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Document And Entity Information - shares	6 Months Ended
Document And Entity Information - shares	Dec. 31, 2014	Feb. 05, 2015
Entity Registrant Name	Biota Pharmaceuticals, Inc.
Entity Central Index Key	0000072444
Current Fiscal Year End Date	--06-30
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		35,100,961
Document Type	10-Q
Document Period End Date	Dec. 31, 2014
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Millions	Dec. 31, 2014	Jun. 30, 2014
Current assets
Cash and cash equivalents	$ 63.7	$ 81.7
Other accounts receivable	7.0	0.9
Short-term investments	7.1
Contract receivable	7.4	17.8
Prepaid and other current assets	1.0	0.7
Total current assets	86.2	101.1
Non-current assets:
Long-term investments	5.8	10.0
Deferred tax asset	0.3	0.9
Property and equipment, net	1.1	2.0
Total non-current assets	7.2	12.9
Total assets	93.4	114.0
Current liabilities:
Contract payable and accrued expenses	4.4	18.6
Accounts payable	1.7	2.8
Accrued expenses	3.7	3.4
Accrued severance obligations	0.8	1.2
Deferred tax liability	0.3	0.9
Total current liabilities	10.9	26.9
Non-current liabilities:
Other liabilities, net of current portion	0.1	0.2
Total liabilities	11.0	27.1
Stockholders’ equity:
Common stock, $0.10 par value: 200,000,000 shares authorized; 35,100,961 and 35,100,961 shares issued and outstanding at December 31, 2014 and June 30, 2014, respectively	3.5	3.5
Additional paid-in capital	147.4	146.4
Accumulated other comprehensive income	21.7	26.8
Accumulated deficit	(90.2)	(89.8)
Total stockholders’ equity	82.4	86.9
Total liabilities and stockholders’ equity	$ 93.4	$ 114.0

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Dec. 31, 2014	Jun. 30, 2014
Common stock, Par Value (in dollars per share)	$ 0.10	$ 0.10
Common Stock, Shares Authorized (in shares)	200,000,000	200,000,000
Common Stock, Shares Issued (in shares)	35,100,961	35,100,961
Common Stock, Shares Outstanding (in shares)	35,100,961	35,100,961

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Revenue:
Royalty revenue and milestones	$ 6.5	$ 6.0	$ 6.5	$ 6.0
Revenue from services	7.4	12.4	8.1	24.6
Other		0.1		0.2
Total revenue	13.9	18.5	14.6	30.8
Operating expense:
Cost of revenue	1.6	11.4	3.3	22.2
Research and development	4.8	4.2	9.7	7.1
General and administrative	2.6	3.1	5.0	5.5
Foreign exchange (gain) loss	(1.5)	(0.1)	(2.8)	0.2
Total operating expense	7.5	18.6	15.2	35.0
Income (loss) from operations	6.4	(0.1)	(0.6)	(4.2)
Non-operating income:
Interest income	0.1		0.2	0.1
Total non-operating income	0.1		0.2	0.1
Income (loss) before tax	6.5	(0.1)	(0.4)	(4.1)
Income tax benefit				0.1
Net income (loss)	$ 6.5	$ (0.1)	$ (0.4)	$ (4.0)
Basic net income (loss) per share (in dollars per share)	$ 0.19	$ 0	$ (0.01)	$ (0.14)
Diluted net income (loss) per share (in dollars per share)	$ 0.19	$ 0	$ (0.01)	$ (0.14)
Basic weighted-average shares outstanding (in shares)	35,100,961	28,291,665	35,100,961	28,286,404
Diluted weighted-average shares outstanding (in shares)	35,103,086	28,291,665	35,100,961	28,286,404
Comprehensive (loss) income:
Net income (loss)	$ 6.5	$ (0.1)	$ (0.4)	$ (4.0)
Exchange differences on translation of foreign operations	(2.5)	(1.0)	(5.0)	(0.7)
Change in fair value of available for sale investments	(0.1)		(0.1)
Total comprehensive income (loss)	$ 3.9	$ (1.1)	$ (5.5)	$ (4.7)

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - 6 months ended Dec. 31, 2014 - USD ($) $ in Millions	Total	Accumulated Translation Adjustment [Member]	Additional Paid-in Capital [Member]	Common Stock [Member]	Retained Earnings [Member]
Balances at July 1, 2014 (in shares) at Jun. 30, 2014	35,100,961			35,100,961
Balances at July 1, 2014 at Jun. 30, 2014	$ 86.9	$ 26.8	$ 146.4	$ 3.5	$ (89.8)
Exchange differences on translation of foreign operations	(5.0)	(5.0)
Change in fair value of available for sale investments	(0.1)	(0.1)
Net income (loss)	(0.4)				(0.4)
Share-based compensation	$ 1.0		1.0
Balances at December 31, 2014 (in shares) at Dec. 31, 2014	35,100,961			35,100,961
Balances at December 31, 2014 at Dec. 31, 2014	$ 82.4	$ 21.7	$ 147.4	$ 3.5	$ (90.2)

- Definition

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

+ References + Details

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net income (loss)	$ (0.4)	$ (4.0)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	0.8	1.0
Share-based compensation	1.0	0.9
Change in operating assets and liabilities:
Accounts receivables	2.0	(16.7)
Prepaid expenses and other current assets	(0.3)	1.2
Deferred revenue		(0.2)
Accounts payable and accrued expenses	(12.6)	4.2
Accrued severance obligations	(1.1)	(1.0)
Net cash used in operating activities	(10.6)	(14.6)
Cash flows from investing activities:
Purchases of short and long-term investments	(9.9)
Call redemption of long-term investments	6.9
Purchases of property and equipment		(0.1)
Net cash used in investing activities	(3.0)	(0.1)
Decrease in cash and cash equivalents	(13.6)	(14.7)
Cash and cash equivalents at beginning of period	81.7	66.8
Effects of exchange rate movements on cash and cash equivalents	(4.4)	(0.7)
Cash and cash equivalents at end of period	$ 63.7	$ 51.4

Note 1 - Company Overview

6 Months Ended

Dec. 31, 2014

Notes to Financial Statements

Nature of Operations [Text Block]

(1)	Company Overview

Biota Pharmaceuticals, Inc., together with its wholly owned subsidiaries (“Biota”, or the “Company”) is a biopharmaceutical company focused on the discovery and development of products to prevent and treat serious and potentially life-threatening infectious diseases. The Company has been incorporated in the state of Delaware since 1969 and its corporate headquarters are located in Alpharetta, Georgia.

