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScenarioUnspecifiedDomain" xlink:label="us-gaap_ScenarioUnspecifiedDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ScenarioUnspecifiedDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Scenario, Unspecified [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScenarioUnspecifiedDomain" xlink:to="us-gaap_ScenarioUnspecifiedDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScenarioForecastMember" xlink:label="us-gaap_ScenarioForecastMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ScenarioForecastMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Scenario, Forecast [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScenarioForecastMember" xlink:to="us-gaap_ScenarioForecastMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_GeneralAndAdministrativeExpenseMember" xlink:label="us-gaap_GeneralAndAdministrativeExpenseMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_GeneralAndAdministrativeExpenseMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">General and Administrative Expense [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GeneralAndAdministrativeExpenseMember" xlink:to="us-gaap_GeneralAndAdministrativeExpenseMember-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_ScheduleOfRevenuesFromCollaborationsTableTextBlock" xlink:label="bcrx_ScheduleOfRevenuesFromCollaborationsTableTextBlock" xlink:type="locator"/>
    <link:label xlink:label="bcrx_ScheduleOfRevenuesFromCollaborationsTableTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Revenues from Collaborations [Table Text Block]</link:label>
    <link:label xlink:label="bcrx_ScheduleOfRevenuesFromCollaborationsTableTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tabular disclosure of schedule of revenues from collaborations.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_ScheduleOfRevenuesFromCollaborationsTableTextBlock" xlink:to="bcrx_ScheduleOfRevenuesFromCollaborationsTableTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_RoyaltyTerm" xlink:label="bcrx_RoyaltyTerm" xlink:type="locator"/>
    <link:label xlink:label="bcrx_RoyaltyTerm-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_RoyaltyTerm</link:label>
    <link:label xlink:label="bcrx_RoyaltyTerm-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Royalty Term</link:label>
    <link:label xlink:label="bcrx_RoyaltyTerm-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Period of time between the date of the Agreement and its expiration.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_RoyaltyTerm" xlink:to="bcrx_RoyaltyTerm-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StatementScenarioAxis" xlink:label="us-gaap_StatementScenarioAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StatementScenarioAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Scenario [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementScenarioAxis" xlink:to="us-gaap_StatementScenarioAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_CollaborativeAndOtherResearchAndDevelopmentRevenues" xlink:label="bcrx_CollaborativeAndOtherResearchAndDevelopmentRevenues" xlink:type="locator"/>
    <link:label xlink:label="bcrx_CollaborativeAndOtherResearchAndDevelopmentRevenues-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Collaborative and other research and development revenues</link:label>
    <link:label xlink:label="bcrx_CollaborativeAndOtherResearchAndDevelopmentRevenues-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_CollaborativeAndOtherResearchAndDevelopmentRevenues</link:label>
    <link:label xlink:label="bcrx_CollaborativeAndOtherResearchAndDevelopmentRevenues-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents collaborative and other research and development.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_CollaborativeAndOtherResearchAndDevelopmentRevenues" xlink:to="bcrx_CollaborativeAndOtherResearchAndDevelopmentRevenues-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners" xlink:label="us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners</link:label>
    <link:label xlink:label="us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners" xlink:to="us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DomesticCountryMember" xlink:label="us-gaap_DomesticCountryMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DomesticCountryMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Domestic Tax Authority [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DomesticCountryMember" xlink:to="us-gaap_DomesticCountryMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StateAndLocalJurisdictionMember" xlink:label="us-gaap_StateAndLocalJurisdictionMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StateAndLocalJurisdictionMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">State and Local Jurisdiction [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StateAndLocalJurisdictionMember" xlink:to="us-gaap_StateAndLocalJurisdictionMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock" xlink:label="us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Accrued Liabilities [Table Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock" xlink:to="us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeTaxAuthorityDomain" xlink:label="us-gaap_IncomeTaxAuthorityDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncomeTaxAuthorityDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Authority [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxAuthorityDomain" xlink:to="us-gaap_IncomeTaxAuthorityDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeTaxAuthorityAxis" xlink:label="us-gaap_IncomeTaxAuthorityAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncomeTaxAuthorityAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Authority [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxAuthorityAxis" xlink:to="us-gaap_IncomeTaxAuthorityAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeStatementLocationDomain" xlink:label="us-gaap_IncomeStatementLocationDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncomeStatementLocationDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Statement Location [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementLocationDomain" xlink:to="us-gaap_IncomeStatementLocationDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ReceivablesPolicyTextBlock" xlink:label="us-gaap_ReceivablesPolicyTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ReceivablesPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Receivables, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ReceivablesPolicyTextBlock" xlink:to="us-gaap_ReceivablesPolicyTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeStatementLocationAxis" xlink:label="us-gaap_IncomeStatementLocationAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncomeStatementLocationAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Statement Location [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementLocationAxis" xlink:to="us-gaap_IncomeStatementLocationAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ResearchAndDevelopmentExpenseMember" xlink:label="us-gaap_ResearchAndDevelopmentExpenseMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ResearchAndDevelopmentExpenseMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Research and Development Expense [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ResearchAndDevelopmentExpenseMember" xlink:to="us-gaap_ResearchAndDevelopmentExpenseMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:to="us-gaap_CashAndCashEquivalentsPolicyTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_MaximumMember" xlink:label="us-gaap_MaximumMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_MaximumMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maximum [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MaximumMember" xlink:to="us-gaap_MaximumMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromIssuanceOfSecuredDebt" xlink:label="us-gaap_ProceedsFromIssuanceOfSecuredDebt" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ProceedsFromIssuanceOfSecuredDebt-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ProceedsFromIssuanceOfSecuredDebt</link:label>
    <link:label xlink:label="us-gaap_ProceedsFromIssuanceOfSecuredDebt-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from Issuance of Secured Debt</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfSecuredDebt" xlink:to="us-gaap_ProceedsFromIssuanceOfSecuredDebt-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:label="us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_BasisOfAccountingPolicyPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Basis of Accounting, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:to="us-gaap_BasisOfAccountingPolicyPolicyTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RangeMember" xlink:label="us-gaap_RangeMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_RangeMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Range [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RangeMember" xlink:to="us-gaap_RangeMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:label="us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:to="us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_MinimumMember" xlink:label="us-gaap_MinimumMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_MinimumMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Minimum [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinimumMember" xlink:to="us-gaap_MinimumMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_MajorCustomersAxis" xlink:label="us-gaap_MajorCustomersAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_MajorCustomersAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Customer [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MajorCustomersAxis" xlink:to="us-gaap_MajorCustomersAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodAwardsAvailable" xlink:label="bcrx_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodAwardsAvailable" xlink:type="locator"/>
    <link:label xlink:label="bcrx_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodAwardsAvailable-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodAwardsAvailable</link:label>
    <link:label xlink:label="bcrx_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodAwardsAvailable-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Awards available, stock option awards granted (in shares)</link:label>
    <link:label xlink:label="bcrx_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodAwardsAvailable-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents share based compensation arrangement by share based payment award options grants in period awards available.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodAwardsAvailable" xlink:to="bcrx_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodAwardsAvailable-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SignificantAccountingPoliciesTextBlock" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Significant Accounting Policies [Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SignificantAccountingPoliciesTextBlock" xlink:to="us-gaap_SignificantAccountingPoliciesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RangeAxis" xlink:label="us-gaap_RangeAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_RangeAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Range [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RangeAxis" xlink:to="us-gaap_RangeAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NameOfMajorCustomerDomain" xlink:label="us-gaap_NameOfMajorCustomerDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_NameOfMajorCustomerDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Customer [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NameOfMajorCustomerDomain" xlink:to="us-gaap_NameOfMajorCustomerDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="us-gaap_AccountingPoliciesAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AccountingPoliciesAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounting Policies [Abstract]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountingPoliciesAbstract" xlink:to="us-gaap_AccountingPoliciesAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_UnrecognizedTaxBenefits" xlink:label="us-gaap_UnrecognizedTaxBenefits" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_UnrecognizedTaxBenefits-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_UnrecognizedTaxBenefits</link:label>
    <link:label xlink:label="us-gaap_UnrecognizedTaxBenefits-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance</link:label>
    <link:label xlink:label="us-gaap_UnrecognizedTaxBenefits-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnrecognizedTaxBenefits" xlink:to="us-gaap_UnrecognizedTaxBenefits-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="us-gaap_StatementOfFinancialPositionAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StatementOfFinancialPositionAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Financial Position [Abstract]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfFinancialPositionAbstract" xlink:to="us-gaap_StatementOfFinancialPositionAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions" xlink:label="us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additions to current period tax positions</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions" xlink:to="us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue" xlink:label="us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maturing in one year or less</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue" xlink:to="us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions" xlink:label="us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions</link:label>
    <link:label xlink:label="us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Reductions to prior period tax provisions</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions" xlink:to="us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions" xlink:label="us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additions to prior period tax positions</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions" xlink:to="us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ResearchAndDevelopmentArrangementContractToPerformForOthersTypeDomain" xlink:label="us-gaap_ResearchAndDevelopmentArrangementContractToPerformForOthersTypeDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ResearchAndDevelopmentArrangementContractToPerformForOthersTypeDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Research and Development Arrangement, Contract to Perform for Others, Type [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ResearchAndDevelopmentArrangementContractToPerformForOthersTypeDomain" xlink:to="us-gaap_ResearchAndDevelopmentArrangementContractToPerformForOthersTypeDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ResearchAndDevelopmentArrangementContractToPerformForOthersByTypeAxis" xlink:label="us-gaap_ResearchAndDevelopmentArrangementContractToPerformForOthersByTypeAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ResearchAndDevelopmentArrangementContractToPerformForOthersByTypeAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Research and Development Arrangement, Contract to Perform for Others, Type [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ResearchAndDevelopmentArrangementContractToPerformForOthersByTypeAxis" xlink:to="us-gaap_ResearchAndDevelopmentArrangementContractToPerformForOthersByTypeAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="us-gaap_StatementOfCashFlowsAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StatementOfCashFlowsAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Cash Flows [Abstract]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfCashFlowsAbstract" xlink:to="us-gaap_StatementOfCashFlowsAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StatementOfStockholdersEquityAbstract" xlink:label="us-gaap_StatementOfStockholdersEquityAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StatementOfStockholdersEquityAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Stockholders' Equity [Abstract]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfStockholdersEquityAbstract" xlink:to="us-gaap_StatementOfStockholdersEquityAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_BilledRevenuesMember" xlink:label="us-gaap_BilledRevenuesMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_BilledRevenuesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Billed Revenues [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BilledRevenuesMember" xlink:to="us-gaap_BilledRevenuesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_UnbilledRevenuesMember" xlink:label="us-gaap_UnbilledRevenuesMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_UnbilledRevenuesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unbilled Revenues [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnbilledRevenuesMember" xlink:to="us-gaap_UnbilledRevenuesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock" xlink:label="us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Quarterly Financial Information [Table Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock" xlink:to="us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromLinesOfCredit" xlink:label="us-gaap_ProceedsFromLinesOfCredit" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ProceedsFromLinesOfCredit-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from senior credit facility</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromLinesOfCredit" xlink:to="us-gaap_ProceedsFromLinesOfCredit-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_DescriptionOfCompanyPolicyTextBlock" xlink:label="bcrx_DescriptionOfCompanyPolicyTextBlock" xlink:type="locator"/>
    <link:label xlink:label="bcrx_DescriptionOfCompanyPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of Company [Policy Text Block]</link:label>
    <link:label xlink:label="bcrx_DescriptionOfCompanyPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The description of company policy.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_DescriptionOfCompanyPolicyTextBlock" xlink:to="bcrx_DescriptionOfCompanyPolicyTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock" xlink:label="us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock" xlink:to="us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ReceivablesBillingStatusDomain" xlink:label="us-gaap_ReceivablesBillingStatusDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ReceivablesBillingStatusDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Receivables Billing Status [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ReceivablesBillingStatusDomain" xlink:to="us-gaap_ReceivablesBillingStatusDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AccountsNotesLoansAndFinancingReceivablesByBillingStatusTypeAxis" xlink:label="us-gaap_AccountsNotesLoansAndFinancingReceivablesByBillingStatusTypeAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AccountsNotesLoansAndFinancingReceivablesByBillingStatusTypeAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Billing Status, Type [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsNotesLoansAndFinancingReceivablesByBillingStatusTypeAxis" xlink:to="us-gaap_AccountsNotesLoansAndFinancingReceivablesByBillingStatusTypeAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProductsAndServicesDomain" xlink:label="us-gaap_ProductsAndServicesDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ProductsAndServicesDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Products and Services [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProductsAndServicesDomain" xlink:to="us-gaap_ProductsAndServicesDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProductOrServiceAxis" xlink:label="us-gaap_ProductOrServiceAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ProductOrServiceAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Products and Services [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProductOrServiceAxis" xlink:to="us-gaap_ProductOrServiceAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock" xlink:label="us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock" xlink:to="us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LegalEntityTypeOfCounterpartyDomain" xlink:label="us-gaap_LegalEntityTypeOfCounterpartyDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_LegalEntityTypeOfCounterpartyDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Legal Entity Type of Counterparty [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LegalEntityTypeOfCounterpartyDomain" xlink:to="us-gaap_LegalEntityTypeOfCounterpartyDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock" xlink:label="us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock" xlink:to="us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OwnershipDomain" xlink:label="us-gaap_OwnershipDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_OwnershipDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ownership [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OwnershipDomain" xlink:to="us-gaap_OwnershipDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xlink:label="us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Deferred Tax Assets and Liabilities [Table Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xlink:to="us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis" xlink:label="us-gaap_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Legal Entity of Counterparty, Type [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis" xlink:to="us-gaap_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OwnershipAxis" xlink:label="us-gaap_OwnershipAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_OwnershipAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ownership [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OwnershipAxis" xlink:to="us-gaap_OwnershipAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_AccruedExpensesPolicyTextBlock" xlink:label="bcrx_AccruedExpensesPolicyTextBlock" xlink:type="locator"/>
    <link:label xlink:label="bcrx_AccruedExpensesPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accrued Expenses [Policy Text Block]</link:label>
    <link:label xlink:label="bcrx_AccruedExpensesPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents accrued expenses policy.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_AccruedExpensesPolicyTextBlock" xlink:to="bcrx_AccruedExpensesPolicyTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_InterestExpenseAndDeferredFinancingCostsPolicyTextBlock" xlink:label="bcrx_InterestExpenseAndDeferredFinancingCostsPolicyTextBlock" xlink:type="locator"/>
    <link:label xlink:label="bcrx_InterestExpenseAndDeferredFinancingCostsPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense and Deferred Financing Costs [Policy Text Block]</link:label>
    <link:label xlink:label="bcrx_InterestExpenseAndDeferredFinancingCostsPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents interest expense and deferred financing costs.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_InterestExpenseAndDeferredFinancingCostsPolicyTextBlock" xlink:to="bcrx_InterestExpenseAndDeferredFinancingCostsPolicyTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_CurrencyHedgeAgreementPolicyTextBlock" xlink:label="bcrx_CurrencyHedgeAgreementPolicyTextBlock" xlink:type="locator"/>
    <link:label xlink:label="bcrx_CurrencyHedgeAgreementPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Currency Hedge Agreement [Policy Text Block]</link:label>
    <link:label xlink:label="bcrx_CurrencyHedgeAgreementPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents currency hedge agreement policy.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_CurrencyHedgeAgreementPolicyTextBlock" xlink:to="bcrx_CurrencyHedgeAgreementPolicyTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_TaxCreditCarryforwardAmount" xlink:label="us-gaap_TaxCreditCarryforwardAmount" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_TaxCreditCarryforwardAmount-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_TaxCreditCarryforwardAmount</link:label>
    <link:label xlink:label="us-gaap_TaxCreditCarryforwardAmount-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tax Credit Carryforward, Amount</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TaxCreditCarryforwardAmount" xlink:to="us-gaap_TaxCreditCarryforwardAmount-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_ConcentrationOfMarketRiskPolicyTextBlock" xlink:label="bcrx_ConcentrationOfMarketRiskPolicyTextBlock" xlink:type="locator"/>
    <link:label xlink:label="bcrx_ConcentrationOfMarketRiskPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration of Market Risk [Policy Text Block]</link:label>
    <link:label xlink:label="bcrx_ConcentrationOfMarketRiskPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents concentration of market risk policy.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_ConcentrationOfMarketRiskPolicyTextBlock" xlink:to="bcrx_ConcentrationOfMarketRiskPolicyTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ResearchMember" xlink:label="us-gaap_ResearchMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ResearchMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Research Tax Credit Carryforward [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ResearchMember" xlink:to="us-gaap_ResearchMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_TaxCreditCarryforwardAxis" xlink:label="us-gaap_TaxCreditCarryforwardAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_TaxCreditCarryforwardAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax Credit Carryforward [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TaxCreditCarryforwardAxis" xlink:to="us-gaap_TaxCreditCarryforwardAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_TaxCreditCarryforwardNameDomain" xlink:label="us-gaap_TaxCreditCarryforwardNameDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_TaxCreditCarryforwardNameDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax Credit Carryforward, Name [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TaxCreditCarryforwardNameDomain" xlink:to="us-gaap_TaxCreditCarryforwardNameDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingLossCarryforwardsValuationAllowance" xlink:label="us-gaap_OperatingLossCarryforwardsValuationAllowance" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_OperatingLossCarryforwardsValuationAllowance-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_OperatingLossCarryforwardsValuationAllowance</link:label>
    <link:label xlink:label="us-gaap_OperatingLossCarryforwardsValuationAllowance-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Loss Carryforwards, Valuation Allowance</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLossCarryforwardsValuationAllowance" xlink:to="us-gaap_OperatingLossCarryforwardsValuationAllowance-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingLossCarryforwards" xlink:label="us-gaap_OperatingLossCarryforwards" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_OperatingLossCarryforwards-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_OperatingLossCarryforwards</link:label>
    <link:label xlink:label="us-gaap_OperatingLossCarryforwards-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Loss Carryforwards</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLossCarryforwards" xlink:to="us-gaap_OperatingLossCarryforwards-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="us-gaap_IncomeTaxExpenseBenefit" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncomeTaxExpenseBenefit-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_IncomeTaxExpenseBenefit</link:label>
    <link:label xlink:label="us-gaap_IncomeTaxExpenseBenefit-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Income tax expense</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxExpenseBenefit" xlink:to="us-gaap_IncomeTaxExpenseBenefit-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PolicyTextBlockAbstract" xlink:label="us-gaap_PolicyTextBlockAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_PolicyTextBlockAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_PolicyTextBlockAbstract</link:label>
    <link:label xlink:label="us-gaap_PolicyTextBlockAbstract-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounting Policies</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PolicyTextBlockAbstract" xlink:to="us-gaap_PolicyTextBlockAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CorporateDebtSecuritiesMember" xlink:label="us-gaap_CorporateDebtSecuritiesMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CorporateDebtSecuritiesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Corporate Debt Securities [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CorporateDebtSecuritiesMember" xlink:to="us-gaap_CorporateDebtSecuritiesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CreditFacilityDomain" xlink:label="us-gaap_CreditFacilityDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CreditFacilityDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Credit Facility [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CreditFacilityDomain" xlink:to="us-gaap_CreditFacilityDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_MidCapFinancialServicesLLCMember" xlink:label="bcrx_MidCapFinancialServicesLLCMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_MidCapFinancialServicesLLCMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">MidCap Financial Services, LLC [Member]</link:label>
    <link:label xlink:label="bcrx_MidCapFinancialServicesLLCMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents MidCap Financial Services, LLC entity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_MidCapFinancialServicesLLCMember" xlink:to="bcrx_MidCapFinancialServicesLLCMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AvailableForSaleSecuritiesTextBlock" xlink:label="us-gaap_AvailableForSaleSecuritiesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AvailableForSaleSecuritiesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Available-for-sale Securities [Table Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AvailableForSaleSecuritiesTextBlock" xlink:to="us-gaap_AvailableForSaleSecuritiesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DeferredRentCreditNoncurrent" xlink:label="us-gaap_DeferredRentCreditNoncurrent" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DeferredRentCreditNoncurrent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred rent</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRentCreditNoncurrent" xlink:to="us-gaap_DeferredRentCreditNoncurrent-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StatementTable-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement [Table]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementTable-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_DebtInstrumentFinalPaymentFeePercentage" xlink:label="bcrx_DebtInstrumentFinalPaymentFeePercentage" xlink:type="locator"/>
    <link:label xlink:label="bcrx_DebtInstrumentFinalPaymentFeePercentage-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_DebtInstrumentFinalPaymentFeePercentage</link:label>
    <link:label xlink:label="bcrx_DebtInstrumentFinalPaymentFeePercentage-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument, Final Payment Fee, Percentage</link:label>
    <link:label xlink:label="bcrx_DebtInstrumentFinalPaymentFeePercentage-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage fee of principal amount of debt at which final payment has been made.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_DebtInstrumentFinalPaymentFeePercentage" xlink:to="bcrx_DebtInstrumentFinalPaymentFeePercentage-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_SeniorCreditFacilityMember" xlink:label="bcrx_SeniorCreditFacilityMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_SeniorCreditFacilityMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Credit Facility [Member]</link:label>
    <link:label xlink:label="bcrx_SeniorCreditFacilityMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents senior credit facility. Credit facilities provide capital to borrowers without the need to structure a loan for each borrowing.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_SeniorCreditFacilityMember" xlink:to="bcrx_SeniorCreditFacilityMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CreditFacilityAxis" xlink:label="us-gaap_CreditFacilityAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CreditFacilityAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Credit Facility [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CreditFacilityAxis" xlink:to="us-gaap_CreditFacilityAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DeferredRevenueNoncurrent" xlink:label="us-gaap_DeferredRevenueNoncurrent" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DeferredRevenueNoncurrent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_DeferredRevenueNoncurrent</link:label>
    <link:label xlink:label="us-gaap_DeferredRevenueNoncurrent-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred collaboration revenue</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenueNoncurrent" xlink:to="us-gaap_DeferredRevenueNoncurrent-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeStatementAbstract" xlink:label="us-gaap_IncomeStatementAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncomeStatementAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Statement [Abstract]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementAbstract" xlink:to="us-gaap_IncomeStatementAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing activities:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_AccruedDevelopmentCosts" xlink:label="bcrx_AccruedDevelopmentCosts" xlink:type="locator"/>
    <link:label xlink:label="bcrx_AccruedDevelopmentCosts-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_AccruedDevelopmentCosts</link:label>
    <link:label xlink:label="bcrx_AccruedDevelopmentCosts-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Development costs</link:label>
    <link:label xlink:label="bcrx_AccruedDevelopmentCosts-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents accrued development costs.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_AccruedDevelopmentCosts" xlink:to="bcrx_AccruedDevelopmentCosts-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AwardDateDomain" xlink:label="us-gaap_AwardDateDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AwardDateDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Date [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AwardDateDomain" xlink:to="us-gaap_AwardDateDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_AgreementMember" xlink:label="bcrx_AgreementMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_AgreementMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Agreement [Member]</link:label>
    <link:label xlink:label="bcrx_AgreementMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents a License Agreement (the "Agreement") granting rights to develop, manufacture and commercialize RAPIVAB&#174;.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_AgreementMember" xlink:to="bcrx_AgreementMember-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_AccruedInventoryExpense" xlink:label="bcrx_AccruedInventoryExpense" xlink:type="locator"/>
    <link:label xlink:label="bcrx_AccruedInventoryExpense-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_AccruedInventoryExpense</link:label>
    <link:label xlink:label="bcrx_AccruedInventoryExpense-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Inventory</link:label>
    <link:label xlink:label="bcrx_AccruedInventoryExpense-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the amount of accrued inventory expense.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_AccruedInventoryExpense" xlink:to="bcrx_AccruedInventoryExpense-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="us-gaap_StatementClassOfStockAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StatementClassOfStockAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Stock [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementClassOfStockAxis" xlink:to="us-gaap_StatementClassOfStockAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_RevenueFromSaleOfInventoryToBeRecognizedWhenTheInventoryTransferIsCompleteMember" xlink:label="bcrx_RevenueFromSaleOfInventoryToBeRecognizedWhenTheInventoryTransferIsCompleteMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_RevenueFromSaleOfInventoryToBeRecognizedWhenTheInventoryTransferIsCompleteMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue from Sale of Inventory to be Recognized When the Inventory Transfer Is Complete [Member]</link:label>
    <link:label xlink:label="bcrx_RevenueFromSaleOfInventoryToBeRecognizedWhenTheInventoryTransferIsCompleteMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents deferred revenue from the sale of inventory to be recognized when the inventory transfer is complete.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_RevenueFromSaleOfInventoryToBeRecognizedWhenTheInventoryTransferIsCompleteMember" xlink:to="bcrx_RevenueFromSaleOfInventoryToBeRecognizedWhenTheInventoryTransferIsCompleteMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AwardTypeAxis" xlink:label="us-gaap_AwardTypeAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AwardTypeAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Type [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AwardTypeAxis" xlink:to="us-gaap_AwardTypeAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_CSLMember" xlink:label="bcrx_CSLMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_CSLMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">CSL [Member]</link:label>
    <link:label xlink:label="bcrx_CSLMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents CSL Limited (&#8220;CSL&#8221;) and its affiliates.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_CSLMember" xlink:to="bcrx_CSLMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_EmployeeStockOwnershipPlanESOPWeightedAveragePurchasePriceOfSharesPurchased" xlink:label="us-gaap_EmployeeStockOwnershipPlanESOPWeightedAveragePurchasePriceOfSharesPurchased" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_EmployeeStockOwnershipPlanESOPWeightedAveragePurchasePriceOfSharesPurchased-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_EmployeeStockOwnershipPlanESOPWeightedAveragePurchasePriceOfSharesPurchased</link:label>
    <link:label xlink:label="us-gaap_EmployeeStockOwnershipPlanESOPWeightedAveragePurchasePriceOfSharesPurchased-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Employee Stock Ownership Plan (ESOP), Weighted Average Purchase Price of Shares Purchased</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeStockOwnershipPlanESOPWeightedAveragePurchasePriceOfSharesPurchased" xlink:to="us-gaap_EmployeeStockOwnershipPlanESOPWeightedAveragePurchasePriceOfSharesPurchased-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AwardDateAxis" xlink:label="us-gaap_AwardDateAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AwardDateAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Date [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AwardDateAxis" xlink:to="us-gaap_AwardDateAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Award [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:to="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_MundipharmaMember" xlink:label="bcrx_MundipharmaMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_MundipharmaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mundipharma [Member]</link:label>
    <link:label xlink:label="bcrx_MundipharmaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information pertaining to Mundipharma.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_MundipharmaMember" xlink:to="bcrx_MundipharmaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_RegulatorySupportRevenueForCanadianAndEUMarketingApprovalsPortionRecognizedRatablyOverExpectedPeriodOfInvolvementMember" xlink:label="bcrx_RegulatorySupportRevenueForCanadianAndEUMarketingApprovalsPortionRecognizedRatablyOverExpectedPeriodOfInvolvementMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_RegulatorySupportRevenueForCanadianAndEUMarketingApprovalsPortionRecognizedRatablyOverExpectedPeriodOfInvolvementMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Regulatory Support Revenue for Canadian and EU Marketing Approvals, Portion Recognized Ratably Over Expected Period of Involvement [Member]</link:label>
    <link:label xlink:label="bcrx_RegulatorySupportRevenueForCanadianAndEUMarketingApprovalsPortionRecognizedRatablyOverExpectedPeriodOfInvolvementMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents deferred revenue from upfront payment allocated to the regulatory support for the Canadian and EU marketing approvals, portion to be recognized ratably over the expected period of involvement.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_RegulatorySupportRevenueForCanadianAndEUMarketingApprovalsPortionRecognizedRatablyOverExpectedPeriodOfInvolvementMember" xlink:to="bcrx_RegulatorySupportRevenueForCanadianAndEUMarketingApprovalsPortionRecognizedRatablyOverExpectedPeriodOfInvolvementMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PaymentsForProceedsFromHedgeInvestingActivities" xlink:label="us-gaap_PaymentsForProceedsFromHedgeInvestingActivities" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_PaymentsForProceedsFromHedgeInvestingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_PaymentsForProceedsFromHedgeInvestingActivities</link:label>
    <link:label xlink:label="us-gaap_PaymentsForProceedsFromHedgeInvestingActivities-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Payments for (Proceeds from) Hedge, Investing Activities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForProceedsFromHedgeInvestingActivities" xlink:to="us-gaap_PaymentsForProceedsFromHedgeInvestingActivities-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_PercentageOfCarryingAmountInExcessOfFairValue1" xlink:label="bcrx_PercentageOfCarryingAmountInExcessOfFairValue1" xlink:type="locator"/>
    <link:label xlink:label="bcrx_PercentageOfCarryingAmountInExcessOfFairValue1-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_PercentageOfCarryingAmountInExcessOfFairValue1</link:label>
    <link:label xlink:label="bcrx_PercentageOfCarryingAmountInExcessOfFairValue1-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of Carrying Amount in Excess of Fair Value</link:label>
    <link:label xlink:label="bcrx_PercentageOfCarryingAmountInExcessOfFairValue1-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the percentage of carrying amount in excess of fair value.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_PercentageOfCarryingAmountInExcessOfFairValue1" xlink:to="bcrx_PercentageOfCarryingAmountInExcessOfFairValue1-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_LeasedEquipmentMember" xlink:label="bcrx_LeasedEquipmentMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_LeasedEquipmentMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Leased Equipment [Member]</link:label>
    <link:label xlink:label="bcrx_LeasedEquipmentMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information pertaining to leased equipment.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_LeasedEquipmentMember" xlink:to="bcrx_LeasedEquipmentMember-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_LaboratoryEquipmentMember" xlink:label="bcrx_LaboratoryEquipmentMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_LaboratoryEquipmentMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Laboratory Equipment [Member]</link:label>
    <link:label xlink:label="bcrx_LaboratoryEquipmentMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information pertaining to laboratory equipment.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_LaboratoryEquipmentMember" xlink:to="bcrx_LaboratoryEquipmentMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeTaxReconciliationOtherAdjustments" xlink:label="us-gaap_IncomeTaxReconciliationOtherAdjustments" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncomeTaxReconciliationOtherAdjustments-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_IncomeTaxReconciliationOtherAdjustments</link:label>
    <link:label xlink:label="us-gaap_IncomeTaxReconciliationOtherAdjustments-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationOtherAdjustments" xlink:to="us-gaap_IncomeTaxReconciliationOtherAdjustments-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" xlink:label="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate</link:label>
    <link:label xlink:label="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" xlink:to="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NondesignatedMember" xlink:label="us-gaap_NondesignatedMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_NondesignatedMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Not Designated as Hedging Instrument [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NondesignatedMember" xlink:to="us-gaap_NondesignatedMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeTaxReconciliationChangeInEnactedTaxRate" xlink:label="us-gaap_IncomeTaxReconciliationChangeInEnactedTaxRate" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncomeTaxReconciliationChangeInEnactedTaxRate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Rate change</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationChangeInEnactedTaxRate" xlink:to="us-gaap_IncomeTaxReconciliationChangeInEnactedTaxRate-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance" xlink:label="us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Change in valuation allowance</link:label>
    <link:label xlink:label="us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance" xlink:to="us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:label="us-gaap_LiabilitiesCurrent" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_LiabilitiesCurrent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_LiabilitiesCurrent</link:label>
    <link:label xlink:label="us-gaap_LiabilitiesCurrent-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total current liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrent" xlink:to="us-gaap_LiabilitiesCurrent-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_HedgingDesignationDomain" xlink:label="us-gaap_HedgingDesignationDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_HedgingDesignationDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hedging Designation [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_HedgingDesignationDomain" xlink:to="us-gaap_HedgingDesignationDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock" xlink:label="us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">New Accounting Pronouncements and Changes in Accounting Principles [Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock" xlink:to="us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_HedgingDesignationAxis" xlink:label="us-gaap_HedgingDesignationAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_HedgingDesignationAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hedging Designation [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_HedgingDesignationAxis" xlink:to="us-gaap_HedgingDesignationAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:label="us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Maturities of Long-term Debt [Table Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:to="us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Exercisable Number (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions" xlink:to="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Outstanding Weighted Average Remaining Life (Year)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2" xlink:to="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Exercisable Weighted Average Exercise Price (in dollars per share)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1" xlink:to="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock" xlink:label="us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation, Activity [Table Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock" xlink:to="us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Outstanding Weighted Average Exercise Price (in dollars per share)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1" xlink:to="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_VestUponSuccessfulCompletionOfSpecificDevelopmentMilestonesMember" xlink:label="bcrx_VestUponSuccessfulCompletionOfSpecificDevelopmentMilestonesMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_VestUponSuccessfulCompletionOfSpecificDevelopmentMilestonesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vest Upon Successful Completion of Specific Development Milestones [Member]</link:label>
    <link:label xlink:label="bcrx_VestUponSuccessfulCompletionOfSpecificDevelopmentMilestonesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents vesting upon successful completion of specific development milestones.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_VestUponSuccessfulCompletionOfSpecificDevelopmentMilestonesMember" xlink:to="bcrx_VestUponSuccessfulCompletionOfSpecificDevelopmentMilestonesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock" xlink:label="us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock" xlink:to="us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Outstanding Number (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions" xlink:to="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_December2014Member" xlink:label="bcrx_December2014Member" xlink:type="locator"/>
    <link:label xlink:label="bcrx_December2014Member-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">December 2014 [Member]</link:label>
    <link:label xlink:label="bcrx_December2014Member-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents award date of December 2014.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_December2014Member" xlink:to="bcrx_December2014Member-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_August2013Member" xlink:label="bcrx_August2013Member" xlink:type="locator"/>
    <link:label xlink:label="bcrx_August2013Member-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">August 2013 [Member]</link:label>
    <link:label xlink:label="bcrx_August2013Member-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents award date of August 2013.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_August2013Member" xlink:to="bcrx_August2013Member-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeDomain" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeDomain" xlink:to="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_Vest25PercentEachYearUntilFullyVestedMember" xlink:label="bcrx_Vest25PercentEachYearUntilFullyVestedMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_Vest25PercentEachYearUntilFullyVestedMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vest 25% Each Year Until Fully Vested [Member]</link:label>
    <link:label xlink:label="bcrx_Vest25PercentEachYearUntilFullyVestedMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents vest 25% each year until fully vested.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_Vest25PercentEachYearUntilFullyVestedMember" xlink:to="bcrx_Vest25PercentEachYearUntilFullyVestedMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xlink:label="us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation, Stock Options, Activity [Table Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xlink:to="us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Upper Exercise Price Range (in dollars per share)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit" xlink:to="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_Vest50PercentEachYearUntilFullyVestedMember" xlink:label="bcrx_Vest50PercentEachYearUntilFullyVestedMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_Vest50PercentEachYearUntilFullyVestedMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vest 50% Each Year Until Fully Vested [Member]</link:label>
    <link:label xlink:label="bcrx_Vest50PercentEachYearUntilFullyVestedMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents vest 50% each year until fully vested.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_Vest50PercentEachYearUntilFullyVestedMember" xlink:to="bcrx_Vest50PercentEachYearUntilFullyVestedMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lower Exercise Price Range (in dollars per share)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit" xlink:to="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Exercise Price Range [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis" xlink:to="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeTaxReconciliationNondeductibleExpense" xlink:label="us-gaap_IncomeTaxReconciliationNondeductibleExpense" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncomeTaxReconciliationNondeductibleExpense-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Permanent items</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationNondeductibleExpense" xlink:to="us-gaap_IncomeTaxReconciliationNondeductibleExpense-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expected Dividend Yield</link:label>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Risk-Free Interest Rate</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expected Volatility</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DeferredRevenueCurrent" xlink:label="us-gaap_DeferredRevenueCurrent" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DeferredRevenueCurrent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred collaboration revenue</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenueCurrent" xlink:to="us-gaap_DeferredRevenueCurrent-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_BakerBrotherMember" xlink:label="bcrx_BakerBrotherMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_BakerBrotherMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Baker Brother [Member]</link:label>
    <link:label xlink:label="bcrx_BakerBrotherMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information related to the Affiliates Baker Bros.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_BakerBrotherMember" xlink:to="bcrx_BakerBrotherMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAndExercisableTableTextBlock" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAndExercisableTableTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAndExercisableTableTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable [Table Text Block]</link:label>
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    <link:label xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expected Life (Year)</link:label>
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    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_IderaExchangeRatio" xlink:label="bcrx_IderaExchangeRatio" xlink:type="locator"/>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CapitalLeaseObligationsCurrent" xlink:label="us-gaap_CapitalLeaseObligationsCurrent" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CapitalLeaseObligationsCurrent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lease financing obligation</link:label>
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    <link:label xlink:label="us-gaap_DerivativeContractTypeDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Contract [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeContractTypeDomain" xlink:to="us-gaap_DerivativeContractTypeDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_BiocrystMember" xlink:label="bcrx_BiocrystMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_BiocrystMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">BioCryst [Member]</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DerivativeInstrumentRiskAxis" xlink:label="us-gaap_DerivativeInstrumentRiskAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DerivativeInstrumentRiskAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Instrument [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeInstrumentRiskAxis" xlink:to="us-gaap_DerivativeInstrumentRiskAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_IderaMember" xlink:label="bcrx_IderaMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_IderaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Idera [Member]</link:label>
    <link:label xlink:label="bcrx_IderaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information related to the Idera entity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_IderaMember" xlink:to="bcrx_IderaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_MergerAgreementMember" xlink:label="bcrx_MergerAgreementMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_MergerAgreementMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Merger Agreement [Member]</link:label>
    <link:label xlink:label="bcrx_MergerAgreementMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information related to an Agreement and Plan of Merger.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_MergerAgreementMember" xlink:to="bcrx_MergerAgreementMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeTaxReconciliationTaxCreditsResearch" xlink:label="us-gaap_IncomeTaxReconciliationTaxCreditsResearch" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncomeTaxReconciliationTaxCreditsResearch-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_IncomeTaxReconciliationTaxCreditsResearch</link:label>
    <link:label xlink:label="us-gaap_IncomeTaxReconciliationTaxCreditsResearch-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Research and development tax credits</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationTaxCreditsResearch" xlink:to="us-gaap_IncomeTaxReconciliationTaxCreditsResearch-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_BioCrystExchangeRatio" xlink:label="bcrx_BioCrystExchangeRatio" xlink:type="locator"/>
    <link:label xlink:label="bcrx_BioCrystExchangeRatio-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_BioCrystExchangeRatio</link:label>
    <link:label xlink:label="bcrx_BioCrystExchangeRatio-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">BioCryst Exchange Ratio</link:label>
    <link:label xlink:label="bcrx_BioCrystExchangeRatio-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Ratio applied to the conversion of BioCryst common stock into common stock of Holdco.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_BioCrystExchangeRatio" xlink:to="bcrx_BioCrystExchangeRatio-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RoyaltyExpense" xlink:label="us-gaap_RoyaltyExpense" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_RoyaltyExpense-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Royalty</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RoyaltyExpense" xlink:to="us-gaap_RoyaltyExpense-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes" xlink:label="us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">State and local income taxes net of federal tax benefit</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes" xlink:to="us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate" xlink:label="us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income tax benefit at federal statutory rate</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate" xlink:to="us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:type="locator"/>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:to="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NotesPayableCurrent" xlink:label="us-gaap_NotesPayableCurrent" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_NotesPayableCurrent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-recourse notes payable</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NotesPayableCurrent" xlink:to="us-gaap_NotesPayableCurrent-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeTaxDisclosureTextBlock" xlink:label="us-gaap_IncomeTaxDisclosureTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncomeTaxDisclosureTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Disclosure [Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxDisclosureTextBlock" xlink:to="us-gaap_IncomeTaxDisclosureTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities" xlink:label="us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sales and maturities of investments</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities" xlink:to="us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue</link:label>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod</link:label>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Awards available, Restricted stock awards granted (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Awards available, Restricted stock awards cancelled (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LinesOfCreditCurrent" xlink:label="us-gaap_LinesOfCreditCurrent" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_LinesOfCreditCurrent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior credit facility</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LinesOfCreditCurrent" xlink:to="us-gaap_LinesOfCreditCurrent-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_ContingentUponEuMarketingApprovalMember" xlink:label="bcrx_ContingentUponEuMarketingApprovalMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_ContingentUponEuMarketingApprovalMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contingent upon EU Marketing Approval [Member]</link:label>
    <link:label xlink:label="bcrx_ContingentUponEuMarketingApprovalMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information about the contingent proceed which is upon EU marketing approval.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_ContingentUponEuMarketingApprovalMember" xlink:to="bcrx_ContingentUponEuMarketingApprovalMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice</link:label>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber</link:label>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1" xlink:type="locator"/>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" xlink:type="locator"/>
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    <link:label xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_TaxesPayableCurrent" xlink:label="us-gaap_TaxesPayableCurrent" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_TaxesPayableCurrent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_TaxesPayableCurrent</link:label>
    <link:label xlink:label="us-gaap_TaxesPayableCurrent-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Duties and taxes</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice</link:label>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Weighted average exercise price, ending balance (in dollars per share)</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock option awards granted (in dollars per share)</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock option awards forfeited (in dollars per share)</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableCurrent" xlink:to="us-gaap_AccountsPayableCurrent-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock option awards vested (in dollars per share)</link:label>
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    <link:label xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares</link:label>
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    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice</link:label>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Weighted average exercise price, beginning balance (in dollars per share)</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares</link:label>
    <link:label xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Stock option awards vested (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted average exercise price, stock option awards cancelled (in dollars per share)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted average exercise price, stock option awards granted (in dollars per share)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted average exercise price, stock option awards exercised (in dollars per share)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt" xlink:label="us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt</link:label>
    <link:label xlink:label="us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Purchases of investments</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt" xlink:to="us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OtherAccruedLiabilitiesCurrent" xlink:label="us-gaap_OtherAccruedLiabilitiesCurrent" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_OtherAccruedLiabilitiesCurrent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_OtherAccruedLiabilitiesCurrent</link:label>
    <link:label xlink:label="us-gaap_OtherAccruedLiabilitiesCurrent-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAccruedLiabilitiesCurrent" xlink:to="us-gaap_OtherAccruedLiabilitiesCurrent-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AccruedProfessionalFeesCurrent" xlink:label="us-gaap_AccruedProfessionalFeesCurrent" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AccruedProfessionalFeesCurrent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_AccruedProfessionalFeesCurrent</link:label>
    <link:label xlink:label="us-gaap_AccruedProfessionalFeesCurrent-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Professional fees</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedProfessionalFeesCurrent" xlink:to="us-gaap_AccruedProfessionalFeesCurrent-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber</link:label>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber</link:label>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Options outstanding, beginning balance (in shares)</link:label>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Options outstanding, ending balance (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_ExercisePriceRange01Member" xlink:label="bcrx_ExercisePriceRange01Member" xlink:type="locator"/>
    <link:label xlink:label="bcrx_ExercisePriceRange01Member-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Exercise Price Range 01 [Member]</link:label>
    <link:label xlink:label="bcrx_ExercisePriceRange01Member-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information pertaining to the first exercise range.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_ExercisePriceRange01Member" xlink:to="bcrx_ExercisePriceRange01Member-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_ExercisePriceRange03Member" xlink:label="bcrx_ExercisePriceRange03Member" xlink:type="locator"/>
    <link:label xlink:label="bcrx_ExercisePriceRange03Member-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Exercise Price Range 03 [Member]</link:label>
    <link:label xlink:label="bcrx_ExercisePriceRange03Member-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information pertaining to the third exercise range.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_ExercisePriceRange03Member" xlink:to="bcrx_ExercisePriceRange03Member-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod</link:label>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Options outstanding, stock option awards cancelled (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_ExercisePriceRange02Member" xlink:label="bcrx_ExercisePriceRange02Member" xlink:type="locator"/>
    <link:label xlink:label="bcrx_ExercisePriceRange02Member-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Exercise Price Range 02 [Member]</link:label>
    <link:label xlink:label="bcrx_ExercisePriceRange02Member-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information pertaining to the second exercise range.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_ExercisePriceRange02Member" xlink:to="bcrx_ExercisePriceRange02Member-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_ExercisePriceRange05Member" xlink:label="bcrx_ExercisePriceRange05Member" xlink:type="locator"/>
    <link:label xlink:label="bcrx_ExercisePriceRange05Member-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Exercise Price Range 05 [Member]</link:label>
    <link:label xlink:label="bcrx_ExercisePriceRange05Member-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information pertaining to the fifth exercise range.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_ExercisePriceRange05Member" xlink:to="bcrx_ExercisePriceRange05Member-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_ExercisePriceRange04Member" xlink:label="bcrx_ExercisePriceRange04Member" xlink:type="locator"/>
    <link:label xlink:label="bcrx_ExercisePriceRange04Member-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Exercise Price Range 04 [Member]</link:label>
    <link:label xlink:label="bcrx_ExercisePriceRange04Member-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information pertaining to the fourth exercise range.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_ExercisePriceRange04Member" xlink:to="bcrx_ExercisePriceRange04Member-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_ExercisePriceRange06Member" xlink:label="bcrx_ExercisePriceRange06Member" xlink:type="locator"/>
    <link:label xlink:label="bcrx_ExercisePriceRange06Member-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Exercise Price Range 06 [Member]</link:label>
    <link:label xlink:label="bcrx_ExercisePriceRange06Member-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information pertaining to the sixth exercise range.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_ExercisePriceRange06Member" xlink:to="bcrx_ExercisePriceRange06Member-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesPerEmployee" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesPerEmployee" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesPerEmployee-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesPerEmployee</link:label>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesPerEmployee-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Maximum Number of Shares Per Employee</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesPerEmployee" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesPerEmployee-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_IncomeTaxReconciliationIncomeTaxExpenseBenefitExpirationOfCarryForwards" xlink:label="bcrx_IncomeTaxReconciliationIncomeTaxExpenseBenefitExpirationOfCarryForwards" xlink:type="locator"/>
    <link:label xlink:label="bcrx_IncomeTaxReconciliationIncomeTaxExpenseBenefitExpirationOfCarryForwards-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expiration of attribute carryforwards</link:label>
    <link:label xlink:label="bcrx_IncomeTaxReconciliationIncomeTaxExpenseBenefitExpirationOfCarryForwards-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Income tax reconciliation income tax expense benefit expiration of carryforwards.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_IncomeTaxReconciliationIncomeTaxExpenseBenefitExpirationOfCarryForwards" xlink:to="bcrx_IncomeTaxReconciliationIncomeTaxExpenseBenefitExpirationOfCarryForwards-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AdvertisingExpense" xlink:label="us-gaap_AdvertisingExpense" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AdvertisingExpense-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_AdvertisingExpense</link:label>
    <link:label xlink:label="us-gaap_AdvertisingExpense-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Advertising Expense</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdvertisingExpense" xlink:to="us-gaap_AdvertisingExpense-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_UpfrontPaymentMember" xlink:label="bcrx_UpfrontPaymentMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_UpfrontPaymentMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Upfront Payment [Member]</link:label>
    <link:label xlink:label="bcrx_UpfrontPaymentMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information pertaining upfront payment.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_UpfrontPaymentMember" xlink:to="bcrx_UpfrontPaymentMember-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_UpfrontPaymentsReceivableAmount" xlink:label="bcrx_UpfrontPaymentsReceivableAmount" xlink:type="locator"/>
    <link:label xlink:label="bcrx_UpfrontPaymentsReceivableAmount-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_UpfrontPaymentsReceivableAmount</link:label>
    <link:label xlink:label="bcrx_UpfrontPaymentsReceivableAmount-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Upfront Payments Receivable Amount</link:label>
    <link:label xlink:label="bcrx_UpfrontPaymentsReceivableAmount-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents upfront payments receivable.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_UpfrontPaymentsReceivableAmount" xlink:to="bcrx_UpfrontPaymentsReceivableAmount-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant</link:label>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant</link:label>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Awards available, beginning balance (in shares)</link:label>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Awards available, ending balance (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount" xlink:label="us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount</link:label>
    <link:label xlink:label="us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Defined Contribution Plan, Employer Discretionary Contribution Amount</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount" xlink:to="us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_PotentialMilestonePaymentsReceivable" xlink:label="bcrx_PotentialMilestonePaymentsReceivable" xlink:type="locator"/>
    <link:label xlink:label="bcrx_PotentialMilestonePaymentsReceivable-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_PotentialMilestonePaymentsReceivable</link:label>
    <link:label xlink:label="bcrx_PotentialMilestonePaymentsReceivable-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Potential Milestone Payments Receivable</link:label>
    <link:label xlink:label="bcrx_PotentialMilestonePaymentsReceivable-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents potential milestone payments receivable based on possibility of future event payments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_PotentialMilestonePaymentsReceivable" xlink:to="bcrx_PotentialMilestonePaymentsReceivable-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">LIABILITIES AND STOCKHOLDERS&#8217; EQUITY</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="us-gaap_LiabilitiesAndStockholdersEquityAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_Assets" xlink:label="us-gaap_Assets" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_Assets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_Assets</link:label>
    <link:label xlink:label="us-gaap_Assets-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Assets" xlink:to="us-gaap_Assets-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromSaleOfFurnitureAndFixtures" xlink:label="us-gaap_ProceedsFromSaleOfFurnitureAndFixtures" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ProceedsFromSaleOfFurnitureAndFixtures-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from sale of property and equipment</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromSaleOfFurnitureAndFixtures" xlink:to="us-gaap_ProceedsFromSaleOfFurnitureAndFixtures-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncreaseDecreaseInRestrictedCash" xlink:label="us-gaap_IncreaseDecreaseInRestrictedCash" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncreaseDecreaseInRestrictedCash-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_IncreaseDecreaseInRestrictedCash</link:label>
    <link:label xlink:label="us-gaap_IncreaseDecreaseInRestrictedCash-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Change in restricted cash</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInRestrictedCash" xlink:to="us-gaap_IncreaseDecreaseInRestrictedCash-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Awards available, plan amendment (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized</link:label>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PaymentsToAcquireProductiveAssets" xlink:label="us-gaap_PaymentsToAcquireProductiveAssets" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_PaymentsToAcquireProductiveAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_PaymentsToAcquireProductiveAssets</link:label>
