Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2020 | Oct. 23, 2020 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001010086 | |
Entity Registrant Name | Siga Technologies INC | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2020 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2020 | |
Document Transition Report | false | |
Entity File Number | 0-23047 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 13-3864870 | |
Entity Address, Address Line One | 31 East 62nd Street | |
Entity Address, Postal Zip Code | 10065 | |
Entity Address, City or Town | New York | |
Entity Address, State or Province | NY | |
City Area Code | 212 | |
Local Phone Number | 672-9100 | |
Title of 12(b) Security | common stock, $.0001 par value | |
Trading Symbol | SIGA | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 77,399,505 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Current assets | ||
Cash and cash equivalents | $ 78,663,526 | $ 65,249,072 |
Restricted cash and cash equivalents, short-term | 0 | 95,737,862 |
Accounts receivable | 40,398,708 | 4,167,996 |
Inventory | 10,747,532 | 9,652,855 |
Prepaid expenses and other current assets | 1,290,388 | 5,234,000 |
Total current assets | 131,100,154 | 180,041,785 |
Property, plant and equipment, net | 2,236,668 | 2,618,303 |
Deferred tax assets, net | 6,484,111 | 14,151,002 |
Goodwill | 898,334 | 898,334 |
Other assets | 702,885 | 856,766 |
Total assets | 141,422,152 | 198,566,190 |
Current liabilities | ||
Accounts payable | 1,118,307 | 3,054,032 |
Accrued expenses and other current liabilities | 15,182,437 | 8,636,911 |
Total debt, current | 0 | 80,044,866 |
Total current liabilities | 16,300,744 | 91,735,809 |
Warrant liability | 9,026,690 | 6,116,882 |
Other liabilities | 3,134,304 | 2,929,743 |
Total liabilities | 28,461,738 | 100,782,434 |
Commitments and contingencies | ||
Stockholders’ equity | ||
Common stock ($.0001 par value, 600,000,000 shares authorized, 77,770,284 and 81,269,868, issued and outstanding at September 30, 2020 and December 31, 2019, respectively) | 7,777 | 8,127 |
Additional paid-in capital | 221,587,384 | 220,808,037 |
Accumulated deficit | (108,634,747) | (123,032,408) |
Total stockholders’ equity | 112,960,414 | 97,783,756 |
Total liabilities and stockholders’ equity | $ 141,422,152 | $ 198,566,190 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Sep. 30, 2020 | Dec. 31, 2019 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized (in shares) | 600,000,000 | 600,000,000 |
Common stock, shares issued (in shares) | 77,770,284 | 81,269,868 |
Common stock, shares outstanding (in shares) | 77,770,284 | 81,269,868 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Revenues | ||||
Total revenues | $ 44,261,407 | $ 8,111,324 | $ 87,229,949 | $ 22,478,019 |
Operating expenses | ||||
Cost of sales and supportive services | 5,559,215 | 737,274 | 10,465,078 | 1,652,641 |
Selling, general and administrative | 3,566,258 | 3,196,370 | 10,613,267 | 9,755,165 |
Research and development | 2,073,613 | 3,343,521 | 7,933,404 | 9,379,125 |
Patent expenses | 164,102 | 173,580 | 520,902 | 543,806 |
Total operating expenses | 11,363,188 | 7,450,745 | 29,532,651 | 21,330,737 |
Operating income | 32,898,219 | 660,579 | 57,697,298 | 1,147,282 |
(Loss) gain from change in fair value of warrant liability | (1,274,156) | 981,923 | (2,909,808) | 4,774,711 |
Loss on extinguishment of Term Loan | 0 | 0 | (4,981,461) | 0 |
Interest expense | 0 | (3,971,952) | (3,016,817) | (11,871,401) |
Other income, net | 24,932 | 759,881 | 469,226 | 2,233,588 |
Income (loss) before income taxes | 31,648,995 | (1,569,569) | 47,258,438 | (3,715,820) |
(Provision) benefit for income taxes | (7,461,038) | 363,742 | (11,077,854) | 977,278 |
Net and comprehensive income (loss) | $ 24,187,957 | $ (1,205,827) | $ 36,180,584 | $ (2,738,542) |
Basic income (loss) per share (in dollars per share) | $ 0.31 | $ (0.01) | $ 0.45 | $ (0.03) |
Diluted income (loss) per share (in dollars per share) | $ 0.31 | $ (0.03) | $ 0.45 | $ (0.09) |
Weighted average shares outstanding: basic (in shares) | 78,080,461 | 81,064,927 | 79,880,493 | 80,988,813 |
Weighted average shares outstanding: diluted (in shares) | 78,168,070 | 82,181,858 | 80,051,778 | 82,148,333 |
Product Sales and Supportive Services [Member] | ||||
Revenues | ||||
Total revenues | $ 41,810,192 | $ 3,915,335 | $ 80,547,651 | $ 11,057,735 |
Research and Development [Member] | ||||
Revenues | ||||
Total revenues | $ 2,451,215 | $ 4,195,989 | $ 6,682,298 | $ 11,420,284 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Cash flows from operating activities: | ||
Net income/(loss) | $ 36,180,584 | $ (2,738,542) |
Adjustments to reconcile net income/(loss) to net cash used in operating activities: | ||
Depreciation and other amortization | 397,136 | 395,540 |
Loss/(gain) on change in fair value of warrant liability | 2,909,808 | (4,774,711) |
Stock-based compensation | 963,372 | 1,717,380 |
Deferred income taxes, net | 7,666,891 | (1,065,675) |
Loss on extinguishment of Term Loan | 4,981,461 | 0 |
Non-cash interest expense | 887,132 | 3,363,712 |
Changes in assets and liabilities: | ||
Accounts receivable | (36,230,712) | (1,258,568) |
Inventory | 1,507,995 | (1,022,951) |
Prepaid expenses and other assets | 1,494,821 | 2,189,076 |
Accounts payable, accrued expenses and other liabilities | 474,736 | (697,325) |
Deferred revenue | 4,339,626 | (47,939) |
Net cash provided by/(used in) operating activities | 25,572,850 | (3,940,003) |
Cash flows from investing activities: | ||
Capital expenditures | (15,501) | (29,092) |
Net cash used in investing activities | (15,501) | (29,092) |
Cash flows from financing activities: | ||
Payment of employee tax obligations for common stock tendered | (184,009) | (199,810) |
Repurchase of common stock | (21,783,289) | 0 |
Repayment of Term Loan | (85,913,459) | 0 |
Net cash used in financing activities | (107,880,757) | (199,810) |
Net decrease in cash, cash equivalents and restricted cash | (82,323,408) | (4,168,905) |
Cash, cash equivalents and restricted cash at the beginning of period | 160,986,934 | 180,396,910 |
Cash, cash equivalents and restricted cash at end of period | 78,663,526 | 176,228,005 |
Supplemental disclosure of non-cash activities: | ||
Conversion of warrants to common stock | 0 | 1,172,801 |
Issuance of common stock upon cashless exercise | $ 0 | $ 118,500 |
Note 1 - Condensed Consolidated