The Company is currently focused on developing oral, small molecule antiviral compounds to treat a number of respiratory-related infections. The Company recently initiated a Phase 2b clinical trial (named SPIRITUS), a randomized, double-blind, placebo-controlled dose-ranging for BTA-798, also known as vapendavir, in moderate and severe asthmatic patients at risk of loss of asthma control and exacerbations due to presumptive human rhinovirus (“HRV”) infection. The Company has successfully completed two other Phase 2 trials of vapendavir to-date and recently completed additional Phase 1 bioavailability and drug-drug interaction study of vapendavir in healthy volunteers. In addition, the Company is developing laninamivir octanoate, a long-acting neuraminidase inhibitor (“NI”) for the treatment of influenza A and B. On August 1, 2014, the Company reported top-line safety and efficacy results from a randomized, double-blind, placebo-controlled, parallel-arm Phase 2 clinical trial (named IGLOO), comparing the safety and efficacy of a 40 mg and an 80 mg dose of laninamivir octanoate to placebo. As compared to placebo, neither the 40 mg nor the 80 mg cohort achieved a statistically significant reduction in the median time to alleviation of all influenza associated symptoms, the primary endpoint, as measured by the Flu-iiQ patient-recorded outcome questionnaire. Certain important secondary endpoints, including quantitative viral shedding, and secondary bacterial infections, as well as the time to alleviation of systemic symptoms, did achieve statistically significant results for laninamivir octanoate treated cohorts compared to placebo.

In addition to these Phase 2 clinical-stage development programs, the Company is also developing orally bioavailable F and non-F protein compounds for the treatment of respiratory syncytial virus (“RSV”) infections in children, the elderly and immune-compromised patients. The Company is currently conducting investigational new drug application (“IND”) enabling studies with BTA-C585, the lead compound from its F-protein inhibitor program.

In March 2011, the Company was awarded a contract from the U.S. Office of Biomedical Advanced Research and Development Authority (“BARDA”) designed to provide up to $231 million in support of the development of and submission for a New Drug Application (“NDA”) of laninamivir octanoate for the treatment of influenza A and B infections in the United States. On May 7, 2014, the U.S. Department of Health and Human Services (“HHS”) office of the Assistant Secretary for Preparedness and Response (“ASPR”) and BARDA notified the Company of its decision to terminate the contract for the convenience of the U.S. Government. The Company continues to work with BARDA to close out this contract, which involves finalizing invoices and billings, determining the nature and extent of any equitable adjustments, and negotiating a final termination settlement.

Although several of the Company’s influenza product candidates have been successfully developed and commercialized to date by other larger pharmaceutical companies under collaboration, license or commercialization agreements, the Company has not independently developed or received regulatory approval for any product candidate, and the Company does not currently have any sales, marketing or commercial capabilities. Therefore, it is possible that the Company may not successfully derive any significant product revenues from any product candidates that it is developing now, or may develop in the future. The Company expects to incur losses for the foreseeable future as it intends to support the clinical and preclinical development of its product candidates. Also, due to the termination of its contract with BARDA, the Company anticipates that its revenue from service and cost of revenue will decline substantially in fiscal 2015 as compared to recent historical levels and will not recur in fiscal 2016.

Biota Pharmaceuticals, Inc.

Notes to Unaudited Condensed Consolidated Financial Statements

(for the quarterly period ended December 31, 2014)

The Company plans to continue to finance its operations with (i) its existing cash, cash equivalents and investments, (ii) proceeds from existing or potential future royalty-bearing licenses or collaborative research and development arrangements, (iii) future equity and/or debt financings, or (iv) other financing arrangements. The Company’s ability to continue to support its operations is dependent, in the near-term, upon managing its cash resources, continuing to receive royalty revenue under existing licenses, receiving final reimbursements from BARDA related to the close-out of its terminated contract, entering into future collaboration, license or commercialization agreements, successfully developing its product candidates, executing future financings and ultimately, upon obtaining approval of its products for sale and achieving positive cash flows from operations on a consistent basis. There can be no assurance that additional capital or funds will be available on terms acceptable to the Company, if at all, or that the Company will be able to enter into collaboration, license or commercialization agreements in the future, or that the Company will ever generate significant product revenue and become operationally profitable on a consistent basis.

Note 2 - Basis of Presentation

6 Months Ended

Dec. 31, 2014

Notes to Financial Statements

Basis of Presentation and Significant Accounting Policies [Text Block]

(2)	Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. All material adjustments considered necessary for a fair presentation have been included. Certain information and footnotes disclosure normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to instructions, rules and regulations prescribed by the U.S. Securities and Exchange Commission (“SEC”). Except as disclosed herein, there has been no material change in the information disclosed in the notes to the consolidated financial statements included in the Company’s Annual Report on Form 10-K that was filed with the SEC on September 30, 2014.

The unaudited interim consolidated financial statements include the accounts of the Company and all of its wholly owned subsidiaries. All inter-company transactions and balances are eliminated in consolidation.

Operating results for the six months ended December 31, 2014 are not necessarily indicative of those in future quarters or

the annual results that may be expected for the Company’s fiscal year ending June 30, 2015. For a more complete discussion of the Company’s significant accounting policies and other information, this report should be read in conjunction with the consolidated financial statements for the fiscal year ended June 30, 2014 included in the Company’s Annual Report on Form 10-K that was filed with the SEC on September 30, 2014.

The Company’s significant accounting policies have not changed since June 30, 2014, except as outlined below:

Recent Accounting Standards

In August 2014, the Financial Accounting Standards Board issued authoritative accounting guidance related to management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. Management’s evaluation should be based on relevant conditions and events that are known and reasonably knowable at the date that the financial statements are issued. In doing so, the amendments should reduce diversity in the timing and content of footnote disclosures. This guidance is effective for public and non-public entities for annual periods ending after December 15, 2016, and interim periods thereafter. Early adoption is permitted. The Company is currently assessing the expected impact, if any, that this Accounting Standards Update will have on the consolidated financial statements.