    <link:label xlink:label="us-gaap_PaymentsToAcquireProductiveAssets-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Acquisition of property and equipment</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireProductiveAssets" xlink:to="us-gaap_PaymentsToAcquireProductiveAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage</link:label>
    <link:label xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_GainLossOnDispositionOfAssets1" xlink:label="us-gaap_GainLossOnDispositionOfAssets1" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_GainLossOnDispositionOfAssets1-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_GainLossOnDispositionOfAssets1</link:label>
    <link:label xlink:label="us-gaap_GainLossOnDispositionOfAssets1-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">(Gain) loss on disposal of property and equipment</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainLossOnDispositionOfAssets1" xlink:to="us-gaap_GainLossOnDispositionOfAssets1-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1</link:label>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_LaboratoryEquipmentOfficeEquipmentAndSoftwareMember" xlink:label="bcrx_LaboratoryEquipmentOfficeEquipmentAndSoftwareMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_LaboratoryEquipmentOfficeEquipmentAndSoftwareMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Laboratory Equipment, Office Equipment and Software [Member]</link:label>
    <link:label xlink:label="bcrx_LaboratoryEquipmentOfficeEquipmentAndSoftwareMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information pertaining to laboratory equipment, office equipment and software.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_LaboratoryEquipmentOfficeEquipmentAndSoftwareMember" xlink:to="bcrx_LaboratoryEquipmentOfficeEquipmentAndSoftwareMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_VestingDomain" xlink:label="us-gaap_VestingDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_VestingDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vesting [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_VestingDomain" xlink:to="us-gaap_VestingDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="us-gaap_NetIncomeLoss" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_NetIncomeLoss-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net loss</link:label>
    <link:label xlink:label="us-gaap_NetIncomeLoss-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net loss</link:label>
    <link:label xlink:label="us-gaap_NetIncomeLoss-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net Loss</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PlanNameAxis" xlink:label="us-gaap_PlanNameAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_PlanNameAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Plan Name [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PlanNameAxis" xlink:to="us-gaap_PlanNameAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SellingGeneralAndAdministrativeExpense" xlink:label="us-gaap_SellingGeneralAndAdministrativeExpense" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SellingGeneralAndAdministrativeExpense-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Selling, general and administrative</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SellingGeneralAndAdministrativeExpense" xlink:to="us-gaap_SellingGeneralAndAdministrativeExpense-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtInstrumentTerm" xlink:label="us-gaap_DebtInstrumentTerm" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DebtInstrumentTerm-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_DebtInstrumentTerm</link:label>
    <link:label xlink:label="us-gaap_DebtInstrumentTerm-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument, Term</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentTerm" xlink:to="us-gaap_DebtInstrumentTerm-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_VestingAxis" xlink:label="us-gaap_VestingAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_VestingAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vesting [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_VestingAxis" xlink:to="us-gaap_VestingAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PlanNameDomain" xlink:label="us-gaap_PlanNameDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_PlanNameDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Plan Name [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PlanNameDomain" xlink:to="us-gaap_PlanNameDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized</link:label>
    <link:label xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:to="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_BirminghamResearchFacilityMember" xlink:label="bcrx_BirminghamResearchFacilityMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_BirminghamResearchFacilityMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Birmingham Research Facility [Member]</link:label>
    <link:label xlink:label="bcrx_BirminghamResearchFacilityMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information pertaining to the Birmingham Research Facility.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_BirminghamResearchFacilityMember" xlink:to="bcrx_BirminghamResearchFacilityMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PerformanceSharesMember" xlink:label="us-gaap_PerformanceSharesMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_PerformanceSharesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Performance Shares [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PerformanceSharesMember" xlink:to="us-gaap_PerformanceSharesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RestrictedStockUnitsRSUMember" xlink:label="us-gaap_RestrictedStockUnitsRSUMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_RestrictedStockUnitsRSUMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restricted Stock Units (RSUs) [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RestrictedStockUnitsRSUMember" xlink:to="us-gaap_RestrictedStockUnitsRSUMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_EmployeeStockOptionMember" xlink:label="us-gaap_EmployeeStockOptionMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_EmployeeStockOptionMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Employee Stock Option [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeStockOptionMember" xlink:to="us-gaap_EmployeeStockOptionMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xlink:label="us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xlink:to="us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ResearchAndDevelopmentExpense" xlink:label="us-gaap_ResearchAndDevelopmentExpense" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ResearchAndDevelopmentExpense-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Research and development</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ResearchAndDevelopmentExpense" xlink:to="us-gaap_ResearchAndDevelopmentExpense-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of Compensation Related Costs, Share-based Payments [Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:to="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InterestExpense" xlink:label="us-gaap_InterestExpense" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_InterestExpense-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_InterestExpense</link:label>
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    <link:label xlink:label="us-gaap_InterestExpense-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Interest expense</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpense" xlink:to="us-gaap_InterestExpense-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InvestmentTypeCategorizationMember" xlink:label="us-gaap_InvestmentTypeCategorizationMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_InvestmentTypeCategorizationMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentTypeCategorizationMember" xlink:to="us-gaap_InvestmentTypeCategorizationMember-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearTwo" xlink:label="bcrx_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearTwo" xlink:type="locator"/>
    <link:label xlink:label="bcrx_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearTwo-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearTwo</link:label>
    <link:label xlink:label="bcrx_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearTwo-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Expected to be Recognized Year Two</link:label>
    <link:label xlink:label="bcrx_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearTwo-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Employee service share based compensation nonvested awards compensation cost expected to be recognized year two.</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InvestmentTypeAxis" xlink:label="us-gaap_InvestmentTypeAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_InvestmentTypeAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Type [Axis]</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AmortizationOfFinancingCosts" xlink:label="us-gaap_AmortizationOfFinancingCosts" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AmortizationOfFinancingCosts-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization of debt issuance costs</link:label>
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    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearThree" xlink:label="bcrx_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearThree" xlink:type="locator"/>
    <link:label xlink:label="bcrx_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearThree-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearThree</link:label>
    <link:label xlink:label="bcrx_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearThree-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Expected to be Recognized Year Three</link:label>
    <link:label xlink:label="bcrx_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearThree-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Employee service share based compensation nonvested awards compensation cost expected to be recognized year three.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearThree" xlink:to="bcrx_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearThree-label" xlink:type="arc"/>
    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearFour" xlink:label="bcrx_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearFour" xlink:type="locator"/>
    <link:label xlink:label="bcrx_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearFour-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearFour</link:label>
    <link:label xlink:label="bcrx_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearFour-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Expected to be Recognized Year Four</link:label>
    <link:label xlink:label="bcrx_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearFour-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Employee service share based compensation nonvested awards compensation cost expected to be recognized year four.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bcrx_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearFour" xlink:to="bcrx_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearFour-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="us-gaap_PropertyPlantAndEquipmentNet" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_PropertyPlantAndEquipmentNet-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property and equipment, net</link:label>
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    <link:label xlink:label="bcrx_NumberOfMajorCustomers-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the number of major customers accounting for 10% or more of the specified concentration risk benchmark, which includes, but not limited to, sales revenue, accounts receivable, etc.</link:label>
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    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_ShareBasedCompensationArrangementByShareBasedPaymentAwardFirstVestingPeriodAfterGrantDate" xlink:label="bcrx_ShareBasedCompensationArrangementByShareBasedPaymentAwardFirstVestingPeriodAfterGrantDate" xlink:type="locator"/>
    <link:label xlink:label="bcrx_ShareBasedCompensationArrangementByShareBasedPaymentAwardFirstVestingPeriodAfterGrantDate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_ShareBasedCompensationArrangementByShareBasedPaymentAwardFirstVestingPeriodAfterGrantDate</link:label>
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    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_LeaseFinancingObligationNetOfCurrent" xlink:label="bcrx_LeaseFinancingObligationNetOfCurrent" xlink:type="locator"/>
    <link:label xlink:label="bcrx_LeaseFinancingObligationNetOfCurrent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">bcrx_LeaseFinancingObligationNetOfCurrent</link:label>
    <link:label xlink:label="bcrx_LeaseFinancingObligationNetOfCurrent-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lease Financing Obligation, Net of Current</link:label>
    <link:label xlink:label="bcrx_LeaseFinancingObligationNetOfCurrent-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lease Financing obligation as of the balance sheet date.</link:label>
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    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_ThreeCustomersMember" xlink:label="bcrx_ThreeCustomersMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_ThreeCustomersMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Three Customers [Member]</link:label>
    <link:label xlink:label="bcrx_ThreeCustomersMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information pertaining to the three specialty distributors as customers.</link:label>
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    <link:label xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment</link:label>
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    <link:label xlink:label="us-gaap_PropertyPlantAndEquipmentGross-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property and equipment</link:label>
    <link:label xlink:label="us-gaap_PropertyPlantAndEquipmentGross-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment, Gross</link:label>
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    <link:label xlink:label="us-gaap_DebtInstrumentAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument [Axis]</link:label>
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    <link:label xlink:label="us-gaap_DebtInstrumentNameDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Name [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentNameDomain" xlink:to="us-gaap_DebtInstrumentNameDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:label="us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DebtInstrumentBasisSpreadOnVariableRate1-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_DebtInstrumentBasisSpreadOnVariableRate1</link:label>
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    <link:label xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_DebtInstrumentInterestRateStatedPercentage</link:label>
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    <link:label xlink:label="us-gaap_TableTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes Tables</link:label>
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    <link:loc xlink:href="bcrx-20171231.xsd#bcrx_LongTermLiabilitiesMember" xlink:label="bcrx_LongTermLiabilitiesMember" xlink:type="locator"/>
    <link:label xlink:label="bcrx_LongTermLiabilitiesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long Term Liabilities [Member]</link:label>
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<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>14
<FILENAME>bcrx-20171231_pre.xml
<DESCRIPTION>XBRL PRESENTATION FILE
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<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6839003456">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Document And Entity Information - USD ($)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Jan. 31, 2018</div></th>
<th class="th"><div>Jun. 30, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">BIOCRYST PHARMACEUTICALS INC<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000882796<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">bcrx<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CurrentFiscalYearEndDate', window );">Current Fiscal Year End Date</a></td>
<td class="text">--12-31<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFilerCategory', window );">Entity Filer Category</a></td>
<td class="text">Accelerated Filer<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCurrentReportingStatus', window );">Entity Current Reporting Status</a></td>
<td class="text">Yes<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityVoluntaryFilers', window );">Entity Voluntary Filers</a></td>
<td class="text">No<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityWellKnownSeasonedIssuer', window );">Entity Well-known Seasoned Issuer</a></td>
<td class="text">No<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">98,606,110<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityPublicFloat', window );">Entity Public Float</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 440,626,219<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">10-K<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Dec. 31,  2017<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalYearFocus', window );">Document Fiscal Year Focus</a></td>
<td class="text">2017<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalPeriodFocus', window );">Document Fiscal Period Focus</a></td>
<td class="text">FY<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>If the value is true, then the document is an amendment to previously-filed/accepted document.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CurrentFiscalYearEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>End date of current fiscal year in the format --MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CurrentFiscalYearEndDate</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gMonthDayItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalPeriodFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalPeriodFocus</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalYearFocus</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gYearItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentInformationLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentInformationLineItems</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other".</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12b<br> -Subsection 1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCurrentReportingStatus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCurrentReportingStatus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFilerCategory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFilerCategory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:filerCategoryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityPublicFloat">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>State aggregate market value of voting and non-voting common equity held by non-affiliates computed by reference to price at which the common equity was last sold, or average bid and asked price of such common equity, as of the last business day of registrant's most recently completed second fiscal quarter. The public float should be reported on the cover page of the registrants form 10K.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityPublicFloat</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12b<br> -Subsection 1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityVoluntaryFilers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityVoluntaryFilers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityWellKnownSeasonedIssuer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityWellKnownSeasonedIssuer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>18
<FILENAME>R2.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6839486832">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Balance Sheets - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsAbstract', window );"><strong>ASSETS</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
<td class="nump">$ 50,282<span></span>
</td>
<td class="nump">$ 22,104<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue', window );">Restricted cash</a></td>
<td class="nump">3,286<span></span>
</td>
<td class="nump">1,546<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesDebtSecuritiesCurrent', window );">Investments</a></td>
<td class="nump">64,115<span></span>
</td>
<td class="nump">32,546<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetCurrent', window );">Receivables from collaborations</a></td>
<td class="nump">6,117<span></span>
</td>
<td class="nump">8,768<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryNet', window );">Inventory</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">500<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidExpenseAndOtherAssetsCurrent', window );">Prepaid expenses and other current assets</a></td>
<td class="nump">1,381<span></span>
</td>
<td class="nump">1,438<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredCostsCurrent', window );">Deferred collaboration expense</a></td>
<td class="nump">210<span></span>
</td>
<td class="nump">85<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrent', window );">Total current assets</a></td>
<td class="nump">125,391<span></span>
</td>
<td class="nump">66,987<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesDebtSecuritiesNoncurrent', window );">Investments</a></td>
<td class="nump">41,295<span></span>
</td>
<td class="nump">8,926<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property and equipment, net</a></td>
<td class="nump">9,546<span></span>
</td>
<td class="nump">9,922<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_DeferredCollaborationExpenseAssets', window );">Deferred collaboration expense</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">199<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssetsNoncurrent', window );">Other assets</a></td>
<td class="nump">2,027<span></span>
</td>
<td class="nump">3,813<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
<td class="nump">178,259<span></span>
</td>
<td class="nump">89,847<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquityAbstract', window );"><strong>LIABILITIES AND STOCKHOLDERS&#8217; EQUITY</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableCurrent', window );">Accounts payable</a></td>
<td class="nump">6,337<span></span>
</td>
<td class="nump">4,269<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedLiabilitiesCurrent', window );">Accrued expenses</a></td>
<td class="nump">12,699<span></span>
</td>
<td class="nump">10,836<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPayableCurrent', window );">Interest payable</a></td>
<td class="nump">12,095<span></span>
</td>
<td class="nump">8,990<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueCurrent', window );">Deferred collaboration revenue</a></td>
<td class="nump">8,484<span></span>
</td>
<td class="nump">2,022<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeaseObligationsCurrent', window );">Lease financing obligation</a></td>
<td class="nump">75<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LinesOfCreditCurrent', window );">Senior credit facility</a></td>
<td class="nump">6,464<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableCurrent', window );">Non-recourse notes payable</a></td>
<td class="nump">28,682<span></span>
</td>
<td class="nump">28,243<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrent', window );">Total current liabilities</a></td>
<td class="nump">74,836<span></span>
</td>
<td class="nump">54,360<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueNoncurrent', window );">Deferred collaboration revenue</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">8,184<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRentCreditNoncurrent', window );">Deferred rent</a></td>
<td class="nump">155<span></span>
</td>
<td class="nump">244<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_LeaseFinancingObligationNetOfCurrent', window );">Lease Financing Obligation, Net of Current</a></td>
<td class="nump">2,751<span></span>
</td>
<td class="nump">2,704<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCredit', window );">Long-term Line of Credit</a></td>
<td class="nump">16,750<span></span>
</td>
<td class="nump">22,777<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>Stockholders&#8217; equity:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockValue', window );">Preferred stock, $0.001 par value; shares authorized &#8212; 5,000; no shares outstanding</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockValue', window );">Common stock, $0.01 par value; shares authorized &#8212; 200,000; shares issued and outstanding &#8212; 98,411 in 2017 and 73,782 in 2016</a></td>
<td class="nump">984<span></span>
</td>
<td class="nump">738<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdditionalPaidInCapital', window );">Additional paid-in capital</a></td>
<td class="nump">714,869<span></span>
</td>
<td class="nump">566,913<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax', window );">Accumulated other comprehensive loss</a></td>
<td class="num">(243)<span></span>
</td>
<td class="num">(12)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Accumulated deficit</a></td>
<td class="num">(631,843)<span></span>
</td>
<td class="num">(566,061)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total stockholders&#8217; equity</a></td>
<td class="nump">83,767<span></span>
</td>
<td class="nump">1,578<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">Total liabilities and stockholders&#8217; equity</a></td>
<td class="nump">$ 178,259<span></span>
</td>
<td class="nump">$ 89,847<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_DeferredCollaborationExpenseAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents deferred collaboration expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_DeferredCollaborationExpenseAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_LeaseFinancingObligationNetOfCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Lease Financing obligation as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_LeaseFinancingObligationNetOfCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsPayableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsReceivableNetCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(4))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsReceivableNetCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccruedLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=84228862&amp;loc=d3e637-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -URI http://asc.fasb.org/extlink&amp;oid=84228862&amp;loc=d3e681-108580<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14A<br> -URI http://asc.fasb.org/extlink&amp;oid=84228862&amp;loc=SL7669686-108580<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdditionalPaidInCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30)(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdditionalPaidInCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(12))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(11))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6801-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AvailableForSaleSecuritiesDebtSecuritiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of investments in debt securities classified as available-for-sale, expected to be converted to cash, sold or exchanged within one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 25<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=75030427&amp;loc=d3e22054-111558<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=82896770&amp;loc=d3e26626-111562<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AvailableForSaleSecuritiesDebtSecuritiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AvailableForSaleSecuritiesDebtSecuritiesNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of debt securities categorized neither as held-to-maturity nor trading which are intended be sold or mature more than one year from the balance sheet date or operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 25<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=75030427&amp;loc=d3e22054-111558<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=82896770&amp;loc=d3e26626-111562<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AvailableForSaleSecuritiesDebtSecuritiesNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeaseObligationsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of capital lease obligation due within one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84164817&amp;loc=d3e45280-112737<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(19))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84164758&amp;loc=d3e45023-112735<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeaseObligationsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3044-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredCostsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of deferred costs capitalized at the end of the reporting period that are expected to be charged against earnings within one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredCostsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRentCreditNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For a classified balance sheet, the cumulative difference between the rental income or payments required by a lease agreement and the rental income or expense recognized on a straight-line basis, or other systematic and rational basis more representative of the time pattern in which use or benefit is granted or derived from the leased property, expected to be recognized in income or expense, by the lessor or lessee, respectively, more than one year after the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.26(c))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 25<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=77902458&amp;loc=d3e39927-112707<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredRentCreditNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRevenueCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 13.A.3(b).Q1(c))<br> -URI http://asc.fasb.org/extlink&amp;oid=65893310&amp;loc=d3e214044-122780<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6935-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 13.A.4(a).Q1)<br> -URI http://asc.fasb.org/extlink&amp;oid=65893310&amp;loc=d3e214044-122780<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 13.A.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=65893310&amp;loc=d3e214044-122780<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 13.A.3(b).Q2)<br> -URI http://asc.fasb.org/extlink&amp;oid=65893310&amp;loc=d3e214044-122780<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 13.A.3(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=65893310&amp;loc=d3e214044-122780<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 13.A.3(c).Q3)<br> -URI http://asc.fasb.org/extlink&amp;oid=65893310&amp;loc=d3e214044-122780<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredRevenueCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRevenueNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The noncurrent portion of deferred revenue amount as of balance sheet date. Deferred revenue is a liability related to a revenue producing activity for which revenue has not yet been recognized, and is not expected to be recognized in the next twelve months. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6935-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 13.A.3(c).Q3)<br> -URI http://asc.fasb.org/extlink&amp;oid=65893310&amp;loc=d3e214044-122780<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 13.A.4(a).Q1)<br> -URI http://asc.fasb.org/extlink&amp;oid=65893310&amp;loc=d3e214044-122780<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 13.A.3(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=65893310&amp;loc=d3e214044-122780<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 13.A.3(b).Q1(c))<br> -URI http://asc.fasb.org/extlink&amp;oid=65893310&amp;loc=d3e214044-122780<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 13.A.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=65893310&amp;loc=d3e214044-122780<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 13.A.3(b).Q2)<br> -URI http://asc.fasb.org/extlink&amp;oid=65893310&amp;loc=d3e214044-122780<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredRevenueNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestPayableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of [accrued] interest payable on all forms of debt, including trade payables, that has been incurred and is unpaid. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e7018-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6935-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestPayableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.6(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 35<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=68049868&amp;loc=d3e3927-108312<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAndStockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(23))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(25))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(32))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesAndStockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAndStockholdersEquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesAndStockholdersEquityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCredit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCredit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LinesOfCreditCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying value as of the balance sheet date of the current portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(13))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(19))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LinesOfCreditCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesPayableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying values as of the balance sheet date of the portions of long-term notes payable due within one year or the operating cycle if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19,20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesPayableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAssetsNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of noncurrent assets classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAssetsNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PrepaidExpenseAndOtherAssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(8))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(7))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PrepaidExpenseAndOtherAssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(13))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(14))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(8))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash and cash equivalents restricted as to withdrawal or usage, classified as current. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=SL98516268-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3044-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RetainedEarningsAccumulatedDeficit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cumulative amount of the reporting entity's undistributed earnings or deficit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(23)(a)(4))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30)(a)(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RetainedEarningsAccumulatedDeficit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB Topic 4.E)<br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(31))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6839055216">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Balance Sheets (Parentheticals) - $ / shares<br> shares in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockParOrStatedValuePerShare', window );">Preferred stock, par value (in dollars per share)</a></td>
<td class="nump">$ 0.001<span></span>
</td>
<td class="nump">$ 0.001<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesAuthorized', window );">Preferred stock, shares authorized (in shares)</a></td>
<td class="nump">5,000<span></span>
</td>
<td class="nump">5,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesIssued', window );">Preferred stock, shares issued (in shares)</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesOutstanding', window );">Preferred stock, shares outstanding (in shares)</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockParOrStatedValuePerShare', window );">Common stock, par value (in dollars per share)</a></td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesAuthorized', window );">Common stock, shares authorized (in shares)</a></td>
<td class="nump">200,000<span></span>
</td>
<td class="nump">200,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Common stock, shares issued (in shares)</a></td>
<td class="nump">98,411<span></span>
</td>
<td class="nump">73,782<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Common stock, shares outstanding (in shares)</a></td>
<td class="nump">98,411<span></span>
</td>
<td class="nump">73,782<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of common stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of common shares permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84159872&amp;loc=d3e21463-112644<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6838960512">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Comprehensive Loss - USD ($)<br> shares in Thousands, $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenuesAbstract', window );"><strong>Revenues</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueGoodsNet', window );">Product sales, net</a></td>
<td class="nump">$ 1,501<span></span>
</td>
<td class="nump">$ 2,269<span></span>
</td>
<td class="nump">$ 6,291<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RoyaltyRevenue', window );">Royalty revenue</a></td>
<td class="nump">10,543<span></span>
</td>
<td class="nump">9,682<span></span>
</td>
<td class="nump">2,386<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_CollaborativeAndOtherResearchAndDevelopment', window );">Collaborative and other research and development</a></td>
<td class="nump">13,142<span></span>
</td>
<td class="nump">14,402<span></span>
</td>
<td class="nump">39,580<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueNet', window );">Total revenues</a></td>
<td class="nump">25,186<span></span>
</td>
<td class="nump">26,353<span></span>
</td>
<td class="nump">48,257<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostsAndExpensesAbstract', window );"><strong>Expenses</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostOfGoodsSold', window );">Cost of products sold</a></td>
<td class="nump">1,142<span></span>
</td>
<td class="nump">2,297<span></span>
</td>
<td class="nump">1,368<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ResearchAndDevelopmentExpense', window );">Research and development</a></td>
<td class="nump">66,962<span></span>
</td>
<td class="nump">61,008<span></span>
</td>
<td class="nump">72,758<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SellingGeneralAndAdministrativeExpense', window );">Selling, general and administrative</a></td>
<td class="nump">13,933<span></span>
</td>
<td class="nump">11,253<span></span>
</td>
<td class="nump">13,047<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RoyaltyExpense', window );">Royalty</a></td>
<td class="nump">560<span></span>
</td>
<td class="nump">402<span></span>
</td>
<td class="nump">528<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostsAndExpenses', window );">Total operating expenses</a></td>
<td class="nump">82,597<span></span>
</td>
<td class="nump">74,960<span></span>
</td>
<td class="nump">87,701<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Loss from operations</a></td>
<td class="num">(57,411)<span></span>
</td>
<td class="num">(48,607)<span></span>
</td>
<td class="num">(39,444)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestAndOtherIncome', window );">Interest and other income</a></td>
<td class="nump">1,015<span></span>
</td>
<td class="nump">793<span></span>
</td>
<td class="nump">535<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Interest expense</a></td>
<td class="num">(8,565)<span></span>
</td>
<td class="num">(6,487)<span></span>
</td>
<td class="num">(5,200)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstruments', window );">(Loss) gain on foreign currency derivative</a></td>
<td class="num">(821)<span></span>
</td>
<td class="num">(843)<span></span>
</td>
<td class="nump">1,090<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net loss</a></td>
<td class="num">$ (65,782)<span></span>
</td>
<td class="num">$ (55,144)<span></span>
</td>
<td class="num">$ (43,019)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasicAndDiluted', window );">Basic and diluted net loss per common share (in dollars per share)</a></td>
<td class="num">$ (0.78)<span></span>
</td>
<td class="num">$ (0.75)<span></span>
</td>
<td class="num">$ (0.59)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Weighted average shares outstanding (in shares)</a></td>
<td class="nump">84,451<span></span>
</td>
<td class="nump">73,699<span></span>
</td>
<td class="nump">72,901<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax', window );">Unrealized (loss) gain on available for sale investments</a></td>
<td class="num">$ (231)<span></span>
</td>
<td class="nump">$ 194<span></span>
</td>
<td class="num">$ (76)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTax', window );">Comprehensive loss</a></td>
<td class="num">$ (66,013)<span></span>
</td>
<td class="num">$ (54,950)<span></span>
</td>
<td class="num">$ (43,095)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_CollaborativeAndOtherResearchAndDevelopment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Collaborative and other research and development during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_CollaborativeAndOtherResearchAndDevelopment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ComprehensiveIncomeNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=84228862&amp;loc=d3e557-108580<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ComprehensiveIncomeNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostOfGoodsSold">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total costs related to goods produced and sold during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.2(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CostOfGoodsSold</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostsAndExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total costs of sales and operating expenses for the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03)<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CostsAndExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostsAndExpensesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CostsAndExpensesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasicAndDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements.  Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period.  Diluted earnings per share includes the amount of net income or 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.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasicAndDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstruments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of gain (loss) recognized in earnings in the period from the increase (decrease) in fair value of foreign currency derivatives not designated as hedging instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4C<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=84234895&amp;loc=SL5624171-113959<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4A<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84234895&amp;loc=SL5618551-113959<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnForeignCurrencyDerivativeInstrumentsNotDesignatedAsHedgingInstruments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestAndOtherIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of interest income and other income recognized during the period. Included in this element is interest derived from investments in debt securities, cash and cash equivalents, and other investments which reflect the time value of money or transactions in which the payments are for the use or forbearance of money and other income from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestAndOtherIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the cost of borrowed funds accounted for as interest expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=64930785&amp;loc=d3e28555-108399<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(18))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net result for the period of deducting operating expenses from operating revenues.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax, before reclassification adjustments, of unrealized holding gain (loss) on available-for-sale securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10A<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=84228862&amp;loc=SL7669646-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=84228862&amp;loc=d3e637-108580<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ResearchAndDevelopmentExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 730<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6420194&amp;loc=d3e21568-108373<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 985<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6501960&amp;loc=d3e128462-111756<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ResearchAndDevelopmentExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenuesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenuesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RoyaltyExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of expense related to royalty payments under a contractual arrangement such as payment for mineral and drilling rights and use of technology or intellectual property.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RoyaltyExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RoyaltyRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Revenue earned during the period from the leasing or otherwise lending to a third party the entity's rights or title to certain property. Royalty revenue is derived from a percentage or stated amount of sales proceeds or revenue generated by the third party using the entity's property. Examples of property from which royalties may be derived include patents and oil and mineral rights.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1(e))<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RoyaltyRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SalesRevenueGoodsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate revenue during the period from the sale of goods in the normal course of business, after deducting returns, allowances and discounts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SalesRevenueGoodsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SalesRevenueNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SalesRevenueNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SellingGeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&amp;loc=d3e20235-122688<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 30<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=68048583&amp;loc=d3e3636-108311<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SellingGeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 16<br> -URI http://asc.fasb.org/extlink&amp;oid=96947427&amp;loc=d3e1505-109256<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6838876960">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Cash Flows - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net loss</a></td>
<td class="num">$ (65,782)<span></span>
</td>
<td class="num">$ (55,144)<span></span>
</td>
<td class="num">$ (43,019)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net loss to net cash used in operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationDepletionAndAmortization', window );">Depreciation, amortization, and impairment</a></td>
<td class="nump">704<span></span>
</td>
<td class="nump">483<span></span>
</td>
<td class="nump">180<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnDispositionOfAssets1', window );">(Gain) loss on disposal of property and equipment</a></td>
<td class="num">(12)<span></span>
</td>
<td class="nump">17<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Stock-based compensation expense</a></td>
<td class="nump">12,621<span></span>
</td>
<td class="nump">8,487<span></span>
</td>
<td class="nump">9,705<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfFinancingCosts', window );">Amortization of debt issuance costs</a></td>
<td class="nump">876<span></span>
</td>
<td class="nump">558<span></span>
</td>
<td class="nump">439<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_AmortizationOfDiscountAndPremiumOnInvestments', window );">Amortization of premium/discount on investments</a></td>
<td class="nump">157<span></span>
</td>
<td class="nump">523<span></span>
</td>
<td class="nump">570<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInDerivativeAssets', window );">Change in fair value of foreign currency derivative</a></td>
<td class="nump">966<span></span>
</td>
<td class="num">(811)<span></span>
</td>
<td class="nump">564<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract', window );"><strong>Changes in operating assets and liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInReceivables', window );">Receivables</a></td>
<td class="nump">2,651<span></span>
</td>
<td class="num">(2,525)<span></span>
</td>
<td class="nump">3,247<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInInventories', window );">Inventory</a></td>
<td class="nump">500<span></span>
</td>
<td class="nump">1,112<span></span>
</td>
<td class="num">(929)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets', window );">Prepaid expenses and other assets</a></td>
<td class="nump">877<span></span>
</td>
<td class="nump">3,702<span></span>
</td>
<td class="nump">637<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_DeferredCollaborationExpenseChangesInOperatingAssetsAndLiabilities', window );">Deferred collaboration expense</a></td>
<td class="nump">74<span></span>
</td>
<td class="nump">71<span></span>
</td>
<td class="num">(102)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsPayable', window );">Accounts payable and accrued expenses</a></td>
<td class="nump">3,842<span></span>
</td>
<td class="num">(10,524)<span></span>
</td>
<td class="nump">13,676<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInInterestPayableNet', window );">Interest payable</a></td>
<td class="nump">3,105<span></span>
</td>
<td class="nump">2,244<span></span>
</td>
<td class="nump">717<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInDeferredRevenue', window );">Deferred revenue</a></td>
<td class="num">(1,722)<span></span>
</td>
<td class="num">(1,631)<span></span>
</td>
<td class="nump">1,199<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivities', window );">Net cash used in operating activities:</a></td>
<td class="num">(41,143)<span></span>
</td>
<td class="num">(53,438)<span></span>
</td>
<td class="num">(13,116)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract', window );"><strong>Investing activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireProductiveAssets', window );">Acquisition of property and equipment</a></td>
<td class="num">(328)<span></span>
</td>
<td class="num">(5,277)<span></span>
</td>
<td class="num">(5,122)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromSaleOfFurnitureAndFixtures', window );">Proceeds from sale of property and equipment</a></td>
<td class="nump">12<span></span>
</td>
<td class="nump">4<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInRestrictedCash', window );">Change in restricted cash</a></td>
<td class="num">(1,740)<span></span>
</td>
<td class="nump">66<span></span>
</td>
<td class="num">(1,462)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt', window );">Purchases of investments</a></td>
<td class="num">(107,787)<span></span>
</td>
<td class="num">(14,106)<span></span>
</td>
<td class="num">(53,830)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities', window );">Sales and maturities of investments</a></td>
<td class="nump">43,461<span></span>
</td>
<td class="nump">42,652<span></span>
</td>
<td class="nump">42,410<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivities', window );">Net cash (used in) provided by investing activities:</a></td>
<td class="num">(66,382)<span></span>
</td>
<td class="nump">23,339<span></span>
</td>
<td class="num">(18,004)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>Financing activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfCommonStock', window );">Sale of common stock, net</a></td>
<td class="nump">134,000<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromStockOptionsExercised', window );">Net proceeds from common stock issued under stock-based compensation plans</a></td>
<td class="nump">1,581<span></span>
</td>
<td class="nump">317<span></span>
</td>
<td class="nump">5,479<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLinesOfCredit', window );">Proceeds from senior credit facility</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">22,658<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_IncreaseDecreaseInFinancingLeaseObligations', window );">Increase in lease financing obligation</a></td>
<td class="nump">122<span></span>
</td>
<td class="nump">329<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivities', window );">Net cash provided by financing activities:</a></td>
<td class="nump">135,703<span></span>
</td>
<td class="nump">23,304<span></span>
</td>
<td class="nump">5,479<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease', window );">Increase (decrease) in cash and cash equivalents</a></td>
<td class="nump">28,178<span></span>
</td>
<td class="num">(6,795)<span></span>
</td>
<td class="num">(25,641)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents at beginning of year</a></td>
<td class="nump">22,104<span></span>
</td>
<td class="nump">28,899<span></span>
</td>
<td class="nump">54,540<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents at end of year</a></td>
<td class="nump">$ 50,282<span></span>
</td>
<td class="nump">$ 22,104<span></span>
</td>
<td class="nump">$ 28,899<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_AmortizationOfDiscountAndPremiumOnInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization expense attributable to the discount and premium on investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_AmortizationOfDiscountAndPremiumOnInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_DeferredCollaborationExpenseChangesInOperatingAssetsAndLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents deferred collaboration expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_DeferredCollaborationExpenseChangesInOperatingAssetsAndLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_IncreaseDecreaseInFinancingLeaseObligations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the period for financing lease obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_IncreaseDecreaseInFinancingLeaseObligations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfFinancingCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization expense attributable to debt issuance costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=64930785&amp;loc=d3e28555-108399<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(8))<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&amp;loc=d3e20235-122688<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(8))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AmortizationOfFinancingCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3044-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 230<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=98513438&amp;loc=d3e33268-110906<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationDepletionAndAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepreciationDepletionAndAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnDispositionOfAssets1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of gain (loss) on sale or disposal of assets, including but not limited to property plant and equipment, intangible assets and equity in securities of subsidiaries or equity method investee.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=68055307&amp;loc=d3e2443-110228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnDispositionOfAssets1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInDeferredRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period, excluding the portion taken into income, in the liability reflecting revenue yet to be earned for which cash or other forms of consideration was received or recorded as a receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInDeferredRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInDerivativeAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the period in the carrying value of derivative instruments reported as assets that are due to be disposed of within one year (or the normal operating cycle, if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInDerivativeAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInInterestPayableNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in interest payable, which represents the amount owed to note holders, bond holders, and other parties for interest earned on loans or credit extended to the reporting entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInInterestPayableNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInInventories">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInInventories</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOperatingCapitalAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in prepaid expenses, and assets classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the total amount due within one year (or one operating cycle) from all parties, associated with underlying transactions that are classified as operating activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInRestrictedCash">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as investing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3213-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3179-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInRestrictedCash</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 26<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3574-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 26<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3574-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(18))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow to acquire debt securities classified as available-for-sale securities, because they are not classified as either held-to-maturity securities or trading securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3213-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=82896770&amp;loc=d3e26853-111562<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireProductiveAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for purchases of and capital improvements on property, plant and equipment (capital expenditures), software, and other intangible assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquireProductiveAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOfCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the additional capital contribution to the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3255-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromIssuanceOfCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromLinesOfCredit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow from contractual arrangement with the lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3255-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(f))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromLinesOfCredit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow associated with the sale or maturity (principal being due) of securities not classified as either held-to-maturity securities or trading securities which are classified as available-for-sale securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -Subparagraph (a),(b)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3179-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=82896770&amp;loc=d3e26853-111562<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromSaleOfFurnitureAndFixtures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from sale of furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3179-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromSaleOfFurnitureAndFixtures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromStockOptionsExercised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow from exercise of stock options granted under share-based compensation arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3255-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=SL79508275-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromStockOptionsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6840229200">
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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Statements of Stockholders' Equity (Deficit) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Common Stock [Member]</div></th>
<th class="th"><div>Additional Paid-in Capital [Member]</div></th>
<th class="th"><div>AOCI Attributable to Parent [Member]</div></th>
<th class="th"><div>Retained Earnings [Member]</div></th>
<th class="th"><div>Total</div></th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at Dec. 31, 2014</a></td>
<td class="nump">$ 720<span></span>
</td>
<td class="nump">$ 542,943<span></span>
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<td class="num">$ (130)<span></span>
</td>
<td class="num">$ (467,898)<span></span>
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<td class="nump">$ 75,635<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(43,019)<span></span>
</td>
<td class="num">(43,019)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTax', window );">Other comprehensive income (loss)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(76)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(76)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Exercise of stock options</a></td>
<td class="nump">14<span></span>
</td>
<td class="nump">5,110<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,124<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueEmployeeStockPurchasePlan', window );">Employee stock purchase plan sales</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">355<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">355<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Stock-based compensation expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,705<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,705<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at Dec. 31, 2015</a></td>
<td class="nump">734<span></span>
</td>
<td class="nump">558,113<span></span>
</td>
<td class="num">(206)<span></span>
</td>
<td class="num">(510,917)<span></span>
</td>
<td class="nump">47,724<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(55,144)<span></span>
</td>
<td class="num">(55,144)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTax', window );">Other comprehensive income (loss)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">194<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">194<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Exercise of stock options</a></td>
<td class="nump">3<span></span>
</td>
<td class="num">(15)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(12)<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueEmployeeStockPurchasePlan', window );">Employee stock purchase plan sales</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">328<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">329<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Stock-based compensation expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,487<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,487<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at Dec. 31, 2016</a></td>
<td class="nump">738<span></span>
</td>
<td class="nump">566,913<span></span>
</td>
<td class="num">(12)<span></span>
</td>
<td class="num">(566,061)<span></span>
</td>
<td class="nump">1,578<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(65,782)<span></span>
</td>
<td class="num">(65,782)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTax', window );">Other comprehensive income (loss)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(231)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(231)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Exercise of stock options</a></td>
<td class="nump">6<span></span>
</td>
<td class="nump">1,230<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">1,236<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueEmployeeStockPurchasePlan', window );">Employee stock purchase plan sales</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">344<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">345<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Stock-based compensation expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,621<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,621<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueNewIssues', window );">Issuance of common stock</a></td>
<td class="nump">239<span></span>
</td>
<td class="nump">133,761<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">134,000<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at Dec. 31, 2017</a></td>
<td class="nump">$ 984<span></span>
</td>
<td class="nump">$ 714,869<span></span>
</td>
<td class="num">$ (243)<span></span>
</td>
<td class="num">$ (631,843)<span></span>
</td>
<td class="nump">$ 83,767<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase to additional paid-in capital (APIC) from recognition of equity-based compensation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 35<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=79507207&amp;loc=d3e4534-113899<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5047-113901<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 20<br> -Section 55<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=96864182&amp;loc=d3e11149-113907<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 20<br> -Section 55<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=96864182&amp;loc=d3e11178-113907<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(18))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeLossNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax and reclassification adjustments of other comprehensive income (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84159872&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -URI http://asc.fasb.org/extlink&amp;oid=84228862&amp;loc=SL7669619-108580<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -URI http://asc.fasb.org/extlink&amp;oid=84228862&amp;loc=SL7669625-108580<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 55<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=84158357&amp;loc=d3e1436-108581<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueEmployeeStockPurchasePlan">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate change in value for stock issued during the period as a result of employee stock purchase plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84159872&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueEmployeeStockPurchasePlan</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueNewIssues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84159872&amp;loc=d3e21463-112644<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueNewIssues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value of stock issued as a result of the exercise of stock options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84159872&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB Topic 4.E)<br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(31))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6817343264">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Stockholders' Equity (Deficit) (Parentheticals) - shares<br> shares in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
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<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
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<td class="text">&#160;<span></span>
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<td class="nump">1,359<span></span>
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<td class="nump">75<span></span>
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<td class="nump">41<span></span>