Note 1 - Condensed Consolidated Financial Statements | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. Condensed Consolidated Financial Statements The financial statements are presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and the rules and regulations of the Securities and Exchange Commission (the “SEC”) for quarterly reports on Form 10 December 31, 2019 2019 10 not 2019 10 March 5, 2020. 2019 not three nine September 30, 2020 not |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. Revenue Recognition All of the Company’s revenue is derived from long-term contracts that span multiple years. The Company accounts for revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers 606” September 30, 2020 Note 3 six two one September 30, 2020 not Performance Obligations A performance obligation is a promise in a contract to transfer a distinct good or service to the customer, and is the unit of account in ASC 606. Contract modifications may not The Company’s performance obligations are satisfied over time as work progresses or at a point in time. All of the Company’s revenue related to current research and development performance obligations is recognized over time, because the customer simultaneously receives and consumes the benefits provided by the services as the Company performs these services. The Company recognizes revenue related to these services based on the progress toward complete satisfaction of the performance obligation and measures this progress under an input method, which is based on the Company’s cost incurred relative to total estimated costs. Under this method, progress is measured based on the cost of resources consumed (i.e., cost of third third Contract Balances The timing of revenue recognition, billings and cash collections may September 30, 2020 nine September 30, 2020 Restricted Cash and Cash Equivalents On March 13, 2020, October 31, 2018 t (as required under the Loan Agreement related to the Term Loan). Cash Note 8 second 2019, second 2019. The following tables reconcile cash, cash equivalents and restricted cash per the condensed consolidated statements of cash flows to the condensed consolidated balance sheet for each respective period: As of September 30, 2020 December 31, 2019 Cash and cash equivalents $ 78,663,526 $ 65,249,072 Restricted cash-short term — 95,737,862 Cash, cash equivalents and restricted cash $ 78,663,526 $ 160,986,934 September 30, 2019 December 31, 2018 Cash and cash equivalents $ 78,095,231 $ 100,652,809 Restricted cash-short term 11,053,200 11,452,078 Restricted cash-long term 87,079,574 68,292,023 Cash, cash equivalents and restricted cash $ 176,228,005 $ 180,396,910 Repurchase of shares When shares recognized as equity are repurchased, the amount of the consideration paid, which includes directly attributable costs, is recognized as a deduction from equity. The excess of the purchase price above par value of repurchased shares that are retired is presented as an increase to accumulated deficit (or a reduction of retained earnings, if any). Recent Accounting Pronouncements In June 2016, No. 2016 13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments 2016 13" 2016 13 December 15, 2019, no |
Note 3 - Procurement Contracts
Note 3 - Procurement Contracts and Research Agreements | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Procurement Contract and Research Agreements [Text Block] | 3. 19C On September 10, 2018, September 30, 2020 "19C five may ten 19C May 20, 2019, four four 363,070 three April 29, 2020. four May 2019 363,070 not 19C The base period of performance specifies potential payments of approximately $51.7 million for the following activities: payments of approximately $11.1 million for the delivery of approximately 35,700 courses of oral TPOXX® to the Strategic Stockpile; payments of $8.0 million for the manufacture of 20,000 courses of final drug product of IV TPOXX® ("IV FDP"), of which $3.2 million of payments are related to the manufacture of bulk drug substance ("IV BDS") to be used in the manufacture of IV FDP; payments of approximately $32.0 million to fund advanced development of IV TPOXX®; and payments of approximately $0.6 million for supportive procurement activities. As of September 30, 2020 September 30, 2020 December 31, 2019 The options that have been exercised to date provide for payments up to approximately $127.1 million. There are exercised options for the following activities: payments up to $11.2 million for the procurement of raw materials to be used in the manufacture of at least 363,070 September 30, 2020 June September fourth 2020, June October 2020, September third 2020, not nine September 30, 2020 June September not October, fourth 2020 Unexercised options specify potential payments up to approximately $423.7 million in total (if all such options are exercised). There are options for the following activities: payments of up to $337.7 million for the delivery of up to approximately 1,089,000 courses of oral TPOXX® to the Strategic Stockpile; payments of up to $76.8 million for the manufacture of up to 192,000 courses of IV FDP, of which up to $ million of payments would be paid upon the manufacture of IV BDS to be used in the manufacture of IV FDP; payments of up to approximately $3.6 mill The options related to IV TPOXX® are divided into two may none 19C three three 64,000 Revenues in connection with the 19C 19C three September 30, 2020 2019 nine September 30, 2020 2019 three nine September 30, 2020 three nine September 30, 2019 2011 On May 13, 2011, no The contract with BARDA (as amended, modified, or supplemented from time to time the "2011 "2011 2011 September 30, 2020 For courses of oral TPOXX® that have been physically delivered to the Strategic Stockpile under the 2011 no not July 13, 2018, no The 2011 July 30, 2018, 2011 84 August 2018. 2011 2011 may not 2015, two The 2011 December 2024. Revenues in connection with the 2011 2011 three September 30, 2020 2019 nine September 30, 2020 2019 three nine September 30, 2020 three nine September 30, 2019 International Procurement Contracts On April 3, 2020, four second 2020, June 3, 2019. Under the terms of the International Promotion Agreement, Meridian was granted exclusive rights to market, advertise, promote, offer for sale, or sell oral TPOXX® in a field of use specified in the International Promotion Agreement in all geographic regions except for the United States (the “Territory”), and Meridian has agreed not The fee Meridian retains pursuant to the International Promotion Agreement will be a specified percentage of the collected proceeds of sales of oral TPOXX® net of certain expenses, for years in which customer invoiced amounts net of such expenses are less than or equal to a specified threshold, and a higher specified percentage of such collected net proceeds for years in which such net invoiced amounts exceed the specified threshold. Revenue in connection with international procurement contracts for the delivery of product are recognized at a point in time. During the nine September 30, 2020 2.3 three September 30, 2020 Research Agreements and Grants The Company has an R&D program for IV TPOXX®. This program is funded by the 19C February 2024. September 30, 2020 Revenues in connection with the IV Formulation R&D Contract are recognized over time, under an input method using costs incurred to date relative to the total estimated costs of completion. For the three September 30, 2020 2019 nine September 30, 2020 2019 three June 30, 2019, not January 2016 March 2019. In July 2019, May 2020, September 30, 2020 July 31, 2025. three nine September 30, 2020 over time basis. Contracts and grants include, among other things, options that may may not may not |