In May 2014, the Financial Accounting Standards Board issued authoritative accounting guidance related to revenue from contracts with customers. This guidance is a comprehensive new revenue recognition model that requires a company to recognize revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. This guidance is effective for annual reporting periods beginning after December 15, 2016 and early adoption is not permitted. The Company will adopt this guidance on July 1, 2017. Companies may use either a full retrospective or a modified retrospective approach to adopt this guidance. The Company is evaluating which transition approach to use and its impact, if any, on its consolidated financial statements.

Note 3 - Fair Value Measurements

6 Months Ended

Dec. 31, 2014

Notes to Financial Statements

Fair Value Disclosures [Text Block]

(3)	Fair Value Measurements

A fair value hierarchy has been established which requires the Company to maximize the use of observable inputs, where available, and minimize the use of unobservable inputs when measuring fair value. The fair value hierarchy describes three levels of inputs that may be used to measure fair value:

Level 1

Quoted prices in active markets for identical assets or liabilities.

Level 2

Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3

Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

The following table sets forth the financial assets and liabilities that were measured at fair value on a recurring basis at December 31, 2014 and June 30, 2014, by level within the fair value hierarchy. The assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.

The Company’s long-term and short-term investments have been classified as Level 2, which have been initially valued at the transaction price and subsequently revalued, at the end of each reporting period, utilizing a third party pricing service. The pricing service utilizes industry standard valuation models and observable market inputs to determine value that include surveying the bond dealer community, obtaining benchmark quotes, incorporating relevant trade data, and updating spreads daily. There have been no transfers of assets or liabilities between the fair value measurement classifications during the periods presented.

			Quoted Prices in
			Active Markets for		Significant Other		Significant
			Identical Assets		Observable Inputs		Unobservable
	Total		(Level 1)		(Level 2)		Inputs (Level 3)
December 31, 2014
Cash equivalents	$	26.9	$	26.9	$	—	$	—
Short-term investments available-for-sale		7.1		—		7.1		—
Long-term investments available-for-sale		5.8		—		5.8		—

Total	$	39.8	$	26.9	$	12.9	$	—

			Quoted Prices in
			Active Markets for		Significant Other		Significant
			Identical Assets		Observable Inputs		Unobservable
	Total		(Level 1)		(Level 2)		Inputs (Level 3)
June 30, 2014
Cash equivalents	$	36.9	$	36.9	$	—	$	—
Long-term investments available-for-sale		10.0		—		10.0		—

Total	$	46.9	$	36.9	$	10.0		—

Biota Pharmaceuticals, Inc.

Notes to Unaudited Condensed Consolidated Financial Statements

(for the quarterly period ended December 31, 2014)

Cash equivalents consist primarily of money market funds. Short-term investments consist of corporate securities and have a maturity less than 365 days from the date of acquisition. Long-term investments consist of U.S. agency securities, U.S. Treasury securities, and corporate securities classified as available-for-sale and have maturities greater than 365 days from the date of acquisition.

The Company has had no realized gains or losses from the sale of investments for the six months ended December 31, 2014. The following table shows the unrealized gains and losses and fair values for those investments as of December 31, 2014 and June 30, 2014, aggregated by major security type:

			Unrealized		Unrealized
	At Cost		Gains		(Losses)			At Fair Value
December 31, 2014
Money market funds	$	26.9	$	—	$	—		$	26.9
Debt securities of U.S. government agencies		2.5		—		—			2.5
U.S. Treasury securities		7.6		—		(0.1	)		7.5
Corporate Securities		2.9		—		—			2.9

Total	$	39.9	$	—	$	(0.1	)	$	39.8

			Unrealized		Unrealized
	At Cost		Gains		(Losses)		At Fair Value
June 30, 2014
Money market funds	$	36.9	$	—	$	—	$	36.9
Debt securities of U.S. government agencies		4.9		—		—		4.9
U.S. Treasury securities		5.1		—		—		5.1

Total	$	46.9	$	—	$	—	$	46.9

As of December 31, 2014 and June 30, 2014, the Company had investments in an unrealized loss position. The Company has determined that the unrealized losses of less than $0.1 million on these investments at December 31, 2014 and June 30, 2014 are temporary in nature and expects the securities to mature at their stated maturity principal.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Note 4 - Accrued Expenses

6 Months Ended

Dec. 31, 2014

Notes to Financial Statements

Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]

(4)	Accrued Expenses

Accrued expenses consist of the following (in millions):

	December 31, 2014		June 30, 201 4

Professional Fees	$	0.8	$	1.0
Salary and related costs		1.2		0.4
Research and development materials and services		1.3		0.8
Other accrued expenses		0.4		1.2
Total accrued expenses and other liabilities	$	3.7	$	3.4

Note 5 - Net Income (Loss) Per Share

6 Months Ended

Dec. 31, 2014

Notes to Financial Statements

Earnings Per Share [Text Block]

(5)	Net Income (Loss) per share

Basic and diluted net income (

loss)

per share has been computed based on net income (

loss)

and the weighted-average number of common shares outstanding during the applicable period. For diluted net loss per share, common stock equivalents (shares of common stock issuable upon the exercise of stock options and unvested restricted stock units) are excluded from the calculation as their inclusion would be anti-dilutive. The Company has excluded all anti-dilutive share-based awards to purchase common stock in periods indicating a loss, as their effect is anti-dilutive.

The following table sets forth the computation of historical basic and diluted net income (loss) per share.

