Note 12 - Subsequent Event

6 Months Ended

Jun. 30, 2018

Notes to Financial Statements

Subsequent Events [Text Block]

Note

12.

Subsequent Event

On

July 30, 2018,

we received FDA approval of our NDA for AZEDRA, which is the

first

and only approved therapy in the U.S. for the treatment of adult and pediatric patients

12

years and older with iobenguane scan positive, unresectable, locally advanced or metastatic pheochromocytoma or paraganglioma who require systemic anticancer therapy. We currently expect sales of AZEDRA to commence

no

sooner than the

fourth

quarter of this year.

We evaluated subsequent events through the filing of this Quarterly Report on Form

10

-Q and determined that there have been

no

events that have occurred that would require adjustments to our amounts or disclosures in the consolidated financial statements except for the FDA approval of AZEDRA, as described above. This approval would increase the overall probability of success of AZEDRA from the

81%

used in the

June 30, 2018

valuation to

90%,

which still reflects remaining commercial risk. This change in estimate would increase the value of the contingent consideration liability to

$19.8

million, or by

$0.9

million.