Note 4 - Inventory
Note 4 - Inventory | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 4. Inventory Inventory includes costs related to the manufacture of TPOXX®. Inventory consisted of the following: As of September 30, 2020 December 31, 2019 Raw materials $ 2,628,153 $ - Work in-process 1,657,374 8,693,457 Finished goods 6,462,005 959,398 Inventory $ 10,747,532 $ 9,652,855 |
Note 5 - Property, Plant and Eq
Note 5 - Property, Plant and Equipment | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 5. Property, Plant and Equipment Property, plant and equipment consisted of the following: As of September 30, 2020 December 31, 2019 Leasehold improvements $ 2,420,028 $ 2,420,028 Computer equipment 617,298 601,797 Furniture and fixtures 377,859 377,859 Operating lease right-of-use assets 2,944,932 2,944,932 6,360,117 6,344,616 Less - accumulated depreciation and amortization (4,123,449 ) (3,726,313 ) Property, plant and equipment, net $ 2,236,668 $ 2,618,303 Depreciation and amortization expense on property, plant, and equipment was $397,136 and $395,540 for the nine September 30, 2020 2019 |
Note 6 - Accrued Expenses and O
Note 6 - Accrued Expenses and Other Current Liabilities | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Accrued Expenses and Other Liabilities [Text Block] | 6. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following: As of September 30, 2020 December 31, 2019 Deferred revenue $ 6,637,967 $ 2,298,341 Income tax payable 3,705,395 7,093 Compensation 2,497,175 2,966,139 Inventory 517,643 71,541 Lease liability, current portion 441,992 419,709 Vacation 423,205 256,402 Other 373,376 643,570 Professional fees 352,594 288,707 Research and development vendor costs 233,090 707,685 Interest payable - 977,724 Accrued expenses and other current liabilities $ 15,182,437 $ 8,636,911 |
Note 7 - Financial Instruments
Note 7 - Financial Instruments | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Financial Instruments Disclosure [Text Block] | 7. Financial Instruments 2016 On September 2, 2016, Note 8 ten 10 September 30, 2020 The Company accounts for the Warrant in accordance with the authoritative guidance, which requires that free-standing derivative financial instruments with certain anti-dilution and cash settlement features be classified as assets or liabilities at the time of the transaction, and recorded at their fair value. Any changes in the fair value of the derivative instruments are reported in earnings or loss as long as the derivative contracts are classified as assets or liabilities. The Company classified the Warrant as a liability and reports the change in fair value in the statement of operations. As of September 30, 2020 no |
Note 8 - Debt
Note 8 - Debt | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 8. On March 13, 2020, nine September 30, 2020 On September 2, 2016, November 16, 2016 September 30, 2016 ( November 16, 2016), not not no no November 16, 2016. The Term Loan had a maturity date on the earliest to occur of (i) the four Through the three one May 17, 2020) In connection with the issuance of the Loan Agreement, the Company incurred $8.2 million of costs (including interest on amounts held in the escrow account between September 30, 2016 November 15, 2016). $4.0 7 not |
Note 9 - Fair Value of Financia
Note 9 - Fair Value of Financial Instruments | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 9. Fair Value of Financial Instruments The carrying value of cash equivalents, restricted cash, accounts receivable, accounts payable and accrued expenses and other current liabilities approximates fair value due to the relatively short maturity of these instruments. Common stock warrants, which are classified as a liability, are recorded at their fair market value as of each reporting period. The measurement of fair value requires the use of techniques based on observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions. The inputs create the following fair value hierarchy: • Level 1 • Level 2 not • Level 3 third The Company uses model-derived valuations where certain inputs are unobservable to third 3. Note 7 September 30, 2020 There were no nine September 30, 2020 September 30, 2020 December 31, 2019, 1 no 2 September 30, 2020 December 31, 2019, 1 2 The following table presents changes in the liability-classified warrant measured at fair value using Level 3 Fair Value Measurements of Level 3 liability-classified warrant Warrant liability at December 31, 2019 $ 6,116,882 Increase in fair value of warrant liability 2,909,808 Exercise of warrants — Warrant liability at September 30, 2020 $ 9,026,690 |
Note 10 - Per Share Data
Note 10 - Per Share Data | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 10. Per Share Data The Company computes, presents and discloses earnings per share in accordance with the authoritative guidance, which specifies the computation, presentation and disclosure requirements for earnings per share of entities with publicly held common stock or potential common stock. The objective of basic EPS is to measure the performance of an entity over the reporting period by dividing income (loss) by the weighted average shares outstanding. The objective of diluted EPS is consistent with that of basic EPS, except that it also gives effect to all potentially dilutive common shares outstanding during the period. The following is a reconciliation of the basic and diluted loss per share computation: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Net income/(loss) for basic earnings per share $ 24,187,957 $ (1,205,827 ) $ 36,180,584 $ (2,738,542 ) Less: Change in fair value of warrants — 981,923 — 4,774,711 Net income/(loss), adjusted for change in fair value of warrants for