	Three Months Ended December 31 ,
	2014		2013

Net income (loss) (in millions)	$	6.5	$	(0.1	)
Weighted-average shares outstanding		35,100,961		28,291,665
Dilutive effect of restricted stock and stock options		2,125		-
Shares used to compute diluted earnings per share		35,103,086		28,291,665
Basic net income (loss) per share	$	0.19	$	(0.00	)
Diluted net income (loss) per share	$	0.19	$	(0.00	)
Number of anti-dilutive share-based awards excluded from computation		3,178,424		2,538,263

	Six Months Ended December 31 ,
	2014			2013

Net loss (in millions)	$	(0.4	)	$	(4.0	)
Weighted-average shares outstanding		35,100,961			28,286,404
Dilutive effect of restricted stock and stock options		-			-
Shares used to compute diluted earnings per share		35,100,961			28,286,404
Basic net loss per share	$	(0.01	)	$	(0.14	)
Diluted net loss per share	$	(0.01	)	$	(0.14	)
Number of anti-dilutive share-based awards excluded from computation		3,293,424			2,538,263

Note 6 - Licenses, Royalty Collaborative and Contractual Arrangements

6 Months Ended

Dec. 31, 2014

Notes to Financial Statements

Collaborative Arrangement Disclosure [Text Block]

(6)	Licenses, Royalty Collaborative and Contractual Arrangements

Royalty agreements

The Company entered into a worldwide

royalty-bearing research and license agreement with GlaxoSmithKline (“GSK”) in 1990 for the development and commercialization of zanamivir, a neuraminidase inhibitor (“NI”) marketed by GSK as Relenza® to treat influenza. Under the terms of the agreement, the Company licensed zanamivir to GSK on an exclusive basis and is entitled to receive royalty payments of 7% of GSK's annual net sales of Relenza^® in the U.S., Europe, Japan and certain other countries as well as 10% of GSK's annual net sales of Relenza® in Australia, New Zealand, South Africa and Indonesia. The Relenza^® patent portfolio is scheduled to expire as follows: December 2014 in the U.S., May 2015 in Australia, 2016 in the major countries of the European Union (“EU”), and July 2019 in Japan. On August 25, 2014, GSK filed an appeal to the United States Patent Trial Appeal Board in relation to U.S. Patent Application No. 08/737,141. GSK has verified that the Company will continue to receive royalties on the net sales of Relenza^® in the United States beyond December 2014 to the extent that this patent application remains pending or is ultimately issued. The Company is unable at this time to determine the duration or the outcome of this appeal process, or how long this patent application will remain pending.

Biota Pharmaceuticals, Inc.

Notes to Unaudited Condensed Consolidated Financial Statements

(for the quarterly period ended December 31, 2014)

The Company also generates royalty revenue from the sale of laninamivir octanoate, which Daiichi Sankyo markets as Inavir^® in Japan pursuant to a collaboration and license agreement that the Company entered into with Daiichi Sankyo in 2009. In September 2010, laninamivir octanoate (Inavir^®) was approved for sale by the Japanese Ministry of Health and Welfare for the treatment of influenza in adults and children. In December 2013, Inavir^® was also approved in Japan for the prevention of influenza in adults and children. Under the agreement, the Company currently receives a 4% royalty on net sales of Inavir^® in Japan and is eligible to earn additional sales milestone payments. Under the collaboration and license agreement, the Company and Daiichi Sankyo have cross-licensed the world-wide rights to develop and commercialize the related intellectual property, and have agreed to share equally in any royalties, license fees, or milestone or other payments received from any third party licenses outside of Japan. Patents on laninamivir octanoate in Japan generally expire in 2024.

Collaborative and contract arrangements

In March 2011, the Company’s wholly owned subsidiary, Biota Scientific Management Pty Ltd., was awarded a contract by BARDA for the late-stage development of laninamivir octanoate on a cost-plus-fixed-fee basis, the total of which was not to exceed $231.2 million. BARDA is part of the U.S. Office of the ASPR within the HHS. The BARDA contract was designed to fund and provide the Company with all technical and clinical data and U.S. based manufacturing to support the filing of a U.S. new drug application (“NDA”) with the FDA for laninamivir octanoate. The performance period of the BARDA contract commenced on March 31, 2011, and was intended to continue for five years. On May 7, 2014 HHS/ASPR/BARDA notified the Company of its decision to terminate the contract for the development of laninamivir octanoate for the convenience of the U.S. Government. The Company has been and continues to work with ASPR/BARDA to close out this contract, which involves finalizing separate invoices and billings for those activities undertaken prior to and after the termination date, determining the nature and extent of any equitable adjustments for costs incurred after the termination date, and negotiating a final termination settlement. As of December 31, 2014, the Company had $7.4 million in accounts receivable due from BARDA, of which $5.4 million was collected in early January 2015.

The Company was considered an active participant in the BARDA contract, with exposure to significant risks and rewards of commercialization relating to the development of laninamivir octanoate. Therefore, revenues from and costs associated with the close out of the contract are recorded and recognized on a gross basis in the consolidated statement of operations.

The following tables summarize the key components of the Company’s revenues (in millions):

	Three Months Ended December 31,
	2014		2013
	(in millions)
Royalty revenue– Relenza ^®	$	4.2	$	5.4
– Inavir ^®		2.3		0.6
Revenue from services		7.4		12.4
Revenue under other contracts, grants and collaborations		-		0.1
Total revenue	$	13.9	$	18.5

	Six Months Ended December 31,
	2014		2013
	(in millions)
Royalty revenue– Relenza ^®	$	4.2	$	5.4
– Inavir ^®		2.3		0.6
Revenue from services		8.1		24.6
Revenue under other contracts, grants and collaborations		-		0.2
Total revenue	$	14.6	$	30.8

Note 7 - Share-based Compensation

6 Months Ended

Dec. 31, 2014

Notes to Financial Statements

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

For the three months ended December 31, 2014 and 2013, the Company recorded share-based compensation expense related to grants from equity incentive plans of $0.6 million and $0.5 million, respectively. For the six months ended December 31, 2014 and 2013, the Company recorded share-based compensation expense related to grants from equity incentive plans of $1.0 million and $0.9 million, respectively. No income tax benefit was recognized in the statements of operations and no share-based compensation expense was capitalized as part of any assets for the six months ended December 31, 2014 and 2013.