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<td class="nump">23,925<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares issued during the period as a result of an employee stock purchase plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84159872&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of new stock issued during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84159872&amp;loc=d3e21463-112644<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of share options (or share units) exercised during the current period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84159872&amp;loc=d3e21463-112644<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830167312">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 1 - Significant Accounting Policies and Concentrations of Risk<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureTextBlockAbstract', window );"><strong>Notes to Financial Statements</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAccountingPoliciesTextBlock', window );">Significant Accounting Policies [Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-weight: bold;">Note&nbsp;<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div>&nbsp;&#x2014; Significant Accounting Policies and Concentrations of Risk</div></div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">The Company</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">BioCryst Pharmaceuticals, Inc. (the &#x201c;Company&#x201d;) is a biotechnology company that designs, optimizes and develops novel small molecule drugs that block key enzymes involved in the pathogenesis of diseases. The Company focuses on oral treatments for rare diseases in which significant unmet medical needs exist and that align with its capabilities and expertise. The Company was incorporated in Delaware in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1986</div> and its headquarters is located in Durham, North Carolina. The Company integrates the disciplines of biology, crystallography, medicinal chemistry and computer modeling to discover and develop small molecule pharmaceuticals through the process known as structure-guided drug design. BioCryst has incurred losses and negative cash flows from operations since inception.&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">With the funds available at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div>the Company believes these resources will be sufficient to fund its operations at least through the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div> quarter of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2019.</div> The Company has sustained operating losses for the majority of its corporate history and expects that its <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018</div> expenses will exceed its <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018</div> revenues. The Company expects to continue to incur operating losses and negative cash flows until revenues reach a level sufficient to support ongoing operations. Accordingly, its planned operations raise doubt about its ability to continue as a going concern beyond the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div> quarter of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2019.</div> The Company&#x2019;s liquidity needs will be largely determined by the success of operations in regards to the progression of its product candidates in the future. The Company also <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>consider other plans to fund operations beyond the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div> quarter of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2019</div> including: (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div>)&nbsp;securing or increasing U.S. Government funding of its programs, including obtaining procurement contracts; (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div>)&nbsp;out-licensing rights to certain of its products or product candidates, pursuant to which the Company would receive cash milestones; (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div>)&nbsp;raising additional capital through equity or debt financings or from other sources; (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4</div>)&nbsp;obtaining additional product candidate regulatory approvals, which would generate revenue, milestones and cash flow; (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div>)&nbsp;reducing spending on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> or more research and development programs, including by discontinuing development; and/or (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6</div>)&nbsp;restructuring operations to change its overhead structure. The Company <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>issue securities, including common stock, preferred stock, depositary shares, stock purchase contracts, warrants and units, through private placement transactions or registered public offerings in the future. The Company&#x2019;s future liquidity needs, and ability to address those needs, will largely be determined by the success of its product candidates and key development and regulatory events and its decisions in the future.</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Basis of Presentation</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, JPR Royalty Sub LLC (&#x201c;Royalty Sub&#x201d;) and MDCP, LLC (&#x201c;MDCP&#x201d;). Both subsidiaries were formed to facilitate financing transactions for the Company. Royalty Sub was formed in connection with a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$30,000</div>&nbsp;financing transaction the Company completed on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2011.</div> See Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,</div> Royalty Monetization, for a further description of this transaction. MDCP was formed in connection with a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$23,000</div> Senior Credit Facility that the Company closed on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 23, 2016. </div>See Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,</div> Senior Credit Facility, for a further description of this transaction. All intercompany transactions and balances have been eliminated.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company&#x2019;s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (&#x201c;U.S. GAAP&#x201d;). Such consolidated financial statements reflect all adjustments that are, in management&#x2019;s opinion, necessary to present fairly, in all material respects, the Company&#x2019;s consolidated financial position, results of operations, and cash flows. There were <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> adjustments other than normal recurring adjustments.</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Cash and Cash Equivalents</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company generally considers cash equivalents to be all cash held in commercial checking accounts, certificates of deposit, money market accounts or investments in debt instruments with maturities of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> months or less at the time of purchase. The carrying value of cash and cash equivalents approximates fair value due to the short-term nature of these items.</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Restricted Cash</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Restricted cash as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 </div>reflects <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1,876</div> in royalty revenue paid by Shionogi&nbsp;&amp; Co., Ltd. (&#x201c;Shionogi&#x201d;) designated for interest on the PhaRMA Notes (defined in Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div>) and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1,410</div> the Company is required to maintain as collateral for a letter of credit associated with the lease execution and build-out of its new Birmingham research facilities.&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Investments</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company invests in high credit quality investments in accordance with its investment policy, which is designed to minimize the possibility of loss. The objective of the Company&#x2019;s investment policy is to ensure the safety and preservation of invested funds, as well as maintaining liquidity sufficient to meet cash flow requirements. The Company places its excess cash with high credit quality financial institutions, commercial companies, and government agencies in order to limit the amount of its credit exposure. In accordance with its policy, the Company is able to invest in marketable debt securities that <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>consist of U.S. Government and government agency securities, money market and mutual fund investments, municipal and corporate notes and bonds, commercial paper and asset or mortgage-backed securities, among others. The Company&#x2019;s investment policy requires it to purchase high-quality marketable securities with a maximum individual maturity of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> years and requires an average portfolio maturity of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> more than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18</div> months. Some of the securities the Company invests in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>have market risk. This means that a change in prevailing interest rates <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>cause the principal amount of the investment to fluctuate. To minimize this risk, the Company schedules its investments with maturities that coincide with expected cash flow needs, thus avoiding the need to redeem an investment prior to its maturity date. Accordingly, the Company does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> believe it has a material exposure to interest rate risk arising from its investments. Generally, the Company&#x2019;s investments are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> collateralized. The Company has <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> realized any significant losses from its investments.</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</div> <!-- Field: Page; Sequence: 61; Value: 60 -->   <!-- Field: /Page --> <div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company classifies all of its investments as available-for-sale. Unrealized gains and losses on investments are recognized in comprehensive loss, unless an unrealized loss is considered to be other than temporary, in which case the unrealized loss is charged to operations. The Company periodically reviews its investments for other than temporary declines in fair value below cost basis and whenever events or changes in circumstances indicate that the carrying amount of an asset <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> be recoverable. The Company believes the individual unrealized losses represent temporary declines primarily resulting from interest rate changes. Realized gains and losses are reflected in interest and other income in the Consolidated Statements of Comprehensive Loss and are determined using the specific identification method with transactions recorded on a settlement date basis. Investments with original maturities at date of purchase beyond <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> months and which mature at or less than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12</div> months from the balance sheet date are classified as current. Investments with a maturity beyond <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12</div> months from the balance sheet date are classified as long-term. At <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div>the Company believes that the cost of its investments is recoverable in all material respects.&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The following tables summarize the fair value of the Company&#x2019;s investments by type. The estimated fair values of the Company&#x2019;s fixed income investments are classified as Level <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div> in the fair value hierarchy as defined in U.S. GAAP. These valuations are based on observable direct and indirect inputs, primarily quoted prices of similar, but <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> identical, instruments in active markets or quoted prices for identical or similar instruments in markets that are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> active. These fair values are obtained from independent pricing services which utilize Level <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div> inputs.</div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="19" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2017</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amortized<br /> Cost</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Accrued<br /> Interest</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Gross<br /> Unrealized<br /> Gains</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Gross<br /> Unrealized<br /> Losses</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Estimated<br /> Fair Value</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%; font-size: 10pt; text-align: left; text-indent: -10pt; padding-left: 10pt">Obligations of U.S. Government and its agencies</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">60,121</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">177</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(122</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">60,176</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Corporate debt securities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">34,021</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">203</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(108</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">34,116</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Certificates of deposit</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,099</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">32</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(14</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,118</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Total investments</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">105,241</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">412</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(244</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">105,410</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="19" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2016</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amortized<br /> Cost</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Accrued<br /> Interest</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Gross<br /> Unrealized<br /> Gains</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Gross<br /> Unrealized<br /> Losses</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Estimated<br /> Fair Value</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%; font-size: 10pt; text-align: left; text-indent: -10pt; padding-left: 10pt">Obligations of U.S. Government and its agencies</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20,266</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">34</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20,298</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Corporate debt securities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,179</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(8</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,199</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Certificates of deposit</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14,962</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(11</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14,975</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Total investments</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">41,407</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">77</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(23</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">41,472</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The following table summarizes the scheduled maturity for the Company&#x2019;s investments at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016.</div></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 67%; font-size: 10pt; text-align: left">Maturing in one year or less</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">64,115</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 2%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">32,546</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Maturing after one year through two years</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">34,257</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,926</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Maturing after two years</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,038</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Total investments</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">105,410</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">41,472</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> </div> <!-- Field: Page; Sequence: 62; Value: 60 -->   <!-- Field: /Page --> <div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Receivable from Collaborations</div></div> &nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Receivables from collaborations are recorded for amounts due to the Company related to reimbursable research and development costs from the U.S. Department of Health and Human Services, royalty receivables from Shionogi, Green Cross Corporation (&#x201c;Green Cross&#x201d;), Mundipharma International Holdings Limited (&#x201c;Mundipharma&#x201d;) and Seqirus UK Limited (&#x201c;SUL&#x201d;), and product sales to SUL. These receivables are evaluated to determine if any reserve or allowance should be established at each reporting date. At <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> the Company had the following receivables.</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December&nbsp;31, 2017</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Billed</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Unbilled</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; font-size: 10pt; text-align: left">U.S. Department of Health and Human Services</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">42</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,020</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,062</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Shionogi&nbsp;&amp; Co. Ltd.</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,600</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,600</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Green Cross Corporation</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,388</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,416</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Mundipharma International Holdings Limited</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">47</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">47</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Seqirus UK Limited</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">825</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">167</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">992</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Total receivables</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,902</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,215</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,117</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December&nbsp;31, 2016</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Billed</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Unbilled</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; font-size: 10pt; text-align: left">U.S. Department of Health and Human Services</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,495</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,495</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Shionogi&nbsp;&amp; Co. Ltd.</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,451</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,451</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Green Cross Corporation</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">686</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">686</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Seqirus UK Limited</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">957</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">179</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,136</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Total receivables</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,094</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,674</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,768</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Monthly invoices are submitted to the U.S. Department of Health and Human Services related to reimbursable research and development costs. The Company is also entitled to monthly reimbursement of indirect costs based on rates stipulated in the underlying contract. The Company&#x2019;s calculations of its indirect cost rates are subject to audit by the U.S. Government.</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Receivables from Product Sales</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"></div> <div style=" font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Receivables from product sales are recorded for amounts due to the Company related to sales of RAPIVAB. These receivables are evaluated to determine if any reserve or allowance should be established at each reporting date.</div> <div style=" font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0">&nbsp;&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Inventory</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">At <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016, </div>the Company&#x2019;s inventory consisted primarily of peramivir work in process and is being manufactured for the Company&#x2019;s partners. Inventory is stated at the lower of cost and net realizable value, determined under the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">first</div>-in, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">first</div>-out (&#x201c;FIFO&#x201d;) method, or market. The Company expenses costs related to the production of inventories as research and development expenses in the period incurred until such time it is believed that future economic benefit is expected to be recognized, which generally is reliant upon receipt of regulatory approval. Upon regulatory approval, the Company will capitalize subsequent costs related to the production of inventories.</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Property and Equipment</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Property and equipment are recorded at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Computer equipment is depreciated over a life of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> years. Laboratory equipment, office equipment, and software are depreciated over a life of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">five</div> years. Furniture and fixtures are depreciated over a life of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">seven</div> years. Leasehold improvements are amortized over their estimated useful lives or the expected lease term, whichever is less. Property consists of a leased building which did <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> meet the sale-leaseback criteria and is recorded at its fair value, less depreciation. The building is being depreciated over a period equal to the expected term of the related lease.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In accordance with U.S. GAAP, the Company periodically reviews its property and equipment for impairment when events or changes in circumstances indicate that the carrying amount of such assets <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> be recoverable. Determination of recoverability is based on an estimate of undiscounted future cash flows resulting from the use of the asset and its eventual disposition. In the event that such cash flows are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> expected to be sufficient to recover the carrying amount of the assets, the assets are written down to their estimated fair values. Property and equipment to be disposed of are reported at the lower of carrying amount or fair value less cost to sell.&nbsp;</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Patents and Licenses</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company seeks patent protection on all internally developed processes and products. All patent related costs are expensed to selling, general and administrative expenses when incurred as recoverability of such expenditures is uncertain.</div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</div> </div> <!-- Field: Page; Sequence: 63; Value: 60 -->   <!-- Field: /Page --> <div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Accrued Expenses</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company generally enters into contractual agreements with <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div>-party vendors who provide research and development, manufacturing, and other services in the ordinary course of business. Some of these contracts are subject to milestone-based invoicing and services are completed over an extended period of time. The Company records liabilities under these contractual commitments when it determines an obligation has been incurred, regardless of the timing of the invoice. This process involves reviewing open contracts and purchase orders, communicating with applicable Company personnel to identify services that have been performed on its behalf and estimating the level of service performed and the associated cost incurred for the service when the Company has <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> yet been invoiced or otherwise notified of actual cost. The majority of service providers invoice the Company monthly in arrears for services performed. The Company makes estimates of accrued expenses as of each balance sheet date in its financial statements based on the facts and circumstances. The Company periodically confirms the accuracy of its estimates with the service providers and makes adjustments if necessary. Examples of estimated accrued expenses include:</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <table cellspacing="0" cellpadding="0" style="; border-collapse: collapse; font-size: 10pt; min-width: 700px;">  <tr> <td style="width: 5%">&nbsp;</td> <td style="vertical-align: top; width: 2%"><div style="display: inline; font-size: 10pt">&#x2022;</div></td> <td style="vertical-align: top; width: 1%">&nbsp;</td> <td style="vertical-align: top; width: 91%"><div style="display: inline; font-size: 10pt">fees paid to Clinical Research Organizations (&#x201c;CROs&#x201d;) in connection with preclinical and toxicology studies and clinical trials;</div></td> <td style="width: 1%">&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td style="vertical-align: top">&nbsp;</td> <td style="vertical-align: top">&nbsp;</td> <td style="vertical-align: top">&nbsp;</td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td style="vertical-align: top"><div style="display: inline; font-size: 10pt">&#x2022;</div></td> <td style="vertical-align: top">&nbsp;</td> <td style="vertical-align: top"><div style="display: inline; font-size: 10pt">fees paid to investigative sites in connection with clinical trials;</div></td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td style="vertical-align: top">&nbsp;</td> <td style="vertical-align: top">&nbsp;</td> <td style="vertical-align: top">&nbsp;</td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td style="vertical-align: top"><div style="display: inline; font-size: 10pt">&#x2022;</div></td> <td style="vertical-align: top">&nbsp;</td> <td style="vertical-align: top"><div style="display: inline; font-size: 10pt">fees paid to contract manufacturers in connection with the production of the Company&#x2019;s raw materials, drug substance and drug products;&nbsp;and</div></td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td style="vertical-align: top">&nbsp;</td> <td style="vertical-align: top">&nbsp;</td> <td colspan="2" style="vertical-align: top">&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td style="vertical-align: top"><div style="display: inline; font-size: 10pt">&#x2022;</div></td> <td style="vertical-align: top">&nbsp;</td> <td colspan="2" style="vertical-align: top"><div style="display: inline; font-size: 10pt">professional fees.</div></td> </tr>  </table> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company bases its expenses related to clinical trials on its estimates of the services received and efforts expended pursuant to contracts with multiple research institutions and CROs that conduct and manage clinical trials on the Company&#x2019;s behalf. The financial terms of these agreements are subject to negotiation, vary from contract to contract and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>result in uneven payment flows. Payments under some of these contracts depend on factors such as the successful enrollment of patients and the completion of clinical trial milestones. In accruing service fees, the Company estimates the time period over which services will be performed and the level of effort expended in each period. If the actual timing of the performance of services or the level of effort varies from the estimate, the Company will adjust the accrual accordingly. As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016, </div>the carrying value of accrued expenses approximates their fair value due to their short-term settlement.&nbsp;</div> <div style=" font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-align: center; margin: 0pt 0"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">Accrued expenses were comprised of the following:</div> <div style=" font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 67%; font-size: 10pt; text-align: left">Compensation and benefits</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,905</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 2%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">425</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Development costs</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,683</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,427</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Inventory</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">705</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Professional fees</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">729</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">242</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Duties and taxes</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">148</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">56</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Other</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,234</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,981</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Total accrued expenses</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,699</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,836</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Income Taxes</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The liability method is used in the Company&#x2019;s accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse.</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 22, 2017, </div>the SEC staff issued Staff Accounting Bulletin <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">118</div> (&#x201c;SAB <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">118&#x201d;</div>), which provides guidance on accounting for the tax effects of the Tax Cuts and Jobs Act (&#x201c;TCJA&#x201d;). SAB <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">118</div> provides a measurement period that should <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> extend beyond <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> year from the TCJA enactment date for companies to complete the accounting under ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">740,</div> Income Taxes. As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div>the Company has <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> completed its accounting related to the enactment of the Tax Act.&nbsp;However, the Company has made reasonable estimates of the effects on its income tax provision with respect to certain items, primarily the revaluation of its existing U.S. deferred tax balances as described in Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.</div></div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Accumulated Other Comprehensive Loss</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Accumulated other comprehensive loss is comprised of unrealized gains and losses on available-for-sale investments and is disclosed as a separate component of stockholders&#x2019; equity. Amounts reclassified from accumulated other comprehensive loss are recorded as interest and other income on the Consolidated Statements of Comprehensive Loss. During <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> a realized loss of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1</div> and a realized gain of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$11,</div> respectively, were reclassified out of accumulated other comprehensive loss.</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Revenue Recognition</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company recognizes revenues from collaborative and other research and development arrangements, royalties and product sales when realized or realizable and earned. Revenue is realized or realizable and earned when all of the following criteria are met: (i)&nbsp;persuasive evidence of an arrangement exists; (ii)&nbsp;delivery has occurred or services have been rendered; (iii)&nbsp;the seller&#x2019;s price to the buyer is fixed or determinable; and (iv)&nbsp;collectability is reasonably assured.</div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</div> </div> <!-- Field: Page; Sequence: 64; Value: 60 -->   <!-- Field: /Page --> <div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-style: italic;">Collaborative and Other Research and Development Arrangements and Royalties</div></div> <div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">Revenue from license fees, royalty payments, event payments, and research and development fees are recognized as revenue when the earnings process is complete and the Company has <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> further continuing performance obligations or the Company has completed the performance obligations under the terms of the agreement. Fees received under licensing agreements that are related to future performance are deferred and recognized over an estimated period determined by management based on the terms of the agreement and the products licensed. Revisions to revenue or profit estimates as a result of changes in the estimated revenue period are recognized prospectively.&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">Under certain of the Company&#x2019;s license agreements, the Company receives royalty payments based upon its licensees&#x2019; net sales of covered products. The Company recognizes royalty revenues when it can reliably estimate such amounts and collectability is reasonably assured.&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">For arrangements that involve the delivery of more than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> element, each product, service and/or right to use assets is evaluated to determine whether it qualifies as a separate unit of accounting. This determination is based on whether the deliverable has &#x201c;stand-alone value&#x201d; to the customer. The consideration that is fixed or determinable is then allocated to each separate unit of accounting based on the relative selling price of each deliverable. The estimated selling price of each deliverable is determined using the following hierarchy of values: (i) vendor-specific objective evidence of fair value, (ii) <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div>-party evidence of selling price (&#x201c;TPE&#x201d;) and (iii) best estimate of selling price (&#x201c;BESP&#x201d;). The BESP reflects the Company&#x2019;s best estimate of what the selling price would be if the deliverable was regularly sold by the Company on a stand-alone basis. In most cases the Company expects to use TPE or BESP for allocating consideration to each deliverable. The consideration allocated to each unit of accounting is recognized as the related goods or services are delivered, limited to the consideration that is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> contingent upon future deliverables. Analyzing the arrangement to identify deliverables requires the use of judgment, and each deliverable <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be an obligation to deliver services, a right or license to use an asset, or another performance obligation.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 2015, </div>the Company entered into a License Agreement (the &#x201c;SUL Agreement&#x201d;) granting SUL and its affiliates worldwide rights, excluding Israel, Japan, Korea and Taiwan, to develop, manufacture and commercialize RAPIVAB. The SUL Agreement provides for various types of payments, including a non-refundable upfront fee, milestone payments, and future royalties. Analysis of the SUL Agreement identified <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> deliverables: (i) license rights, (ii) inventory and (iii) regulatory support to obtain Canadian and European Union (&#x201c;EU&#x201d;) marketing approvals. The Company received an upfront payment of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$33,740</div> from SUL, of which <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$7,000</div> was determined to be contingent upon EU marketing approval and will be deferred until that time. Approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$21,777</div> of the upfront payment was allocated to the license rights and recognized as revenue in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015.</div> Approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$3,740</div> of the upfront payment was allocated to the pending sale of inventory and was recognized in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015,</div> when the inventory transfer was completed. Approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1,223</div> of the revenue from the SUL Agreement was recognized over the period of involvement in regulatory support activities.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">Milestone payments are recognized as licensing revenue upon the achievement of specified milestones if (i) the milestone is substantive in nature and the achievement of the milestone was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> reasonably assured at the inception of the agreement; and (ii) the fees are non-refundable. Any milestone payments received prior to satisfying these revenue recognition criteria are recorded as deferred revenue.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">During <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> the Company received a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$2,000</div> milestone payment related to the approval of RAPIVAB by Health Canada and a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$5,000</div> milestone payment associated with the FDA approval of a supplemental new drug application (&#x201c;sNDA&#x201d;) for RAPIVAB extending its availability for the treatment of acute uncomplicated influenza to pediatric patients <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div> years and older. The Company evaluated each event based payment under the provisions of ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2010</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17,</div> Milestone Method of Revenue Recognition, and determined that each event based payment met the criteria to be considered substantive and represents a milestone under the milestone method of accounting. Under the terms of the SUL Agreement, the Company <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>receive an additional <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$5,000</div> payment related to the successful marketing approval by the EMA for an adult indication in the EU. <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No</div> event-based payments were achieved during <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016.</div>&nbsp;</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Reimbursements received for direct out-of-pocket expenses related to research and development costs are recorded as revenue in the Consolidated Statements of Comprehensive Loss rather than as a reduction in expenses. Under the Company&#x2019;s contracts with the Biomedical Advanced Research and Development Authority within the United States Department of Health and Human Services (&#x201d;BARDA/HHS&#x201d;) and the National Institute of Allergy and Infectious Diseases (&#x201c;NIAID/HHS&#x201d;), revenue is recognized as reimbursable direct and indirect costs are incurred.</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-style: italic;">Product Sales</div></div> <div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company recognizes revenue for sales of RAPIVAB when title and substantially all the risks and rewards of ownership have transferred to the customer, which generally occurs on the date of shipment from the Company&#x2019;s specialty distributors, utilizing the Sell-Through revenue recognition methodology. Product sales are recognized when there is persuasive evidence that an arrangement exists, title has passed, the price is fixed and determinable, and collectability is reasonably assured. Product sales are recognized net of estimated allowances, discounts, sales returns, chargebacks and rebates. In the United States, and prior to the SUL Agreement, the Company sold RAPIVAB to specialty distributors, who in turn, sell to physician offices, hospitals and federal, state and commercial health care organizations.&nbsp;With the completion of the SUL worldwide license of RAPIVAB, SUL will be responsible for sales of RAPIVAB, other than U.S. Government stockpiling sales. With the completion of the SUL collaboration, all peramivir sales (i.e., RAPIVAB, RAPIACTA, and PERAMIFLU) will be made by the Company&#x2019;s partners, except for U.S. Government stockpiling sales, and the Company will be reliant on these partners to generate sales.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> </div> <!-- Field: Page; Sequence: 65; Value: 60 -->   <!-- Field: /Page --> <div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Sales deductions consist of statutory rebates to state Medicaid, Medicare and other government agencies and sales discounts (including trade discounts and distribution service fees). These deductions are recorded as reductions from revenue from RAPIVAB in the same period as the related sales with estimates of future utilization derived from historical experience adjusted to reflect known changes in the factors that impact such reserves.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company utilizes data from external sources to help it estimate gross-to-net sales adjustments as they relate to the recognition of revenue for RAPIVAB sold. Externally sourced data includes, but is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> limited to, information obtained from specialty distributors with respect to their inventory levels and their sell-through to customers, as well as information from <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div>-party suppliers of market research data to the pharmaceutical industry.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company accounts for these sales deductions in accordance with authoritative guidance on revenue recognition when consideration is given by a vendor to a customer.&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company has categorized and described more fully the following significant sales deductions, all of which involve estimates and judgments, which the Company considers to be critical accounting estimates, and require it to use information from external sources.&nbsp;&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 13.5pt"></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 13.5pt">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 13.5pt"><div style="display: inline; font-style: italic;">Rebates and Chargebacks</div></div> <div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 13.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">Statutory rebates to state Medicaid agencies and Medicare are based on statutory discounts to RAPIVAB&#x2019;s selling price.&nbsp;As it can take up to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">nine</div> months or more for information to be received on actual usage of RAPIVAB in Medicaid and other governmental programs, the Company maintains reserves for amounts payable under these programs relating to RAPIVAB sales.&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">Chargebacks claimed by specialty distributors are based on the differentials between product acquisition prices paid by the specialty distributors and lower government contract pricing paid by eligible customers covered under federally qualified programs.&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">The amount of the reserve for rebates and chargebacks is based on multiple qualitative and quantitative factors, including the historical and projected utilization levels, historical payment experience, changes in statutory laws and interpretations as well as contractual terms, product pricing (both normal selling prices and statutory or negotiated prices), changes in prescription demand patterns and utilization of the Company&#x2019;s product through public benefit plans, and the levels of RAPIVAB inventory in the distribution channel. The Company acquires prescription utilization data from <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div>-party suppliers of market research data to the pharmaceutical industry. The Company updates its estimates and assumptions each period and records any necessary adjustments to its reserves. Settlements of rebates and chargebacks typically occur within <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">nine</div> months from point of sale. To the extent actual rebates and chargebacks differ from the Company&#x2019;s estimates, additional reserves <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be required or reserves <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>need to be reversed, either of which would impact current period product revenue.&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in"></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in"><div style="display: inline; font-style: italic;">Discounts and Sales Incentives</div></div> <div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 0.25in">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Discounts and other sales incentives primarily consist of Inventory Management Agreement (&#x201c;IMA&#x201d;) fees. Per contractual agreements with the Company&#x2019;s specialty distributors, the Company provides an IMA fee based on a percentage of their purchases of RAPIVAB. The IMA fee rates are set forth in individual contracts. The Company tracks sales to these distributors each period and accrues a liability relating to the unpaid portion of these fees by applying the contractual rates to such product sales.&nbsp;With the completion of the SUL collaboration, all peramivir sales (i.e., RAPIVAB, RAPIACTA, and PERAMIFLU) will be made by the Company&#x2019;s partners, except for U.S. Government stockpiling sales, and the Company will be reliant on these partners to generate sales and to provide for discounts and sales incentives.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in"><div style="display: inline; font-style: italic;">Product Returns</div></div> <div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 0.25in">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> record a product return allowance as it does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> offer the ability to return goods once a bonafide shipment has been accepted by a specialty distributor.&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> </div> <!-- Field: Page; Sequence: 66; Value: 60 -->   <!-- Field: /Page --> <div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company recorded the following revenues for the years ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31:</div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 13.5pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left">Product sales, net</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,501</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,269</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,291</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Royalty revenue</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,543</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,682</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,386</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Collaborative and other research and development revenues:</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">U.S. Department of Health and Human Services</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,608</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,449</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,337</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Green Cross Corporation</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">132</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Shionogi &amp; Co. Ltd.</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,184</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,184</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,184</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt">Seqirus UK Limited</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,350</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">769</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21,927</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Total collaborative and other research and development revenues</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,142</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14,402</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">39,580</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Total revenues</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25,186</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26,353</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">48,257</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">&nbsp;</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in"><div style="display: inline; font-style: italic;">Advertising</div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company engages in very limited distribution and direct-response advertising when promoting RAPIVAB. Advertising and promotional costs are expensed as the costs are incurred. The Company did <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> incur advertising and product promotion expenses in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016.</div> Advertising and product promotion expenses were <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$103</div> for the year ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015.</div></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Research and Development Expenses</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company&#x2019;s research and development costs are charged to expense when incurred. Research and development expenses include all direct and indirect development costs related to the development of the Company&#x2019;s portfolio of product candidates. Advance payments for goods or services that will be used or rendered for future research and development activities are deferred and capitalized. Such amounts are recognized as expense when the related goods are delivered or the related services are performed. Research and development expenses include, among other items, personnel costs, including salaries and benefits, manufacturing costs, clinical, regulatory, and toxicology services performed by CROs, materials and supplies, and overhead allocations consisting of various administrative and facilities related costs. Most of the Company&#x2019;s manufacturing and clinical and preclinical studies are performed by <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div>-party CROs. Costs for studies performed by CROs are accrued by the Company over the service periods specified in the contracts and estimates are adjusted, if required, based upon the Company&#x2019;s on-going review of the level of services actually performed.&nbsp;&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Additionally, the Company has license agreements with <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div> parties, such as Albert Einstein College of Medicine of Yeshiva University (&#x201c;AECOM&#x201d;), Industrial Research, Ltd. (&#x201c;IRL&#x201d;), and the University of Alabama at Birmingham (&#x201c;UAB&#x201d;), which require fees related to sublicense agreements or maintenance fees. The Company expenses sublicense payments as incurred unless they are related to revenues that have been deferred, in which case the expenses are deferred and recognized over the related revenue recognition period. The Company expenses maintenance payments as incurred.&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Deferred collaboration expenses represent sub-license payments, paid to the Company&#x2019;s academic partners upon receipt of consideration from various commercial partners, and other consideration paid to the Company&#x2019;s academic partners for modification to existing license agreements. These deferred expenses would <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> have been incurred without receipt of such payments or modifications from the Company&#x2019;s commercial partners and are being expensed in proportion to the related revenue being recognized. The Company believes that this accounting treatment appropriately matches expenses with the associated revenue.</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Stock-Based Compensation</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">All share-based payments, including grants of stock option awards and restricted stock unit awards, are recognized in the Company&#x2019;s Consolidated Statements of Comprehensive Loss based on their fair values. The fair value of stock option awards is estimated using the Black-Scholes option pricing model. The fair value of restricted stock unit awards is based on the grant date closing price of the common stock. Stock-based compensation cost is recognized as expense on a straight-line basis over the requisite service period of the award. In addition, we have outstanding performance-based stock options for which <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> compensation expense is recognized until &#x201c;performance&#x201d; is deemed to have occurred.</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Interest Expense and Deferred Financing Costs</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Interest expense for the years ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div> was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$8,565,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$6,487</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$5,200,</div> respectively, and primarily relates to the issuance of the PhaRMA Notes (defined in Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div>) and the Senior Credit Facility (defined in Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4</div>). Costs directly associated with the issuance of the PhaRMA Notes and the Senior Credit Facility have been capitalized and are netted against the non-recourse notes payable and Senior Credit Facility on the Consolidated Balance Sheets. These costs are being amortized to interest expense over the terms of the PhaRMA Notes and the Senior Credit Facility using the effective interest rate method. Amortization of deferred financing costs and original issue discount included in interest expense was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$876,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$558</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$439</div> for each of the years ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015,</div> respectively.</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</div> </div> <!-- Field: Page; Sequence: 67; Value: 60 -->   <!-- Field: /Page --> <div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 13.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Lease Financing Obligation</div></div></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Based on the terms of the lease agreement for the new research facility in Birmingham, Alabama, the Company had construction period risks during the construction period and the Company was deemed the owner of the building (for accounting purposes only) during the construction period, which ended in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016.</div> Accordingly, the Company recorded an asset of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1,589</div> at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2015, </div>representing the Company&#x2019;s leased portion of the building and recorded a corresponding liability. Upon completion of leasehold improvement construction, the Company did <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> meet the sale-leaseback criteria for de-recognition of the building asset and liability. Therefore, the lease is accounted for as a financing obligation. The asset will be depreciated over the expected duration of the lease of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20.5</div> years, and rental payments will be treated as principal and interest payments on the lease financing obligation liability. The underlying accounting for this transaction has <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> impact on cash flows associated with the underlying lease or construction in process. Interest expense for the years ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> includes <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$299</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$408,</div> respectively, related to the lease financing obligation.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">At each of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> the lease financing obligation balance was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$2,704</div> and was recorded as a long-term liability on the consolidated balance sheets. At <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 </div>the remaining future minimum payments under the lease financing obligation are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$4,334.</div></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Currency Hedge Agreement</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">In connection with the issuance by Royalty Sub of the PhaRMA Notes, the Company entered into a Currency Hedge Agreement to hedge certain risks associated with changes in the value of the Japanese yen relative to the U.S. dollar. The Currency Hedge Agreement does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> qualify for hedge accounting treatment; therefore mark to market adjustments are recognized in the Company&#x2019;s Consolidated Statements of Comprehensive Loss. Cumulative mark to market adjustments for the years ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div> resulted in losses of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1,787,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1,654</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$564,</div> respectively. Mark to market adjustments are determined by a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div>-party pricing model which uses quoted prices in markets that are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> actively traded and for which significant inputs are observable directly or indirectly, representing Level <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div> in the fair value hierarchy as defined by U.S. GAAP. In addition, realized currency exchange gains of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$966,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$811</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1,654</div> were recognized in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015,</div> respectively, related to the exercise of a U.S. dollar/Japanese yen currency option under the Company&#x2019;s foreign currency hedge. The Company is also required to post collateral in connection with the mark to market adjustments based on defined thresholds. As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> hedge collateral was posted under the Currency Hedge Agreement.</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Net Loss Per Share</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Net loss per share is based upon the weighted average number of common shares outstanding during the period. Diluted loss per share is equivalent to basic net loss per share for all periods presented herein because common equivalent shares from unexercised stock options, outstanding warrants, and common shares expected to be issued under the Company&#x2019;s employee stock purchase plan were anti-dilutive. The calculation of diluted earnings per share for the years ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div> does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> include <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,067,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,226</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,524</div> respectively, of potential common shares as their impact would be anti-dilutive.</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Use of Estimates</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The preparation of financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the financial statements. Actual results could differ from those estimates.&nbsp;&nbsp;</div> <div style=" font-size: 10pt; text-indent: 13.5pt; margin: 0pt 0"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">&nbsp;</div></div></div> <div style=" font-size: 10pt; text-indent: 13.5pt; margin: 0pt 0"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Significant Customers and Other Risks</div></div><div style="display: inline; font-style: italic;"> &nbsp;</div></div> <div style=" font-size: 10pt; text-indent: 13.5pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"><div style="display: inline; font-style: italic;">Significant Customers</div></div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">Prior to the SUL Agreement, the Company relied primarily on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> specialty distributors to purchase and supply the majority of RAPIVAB. These <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> pharmaceutical specialty distributors accounted for greater than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">90%</div> of all RAPIVAB product sales and accounted for predominantly all of the Company&#x2019;s outstanding receivables from product sales. The loss of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> or more of these specialty distributors as a customer could have negatively impacted the commercialization of RAPIVAB. However, the Company will utilize these specialty distributors on a limited basis subsequent to the SUL collaboration as SUL, and other peramivir collaboration partners, will be responsible for commercial sales on a worldwide basis. In addition, in connection with the SUL collaboration, all peramivir sales (i.e., RAPIVAB, RAPIACTA, and PERAMIFLU) will be made by the Company&#x2019;s partners and the Company will be reliant on these partners to generate sales and remit cash to satisfy receivables.</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</div> </div> <!-- Field: Page; Sequence: 68; Value: 60 -->   <!-- Field: /Page --> <div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt">Other than royalty revenues, the Company&#x2019;s primary source of revenue that has an underlying cash flow stream is the reimbursement of galidesivir (formerly <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">BCX4430</div>) development expenses earned under cost-plus-fixed-fee contracts with BARDA/HHS and NIAID/HHS. The Company relies on BARDA/HHS and NIAID/HHS to reimburse predominantly all of the development costs for its galidesivir program. Accordingly, reimbursement of these expenses represents a significant portion of the Company&#x2019;s collaborative and other research and development revenues. The completion or termination of the NIAID/HHS and BARDA/HHS galidesivir contracts could negatively impact the Company&#x2019;s future Consolidated Statements of Comprehensive Loss and Cash Flows. The Company recognizes royalty revenue from the net sales of RAPIACTA by Shionogi; however, the underlying cash flow from these royalty payments, except for Japanese government stockpiling sales, goes directly to pay the interest, and then the principal, on the Company&#x2019;s non-recourse notes payable. Payment of the interest and the ultimate repayment of principal of these notes will be entirely funded by future royalty payments derived from net sales of RAPIACTA. Further, the Company&#x2019;s drug development activities are performed by a limited group of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div> party vendors. If any of these vendors were unable to perform their services, this could significantly impact the Company&#x2019;s ability to complete its drug development activities.</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"><div style="display: inline; font-style: italic;">Risks from Third Party Manufacturing and Distribution Concentration</div></div> <div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 22.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">The Company relies on single source manufacturers for active pharmaceutical ingredient and finished drug product manufacturing of product candidates in development. Delays in the manufacture or distribution of any product could adversely impact the commercial revenue and future procurement stockpiling of the Company&#x2019;s product candidates in development.</div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"><div style="display: inline; font-style: italic;">Credit Risk</div></div> <div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 22.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">Cash equivalents and investments are financial instruments which potentially subject the Company to concentration of risk to the extent recorded on the Consolidated Balance Sheets. The Company deposits excess cash with major financial institutions in the United States. Balances <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>exceed the amount of insurance provided on such deposits. The Company believes it has established guidelines for investment of its excess cash relative to diversification and maturities that maintain safety and liquidity. To minimize the exposure due to adverse shifts in interest rates, the Company maintains a portfolio of investments with an average maturity of approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18</div> months or less. Other than product sale and collaborative partner receivables discussed above, the majority of the Company&#x2019;s receivables from collaborations are due from the U.S. Government, for which there is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> assumed credit risk.</div> </div></div><span></span>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 2 - Property and Equipment<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-weight: bold;">Note&nbsp;<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div>&nbsp;&#x2014; Property and Equipment</div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">Property and equipment consisted of the following at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31:</div></div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 67%; font-size: 10pt; text-align: left">Furniture and fixtures</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">566</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 2%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">540</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Office equipment</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">146</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">141</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Software</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,125</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,117</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Laboratory equipment</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,984</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,252</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Leased equipment</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">152</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Leasehold improvements</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,405</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,294</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Building</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,495</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,495</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14,873</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14,839</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Less accumulated depreciation and amortization</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,327</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,917</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Property and equipment, net</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,546</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,922</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Depreciation and amortization expense for the years ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div> was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$704,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$483</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$180,</div> respectively.</div></div><span></span>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 3 - Royalty Monetization<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-weight: bold;">Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3&#x2014;</div> Royalty Monetization</div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 6pt"><div style="display: inline; font-style: italic;">Overview</div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 6pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2011,</div> the Company completed a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$30,000</div>&nbsp;financing transaction to monetize certain future royalty and milestone payments under the Shionogi Agreement, pursuant to which Shionogi licensed from the Company the rights to market RAPIACTA in Japan and Taiwan. The Company received net proceeds of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$22,691</div>&nbsp;from the transaction after transaction costs of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$4,309</div>&nbsp;and the establishment of a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$3,000</div>&nbsp;interest reserve account by Royalty Sub, available to help cover interest shortfalls in the future. All of the interest reserve account has been fully utilized with the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 2012 </div>interest payment.&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">As part of the transaction, the Company entered into a purchase and sale agreement dated as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2011</div> with Royalty Sub, whereby the Company transferred to Royalty Sub, among other things, (i)&nbsp;its rights to receive certain royalty and milestone payments from Shionogi arising under the Shionogi Agreement, and (ii)&nbsp;the right to receive payments under a Japanese yen/US dollar foreign currency hedge arrangement (as further described below, the &#x201c;Currency Hedge Agreement&#x201d;) put into place by the Company in connection with the transaction. Royalty payments will be paid by Shionogi in Japanese yen and milestone payments will paid in U.S. dollars. The Company&#x2019;s collaboration with Shionogi was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> impacted as a result of this transaction.&nbsp;</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</div> <!-- Field: Page; Sequence: 69; Value: 60 -->   <!-- Field: /Page --> <div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 6pt"><div style="display: inline; font-style: italic;">Non-Recourse Notes Payable</div></div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2011,</div> Royalty Sub completed a private placement to institutional investors of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$30,000</div> in aggregate principal amount of its PhaRMA Senior Secured <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14.0%</div> Notes due <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2020</div> (the &#x201c;PhaRMA Notes&#x201d;). The PhaRMA Notes were issued by Royalty Sub under an Indenture, dated as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2011</div> (the &#x201c;Indenture&#x201d;), by and between Royalty Sub and U.S. Bank National Association, as Trustee. Principal and interest on the PhaRMA Notes issued are payable from, and are secured by, the rights to royalty and milestone payments under the Shionogi Agreement transferred by the Company to Royalty Sub and payments, if any, made to Royalty Sub under the Currency Hedge Agreement. The PhaRMA Notes bear interest at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14%</div>&nbsp;per annum, payable annually in arrears on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1st</div> of each year. The Company remains entitled to receive any royalties and milestone payments related to sales of peramivir by Shionogi following repayment of the PhaRMA Notes. &nbsp;&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Royalty Sub&#x2019;s obligations to pay principal and interest on the PhaRMA Notes are obligations solely of Royalty Sub and are without recourse to any other person, including the Company, except to the extent of the Company&#x2019;s pledge of its equity interests in Royalty Sub in support of the PhaRMA Notes. The Company <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may, </div>but is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> obligated to, make capital contributions to a capital account that <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be used to redeem, or on up to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> occasion pay any interest shortfall on, the PhaRMA Notes.</div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014,</div> Royalty Sub was unable to pay the accrued interest obligation due <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2013.</div> Under the terms of the Indenture, Royalty Sub&#x2019;s inability to pay the full amount of interest payable in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2013</div> by the next succeeding Payment Date for the PhaRMA Notes, which was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014,</div> constituted an event of default. Accordingly, the PhaRMA Notes and related accrued interest have been classified as current liabilities on the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2014 </div>balance sheet, and thereafter. As a result of the event of default under the PhaRMA Notes, the holders of the PhaRMA Notes <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>pursue acceleration of the PhaRMA Notes, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>foreclose on the collateral securing the PhaRMA Notes and the equity interest in Royalty Sub and exercise other remedies available to them under the Indenture in respect of the PhaRMA Notes. In such event, the Company <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> realize the benefit of future royalty payments that might otherwise accrue to it following repayment of the PhaRMA Notes and it might otherwise be adversely affected. Due to the non-recourse nature of the PhaRMA Notes, in the event of any potential acceleration or foreclosure, the primary impact to the Company would be the loss of future royalty payments from Shionogi and legal costs associated with retiring the PhaRMA Notes. In addition, the Company <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>incur costs associated with liquidating the related Currency Hedge Agreement, which would <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> longer be required in the event of foreclosure, or if the PhaRMA Notes cease to be outstanding. As the PhaRMA Notes are the obligation of Royalty Sub and non-recourse to the Company, the event of default of the PhaRMA Notes is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> expected to have a significant impact on the Company&#x2019;s future results of operations or cash flows. As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div>the PhaRMA Notes remain in default.</div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Indenture does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> contain any financial covenants. The Indenture includes customary representations and warranties of Royalty Sub, affirmative and negative covenants of Royalty Sub, Events of Default and related remedies, and provisions regarding the duties of the Trustee, indemnification of the Trustee, and other matters typical for indentures used in structured financings of this type.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> the aggregate fair value of the PhaRMA Notes was estimated to be approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">50%</div> of its carrying value of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$30,000.</div> The estimated fair value of the PhaRMA Notes is classified as Level <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div> in the fair value hierarchy as defined in U.S. GAAP.&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The PhaRMA Notes are redeemable at the option of Royalty Sub at any time at a redemption price equal to the outstanding principal balance of the PhaRMA Notes being redeemed plus accrued and unpaid interest through the redemption date on the PhaRMA Notes being redeemed.</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in"><div style="display: inline; font-style: italic;">Foreign Currency Hedge</div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In connection with the issuance by Royalty Sub of the PhaRMA Notes, the Company entered into a Currency Hedge Agreement to hedge certain risks associated with changes in the value of the Japanese yen relative to the U.S. dollar. Under the Currency Hedge Agreement, the Company has the right to purchase dollars and sell yen at a rate of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">100</div> yen per dollar for which the Company <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be required to pay a premium in each year from <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018</div> through <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2020,</div> provided the Currency Hedge Agreement remains in effect. A payment of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1,950</div>&nbsp;will be required if, on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18</div> of the relevant year, the U.S. dollar is worth <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">100</div> yen or less as determined in accordance with the Currency Hedge Agreement.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> </div> <!-- Field: Page; Sequence: 70; Value: 60 -->   <!-- Field: /Page --> <div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Currency Hedge Agreement does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> qualify for hedge accounting treatment; therefore mark to market adjustments are recognized in the Company&#x2019;s Consolidated Statement of Comprehensive Loss. Cumulative mark to market adjustments in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div> resulted in losses of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1,787,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1,654</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$564,</div> respectively. In addition, realized currency exchange gains of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$966,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$811</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1,654</div> were recognized in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015,</div> respectively, related to the exercise of a U.S. dollar/Japanese yen currency option under the Company&#x2019;s foreign currency hedge. The Company is also required to post collateral in connection with the mark to market adjustments based on defined thresholds. As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> collateral was posted under the Currency Hedge Agreement. The Company will <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> be required at any time to post collateral exceeding the maximum premium payments remaining payable under the Currency Hedge Agreement. As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div>the maximum amount of hedge collateral the Company <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be required to post is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$5,850.