diluted earnings per share $ 24,187,957 $ (2,187,750 ) $ 36,180,584 $ (7,513,253 ) Weighted-average shares 78,080,461 81,064,927 79,880,493 80,988,813 Effect of potential common shares 87,609 1,116,931 171,285 1,159,520 Weighted-average shares: diluted 78,168,070 82,181,858 80,051,778 82,148,333 Income/(loss) per share: basic $ 0.31 $ (0.01 ) $ 0.45 $ (0.03 ) Income/(loss) per share: diluted $ 0.31 $ (0.03 ) $ 0.45 $ (0.09 ) For the three nine September 30, 2020 not three nine September 30, 2020 three nine September 30, 2020 For the three nine September 30, 2019 Three Months Ended September 30, Nine Months Ended September 30, 2019 2019 Stock options 332,861 353,801 Stock-settled stock appreciation rights — 2,227 Restricted stock units 598,793 545,422 The appreciation of each stock-settled stock appreciation right was capped at a determined maximum value. As a result, the weighted average number shown in the table above for stock-settled stock appreciation rights reflected the weighted average maximum number of shares that could be issued. |
Note 11 - Commitments and Conti
Note 11 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 11. Commitments and Contingencies From time to time, we may not Purchase Commitments In the course of our business, the Company regularly enters into agreements with third not ds. As of September 30, 2020 , the Company had approximatel urchase commitments. |
Note 12 - Related Party Transac
Note 12 - Related Party Transactions | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 12. Related Party Transactions Board of Directors and Outside Counsel A member of the Company’s Board of Directors is a partner at the Company’s outside counsel. During the three September 30, 2020 2019 nine September 30, 2020 2019 September 30, 2020 Board of Directors-Consulting Agreement On October 13, 2018, October 13, 2020 not three September 30, 2020 nine September 30, 2020 September 30, 2020 Real Estate Leases On May 26, 2017, ten 31 62 nd first sixty-three first six first sixty-fourth first second five three nine September 30, 2020 On July 31, 2017, January 9, 2013 660 1700, Effectiveness of the Old HQ Sublease Termination Agreement was conditioned upon the commencement of a sublease for the Old HQ between M&F and a new subtenant (the “Replacement M&F Sublease”), which occurred on August 2, 2017. 660 Under the Old HQ Sublease, the Company was obligated to pay fixed rent of approximately $60,000 per month until August 2018 September, 2020. 660 Under the Replacement M&F Sublease, the subtenant’s rental obligations were excused for the first two 2 first twelve 12 12 September, 2020. As a result of the above-mentioned transactions, the Company discontinued usage of Old HQ in the third 2017. December 31, 2017 420, Exit or Disposal Obligations |
Note 13 - Income Taxes
Note 13 - Income Taxes | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 13. Income Taxes The Company’s provision for income taxes consists of federal and state taxes, as applicable, in amounts necessary to align the Company’s year-to-date tax provision with the effective rate that it expects to achieve for the full year. Each quarter the Company updates its estimate of the annual effective tax rate and records cumulative adjustments as necessary. On March 27, 2020, 19 740, 163 2019 2020 168 2018, 2019, 2020 five 2019 For the three September 30, 2020 2019 For the nine September 30, 2020 2019 The effective tax rate for the three September 30, 2020 three September 30, 2019 three September 30, 2020 2019 162 The effective tax rate for the nine September 30, 2020 nine September 30, 2020 2019 162 |
Note 14 - Equity
Note 14 - Equity | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 14. The tables below present changes in stockholders' equity for the three nine September 30, 2020 2019 Common Stock Additional Paid-in Accumulated Other Comprehensive Total Stockholders' Shares Amount Capital Deficit Income Equity Balances at June 30, 2020 78,618,743 $ 7,862 $ 221,380,828 $ (127,255,672 ) $ — $ 94,133,018 Net income — — 24,187,957 — 24,187,957 Repurchase of common stock (886,472 ) (89 ) — (5,567,032 ) — (5,567,121 ) Payment of common stock tendered for employee stock-based compensation tax obligations (27,143 ) (3 ) (174,260 ) — — (174,263 ) Issuance of common stock upon exercise of stock options 11,822 1 (1 ) — Issuance of common stock upon vesting of RSUs 53,334 6 (6 ) — — — Stock-based compensation — — 380,823 — — 380,823 Balances at September 30, 2020 77,770,284 $ 7,777 $ 221,587,384 $ (108,634,747 ) $ — $ 112,960,414 Common Stock Additional Paid-in Accumulated Other Comprehensive Total Stockholders' Shares Amount Capital Deficit Income Equity Balances at December 31, 2019 81,269,868 $ 8,127 $ 220,808,037 $ (123,032,408 ) $ — $ 97,783,756 Net income — — — 36,180,584 — 36,180,584 Repurchase of common stock (3,660,247 ) (366 ) — (21,782,923 ) — (21,783,289 ) Payment of common stock tendered for employee stock-based compensation tax obligations (29,035 ) (3 ) (184,006 ) — — (184,009 ) Issuance of common stock upon exercise of stock options 11,822 1 (1 ) — — — Issuance of common stock upon vesting of RSUs 177,876 18 (18 ) — — — Stock-based compensation — — 963,372 — — 963,372 Balances at September 30, 2020 77,770,284 $ 7,777 $ 221,587,384 $ (108,634,747 ) $ — $ 112,960,414 Common Stock Additional Paid-in Accumulated Other Comprehensive Total Stockholders' Shares Amount Capital Deficit Income Equity Balances at June 30, 2019 81,046,524 $ 8,105 $ 220,770,338 $ (117,323,976 ) $ — $ 103,454,467 Net loss — — — (1,205,827 ) — (1,205,827 ) Issuance of common stock 53,332 5 (5 ) — — — Payment of common stock tendered for employee stock-based compensation tax obligations (25,576 ) (3 ) (143,217 ) (143,220 ) Stock-based compensation — — 761,096 — — 761,096 Balances at September 30, 2019 81,074,280 $ 8,107 $ 221,388,212 $ (118,529,803 ) $ — $ 102,866,516 Common Stock Additional Paid-in Accumulated Other Comprehensive Total Stockholders' Shares Amount Capital Deficit Income Deficiency Balances at December 31, 2018 80,763,350 $ 8,076 $ 218,697,872 $ (115,791,261 ) $ — $ 102,914,687 Net loss — — — (2,738,542 ) — (2,738,542 ) Issuance of common stock upon exercise of stock options 9,769 1 (1 ) — — — Issuance of common stock upon vesting of RSUs and exercise of stock-settled appreciation rights 121,771 12 (12 ) — — — Issuance of common stock upon exercise of warrants 159,782 16 1,172,785 — — 1,172,801 Issuance of common stock 53,332 5 (5 ) — Payment of common stock tendered for employee stock-based compensation tax obligations (33,724 ) (3 ) (199,807 ) — — (199,810 ) Stock-based compensation — — 1,717,380 — — 1,717,380 Balances at September 30, 2019 81,074,280 $ 8,107 $ 221,388,212 $ (118,529,803 ) $ — $ 102,866,516 On March 5, 2020, may December 31, 2021. may may 10b5 1 1934, three nine September 30, 2020 |