Stock Options

The fair value of each stock option award was estimated at its respective date of grant using the Black-Scholes method with the following assumptions:

	Three Months Ended						Six Months Ended
	December 31,						December 31,
	2014			2013			2014			2013
Weighted-average risk-free interest rate		1.70	%		1.40	%		1.70	%		1.49	%
Dividend yield		—			—			—			—
Expected weighted-average volatility		.82			.78			.82			.78
Expected weighted-average life of options (years)		6.0			6.0			6.0			6.0
Weighted-average fair value of options granted	$	1.68		$	2.78		$	1.67		$	2.75

The risk-free interest rate is based on the expected life of the option and the corresponding U.S. Treasury bond, which in most cases is the U.S. five year Treasury bond. The expected term of stock options granted is derived from actual and expected option behavior and represents the period of time that options granted are expected to be outstanding. The Company uses historical data to estimate option exercise patterns and future employee terminations to determine expected life and forfeitures. Expected volatility is based on the historical volatility of the Company’s publicly- traded common stock.

Biota Pharmaceuticals, Inc.

Notes to Unaudited Condensed Consolidated Financial Statements

(for the quarterly period ended December 31, 2014)

A summary of the Company’s outstanding stock option activity for the six months ended December 31, 2014 is as follows:

	Number of Stock			Weighted Average Exercise Price		Weighted-Average Remaining Contractual		Aggregate Intrinsic
	Options			Per Option		Term		Value ($000)
						(In Years)
Balance at June 30, 2014		2,463,369		$	9.09
Granted		1,275,000			2.44
Exercised		—			—
Forfeited or expired		(444,945	)		9.73
Balance at December 31, 2014		3,293,424		$	6.43		8.18	$	-

In August 2014, the Company's Board of Directors made a determination that a performance-based milestone was not achieved and as a result, performance-based stock options previously issued during fiscal 2014 would not vest and were cancelled.

The total intrinsic value of stock options exercised during the three month period ended December 31, 2014 was zero, and no cash proceeds were received by the Company. Further, no actual tax benefits were realized, as the Company currently records a full valuation allowance for all tax benefits due to uncertainties with respect to its ability to generate sufficient taxable income in the future.

The following tables summarize information relating to outstanding and exercisable options as of December 31, 2014:

	December 31, 2014
	Outstanding
	Weighted Average						Exercisable
	Number of		Remaining		Weighted Average		Number of		Weighted Average
Exercise Prices	Stock Options		Contractual Life		Exercise Price		Stock Options		Exercise Price
			(In Years)
$ 2.20 — $2.30		115,000		9.69	$	2.29		—	$	—
$ 2.45		1,035,000		9.75		2.45		—		—
$ 2.47 — $4.05		605,000		9.07		3.18		86,250		3.96
$ 4.07 — $75.81		1,538,424		6.67		10.69		1,046,645		13.66
		3,293,424		8.18	$	6.43		1,132,895		12.92

Restricted and Market Stock Units (MSUs).

A summary of the Company’s outstanding restricted stock and market stock unit (MSU) activity for the six months ended December 31, 2014 is as follows:

	Shares			Weighted Average Grant Date Fair Value
Balance at June 30, 2014		261,447		$	3.98
Awarded		40,000			2.45
Released		—			—
Forfeited		(38,152	)		4.02
Balance at December 31, 2014		263,295		$	3.74

Biota Pharmaceuticals, Inc.

Notes to Unaudited Condensed Consolidated Financial Statements

(for the quarterly period ended December 31, 2014)

In December 2013, the Company awarded 108,183 MSUs to employees that may vest on January 1, 2017. The vesting of these awards is subject to the respective employee’s continued employment through this settlement period. Further, the number of MSUs granted represents the target number of units that are eligible to be earned based on the attainment of certain market-based criteria involving the Company’s stock price. The number of MSUs actually earned, if any, is calculated upon the vesting of the award. Participants may ultimately earn between 0% and 250% of the target number of units granted based on actual stock performance. Accordingly, additional MSUs may be issued or currently outstanding MSUs may be cancelled upon final determination of the number of awards earned. Compensation expense, including the effect of forfeitures, is recognized over the applicable service period.

As of December 31, 2014 there was $4.1 million of unrecognized share-based compensation expense related to all unvested share-based awards.

Unrecognized stock-based compensation expense for equity awards will be adjusted for future changes in estimated forfeitures. This balance is expected to be recognized over a weighted-average period of three years.

Note 8 - Restructuring Charges

6 Months Ended

Dec. 31, 2014

Notes to Financial Statements

Restructuring and Related Activities Disclosure [Text Block]

(8)	Restructuring Charges

The Company recognizes restructuring charges when a plan that materially changes the scope of its business or the manner in which that business is conducted is adopted and communicated to the impacted parties, and the expenses have been incurred or are reasonably estimable.

Fiscal 2014 Restructuring Activity

In the fourth quarter of fiscal 2014, the Company announced restructuring actions as a result of the termination of the BARDA contract for the convenience of the U.S. Government. These restructuring activities are expected to be completed in fiscal 2015.

The following is a reconciliation of the beginning and ending balances of the restructuring liability:

	Balance at							Balance at
	June 30,							December 31,
Fiscal 2014 Restructuring Plans:	2014		Provision		Payments			2014
Severance and employment costs		2.0		-		(1.2	)		0.8
Total restructuring costs	$	2.0	$	-	$	(1.2	)	$	0.8

The remaining severance and other employment costs of approximately $0.8 million are scheduled to be paid by the end of fiscal 2015.

Significant Accounting Policies (Policies)	6 Months Ended
Significant Accounting Policies (Policies)	Dec. 31, 2014
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Standards In August 2014, the Financial Accounting Standards Board issued authoritative accounting guidance related to management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. Management’s evaluation should be based on relevant conditions and events that are known and reasonably knowable at the date that the financial statements are issued. In doing so, the amendments should reduce diversity in the timing and content of footnote disclosures. This guidance is effective for public and non-public entities for annual periods ending after December 15, 2016, and interim periods thereafter. Early adoption is permitted. The Company is currently assessing the expected impact, if any, that this Accounting Standards Update will have on the consolidated financial statements. In May 2014, the Financial Accounting Standards Board issued authoritative accounting guidance related to revenue from contracts with customers. This guidance is a comprehensive new revenue recognition model that requires a company to recognize revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. This guidance is effective for annual reporting periods beginning after December 15, 2016 and early adoption is not permitted. The Company will adopt this guidance on July 1, 2017. Companies may use either a full retrospective or a modified retrospective approach to adopt this guidance. The Company is evaluating which transition approach to use and its impact, if any, on its consolidated financial statements.