</div></div> </div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Royalty monetization.</p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6822252032">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 4 - Senior Credit Facility<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureTextBlockAbstract', window );"><strong>Notes to Financial Statements</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtDisclosureTextBlock', window );">Debt Disclosure [Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-weight: bold;">Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4</div> &#x2014; Senior Credit Facility</div></div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 23, 2016, </div>the Company closed a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$23,000</div> Senior Credit Facility with an affiliate of MidCap Financial Services, LLC (&#x201c;MidCap&#x201d;), as administrative agent (the &#x201c;Senior Credit Facility&#x201d;). The Senior Credit Facility was fully funded at closing and bears a variable interest rate of LIBOR (which shall <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> be less than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.5%</div>) plus <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8%.</div> The Senior Credit Facility includes an interest-only payment period through fiscal <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div> and scheduled monthly principal and interest payments for the subsequent <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">40</div> months. The Company has the option to repay the Senior Credit Facility at any time prior to the scheduled principal repayment date subject to prepayment fees. Final payment of the Senior Credit Facility is subject to a final payment fee equal to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5%</div> of the principal funded under the Senior Credit Facility.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt">As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div>the Company had borrowings of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$23,000</div> under the Senior Credit Facility bearing an interest rate of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.4%.</div> The carrying amount of the debt approximates its fair value based on prevailing interest rates as of the balance sheet date. Scheduled principal repayments of the Senior Credit Facility are as follows:</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td colspan="5" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Principal Payments</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 72%; font-size: 10pt; text-align: justify">2018</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 25%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,900</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify">2019</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,900</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">2020</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,900</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 1pt">2021</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,300</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 2.25pt">Total</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">23,000</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">The debt agreement contains <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div> provisions that if deemed probable would create the recognition of an embedded feature; however, at this time we do <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> believe either provision is probable.</div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -URI http://asc.fasb.org/topic&amp;trid=2208564<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830059008">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 5 - Lease Obligations and Other Contingencies<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-weight: bold;">Note&nbsp;<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div>&nbsp;&#x2014; Lease Obligations and Other Contingencies</div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company has the following minimum payments under operating lease obligations that existed at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017:</div></div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 87%; font-size: 10pt; text-align: left">2018</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,169</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">2019</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,154</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">2020</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">862</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">2021</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">479</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">2022</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">490</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Thereafter</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,999</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Total minimum payments</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,153</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The obligations in the preceding table are primarily related to the Company&#x2019;s leases for buildings in Birmingham, Alabama and Durham, North Carolina. The lease for the Company&#x2019;s headquarters in Durham, North Carolina expires <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2020.</div> The lease for the Company&#x2019;s research facility in Birmingham, Alabama expires <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> October 31, 2026. </div>Rent expense for operating leases was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$617,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$721</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$664</div> in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015,</div> respectively.</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in"><div style="display: inline; font-style: italic;">Lease Financing Obligation</div></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Based on the terms of the lease agreement for the new research facility in Birmingham, Alabama, the Company had construction period risks during the construction period and the Company was deemed the owner of the building (for accounting purposes only) during the construction period, which ended in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016.</div> Accordingly, the Company recorded an asset of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1,589</div> at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2015, </div>representing the Company&#x2019;s leased portion of the building and recorded a corresponding liability. Upon completion of leasehold improvement construction, the Company did <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> meet the sale-leaseback criteria for de-recognition of the building asset and liability. Therefore, the lease is accounted for as a financing obligation. The asset will be depreciated over the expected duration of the lease, and rental payments will be treated as principal and interest payments on the lease financing obligation liability. The underlying accounting for this transaction has <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> impact on cash flows associated with the underlying lease and or construction in process.</div> <div style=" font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">At each of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> the lease financing obligation balance was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$2,704</div> and was recorded as a long-term liability on the consolidated balance sheets. The remaining future minimum payments under the lease financing obligation are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$4,334.</div></div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for commitments and contingencies.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -URI http://asc.fasb.org/topic&amp;trid=2127136<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 440<br> -URI http://asc.fasb.org/topic&amp;trid=2144648<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6822158640">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 6 - Stockholders' Equity<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-weight: bold;">Note&nbsp;<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6</div>&nbsp;&#x2014; Stockholders&#x2019; Equity</div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Sales of Common Stock</div></div></div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March 2017, </div>the Company completed a public offering of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,061</div> shares of its common stock at a price of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$8.50</div> per share, which included the underwriters&#x2019; overallotment option to purchase additional shares. Net proceeds were approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$47,750</div> after deducting underwriting discounts and offering expenses.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 2017, </div>the Company completed a public offering of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17,864</div> shares of its common stock at a price of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$5.15</div> per share, which included the underwriters&#x2019; overallotment option to purchase additional shares. Net proceeds were approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$86,250</div> after deducting underwriting discounts and offering expenses.</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&nbsp;</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> November 8, 2017, </div>the Company filed a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$200,000</div> shelf registration statement on Form S-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div> with the SEC. This shelf registration statement became effective on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 12, 2017 </div>and allows the Company to sell securities, including common stock, preferred stock, depository shares, stock purchase contracts, warrants and units, from time to time at prices and on terms to be determined at the time of sale.</div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -URI http://asc.fasb.org/topic&amp;trid=2208762<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6822097952">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 7 - Stock-based Compensation<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock', window );">Disclosure of Compensation Related Costs, Share-based Payments [Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-weight: bold;">Note&nbsp;<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7</div>&nbsp;&#x2014; Stock-Based Compensation</div></div> <div style=" font-size: 10pt; text-indent: 13.5pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Stock Incentive Plan</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> the Company had <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div> stock-based employee compensation plans, the Stock Incentive Plan (&#x201c;Incentive Plan&#x201d;) and the Employee Stock Purchase Plan (&#x201c;ESPP&#x201d;). The Incentive Plan was amended and restated in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> April 2017 </div>and approved by the Company&#x2019;s stockholders in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May 2017. </div>The ESPP was amended and restated in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March 2014 </div>and approved by the Company&#x2019;s stockholders in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May 2014. </div>Stock-based compensation expense of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$12,621</div> (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$12,421</div> of expense related to the Incentive Plan, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$200</div> of expense related to the ESPP) was recognized during <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> while <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$8,487</div> (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$8,340</div> of expense related to the Incentive Plan, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$147</div> of expense related to the ESPP) was recognized during <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$9,705</div> (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$9,485</div> of expense related to the Incentive Plan, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$220</div> of expense related to the ESPP) was recognized during <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015.</div>&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company accounts for stock-based compensation in accordance with FASB authoritative guidance regarding share-based payments. Total stock-based compensation was allocated as follows:</div> <div style=" font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year Ended December&nbsp;31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 55%; font-size: 10pt; text-align: left">Research and development</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,602</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,088</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,580</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">General and administrative</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,019</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,399</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,125</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Total stock-based compensation expense</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,621</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,487</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,705</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company grants stock option awards and restricted stock unit awards to its employees, directors, and consultants under the Incentive Plan. Under the Incentive Plan, stock option awards are granted with an exercise price equal to the market price of the Company&#x2019;s stock at the date of grant. Commencing <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2011,</div> stock option awards and restricted stock units granted to employees generally vest <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25%</div> each year until fully vested after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">four</div> years. In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 2013, </div>the Company made retention grants of stock option awards and restricted stock units. These awards vest <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">50%</div> each year until fully vested after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div> years. In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> August 2013 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 2014, </div>the Company issued <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,032</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,250</div> performance-based stock options, respectively. These awards vest upon successful completion of specific development milestones. As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">75%</div> of the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> August 2013 </div>grants have vested based upon achievement of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> milestones: (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div>) successful completion of the OPuS-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div> clinical trial, for which vesting occurred in the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">second</div> quarter of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014,</div> (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div>) FDA approval of RAPIVAB, for which vesting occurred in the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">fourth</div> quarter of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014,</div> and (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div>) initiation of a Phase <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div> clinical trial to evaluate the safety, pharmacokinetics and pharmacodynamics of orally-administered <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">BCX7353</div> in healthy volunteers, for which vesting occurred in the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">second</div> quarter of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015.</div> As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30%</div> of the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 2014 </div>grants have vested based upon achievement of successful completion of an HAE patient trial with a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div><div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">nd</div> generation compound, for which vesting occurred in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> August 2017. </div>Thus, as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25%</div> of the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> August 2013 </div>performance-based grants and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">70%</div> of the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 2014 </div>performance-based grants remain unvested and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> compensation expense has been recognized for these portions of the previously issued performance-based grants. Stock option awards granted to non-employee directors of the Company generally vest monthly over <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> year. All stock option awards have contractual terms of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div> to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10</div>&nbsp;years. The vesting exercise provisions of all awards granted under the Incentive Plan are subject to acceleration in the event of certain stockholder-approved transactions, or upon the occurrence of a change in control as defined in the Incentive Plan.</div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</div> <!-- Field: Page; Sequence: 72; Value: 60 -->   <!-- Field: /Page --> <div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Related activity under the Incentive Plan is as follows:</div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Awards<br /> Available</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Options<br /> Outstanding</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Weighted<br /> Average<br /> Exercise<br /> Price</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 55%; font-size: 10pt">Balance at December&nbsp;31, 2014</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,362</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,605</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.21</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Restricted stock awards granted</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(163</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Restricted stock awards cancelled</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Stock option awards granted</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,217</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,217</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11.52</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Stock option awards exercised</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,118</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.36</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt">Stock option awards cancelled</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(33</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.87</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Balance at December&nbsp;31, 2015</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,671</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.50</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Plan amendment</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,800</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Restricted stock awards granted</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(34</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Restricted stock awards cancelled</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Stock option awards granted</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,248</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,248</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.20</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Stock option awards exercised</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(107</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.63</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt">Stock option awards cancelled</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">717</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(717</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10.78</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Balance at December&nbsp;31, 2016</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,273</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,095</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.55</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Plan amendment</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,000</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Restricted stock awards granted</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(22</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Restricted stock awards cancelled</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Stock option awards granted</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,915</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,915</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.33</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Stock option awards exercised</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(438</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.50</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt">Stock option awards cancelled</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,120</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,120</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.72</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 2.25pt">Balance at December&nbsp;31, 2017</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">468</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14,452</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="padding-bottom: 2.25pt; font-size: 10pt; text-align: left">$</td> <td style="padding-bottom: 2.25pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.06</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div>there were <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">210</div> restricted stock unit awards outstanding.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">For stock option awards granted under the Incentive Plan during <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015,</div> the fair value was estimated on the date of grant using a Black-Scholes option pricing model and the assumptions noted in the table below. The weighted average grant date fair value of these awards granted during <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div> was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$3.63,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$2.17</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$7.72,</div> respectively. The fair value of the stock option awards is amortized to expense over the vesting periods using a straight-line expense attribution method. The following explanations describe the assumptions used by the Company to value the stock option awards granted during <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015.</div> The expected life is based on the average of the assumption that all outstanding stock option awards will be exercised at full vesting and the assumption that all outstanding stock option awards will be exercised at the midpoint of the current date (if already vested) or at full vesting (if <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> yet vested) and the full contractual term. The expected volatility represents the volatility over the most recent period corresponding with the expected life. The Company has assumed <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> expected dividend yield, as dividends have never been paid to stockholders and will <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> be for the foreseeable future. The weighted average risk-free interest rate is the implied yield currently available on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">zero</div>-coupon government issues with a remaining term equal to the expected term.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-weight: bold;">Weighted Average Assumptions for Stock Option Awards Granted under the Incentive Plan</div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 55%; font-size: 10pt; text-align: left">Expected Life</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Expected Volatility</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">82</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">82</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">81</div></td> <td style="font-size: 10pt; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Expected Dividend Yield</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0</div></td> <td style="font-size: 10pt; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Risk-Free Interest Rate</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.0</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.4</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.6</div></td> <td style="font-size: 10pt; text-align: left">%</td> </tr>  </table> </div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The total intrinsic value of stock option awards exercised under the Incentive Plan was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1,964</div> during <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$339</div> during <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$10,117</div> during <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015.</div> The intrinsic value represents the total proceeds (fair market value at the date of exercise, less the exercise price, times the number of stock option awards exercised) received by all individuals who exercised stock option awards during the period.&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The following table summarizes, at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> by price range: (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div>)&nbsp;for stock option awards outstanding under the Incentive Plan, the number of stock option awards outstanding, their weighted average remaining life and their weighted average exercise price; and (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div>)&nbsp;for stock option awards exercisable under the Plan, the number of stock option awards exercisable and their weighted average exercise price:</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td> <td colspan="9" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Outstanding</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Exercisable</td> </tr> <tr style="vertical-align: bottom"> <td colspan="2" style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid; text-align: left">Range</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Number</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Weighted<br /> Average<br /> Remaining<br /> Life</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Weighted<br /> Average<br /> Exercise<br /> Price</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Number</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Weighted<br /> Average<br /> Exercise<br /> Price</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: center">$</td> <td style="width: 5%; font-size: 10pt; font-weight: bold; text-align: center">0</td> <td style="width: 3%; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">to</div></div></div></td> <td style="width: 5%; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div></td> <td style="width: 2%; font-size: 10pt">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,724</div></td> <td style="width: 2%; font-size: 10pt">&nbsp;</td> <td style="width: 1%">&nbsp;</td> <td style="width: 14%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.7</div></td> <td style="width: 1%">&nbsp;</td> <td style="width: 2%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 14%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.64</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 2%; font-size: 10pt">&nbsp;</td> <td style="width: 1%">&nbsp;</td> <td style="width: 14%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,598</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 2%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 14%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.55</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: center">3</td> <td style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">to</div></div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,303</div></td> <td style="font-size: 10pt">&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.5</div></td> <td>&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.63</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,066</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.31</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: center">6</td> <td style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">to</div></div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">854</div></td> <td style="font-size: 10pt">&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.0</div></td> <td>&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.90</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">848</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.89</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: center">9</td> <td style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">to</div></div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,857</div></td> <td style="font-size: 10pt">&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.1</div></td> <td>&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11.00</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,383</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10.98</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: center">12</td> <td style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">to</div></div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">619</div></td> <td style="font-size: 10pt">&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.9</div></td> <td>&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12.29</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">308</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12.39</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center">15</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">to</div></div></div></td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18</div></td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">95</div></td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td>&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.5</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.39</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td>&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">47</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.39</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.25pt; font-size: 10pt; font-weight: bold; text-align: center">$</td> <td style="padding-bottom: 2.25pt; font-size: 10pt; font-weight: bold; text-align: center">0</td> <td style="padding-bottom: 2.25pt; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">to</div></div></div></td> <td style="padding-bottom: 2.25pt; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18</div></td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14,452</div></td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td>&nbsp;</td> <td style="padding-bottom: 2.25pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.8</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="padding-bottom: 2.25pt; font-size: 10pt; text-align: left">$</td> <td style="padding-bottom: 2.25pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.06</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td>&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,250</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="padding-bottom: 2.25pt; font-size: 10pt; text-align: left">$</td> <td style="padding-bottom: 2.25pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.69</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</div> </div> <!-- Field: Page; Sequence: 73; Value: 60 -->   <!-- Field: /Page --> <div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The weighted average remaining contractual life of stock option awards exercisable under the Incentive Plan at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div> was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.1</div> years.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The aggregate intrinsic value of stock option awards outstanding and exercisable under the Incentive Plan at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div> was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$7,631.</div> The aggregate intrinsic value represents the value (the period&#x2019;s closing market price, less the exercise price, times the number of in-the-money stock option awards) that would have been received by all stock option award holders under the Incentive Plan had they exercised their stock option awards at the end of the year.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The total fair value of the stock option awards vested under the Incentive Plan was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$9,310</div> during <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$6,380</div> during <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$4,492</div> during <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015.</div></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> the number of stock option awards vested and expected to vest under the Incentive Plan is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,267.</div> The weighted average exercise price of these stock option awards is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$5.95</div> and their weighted average remaining contractual life is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.8</div> years.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The following table summarizes the changes in the number and weighted-average grant-date fair value of non-vested stock option awards during <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017:</div></div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Non-Vested<br /> Stock Option<br /> Awards</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Weighted Average<br /> Grant-Date Fair<br /> Value</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 67%; font-size: 10pt">Balance December&nbsp;31, 2016</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,598</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 2%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.40</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Stock option awards granted</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,915</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.63</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Stock option awards vested</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,916</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.86</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Stock option awards forfeited</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(395</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.84</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 2.25pt">Balance December&nbsp;31, 2017</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,202</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.56</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> there was approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$17,785</div> of total unrecognized compensation cost related to non-vested employee stock option awards and restricted stock units granted by the Company. That cost is expected to be recognized as follows: <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$7,607</div> in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$5,452</div> in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2019,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$3,365</div> in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2020</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1,361</div> in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2021.</div></div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Employee Stock Purchase Plan</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company has reserved a total of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,475</div>&nbsp;shares of common stock to be purchased under the ESPP, of which <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">326</div>&nbsp;shares remain available for purchase at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017.</div> Eligible employees <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>authorize up to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15%</div> of their salary to purchase common stock at the lower of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">85%</div> of the beginning or <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">85%</div> of the ending price during <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">six</div>-month purchase intervals. <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No</div> more than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div> shares <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be purchased by any <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> employee at the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">six</div>-month purchase dates and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> employee <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>purchase stock having a fair market value at the commencement date of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$25</div> or more in any <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> calendar year.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">There were <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">95,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">75</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">41</div> shares of common stock purchased under the ESPP in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015,</div> respectively, at a weighted average price per share of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$3.61,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$4.36</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$8.65,</div> respectively. Expense of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$200,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$147</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$220</div> related to the ESPP was recognized during <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015,</div> respectively. Compensation expense for shares purchased under the ESPP related to the purchase discount and the &#x201c;look-back&#x201d; option were determined using a Black-Scholes option pricing model. The weighted average grant date fair values of shares granted under the ESPP during <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015,</div> were <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$2.18,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1.95</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$4.93,</div> respectively.</div> </div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -URI http://asc.fasb.org/topic&amp;trid=2228938<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 50<br> -URI http://asc.fasb.org/subtopic&amp;trid=2208855<br></p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 8 - Income Taxes<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureTextBlockAbstract', window );"><strong>Notes to Financial Statements</strong></a></td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureTextBlock', window );">Income Tax Disclosure [Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-weight: bold;">Note&nbsp;<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8</div>&nbsp;&#x2014; Income Taxes</div></div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company has incurred net losses since inception and, consequently, has <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> recorded any U.S.&nbsp;Federal and state income tax expense or benefit. The differences between the Company&#x2019;s effective tax rate and the statutory tax rate in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div> are as follows:</div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left">Income tax benefit at federal statutory rate</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(23,024</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(19,300</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(15,057</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">State and local income taxes net of federal tax benefit</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,611</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,173</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(819</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Permanent items</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">910</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,057</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">560</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Rate change</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">71,155</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,080</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,012</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Expiration of attribute carryforwards</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">918</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">559</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">330</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Effect of ASU 2016-09</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,949</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Research and development tax credits</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,977</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,681</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(10,454</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Orphan drug credit</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">564</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,798</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,307</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Other</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,639</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">822</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(218</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Change in valuation allowance</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(42,625</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,838</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20,339</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Income tax expense</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 2017, </div>the Tax Cuts and Jobs Act (&#x201c;TCJA&#x201d;) was signed into law. Among other things, the TCJA permanently lowers the corporate federal income tax rate to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21%</div> from the existing maximum rate of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">35%,</div> effective for tax years including or commencing <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 1, 2018. </div>As a result of the reduction of the corporate federal income tax rate to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21%,</div> U.S. GAAP requires companies to revalue their deferred tax assets and deferred tax liabilities as of the date of enactment, with the resulting tax effects accounted for in the reporting period of enactment. This revaluation resulted in a provision of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$73,474</div> to income tax expense in continuing operations and a corresponding reduction in the valuation allowance. As a result, there was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> impact on our consolidated statements of operations from the reduction in tax rate. The other provisions of the TCJA did <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> have a material impact on the consolidated financial statements.</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">We adopted ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> during the quarter ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March 31, 2017. </div>As a result of the adoption, the net federal and state operating losses deferred tax assets increased by <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$5,949</div> million and were offset by a corresponding increase in the valuation allowance. The adoption of ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> had <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> impact on our consolidated balance sheets or consolidated statements of operations.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company recognizes the impact of a tax position in its financial statements if it is more likely than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> that the position will be sustained on audit based on the technical merits of the position. The Company has concluded that it has an uncertain tax position pertaining to its research and development and orphan drug credit carryforwards. The Company has established these credits based on information and calculations it believes are appropriate and the best estimate of the underlying credit. Any changes to the Company&#x2019;s unrecognized tax benefits are offset by an adjustment to the valuation allowance and there would be <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> impact on the Company&#x2019;s financial statements. The Company does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> expect its unrecognized tax benefits to change significantly over the next <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12</div> months.</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; font-size: 10pt">Balance at January&nbsp;1,</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,255</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,085</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Additions to current period tax positions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">495</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,170</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Additions to prior period tax positions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Reductions to prior period tax provisions</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 2.25pt">Balance at December&nbsp;31,</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,750</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,255</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">The Company&#x2019;s ability to utilize the net operating loss and tax credit carryforwards in the future <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be subject to substantial restrictions in the event of past or future ownership changes as defined in Section&nbsp;<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">382</div> of the Internal Revenue Code of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1986,</div> as amended and similar state tax law.</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">Significant components of the Company&#x2019;s deferred tax assets and liabilities are as follows:</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Deferred tax assets:</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 70%; font-size: 10pt; text-align: left; text-indent: 10pt">Net federal and state operating losses</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">117,787</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">158,618</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Research and development credits</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">55,208</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">53,231</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Deferred revenue</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,854</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,484</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Stock-based compensation</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,424</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,952</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt; text-indent: 10pt">Other</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,046</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,849</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Total deferred tax assets</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">183,319</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">227,134</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Deferred tax liabilities:</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Fixed assets</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(421</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(674</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt">Foreign currency derivative</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(478</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,415</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Total deferred tax liabilities</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(899</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,089</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Valuation allowance</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(182,420</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(225,045</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Net deferred tax assets</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</div> <!-- Field: Page; Sequence: 75; Value: 60 -->   <!-- Field: /Page --> <div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">The majority of the Company&#x2019;s deferred tax assets relate to net operating loss and research and development carryforwards that can only be realized if the Company is profitable in future periods. It is uncertain whether the Company will realize any tax benefit related to these carryforwards. Accordingly, the Company has provided a full valuation allowance against the net deferred tax assets due to uncertainties as to their ultimate realization. The valuation allowance will remain at the full amount of the deferred tax assets until it is more likely than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> that the related tax benefits will be realized. The Company&#x2019;s valuation allowance decreased by <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$42,625</div> in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div> primarily because of the remeasurement required by TCJA and increased by <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$19,837</div> in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$20,339</div> in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015.</div>&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> the Company had federal operating loss carryforwards of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$484,705,</div> state net operating loss carryforwards of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$431,470,</div> and research and development and orphan drug credit carryforwards of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$59,958,</div> which will expire at various dates from <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018</div> through <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2036.</div> The federal losses begin to expire in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018,</div> the state losses begin to expire in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018</div> and the research and development credit carryforwards begin to expire in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018.</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Tax years <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> remain open to examination by the major taxing jurisdictions to which the Company is subject. Additionally, years prior to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014</div> are also open to examination to the extent of loss and credit carryforwards from those years. The Company recognizes interest and penalties accrued related to unrecognized tax benefits as components of its income tax provision. However, there were <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> provisions or accruals for interest and penalties in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015.</div></div> </div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -URI http://asc.fasb.org/topic&amp;trid=2144680<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6822137680">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 9 - Employee 401 (k) Plan<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureTextBlockAbstract', window );"><strong>Notes to Financial Statements</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-weight: bold;">Note&nbsp;<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9</div>&nbsp;&#x2014; Employee <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">401</div>(k) Plan</div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 1991, </div>the Company adopted an employee retirement plan (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x201c;401</div>(k) Plan&#x201d;) under Section&nbsp;<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">401</div>(k) of the Internal Revenue Code covering all employees. Employee contributions <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be made to the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">401</div>(k) Plan up to limits established by the Internal Revenue Service. Company matching contributions <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be made at the discretion of the Board of Directors. The Company made matching contributions of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$664,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$504</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$366,</div> in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015,</div> respectively.</div></div><span></span>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6822155232">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 10 - Collaborative and Other Research and Development Contracts<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureTextBlockAbstract', window );"><strong>Notes to Financial Statements</strong></a></td>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-weight: bold;">Note&nbsp;<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10</div>&nbsp;&#x2014; Collaborative and Other Research and Development Contracts</div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><div style="display: inline; font-style: italic;">National Institute of Allergy and Infectious Diseases (&#x201c;NIAID/HHS&#x201d;).</div> In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 2013, </div>NIAID/HHS contracted with the Company for the development of galidesivir as a treatment for Marburg virus disease. NIAID/HHS, part of the National Institutes of Health, made an initial award of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$5,000</div> to the Company. The goals of this contract, including amendments, are to file IND applications for intravenous (&#x201c;i.v.&#x201d;) and intramuscular (&#x201c;i.m.&#x201d;) galidesivir for the treatment of Marburg virus disease and other hemorrhagic fever virus diseases, including Ebola virus disease, and to conduct an initial Phase <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div> human clinical trial. As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div>the total NIAID/HHS contract amount to advance the program through the completion of the Phase I clinical program is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$39,477.</div> As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div>all options have been exercised under this contract.</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"><div style="display: inline; font-style: italic;">U.S.&nbsp;Department of Health and Human Services (&#x201c;BARDA/HHS&#x201d;).</div> On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March 31, 2015, </div>the Company announced that BARDA/HHS had awarded the Company a contract for the continued development of galidesivir as a potential treatment for diseases caused by RNA pathogens, including filoviruses.&nbsp;This BARDA/HHS contract includes a base contract of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$16,265</div> to support galidesivir drug manufacturing, as well as <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$22,855</div> in additional development options that can be exercised by the government, bringing the potential value of the contract to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$39,120.</div> As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div>a total of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$20,574</div> has been awarded under exercised options within this contract.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">The contracts with NIAID/HHS and BARDA/HHS are cost-plus-fixed-fee contracts. That is, the Company is entitled to receive reimbursement for all costs incurred in accordance with the contract provisions that are related to the development of galidesivir plus a fixed fee, or profit. BARDA/HHS and NIAID/HHS will make periodic assessments of progress and the continuation of the contract is based on the Company&#x2019;s performance, the timeliness and quality of deliverables, and other factors. The government has rights under certain contract clauses to terminate these contracts. These contracts are terminable by the government at any time for breach or without cause.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><div style="display: inline; font-style: italic;">Seqirus UK Limited (&#x201c;SUL&#x201d;).</div> On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 16, 2015, </div>the Company and Seqirus UK Limited (&quot;SUL&quot;), a limited company organized under the laws of the United Kingdom and a subsidiary of CSL Limited, a company organized under the laws of Australia, entered into a License Agreement (the &quot;SUL Agreement&quot;) granting SUL and its affiliates worldwide rights to develop, manufacture and commercialize RAPIVAB (peramivir injection) for the treatment of influenza except for the rights to conduct such activities in Israel, Japan, Korea and Taiwan (the permitted geographies together constituting the &quot;Territory&quot;). Peramivir is an intravenous treatment for acute uncomplicated influenza and is currently approved for use in the United States, Canada, Japan, Taiwan and Korea. Peramivir is the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">first</div> and only intravenous influenza treatment in the world and was approved by the U.S. Food and Drug Administration in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 2014 </div>for the treatment of acute uncomplicated influenza in patients <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18</div> years and older who have been symptomatic for <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> more than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div> days. The Company retains all rights and associated economics to procure pandemic stockpiling orders for RAPIVAB from the U.S. Government, while SUL has the right to pursue government stockpiling outside the U.S.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <!-- Field: Page; Sequence: 76; Value: 60 -->   <!-- Field: /Page --> <div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Pursuant to the SUL Agreement, RAPIVAB will be commercialized by CSL's subsidiary, SUL, which specializes in influenza prevention through the supply of seasonal and pandemic vaccine to global markets. SUL will manufacture, commercialize and exercise decision-making authority with respect to the development and commercialization of RAPIVAB within the Territory and be responsible for all related costs, including sales and promotion.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">Under the terms of the SUL Agreement, the Company is responsible for fulfilling all post-marketing approval commitments in connection with the FDA's approval of the NDA, and upon fulfillment will transfer ownership of and financial responsibility for the NDA to SUL. Pursuant to potential rights to sell RAPIVAB in Canada and the EU, the Company is also responsible for regulatory filings and interactions with the Health Canada and the European Medicines Agency (&quot;EMA&quot;) until marketing approval for RAPIVAB is obtained and assigned to SUL. In accordance with the SUL Agreement, the Company and SUL formed a joint steering committee, composed of an equal number of representatives from each party, to oversee, review and coordinate the conduct and progress of the commercialization of RAPIVAB in the Territory and any additional development.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">Under the terms of the SUL Agreement, the Company received an upfront payment of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$33,740,</div> has received <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$7,000</div> of milestone payments and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>receive an additional <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$5,000</div> milestone payment related to the successful marketing approval by the EMA for an adult indication in the EU (ALPIVAB). The Company is also entitled under the SUL Agreement to receive tiered royalties at a percentage rate beginning in the mid-teens contingent upon meeting minimum thresholds of net sales, as well as a low-thirties percentage of the gross profit from government stockpiling purchases made outside the U.S. Specifically, the Company receives tiered royalties at a percentage rate in the mid-teens to low-forties on net sales in the U.S. during a Contract Year (defined as <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> July 1 - </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 30) </div>and tiered royalties at a percentage rate in the mid-teens to mid-twenties on net sales in the Territory, other than in the U.S., during a Calendar Year, each subject to certain downward adjustments for circumstance or events impacting the overall market opportunity. SUL's royalty payment obligations commence on the date of the SUL Agreement and expire, on a country-by-country basis, upon the later of (i) the expiration of legal exclusivity in such country and (ii) <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">ten</div> years from the date of the SUL Agreement (the &quot;Royalty Term&quot;). The Company developed peramivir under a license from UAB and will owe sublicense payments to them on any future milestone payments and/or royalties received by the Company from SUL.</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;&nbsp;&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><div style="display: inline; font-style: italic;">Shionogi&nbsp;&amp; Co., Ltd. (&#x201c;Shionogi&#x201d;).</div> In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> February 2007, </div>the Company entered into an exclusive license agreement with Shionogi to develop and commercialize peramivir in Japan for the treatment of seasonal and potentially life-threatening human influenza. Under the terms of the agreement, Shionogi obtained rights to injectable formulations of peramivir in Japan. The Company developed peramivir under a license from UAB and will owe sublicense payments to them on any future milestone payments and/or royalties received by the Company from Shionogi. In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> October 2008, </div>the Company and Shionogi amended the license agreement to expand the territory covered by the agreement to include Taiwan. Shionogi has commercially launched peramivir under the commercial name RAPIACTA in Japan and Taiwan.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 2017, </div>the Company, on behalf of Royalty Sub, instituted arbitration proceedings against Shionogi in order to resolve&nbsp;a dispute with Shionogi under the Shionogi Agreement regarding the achievement of sales milestones and escalating royalties.&nbsp;In the event that the Company prevails in the arbitration, any amounts realized in the arbitration or in respect of the milestone payments and escalating royalties that are the subject of the arbitration would be for the benefit of Royalty Sub and be used by Royalty Sub to service its obligations under the non-recourse PhaRMA Notes (except for any amounts realized by the Company in respect of royalties relating to sales to Japanese governmental entities, which amounts would be retained by the Company). The costs associated with the arbitration proceedings are expected to be paid out of the assets of Royalty Sub in accordance with the terms of the indenture and servicing agreement relating to the PhaRMA Notes, except to the extent such costs are recovered in connection with any arbitration award in favor of the Company and Royalty Sub if they prevail in the arbitration proceedings. Arbitration proceedings, like other legal proceedings, are inherently uncertain. As a result, the Company cannot assure you that the Company will prevail in the arbitration. As any arbitration award in favor of the Company would accrue primarily to the benefit of Royalty Sub and the holders of the PhaRMA Notes, and because the costs associated with the arbitration proceedings are expected to come out of the assets of Royalty Sub if <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> recovered as part of any arbitration award in favor of the Company and Royalty Sub, the Company does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> currently anticipate that these arbitration proceedings will have a material adverse impact on the Company.</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><div style="display: inline; font-style: italic;">Green Cross Corporation (&#x201c;Green Cross&#x201d;).</div> In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 2006, </div>the Company entered into an agreement with Green Cross to develop and commercialize peramivir in Korea. Under the terms of the agreement, Green Cross will be responsible for all development, regulatory, and commercialization costs in Korea. The Company received a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div>-time license fee of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$250.</div> The license also provides that the Company will share in profits resulting from the sale of peramivir in Korea, including the sale of peramivir to the Korean government for stockpiling purposes. Furthermore, Green Cross will pay the Company a premium over its cost to supply peramivir for development and any future marketing of peramivir products in Korea.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><div style="display: inline; font-style: italic;"></div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"><div style="display: inline; font-style: italic;">Mundipharma International Holdings Limited (&#x201c;Mundipharma&#x201d;).</div> In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> February 2006, </div>the Company entered into an exclusive, royalty bearing right and license agreement with Mundipharma for the development and commercialization of Mundesine, a Purine Nucleoside Phosphorylase (&#x201c;PNP&#x201d;) inhibitor, for use in oncology (the &#x201c;Original Agreement&#x201d;). Under the terms of the Original Agreement, Mundipharma obtained rights to Mundesine in markets across Europe, Asia, and Australasia in exchange for a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$10,000</div> up-front payment.</div> <div style=" font-size: 10pt; text-align: center; text-indent: 27pt; margin: 0pt 0"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> </div> <!-- Field: Page; Sequence: 77; Value: 60 -->   <!-- Field: /Page --> <div> <div style=" font-size: 10pt; text-align: center; margin: 0pt 0"><div style="display: inline; font-weight: bold;"></div></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">The Company deferred revenue recognition of the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$10,000</div> up-front payment that was received from Mundipharma in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> February&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2006</div> because the Company was involved in the continued development of Mundesine. Amortization of this revenue commenced in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> February 2006 </div>and was initially scheduled to end in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> October 2017, </div>which is the date of expiration for the last-to-expire patent covered by the agreement. The Company also deferred revenue recognition of a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$5,000</div> payment received from Mundipharma in connection with the initiation of a clinical trial in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2007.</div> Amortization of this revenue commenced in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2007</div> and was initially scheduled to end in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> October 2017. </div>Under its agreement with AECOM/IRL, the Company paid sublicense payments related to these upfront cash payments received from Mundipharma. Expense recognition of these sublicense payments was deferred and recognized under the same term as the related deferred revenue.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> November&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2011,</div> the Company entered into the Amended and Restated License and Development Agreement (the &#x201c;Amended and Restated Agreement&#x201d;) with Mundipharma, amending and restating the Original Agreement. Under the terms of the Amended and Restated Agreement, Mundipharma obtained worldwide rights to Mundesine. Commencing on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> November&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2011,</div> Mundipharma controls the development and commercialization of Mundesine and assumes all future development and commercialization costs. The Amended and Restated Agreement provides for the possibility of future event payments totaling <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$15,000</div> for achieving specified regulatory events for certain indications and tiered royalties ranging from mid to high single-digit percentages of net product sales in each country where Mundesine is sold by Mundipharma. These royalties are subject to downward adjustments based on the then-existing patent coverage and/or the availability of generic compounds in each country.</div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">The Amended and Restated Agreement is a multiple element arrangement for accounting purposes, in which the Company is required to deliver to Mundipharma both the worldwide rights to Mundesine in the field of oncology and the transfer of product data and know-how to permit Mundipharma to develop and commercialize Mundesine (the &#x201c;Knowledge Transfer&#x201d;). The Company accounted for these elements as a combined unit of accounting as they do <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> have stand-alone value to Mundipharma. The worldwide license rights were granted to Mundipharma on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> November&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2011</div> and the Knowledge Transfer was completed during the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">first</div> quarter of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2012.</div> Upon completion of the Knowledge Transfer, the remaining deferred revenue and deferred expense was recognized in full.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><div style="display: inline; font-style: italic;">Albert Einstein College of Medicine of Yeshiva University and Industrial Research, Ltd. (&#x201c;AECOM&#x201d; and &#x201c;IRL&#x201d; respectively).</div> In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 2000, </div>the Company licensed a series of potent inhibitors of PNP from AECOM and IRL, (collectively, the &#x201c;Licensors&#x201d;). The lead product candidates from this collaboration are forodesine and ulodesine. The Company has obtained worldwide exclusive rights to develop and ultimately distribute these, or any other, product candidates that might arise from research on these inhibitors. The Company has the option to expand the Agreement to include other inventions in the field made by the investigators or employees of the Licensors. The Company agreed to use commercially reasonable efforts to develop these drugs. In addition, the Company has agreed to pay certain milestone payments for each licensed product (which range in the aggregate from <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1,400</div> to almost <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$4,000</div>&nbsp;per indication) for future development of these inhibitors, single digit royalties on net sales of any resulting product made by the Company, and to share approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> quarter of future payments received from other <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div>-party partners, if any. In addition, the Company has agreed to pay annual license fees, which can range from <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$150</div> to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$500,</div> that are creditable against actual royalties and other payments due to the Licensors. This agreement <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be terminated by the Company at any time by giving <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">60</div>&nbsp;days advance notice or in the event of material uncured breach by the Licensors.