Note 15 - Leases
Note 15 - Leases | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 15. The Company leases its Corvallis, Oregon, facilities and office space under an operating lease, which was signed on November 3, 2017 January 1, 2018. December 31, 2019 two one two three second 2019, first December 31, 2021. On May 26, 2017 ten no Operating lease costs totaled $0.2 million and $0.2 million for the three September 30, 2020 2019 nine September 30, 2020 2019 three September 30, 2020 2019 nine September 30, 2020 2019 September 30, 2020 Future cash flows under operating leases as of September 30, 2020 2020 $ 98,915 2021 600,362 2022 368,467 2023 402,078 2024 404,258 Thereafter 982,880 Total undiscounted cash flows under leases 2,856,960 Less: Imputed interest (388,143 ) Present value of lease liabilities $ 2,468,817 As of September 30, 2020 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2020 | |
Accounting Policies [Abstract] | |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition All of the Company’s revenue is derived from long-term contracts that span multiple years. The Company accounts for revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers 606” September 30, 2020 Note 3 six two one September 30, 2020 not Performance Obligations A performance obligation is a promise in a contract to transfer a distinct good or service to the customer, and is the unit of account in ASC 606. Contract modifications may not The Company’s performance obligations are satisfied over time as work progresses or at a point in time. All of the Company’s revenue related to current research and development performance obligations is recognized over time, because the customer simultaneously receives and consumes the benefits provided by the services as the Company performs these services. The Company recognizes revenue related to these services based on the progress toward complete satisfaction of the performance obligation and measures this progress under an input method, which is based on the Company’s cost incurred relative to total estimated costs. Under this method, progress is measured based on the cost of resources consumed (i.e., cost of third third Contract Balances The timing of revenue recognition, billings and cash collections may September 30, 2020 nine September 30, 2020 |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | Restricted Cash and Cash Equivalents On March 13, 2020, October 31, 2018 t (as required under the Loan Agreement related to the Term Loan). Cash Note 8 second 2019, second 2019. The following tables reconcile cash, cash equivalents and restricted cash per the condensed consolidated statements of cash flows to the condensed consolidated balance sheet for each respective period: As of September 30, 2020 December 31, 2019 Cash and cash equivalents $ 78,663,526 $ 65,249,072 Restricted cash-short term — 95,737,862 Cash, cash equivalents and restricted cash $ 78,663,526 $ 160,986,934 September 30, 2019 December 31, 2018 Cash and cash equivalents $ 78,095,231 $ 100,652,809 Restricted cash-short term 11,053,200 11,452,078 Restricted cash-long term 87,079,574 68,292,023 Cash, cash equivalents and restricted cash $ 176,228,005 $ 180,396,910 |
Stockholders' Equity, Policy [Policy Text Block] | Repurchase of shares When shares recognized as equity are repurchased, the amount of the consideration paid, which includes directly attributable costs, is recognized as a deduction from equity. The excess of the purchase price above par value of repurchased shares that are retired is presented as an increase to accumulated deficit (or a reduction of retained earnings, if any). |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In June 2016, No. 2016 13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments 2016 13" 2016 13 December 15, 2019, no |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Cash, Cash Equivalents and Investments [Table Text Block] | As of September 30, 2020 December 31, 2019 Cash and cash equivalents $ 78,663,526 $ 65,249,072 Restricted cash-short term — 95,737,862 Cash, cash equivalents and restricted cash $ 78,663,526 $ 160,986,934 September 30, 2019 December 31, 2018 Cash and cash equivalents $ 78,095,231 $ 100,652,809 Restricted cash-short term 11,053,200 11,452,078 Restricted cash-long term 87,079,574 68,292,023 Cash, cash equivalents and restricted cash $ 176,228,005 $ 180,396,910 |
Note 4 - Inventory (Tables)
Note 4 - Inventory (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | As of September 30, 2020 December 31, 2019 Raw materials $ 2,628,153 $ - Work in-process 1,657,374 8,693,457 Finished goods 6,462,005 959,398 Inventory $ 10,747,532 $ 9,652,855 |
Note 5 - Property, Plant and _2
Note 5 - Property, Plant and Equipment (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | As of September 30, 2020 December 31, 2019 Leasehold improvements $ 2,420,028 $ 2,420,028 Computer equipment 617,298 601,797 Furniture and fixtures 377,859 377,859 Operating lease right-of-use assets 2,944,932 2,944,932 6,360,117 6,344,616 Less - accumulated depreciation and amortization (4,123,449 ) (3,726,313 ) Property, plant and equipment, net $ 2,236,668 $ 2,618,303 |
Note 6 - Accrued Expenses and_2
Note 6 - Accrued Expenses and Other Current Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Accrued Expenses and Other Current Liabilities [Table Text Block] | As of September 30, 2020 December 31, 2019 Deferred revenue $ 6,637,967 $ 2,298,341 Income tax payable 3,705,395 7,093 Compensation 2,497,175 2,966,139 Inventory 517,643 71,541 Lease liability, current portion 441,992 419,709 Vacation 423,205 256,402 Other 373,376 643,570 Professional fees 352,594 288,707 Research and development vendor costs 233,090 707,685 Interest payable - 977,724 Accrued expenses and other current liabilities $ 15,182,437 $ 8,636,911 |
Note 9 - Fair Value of Financ_2
Note 9 - Fair Value of Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Fair Value Measurements of Level 3 liability-classified warrant Warrant liability at December 31, 2019 $ 6,116,882 Increase in fair value of warrant liability 2,909,808 Exercise of warrants — Warrant liability at September 30, 2020 $ 9,026,690 |
Note 10 - Per Share Data (Table