Note 3 - Fair Value Measurements (Tables)

6 Months Ended

Dec. 31, 2014

Notes Tables

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

			Quoted Prices in
			Active Markets for		Significant Other		Significant
			Identical Assets		Observable Inputs		Unobservable
	Total		(Level 1)		(Level 2)		Inputs (Level 3)
December 31, 2014
Cash equivalents	$	26.9	$	26.9	$	—	$	—
Short-term investments available-for-sale		7.1		—		7.1		—
Long-term investments available-for-sale		5.8		—		5.8		—

Total	$	39.8	$	26.9	$	12.9	$	—

			Quoted Prices in
			Active Markets for		Significant Other		Significant
			Identical Assets		Observable Inputs		Unobservable
	Total		(Level 1)		(Level 2)		Inputs (Level 3)
June 30, 2014
Cash equivalents	$	36.9	$	36.9	$	—	$	—
Long-term investments available-for-sale		10.0		—		10.0		—

Total	$	46.9	$	36.9	$	10.0		—

Unrealized Gain (Loss) on Investments [Table Text Block]

			Unrealized		Unrealized
	At Cost		Gains		(Losses)			At Fair Value
December 31, 2014
Money market funds	$	26.9	$	—	$	—		$	26.9
Debt securities of U.S. government agencies		2.5		—		—			2.5
U.S. Treasury securities		7.6		—		(0.1	)		7.5
Corporate Securities		2.9		—		—			2.9

Total	$	39.9	$	—	$	(0.1	)	$	39.8

			Unrealized		Unrealized
	At Cost		Gains		(Losses)		At Fair Value
June 30, 2014
Money market funds	$	36.9	$	—	$	—	$	36.9
Debt securities of U.S. government agencies		4.9		—		—		4.9
U.S. Treasury securities		5.1		—		—		5.1

Total	$	46.9	$	—	$	—	$	46.9

Note 4 - Accrued Expenses (Tables)

6 Months Ended

Dec. 31, 2014

Notes Tables

Schedule of Accrued Liabilities [Table Text Block]

	December 31, 2014		June 30, 201 4

Professional Fees	$	0.8	$	1.0
Salary and related costs		1.2		0.4
Research and development materials and services		1.3		0.8
Other accrued expenses		0.4		1.2
Total accrued expenses and other liabilities	$	3.7	$	3.4

Note 5 - Net Income (Loss) Per Share (Tables)

6 Months Ended

Dec. 31, 2014

Notes Tables

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	Three Months Ended December 31 ,
	2014		2013

Net income (loss) (in millions)	$	6.5	$	(0.1	)
Weighted-average shares outstanding		35,100,961		28,291,665
Dilutive effect of restricted stock and stock options		2,125		-
Shares used to compute diluted earnings per share		35,103,086		28,291,665
Basic net income (loss) per share	$	0.19	$	(0.00	)
Diluted net income (loss) per share	$	0.19	$	(0.00	)
Number of anti-dilutive share-based awards excluded from computation		3,178,424		2,538,263

	Six Months Ended December 31 ,
	2014			2013

Net loss (in millions)	$	(0.4	)	$	(4.0	)
Weighted-average shares outstanding		35,100,961			28,286,404
Dilutive effect of restricted stock and stock options		-			-
Shares used to compute diluted earnings per share		35,100,961			28,286,404
Basic net loss per share	$	(0.01	)	$	(0.14	)
Diluted net loss per share	$	(0.01	)	$	(0.14	)
Number of anti-dilutive share-based awards excluded from computation		3,293,424			2,538,263

Note 6 - Licenses, Royalty Collaborative and Contractual Arrangements (Tables)

6 Months Ended

Dec. 31, 2014

Notes Tables

Schedule of Segment Reporting Information, by Segment [Table Text Block]

	Three Months Ended December 31,
	2014		2013
	(in millions)
Royalty revenue– Relenza ^®	$	4.2	$	5.4
– Inavir ^®		2.3		0.6
Revenue from services		7.4		12.4
Revenue under other contracts, grants and collaborations		-		0.1
Total revenue	$	13.9	$	18.5

	Six Months Ended December 31,
	2014		2013
	(in millions)
Royalty revenue– Relenza ^®	$	4.2	$	5.4
– Inavir ^®		2.3		0.6
Revenue from services		8.1		24.6
Revenue under other contracts, grants and collaborations		-		0.2
Total revenue	$	14.6	$	30.8

Note 7 - Share-based Compensation (Tables)

6 Months Ended

Dec. 31, 2014

Notes Tables

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

	Three Months Ended						Six Months Ended
	December 31,						December 31,
	2014			2013			2014			2013
Weighted-average risk-free interest rate		1.70	%		1.40	%		1.70	%		1.49	%
Dividend yield		—			—			—			—
Expected weighted-average volatility		.82			.78			.82			.78
Expected weighted-average life of options (years)		6.0			6.0			6.0			6.0
Weighted-average fair value of options granted	$	1.68		$	2.78		$	1.67		$	2.75

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

	Number of Stock			Weighted Average Exercise Price		Weighted-Average Remaining Contractual		Aggregate Intrinsic
	Options			Per Option		Term		Value ($000)
						(In Years)
Balance at June 30, 2014		2,463,369		$	9.09
Granted		1,275,000			2.44
Exercised		—			—
Forfeited or expired		(444,945	)		9.73
Balance at December 31, 2014		3,293,424		$	6.43		8.18	$	-

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]

	December 31, 2014
	Outstanding
	Weighted Average						Exercisable
	Number of		Remaining		Weighted Average		Number of		Weighted Average
Exercise Prices	Stock Options		Contractual Life		Exercise Price		Stock Options		Exercise Price
			(In Years)
$ 2.20 — $2.30		115,000		9.69	$	2.29		—	$	—
$ 2.45		1,035,000		9.75		2.45		—		—
$ 2.47 — $4.05		605,000		9.07		3.18		86,250		3.96
$ 4.07 — $75.81		1,538,424		6.67		10.69		1,046,645		13.66
		3,293,424		8.18	$	6.43		1,132,895		12.92