&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May 2010, </div>the Company amended the licensee agreement through which the Company obtained worldwide exclusive rights to develop and ultimately distribute any product candidates that might arise from research on a series of PNP inhibitors, including forodesine and ulodesine. Under the terms of the amendment, the Licensors agreed to accept a reduction of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div>-half in the percentage of future payments received from <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div>-party sub licensees of the licensed PNP inhibitors that must be paid to the Licensors. This reduction does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> apply to (i)&nbsp;any milestone payments the Company <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>receive in the future under its license agreement dated <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> February&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2006</div> with Mundipharma and (ii)&nbsp;royalties received from its sub licensees in connection with the sale of licensed products, for which the original payment rate will remain in effect. The rate of royalty payments to the Licensors based on net sales of any resulting product made by the Company remains unchanged.&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In consideration for these modifications in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2010,</div> the Company issued to the Licensors shares of its common stock with an aggregate value of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$5,911</div> and paid the Licensors <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$90</div> in cash. Additionally, at the Company&#x2019;s sole option and subject to certain agreed upon conditions, any future non-royalty payments due to be paid by it to the Licensors under the license agreement <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be made either in cash, in shares of its common stock, or in a combination of cash and shares.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> November&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2011,</div> the Company further amended its agreements with the Licensors whereby the Licensors agreed to accept a reduction of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div>-half in the percentage of Net Proceeds (as defined) received by the Company under its Amended and Restated Agreement with Mundipharma that will be paid to AECOM/IRL.&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2012,</div> the Company further amended its agreements with AECOM/IRL whereby the parties clarified the definition of the field with respect to PNP inhibition and AECOM/IRL agreed to exclusive worldwide license of galidesivir to BioCryst for any antiviral use.&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> </div> <!-- Field: Page; Sequence: 78; Value: 60 -->   <!-- Field: /Page --> <div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">At its sole option and subject to certain agreed upon conditions, any future non-royalty payments due to be paid by the Company to AECOM/IRL under the license agreement <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be made either in cash, in shares of the Company&#x2019;s common stock, or in a combination of cash and shares.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 6, 2014, </div>the Carbohydrate Chemistry Research Team from Callaghan Innovation Research Limited, formerly Industrial Research Limited, transferred to Victoria University of Wellington (&#x201c;VUW&#x201d;) to establish the Ferrier Research Institute. The intellectual property rights relating to this research team, and the contracts relating to that intellectual property were transferred to a wholly owned subsidiary of VUW, including the contracts to which BioCryst is a party. The parties executed novation agreements in order to effectuate the transfer. Except for a substitution of parties, the terms and conditions of the contracts are substantially the same</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"><div style="display: inline; font-style: italic;">The University of Alabama at Birmingham (&#x201c;UAB&#x201d;).</div> The Company currently has agreements with UAB for influenza neuraminidase and complement inhibitors. Under the terms of these agreements, UAB performed specific research for the Company in return for research payments and license fees. UAB has granted the Company certain rights to any discoveries in these areas resulting from research developed by UAB or jointly developed with the Company. The Company has agreed to pay single digit royalties on sales of any resulting product and to share in future payments received from other <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div>-party partners. The Company has completed the research under the UAB agreements. These <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div> agreements have initial <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25</div>-year terms, are automatically renewable for <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">five</div>-year terms throughout the life of the last patent and are terminable by the Company upon <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> months&#x2019; notice and by UAB under certain circumstances. Upon termination both parties shall cease using the other parties&#x2019; proprietary and confidential information and materials, the parties shall jointly own joint inventions and UAB shall resume full ownership of all UAB licensed products. There is currently <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> activity between the Company and UAB on these agreements, but when the Company licenses this technology, such as in the case of the Shionogi, Green Cross and SUL agreements, or commercializes products related to these programs, the Company will owe sublicense fees or royalties on amounts it receives.</div> </div></div><span></span>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 11 - Quarterly Financial Information (Unaudited)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-weight: bold;">Note&nbsp;<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11</div>&nbsp;&#x2014; Quarterly Financial Information (Unaudited)</div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">First</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Second</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Third</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Fourth</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">2017 Quarters</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 48%; font-size: 10pt; text-indent: 10pt">Revenues</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,437</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,099</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,760</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,890</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Net Loss</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(14,219</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(16,886</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(15,134</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(19,543</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Basic and diluted net loss per share</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.19</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.21</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.18</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.20</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">2016 Quarters</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-indent: 10pt">Revenues</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,820</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,787</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,763</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,983</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Net Loss</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(22,832</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(16,281</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(11,528</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,503</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Basic and diluted net loss per share</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.31</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.22</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.16</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.06</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr>  </table> </div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 270<br> -URI http://asc.fasb.org/topic&amp;trid=2126967<br></p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 12 - Recent Accounting Pronouncements<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureTextBlockAbstract', window );"><strong>Notes to Financial Statements</strong></a></td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock', window );">New Accounting Pronouncements and Changes in Accounting Principles [Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-weight: bold;">Note&nbsp;<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12</div>&nbsp;&#x2014; Recent Accounting Pronouncements</div> &nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 22, 2017, </div>the SEC staff issued Staff Accounting Bulletin <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">118</div> (&#x201c;SAB <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">118&#x201d;</div>), which provides guidance on accounting for the tax effects of the Tax Cuts and Jobs Act (&#x201c;TCJA&#x201d;). SAB <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">118</div> provides a measurement period that should <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> extend beyond <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> year from the TCJA enactment date for companies to complete the accounting under ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">740,</div> Income Taxes. As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div>the Company has <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> completed its accounting related to the enactment of the Tax Act.&nbsp;However, the Company has made reasonable estimates of the effects on its income tax provision with respect to certain items, primarily the revaluation of its existing U.S. deferred tax balances as described in Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> November 2016, </div>the Financial Accounting Standards Board (&#x201c;FASB&#x201d;) issued Accounting Standards Update <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18:</div> <div style="display: inline; font-style: italic;">Statement of Cash Flows (Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">230</div>): Restricted Cash</div> (&#x201c;ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18&#x201d;</div>). The new standard requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The standard is effective for annual periods beginning after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> and interim periods within those annual reporting periods. Early adoption is permitted. The Company is currently evaluating the impact of this update on its consolidated financial statements.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> August 2016, </div>the FASB issued Accounting Standards Update <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15:</div> <div style="display: inline; font-style: italic;">Statement of Cash Flows (Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">230</div>): Classification of Certain Cash Receipts and Cash Payments</div> (&#x201c;ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15&#x201d;</div>). The amendments in this update clarify how entities should classify certain cash receipts and cash payments on the Consolidated Statements of Cash Flows. The new guidance also clarifies how the predominance principle should be applied when cash receipts and cash payments have aspects of more than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> class of cash flows. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15</div> will be effective for annual periods beginning after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 15, 2017, </div>including interim periods within those annual reporting periods, but early adoption is permitted. The Company is currently evaluating the impact of this update on its consolidated financial statements.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <!-- Field: Page; Sequence: 79; Value: 60 -->   <!-- Field: /Page --> <div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March 2016, </div>the FASB issued Accounting Standards Update <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09:</div> <div style="display: inline; font-style: italic;">Compensation - Stock Compensation (Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">718</div>): Improvements to Employee Share-Based Payment Accounting</div> (&#x201c;ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09&#x201d;</div>). The amendments in this update simplify several aspects of the accounting for employee share-based payment transactions, including the accounting for income taxes, forfeitures and statutory tax withholding requirements, as well as classification in the statement of cash flows. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> eliminates the requirement that excess tax benefits be realized as a reduction in current taxes payable before the associated tax benefit can be recognized as an increase in paid in capital. Under ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09,</div> these previously unrecognized deferred tax assets were recognized on a modified retrospective basis as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 1, 2017, </div>the start of the year in which the Company adopted ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09.</div> The U.S. federal and state net operating losses and credits recognized as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 1, 2017 </div>have been offset by a full valuation allowance. As a result, there is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> cumulative-effect adjustment to retained earnings as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017. </div>The Company elected <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> to change its policy on accounting for forfeitures and continues to estimate the total number of awards for which the requisite service period will <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> be rendered. The Company adopted ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 1, 2017. </div>Adoption of ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> did <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> have a material impact on the Company&#x2019;s consolidated financial statements.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> February 2016, </div>the FASB issued Accounting Standards Update <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02:</div> <div style="display: inline; font-style: italic;">Leases (Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">842</div>)</div> (&#x201c;ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02&#x201d;</div>). The amendments in this update require lessees, among other things, to recognize lease assets and lease liabilities on the balance sheet for all leases with terms greater than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12</div> months. This update also introduces new disclosure requirements for leasing arrangements. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02</div> will be effective for the Company in fiscal year <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2019,</div> but early adoption is permitted. The Company is currently evaluating the impact of this update on its consolidated financial statements.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 2016, </div>the FASB issued Accounting Standards Update <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">01:</div> <div style="display: inline; font-style: italic;">Financial Instruments - Overall (Subtopic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">825</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10</div>): Recognition and Measurement of Financial Assets and Financial Liabilities</div> (&#x201c;ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">01&#x201d;</div>). The amendments in this update address certain aspects of recognition, measurement, presentation and disclosure of financial instruments. In particular, the amendments in this update supersede, for public business entities, the requirement to disclose the methods and significant assumptions used in calculating the fair value of financial instruments required to be disclosed for financial instruments measured at amortized cost on the balance sheet. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">01</div> will be effective for the Company in fiscal year <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018,</div> but early adoption is permitted. The Company does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> expect this standard to have a material impact on its consolidated financial statements.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> July 2015, </div>the FASB issued Accounting Standards Update <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11:</div> <div style="display: inline; font-style: italic;">Inventory (Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">330</div>): Simplifying the Measurement of Inventory</div> (&#x201c;ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11&#x201d;</div>), which changes the measurement principle for inventory from the lower of cost or market to the lower of cost and net realizable value. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11</div> defines net realizable value as the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. The update does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> apply to inventory that is measured using last-in, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">first</div>-out or the retail inventory method. The update applies to all other inventory, which includes inventory that is measured using <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">first</div>-in, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">first</div>-out or average cost methods. The amendments in ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11</div> are effective for the Company for fiscal years, and the interim periods within those years, beginning after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 15, 2016. </div>The Company adopted ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11</div> as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 1, 2017. </div>Adoption did <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> have a material impact on its consolidated financial statements.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May 2014, </div>the FASB issued Standards Update <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09:</div> <div style="display: inline; font-style: italic;">Revenue from Contracts with Customers (Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">606</div>)</div> (&#x201c;ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09&#x201d;</div>), which provides a single, comprehensive revenue recognition model for all contracts with customers. The core principal of this ASU is that an entity should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> July 2015, </div>the FASB finalized a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> year delay in the effective date of this standard, which will now be effective <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 1, 2018; </div>however, early adoption is permitted any time after the original effective date, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 1, 2017. </div>Companies can transition to the new standard under the full retrospective method or the modified retrospective method. The Company will adopt the standard effective <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 1, 2018 </div>and expects to utilize the modified retrospective methodology. The Company is continuing to evaluate the effect that the standard will have on its consolidated financial statements and related disclosures.</div> </div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -URI http://asc.fasb.org/topic&amp;trid=2122394<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6822171648">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 13 Subsequent Even<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureTextBlockAbstract', window );"><strong>Notes to Financial Statements</strong></a></td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventsTextBlock', window );">Subsequent Events [Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><div style="display: inline; font-weight: bold;">Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13</div>&nbsp;&#x2014; Subsequent Event</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></div> <div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Agreement and Plan of Merger</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018,</div>&nbsp;BioCryst, Idera Pharmaceuticals, Inc. (&#x201c;Idera&#x201d;), a Delaware corporation, Nautilus Holdco,&nbsp;Inc., a Delaware corporation and a direct, wholly owned subsidiary of BioCryst (&#x201c;Holdco&#x201d;),&nbsp;Island Merger Sub,&nbsp;Inc., a Delaware corporation and a direct, wholly owned subsidiary of Holdco (&#x201c;Merger Sub A&#x201d;), and Boat Merger Sub,&nbsp;Inc., a Delaware corporation and a direct, wholly owned subsidiary of Holdco (&#x201c;Merger Sub B&#x201d;), entered into an Agreement and Plan of Merger (the &#x201c;Merger Agreement&#x201d;). Pursuant to the Merger Agreement, and subject to the satisfaction or waiver of the conditions specified therein, (a)&nbsp;Merger Sub A shall be merged with and into Idera (the &#x201c;Idera Merger&#x201d;), with Idera surviving as a wholly owned subsidiary of Holdco, and (b)&nbsp;Merger Sub B shall be merged with and into BioCryst (the &#x201c;BioCryst Merger&#x201d;, and, together with the Idera Merger, the &#x201c;Mergers&#x201d;), with BioCryst surviving as a wholly owned subsidiary of Holdco. Holdco will be renamed prior to the closing of the Mergers.</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&nbsp;</div> <!-- Field: Page; Sequence: 80; Value: 60 -->   <!-- Field: /Page --> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt">Pursuant to the Merger Agreement, <div style="display: inline; color: #333333">u</div>pon completion of the Mergers, each issued and outstanding share of Idera common stock will be converted into the right to receive <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.20</div> shares of Holdco common stock (the &quot;Idera exchange ratio&quot;), and each issued and outstanding share of BioCryst common stock will be converted into the right to receive <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.50</div> shares of Holdco common stock (the &quot;BioCryst exchange ratio&quot; and together with the Idera exchange ratio, the &quot;exchange ratios&quot;). The exchange ratios will <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> be adjusted for changes in the market price of either BioCryst common stock or Idera common stock between the date of signing of the Merger Agreement and completion of the Mergers. Upon completion of the Mergers, each issued and outstanding share of Idera preferred stock (with certain exceptions) will be converted into the right to receive an amount of Holdco common stock based on its liquidation preference.</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt; color: #333333">&nbsp;</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"><div style="display: inline; color: #333333">The Merger Agreement has been unanimously approved by the boards of directors of BioCryst and Idera.&nbsp;The transaction is subject to approval by the stockholders of both companies, as well as regulatory approvals and satisfaction of other customary closing conditions.&nbsp;On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> February 15, 2018, </div>the Federal Trade Commission notified BioCryst that its request for early termination of the waiting period under the HSR Act had been granted. </div>Affiliates of Baker Bros. Advisors, LP (&quot;Baker Brothers&quot;), which, as of the date of the Merger Agreement, are the beneficial owner of approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14%</div> of issued and outstanding BioCryst common stock and approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9%</div> of issued and outstanding Idera common stock, have agreed, among other things, to vote their shares of BioCryst common stock and Idera common stock in favor of the proposal to adopt the Merger Agreement at each of the BioCryst special meeting and Idera special meeting. <div style="display: inline; color: #333333">The combined company, which will be renamed post-closing, will be headquartered in Exton, PA, at the current Idera headquarters, with a consolidated research center in Birmingham, AL, at the current BioCryst facility. The transaction is expected to be completed during the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">second</div> quarter of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018.</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-weight: bold;"></div></div> <div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-weight: bold;"></div></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March 6, 2018, </div>a purported stockholder of&nbsp;BioCryst&nbsp;filed a putative class action lawsuit against&nbsp;BioCryst, the BioCryst board of directors, Idera, Holdco, Merger Sub A and Merger Sub B&nbsp;in the United States District Court for the District of Delaware, captioned&nbsp;<div style="display: inline; font-style: italic;">Melvyn Klein v. BioCryst Pharmaceuticals, Inc., et al.</div>, Case <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1:18</div>-cv-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">00358</div>-UNA. The complaint alleges that the&nbsp;defendants violated Sections <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14</div>(a) and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20</div>(a) of the Exchange Act because the preliminary Form S-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4</div> filed with&nbsp;the Securities and Exchange Commission allegedly contains material omissions and misstatements.&nbsp;The&nbsp;complaint seeks, among other things, injunctive relief preventing the consummation of the Mergers until&nbsp;additional disclosures are made, and damages. The defendants believe that the action is without merit.</div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 855<br> -URI http://asc.fasb.org/topic&amp;trid=2122774<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6817491360">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies (Policies)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Accounting Policies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_DescriptionOfCompanyPolicyTextBlock', window );">Description of Company [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">The Company</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">BioCryst Pharmaceuticals, Inc. (the &#x201c;Company&#x201d;) is a biotechnology company that designs, optimizes and develops novel small molecule drugs that block key enzymes involved in the pathogenesis of diseases. The Company focuses on oral treatments for rare diseases in which significant unmet medical needs exist and that align with its capabilities and expertise. The Company was incorporated in Delaware in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1986</div> and its headquarters is located in Durham, North Carolina. The Company integrates the disciplines of biology, crystallography, medicinal chemistry and computer modeling to discover and develop small molecule pharmaceuticals through the process known as structure-guided drug design. BioCryst has incurred losses and negative cash flows from operations since inception.&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">With the funds available at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div>the Company believes these resources will be sufficient to fund its operations at least through the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div> quarter of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2019.</div> The Company has sustained operating losses for the majority of its corporate history and expects that its <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018</div> expenses will exceed its <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018</div> revenues. The Company expects to continue to incur operating losses and negative cash flows until revenues reach a level sufficient to support ongoing operations. Accordingly, its planned operations raise doubt about its ability to continue as a going concern beyond the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div> quarter of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2019.</div> The Company&#x2019;s liquidity needs will be largely determined by the success of operations in regards to the progression of its product candidates in the future. The Company also <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>consider other plans to fund operations beyond the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div> quarter of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2019</div> including: (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div>)&nbsp;securing or increasing U.S. Government funding of its programs, including obtaining procurement contracts; (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div>)&nbsp;out-licensing rights to certain of its products or product candidates, pursuant to which the Company would receive cash milestones; (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div>)&nbsp;raising additional capital through equity or debt financings or from other sources; (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4</div>)&nbsp;obtaining additional product candidate regulatory approvals, which would generate revenue, milestones and cash flow; (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div>)&nbsp;reducing spending on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> or more research and development programs, including by discontinuing development; and/or (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6</div>)&nbsp;restructuring operations to change its overhead structure. The Company <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>issue securities, including common stock, preferred stock, depositary shares, stock purchase contracts, warrants and units, through private placement transactions or registered public offerings in the future. The Company&#x2019;s future liquidity needs, and ability to address those needs, will largely be determined by the success of its product candidates and key development and regulatory events and its decisions in the future.</div></div></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BasisOfAccountingPolicyPolicyTextBlock', window );">Basis of Accounting, Policy [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Basis of Presentation</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, JPR Royalty Sub LLC (&#x201c;Royalty Sub&#x201d;) and MDCP, LLC (&#x201c;MDCP&#x201d;). Both subsidiaries were formed to facilitate financing transactions for the Company. Royalty Sub was formed in connection with a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$30,000</div>&nbsp;financing transaction the Company completed on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2011.</div> See Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,</div> Royalty Monetization, for a further description of this transaction. MDCP was formed in connection with a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$23,000</div> Senior Credit Facility that the Company closed on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 23, 2016. </div>See Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,</div> Senior Credit Facility, for a further description of this transaction. All intercompany transactions and balances have been eliminated.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company&#x2019;s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (&#x201c;U.S. GAAP&#x201d;). Such consolidated financial statements reflect all adjustments that are, in management&#x2019;s opinion, necessary to present fairly, in all material respects, the Company&#x2019;s consolidated financial position, results of operations, and cash flows. There were <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> adjustments other than normal recurring adjustments.</div></div></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPolicyTextBlock', window );">Cash and Cash Equivalents, Policy [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Cash and Cash Equivalents</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company generally considers cash equivalents to be all cash held in commercial checking accounts, certificates of deposit, money market accounts or investments in debt instruments with maturities of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> months or less at the time of purchase. The carrying value of cash and cash equivalents approximates fair value due to the short-term nature of these items.</div></div></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy', window );">Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Restricted Cash</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Restricted cash as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 </div>reflects <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1,876</div> in royalty revenue paid by Shionogi&nbsp;&amp; Co., Ltd. (&#x201c;Shionogi&#x201d;) designated for interest on the PhaRMA Notes (defined in Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div>) and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1,410</div> the Company is required to maintain as collateral for a letter of credit associated with the lease execution and build-out of its new Birmingham research facilities.&nbsp;</div></div></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentPolicyTextBlock', window );">Investment, Policy [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Investments</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company invests in high credit quality investments in accordance with its investment policy, which is designed to minimize the possibility of loss. The objective of the Company&#x2019;s investment policy is to ensure the safety and preservation of invested funds, as well as maintaining liquidity sufficient to meet cash flow requirements. The Company places its excess cash with high credit quality financial institutions, commercial companies, and government agencies in order to limit the amount of its credit exposure. In accordance with its policy, the Company is able to invest in marketable debt securities that <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>consist of U.S. Government and government agency securities, money market and mutual fund investments, municipal and corporate notes and bonds, commercial paper and asset or mortgage-backed securities, among others. The Company&#x2019;s investment policy requires it to purchase high-quality marketable securities with a maximum individual maturity of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> years and requires an average portfolio maturity of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> more than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18</div> months. Some of the securities the Company invests in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>have market risk. This means that a change in prevailing interest rates <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>cause the principal amount of the investment to fluctuate. To minimize this risk, the Company schedules its investments with maturities that coincide with expected cash flow needs, thus avoiding the need to redeem an investment prior to its maturity date. Accordingly, the Company does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> believe it has a material exposure to interest rate risk arising from its investments. Generally, the Company&#x2019;s investments are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> collateralized. The Company has <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> realized any significant losses from its investments.</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</div> <!-- Field: Page; Sequence: 61; Value: 60 --> <!-- Field: /Page --> <div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company classifies all of its investments as available-for-sale. Unrealized gains and losses on investments are recognized in comprehensive loss, unless an unrealized loss is considered to be other than temporary, in which case the unrealized loss is charged to operations. The Company periodically reviews its investments for other than temporary declines in fair value below cost basis and whenever events or changes in circumstances indicate that the carrying amount of an asset <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> be recoverable. The Company believes the individual unrealized losses represent temporary declines primarily resulting from interest rate changes. Realized gains and losses are reflected in interest and other income in the Consolidated Statements of Comprehensive Loss and are determined using the specific identification method with transactions recorded on a settlement date basis. Investments with original maturities at date of purchase beyond <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> months and which mature at or less than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12</div> months from the balance sheet date are classified as current. Investments with a maturity beyond <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12</div> months from the balance sheet date are classified as long-term. At <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div>the Company believes that the cost of its investments is recoverable in all material respects.&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The following tables summarize the fair value of the Company&#x2019;s investments by type. The estimated fair values of the Company&#x2019;s fixed income investments are classified as Level <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div> in the fair value hierarchy as defined in U.S. GAAP. These valuations are based on observable direct and indirect inputs, primarily quoted prices of similar, but <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> identical, instruments in active markets or quoted prices for identical or similar instruments in markets that are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> active. These fair values are obtained from independent pricing services which utilize Level <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div> inputs.</div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="19" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2017</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amortized<br /> Cost</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Accrued<br /> Interest</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Gross<br /> Unrealized<br /> Gains</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Gross<br /> Unrealized<br /> Losses</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Estimated<br /> Fair Value</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%; font-size: 10pt; text-align: left; text-indent: -10pt; padding-left: 10pt">Obligations of U.S. Government and its agencies</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">60,121</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">177</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(122</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">60,176</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Corporate debt securities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">34,021</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">203</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(108</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">34,116</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Certificates of deposit</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,099</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">32</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(14</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,118</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Total investments</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">105,241</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">412</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(244</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">105,410</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table> </div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="19" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2016</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amortized<br /> Cost</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Accrued<br /> Interest</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Gross<br /> Unrealized<br /> Gains</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Gross<br /> Unrealized<br /> Losses</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Estimated<br /> Fair Value</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%; font-size: 10pt; text-align: left; text-indent: -10pt; padding-left: 10pt">Obligations of U.S. Government and its agencies</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20,266</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">34</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20,298</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Corporate debt securities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,179</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(8</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,199</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Certificates of deposit</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14,962</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(11</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14,975</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Total investments</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">41,407</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">77</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(23</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">41,472</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table> </div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The following table summarizes the scheduled maturity for the Company&#x2019;s investments at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016.</div></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 67%; font-size: 10pt; text-align: left">Maturing in one year or less</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">64,115</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 2%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">32,546</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Maturing after one year through two years</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">34,257</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,926</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Maturing after two years</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,038</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Total investments</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">105,410</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">41,472</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table></div></div></div></div><span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReceivablesPolicyTextBlock', window );">Receivables, Policy [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; margin: 0pt 0"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Receivable from Collaborations</div></div> &nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Receivables from collaborations are recorded for amounts due to the Company related to reimbursable research and development costs from the U.S. Department of Health and Human Services, royalty receivables from Shionogi, Green Cross Corporation (&#x201c;Green Cross&#x201d;), Mundipharma International Holdings Limited (&#x201c;Mundipharma&#x201d;) and Seqirus UK Limited (&#x201c;SUL&#x201d;), and product sales to SUL. These receivables are evaluated to determine if any reserve or allowance should be established at each reporting date. At <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> the Company had the following receivables.</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December&nbsp;31, 2017</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Billed</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Unbilled</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; font-size: 10pt; text-align: left">U.S. Department of Health and Human Services</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">42</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,020</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,062</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Shionogi&nbsp;&amp; Co. Ltd.</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,600</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,600</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Green Cross Corporation</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,388</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,416</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Mundipharma International Holdings Limited</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">47</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">47</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Seqirus UK Limited</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">825</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">167</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">992</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Total receivables</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,902</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,215</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,117</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table> </div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December&nbsp;31, 2016</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Billed</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Unbilled</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; font-size: 10pt; text-align: left">U.S. Department of Health and Human Services</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,495</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,495</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Shionogi&nbsp;&amp; Co. Ltd.</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,451</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,451</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Green Cross Corporation</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">686</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">686</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Seqirus UK Limited</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">957</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">179</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,136</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Total receivables</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,094</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,674</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,768</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table> </div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Monthly invoices are submitted to the U.S. Department of Health and Human Services related to reimbursable research and development costs. The Company is also entitled to monthly reimbursement of indirect costs based on rates stipulated in the underlying contract. The Company&#x2019;s calculations of its indirect cost rates are subject to audit by the U.S. Government.</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Receivables from Product Sales</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"></div> <div style=" font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Receivables from product sales are recorded for amounts due to the Company related to sales of RAPIVAB. These receivables are evaluated to determine if any reserve or allowance should be established at each reporting date.</div> <div style=" font-size: 10pt; text-indent: 22.5pt; margin: 0pt 0">&nbsp;&nbsp;</div></div></div></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryPolicyTextBlock', window );">Inventory, Policy [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Inventory</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">At <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016, </div>the Company&#x2019;s inventory consisted primarily of peramivir work in process and is being manufactured for the Company&#x2019;s partners. Inventory is stated at the lower of cost and net realizable value, determined under the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">first</div>-in, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">first</div>-out (&#x201c;FIFO&#x201d;) method, or market. The Company expenses costs related to the production of inventories as research and development expenses in the period incurred until such time it is believed that future economic benefit is expected to be recognized, which generally is reliant upon receipt of regulatory approval. Upon regulatory approval, the Company will capitalize subsequent costs related to the production of inventories.</div></div></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock', window );">Property, Plant and Equipment, Policy [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Property and Equipment</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Property and equipment are recorded at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Computer equipment is depreciated over a life of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> years. Laboratory equipment, office equipment, and software are depreciated over a life of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">five</div> years. Furniture and fixtures are depreciated over a life of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">seven</div> years. Leasehold improvements are amortized over their estimated useful lives or the expected lease term, whichever is less. Property consists of a leased building which did <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> meet the sale-leaseback criteria and is recorded at its fair value, less depreciation. The building is being depreciated over a period equal to the expected term of the related lease.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">In accordance with U.S. GAAP, the Company periodically reviews its property and equipment for impairment when events or changes in circumstances indicate that the carrying amount of such assets <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> be recoverable. Determination of recoverability is based on an estimate of undiscounted future cash flows resulting from the use of the asset and its eventual disposition. In the event that such cash flows are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> expected to be sufficient to recover the carrying amount of the assets, the assets are written down to their estimated fair values. Property and equipment to be disposed of are reported at the lower of carrying amount or fair value less cost to sell.&nbsp;</div></div></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IntangibleAssetsFiniteLivedPolicy', window );">Intangible Assets, Finite-Lived, Policy [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Patents and Licenses</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company seeks patent protection on all internally developed processes and products. All patent related costs are expensed to selling, general and administrative expenses when incurred as recoverability of such expenditures is uncertain.</div></div></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_AccruedExpensesPolicyTextBlock', window );">Accrued Expenses [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Accrued Expenses</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company generally enters into contractual agreements with <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div>-party vendors who provide research and development, manufacturing, and other services in the ordinary course of business. Some of these contracts are subject to milestone-based invoicing and services are completed over an extended period of time. The Company records liabilities under these contractual commitments when it determines an obligation has been incurred, regardless of the timing of the invoice. This process involves reviewing open contracts and purchase orders, communicating with applicable Company personnel to identify services that have been performed on its behalf and estimating the level of service performed and the associated cost incurred for the service when the Company has <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> yet been invoiced or otherwise notified of actual cost. The majority of service providers invoice the Company monthly in arrears for services performed. The Company makes estimates of accrued expenses as of each balance sheet date in its financial statements based on the facts and circumstances. The Company periodically confirms the accuracy of its estimates with the service providers and makes adjustments if necessary. Examples of estimated accrued expenses include:</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <table cellspacing="0" cellpadding="0" style="; border-collapse: collapse; font-size: 10pt; min-width: 700px;"> <tr> <td style="width: 5%">&nbsp;</td> <td style="vertical-align: top; width: 2%"><div style="display: inline; font-size: 10pt">&#x2022;</div></td> <td style="vertical-align: top; width: 1%">&nbsp;</td> <td style="vertical-align: top; width: 91%"><div style="display: inline; font-size: 10pt">fees paid to Clinical Research Organizations (&#x201c;CROs&#x201d;) in connection with preclinical and toxicology studies and clinical trials;</div></td> <td style="width: 1%">&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td style="vertical-align: top">&nbsp;</td> <td style="vertical-align: top">&nbsp;</td> <td style="vertical-align: top">&nbsp;</td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td style="vertical-align: top"><div style="display: inline; font-size: 10pt">&#x2022;</div></td> <td style="vertical-align: top">&nbsp;</td> <td style="vertical-align: top"><div style="display: inline; font-size: 10pt">fees paid to investigative sites in connection with clinical trials;</div></td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td style="vertical-align: top">&nbsp;</td> <td style="vertical-align: top">&nbsp;</td> <td style="vertical-align: top">&nbsp;</td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td style="vertical-align: top"><div style="display: inline; font-size: 10pt">&#x2022;</div></td> <td style="vertical-align: top">&nbsp;</td> <td style="vertical-align: top"><div style="display: inline; font-size: 10pt">fees paid to contract manufacturers in connection with the production of the Company&#x2019;s raw materials, drug substance and drug products;&nbsp;and</div></td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td style="vertical-align: top">&nbsp;</td> <td style="vertical-align: top">&nbsp;</td> <td colspan="2" style="vertical-align: top">&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td style="vertical-align: top"><div style="display: inline; font-size: 10pt">&#x2022;</div></td> <td style="vertical-align: top">&nbsp;</td> <td colspan="2" style="vertical-align: top"><div style="display: inline; font-size: 10pt">professional fees.</div></td> </tr> </table> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company bases its expenses related to clinical trials on its estimates of the services received and efforts expended pursuant to contracts with multiple research institutions and CROs that conduct and manage clinical trials on the Company&#x2019;s behalf. The financial terms of these agreements are subject to negotiation, vary from contract to contract and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>result in uneven payment flows. Payments under some of these contracts depend on factors such as the successful enrollment of patients and the completion of clinical trial milestones. In accruing service fees, the Company estimates the time period over which services will be performed and the level of effort expended in each period. If the actual timing of the performance of services or the level of effort varies from the estimate, the Company will adjust the accrual accordingly. As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016, </div>the carrying value of accrued expenses approximates their fair value due to their short-term settlement.&nbsp;</div> <div style=" font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-align: center; margin: 0pt 0"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">Accrued expenses were comprised of the following:</div> <div style=" font-size: 10pt; text-indent: 24.5pt; margin: 0pt 0">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 67%; font-size: 10pt; text-align: left">Compensation and benefits</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,905</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 2%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">425</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Development costs</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,683</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,427</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Inventory</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">705</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Professional fees</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">729</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">242</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Duties and taxes</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">148</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">56</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Other</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,234</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,981</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Total accrued expenses</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,699</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,836</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table></div></div></div></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxPolicyTextBlock', window );">Income Tax, Policy [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Income Taxes</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The liability method is used in the Company&#x2019;s accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse.</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 22, 2017, </div>the SEC staff issued Staff Accounting Bulletin <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">118</div> (&#x201c;SAB <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">118&#x201d;</div>), which provides guidance on accounting for the tax effects of the Tax Cuts and Jobs Act (&#x201c;TCJA&#x201d;). SAB <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">118</div> provides a measurement period that should <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> extend beyond <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> year from the TCJA enactment date for companies to complete the accounting under ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">740,</div> Income Taxes. As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div>the Company has <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> completed its accounting related to the enactment of the Tax Act.&nbsp;However, the Company has made reasonable estimates of the effects on its income tax provision with respect to certain items, primarily the revaluation of its existing U.S. deferred tax balances as described in Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.</div></div></div></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomePolicyPolicyTextBlock', window );">Comprehensive Income, Policy [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Accumulated Other Comprehensive Loss</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Accumulated other comprehensive loss is comprised of unrealized gains and losses on available-for-sale investments and is disclosed as a separate component of stockholders&#x2019; equity. Amounts reclassified from accumulated other comprehensive loss are recorded as interest and other income on the Consolidated Statements of Comprehensive Loss. During <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> a realized loss of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1</div> and a realized gain of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$11,</div> respectively, were reclassified out of accumulated other comprehensive loss.</div></div></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueRecognitionPolicyTextBlock', window );">Revenue Recognition, Policy [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div><div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Revenue Recognition</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company recognizes revenues from collaborative and other research and development arrangements, royalties and product sales when realized or realizable and earned. Revenue is realized or realizable and earned when all of the following criteria are met: (i)&nbsp;persuasive evidence of an arrangement exists; (ii)&nbsp;delivery has occurred or services have been rendered; (iii)&nbsp;the seller&#x2019;s price to the buyer is fixed or determinable; and (iv)&nbsp;collectability is reasonably assured.</div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</div> </div> <!-- Field: Page; Sequence: 64; Value: 60 --> <!-- Field: /Page --> <div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-style: italic;">Collaborative and Other Research and Development Arrangements and Royalties</div></div> <div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">Revenue from license fees, royalty payments, event payments, and research and development fees are recognized as revenue when the earnings process is complete and the Company has <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> further continuing performance obligations or the Company has completed the performance obligations under the terms of the agreement. Fees received under licensing agreements that are related to future performance are deferred and recognized over an estimated period determined by management based on the terms of the agreement and the products licensed. Revisions to revenue or profit estimates as a result of changes in the estimated revenue period are recognized prospectively.&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">Under certain of the Company&#x2019;s license agreements, the Company receives royalty payments based upon its licensees&#x2019; net sales of covered products. The Company recognizes royalty revenues when it can reliably estimate such amounts and collectability is reasonably assured.&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">For arrangements that involve the delivery of more than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> element, each product, service and/or right to use assets is evaluated to determine whether it qualifies as a separate unit of accounting. This determination is based on whether the deliverable has &#x201c;stand-alone value&#x201d; to the customer. The consideration that is fixed or determinable is then allocated to each separate unit of accounting based on the relative selling price of each deliverable. The estimated selling price of each deliverable is determined using the following hierarchy of values: (i) vendor-specific objective evidence of fair value, (ii) <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div>-party evidence of selling price (&#x201c;TPE&#x201d;) and (iii) best estimate of selling price (&#x201c;BESP&#x201d;). The BESP reflects the Company&#x2019;s best estimate of what the selling price would be if the deliverable was regularly sold by the Company on a stand-alone basis. In most cases the Company expects to use TPE or BESP for allocating consideration to each deliverable. The consideration allocated to each unit of accounting is recognized as the related goods or services are delivered, limited to the consideration that is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> contingent upon future deliverables. Analyzing the arrangement to identify deliverables requires the use of judgment, and each deliverable <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be an obligation to deliver services, a right or license to use an asset, or another performance obligation.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 2015, </div>the Company entered into a License Agreement (the &#x201c;SUL Agreement&#x201d;) granting SUL and its affiliates worldwide rights, excluding Israel, Japan, Korea and Taiwan, to develop, manufacture and commercialize RAPIVAB. The SUL Agreement provides for various types of payments, including a non-refundable upfront fee, milestone payments, and future royalties. Analysis of the SUL Agreement identified <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> deliverables: (i) license rights, (ii) inventory and (iii) regulatory support to obtain Canadian and European Union (&#x201c;EU&#x201d;) marketing approvals. The Company received an upfront payment of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$33,740</div> from SUL, of which <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$7,000</div> was determined to be contingent upon EU marketing approval and will be deferred until that time. Approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$21,777</div> of the upfront payment was allocated to the license rights and recognized as revenue in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015.</div> Approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$3,740</div> of the upfront payment was allocated to the pending sale of inventory and was recognized in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015,</div> when the inventory transfer was completed. Approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1,223</div> of the revenue from the SUL Agreement was recognized over the period of involvement in regulatory support activities.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">Milestone payments are recognized as licensing revenue upon the achievement of specified milestones if (i) the milestone is substantive in nature and the achievement of the milestone was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> reasonably assured at the inception of the agreement; and (ii) the fees are non-refundable. Any milestone payments received prior to satisfying these revenue recognition criteria are recorded as deferred revenue.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">During <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> the Company received a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$2,000</div> milestone payment related to the approval of RAPIVAB by Health Canada and a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$5,000</div> milestone payment associated with the FDA approval of a supplemental new drug application (&#x201c;sNDA&#x201d;) for RAPIVAB extending its availability for the treatment of acute uncomplicated influenza to pediatric patients <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div> years and older. The Company evaluated each event based payment under the provisions of ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2010</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17,</div> Milestone Method of Revenue Recognition, and determined that each event based payment met the criteria to be considered substantive and represents a milestone under the milestone method of accounting. Under the terms of the SUL Agreement, the Company <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>receive an additional <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$5,000</div> payment related to the successful marketing approval by the EMA for an adult indication in the EU. <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No</div> event-based payments were achieved during <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016.</div>&nbsp;</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Reimbursements received for direct out-of-pocket expenses related to research and development costs are recorded as revenue in the Consolidated Statements of Comprehensive Loss rather than as a reduction in expenses. Under the Company&#x2019;s contracts with the Biomedical Advanced Research and Development Authority within the United States Department of Health and Human Services (&#x201d;BARDA/HHS&#x201d;) and the National Institute of Allergy and Infectious Diseases (&#x201c;NIAID/HHS&#x201d;), revenue is recognized as reimbursable direct and indirect costs are incurred.</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-style: italic;">Product Sales</div></div> <div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company recognizes revenue for sales of RAPIVAB when title and substantially all the risks and rewards of ownership have transferred to the customer, which generally occurs on the date of shipment from the Company&#x2019;s specialty distributors, utilizing the Sell-Through revenue recognition methodology. Product sales are recognized when there is persuasive evidence that an arrangement exists, title has passed, the price is fixed and determinable, and collectability is reasonably assured. Product sales are recognized net of estimated allowances, discounts, sales returns, chargebacks and rebates. In the United States, and prior to the SUL Agreement, the Company sold RAPIVAB to specialty distributors, who in turn, sell to physician offices, hospitals and federal, state and commercial health care organizations.&nbsp;With the completion of the SUL worldwide license of RAPIVAB, SUL will be responsible for sales of RAPIVAB, other than U.S. Government stockpiling sales. With the completion of the SUL collaboration, all peramivir sales (i.e., RAPIVAB, RAPIACTA, and PERAMIFLU) will be made by the Company&#x2019;s partners, except for U.S. Government stockpiling sales, and the Company will be reliant on these partners to generate sales.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> </div> <!-- Field: Page; Sequence: 65; Value: 60 --> <!-- Field: /Page --> <div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Sales deductions consist of statutory rebates to state Medicaid, Medicare and other government agencies and sales discounts (including trade discounts and distribution service fees). These deductions are recorded as reductions from revenue from RAPIVAB in the same period as the related sales with estimates of future utilization derived from historical experience adjusted to reflect known changes in the factors that impact such reserves.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company utilizes data from external sources to help it estimate gross-to-net sales adjustments as they relate to the recognition of revenue for RAPIVAB sold. Externally sourced data includes, but is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> limited to, information obtained from specialty distributors with respect to their inventory levels and their sell-through to customers, as well as information from <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div>-party suppliers of market research data to the pharmaceutical industry.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company accounts for these sales deductions in accordance with authoritative guidance on revenue recognition when consideration is given by a vendor to a customer.&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company has categorized and described more fully the following significant sales deductions, all of which involve estimates and judgments, which the Company considers to be critical accounting estimates, and require it to use information from external sources.&nbsp;&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 13.5pt"></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 13.5pt">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 13.5pt"><div style="display: inline; font-style: italic;">Rebates and Chargebacks</div></div> <div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 13.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">Statutory rebates to state Medicaid agencies and Medicare are based on statutory discounts to RAPIVAB&#x2019;s selling price.&nbsp;As it can take up to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">nine</div> months or more for information to be received on actual usage of RAPIVAB in Medicaid and other governmental programs, the Company maintains reserves for amounts payable under these programs relating to RAPIVAB sales.&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">Chargebacks claimed by specialty distributors are based on the differentials between product acquisition prices paid by the specialty distributors and lower government contract pricing paid by eligible customers covered under federally qualified programs.&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">The amount of the reserve for rebates and chargebacks is based on multiple qualitative and quantitative factors, including the historical and projected utilization levels, historical payment experience, changes in statutory laws and interpretations as well as contractual terms, product pricing (both normal selling prices and statutory or negotiated prices), changes in prescription demand patterns and utilization of the Company&#x2019;s product through public benefit plans, and the levels of RAPIVAB inventory in the distribution channel. The Company acquires prescription utilization data from <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div>-party suppliers of market research data to the pharmaceutical industry. The Company updates its estimates and assumptions each period and records any necessary adjustments to its reserves. Settlements of rebates and chargebacks typically occur within <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">nine</div> months from point of sale. To the extent actual rebates and chargebacks differ from the Company&#x2019;s estimates, additional reserves <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be required or reserves <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>need to be reversed, either of which would impact current period product revenue.&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in"></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in"><div style="display: inline; font-style: italic;">Discounts and Sales Incentives</div></div> <div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 0.25in">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Discounts and other sales incentives primarily consist of Inventory Management Agreement (&#x201c;IMA&#x201d;) fees. Per contractual agreements with the Company&#x2019;s specialty distributors, the Company provides an IMA fee based on a percentage of their purchases of RAPIVAB. The IMA fee rates are set forth in individual contracts. The Company tracks sales to these distributors each period and accrues a liability relating to the unpaid portion of these fees by applying the contractual rates to such product sales.