Note 10 - Per Share Data (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Net income/(loss) for basic earnings per share $ 24,187,957 $ (1,205,827 ) $ 36,180,584 $ (2,738,542 ) Less: Change in fair value of warrants — 981,923 — 4,774,711 Net income/(loss), adjusted for change in fair value of warrants for diluted earnings per share $ 24,187,957 $ (2,187,750 ) $ 36,180,584 $ (7,513,253 ) Weighted-average shares 78,080,461 81,064,927 79,880,493 80,988,813 Effect of potential common shares 87,609 1,116,931 171,285 1,159,520 Weighted-average shares: diluted 78,168,070 82,181,858 80,051,778 82,148,333 Income/(loss) per share: basic $ 0.31 $ (0.01 ) $ 0.45 $ (0.03 ) Income/(loss) per share: diluted $ 0.31 $ (0.03 ) $ 0.45 $ (0.09 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2019 2019 Stock options 332,861 353,801 Stock-settled stock appreciation rights — 2,227 Restricted stock units 598,793 545,422 |
Note 14 - Equity (Tables)
Note 14 - Equity (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Stockholders Equity [Table Text Block] | Common Stock Additional Paid-in Accumulated Other Comprehensive Total Stockholders' Shares Amount Capital Deficit Income Equity Balances at June 30, 2020 78,618,743 $ 7,862 $ 221,380,828 $ (127,255,672 ) $ — $ 94,133,018 Net income — — 24,187,957 — 24,187,957 Repurchase of common stock (886,472 ) (89 ) — (5,567,032 ) — (5,567,121 ) Payment of common stock tendered for employee stock-based compensation tax obligations (27,143 ) (3 ) (174,260 ) — — (174,263 ) Issuance of common stock upon exercise of stock options 11,822 1 (1 ) — Issuance of common stock upon vesting of RSUs 53,334 6 (6 ) — — — Stock-based compensation — — 380,823 — — 380,823 Balances at September 30, 2020 77,770,284 $ 7,777 $ 221,587,384 $ (108,634,747 ) $ — $ 112,960,414 Common Stock Additional Paid-in Accumulated Other Comprehensive Total Stockholders' Shares Amount Capital Deficit Income Equity Balances at December 31, 2019 81,269,868 $ 8,127 $ 220,808,037 $ (123,032,408 ) $ — $ 97,783,756 Net income — — — 36,180,584 — 36,180,584 Repurchase of common stock (3,660,247 ) (366 ) — (21,782,923 ) — (21,783,289 ) Payment of common stock tendered for employee stock-based compensation tax obligations (29,035 ) (3 ) (184,006 ) — — (184,009 ) Issuance of common stock upon exercise of stock options 11,822 1 (1 ) — — — Issuance of common stock upon vesting of RSUs 177,876 18 (18 ) — — — Stock-based compensation — — 963,372 — — 963,372 Balances at September 30, 2020 77,770,284 $ 7,777 $ 221,587,384 $ (108,634,747 ) $ — $ 112,960,414 Common Stock Additional Paid-in Accumulated Other Comprehensive Total Stockholders' Shares Amount Capital Deficit Income Equity Balances at June 30, 2019 81,046,524 $ 8,105 $ 220,770,338 $ (117,323,976 ) $ — $ 103,454,467 Net loss — — — (1,205,827 ) — (1,205,827 ) Issuance of common stock 53,332 5 (5 ) — — — Payment of common stock tendered for employee stock-based compensation tax obligations (25,576 ) (3 ) (143,217 ) (143,220 ) Stock-based compensation — — 761,096 — — 761,096 Balances at September 30, 2019 81,074,280 $ 8,107 $ 221,388,212 $ (118,529,803 ) $ — $ 102,866,516 Common Stock Additional Paid-in Accumulated Other Comprehensive Total Stockholders' Shares Amount Capital Deficit Income Deficiency Balances at December 31, 2018 80,763,350 $ 8,076 $ 218,697,872 $ (115,791,261 ) $ — $ 102,914,687 Net loss — — — (2,738,542 ) — (2,738,542 ) Issuance of common stock upon exercise of stock options 9,769 1 (1 ) — — — Issuance of common stock upon vesting of RSUs and exercise of stock-settled appreciation rights 121,771 12 (12 ) — — — Issuance of common stock upon exercise of warrants 159,782 16 1,172,785 — — 1,172,801 Issuance of common stock 53,332 5 (5 ) — Payment of common stock tendered for employee stock-based compensation tax obligations (33,724 ) (3 ) (199,807 ) — — (199,810 ) Stock-based compensation — — 1,717,380 — — 1,717,380 Balances at September 30, 2019 81,074,280 $ 8,107 $ 221,388,212 $ (118,529,803 ) $ — $ 102,866,516 |
Note 15 - Leases (Tables)
Note 15 - Leases (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | 2020 $ 98,915 2021 600,362 2022 368,467 2023 402,078 2024 404,258 Thereafter 982,880 Total undiscounted cash flows under leases 2,856,960 Less: Imputed interest (388,143 ) Present value of lease liabilities $ 2,468,817 |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies (Details Textual) $ in Millions | 9 Months Ended |
Sep. 30, 2020USD ($) | |
Revenue, Remaining Performance Obligation, Amount | $ 100.9 |
Contract with Customer, Asset, after Allowance for Credit Loss, Total | 2.5 |
Contract with Customer, Liability, Revenue Recognized | $ 0.1 |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies - Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2018 |
Cash and cash equivalents | $ 78,663,526 | $ 65,249,072 | $ 78,095,231 | $ 100,652,809 |
Restricted cash-short term | 0 | 95,737,862 | 11,053,200 | 11,452,078 |
Cash, cash equivalents and restricted cash | $ 78,663,526 | $ 160,986,934 | 176,228,005 | 180,396,910 |
Restricted cash-long term | $ 87,079,574 | $ 68,292,023 |
Note 3 - Procurement Contract_2
Note 3 - Procurement Contracts and Research Agreements (Details Textual) $ in Thousands | Apr. 29, 2020USD ($) | Apr. 03, 2020USD ($) | May 20, 2019USD ($)shares | Oct. 31, 2020USD ($) | Sep. 30, 2020USD ($) | Jun. 30, 2020USD ($) | Aug. 31, 2018USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2019USD ($) | Mar. 31, 2019USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2019USD ($) | May 31, 2020USD ($) | Jul. 31, 2019USD ($) | Sep. 10, 2018 | May 13, 2011 |
Contract with Customer, Liability, Revenue Recognized | $ 100 | |||||||||||||||
The 19C BARDA Contract [Member] | ||||||||||||||||
Number of Courses to Be Delivered | 1,488,000 | |||||||||||||||
Number of Courses Stored As Vendor Managed Inventory | 212,000 | |||||||||||||||
Government Contract, Value of Award | $ 602,500 | |||||||||||||||
Government Contract, Base Period, Value of Award for Delivery and Support Activities | $ 51,700 | $ 51,700 | $ 51,700 | 51,700 | ||||||||||||
Base Period of Performance (Year) | 5 years | |||||||||||||||
Government Contract, Value, Payments Remaining Related to Exercised Options | $ 127,100 | 127,100 | 127,100 | 127,100 | ||||||||||||
Government Contract, Value, Payments Currently Specified as Unexercised Options | $ 423,700 | 423,700 | 423,700 | $ 423,700 | ||||||||||||
Base Period of Performance, Exercise of Options, Term (Year) | 10 years | |||||||||||||||
Number of Courses Divided into Procurement-Related Options | 363,070 | |||||||||||||||
Number of Procurement-related Options, Conversion of Option, Manufacture and Delivery of Courses (in shares) | shares | 4 | |||||||||||||||
Payments to be Received, Procurement-related Options Providing for Payment for Procurement of Raw Materials | $ 11,200 | |||||||||||||||