Schedule of Nonvested Performance-based Units Activity [Table Text Block]

	Shares			Weighted Average Grant Date Fair Value
Balance at June 30, 2014		261,447		$	3.98
Awarded		40,000			2.45
Released		—			—
Forfeited		(38,152	)		4.02
Balance at December 31, 2014		263,295		$	3.74

Note 8 - Restructuring Charges (Tables)

6 Months Ended

Dec. 31, 2014

Notes Tables

Restructuring and Related Costs [Table Text Block]

	Balance at							Balance at
	June 30,							December 31,
Fiscal 2014 Restructuring Plans:	2014		Provision		Payments			2014
Severance and employment costs		2.0		-		(1.2	)		0.8
Total restructuring costs	$	2.0	$	-	$	(1.2	)	$	0.8

Note 1 - Company Overview (Details Textual) - USD ($) $ in Millions	1 Months Ended	3 Months Ended	6 Months Ended
	Mar. 31, 2011	Dec. 31, 2013	Dec. 31, 2013
Contracts Revenue		$ 0.1	$ 0.2
BARDA [Member]
Contracts Revenue	$ 231.0

Note 3 - Fair Value Measurements (Details Textual) $ in Millions	Dec. 31, 2014 USD ($)
Maximum Unrealized Loss Positions Maturing in Excess of One Year	$ 0.1

Note 3 - Summary of Investments (Details) - USD ($) $ in Millions	Dec. 31, 2014	Jun. 30, 2014
Cash equivalents	$ 39.8
Total	39.8	$ 46.9
Money Market Funds [Member]
Cash equivalents	26.9	36.9
Other Long-term Investments [Member]
Long-term investments available-for-sale	5.8	10.0
Short-term Investments [Member]
Cash equivalents	7.1
Fair Value, Inputs, Level 1 [Member]
Total	26.9	36.9
Fair Value, Inputs, Level 1 [Member] \| Money Market Funds [Member]
Cash equivalents	26.9	36.9
Fair Value, Inputs, Level 2 [Member]
Total	12.9	10.0
Fair Value, Inputs, Level 2 [Member] \| Other Long-term Investments [Member]
Long-term investments available-for-sale	5.8	$ 10.0
Fair Value, Inputs, Level 2 [Member] \| Short-term Investments [Member]
Cash equivalents	$ 7.1

- Definition

Investments in debt and equity securities which are categorized neither as held-to-maturity nor trading and which are intended to be sold or mature more than one year from the balance sheet date or operating cycle, if longer. Such securities are reported at fair value; unrealized gains (losses) related to Available-for-sale Securities are excluded from earnings and reported in a separate component of shareholders' equity (other comprehensive income), unless the Available-for-sale security is designated as a hedge or is determined to have had an other than temporary decline in fair value below its amortized cost basis. All or a portion of the unrealized holding gain (loss) of an Available-for-sale security that is designated as being hedged in a fair value hedge is recognized in earnings during the period of the hedge, as are other than temporary declines in fair value below the cost basis for investments in equity securities and debt securities that an entity intends to sell or it is more likely than not that it will be required to sell before the recovery of its amortized cost basis. Other than temporary declines in fair value below the cost basis for debt securities categorized as Available-for-sale that an entity does not intend to sell and for which it is not more likely than not that the entity will be required to sell before the recovery of its amortized cost basis are bifurcated into credit losses and losses related to all other factors. Other than temporary declines in fair value below cost basis related to credit losses are recognized in earnings, and losses related to all other factors are recognized in other comprehensive income.

+ References + Details

Note 3 - Summary of Unrealized Gain (Loss) on Investments (Details) - USD ($) $ in Millions	Dec. 31, 2014	Jun. 30, 2014
Money market funds	$ 39.9	$ 46.9
Money market funds	39.8
U.S. Treasury securities	(0.1)	46.9
Corporate Debt Securities [Member]
Money market funds	2.9
Money market funds	2.9
Money Market Funds [Member]
Money market funds	26.9	36.9
Money market funds	26.9	36.9
U.S. Treasury securities		36.9
US Government Agencies Debt Securities [Member]
Money market funds	2.5	4.9
Money market funds	2.5
U.S. Treasury securities		4.9
US Treasury Securities [Member]
Money market funds	7.6	5.1
Money market funds	7.5
U.S. Treasury securities	$ (0.1)	$ 5.1

Note 4 - Summary of Accrued Expenses (Details) - USD ($) $ in Millions	Dec. 31, 2014	Jun. 30, 2014
Professional Fees	$ 0.8	$ 1.0
Salary and related costs	1.2	0.4
Research and development materials and services	1.3	0.8
Other accrued expenses	0.4	1.2
Total accrued expenses and other liabilities	$ 3.7	$ 3.4

Note 5 - Computation of Historical Basic and Diluted Net Income (Loss) Per Share (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Net income (loss)	$ 6.5	$ (0.1)	$ (0.4)	$ (4.0)
Basic weighted-average shares outstanding (in shares)	35,100,961	28,291,665	35,100,961	28,286,404
Dilutive effect of restricted stock and stock options (in shares)	2,125
Shares used to compute diluted earnings per share (in shares)	35,103,086	28,291,665	35,100,961	28,286,404
Basic net income (loss) per share (in dollars per share)	$ 0.19	$ 0	$ (0.01)	$ (0.14)
Diluted net income (loss) per share (in dollars per share)	$ 0.19	$ 0	$ (0.01)	$ (0.14)
Number of anti-dilutive share-based awards excluded from computation (in shares)	3,178,424	2,538,263	3,293,424	2,538,263