&nbsp;With the completion of the SUL collaboration, all peramivir sales (i.e., RAPIVAB, RAPIACTA, and PERAMIFLU) will be made by the Company&#x2019;s partners, except for U.S. Government stockpiling sales, and the Company will be reliant on these partners to generate sales and to provide for discounts and sales incentives.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in"><div style="display: inline; font-style: italic;">Product Returns</div></div> <div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 0.25in">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> record a product return allowance as it does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> offer the ability to return goods once a bonafide shipment has been accepted by a specialty distributor.&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; margin: 0pt 0">&nbsp;</div> </div> <!-- Field: Page; Sequence: 66; Value: 60 --> <!-- Field: /Page --> <div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company recorded the following revenues for the years ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31:</div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 13.5pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left">Product sales, net</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,501</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,269</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,291</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Royalty revenue</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,543</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,682</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,386</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Collaborative and other research and development revenues:</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">U.S. Department of Health and Human Services</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,608</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,449</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,337</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Green Cross Corporation</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">132</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Shionogi &amp; Co. Ltd.</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,184</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,184</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,184</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt">Seqirus UK Limited</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,350</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">769</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21,927</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Total collaborative and other research and development revenues</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,142</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14,402</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">39,580</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Total revenues</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25,186</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26,353</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">48,257</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table> </div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">&nbsp;</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in"><div style="display: inline; font-style: italic;">Advertising</div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 0.25in"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company engages in very limited distribution and direct-response advertising when promoting RAPIVAB. Advertising and promotional costs are expensed as the costs are incurred. The Company did <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> incur advertising and product promotion expenses in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016.</div> Advertising and product promotion expenses were <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$103</div> for the year ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015.</div></div></div></div></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ResearchAndDevelopmentExpensePolicy', window );">Research and Development Expense, Policy [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Research and Development Expenses</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The Company&#x2019;s research and development costs are charged to expense when incurred. Research and development expenses include all direct and indirect development costs related to the development of the Company&#x2019;s portfolio of product candidates. Advance payments for goods or services that will be used or rendered for future research and development activities are deferred and capitalized. Such amounts are recognized as expense when the related goods are delivered or the related services are performed. Research and development expenses include, among other items, personnel costs, including salaries and benefits, manufacturing costs, clinical, regulatory, and toxicology services performed by CROs, materials and supplies, and overhead allocations consisting of various administrative and facilities related costs. Most of the Company&#x2019;s manufacturing and clinical and preclinical studies are performed by <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div>-party CROs. Costs for studies performed by CROs are accrued by the Company over the service periods specified in the contracts and estimates are adjusted, if required, based upon the Company&#x2019;s on-going review of the level of services actually performed.&nbsp;&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Additionally, the Company has license agreements with <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div> parties, such as Albert Einstein College of Medicine of Yeshiva University (&#x201c;AECOM&#x201d;), Industrial Research, Ltd. (&#x201c;IRL&#x201d;), and the University of Alabama at Birmingham (&#x201c;UAB&#x201d;), which require fees related to sublicense agreements or maintenance fees. The Company expenses sublicense payments as incurred unless they are related to revenues that have been deferred, in which case the expenses are deferred and recognized over the related revenue recognition period. The Company expenses maintenance payments as incurred.&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Deferred collaboration expenses represent sub-license payments, paid to the Company&#x2019;s academic partners upon receipt of consideration from various commercial partners, and other consideration paid to the Company&#x2019;s academic partners for modification to existing license agreements. These deferred expenses would <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> have been incurred without receipt of such payments or modifications from the Company&#x2019;s commercial partners and are being expensed in proportion to the related revenue being recognized. The Company believes that this accounting treatment appropriately matches expenses with the associated revenue.</div></div></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy', window );">Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Stock-Based Compensation</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">All share-based payments, including grants of stock option awards and restricted stock unit awards, are recognized in the Company&#x2019;s Consolidated Statements of Comprehensive Loss based on their fair values. The fair value of stock option awards is estimated using the Black-Scholes option pricing model. The fair value of restricted stock unit awards is based on the grant date closing price of the common stock. Stock-based compensation cost is recognized as expense on a straight-line basis over the requisite service period of the award. In addition, we have outstanding performance-based stock options for which <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> compensation expense is recognized until &#x201c;performance&#x201d; is deemed to have occurred.</div></div></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_InterestExpenseAndDeferredFinancingCostsPolicyTextBlock', window );">Interest Expense and Deferred Financing Costs [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Interest Expense and Deferred Financing Costs</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Interest expense for the years ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div> was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$8,565,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$6,487</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$5,200,</div> respectively, and primarily relates to the issuance of the PhaRMA Notes (defined in Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div>) and the Senior Credit Facility (defined in Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4</div>). Costs directly associated with the issuance of the PhaRMA Notes and the Senior Credit Facility have been capitalized and are netted against the non-recourse notes payable and Senior Credit Facility on the Consolidated Balance Sheets. These costs are being amortized to interest expense over the terms of the PhaRMA Notes and the Senior Credit Facility using the effective interest rate method. Amortization of deferred financing costs and original issue discount included in interest expense was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$876,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$558</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$439</div> for each of the years ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015,</div> respectively.</div></div></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LesseeLeasesPolicyTextBlock', window );">Lessee, Leases [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><!-- Field: /Page --> <div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 13.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Lease Financing Obligation</div></div></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Based on the terms of the lease agreement for the new research facility in Birmingham, Alabama, the Company had construction period risks during the construction period and the Company was deemed the owner of the building (for accounting purposes only) during the construction period, which ended in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016.</div> Accordingly, the Company recorded an asset of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1,589</div> at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2015, </div>representing the Company&#x2019;s leased portion of the building and recorded a corresponding liability. Upon completion of leasehold improvement construction, the Company did <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> meet the sale-leaseback criteria for de-recognition of the building asset and liability. Therefore, the lease is accounted for as a financing obligation. The asset will be depreciated over the expected duration of the lease of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20.5</div> years, and rental payments will be treated as principal and interest payments on the lease financing obligation liability. The underlying accounting for this transaction has <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> impact on cash flows associated with the underlying lease or construction in process. Interest expense for the years ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> includes <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$299</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$408,</div> respectively, related to the lease financing obligation.</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0">At each of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> the lease financing obligation balance was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$2,704</div> and was recorded as a long-term liability on the consolidated balance sheets. At <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 </div>the remaining future minimum payments under the lease financing obligation are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$4,334.</div></div></div></div></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_CurrencyHedgeAgreementPolicyTextBlock', window );">Currency Hedge Agreement [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Currency Hedge Agreement</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">In connection with the issuance by Royalty Sub of the PhaRMA Notes, the Company entered into a Currency Hedge Agreement to hedge certain risks associated with changes in the value of the Japanese yen relative to the U.S. dollar. The Currency Hedge Agreement does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> qualify for hedge accounting treatment; therefore mark to market adjustments are recognized in the Company&#x2019;s Consolidated Statements of Comprehensive Loss. Cumulative mark to market adjustments for the years ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div> resulted in losses of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1,787,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1,654</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$564,</div> respectively. Mark to market adjustments are determined by a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div>-party pricing model which uses quoted prices in markets that are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> actively traded and for which significant inputs are observable directly or indirectly, representing Level <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div> in the fair value hierarchy as defined by U.S. GAAP. In addition, realized currency exchange gains of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$966,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$811</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1,654</div> were recognized in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015,</div> respectively, related to the exercise of a U.S. dollar/Japanese yen currency option under the Company&#x2019;s foreign currency hedge. The Company is also required to post collateral in connection with the mark to market adjustments based on defined thresholds. As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> hedge collateral was posted under the Currency Hedge Agreement.</div></div></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerSharePolicyTextBlock', window );">Earnings Per Share, Policy [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Net Loss Per Share</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 23pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">Net loss per share is based upon the weighted average number of common shares outstanding during the period. Diluted loss per share is equivalent to basic net loss per share for all periods presented herein because common equivalent shares from unexercised stock options, outstanding warrants, and common shares expected to be issued under the Company&#x2019;s employee stock purchase plan were anti-dilutive. The calculation of diluted earnings per share for the years ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div> does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> include <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,067,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,226</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,524</div> respectively, of potential common shares as their impact would be anti-dilutive.</div></div></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UseOfEstimates', window );">Use of Estimates, Policy [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Use of Estimates</div></div></div> <div style=" font-size: 10pt; margin: 0pt 0 0pt 11.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27pt; margin: 0pt 0">The preparation of financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the financial statements. Actual results could differ from those estimates.&nbsp;&nbsp;</div></div></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_ConcentrationOfMarketRiskPolicyTextBlock', window );">Concentration of Market Risk [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div><div style=" font-size: 10pt; text-indent: 13.5pt; margin: 0pt 0"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;"></div></div></div> <div style=" font-size: 10pt; text-indent: 13.5pt; margin: 0pt 0"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Significant Customers and Other Risks</div></div><div style="display: inline; font-style: italic;"> &nbsp;</div></div> <div style=" font-size: 10pt; text-indent: 13.5pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"><div style="display: inline; font-style: italic;">Significant Customers</div></div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">Prior to the SUL Agreement, the Company relied primarily on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> specialty distributors to purchase and supply the majority of RAPIVAB. These <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> pharmaceutical specialty distributors accounted for greater than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">90%</div> of all RAPIVAB product sales and accounted for predominantly all of the Company&#x2019;s outstanding receivables from product sales. The loss of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> or more of these specialty distributors as a customer could have negatively impacted the commercialization of RAPIVAB. However, the Company will utilize these specialty distributors on a limited basis subsequent to the SUL collaboration as SUL, and other peramivir collaboration partners, will be responsible for commercial sales on a worldwide basis. In addition, in connection with the SUL collaboration, all peramivir sales (i.e., RAPIVAB, RAPIACTA, and PERAMIFLU) will be made by the Company&#x2019;s partners and the Company will be reliant on these partners to generate sales and remit cash to satisfy receivables.</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</div> </div> <!-- Field: Page; Sequence: 68; Value: 60 --> <!-- Field: /Page --> <div> <div style=" font-size: 10pt; margin: 0pt 0"></div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27.35pt">Other than royalty revenues, the Company&#x2019;s primary source of revenue that has an underlying cash flow stream is the reimbursement of galidesivir (formerly <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">BCX4430</div>) development expenses earned under cost-plus-fixed-fee contracts with BARDA/HHS and NIAID/HHS. The Company relies on BARDA/HHS and NIAID/HHS to reimburse predominantly all of the development costs for its galidesivir program. Accordingly, reimbursement of these expenses represents a significant portion of the Company&#x2019;s collaborative and other research and development revenues. The completion or termination of the NIAID/HHS and BARDA/HHS galidesivir contracts could negatively impact the Company&#x2019;s future Consolidated Statements of Comprehensive Loss and Cash Flows. The Company recognizes royalty revenue from the net sales of RAPIACTA by Shionogi; however, the underlying cash flow from these royalty payments, except for Japanese government stockpiling sales, goes directly to pay the interest, and then the principal, on the Company&#x2019;s non-recourse notes payable. Payment of the interest and the ultimate repayment of principal of these notes will be entirely funded by future royalty payments derived from net sales of RAPIACTA. Further, the Company&#x2019;s drug development activities are performed by a limited group of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div> party vendors. If any of these vendors were unable to perform their services, this could significantly impact the Company&#x2019;s ability to complete its drug development activities.</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"><div style="display: inline; font-style: italic;">Risks from Third Party Manufacturing and Distribution Concentration</div></div> <div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 22.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">The Company relies on single source manufacturers for active pharmaceutical ingredient and finished drug product manufacturing of product candidates in development. Delays in the manufacture or distribution of any product could adversely impact the commercial revenue and future procurement stockpiling of the Company&#x2019;s product candidates in development.</div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 23.05pt; margin: 0pt 0"><div style="display: inline; font-style: italic;">Credit Risk</div></div> <div style=" font-size: 10pt; text-indent: 0.5in; margin: 0pt 0 0pt 22.5pt">&nbsp;</div> <div style=" font-size: 10pt; text-indent: 27.35pt; margin: 0pt 0">Cash equivalents and investments are financial instruments which potentially subject the Company to concentration of risk to the extent recorded on the Consolidated Balance Sheets. The Company deposits excess cash with major financial institutions in the United States. Balances <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>exceed the amount of insurance provided on such deposits. The Company believes it has established guidelines for investment of its excess cash relative to diversification and maturities that maintain safety and liquidity. To minimize the exposure due to adverse shifts in interest rates, the Company maintains a portfolio of investments with an average maturity of approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18</div> months or less. Other than product sale and collaborative partner receivables discussed above, the majority of the Company&#x2019;s receivables from collaborations are due from the U.S. Government, for which there is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> assumed credit risk.</div></div></div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents accrued expenses policy.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td style="white-space:nowrap;">bcrx_AccruedExpensesPolicyTextBlock</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_ConcentrationOfMarketRiskPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents concentration of market risk policy.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_ConcentrationOfMarketRiskPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_CurrencyHedgeAgreementPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents currency hedge agreement policy.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_CurrencyHedgeAgreementPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_DescriptionOfCompanyPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of company policy.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_DescriptionOfCompanyPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
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<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_InterestExpenseAndDeferredFinancingCostsPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents interest expense and deferred financing costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_InterestExpenseAndDeferredFinancingCostsPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountingPoliciesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountingPoliciesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BasisOfAccountingPolicyPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for basis of accounting, or basis of presentation, used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BasisOfAccountingPolicyPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 305<br> -SubTopic 10<br> -Section 05<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6375392&amp;loc=d3e26790-107797<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4273-108586<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Entity's cash and cash equivalents accounting policy with respect to restricted balances.  Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(1)(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 305<br> -SubTopic 10<br> -Section 05<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6375392&amp;loc=d3e26790-107797<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4273-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ComprehensiveIncomePolicyPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for comprehensive income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ComprehensiveIncomePolicyPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerSharePolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3630-109257<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerSharePolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32840-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 30<br> -Section 05<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=65884525&amp;loc=d3e40913-109327<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 954<br> -SubTopic 740<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6491622&amp;loc=d3e9504-115650<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 17<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32809-109319<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=84176650&amp;loc=d3e32247-109318<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=84176650&amp;loc=d3e32280-109318<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IntangibleAssetsFiniteLivedPolicy">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for finite-lived intangible assets. This accounting policy also might address: (1) the amortization method used; (2) the useful lives of such assets; and (3) how the entity assesses and measures impairment of such assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=66006027&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of inventory accounting policy for inventory classes, including, but not limited to, basis for determining inventory amounts, methods by which amounts are added and removed from inventory classes, loss recognition on impairment of inventories, and situations in which inventories are stated above cost.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=66092785&amp;loc=d3e4492-108314<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.6(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=66092785&amp;loc=d3e4556-108314<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6361739&amp;loc=d3e7789-107766<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryPolicyTextBlock</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for investments in financial assets, including marketable securities (debt and equity securities with readily determinable fair values), investments accounted for under the equity method and cost method, securities borrowed and loaned, and repurchase and resale agreements. For marketable securities, the disclosure may include the entity's accounting treatment for transfers between investment categories and how the fair values for such securities are determined. Also, for all investments, an entity may describe its policy for assessing, recognizing and measuring impairment of the investment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=66011266&amp;loc=d3e33918-111571<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=82897076&amp;loc=d3e27290-111563<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.2,12)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 5.M)<br> -URI http://asc.fasb.org/extlink&amp;oid=65877573&amp;loc=d3e87990-122713<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 325<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=75025870&amp;loc=d3e40691-111596<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=77997519&amp;loc=d3e13433-108611<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentPolicyTextBlock</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for leasing arrangement entered into by lessee.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=77888426&amp;loc=SL77918666-209980<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LesseeLeasesPolicyTextBlock</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, basis of assets, depreciation and depletion methods used, including composite deprecation, estimated useful lives, capitalization policy, accounting treatment for costs incurred for repairs and maintenance, capitalized interest and the method it is calculated, disposals and impairments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for trade and other accounts receivable, and finance, loan and lease receivables, including those classified as held for investment and held for sale. This disclosure may include (1) the basis at which such receivables are carried in the entity's statements of financial position (2) how the level of the valuation allowance for receivables is determined (3) when impairments, charge-offs or recoveries are recognized for such receivables (4) the treatment of origination fees and costs, including the amortization method for net deferred fees or costs (5) the treatment of any premiums or discounts or unearned income (6) the entity's income recognition policies for such receivables, including those that are impaired, past due or placed on nonaccrual status and (7) the treatment of foreclosures or repossessions (8) the nature and amount of any guarantees to repurchase receivables.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(4))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=84159169&amp;loc=d3e10133-111534<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(5))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=84173941&amp;loc=d3e4975-111524<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ReceivablesPolicyTextBlock</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ResearchAndDevelopmentExpensePolicy">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for costs it has incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 730<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6420194&amp;loc=d3e21568-108373<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ResearchAndDevelopmentExpensePolicy</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueRecognitionPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction is generally disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18823-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 13.B.Q1)<br> -URI http://asc.fasb.org/extlink&amp;oid=65893310&amp;loc=d3e214044-122780<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18726-107790<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenueRecognitionPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for stock option and stock incentive plans. This disclosure may include (1) the types of stock option or incentive plans sponsored by the entity (2) the groups that participate in (or are covered by) each plan (3) significant plan provisions and (4) how stock compensation is measured, and the methodologies and significant assumptions used to determine that measurement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5047-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b),(f)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=84177426&amp;loc=d3e6061-108592<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=84177426&amp;loc=d3e6143-108592<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84177426&amp;loc=d3e6132-108592<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6825947168">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 1 - Significant Accounting Policies and Concentrations of Risk (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TableTextBlock', window );"><strong>Notes Tables</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesTextBlock', window );">Available-for-sale Securities [Table Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="19" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2017</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amortized<br /> Cost</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Accrued<br /> Interest</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Gross<br /> Unrealized<br /> Gains</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Gross<br /> Unrealized<br /> Losses</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Estimated<br /> Fair Value</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%; font-size: 10pt; text-align: left; text-indent: -10pt; padding-left: 10pt">Obligations of U.S. Government and its agencies</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">60,121</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">177</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(122</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">60,176</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Corporate debt securities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">34,021</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">203</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(108</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">34,116</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Certificates of deposit</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,099</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">32</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(14</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,118</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Total investments</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">105,241</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">412</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(244</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">105,410</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="19" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2016</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amortized<br /> Cost</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Accrued<br /> Interest</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Gross<br /> Unrealized<br /> Gains</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Gross<br /> Unrealized<br /> Losses</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Estimated<br /> Fair Value</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%; font-size: 10pt; text-align: left; text-indent: -10pt; padding-left: 10pt">Obligations of U.S. Government and its agencies</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20,266</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">34</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20,298</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Corporate debt securities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,179</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(8</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,199</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Certificates of deposit</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14,962</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(11</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14,975</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Total investments</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">41,407</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">77</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(23</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">41,472</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_AvailableForSaleSecuritiesDebtMaturitiesFairValueTableTextBlock', window );">Available For Sale Securities Debt Maturities Fair Value [Table Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 67%; font-size: 10pt; text-align: left">Maturing in one year or less</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">64,115</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 2%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">32,546</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Maturing after one year through two years</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">34,257</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,926</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Maturing after two years</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,038</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Total investments</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">105,410</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">41,472</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_ScheduleOfReceivablesFromCollaborationsTableTextBlock', window );">Schedule of Receivables from Collaborations [Table Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December&nbsp;31, 2017</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Billed</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Unbilled</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; font-size: 10pt; text-align: left">U.S. Department of Health and Human Services</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">42</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,020</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,062</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Shionogi&nbsp;&amp; Co. Ltd.</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,600</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,600</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Green Cross Corporation</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,388</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,416</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Mundipharma International Holdings Limited</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">47</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">47</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Seqirus UK Limited</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">825</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">167</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">992</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Total receivables</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,902</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,215</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,117</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December&nbsp;31, 2016</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Billed</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Unbilled</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; font-size: 10pt; text-align: left">U.S. Department of Health and Human Services</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,495</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,495</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Shionogi&nbsp;&amp; Co. Ltd.</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,451</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,451</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Green Cross Corporation</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">686</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">686</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Seqirus UK Limited</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">957</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">179</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,136</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Total receivables</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,094</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,674</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,768</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfAccruedLiabilitiesTableTextBlock', window );">Schedule of Accrued Liabilities [Table Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 67%; font-size: 10pt; text-align: left">Compensation and benefits</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,905</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 2%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">425</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Development costs</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,683</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,427</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Inventory</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">705</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Professional fees</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">729</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">242</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Duties and taxes</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">148</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">56</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Other</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,234</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,981</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Total accrued expenses</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,699</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,836</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_ScheduleOfRevenuesFromCollaborationsTableTextBlock', window );">Schedule of Revenues from Collaborations [Table Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left">Product sales, net</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,501</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,269</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,291</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Royalty revenue</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,543</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,682</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,386</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Collaborative and other research and development revenues:</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">U.S. Department of Health and Human Services</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,608</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,449</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,337</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Green Cross Corporation</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">132</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Shionogi &amp; Co. Ltd.</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,184</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,184</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,184</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt">Seqirus UK Limited</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,350</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">769</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21,927</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Total collaborative and other research and development revenues</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,142</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14,402</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">39,580</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Total revenues</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; 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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 2 - Property and Equipment (Tables)<br></strong></div></th>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 67%; font-size: 10pt; text-align: left">Furniture and fixtures</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 13%; font-size: 10pt; 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background-color: White"> <td style="font-size: 10pt; text-align: left">Laboratory equipment</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,984</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,252</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Leased equipment</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; 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text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,294</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Building</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,495</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,495</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14,873</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14,839</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Less accumulated depreciation and amortization</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,327</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,917</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; 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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(13))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6817634272">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 4 - Senior Credit Facility (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="text">&#160;<span></span>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td colspan="5" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Principal Payments</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 72%; font-size: 10pt; text-align: justify">2018</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 25%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,900</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify">2019</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,900</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify">2020</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,900</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 1pt">2021</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,300</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: justify; padding-bottom: 2.25pt">Total</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">23,000</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6822081056">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 5 - Lease Obligations and Other Contingencies (Tables)<br></strong></div></th>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 87%; font-size: 10pt; text-align: left">2018</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,169</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">2019</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,154</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">2020</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">862</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">2021</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">479</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">2022</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">490</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Thereafter</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,999</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Total minimum payments</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,153</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=77902758&amp;loc=d3e41502-112717<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830082640">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 7 - Stock-based Compensation (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TableTextBlock', window );"><strong>Notes Tables</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock', window );">Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year Ended December&nbsp;31,</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 55%; font-size: 10pt; text-align: left">Research and development</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,602</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,088</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,580</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">General and administrative</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,019</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,399</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,125</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Total stock-based compensation expense</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,621</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,487</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,705</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock', window );">Share-based Compensation, Activity [Table Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Awards<br /> Available</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Options<br /> Outstanding</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Weighted<br /> Average<br /> Exercise<br /> Price</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 55%; font-size: 10pt">Balance at December&nbsp;31, 2014</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,362</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,605</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.21</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Restricted stock awards granted</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(163</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Restricted stock awards cancelled</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Stock option awards granted</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,217</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,217</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11.52</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Stock option awards exercised</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,118</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.36</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt">Stock option awards cancelled</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(33</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.87</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Balance at December&nbsp;31, 2015</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,671</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.50</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Plan amendment</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,800</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Restricted stock awards granted</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(34</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Restricted stock awards cancelled</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Stock option awards granted</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,248</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,248</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.20</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Stock option awards exercised</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(107</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.63</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt">Stock option awards cancelled</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">717</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(717</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10.78</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Balance at December&nbsp;31, 2016</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,273</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,095</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.55</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Plan amendment</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,000</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Restricted stock awards granted</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(22</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Restricted stock awards cancelled</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Stock option awards granted</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,915</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,915</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.33</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Stock option awards exercised</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(438</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.50</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt">Stock option awards cancelled</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,120</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,120</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.72</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 2.25pt">Balance at December&nbsp;31, 2017</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">468</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14,452</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="padding-bottom: 2.25pt; font-size: 10pt; text-align: left">$</td> <td style="padding-bottom: 2.25pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.06</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock', window );">Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 55%; font-size: 10pt; text-align: left">Expected Life</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Expected Volatility</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">82</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">82</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">81</div></td> <td style="font-size: 10pt; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Expected Dividend Yield</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0</div></td> <td style="font-size: 10pt; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Risk-Free Interest Rate</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.0</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.4</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.6</div></td> <td style="font-size: 10pt; text-align: left">%</td> </tr> </table></div><span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAndExercisableTableTextBlock', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable [Table Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td> <td colspan="9" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Outstanding</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Exercisable</td> </tr> <tr style="vertical-align: bottom"> <td colspan="2" style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid; text-align: left">Range</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Number</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Weighted<br /> Average<br /> Remaining<br /> Life</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Weighted<br /> Average<br /> Exercise<br /> Price</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Number</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Weighted<br /> Average<br /> Exercise<br /> Price</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: center">$</td> <td style="width: 5%; font-size: 10pt; font-weight: bold; text-align: center">0</td> <td style="width: 3%; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">to</div></div></div></td> <td style="width: 5%; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div></td> <td style="width: 2%; font-size: 10pt">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,724</div></td> <td style="width: 2%; font-size: 10pt">&nbsp;</td> <td style="width: 1%">&nbsp;</td> <td style="width: 14%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.7</div></td> <td style="width: 1%">&nbsp;</td> <td style="width: 2%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 14%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.64</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 2%; font-size: 10pt">&nbsp;</td> <td style="width: 1%">&nbsp;</td> <td style="width: 14%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,598</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 2%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 14%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.55</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: center">3</td> <td style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">to</div></div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,303</div></td> <td style="font-size: 10pt">&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.5</div></td> <td>&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.63</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,066</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.31</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: center">6</td> <td style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">to</div></div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">854</div></td> <td style="font-size: 10pt">&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.0</div></td> <td>&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.90</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">848</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.89</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: center">9</td> <td style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">to</div></div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,857</div></td> <td style="font-size: 10pt">&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.1</div></td> <td>&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11.00</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,383</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10.98</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: center">12</td> <td style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">to</div></div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">619</div></td> <td style="font-size: 10pt">&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.9</div></td> <td>&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12.29</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">308</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12.39</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center">15</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">to</div></div></div></td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18</div></td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">95</div></td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td>&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.5</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.39</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td>&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">47</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.39</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.25pt; font-size: 10pt; font-weight: bold; text-align: center">$</td> <td style="padding-bottom: 2.25pt; font-size: 10pt; font-weight: bold; text-align: center">0</td> <td style="padding-bottom: 2.25pt; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">to</div></div></div></td> <td style="padding-bottom: 2.25pt; font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18</div></td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14,452</div></td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td>&nbsp;</td> <td style="padding-bottom: 2.25pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.8</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="padding-bottom: 2.25pt; font-size: 10pt; text-align: left">$</td> <td style="padding-bottom: 2.25pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.06</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td>&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,250</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="padding-bottom: 2.25pt; font-size: 10pt; text-align: left">$</td> <td style="padding-bottom: 2.25pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.69</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock', window );">Share-based Compensation, Stock Options, Activity [Table Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Non-Vested<br /> Stock Option<br /> Awards</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Weighted Average<br /> Grant-Date Fair<br /> Value</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 67%; font-size: 10pt">Balance December&nbsp;31, 2016</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,598</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 2%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 13%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.40</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Stock option awards granted</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,915</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.63</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Stock option awards vested</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,916</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.86</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Stock option awards forfeited</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(395</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.84</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 2.25pt">Balance December&nbsp;31, 2017</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,202</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.56</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
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</table>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5047-113901<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 14.F)<br> -URI http://asc.fasb.org/extlink&amp;oid=27013229&amp;loc=d3e301413-122809<br></p></div>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6820365568">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 8 - Income Taxes (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TableTextBlock', window );"><strong>Notes Tables</strong></a></td>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left">Income tax benefit at federal statutory rate</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(23,024</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(19,300</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(15,057</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">State and local income taxes net of federal tax benefit</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,611</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,173</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(819</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Permanent items</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">910</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,057</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">560</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Rate change</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">71,155</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,080</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; 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font-style: italic; font-weight: inherit; font-style: normal;">1,798</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,307</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Other</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,639</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">822</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(218</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Change in valuation allowance</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(42,625</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,838</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20,339</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Income tax expense</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock', window );">Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; font-size: 10pt">Balance at January&nbsp;1,</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,255</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,085</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Additions to current period tax positions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">495</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,170</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Additions to prior period tax positions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Reductions to prior period tax provisions</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 2.25pt">Balance at December&nbsp;31,</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,750</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,255</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock', window );">Schedule of Deferred Tax Assets and Liabilities [Table Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Deferred tax assets:</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 70%; font-size: 10pt; text-align: left; text-indent: 10pt">Net federal and state operating losses</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">117,787</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">158,618</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Research and development credits</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">55,208</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">53,231</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Deferred revenue</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,854</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,484</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Stock-based compensation</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,424</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,952</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt; text-indent: 10pt">Other</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,046</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,849</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Total deferred tax assets</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">183,319</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">227,134</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Deferred tax liabilities:</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Fixed assets</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(421</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(674</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 10pt">Foreign currency derivative</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(478</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,415</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Total deferred tax liabilities</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(899</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,089</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Valuation allowance</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(182,420</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(225,045</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.25pt">Net deferred tax assets</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 2.25pt">&nbsp;</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">$</td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x2014;</div></td> <td style="border-bottom: Black 2.25pt double; font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6822139136">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 11 - Quarterly Financial Information (Unaudited) (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TableTextBlock', window );"><strong>Notes Tables</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">First</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Second</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Third</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Fourth</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">2017 Quarters</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 48%; font-size: 10pt; text-indent: 10pt">Revenues</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,437</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,099</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,760</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,890</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Net Loss</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(14,219</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(16,886</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(15,134</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(19,543</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Basic and diluted net loss per share</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.19</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.21</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.18</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.20</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">2016 Quarters</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-indent: 10pt">Revenues</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,820</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,787</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,763</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">$</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,983</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Net Loss</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(22,832</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(16,281</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(11,528</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,503</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 10pt">Basic and diluted net loss per share</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.31</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.22</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.16</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.06</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> </table></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 270<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)-(j)<br> -URI http://asc.fasb.org/extlink&amp;oid=84173487&amp;loc=d3e1280-108306<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6844051312">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 1 - Significant Accounting Policies and Concentrations of Risk (Details Textual)<br> shares in Thousands, $ in Thousands</strong></div></th>
<th class="th" colspan="1">1 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Jun. 30, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2016 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Sep. 23, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 09, 2011 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCredit', window );">Long-term Line of Credit</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 16,750<span></span>
</td>
<td class="nump">$ 22,777<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue', window );">Restricted Cash and Cash Equivalents, Current</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,286<span></span>
</td>
<td class="nump">1,546<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax', window );">Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1)<span></span>
</td>
<td class="nump">11<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25,186<span></span>
</td>
<td class="nump">26,353<span></span>
</td>
<td class="nump">$ 48,257<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdvertisingExpense', window );">Advertising Expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">103<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Interest Expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,565<span></span>
</td>
<td class="nump">6,487<span></span>
</td>
<td class="nump">5,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfFinancingCosts', window );">Amortization of Debt Issuance Costs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">876<span></span>
</td>
<td class="nump">558<span></span>
</td>
<td class="nump">$ 439<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property, Plant and Equipment, Gross</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14,873<span></span>
</td>
<td class="nump">14,839<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_LeaseFinancingObligationNetOfCurrent', window );">Lease Financing Obligation, Net of Current</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,751<span></span>
</td>
<td class="nump">$ 2,704<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount', window );">Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,067<span></span>
</td>
<td class="nump">1,226<span></span>
</td>
<td class="nump">3,524<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentRiskAxis=us-gaap_ForeignExchangeContractMember', window );">Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLossOnDerivative', window );">Derivative, Loss on Derivative</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,787<span></span>
</td>
<td class="nump">$ 1,654<span></span>
</td>
<td class="nump">$ 564<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeGainOnDerivative', window );">Derivative, Gain on Derivative</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">966<span></span>
</td>
<td class="nump">811<span></span>
</td>
<td class="nump">1,654<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentRiskAxis=bcrx_CurrencyHedgeAgreementMember', window );">Currency Hedge Agreement [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CollateralAlreadyPostedAggregateFairValue', window );">Collateral Already Posted, Aggregate Fair Value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LeaseArrangementTypeAxis=bcrx_BirminghamResearchFacilityMember', window );">Birmingham Research Facility [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Interest Expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">299<span></span>
</td>
<td class="nump">408<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_LeaseFinancingObligationNetOfCurrent', window );">Lease Financing Obligation, Net of Current</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,704<span></span>
</td>
<td class="nump">2,704<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDue', window );">Capital Leases, Future Minimum Payments Due</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,334<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProductOrServiceAxis=bcrx_RAPIVABMember', window );">RAPIVAB [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueRecognitionMilestoneMethodRevenueRecognized', window );">Revenue Recognition, Milestone Method, Revenue Recognized</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProductOrServiceAxis=bcrx_RAPIVABMember', window );">RAPIVAB [Member] | Customer Concentration Risk [Member] | Sales Revenue, Product Line [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_NumberOfMajorCustomers', window );">Number of Major Customers</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProductOrServiceAxis=bcrx_RAPIVABMember', window );">RAPIVAB [Member] | Customer Concentration Risk [Member] | Sales Revenue, Product Line [Member] | Three Customers [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration Risk, Percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">90.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProductOrServiceAxis=bcrx_SupplementalNDAForRaAPIVABMember', window );">Supplemental NDA for RAPIVAB [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueRecognitionMilestoneMethodRevenueRecognized', window );">Revenue Recognition, Milestone Method, Revenue Recognized</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TypeOfArrangementAxis=bcrx_AgreementMember', window );">Agreement [Member] | CSL [Member] | RAPIVAB [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLicenseFeesReceived', window );">Proceeds from License Fees Received</a></td>
<td class="nump">$ 33,740<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenues</a></td>
<td class="nump">21,777<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_MilestonePaymentMaximum', window );">Milestone Payment Maximum</a></td>
<td class="nump">5,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TypeOfArrangementAxis=bcrx_AgreementMember', window );">Agreement [Member] | CSL [Member] | RAPIVAB [Member] | Revenue from Sale of Inventory to be Recognized When the Inventory Transfer Is Complete [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueAdditions', window );">Deferred Revenue, Additions</a></td>