Number of Procurement-related Options Specifying Delivery of Courses for Consideration (in shares) | shares | 3 | |||||||||||||||
Courses to be Delivered, Procurement-related Options Specifying Delivery of Courses for Consideration | 121,000 | |||||||||||||||
Payments to be Received, Procurement-related Options Specifying Delivery of Courses for Consideration | $ 33,800 | |||||||||||||||
Payments to be Received, Procurement-related Options | $ 112,500 | |||||||||||||||
Government Contract, Base Period, Value of Award for Delivery and Support Activities, Delivery of Courses | $ 11,100 | $ 11,100 | $ 11,100 | |||||||||||||
Government Contract, Base Period, Number of Deliveries | 35,700 | 35,700 | 35,700 | |||||||||||||
Government Contract, Base Period, Value of Award for Delivery and Support Activities, Manufacture of Courses | $ 8,000 | $ 8,000 | $ 8,000 | |||||||||||||
Government Contract, Base Period, Value of Award for Delivery and Support Activities, Advanced Development | 32,000 | 32,000 | 32,000 | |||||||||||||
Government Contract, Base Period, Value of Award for Delivery and Support Activities, Supportive Procurement Activities | $ 600 | 600 | 600 | |||||||||||||
Proceeds from Delivery of Courses | $ 11,100 | |||||||||||||||
Number of Courses Delivered | 134,000 | 117,000 | 35,700 | |||||||||||||
Proceeds from Other Base Period Activities | $ 4,700 | |||||||||||||||
Contract with Customer, Liability, Total | $ 3,500 | 3,500 | 3,500 | |||||||||||||
Government Contract, Value, Payments Related to Exercised Options, Procurement of Raw Materials | 11,200 | |||||||||||||||
Government Contract, Value, Payments Related to Exercised Options, Funding of Post-Marketing Activities | 14,600 | 14,600 | 14,600 | |||||||||||||
Contract with Customer, Liability, Revenue Recognized | $ 32,600 | 41,400 | $ 77,700 | |||||||||||||
Number of Courses, Containing Raw Materials, Delivered | 112,000 | |||||||||||||||
Proceeds for the Funding of Post-marketing Activities | $ 2,300 | |||||||||||||||
Government Contract, Value, Payments Related to Unexercised Options, Funding of Post-Marketing Activities | 3,600 | 3,600 | 3,600 | |||||||||||||
Government Contract, Value of Unexercised Options, Supportive Procurement Activities | $ 5,600 | 5,600 | 5,600 | |||||||||||||
The 19C BARDA Contract [Member] | Transferred over Time [Member] | ||||||||||||||||
Contract with Customer, Liability, Revenue Recognized | 1,800 | $ 2,200 | 5,200 | $ 4,000 | ||||||||||||
The 19C BARDA Contract [Member] | Transferred at Point in Time [Member] | ||||||||||||||||
Contract with Customer, Liability, Revenue Recognized | $ 41,400 | 3,900 | $ 77,700 | 11,100 | ||||||||||||
The 19C BARDA Contract [Member] | Subsequent Event [Member] | ||||||||||||||||
Contract with Customer, Liability, Revenue Recognized | $ 37,300 | |||||||||||||||
The 19C BARDA Contract [Member] | IV TPOXX [Member] | ||||||||||||||||
Government Contract, Base Period, Number of Courses Manufactured | 20,000 | 20,000 | 20,000 | |||||||||||||
Government Contract, Value, Payments Currently Specified as Unexercised Options, Delivery of Courses | $ 337,700 | $ 337,700 | $ 337,700 | |||||||||||||
Government Contract, Unexercised Options, Number of Deliveries | 1,089,000 | 1,089,000 | 1,089,000 | |||||||||||||
Number of Manufacturing Steps | 2 | 2 | 2 | |||||||||||||
The 19C BARDA Contract [Member] | IV BDS [Member] | ||||||||||||||||
Government Contract, Base Period, Value of Award for Delivery and Support Activities, Manufacture of Courses | $ 3,200 | $ 3,200 | $ 3,200 | |||||||||||||
Proceeds from the Manufacture of Courses | 3,200 | |||||||||||||||
Contract with Customer, Liability, Total | 3,200 | 3,200 | 3,200 | |||||||||||||
Government Contract, Value, Payments Currently Specified as Unexercised Options, Manufacture of Courses | $ 30,700 | $ 30,700 | $ 30,700 | |||||||||||||
Government Contract, Number of Options for Manufacture of Product | 3 | 3 | 3 | |||||||||||||
Government Contract, Courses Manufactured Upon Exercise of Options | 64,000 | 64,000 | 64,000 | |||||||||||||
The 19C BARDA Contract [Member] | Oral TPOXX [Member] | ||||||||||||||||
Proceeds from Delivery of Courses | $ 101,300 | |||||||||||||||
Number of Courses Delivered | 363,070 | |||||||||||||||
The 19C BARDA Contract [Member] | Oral TPOXX [Member] | Subsequent Event [Member] | ||||||||||||||||
Number of Courses Delivered | 112,000 | |||||||||||||||
The 19C BARDA Contract [Member] | Previously Received [Member] | ||||||||||||||||
Number of Courses Delivered | 251,000 | |||||||||||||||
Contract with Customer, Liability, Revenue Recognized | $ 4,100 | $ 7,700 | ||||||||||||||
The 19C BARDA Contract [Member] | Product Delivery and Acceptance [Member] | ||||||||||||||||
Contract with Customer, Liability, Revenue Recognized | 37,300 | 69,900 | ||||||||||||||
The 19C BARDA Contract [Member] | IV FDP [Member] | ||||||||||||||||
Government Contract, Value, Payments Currently Specified as Unexercised Options, Manufacture of Courses | $ 76,800 | $ 76,800 | $ 76,800 | |||||||||||||
Government Contract, Value, Unexercised Options, Manufacture of Courses | 192,000 | 192,000 | 192,000 | |||||||||||||
Government Contract, Number of Options for Manufacture of Product | 3 | 3 | 3 | |||||||||||||
Government Contract, Courses Manufactured Upon Exercise of Options | 64,000 | 64,000 | 64,000 | |||||||||||||
The 2011 BARDA Contract [Member] | ||||||||||||||||
Number of Courses to Be Delivered | 1,700,000 | |||||||||||||||
Government Contract, Value of Award | $ 508,400 | $ 508,400 | $ 508,400 | |||||||||||||
Government Contract, Value, Payments Remaining Related to Exercised Options | $ 72,700 | $ 72,700 | 72,700 | |||||||||||||
Number of Additional Courses to be Delivered at No Additional Cost | 300,000 | |||||||||||||||
Proceeds from the Manufacture and Delivery of Courses | $ 459,800 | |||||||||||||||
Number of Courses to be Manufactured | 1,700,000 | 1,700,000 | 1,700,000 | |||||||||||||
Proceeds from Reimbursements in Connection with Development and Supportive Activities | $ 45,500 | |||||||||||||||
Amount Eligible to be Received for Reimbursements of Development and Supportive Activities | $ 3,100 | $ 3,100 | 3,100 | |||||||||||||
Proceeds from Government Contract Options, Exercised | $ 50,000 | |||||||||||||||
Government Contract, Increase (Decrease) in Value of Award, FDA Approval | $ 50,000 | |||||||||||||||
Government Contract, Value, Payments Related to Exercised Options, Development and Supportive Activities | 58,300 | 58,300 | 58,300 | |||||||||||||