- Definition

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

+ References + Details

- Definition

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

+ References + Details

Note 6 - Licenses, Royalty Collaborative and Contractual Arrangements (Details Textual) - USD ($) $ in Millions		1 Months Ended	6 Months Ended
	Jan. 15, 2015	Mar. 31, 2011	Dec. 31, 2014	Jun. 30, 2014
Contract Receivable			$ 7.4	$ 17.8
BARDA [Member]
Maximum Revenue From Contract		$ 231.2
Contract Term		5 years
Contract Receivable			$ 7.4
BARDA [Member] \| Subsequent Event [Member]
Proceeds from Collection of Other Receivables	$ 5.4
Daiichi Sankyo [Member] \| Japan [Member]
Royalty Payment Percentage			4.00%
GSK [Member] \| Australia, New Zealand, South Africa, and Indonesia [Member]
Royalty Payment Percentage			10.00%
GSK [Member] \| United States, Europe, Japan, And Other Countries [Member]
Royalty Payment Percentage			7.00%

Note 6 - Components of Revenues from Royalties, Collaborative and Contractual Agreements (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Royalty revenue and milestones	$ 6.5	$ 6.0	$ 6.5	$ 6.0
Revenue from services	7.4	12.4	8.1	24.6
Revenue under other contracts, grants and collaborations		0.1		0.2
Total revenue	13.9	18.5	14.6	30.8
Inavir [Member]
Royalty revenue and milestones	2.3	0.6	2.3	0.6
Relenza [Member]
Royalty revenue and milestones	$ 4.2	$ 5.4	$ 4.2	$ 5.4

Note 7 - Share-based Compensation (Details Textual) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense				$ 0	$ 0
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount				0	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value		$ 0
Proceeds from Stock Options Exercised		0
Employee Service Share-based Compensation, Tax Benefit Realized from Exercise of Stock Options		0
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized		4,100,000		4,100,000
The 2007 Omnibus Equity and Incentive Plan [Member]
Allocated Share-based Compensation Expense		$ 600,000	$ 500,000	$ 1,000,000	$ 900,000
MSU [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	108,183
MSU [Member] \| Maximum [Member]
Percentage of the Target Number of Units Granted Earned Based on Stock Performance				250.00%
MSU [Member] \| Minimum [Member]
Percentage of the Target Number of Units Granted Earned Based on Stock Performance				0.00%

Note 7 - Fair Value Assumptions (Details) - $ / shares	3 Months Ended		6 Months Ended
Note 7 - Fair Value Assumptions (Details) - $ / shares	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Weighted-average risk-free interest rate	1.70%	1.40%	1.70%	1.49%
Expected weighted-average volatility	0.82%	0.78%	0.82%	0.78%
Expected weighted-average life of options (years)	6 years	6 years	6 years	6 years
Weighted-average fair value of options granted (in dollars per share)	$ 1.68	$ 2.78	$ 1.67	$ 2.75

Note 7 - Stock Option Activity (Details)	6 Months Ended
Note 7 - Stock Option Activity (Details)	Dec. 31, 2014 $ / shares shares
Balance at June 30, 2014 (in shares) \| shares	2,463,369
Balance at June 30, 2014 (in dollars per share) \| $ / shares	$ 9.09
Granted (in shares) \| shares	1,275,000
Granted (in dollars per share) \| $ / shares	$ 2.44
Forfeited or expired (in shares) \| shares	(444,945)
Forfeited or expired (in dollars per share) \| $ / shares	$ 9.73
Balance at December 31, 2014 (in shares) \| shares	3,293,424
Balance at December 31, 2014 (in dollars per share) \| $ / shares	$ 6.43
Balance at December 31, 2014	8 years 65 days

Note 7 - Exercise Price Range Relating to Oustanding and Exercisable Options (Details)	6 Months Ended
	Dec. 31, 2014 $ / shares shares
Range 1 (in shares) \| shares	3,293,424
Range 1	8 years 65 days
Range 1 (in dollars per share)	$ 6.43
Range 3 (in shares) \| shares	1,132,895
Range 3 (in dollars per share)	$ 12.92
Range 4 [Member]
Range 1 (in dollars per share)	4.07
Range 1 (in dollars per share)	$ 75.81
Range 1 (in shares) \| shares	1,538,424
Range 1	6 years 244 days
Range 1 (in dollars per share)	$ 10.69
Range 3 (in shares) \| shares	1,046,645
Range 3 (in dollars per share)	$ 13.66
Range One [Member]
Range 1 (in dollars per share)	2.20
Range 1 (in dollars per share)	$ 2.30
Range 1 (in shares) \| shares	115,000
Range 1	9 years 251 days
Range 1 (in dollars per share)	$ 2.29
Range Three [Member]
Range 1 (in dollars per share)	2.47
Range 1 (in dollars per share)	$ 4.05
Range 1 (in shares) \| shares	605,000
Range 1	9 years 25 days
Range 1 (in dollars per share)	$ 3.18
Range 3 (in shares) \| shares	86,250
Range 3 (in dollars per share)	$ 3.96
Range Two [Member]
Range 1 (in dollars per share)	$ 2.45
Range 1 (in shares) \| shares	1,035,000
Range 1	9 years 273 days
Range 1 (in dollars per share)	$ 2.45

Note 7 - Summary of MSU Activity (Details) - Restricted Stock and Market Stock Units [Member]	6 Months Ended
	Dec. 31, 2014 $ / shares shares
Balance at June 30, 2014 (in shares) \| shares	261,447
Balance at June 30, 2014 (in dollars per share) \| $ / shares	$ 3.98
Awarded (in shares) \| shares	40,000
Awarded (in dollars per share) \| $ / shares	$ 2.45
Forfeited (in shares) \| shares	(38,152)
Forfeited (in dollars per share) \| $ / shares	$ 4.02
Balance at December 31, 2014 (in shares) \| shares	263,295
Balance at December 31, 2014 (in dollars per share) \| $ / shares	$ 3.74

Note 8 - Restructuring Charges (Details Textual) $ in Millions	3 Months Ended
	Dec. 31, 2014 USD ($)
Employee Severance [Member] \| Scenario, Forecast [Member]
Restructuring Charges	$ 0.8

Note 8 - Reconciliation of the Beginning and Ending Balances of the Restructuring Liability: (Details) $ in Millions	6 Months Ended
	Dec. 31, 2014 USD ($)
Severance and employment costs	$ 2.0
Severance and employment costs	(1.2)
Severance and employment costs	0.8
Employee Severance [Member]
Severance and employment costs	2.0
Severance and employment costs	(1.2)
Severance and employment costs	$ 0.8