<td class="nump">3,740<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TypeOfArrangementAxis=bcrx_AgreementMember', window );">Agreement [Member] | CSL [Member] | RAPIVAB [Member] | Regulatory Support Revenue for Canadian and EU Marketing Approvals, Portion Recognized Ratably Over Expected Period of Involvement [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueAdditions', window );">Deferred Revenue, Additions</a></td>
<td class="nump">1,223<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TypeOfArrangementAxis=bcrx_AgreementMember', window );">Agreement [Member] | CSL [Member] | RAPIVAB [Member] | Contingent upon EU Marketing Approval [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLicenseFeesReceived', window );">Proceeds from License Fees Received</a></td>
<td class="nump">$ 7,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_ComputerEquipmentMember', window );">Computer Equipment [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Property, Plant and Equipment, Useful Life</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=bcrx_LaboratoryEquipmentOfficeEquipmentAndSoftwareMember', window );">Laboratory Equipment, Office Equipment and Software [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Property, Plant and Equipment, Useful Life</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_FurnitureAndFixturesMember', window );">Furniture and Fixtures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Property, Plant and Equipment, Useful Life</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">7 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property, Plant and Equipment, Gross</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 566<span></span>
</td>
<td class="nump">540<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LeaseholdImprovementsMember', window );">Leasehold Improvements [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property, Plant and Equipment, Gross</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 8,405<span></span>
</td>
<td class="nump">$ 8,294<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LeaseholdImprovementsMember', window );">Leasehold Improvements [Member] | Birmingham Research Facility [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Property, Plant and Equipment, Useful Life</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">20 years 182 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property, Plant and Equipment, Gross</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,589<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MaximumMember', window );">Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_MaturityPeriodOfHighQualityMarketablesecurities', window );">Maturity Period of High Quality Marketable Securities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_AverageMaturityPeriodOfHighQualityMarketableSecurities', window );">Average Maturity Period of High Quality Marketable Securities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">1 year 180 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_MaturityperiodOfShortTermInvestment', window );">Maturity Period of Short Term Investment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">1 year<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MinimumMember', window );">Minimum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_MaturityperiodOfShortTermInvestment', window );">Maturity Period of Short Term Investment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">90 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_LongtermInvestmentMaturityMinimum', window );">Long-term Investment Maturity, Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">1 year<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis=bcrx_RoyaltyReceivableMember', window );">Royalty Receivable [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue', window );">Restricted Cash and Cash Equivalents, Current</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,876<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis=bcrx_CollateralForCreditMember', window );">Collateral for Credit [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue', window );">Restricted Cash and Cash Equivalents, Current</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,410<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CreditFacilityAxis=bcrx_SeniorCreditFacilityMember', window );">Senior Credit Facility [Member] | MidCap Financial Services, LLC [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCredit', window );">Long-term Line of Credit</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 23,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 23,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=bcrx_JPRRoyaltySubLLCMember', window );">JPR Royalty Sub LLC [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_RevenueRecognitionRoyaltyAndMilestoneRevenueRecognized', window );">Revenue Recognition Royalty and Milestone Revenue Recognized</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 30,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_AverageMaturityPeriodOfHighQualityMarketableSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Average maturity period of high quality marketable securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_AverageMaturityPeriodOfHighQualityMarketableSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_LeaseFinancingObligationNetOfCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Lease Financing obligation as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_LeaseFinancingObligationNetOfCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_LongtermInvestmentMaturityMinimum">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents long term investment maturity minimum.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_LongtermInvestmentMaturityMinimum</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_MaturityPeriodOfHighQualityMarketablesecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents maturity period of high quality marketable securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_MaturityPeriodOfHighQualityMarketablesecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_MaturityperiodOfShortTermInvestment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maturity period of short term investment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_MaturityperiodOfShortTermInvestment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_MilestonePaymentMaximum">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents milestone payment maximum.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_MilestonePaymentMaximum</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_NumberOfMajorCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the number of major customers accounting for 10% or more of the specified concentration risk benchmark, which includes, but not limited to, sales revenue, accounts receivable, etc.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_NumberOfMajorCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_RevenueRecognitionRoyaltyAndMilestoneRevenueRecognized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Revenue recognition royalty and milestone revenue recognized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_RevenueRecognitionRoyaltyAndMilestoneRevenueRecognized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdvertisingExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount charged to advertising expense for the period, which are expenses incurred with the objective of increasing revenue for a specified brand, product or product line.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 720<br> -SubTopic 35<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6420018&amp;loc=d3e36677-107848<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdvertisingExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfFinancingCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization expense attributable to debt issuance costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=64930785&amp;loc=d3e28555-108399<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(8))<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&amp;loc=d3e20235-122688<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(8))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AmortizationOfFinancingCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for capital leases.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84164817&amp;loc=d3e45280-112737<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsDue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CollateralAlreadyPostedAggregateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate fair value of assets that are already posted, at the end of the reporting period, as collateral for derivative instruments with credit-risk-related contingent features.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4H<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=84234895&amp;loc=SL5624258-113959<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CollateralAlreadyPostedAggregateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConcentrationRiskPercentage1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 18<br> -URI http://asc.fasb.org/extlink&amp;oid=84177426&amp;loc=d3e6351-108592<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=77997519&amp;loc=d3e13531-108611<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=84177426&amp;loc=d3e6404-108592<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 21<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=77997519&amp;loc=d3e13537-108611<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConcentrationRiskPercentage1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRevenueAdditions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred revenue recognized for transactions arising during the current reporting period. Deferred revenue is a liability as of the balance sheet date related to a revenue producing activity for which revenue has not yet been recognized. Generally, an Entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 13.A.4(a).Q1)<br> -URI http://asc.fasb.org/extlink&amp;oid=65893310&amp;loc=d3e214044-122780<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 13.A.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=65893310&amp;loc=d3e214044-122780<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredRevenueAdditions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeGainOnDerivative">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase in the fair value of derivatives recognized in the income statement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4C<br> -Subparagraph (a),(c),(d),(e)<br> -URI http://asc.fasb.org/extlink&amp;oid=84234895&amp;loc=SL5624171-113959<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4A<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84234895&amp;loc=SL5618551-113959<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeGainOnDerivative</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeLossOnDerivative">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of decrease in the fair value of derivatives recognized in the income statement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4A<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84234895&amp;loc=SL5618551-113959<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4C<br> -Subparagraph (a),(c),(d),(e)<br> -URI http://asc.fasb.org/extlink&amp;oid=84234895&amp;loc=SL5624171-113959<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeLossOnDerivative</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the cost of borrowed funds accounted for as interest expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=64930785&amp;loc=d3e28555-108399<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCredit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCredit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromLicenseFeesReceived">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cash received from licensees for license fees during the current period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromLicenseFeesReceived</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentUsefulLife">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentUsefulLife</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before tax of reclassification adjustments of other comprehensive income (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14A<br> -URI http://asc.fasb.org/extlink&amp;oid=84228862&amp;loc=SL7669686-108580<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash and cash equivalents restricted as to withdrawal or usage, classified as current. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=SL98516268-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3044-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueRecognitionMilestoneMethodRevenueRecognized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of consideration recognized during the period for the milestone or milestones.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 28<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=68058744&amp;loc=SL6892177-166501<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenueRecognitionMilestoneMethodRevenueRecognized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Revenues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Revenues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeInstrumentRiskAxis=us-gaap_ForeignExchangeContractMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentRiskAxis=us-gaap_ForeignExchangeContractMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_HedgingDesignationAxis=us-gaap_NondesignatedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_HedgingDesignationAxis=us-gaap_NondesignatedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeInstrumentRiskAxis=bcrx_CurrencyHedgeAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentRiskAxis=bcrx_CurrencyHedgeAgreementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LeaseArrangementTypeAxis=bcrx_BirminghamResearchFacilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProductOrServiceAxis=bcrx_RAPIVABMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConcentrationRiskByTypeAxis=us-gaap_CustomerConcentrationRiskMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueProductLineMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueProductLineMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MajorCustomersAxis=bcrx_ThreeCustomersMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MajorCustomersAxis=bcrx_ThreeCustomersMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProductOrServiceAxis=bcrx_SupplementalNDAForRaAPIVABMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProductOrServiceAxis=bcrx_SupplementalNDAForRaAPIVABMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TypeOfArrangementAxis=bcrx_AgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TypeOfArrangementAxis=bcrx_AgreementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CounterpartyNameAxis=bcrx_CSLMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CounterpartyNameAxis=bcrx_CSLMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRevenueArrangementTypeAxis=bcrx_RevenueFromSaleOfInventoryToBeRecognizedWhenTheInventoryTransferIsCompleteMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredRevenueArrangementTypeAxis=bcrx_RevenueFromSaleOfInventoryToBeRecognizedWhenTheInventoryTransferIsCompleteMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRevenueArrangementTypeAxis=bcrx_RegulatorySupportRevenueForCanadianAndEUMarketingApprovalsPortionRecognizedRatablyOverExpectedPeriodOfInvolvementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredRevenueArrangementTypeAxis=bcrx_RegulatorySupportRevenueForCanadianAndEUMarketingApprovalsPortionRecognizedRatablyOverExpectedPeriodOfInvolvementMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementScenarioAxis=bcrx_ContingentUponEuMarketingApprovalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementScenarioAxis=bcrx_ContingentUponEuMarketingApprovalMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_ComputerEquipmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_ComputerEquipmentMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=bcrx_LaboratoryEquipmentOfficeEquipmentAndSoftwareMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=bcrx_LaboratoryEquipmentOfficeEquipmentAndSoftwareMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_FurnitureAndFixturesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_FurnitureAndFixturesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LeaseholdImprovementsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LeaseholdImprovementsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=us-gaap_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MaximumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=us-gaap_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MinimumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis=bcrx_RoyaltyReceivableMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis=bcrx_RoyaltyReceivableMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis=bcrx_CollateralForCreditMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis=bcrx_CollateralForCreditMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CreditFacilityAxis=bcrx_SeniorCreditFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CreditFacilityAxis=bcrx_SeniorCreditFacilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityAxis=bcrx_MidCapFinancialServicesLLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=bcrx_MidCapFinancialServicesLLCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=bcrx_JPRRoyaltySubLLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=bcrx_JPRRoyaltySubLLCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<head>
<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6838996160">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 1 - Significant Accounting Policies and Concentrations of Risk - Fair Value of the Company's Investments by Type (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesAmortizedCost', window );">Amortized Cost</a></td>
<td class="nump">$ 105,241<span></span>
</td>
<td class="nump">$ 41,407<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_AvailableForSaleSecuritiesAccruedInterest', window );">Accrued Interest</a></td>
<td class="nump">412<span></span>
</td>
<td class="nump">77<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax', window );">Gross Unrealized Gains</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">11<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax', window );">Gross Unrealized Losses</a></td>
<td class="num">(244)<span></span>
</td>
<td class="num">(23)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecurities', window );">Estimated Fair Value</a></td>
<td class="nump">105,410<span></span>
</td>
<td class="nump">41,472<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentTypeAxis=us-gaap_USGovernmentAgenciesDebtSecuritiesMember', window );">US Government Agencies Debt Securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesAmortizedCost', window );">Amortized Cost</a></td>
<td class="nump">60,121<span></span>
</td>
<td class="nump">20,266<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_AvailableForSaleSecuritiesAccruedInterest', window );">Accrued Interest</a></td>
<td class="nump">177<span></span>
</td>
<td class="nump">34<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax', window );">Gross Unrealized Gains</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax', window );">Gross Unrealized Losses</a></td>
<td class="num">(122)<span></span>
</td>
<td class="num">(4)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecurities', window );">Estimated Fair Value</a></td>
<td class="nump">60,176<span></span>
</td>
<td class="nump">20,298<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentTypeAxis=us-gaap_CorporateDebtSecuritiesMember', window );">Corporate Debt Securities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesAmortizedCost', window );">Amortized Cost</a></td>
<td class="nump">34,021<span></span>
</td>
<td class="nump">6,179<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_AvailableForSaleSecuritiesAccruedInterest', window );">Accrued Interest</a></td>
<td class="nump">203<span></span>
</td>
<td class="nump">26<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax', window );">Gross Unrealized Gains</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax', window );">Gross Unrealized Losses</a></td>
<td class="num">(108)<span></span>
</td>
<td class="num">(8)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecurities', window );">Estimated Fair Value</a></td>
<td class="nump">34,116<span></span>
</td>
<td class="nump">6,199<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentTypeAxis=us-gaap_CertificatesOfDepositMember', window );">Certificates of Deposit [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesAmortizedCost', window );">Amortized Cost</a></td>
<td class="nump">11,099<span></span>
</td>
<td class="nump">14,962<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_AvailableForSaleSecuritiesAccruedInterest', window );">Accrued Interest</a></td>
<td class="nump">32<span></span>
</td>
<td class="nump">17<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax', window );">Gross Unrealized Gains</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">7<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax', window );">Gross Unrealized Losses</a></td>
<td class="num">(14)<span></span>
</td>
<td class="num">(11)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecurities', window );">Estimated Fair Value</a></td>
<td class="nump">$ 11,118<span></span>
</td>
<td class="nump">$ 14,975<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_AvailableForSaleSecuritiesAccruedInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents available for sale securities accrued interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_AvailableForSaleSecuritiesAccruedInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AvailableForSaleSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of investment in debt and equity securities categorized neither as held-to-maturity nor trading.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 25<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=75030427&amp;loc=d3e22054-111558<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -Subparagraph (aa)<br> -URI http://asc.fasb.org/extlink&amp;oid=82897076&amp;loc=d3e27232-111563<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=82896770&amp;loc=d3e26610-111562<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AvailableForSaleSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before tax of unrealized gain in accumulated other comprehensive income (AOCI) on investments in debt and equity securities classified as available-for-sale.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=82897076&amp;loc=d3e27161-111563<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before tax of unrealized loss in accumulated other comprehensive income (AOCI) on investments in debt and equity securities classified as available-for-sale.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=82897076&amp;loc=d3e27161-111563<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AvailableForSaleSecuritiesAmortizedCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This item represents the cost of debt and equity securities, which are categorized neither as held-to-maturity nor trading, net of adjustments including accretion, amortization, collection of cash, previous other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments recognized, as defined), and fair value hedge accounting adjustments, if any.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AvailableForSaleSecuritiesAmortizedCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentTypeAxis=us-gaap_USGovernmentAgenciesDebtSecuritiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentTypeAxis=us-gaap_USGovernmentAgenciesDebtSecuritiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentTypeAxis=us-gaap_CorporateDebtSecuritiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentTypeAxis=us-gaap_CorporateDebtSecuritiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentTypeAxis=us-gaap_CertificatesOfDepositMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentTypeAxis=us-gaap_CertificatesOfDepositMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>47
<FILENAME>R31.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6822155232">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 1 - Significant Accounting Policies and Concentrations of Risk - Scheduled Maturity for the Company's Investments (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue', window );">Maturing in one year or less</a></td>
<td class="nump">$ 64,115<span></span>
</td>
<td class="nump">$ 32,546<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsFairValue', window );">Maturing after one year through two years</a></td>
<td class="nump">34,257<span></span>
</td>
<td class="nump">8,926<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_AvailableForSaleSecuritiesDebtMaturitiesMaturingAfterTwoYears', window );">Maturing after two years</a></td>
<td class="nump">7,038<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecurities', window );">Total investments</a></td>
<td class="nump">$ 105,410<span></span>
</td>
<td class="nump">$ 41,472<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents available for sale securities debt maturities after one through two years fair value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_AvailableForSaleSecuritiesDebtMaturitiesMaturingAfterTwoYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents debt maturities after two years.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_AvailableForSaleSecuritiesDebtMaturitiesMaturingAfterTwoYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AvailableForSaleSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of investment in debt and equity securities categorized neither as held-to-maturity nor trading.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 25<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=75030427&amp;loc=d3e22054-111558<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -Subparagraph (aa)<br> -URI http://asc.fasb.org/extlink&amp;oid=82897076&amp;loc=d3e27232-111563<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=82896770&amp;loc=d3e26610-111562<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AvailableForSaleSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of available-for-sale debt securities maturing in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=82897076&amp;loc=d3e27198-111563<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 320<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=75019621&amp;loc=d3e62586-112803<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 320<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=82897076&amp;loc=d3e27161-111563<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>48
<FILENAME>R32.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6841652832">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 1 - Significant Accounting Policies and Concentrations of Risk- Summary of Receivables (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReceivablesNetCurrent', window );">Receivables</a></td>
<td class="nump">$ 6,117<span></span>
</td>
<td class="nump">$ 8,768<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivablesByBillingStatusTypeAxis=us-gaap_BilledRevenuesMember', window );">Billed Revenues [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReceivablesNetCurrent', window );">Receivables</a></td>
<td class="nump">3,902<span></span>
</td>
<td class="nump">5,094<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivablesByBillingStatusTypeAxis=us-gaap_UnbilledRevenuesMember', window );">Unbilled Revenues [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReceivablesNetCurrent', window );">Receivables</a></td>
<td class="nump">2,215<span></span>
</td>
<td class="nump">3,674<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis=bcrx_USDepartmentOfHealthAndHumanServicesMember', window );">US Department of Health and Human Services [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReceivablesNetCurrent', window );">Receivables</a></td>
<td class="nump">2,062<span></span>
</td>
<td class="nump">3,495<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis=bcrx_USDepartmentOfHealthAndHumanServicesMember', window );">US Department of Health and Human Services [Member] | Billed Revenues [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReceivablesNetCurrent', window );">Receivables</a></td>
<td class="nump">42<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis=bcrx_USDepartmentOfHealthAndHumanServicesMember', window );">US Department of Health and Human Services [Member] | Unbilled Revenues [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReceivablesNetCurrent', window );">Receivables</a></td>
<td class="nump">2,020<span></span>
</td>
<td class="nump">3,495<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis=bcrx_ShionogiAndCoLtdMember', window );">Shionogi and Co. Ltd [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReceivablesNetCurrent', window );">Receivables</a></td>
<td class="nump">1,600<span></span>
</td>
<td class="nump">3,451<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis=bcrx_ShionogiAndCoLtdMember', window );">Shionogi and Co. Ltd [Member] | Billed Revenues [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReceivablesNetCurrent', window );">Receivables</a></td>
<td class="nump">1,600<span></span>
</td>
<td class="nump">3,451<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis=bcrx_ShionogiAndCoLtdMember', window );">Shionogi and Co. Ltd [Member] | Unbilled Revenues [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReceivablesNetCurrent', window );">Receivables</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis=bcrx_GreenCrossCorporationMember', window );">Green Cross Corporation [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReceivablesNetCurrent', window );">Receivables</a></td>
<td class="nump">1,416<span></span>
</td>
<td class="nump">686<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis=bcrx_GreenCrossCorporationMember', window );">Green Cross Corporation [Member] | Billed Revenues [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReceivablesNetCurrent', window );">Receivables</a></td>
<td class="nump">1,388<span></span>
</td>
<td class="nump">686<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis=bcrx_GreenCrossCorporationMember', window );">Green Cross Corporation [Member] | Unbilled Revenues [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReceivablesNetCurrent', window );">Receivables</a></td>
<td class="nump">28<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis=bcrx_MundipharmaInternationalHoldingsLimitedMember', window );">Mundipharma International Holdings Limited [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReceivablesNetCurrent', window );">Receivables</a></td>
<td class="nump">47<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis=bcrx_MundipharmaInternationalHoldingsLimitedMember', window );">Mundipharma International Holdings Limited [Member] | Billed Revenues [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReceivablesNetCurrent', window );">Receivables</a></td>
<td class="nump">47<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis=bcrx_MundipharmaInternationalHoldingsLimitedMember', window );">Mundipharma International Holdings Limited [Member] | Unbilled Revenues [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReceivablesNetCurrent', window );">Receivables</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis=bcrx_SeqirusUKLimitedMember', window );">Seqirus UK Limited [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReceivablesNetCurrent', window );">Receivables</a></td>
<td class="nump">992<span></span>
</td>
<td class="nump">1,136<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis=bcrx_SeqirusUKLimitedMember', window );">Seqirus UK Limited [Member] | Billed Revenues [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReceivablesNetCurrent', window );">Receivables</a></td>
<td class="nump">825<span></span>
</td>
<td class="nump">957<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis=bcrx_SeqirusUKLimitedMember', window );">Seqirus UK Limited [Member] | Unbilled Revenues [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReceivablesNetCurrent', window );">Receivables</a></td>
<td class="nump">$ 167<span></span>
</td>
<td class="nump">$ 179<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ReceivablesNetCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total amount due to the entity within one year of the balance sheet date (or one operating cycle, if longer) from outside sources, including trade accounts receivable, notes and loans receivable, as well as any other types of receivables, net of allowances established for the purpose of reducing such receivables to an amount that approximates their net realizable value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(4))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 210<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-06(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6488278&amp;loc=d3e604059-122996<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(5))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ReceivablesNetCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesLoansAndFinancingReceivablesByBillingStatusTypeAxis=us-gaap_BilledRevenuesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivablesByBillingStatusTypeAxis=us-gaap_BilledRevenuesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesLoansAndFinancingReceivablesByBillingStatusTypeAxis=us-gaap_UnbilledRevenuesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivablesByBillingStatusTypeAxis=us-gaap_UnbilledRevenuesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis=bcrx_USDepartmentOfHealthAndHumanServicesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis=bcrx_USDepartmentOfHealthAndHumanServicesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis=bcrx_ShionogiAndCoLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis=bcrx_ShionogiAndCoLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis=bcrx_GreenCrossCorporationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis=bcrx_GreenCrossCorporationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis=bcrx_MundipharmaInternationalHoldingsLimitedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis=bcrx_MundipharmaInternationalHoldingsLimitedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis=bcrx_SeqirusUKLimitedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivablesByLegalEntityOfCounterpartyTypeAxis=bcrx_SeqirusUKLimitedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>49
<FILENAME>R33.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6821980656">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 1 - Significant Accounting Policies and Concentrations of Risk - Accrued Expenses (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeRelatedLiabilitiesCurrent', window );">Compensation and benefits</a></td>
<td class="nump">$ 2,905<span></span>
</td>
<td class="nump">$ 425<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_AccruedDevelopmentCosts', window );">Development costs</a></td>
<td class="nump">6,683<span></span>
</td>
<td class="nump">7,427<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_AccruedInventoryExpense', window );">Inventory</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">705<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedProfessionalFeesCurrent', window );">Professional fees</a></td>
<td class="nump">729<span></span>
</td>
<td class="nump">242<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TaxesPayableCurrent', window );">Duties and taxes</a></td>
<td class="nump">148<span></span>
</td>
<td class="nump">56<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAccruedLiabilitiesCurrent', window );">Other</a></td>
<td class="nump">2,234<span></span>
</td>
<td class="nump">1,981<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedLiabilitiesCurrent', window );">Total accrued expenses</a></td>
<td class="nump">$ 12,699<span></span>
</td>
<td class="nump">$ 10,836<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_AccruedDevelopmentCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents accrued development costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_AccruedDevelopmentCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_AccruedInventoryExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of accrued inventory expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_AccruedInventoryExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccruedLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedProfessionalFeesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred through that date and payable for professional fees, such as for legal and accounting services received. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6911-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6935-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccruedProfessionalFeesCurrent</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeRelatedLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeRelatedLiabilitiesCurrent</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>instant</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAccruedLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of expenses incurred but not yet paid classified as other, due within one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e7018-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6911-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6935-107765<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAccruedLiabilitiesCurrent</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TaxesPayableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred and payable for statutory income, sales, use, payroll, excise, real, property and other taxes. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19,20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TaxesPayableCurrent</td>
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<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6841647024">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 1 - Significant Accounting Policies and Concentrations of Risk - Summary of Revenues (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueGoodsNet', window );">Product sales, net</a></td>
<td class="nump">$ 1,501<span></span>
</td>
<td class="nump">$ 2,269<span></span>
</td>
<td class="nump">$ 6,291<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RoyaltyRevenue', window );">Royalty revenue</a></td>
<td class="nump">10,543<span></span>
</td>
<td class="nump">9,682<span></span>
</td>
<td class="nump">2,386<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueServicesNetAbstract', window );"><strong>Collaborative and other research and development revenues:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_CollaborativeAndOtherResearchAndDevelopmentRevenues', window );">Collaborative and other research and development revenues</a></td>
<td class="nump">13,142<span></span>
</td>
<td class="nump">14,402<span></span>
</td>
<td class="nump">39,580<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Total revenues</a></td>
<td class="nump">25,186<span></span>
</td>
<td class="nump">26,353<span></span>
</td>
<td class="nump">48,257<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CounterpartyNameAxis=bcrx_USDepartmentOfHealthAndHumanServicesMember', window );">US Department of Health and Human Services [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueServicesNetAbstract', window );"><strong>Collaborative and other research and development revenues:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_CollaborativeAndOtherResearchAndDevelopmentRevenues', window );">Collaborative and other research and development revenues</a></td>
<td class="nump">4,608<span></span>
</td>
<td class="nump">12,449<span></span>
</td>
<td class="nump">16,337<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CounterpartyNameAxis=bcrx_GreenCrossCorporationMember', window );">Green Cross Corporation [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueServicesNetAbstract', window );"><strong>Collaborative and other research and development revenues:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_CollaborativeAndOtherResearchAndDevelopmentRevenues', window );">Collaborative and other research and development revenues</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">132<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CounterpartyNameAxis=bcrx_ShionogiAndCoLtdMember', window );">Shionogi and Co. Ltd [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueServicesNetAbstract', window );"><strong>Collaborative and other research and development revenues:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_CollaborativeAndOtherResearchAndDevelopmentRevenues', window );">Collaborative and other research and development revenues</a></td>
<td class="nump">1,184<span></span>
</td>
<td class="nump">1,184<span></span>
</td>
<td class="nump">1,184<span></span>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CounterpartyNameAxis=bcrx_SeqirusUKLimitedMember', window );">Seqirus UK Limited [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueServicesNetAbstract', window );"><strong>Collaborative and other research and development revenues:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_CollaborativeAndOtherResearchAndDevelopmentRevenues', window );">Collaborative and other research and development revenues</a></td>
<td class="nump">$ 7,350<span></span>
</td>
<td class="nump">$ 769<span></span>
</td>
<td class="nump">$ 21,927<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents collaborative and other research and development.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_CollaborativeAndOtherResearchAndDevelopmentRevenues</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Revenues</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RoyaltyRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Revenue earned during the period from the leasing or otherwise lending to a third party the entity's rights or title to certain property. Royalty revenue is derived from a percentage or stated amount of sales proceeds or revenue generated by the third party using the entity's property. Examples of property from which royalties may be derived include patents and oil and mineral rights.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1(e))<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RoyaltyRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SalesRevenueGoodsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate revenue during the period from the sale of goods in the normal course of business, after deducting returns, allowances and discounts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SalesRevenueGoodsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SalesRevenueServicesNetAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SalesRevenueServicesNetAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CounterpartyNameAxis=bcrx_USDepartmentOfHealthAndHumanServicesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CounterpartyNameAxis=bcrx_USDepartmentOfHealthAndHumanServicesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CounterpartyNameAxis=bcrx_GreenCrossCorporationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CounterpartyNameAxis=bcrx_GreenCrossCorporationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CounterpartyNameAxis=bcrx_ShionogiAndCoLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CounterpartyNameAxis=bcrx_ShionogiAndCoLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CounterpartyNameAxis=bcrx_SeqirusUKLimitedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CounterpartyNameAxis=bcrx_SeqirusUKLimitedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>51
<FILENAME>R35.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6822012080">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 2 - Property and Equipment (Details Textual) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationDepletionAndAmortization', window );">Depreciation, Depletion and Amortization</a></td>
<td class="nump">$ 704<span></span>
</td>
<td class="nump">$ 483<span></span>
</td>
<td class="nump">$ 180<span></span>
</td>
</tr>
</table>
<div style="display: none;"><table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationDepletionAndAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepreciationDepletionAndAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table></div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>52
<FILENAME>R36.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6844912592">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 2 - Property and Equipment - Property and Equipment (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property and equipment</a></td>
<td class="nump">$ 14,873<span></span>
</td>
<td class="nump">$ 14,839<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment', window );">Less accumulated depreciation and amortization</a></td>
<td class="num">(5,327)<span></span>
</td>
<td class="num">(4,917)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property and equipment, net</a></td>
<td class="nump">9,546<span></span>
</td>
<td class="nump">9,922<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_FurnitureAndFixturesMember', window );">Furniture and Fixtures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property and equipment</a></td>
<td class="nump">566<span></span>
</td>
<td class="nump">540<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_OfficeEquipmentMember', window );">Office Equipment [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property and equipment</a></td>
<td class="nump">146<span></span>
</td>
<td class="nump">141<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_SoftwareDevelopmentMember', window );">Software Development [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property and equipment</a></td>
<td class="nump">1,125<span></span>
</td>
<td class="nump">1,117<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=bcrx_LaboratoryEquipmentMember', window );">Laboratory Equipment [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property and equipment</a></td>
<td class="nump">2,984<span></span>
</td>
<td class="nump">3,252<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=bcrx_LeasedEquipmentMember', window );">Leased Equipment [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property and equipment</a></td>
<td class="nump">152<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LeaseholdImprovementsMember', window );">Leasehold Improvements [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property and equipment</a></td>
<td class="nump">8,405<span></span>
</td>
<td class="nump">8,294<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_BuildingMember', window );">Building [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property and equipment</a></td>
<td class="nump">$ 1,495<span></span>
</td>
<td class="nump">$ 1,495<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.14)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(13))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(14))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(8))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_FurnitureAndFixturesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_FurnitureAndFixturesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_OfficeEquipmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_OfficeEquipmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_SoftwareDevelopmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_SoftwareDevelopmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=bcrx_LaboratoryEquipmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=bcrx_LaboratoryEquipmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=bcrx_LeasedEquipmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=bcrx_LeasedEquipmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LeaseholdImprovementsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LeaseholdImprovementsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_BuildingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_BuildingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</div></td></tr>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6837108288">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 3 - Royalty Monetization (Details Textual)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>May 18, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 09, 2011 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>May 18, 2016 </div>
<div>JPY (&#165;)</div>
</th>
<th class="th"><div>Sep. 30, 2013</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentRiskAxis=bcrx_CurrencyHedgeAgreementMember', window );">Currency Hedge Agreement [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CollateralAlreadyPostedAggregateFairValue', window );">Collateral Already Posted, Aggregate Fair Value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentRiskAxis=us-gaap_ForeignExchangeContractMember', window );">Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLossOnDerivative', window );">Derivative, Loss on Derivative</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,787<span></span>
</td>
<td class="nump">1,654<span></span>
</td>
<td class="nump">$ 564<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeGainOnDerivative', window );">Derivative, Gain on Derivative</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 966<span></span>
</td>
<td class="nump">811<span></span>
</td>
<td class="nump">$ 1,654<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=bcrx_PhaRMANotesMember', window );">PhaRMA Notes Member] | Currency Hedge Agreement [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsForProceedsFromHedgeInvestingActivities', window );">Payments for (Proceeds from) Hedge, Investing Activities</a></td>
<td class="nump">$ 1,950<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_RequiredForeignCurrencyHedgePerDollar', window );">Required Foreign Currency Hedge Per Dollar | &#165;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#165; 100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=bcrx_PhaRMANotesMember', window );">PhaRMA Notes Member] | Japan, Yen | Currency Hedge Agreement [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeForwardExchangeRate1', window );">Derivative, Forward Exchange Rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=bcrx_JPRRoyaltySubLLCMember', window );">JPR Royalty Sub LLC [Member] | PhaRMA Notes Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_PrivatePlacementOfSeniorSecuredNotes', window );">Private Placement of Senior Secured Notes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 30,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Debt Instrument, Interest Rate, Stated Percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_PercentageOfCarryingAmountInExcessOfFairValue1', window );">Percentage of Carrying Amount in Excess of Fair Value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=bcrx_JPRRoyaltySubLLCMember', window );">JPR Royalty Sub LLC [Member] | PhaRMA Notes Member] | Currency Hedge Agreement [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CollateralAlreadyPostedAggregateFairValue', window );">Collateral Already Posted, Aggregate Fair Value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_MaximumAmountOfCollateralRequiredToPost', window );">Maximum Amount of Collateral Required to Post</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,850<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=bcrx_JPRRoyaltySubLLCMember', window );">JPR Royalty Sub LLC [Member] | PhaRMA Notes Member] | Fair Value, Inputs, Level 2 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableFairValueDisclosure', window );">Notes Payable, Fair Value Disclosure</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 30,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=bcrx_JPRRoyaltySubLLCMember', window );">JPR Royalty Sub LLC [Member] | Royalty Monetization [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Debt Instrument, Face Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 30,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfSecuredDebt', window );">Proceeds from Issuance of Secured Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">22,691<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_TransactionCosts', window );">Transaction Costs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,309<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_InterestReserve', window );">Interest Reserve</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_InterestReserve">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents interest reserve established as part of the royalty monetization.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_InterestReserve</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_MaximumAmountOfCollateralRequiredToPost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents maximum amount of collateral required to post.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_MaximumAmountOfCollateralRequiredToPost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_PercentageOfCarryingAmountInExcessOfFairValue1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the percentage of carrying amount in excess of fair value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_PercentageOfCarryingAmountInExcessOfFairValue1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_PrivatePlacementOfSeniorSecuredNotes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents private placement of senior secured notes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_PrivatePlacementOfSeniorSecuredNotes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_RequiredForeignCurrencyHedgePerDollar">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The Company is required to maintain a foreign currency hedge per dollar under the agreements governing the PhaRMA Notes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_RequiredForeignCurrencyHedgePerDollar</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_TransactionCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents transaction costs associated with royalty monetization.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_TransactionCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CollateralAlreadyPostedAggregateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate fair value of assets that are already posted, at the end of the reporting period, as collateral for derivative instruments with credit-risk-related contingent features.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4H<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=84234895&amp;loc=SL5624258-113959<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CollateralAlreadyPostedAggregateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentFaceAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face (par) amount of debt instrument at time of issuance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 55<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=64930739&amp;loc=d3e28878-108400<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=64930785&amp;loc=d3e28551-108399<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentFaceAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentInterestRateStatedPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Contractual interest rate for funds borrowed, under the debt agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentInterestRateStatedPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeForwardExchangeRate1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Contractual rate at which a foreign currency can be purchased or sold.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeForwardExchangeRate1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase in the fair value of derivatives recognized in the income statement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4C<br> -Subparagraph (a),(c),(d),(e)<br> -URI http://asc.fasb.org/extlink&amp;oid=84234895&amp;loc=SL5624171-113959<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4A<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84234895&amp;loc=SL5618551-113959<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeGainOnDerivative</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of decrease in the fair value of derivatives recognized in the income statement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4A<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84234895&amp;loc=SL5618551-113959<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4C<br> -Subparagraph (a),(c),(d),(e)<br> -URI http://asc.fasb.org/extlink&amp;oid=84234895&amp;loc=SL5624171-113959<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeLossOnDerivative</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value portion of notes payable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19,20,22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesPayableFairValueDisclosure</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow or inflow for a financial contract that meets the hedge criteria as either a cash flow hedge, fair value hedge, or hedge of a net investment in a foreign operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 27<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3581-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 9<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3098-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3095-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from amounts received from issuance of long-term debt that is wholly or partially secured by collateral. Excludes proceeds from tax exempt secured debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3255-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromIssuanceOfSecuredDebt</td>
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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 4 - Senior Credit Facility (Details Textual) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Sep. 23, 2016</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
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<td class="text">&#160;<span></span>
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<td class="nump">$ 16,750<span></span>
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<td class="nump">$ 22,777<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">$ 23,000<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_DebtInstrumentMinimumLibor', window );">Debt Instrument, Minimum LIBOR</a></td>
<td class="nump">0.50%<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">3 years 120 days<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">5.00%<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityInterestRateAtPeriodEnd', window );">Line of Credit Facility, Interest Rate at Period End</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9.40%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=bcrx_MidCapFinancialServicesLLCMember', window );">MidCap Financial Services, LLC [Member] | Senior Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1', window );">Debt Instrument, Basis Spread on Variable Rate</a></td>
<td class="nump">8.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_DebtInstrumentFinalPaymentFeePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage fee of principal amount of debt at which final payment has been made.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_DebtInstrumentFinalPaymentFeePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_DebtInstrumentMinimumLibor">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The minimum LIBOR interest that will be added to the basis spread.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_DebtInstrumentMinimumLibor</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage points added to the reference rate to compute the variable rate on the debt instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentBasisSpreadOnVariableRate1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCredit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCredit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityInterestRateAtPeriodEnd">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The effective interest rate at the end of the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityInterestRateAtPeriodEnd</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityAxis=bcrx_MidCapFinancialServicesLLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=bcrx_MidCapFinancialServicesLLCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CreditFacilityAxis=bcrx_SeniorCreditFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CreditFacilityAxis=bcrx_SeniorCreditFacilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_VariableRateAxis=us-gaap_LondonInterbankOfferedRateLIBORMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_VariableRateAxis=us-gaap_LondonInterbankOfferedRateLIBORMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<head>
<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6822019040">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 4 - Senior Credit Facility - Scheduled Principal Repayments of the Credit Facility (Details)<br> $ in Millions</strong></div></th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo', window );">2018</a></td>
<td class="nump">$ 6.9<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree', window );">2019</a></td>
<td class="nump">6.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour', window );">2020</a></td>
<td class="nump">6.9<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive', window );">2021</a></td>
<td class="nump">2.3<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Total</a></td>
<td class="nump">$ 23.0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6817802800">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 5 - Lease Obligations and Other Contingencies (Details Textual) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesRentExpenseNet', window );">Operating Leases, Rent Expense, Net</a></td>
<td class="nump">$ 617<span></span>
</td>
<td class="nump">$ 721<span></span>
</td>
<td class="nump">$ 664<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property, Plant and Equipment, Gross</a></td>
<td class="nump">14,873<span></span>
</td>
<td class="nump">14,839<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_LeaseFinancingObligationNetOfCurrent', window );">Lease Financing Obligation, Net of Current</a></td>
<td class="nump">2,751<span></span>
</td>
<td class="nump">2,704<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDue', window );">Operating Leases, Future Minimum Payments Due</a></td>
<td class="nump">6,153<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LeaseArrangementTypeAxis=bcrx_BirminghamResearchFacilityMember', window );">Birmingham Research Facility [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_LeaseFinancingObligationNetOfCurrent', window );">Lease Financing Obligation, Net of Current</a></td>
<td class="nump">2,704<span></span>
</td>
<td class="nump">2,704<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDue', window );">Operating Leases, Future Minimum Payments Due</a></td>
<td class="nump">4,334<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LeaseArrangementTypeAxis=bcrx_BirminghamResearchFacilityMember', window );">Birmingham Research Facility [Member] | Long Term Liabilities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_LeaseFinancingObligationNetOfCurrent', window );">Lease Financing Obligation, Net of Current</a></td>
<td class="nump">2,704<span></span>
</td>
<td class="nump">2,704<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LeaseholdImprovementsMember', window );">Leasehold Improvements [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property, Plant and Equipment, Gross</a></td>
<td class="nump">$ 8,405<span></span>
</td>
<td class="nump">$ 8,294<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LeaseholdImprovementsMember', window );">Leasehold Improvements [Member] | Birmingham Research Facility [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property, Plant and Equipment, Gross</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,589<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Lease Financing obligation as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for leases having an initial or remaining non-cancelable letter-terms in excess of one year.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=82846649&amp;loc=d3e38371-112697<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=77902758&amp;loc=d3e41502-112717<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Rental expense for the reporting period incurred under operating leases, including minimum and any contingent rent expense, net of related sublease income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=77902758&amp;loc=d3e41499-112717<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6817462496">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 5 - Lease Obligations and Other Contingencies - Minimum Payments under Operating Lease Obligations (Details)<br> $ in Thousands</strong></div></th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent', window );">2018</a></td>
<td class="nump">$ 1,169<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears', window );">2019</a></td>
<td class="nump">1,154<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears', window );">2020</a></td>
<td class="nump">862<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears', window );">2021</a></td>
<td class="nump">479<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears', window );">2022</a></td>
<td class="nump">490<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter', window );">Thereafter</a></td>
<td class="nump">1,999<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDue', window );">Total minimum payments</a></td>
<td class="nump">$ 6,153<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for leases having an initial or remaining non-cancelable letter-terms in excess of one year.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=82846649&amp;loc=d3e38371-112697<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=77902758&amp;loc=d3e41502-112717<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsDue</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=82846649&amp;loc=d3e38371-112697<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=77902758&amp;loc=d3e41502-112717<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=77902758&amp;loc=d3e41502-112717<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=82846649&amp;loc=d3e38371-112697<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=77902758&amp;loc=d3e41502-112717<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=82846649&amp;loc=d3e38371-112697<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=77902758&amp;loc=d3e41502-112717<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=82846649&amp;loc=d3e38371-112697<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=82846649&amp;loc=d3e38371-112697<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=77902758&amp;loc=d3e41502-112717<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=82846649&amp;loc=d3e38371-112697<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=77902758&amp;loc=d3e41502-112717<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6828429984">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 6 - Stockholders' Equity (Details Textual) - USD ($)<br> $ / shares in Units, shares in Thousands, $ in Thousands</strong></div></th>
<th class="th" colspan="2">1 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2017</div></th>
<th class="th"><div>Mar. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Nov. 08, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues', window );">Stock Issued During Period, Shares, New Issues</a></td>
<td class="nump">17,864<span></span>
</td>
<td class="nump">6,061<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssuedPricePerShare', window );">Shares Issued, Price Per Share</a></td>
<td class="nump">$ 5.15<span></span>
</td>
<td class="nump">$ 8.50<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfCommonStock', window );">Proceeds from Issuance of Common Stock</a></td>
<td class="nump">$ 86,250<span></span>
</td>
<td class="nump">$ 47,750<span></span>
</td>
<td class="nump">$ 134,000<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_MaximumAggregateOfferingPrice', window );">Maximum Aggregate Offering Price</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 200,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_MaximumAggregateOfferingPrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the maximum aggregate offering price of common stock, preferred stock, depository shares, stock purchase contracts, warrants and units.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_MaximumAggregateOfferingPrice</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOfCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the additional capital contribution to the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3255-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromIssuanceOfCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharesIssuedPricePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Per share or per unit amount of equity securities issued.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharesIssuedPricePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of new stock issued during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84159872&amp;loc=d3e21463-112644<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesNewIssues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6837199264">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 7 - Stock-based Compensation (Details Textual)<br> $ / shares in Units, shares in Thousands, $ in Thousands</strong></div></th>
<th class="th" colspan="1">1 Months Ended</th>
<th class="th" colspan="4">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Aug. 31, 2013 </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>USD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2016 </div>
<div>USD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>shares</div>
</th>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_NumberOfStockbasedCompensationPlans', window );">Number of Stock-based Compensation Plans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllocatedShareBasedCompensationExpense', window );">Allocated Share-based Compensation Expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 12,621<span></span>
</td>
<td class="nump">$ 8,487<span></span>
</td>
<td class="nump">$ 9,705<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,915<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3.63<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 7,631<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 9,310<span></span>
</td>
<td class="nump">6,380<span></span>
</td>
<td class="nump">4,492<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">13,267<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5.95<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">6 years 292 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized', window );">Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 17,785<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_EmployeeServiceSharebasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedNextYear', window );">Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Expected to be Recognized Next Year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,607<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearTwo', window );">Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Expected to be Recognized Year Two</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,452<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearThree', window );">Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Expected to be Recognized Year Three</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,365<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearFour', window );">Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Expected to be Recognized Year Four</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,361<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=bcrx_IncentivePlanMember', window );">Incentive Plan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllocatedShareBasedCompensationExpense', window );">Allocated Share-based Compensation Expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 12,421<span></span>
</td>
<td class="nump">$ 8,340<span></span>
</td>
<td class="nump">$ 9,485<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">5 years 36 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3.63<span></span>
</td>
<td class="nump">$ 2.17<span></span>
</td>
<td class="nump">$ 7.72<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate', window );">Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,964<span></span>
</td>
<td class="nump">$ 339<span></span>
</td>
<td class="nump">$ 10,117<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant', window );">Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">468<span></span>
</td>
<td class="nump">2,273<span></span>
</td>
<td class="nump">16<span></span>
</td>
<td class="nump">2,362<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=bcrx_IncentivePlanMember', window );">Incentive Plan [Member] | Employee Stock Option [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate', window );">Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=bcrx_IncentivePlanMember', window );">Incentive Plan [Member] | Employee Stock Option [Member] | Minimum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=bcrx_IncentivePlanMember', window );">Incentive Plan [Member] | Employee Stock Option [Member] | Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=bcrx_IncentivePlanMember', window );">Incentive Plan [Member] | Employee Stock Option [Member] | Non-employee Directors [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_ShareBasedCompensationArrangementByShareBasedPaymentAwardFirstVestingPeriodAfterGrantDate', window );">Share-based Compensation Arrangement by Share-based Payment Award, First Vesting Period After Grant Date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">1 year<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=bcrx_IncentivePlanMember', window );">Incentive Plan [Member] | Employee Stock Option [Member] | Vest 25% Each Year Until Fully Vested [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage', window );">Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1', window );">Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">4 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=bcrx_IncentivePlanMember', window );">Incentive Plan [Member] | Stock Options and Restricted Stock [Member] | Vest 50% Each Year Until Fully Vested [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage', window );">Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1', window );">Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=bcrx_IncentivePlanMember', window );">Incentive Plan [Member] | Performance Shares [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllocatedShareBasedCompensationExpense', window );">Allocated Share-based Compensation Expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=bcrx_IncentivePlanMember', window );">Incentive Plan [Member] | Performance Shares [Member] | Vest Upon Successful Completion of Specific Development Milestones [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares</a></td>
<td class="nump">1,032<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,250<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=bcrx_IncentivePlanMember', window );">Incentive Plan [Member] | Performance Shares [Member] | Vest Upon Successful Completion of Specific Development Milestones [Member] | August 2013 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage', window );">Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">75.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_SharebasedCompensationArrangementBySharbasedPaymentAwardAwardsUnvestedPercentage', window );">Share-based Compensation Arrangement by Shar-based Payment Award, Awards Unvested, Percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=bcrx_IncentivePlanMember', window );">Incentive Plan [Member] | Performance Shares [Member] | Vest Upon Successful Completion of Specific Development Milestones [Member] | December 2014 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage', window );">Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_SharebasedCompensationArrangementBySharbasedPaymentAwardAwardsUnvestedPercentage', window );">Share-based Compensation Arrangement by Shar-based Payment Award, Awards Unvested, Percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">70.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=bcrx_IncentivePlanMember', window );">Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber', window );">Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">210<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=bcrx_EmployeeStockPurchasePlanMember', window );">Employee Stock Purchase Plan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllocatedShareBasedCompensationExpense', window );">Allocated Share-based Compensation Expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 200<span></span>
</td>
<td class="nump">$ 147<span></span>
</td>
<td class="nump">$ 220<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized', window );">Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,475<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant', window );">Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">326<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_PercentageOfSalaryToPurchaseCommonStockMaximum', window );">Percentage of Salary to Purchase Common Stock, Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_PercentageOfCommonStockSharesBeginning', window );">Percentage of Common Stock Shares, Beginning</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">85.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_PercentageOfCommonStockSharesEnding', window );">Percentage of Common Stock Shares, Ending</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">85.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesPerEmployee', window );">Share-based Compensation Arrangement by Share-based Payment Award, Maximum Number of Shares Per Employee | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_ShareBasedCompensationArrangementBySharbasedPaymentAwardMaximumNumberOfSharesPerEmployeeAmount', window );">Shar-based Compensation Arrangement by Shar-based Payment Award, Maximum Number of Shares Per Employee, Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 25<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans', window );">Stock Issued During Period, Shares, Employee Stock Purchase Plans | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">95<span></span>
</td>
<td class="nump">75<span></span>
</td>
<td class="nump">41<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeStockOwnershipPlanESOPWeightedAveragePurchasePriceOfSharesPurchased', window );">Employee Stock Ownership Plan (ESOP), Weighted Average Purchase Price of Shares Purchased | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3.61<span></span>
</td>
<td class="nump">$ 4.36<span></span>
</td>
<td class="nump">$ 8.65<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2.18<span></span>
</td>
<td class="nump">$ 1.95<span></span>
</td>
<td class="nump">$ 4.93<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearFour">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Employee service share based compensation nonvested awards compensation cost expected to be recognized year four.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearFour</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearThree">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Employee service share based compensation nonvested awards compensation cost expected to be recognized year three.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearThree</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearTwo">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Employee service share based compensation nonvested awards compensation cost expected to be recognized year two.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedYearTwo</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_EmployeeServiceSharebasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedNextYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Employee service share-based compensation nonvested awards compensation cost expected to be recognized next year.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_EmployeeServiceSharebasedCompensationNonvestedAwardsCompensationCostExpectedToBeRecognizedNextYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_NumberOfStockbasedCompensationPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents number of stock based compensation plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_NumberOfStockbasedCompensationPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_PercentageOfCommonStockSharesBeginning">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents percentage of common stock shares beginning.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_PercentageOfCommonStockSharesBeginning</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_PercentageOfCommonStockSharesEnding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents percentage of common stock shares ending.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_PercentageOfCommonStockSharesEnding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_PercentageOfSalaryToPurchaseCommonStockMaximum">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents percentage of salary to purchase common stock maximum.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_PercentageOfSalaryToPurchaseCommonStockMaximum</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_ShareBasedCompensationArrangementBySharbasedPaymentAwardMaximumNumberOfSharesPerEmployeeAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents share-based compensation arrangement by share-based payment award maximum value per employee amount.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_ShareBasedCompensationArrangementBySharbasedPaymentAwardMaximumNumberOfSharesPerEmployeeAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_ShareBasedCompensationArrangementByShareBasedPaymentAwardFirstVestingPeriodAfterGrantDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Share based compensation arrangement by share based payment award first vesting period after grant date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_ShareBasedCompensationArrangementByShareBasedPaymentAwardFirstVestingPeriodAfterGrantDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_SharebasedCompensationArrangementBySharbasedPaymentAwardAwardsUnvestedPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the percentage of performance awards that remain unvested.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_SharebasedCompensationArrangementBySharbasedPaymentAwardAwardsUnvestedPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllocatedShareBasedCompensationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 14.F)<br> -URI http://asc.fasb.org/extlink&amp;oid=27013229&amp;loc=d3e301413-122809<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5047-113901<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(1)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AllocatedShareBasedCompensationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Unrecognized cost of unvested share-based compensation awards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (i)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeStockOwnershipPlanESOPWeightedAveragePurchasePriceOfSharesPurchased">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average purchase price of capital shares purchased through an employee stock ownership plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeStockOwnershipPlanESOPWeightedAveragePurchasePriceOfSharesPurchased</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Period which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(2)(iii)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesPerEmployee">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The highest quantity of shares an employee can purchase under the plan per period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesPerEmployee</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of equity instruments other than options outstanding, including both vested and non-vested instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of shares (or other type of equity) originally approved (usually by shareholders and board of directors), net of any subsequent amendments and adjustments, for awards under the equity-based compensation plan. As stock or unit options and equity instruments other than options are awarded to participants, the shares or units remain authorized and become reserved for issuance under outstanding awards (not necessarily vested).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The difference between the maximum number of shares (or other type of equity) authorized for issuance under the plan (including the effects of amendments and adjustments), and the sum of: 1) the number of shares (or other type of equity) already issued upon exercise of options or other equity-based awards under the plan; and 2) shares (or other type of equity) reserved for issuance on granting of outstanding awards, net of cancellations and forfeitures, if applicable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated difference between fair value of underlying shares on dates of exercise and exercise price on options exercised (or share units converted) into shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (d)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gross number of share options (or share units) granted during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (d)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of fully vested and expected to vest options outstanding that can be converted into shares under option plan. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted-average exercise price, at which grantee can acquire shares reserved for issuance, for fully vested and expected to vest options outstanding. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of vesting of share-based compensation awards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of difference between fair value of the underlying shares reserved for issuance and exercise price of vested portions of options outstanding and currently exercisable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average remaining contractual term for vested portions of options outstanding and currently exercisable or convertible, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average remaining contractual term for fully vested and expected to vest options outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of options vested. Excludes equity instruments other than options, for example, but not limited to, share units, stock appreciation rights, restricted stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares issued during the period as a result of an employee stock purchase plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84159872&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PlanNameAxis=bcrx_IncentivePlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PlanNameAxis=bcrx_IncentivePlanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=us-gaap_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MinimumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=us-gaap_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MaximumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TitleOfIndividualAxis=bcrx_NonEmployeeDirectorsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TitleOfIndividualAxis=bcrx_NonEmployeeDirectorsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_VestingAxis=bcrx_Vest25PercentEachYearUntilFullyVestedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_VestingAxis=bcrx_Vest25PercentEachYearUntilFullyVestedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=bcrx_StockOptionsAndRestrictedStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=bcrx_StockOptionsAndRestrictedStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_VestingAxis=bcrx_Vest50PercentEachYearUntilFullyVestedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_VestingAxis=bcrx_Vest50PercentEachYearUntilFullyVestedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=us-gaap_PerformanceSharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=us-gaap_PerformanceSharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_VestingAxis=bcrx_VestUponSuccessfulCompletionOfSpecificDevelopmentMilestonesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_VestingAxis=bcrx_VestUponSuccessfulCompletionOfSpecificDevelopmentMilestonesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardDateAxis=bcrx_August2013Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardDateAxis=bcrx_August2013Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardDateAxis=bcrx_December2014Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardDateAxis=bcrx_December2014Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=us-gaap_RestrictedStockUnitsRSUMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=us-gaap_RestrictedStockUnitsRSUMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PlanNameAxis=bcrx_EmployeeStockPurchasePlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PlanNameAxis=bcrx_EmployeeStockPurchasePlanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>60
<FILENAME>R44.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6650507408">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 7 - Stock-Based Compensation - Stock-based Compensation Allocation (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllocatedShareBasedCompensationExpense', window );">Allocated Share-based Compensation Expense</a></td>
<td class="nump">$ 12,621<span></span>
</td>
<td class="nump">$ 8,487<span></span>
</td>
<td class="nump">$ 9,705<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementLocationAxis=us-gaap_ResearchAndDevelopmentExpenseMember', window );">Research and Development Expense [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllocatedShareBasedCompensationExpense', window );">Allocated Share-based Compensation Expense</a></td>
<td class="nump">9,602<span></span>
</td>
<td class="nump">6,088<span></span>
</td>
<td class="nump">7,580<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementLocationAxis=us-gaap_GeneralAndAdministrativeExpenseMember', window );">General and Administrative Expense [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllocatedShareBasedCompensationExpense', window );">Allocated Share-based Compensation Expense</a></td>
<td class="nump">$ 3,019<span></span>
</td>
<td class="nump">$ 2,399<span></span>
</td>
<td class="nump">$ 2,125<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllocatedShareBasedCompensationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 14.F)<br> -URI http://asc.fasb.org/extlink&amp;oid=27013229&amp;loc=d3e301413-122809<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5047-113901<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(1)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AllocatedShareBasedCompensationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeStatementLocationAxis=us-gaap_ResearchAndDevelopmentExpenseMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeStatementLocationAxis=us-gaap_ResearchAndDevelopmentExpenseMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeStatementLocationAxis=us-gaap_GeneralAndAdministrativeExpenseMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeStatementLocationAxis=us-gaap_GeneralAndAdministrativeExpenseMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>61
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6844910096">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 7 - Stock-based Compensation - Stock Incentive Plan Activities (Details) - Incentive Plan [Member] - $ / shares<br> shares in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant', window );">Awards available, beginning balance (in shares)</a></td>
<td class="nump">2,273<span></span>
</td>
<td class="nump">16<span></span>
</td>
<td class="nump">2,362<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Options outstanding, beginning balance (in shares)</a></td>
<td class="nump">12,095<span></span>
</td>
<td class="nump">10,671<span></span>
</td>
<td class="nump">9,605<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Weighted average exercise price, beginning balance (in dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6.21<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod', window );">Awards available, Restricted stock awards granted (in shares)</a></td>
<td class="num">(22)<span></span>
</td>
<td class="num">(34)<span></span>
</td>
<td class="num">(163)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod', window );">Awards available, Restricted stock awards cancelled (in shares)</a></td>
<td class="nump">12<span></span>
</td>
<td class="nump">22<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodAwardsAvailable', window );">Awards available, stock option awards granted (in shares)</a></td>
<td class="num">(3,915)<span></span>
</td>
<td class="num">(2,248)<span></span>
</td>
<td class="num">(2,217)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod', window );">Options outstanding, stock option awards granted (in shares)</a></td>
<td class="nump">3,915<span></span>
</td>
<td class="nump">2,248<span></span>
</td>
<td class="nump">2,217<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice', window );">Weighted average exercise price, stock option awards granted (in dollars per share)</a></td>
<td class="nump">$ 5.33<span></span>
</td>
<td class="nump">$ 3.20<span></span>
</td>
<td class="nump">$ 11.52<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Options outstanding, stock option awards exercised (in shares)</a></td>
<td class="num">(438)<span></span>
</td>
<td class="num">(107)<span></span>
</td>
<td class="num">(1,118)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice', window );">Weighted average exercise price, stock option awards exercised (in dollars per share)</a></td>
<td class="nump">$ 3.50<span></span>
</td>
<td class="nump">$ 2.63<span></span>
</td>
<td class="nump">$ 4.36<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsForfeituresInPeriodAwardsAvailable', window );">Awards available, stock option awards cancelled (in shares)</a></td>
<td class="nump">1,120<span></span>
</td>
<td class="nump">717<span></span>
</td>
<td class="nump">33<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod', window );">Options outstanding, stock option awards cancelled (in shares)</a></td>
<td class="num">(1,120)<span></span>
</td>
<td class="num">(717)<span></span>
</td>
<td class="num">(33)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice', window );">Weighted average exercise price, stock option awards cancelled (in dollars per share)</a></td>
<td class="nump">$ 9.72<span></span>
</td>
<td class="nump">$ 10.78<span></span>
</td>
<td class="nump">$ 9.87<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized', window );">Awards available, plan amendment (in shares)</a></td>
<td class="nump">1,000<span></span>
</td>
<td class="nump">3,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant', window );">Awards available, ending balance (in shares)</a></td>
<td class="nump">468<span></span>
</td>
<td class="nump">2,273<span></span>
</td>
<td class="nump">16<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Options outstanding, ending balance (in shares)</a></td>
<td class="nump">14,452<span></span>
</td>
<td class="nump">12,095<span></span>
</td>
<td class="nump">10,671<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice', window );">Weighted average exercise price, ending balance (in dollars per share)</a></td>
<td class="nump">$ 6.06<span></span>
</td>
<td class="nump">$ 6.55<span></span>
</td>
<td class="nump">$ 7.50<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodAwardsAvailable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents share based compensation arrangement by share based payment award options grants in period awards available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodAwardsAvailable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsForfeituresInPeriodAwardsAvailable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Share based compensation arrangement by share based payment award options forfeitures in period awards available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsForfeituresInPeriodAwardsAvailable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of equity-based payment instruments, excluding stock (or unit) options, that were forfeited during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of additional shares authorized for issuance under an established share-based compensation plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The difference between the maximum number of shares (or other type of equity) authorized for issuance under the plan (including the effects of amendments and adjustments), and the sum of: 1) the number of shares (or other type of equity) already issued upon exercise of options or other equity-based awards under the plan; and 2) shares (or other type of equity) reserved for issuance on granting of outstanding awards, net of cancellations and forfeitures, if applicable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options outstanding and currently exercisable under the stock option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iii)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For presentations that combine terminations, the number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan or that expired.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(3)-(4)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average price of options that were either forfeited or expired.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(3)-(4)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net number of share options (or share units) granted during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of options outstanding, including both vested and non-vested options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average price at which option holders acquired shares when converting their stock options into shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average per share amount at which grantees can acquire shares of common stock by exercise of options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of share options (or share units) exercised during the current period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84159872&amp;loc=d3e21463-112644<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PlanNameAxis=bcrx_IncentivePlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PlanNameAxis=bcrx_IncentivePlanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>62
<FILENAME>R46.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6822141936">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 7 - Stock-based Compensation - Weighted Average Assumptions for Stock Option Awards Granted to Employees and Directors Under the Incentive Plan (Details) - Incentive Plan [Member]<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1', window );">Expected Life (Year)</a></td>
<td class="text">5 years 182 days<span></span>
</td>
<td class="text">5 years 182 days<span></span>
</td>
<td class="text">5 years 182 days<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate', window );">Expected Volatility</a></td>
<td class="nump">82.00%<span></span>
</td>
<td class="nump">82.00%<span></span>
</td>
<td class="nump">81.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate', window );">Expected Dividend Yield</a></td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate', window );">Risk-Free Interest Rate</a></td>
<td class="nump">2.00%<span></span>
</td>
<td class="nump">1.40%<span></span>
</td>
<td class="nump">1.60%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(2)(iii)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(2)(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The risk-free interest rate assumption that is used in valuing an option on its own shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(2)(iv)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expected term of share-based compensation awards, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(2)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 14.D.2)<br> -URI http://asc.fasb.org/extlink&amp;oid=27013229&amp;loc=d3e301413-122809<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PlanNameAxis=bcrx_IncentivePlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PlanNameAxis=bcrx_IncentivePlanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>63
<FILENAME>R47.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6842980336">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 7 - Share-Based Compensation - Number of Stock Option Awards Exercisable and their Weighted Average Exercise Price (Details)<br> shares in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2017 </div>
<div>$ / shares </div>
<div>shares</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit', window );">Lower Exercise Price Range (in dollars per share)</a></td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit', window );">Upper Exercise Price Range (in dollars per share)</a></td>
<td class="nump">$ 18<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions', window );">Outstanding Number (in shares) | shares</a></td>
<td class="nump">14,452<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2', window );">Outstanding Weighted Average Remaining Life (Year)</a></td>
<td class="text">6 years 292 days<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1', window );">Outstanding Weighted Average Exercise Price (in dollars per share)</a></td>
<td class="nump">$ 6.06<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions', window );">Exercisable Number (in shares) | shares</a></td>
<td class="nump">7,250<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1', window );">Exercisable Weighted Average Exercise Price (in dollars per share)</a></td>
<td class="nump">$ 5.69<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=bcrx_ExercisePriceRange01Member', window );">Exercise Price Range 01 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit', window );">Lower Exercise Price Range (in dollars per share)</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit', window );">Upper Exercise Price Range (in dollars per share)</a></td>
<td class="nump">$ 3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions', window );">Outstanding Number (in shares) | shares</a></td>
<td class="nump">1,724<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2', window );">Outstanding Weighted Average Remaining Life (Year)</a></td>
<td class="text">4 years 255 days<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1', window );">Outstanding Weighted Average Exercise Price (in dollars per share)</a></td>
<td class="nump">$ 1.64<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions', window );">Exercisable Number (in shares) | shares</a></td>
<td class="nump">1,598<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1', window );">Exercisable Weighted Average Exercise Price (in dollars per share)</a></td>
<td class="nump">$ 1.55<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=bcrx_ExercisePriceRange02Member', window );">Exercise Price Range 02 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit', window );">Lower Exercise Price Range (in dollars per share)</a></td>
<td class="nump">3<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit', window );">Upper Exercise Price Range (in dollars per share)</a></td>
<td class="nump">$ 6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions', window );">Outstanding Number (in shares) | shares</a></td>
<td class="nump">8,303<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2', window );">Outstanding Weighted Average Remaining Life (Year)</a></td>
<td class="text">7 years 182 days<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1', window );">Outstanding Weighted Average Exercise Price (in dollars per share)</a></td>
<td class="nump">$ 4.63<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions', window );">Exercisable Number (in shares) | shares</a></td>
<td class="nump">3,066<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1', window );">Exercisable Weighted Average Exercise Price (in dollars per share)</a></td>
<td class="nump">$ 4.31<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=bcrx_ExercisePriceRange03Member', window );">Exercise Price Range 03 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit', window );">Lower Exercise Price Range (in dollars per share)</a></td>
<td class="nump">6<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit', window );">Upper Exercise Price Range (in dollars per share)</a></td>
<td class="nump">$ 9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions', window );">Outstanding Number (in shares) | shares</a></td>
<td class="nump">854<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2', window );">Outstanding Weighted Average Remaining Life (Year)</a></td>
<td class="text">3 years<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1', window );">Outstanding Weighted Average Exercise Price (in dollars per share)</a></td>
<td class="nump">$ 6.90<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions', window );">Exercisable Number (in shares) | shares</a></td>
<td class="nump">848<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1', window );">Exercisable Weighted Average Exercise Price (in dollars per share)</a></td>
<td class="nump">$ 6.89<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=bcrx_ExercisePriceRange04Member', window );">Exercise Price Range 04 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit', window );">Lower Exercise Price Range (in dollars per share)</a></td>
<td class="nump">9<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit', window );">Upper Exercise Price Range (in dollars per share)</a></td>
<td class="nump">$ 12<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions', window );">Outstanding Number (in shares) | shares</a></td>
<td class="nump">2,857<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2', window );">Outstanding Weighted Average Remaining Life (Year)</a></td>
<td class="text">7 years 36 days<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1', window );">Outstanding Weighted Average Exercise Price (in dollars per share)</a></td>
<td class="nump">$ 11<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions', window );">Exercisable Number (in shares) | shares</a></td>
<td class="nump">1,383<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1', window );">Exercisable Weighted Average Exercise Price (in dollars per share)</a></td>
<td class="nump">$ 10.98<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=bcrx_ExercisePriceRange05Member', window );">Exercise Price Range 05 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit', window );">Lower Exercise Price Range (in dollars per share)</a></td>
<td class="nump">12<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit', window );">Upper Exercise Price Range (in dollars per share)</a></td>
<td class="nump">$ 15<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions', window );">Outstanding Number (in shares) | shares</a></td>
<td class="nump">619<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2', window );">Outstanding Weighted Average Remaining Life (Year)</a></td>
<td class="text">6 years 328 days<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1', window );">Outstanding Weighted Average Exercise Price (in dollars per share)</a></td>
<td class="nump">$ 12.29<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions', window );">Exercisable Number (in shares) | shares</a></td>
<td class="nump">308<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1', window );">Exercisable Weighted Average Exercise Price (in dollars per share)</a></td>
<td class="nump">$ 12.39<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=bcrx_ExercisePriceRange06Member', window );">Exercise Price Range 06 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit', window );">Lower Exercise Price Range (in dollars per share)</a></td>
<td class="nump">15<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit', window );">Upper Exercise Price Range (in dollars per share)</a></td>
<td class="nump">$ 18<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions', window );">Outstanding Number (in shares) | shares</a></td>
<td class="nump">95<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2', window );">Outstanding Weighted Average Remaining Life (Year)</a></td>
<td class="text">7 years 182 days<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1', window );">Outstanding Weighted Average Exercise Price (in dollars per share)</a></td>
<td class="nump">$ 15.39<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions', window );">Exercisable Number (in shares) | shares</a></td>
<td class="nump">47<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1', window );">Exercisable Weighted Average Exercise Price (in dollars per share)</a></td>
<td class="nump">$ 15.39<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The floor of a customized range of exercise prices for purposes of disclosing shares potentially issuable under outstanding stock option awards on all stock option plans and other required information pertaining to awards in the customized range.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (g)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares reserved for issuance pertaining to the outstanding exercisable stock options as of the balance sheet date in the customized range of exercise prices for which the market and performance vesting condition has been satisfied.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(iii)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares reserved for issuance pertaining to the outstanding stock options as of the balance sheet date for all option plans in the customized range of exercise prices.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The ceiling of a customized range of exercise prices for purposes of disclosing shares potentially issuable under outstanding stock option awards on all stock option plans and other required information pertaining to awards in the customized range.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (g)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average exercise price as of the balance sheet date for those equity-based payment arrangements exercisable and outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iii)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average price as of the balance sheet date at which grantees could acquire the underlying shares with respect to all outstanding stock options which are in the customized range of exercise prices.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average remaining contractual term of outstanding stock options, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=bcrx_ExercisePriceRange01Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=bcrx_ExercisePriceRange01Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=bcrx_ExercisePriceRange02Member</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=bcrx_ExercisePriceRange03Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=bcrx_ExercisePriceRange04Member</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=bcrx_ExercisePriceRange05Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=bcrx_ExercisePriceRange06Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>64
<FILENAME>R48.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6821996144">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 7 - Share-Based Compensation - Changes in the Number and Weighted-Average Grant-Date Fair Value (Details)<br> shares in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2017 </div>
<div>$ / shares </div>
<div>shares</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares', window );">Non-vested stock option awards (in shares) | shares</a></td>
<td class="nump">5,598<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue', window );">Weighted average grant-date fair value (in dollars per share) | $ / shares</a></td>
<td class="nump">$ 5.40<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Stock option awards granted (in shares) | shares</a></td>
<td class="nump">3,915<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Stock option awards granted (in dollars per share) | $ / shares</a></td>
<td class="nump">$ 3.63<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares', window );">Stock option awards vested (in shares) | shares</a></td>
<td class="num">(1,916)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue', window );">Stock option awards vested (in dollars per share) | $ / shares</a></td>
<td class="nump">$ 4.86<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod', window );">Stock option awards forfeited (in shares) | shares</a></td>
<td class="num">(395)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue', window );">Stock option awards forfeited (in dollars per share) | $ / shares</a></td>
<td class="nump">$ 5.84<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares', window );">Balance December 31, 2017 (in shares) | shares</a></td>
<td class="nump">7,202<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue', window );">Balance December 31, 2017 (in dollars per share) | $ / shares</a></td>
<td class="nump">$ 4.56<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gross number of share options (or share units) granted during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (d)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of non-vested options outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average grant-date fair value of non-vested options forfeited.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average grant-date fair value of non-vested options outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of options vested.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average grant-date fair value of options vested.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<head>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6827332688">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 8 - Income Taxes (Details Textual) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">1 Months Ended</th>
<th class="th" colspan="4">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate', window );">Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">35.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability', window );">Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability</a></td>
<td class="nump">$ 73,474,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance', window );">Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (42,625)<span></span>
</td>
<td class="nump">$ 19,838<span></span>
</td>
<td class="nump">$ 20,339<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued', window );">Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ValuationAllowanceByDeferredTaxAssetAxis=bcrx_DeferredTaxAssetsAndLiabilitiesRevaluatedMember', window );">Deferred Tax Assets and Liabilities Revaluated [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount', window );">Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount</a></td>
<td class="num">(72,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TaxCreditCarryforwardAxis=us-gaap_ResearchMember', window );">Research Tax Credit Carryforward [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TaxCreditCarryforwardAmount', window );">Tax Credit Carryforward, Amount</a></td>
<td class="nump">59,958<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">59,958<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxAuthorityAxis=us-gaap_DomesticCountryMember', window );">Domestic Tax Authority [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwards', window );">Operating Loss Carryforwards</a></td>
<td class="nump">484,705<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">484,705<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxAuthorityAxis=us-gaap_StateAndLocalJurisdictionMember', window );">State and Local Jurisdiction [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwards', window );">Operating Loss Carryforwards</a></td>
<td class="nump">431,470<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">431,470<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsForNewAccountingPronouncementsAxis=us-gaap_AccountingStandardsUpdate201609Member', window );">Accounting Standards Update 2016-09 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards', window );">Deferred Tax Assets, Operating Loss Carryforwards</a></td>
<td class="nump">5,949,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,949,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwardsValuationAllowance', window );">Operating Loss Carryforwards, Valuation Allowance</a></td>
<td class="nump">$ 3,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementScenarioAxis=us-gaap_ScenarioForecastMember', window );">Scenario, Forecast [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate', window );">Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">21.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible operating loss carryforwards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=96869850&amp;loc=d3e28680-109314<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsOperatingLossCarryforwards</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of domestic federal statutory tax rate applicable to pretax income (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of income tax expense (benefit) from continuing operations attributable to an adjustment of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (g)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32639-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to increase (decrease) in the valuation allowance for deferred tax assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=84176650&amp;loc=d3e32123-109318<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLossCarryforwards">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of operating loss carryforward, before tax effects, available to reduce future taxable income under enacted tax laws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32559-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLossCarryforwards</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLossCarryforwardsValuationAllowance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of the valuation allowance pertaining to the deferred tax asset representing potential future taxable deductions from net operating loss carryforwards for which it is more likely than not that a tax benefit will not be realized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32559-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 30<br> -Paragraph 5<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=75018887&amp;loc=d3e30536-109315<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLossCarryforwardsValuationAllowance</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TaxCreditCarryforwardAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of the tax credit carryforward, before tax effects, available to reduce future taxable income under enacted tax laws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32559-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TaxCreditCarryforwardAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount accrued for interest on an underpayment of income taxes and penalties related to a tax position claimed or expected to be claimed in the tax return.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32718-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in the valuation allowance for a specified deferred tax asset.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=84176650&amp;loc=d3e32123-109318<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ValuationAllowanceByDeferredTaxAssetAxis=bcrx_DeferredTaxAssetsAndLiabilitiesRevaluatedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ValuationAllowanceByDeferredTaxAssetAxis=bcrx_DeferredTaxAssetsAndLiabilitiesRevaluatedMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TaxCreditCarryforwardAxis=us-gaap_ResearchMember</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxAuthorityAxis=us-gaap_DomesticCountryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxAuthorityAxis=us-gaap_DomesticCountryMember</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxAuthorityAxis=us-gaap_StateAndLocalJurisdictionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxAuthorityAxis=us-gaap_StateAndLocalJurisdictionMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6828957696">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 8 - Income Taxes - Differences Between the Company's Effective Tax Rate and the Statutory Tax Rate (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate', window );">Income tax benefit at federal statutory rate</a></td>
<td class="num">$ (23,024)<span></span>
</td>
<td class="num">$ (19,300)<span></span>
</td>
<td class="num">$ (15,057)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes', window );">State and local income taxes net of federal tax benefit</a></td>
<td class="num">(1,611)<span></span>
</td>
<td class="num">(1,173)<span></span>
</td>
<td class="num">(819)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationNondeductibleExpense', window );">Permanent items</a></td>
<td class="nump">910<span></span>
</td>
<td class="nump">1,057<span></span>
</td>
<td class="nump">560<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationChangeInEnactedTaxRate', window );">Rate change</a></td>
<td class="nump">71,155<span></span>
</td>
<td class="nump">1,080<span></span>
</td>
<td class="nump">1,012<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_IncomeTaxReconciliationIncomeTaxExpenseBenefitExpirationOfCarryForwards', window );">Expiration of attribute carryforwards</a></td>
<td class="nump">918<span></span>
</td>
<td class="nump">559<span></span>
</td>
<td class="nump">330<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_IncomeTaxRateReconciliationAdoptionOfAccountingStandardsUpdateAmount', window );">Effect of ASU 2016-09</a></td>
<td class="num">(5,949)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationTaxCreditsResearch', window );">Research and development tax credits</a></td>
<td class="num">(1,977)<span></span>
</td>
<td class="num">(4,681)<span></span>
</td>
<td class="num">(10,454)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_EffectiveIncomeTaxRateReconciliationTaxCreditOrphanDrugAmount', window );">Orphan drug credit</a></td>
<td class="nump">564<span></span>
</td>
<td class="nump">1,798<span></span>
</td>
<td class="nump">4,307<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationOtherAdjustments', window );">Other</a></td>
<td class="nump">1,639<span></span>
</td>
<td class="nump">822<span></span>
</td>
<td class="num">(218)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance', window );">Change in valuation allowance</a></td>
<td class="num">(42,625)<span></span>
</td>
<td class="nump">19,838<span></span>
</td>
<td class="nump">20,339<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Income tax expense</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_EffectiveIncomeTaxRateReconciliationTaxCreditOrphanDrugAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents orphan drug credit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_EffectiveIncomeTaxRateReconciliationTaxCreditOrphanDrugAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_IncomeTaxRateReconciliationAdoptionOfAccountingStandardsUpdateAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to the effect from the adoption of an accounting standards update.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_IncomeTaxRateReconciliationAdoptionOfAccountingStandardsUpdateAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_IncomeTaxReconciliationIncomeTaxExpenseBenefitExpirationOfCarryForwards">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Income tax reconciliation income tax expense benefit expiration of carryforwards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_IncomeTaxReconciliationIncomeTaxExpenseBenefitExpirationOfCarryForwards</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a),(b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32639-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to increase (decrease) in the valuation allowance for deferred tax assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=84176650&amp;loc=d3e32123-109318<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationChangeInEnactedTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations, attributable to increase (decrease) in the income tax rates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=84176650&amp;loc=d3e32059-109318<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationChangeInEnactedTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income tax expense or benefit for the period computed by applying the domestic federal statutory tax rates to pretax income from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationNondeductibleExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to nondeductible expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationNondeductibleExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationOtherAdjustments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to other adjustments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationOtherAdjustments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to state and local income tax expense (benefit).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationTaxCreditsResearch">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to research tax credit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationTaxCreditsResearch</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>67
<FILENAME>R51.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6820367280">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 8 - Income Taxes - Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrecognizedTaxBenefits', window );">Balance</a></td>
<td class="nump">$ 4,255<span></span>
</td>
<td class="nump">$ 3,085<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions', window );">Additions to current period tax positions</a></td>
<td class="nump">495<span></span>
</td>
<td class="nump">1,170<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions', window );">Additions to prior period tax positions</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions', window );">Reductions to prior period tax provisions</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrecognizedTaxBenefits', window );">Balance</a></td>
<td class="nump">$ 4,750<span></span>
</td>
<td class="nump">$ 4,255<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnrecognizedTaxBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of unrecognized tax benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=SL6600010-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnrecognizedTaxBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of decrease in unrecognized tax benefits resulting from tax positions taken in prior period tax returns.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15A<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=SL6600010-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase in unrecognized tax benefits resulting from tax positions that have been or will be taken in current period tax return.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15A<br> -Subparagraph (a)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=SL6600010-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase in unrecognized tax benefits resulting from tax positions taken in prior period tax returns.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15A<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=SL6600010-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>68
<FILENAME>R52.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6822461280">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 8 - Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsGrossAbstract', window );"><strong>Deferred tax assets:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsOperatingLossCarryforwardsDomestic', window );">Net federal and state operating losses</a></td>
<td class="nump">$ 117,787<span></span>
</td>
<td class="nump">$ 158,618<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsResearch', window );">Research and development credits</a></td>
<td class="nump">55,208<span></span>
</td>
<td class="nump">53,231<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsDeferredIncome', window );">Deferred revenue</a></td>
<td class="nump">1,854<span></span>
</td>
<td class="nump">3,484<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost', window );">Stock-based compensation</a></td>
<td class="nump">6,424<span></span>
</td>
<td class="nump">8,952<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsOther', window );">Other</a></td>
<td class="nump">2,046<span></span>
</td>
<td class="nump">2,849<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsGross', window );">Total deferred tax assets</a></td>
<td class="nump">183,319<span></span>
</td>
<td class="nump">227,134<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxLiabilitiesAbstract', window );"><strong>Deferred tax liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment', window );">Fixed assets</a></td>
<td class="num">(421)<span></span>
</td>
<td class="num">(674)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxLiabilitiesUnrealizedCurrencyTransactionGains', window );">Foreign currency derivative</a></td>
<td class="num">(478)<span></span>
</td>
<td class="num">(1,415)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredIncomeTaxLiabilities', window );">Total deferred tax liabilities</a></td>
<td class="num">(899)<span></span>
</td>
<td class="num">(2,089)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsValuationAllowance', window );">Valuation allowance</a></td>
<td class="num">(182,420)<span></span>
</td>
<td class="num">(225,045)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsLiabilitiesNet', window );">Net deferred tax assets</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredIncomeTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred tax liability attributable to taxable temporary differences.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(15)(b)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(15)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(26)(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(26)(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredIncomeTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsDeferredIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from deferred income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=96869850&amp;loc=d3e28680-109314<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsDeferredIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsGrossAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsGrossAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsLiabilitiesNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, without jurisdictional netting.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsLiabilitiesNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsOperatingLossCarryforwardsDomestic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible domestic operating loss carryforwards. Excludes state and local operating loss carryforwards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=96869850&amp;loc=d3e28680-109314<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsOperatingLossCarryforwardsDomestic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, before allocation of valuation allowance, of deferred tax asset attributable to deductible temporary differences, classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=96869850&amp;loc=d3e28680-109314<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsResearch">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible research tax credit carryforwards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32559-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsResearch</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from share-based compensation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=96869850&amp;loc=d3e28680-109314<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsValuationAllowance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsValuationAllowance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred tax liability attributable to taxable temporary differences from property, plant, and equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=96869850&amp;loc=d3e28680-109314<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxLiabilitiesUnrealizedCurrencyTransactionGains">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred tax liability attributable to taxable temporary differences from unrealized gains on foreign currency transactions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=96869850&amp;loc=d3e28680-109314<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxLiabilitiesUnrealizedCurrencyTransactionGains</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830248400">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 9 - Employee 401 (k) Plan (Details Textual) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount', window );">Defined Contribution Plan, Employer Discretionary Contribution Amount</a></td>
<td class="nump">$ 664<span></span>
</td>
<td class="nump">$ 504<span></span>
</td>
<td class="nump">$ 366<span></span>
</td>
</tr>
</table>
<div style="display: none;"><table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of discretionary contributions made by an employer to a defined contribution plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table></div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>70
<FILENAME>R54.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6839845936">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 10 - Collaborative and Other Research and Development Contracts (Details Textual) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="5">1 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1">33 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Jun. 16, 2015</div></th>
<th class="th"><div>May 31, 2010</div></th>
<th class="th"><div>Jan. 31, 2007</div></th>
<th class="th"><div>Jun. 30, 2006</div></th>
<th class="th"><div>Feb. 28, 2006</div></th>
<th class="th"><div>Jun. 30, 2000</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Mar. 31, 2015</div></th>
<th class="th"><div>Nov. 11, 2011</div></th>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_CollaborativeAgreementContractValue', window );">Collaborative Agreement Contract Value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ResearchAndDevelopmentArrangementContractToPerformForOthersByTypeAxis=bcrx_UABMember', window );">UAB [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_PeriodOfAgreement', window );">Period of Agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">25 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_RenewablePeriodOfAgreement', window );">Renewable Period of Agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CounterpartyNameAxis=bcrx_CSLLimitedMember', window );">CSL Limited [Member</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLicenseFeesReceived', window );">Proceeds from License Fees Received</a></td>
<td class="nump">$ 33,740<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_MilestonePaymentReceived', window );">Milestone Payment Received</a></td>
<td class="nump">7,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_MilestonePaymentMaximum', window );">Milestone Payment Maximum</a></td>
<td class="nump">$ 5,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_RoyaltyTerm', window );">Royalty Term</a></td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TypeOfArrangementAxis=bcrx_BaseContractMember', window );">Base Contract [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GovernmentContractReceivable', window );">Government Contract Receivable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 16,265<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TypeOfArrangementAxis=bcrx_AdditionalDevelopmentOptionsMember', window );">Additional Development Options [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GovernmentContractReceivable', window );">Government Contract Receivable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">22,855<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TypeOfArrangementAxis=bcrx_ASPRBARDAContractMember', window );">ASPRBARDA Contract [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GovernmentContractReceivable', window );">Government Contract Receivable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 39,120<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_ProceedsFromAwardsForResearchAndDevelopmentContracts', window );">Proceeds from awards for Research and Development Contracts</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 20,574<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TypeOfArrangementAxis=bcrx_GreenCrossCorporationMember', window );">Green Cross Corporation [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLicenseFeesReceived', window );">Proceeds from License Fees Received</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 250<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TypeOfArrangementAxis=bcrx_MundipharmaMember', window );">Mundipharma [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_UpfrontPaymentsReceivableAmount', window );">Upfront Payments Receivable Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 10,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_PotentialMilestonePaymentsReceivable', window );">Potential Milestone Payments Receivable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 15,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TypeOfArrangementAxis=bcrx_MundipharmaMember', window );">Mundipharma [Member] | Upfront Payment [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenue', window );">Deferred Revenue</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TypeOfArrangementAxis=bcrx_AECOMAndIRLMember', window );">AECOM and IRL [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_MilestonePaymentMaximum', window );">Milestone Payment Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_MilestonePaymentMinimum', window );">Milestone Payment Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_AnnualLicenseFeeMinimum', window );">Annual License Fee Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">150<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_AnnualLicenseFeeMaximum', window );">Annual License Fee Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_AdvanceNoticePeriodForTerminationOfAgreement', window );">Advance Notice Period for Termination of Agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">60 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_StockIssuedDuringPeriodValueForModificationOfLicenseAgreement', window );">Stock Issued During Period, Value, for Modification of License Agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,911<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_PaymentsForModificationOfLicenseAgreement', window );">Payments for Modification of License Agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 90<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_AdvanceNoticePeriodForTerminationOfAgreement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents advance notice period for termination of agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_AdvanceNoticePeriodForTerminationOfAgreement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_AnnualLicenseFeeMaximum">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents annual maximum license fee.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_AnnualLicenseFeeMaximum</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_AnnualLicenseFeeMinimum">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represent minimum annual license fee.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_AnnualLicenseFeeMinimum</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_CollaborativeAgreementContractValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents collaborative agreement contract value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_CollaborativeAgreementContractValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_MilestonePaymentMaximum">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents milestone payment maximum.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_MilestonePaymentMaximum</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_MilestonePaymentMinimum">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents milestone payment minimum.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_MilestonePaymentMinimum</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_MilestonePaymentReceived">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of milestone payment received.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_MilestonePaymentReceived</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_PaymentsForModificationOfLicenseAgreement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents payments for modifications of license agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_PaymentsForModificationOfLicenseAgreement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_PeriodOfAgreement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents period of agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_PeriodOfAgreement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_PotentialMilestonePaymentsReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents potential milestone payments receivable based on possibility of future event payments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_PotentialMilestonePaymentsReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_ProceedsFromAwardsForResearchAndDevelopmentContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents proceeds from awards for research and development contracts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_ProceedsFromAwardsForResearchAndDevelopmentContracts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_RenewablePeriodOfAgreement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents renewable period of agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_RenewablePeriodOfAgreement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_RoyaltyTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Period of time between the date of the Agreement and its expiration.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_RoyaltyTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_StockIssuedDuringPeriodValueForModificationOfLicenseAgreement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents stock issued during period value for modification of license agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_StockIssuedDuringPeriodValueForModificationOfLicenseAgreement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_UpfrontPaymentsReceivableAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents upfront payments receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_UpfrontPaymentsReceivableAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred revenue as of balance sheet date. Deferred revenue represents collections of cash or other assets related to a revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 13.A.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=65893310&amp;loc=d3e214044-122780<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 13.A.4(a).Q1)<br> -URI http://asc.fasb.org/extlink&amp;oid=65893310&amp;loc=d3e214044-122780<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GovernmentContractReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of receivables that are derived from government contracts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 912<br> -SubTopic 310<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=68054760&amp;loc=d3e55295-109406<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GovernmentContractReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromLicenseFeesReceived">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cash received from licensees for license fees during the current period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromLicenseFeesReceived</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ResearchAndDevelopmentArrangementContractToPerformForOthersByTypeAxis=bcrx_UABMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ResearchAndDevelopmentArrangementContractToPerformForOthersByTypeAxis=bcrx_UABMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CounterpartyNameAxis=bcrx_CSLLimitedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CounterpartyNameAxis=bcrx_CSLLimitedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TypeOfArrangementAxis=bcrx_BaseContractMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TypeOfArrangementAxis=bcrx_BaseContractMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TypeOfArrangementAxis=bcrx_AdditionalDevelopmentOptionsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TypeOfArrangementAxis=bcrx_AdditionalDevelopmentOptionsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TypeOfArrangementAxis=bcrx_ASPRBARDAContractMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TypeOfArrangementAxis=bcrx_ASPRBARDAContractMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TypeOfArrangementAxis=bcrx_GreenCrossCorporationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TypeOfArrangementAxis=bcrx_GreenCrossCorporationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TypeOfArrangementAxis=bcrx_MundipharmaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TypeOfArrangementAxis=bcrx_MundipharmaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRevenueArrangementTypeAxis=bcrx_UpfrontPaymentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredRevenueArrangementTypeAxis=bcrx_UpfrontPaymentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TypeOfArrangementAxis=bcrx_AECOMAndIRLMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TypeOfArrangementAxis=bcrx_AECOMAndIRLMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>71
<FILENAME>R55.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6829306272">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 11 - Quarterly Financial Information (Unaudited) - Schedule of Quarterly Information (Details) - USD ($)<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th" colspan="8">3 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Sep. 30, 2017</div></th>
<th class="th"><div>Jun. 30, 2017</div></th>
<th class="th"><div>Mar. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Sep. 30, 2016</div></th>
<th class="th"><div>Jun. 30, 2016</div></th>
<th class="th"><div>Mar. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueNet', window );">Revenues</a></td>
<td class="nump">$ 3,890<span></span>
</td>
<td class="nump">$ 8,760<span></span>
</td>
<td class="nump">$ 3,099<span></span>
</td>
<td class="nump">$ 9,437<span></span>
</td>
<td class="nump">$ 8,983<span></span>
</td>
<td class="nump">$ 7,763<span></span>
</td>
<td class="nump">$ 4,787<span></span>
</td>
<td class="nump">$ 4,820<span></span>
</td>
<td class="nump">$ 25,186<span></span>
</td>
<td class="nump">$ 26,353<span></span>
</td>
<td class="nump">$ 48,257<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net Loss</a></td>
<td class="num">$ (19,543)<span></span>
</td>
<td class="num">$ (15,134)<span></span>
</td>
<td class="num">$ (16,886)<span></span>
</td>
<td class="num">$ (14,219)<span></span>
</td>
<td class="num">$ (4,503)<span></span>
</td>
<td class="num">$ (11,528)<span></span>
</td>
<td class="num">$ (16,281)<span></span>
</td>
<td class="num">$ (22,832)<span></span>
</td>
<td class="num">$ (65,782)<span></span>
</td>
<td class="num">$ (55,144)<span></span>
</td>
<td class="num">$ (43,019)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasicAndDiluted', window );">Basic and diluted net loss per share (in dollars per share)</a></td>
<td class="num">$ (0.20)<span></span>
</td>
<td class="num">$ (0.18)<span></span>
</td>
<td class="num">$ (0.21)<span></span>
</td>
<td class="num">$ (0.19)<span></span>
</td>
<td class="num">$ (0.06)<span></span>
</td>
<td class="num">$ (0.16)<span></span>
</td>
<td class="num">$ (0.22)<span></span>
</td>
<td class="num">$ (0.31)<span></span>
</td>
<td class="num">$ (0.78)<span></span>
</td>
<td class="num">$ (0.75)<span></span>
</td>
<td class="num">$ (0.59)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasicAndDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements.  Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period.  Diluted earnings per share includes the amount of net income or 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.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasicAndDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(18))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SalesRevenueNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SalesRevenueNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>72
<FILENAME>R56.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6668499408">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 13 Subsequent Even (Details Textual) - Subsequent Event [Member] - Merger Agreement [Member]<br></strong></div></th>
<th class="th"><div>Jan. 21, 2018</div></th>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_IderaExchangeRatio', window );">Idera Exchange Ratio</a></td>
<td class="nump">0.2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bcrx_BioCrystExchangeRatio', window );">BioCryst Exchange Ratio</a></td>
<td class="nump">0.5<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember', window );">Baker Brother [Member] | BioCryst [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners', window );">Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners</a></td>
<td class="nump">14.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember', window );">Baker Brother [Member] | Idera [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners', window );">Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners</a></td>
<td class="nump">9.00%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_BioCrystExchangeRatio">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Ratio applied to the conversion of BioCryst common stock into common stock of Holdco.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_BioCrystExchangeRatio</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bcrx_IderaExchangeRatio">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Ratio applied to the conversion of Idera common stock into common stock of Holdco.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bcrx_IderaExchangeRatio</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bcrx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The equity interest of noncontrolling shareholders, partners or other equity holders in consolidated entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=bcrx_MergerAgreementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=bcrx_MergerAgreementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