Government Contract, Value, Payments Related to Exercised Options, Production-related Activities | 14,400 | 14,400 | 14,400 | |||||||||||||
The 2011 BARDA Contract [Member] | Transferred over Time [Member] | ||||||||||||||||
Contract with Customer, Liability, Revenue Recognized | 100 | 100 | 200 | 300 | ||||||||||||
The 2011 BARDA Contract [Member] | Transferred at Point in Time [Member] | ||||||||||||||||
Contract with Customer, Liability, Revenue Recognized | 300 | 0 | 400 | 0 | ||||||||||||
Canadian Contract [Member] | Meridian Medical Technologies [Member] | ||||||||||||||||
Government Contract, Term (Year) | 4 years | |||||||||||||||
Government Contract Receivable | $ 14,300 | $ 2,300 | ||||||||||||||
Government Contract, Number of Courses Purchased | 2,500 | |||||||||||||||
Canadian Contract [Member] | Meridian Medical Technologies [Member] | Maximum [Member] | ||||||||||||||||
Government Contract, Number of Courses to Be Purchased | 15,325 | |||||||||||||||
International Procurement Contracts [Member] | Transferred at Point in Time [Member] | ||||||||||||||||
Contract with Customer, Liability, Revenue Recognized | 0 | 2,300 | ||||||||||||||
The IV Formulation R & D Contract with BARDA [Member] | ||||||||||||||||
Government Contract, Future Aggregate Research and Development Funding | 2,000 | 2,000 | 2,000 | |||||||||||||
The IV Formulation R & D Contract with BARDA [Member] | Transferred over Time [Member] | ||||||||||||||||
Contract with Customer, Liability, Revenue Recognized | 400 | $ 1,700 | 1,100 | $ 7,100 | ||||||||||||
Contract with Customer, Asset, Cumulative Catch-up Adjustment to Revenue, Change in Estimate of Transaction Price | $ 3,300 | |||||||||||||||
The PEP Label Expansion R & D Contract with the Department of Defense [Member] | ||||||||||||||||
Grants Receivable | $ 26,000 | $ 19,500 | ||||||||||||||
Government Contract, Initial Award | $ 22,500 | 22,500 | 22,500 | $ 23,000 | $ 12,400 | |||||||||||
The PEP Label Expansion R & D Contract with the Department of Defense [Member] | Transferred over Time [Member] | ||||||||||||||||
Contract with Customer, Liability, Revenue Recognized | $ 200 | $ 300 |
Note 4 - Inventory - Inventory
Note 4 - Inventory - Inventory (Details) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Raw materials | $ 2,628,153 | $ 0 |
Work in-process | 1,657,374 | 8,693,457 |
Finished goods | 6,462,005 | 959,398 |
Inventory | $ 10,747,532 | $ 9,652,855 |
Note 5 - Property, Plant and _3
Note 5 - Property, Plant and Equipment (Details Textual) - USD ($) | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Depreciation, Depletion and Amortization, Total | $ 397,136 | $ 395,540 |
Note 5 - Property, Plant and _4
Note 5 - Property, Plant and Equipment - Property, Plant and Equipment (Details) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Property, plant and equipment, gross | $ 6,360,117 | $ 6,344,616 |
Operating lease right-of-use assets | 2,944,932 | 2,944,932 |
Less - accumulated depreciation and amortization | (4,123,449) | (3,726,313) |
Property, plant and equipment, net | 2,236,668 | 2,618,303 |
Leasehold Improvements [Member] | ||
Property, plant and equipment, gross | 2,420,028 | 2,420,028 |
Computer Equipment [Member] | ||
Property, plant and equipment, gross | 617,298 | 601,797 |
Furniture and Fixtures [Member] | ||
Property, plant and equipment, gross | $ 377,859 | $ 377,859 |
Note 6 - Accrued Expenses and_3
Note 6 - Accrued Expenses and Other Current Liabilities - Accrued Expenses and Other Current Liabilities (Details) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Deferred revenue | $ 6,637,967 | $ 2,298,341 |
Income tax payable | 3,705,395 | 7,093 |
Compensation | 2,497,175 | 2,966,139 |
Inventory | 517,643 | 71,541 |
Lease liability, current portion | 441,992 | 419,709 |
Vacation | 423,205 | 256,402 |
Other | 373,376 | 643,570 |
Professional fees | 352,594 | 288,707 |
Research and development vendor costs | 233,090 | 707,685 |
Interest payable | 0 | 977,724 |
Accrued expenses and other current liabilities | $ 15,182,437 | $ 8,636,911 |
Note 7 - Financial Instruments
Note 7 - Financial Instruments (Details Textual) $ / shares in Units, shares in Millions | Sep. 30, 2020USD ($)shares | Dec. 31, 2019USD ($) | Sep. 02, 2016USD ($)$ / sharesshares |
Warrants and Rights Outstanding | $ | $ 9,026,690 | $ 6,116,882 | |
The 2016 Warrant [Member] | |||
Class of Warrant or Right Outstanding, Common Stock Value Used to Determine Number of Shares Called | $ | $ 4,000,000 | ||
Class of Warrant or Right Outstanding, Common Stock Price Per Share Used to Determine Number of Shares Called (in dollars per share) | $ / shares | $ 2.29 | ||
Warrants and Rights Outstanding, Term (Year) | 10 years | ||
Class of Warrant or Right, Subscription Price of Warrants or Rights (in dollars per share) | $ / shares | $ 1.50 | ||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 1.50 | ||
Class of Warrant or Right, Outstanding (in shares) | shares | 1.5 | 2.7 | |
Warrants and Rights Outstanding | $ | $ 9,000,000 | ||
The 2016 Warrant [Member] | Measurement Input, Risk Free Interest Rate [Member] | |||
Warrants and Rights Outstanding, Measurement Input | 0.0037 | ||
The 2016 Warrant [Member] | Measurement Input, Expected Dividend Rate [Member] | |||
Warrants and Rights Outstanding, Measurement Input | 0 | ||
The 2016 Warrant [Member] | Measurement Input, Expected Term [Member] | |||
Warrants and Rights Outstanding, Measurement Input | 5.92 | ||
The 2016 Warrant [Member] | Measurement Input, Price Volatility [Member] | |||
Warrants and Rights Outstanding, Measurement Input | 0.70 |
Note 8 - Debt (Details Textual)
Note 8 - Debt (Details Textual) - USD ($) | Mar. 13, 2020 | Nov. 16, 2016 | Sep. 30, 2016 | Sep. 02, 2016 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 |
Repayments of Long-term Debt, Principal | $ 85,913,459 | $ 0 | |||||||
Gain (Loss) on Extinguishment of Debt, Total | $ 0 | $ 0 | (4,981,461) | $ 0 | |||||
Warrants and Rights Outstanding | $ 9,026,690 | 9,026,690 | $ 6,116,882 | ||||||
Warrant Issued Alongside Entry Into the Loan Agreement [Member] | |||||||||
Warrants and Rights Outstanding | $ 5,800,000 | ||||||||
Loan Agreement [Member] | Term Loan [Member] | OCM Strategic Credit SIGTEC Holdings, LLC [Member] | |||||||||
Repayments of Long-term Debt Including Interest | $ 87,200,000 | ||||||||
Repayments of Long-term Debt, Principal | 80,000,000 | ||||||||
Repayments of Long-term Debt, Repayment Fee | 4,000,000 | ||||||||
Interest Paid, Including Capitalized Interest, Operating and Investing Activities, Total | 1,200,000 | ||||||||
Repayments of Long-term Debt, Prepayment Premium | $ 1,900,000 | ||||||||
Gain (Loss) on Extinguishment of Debt, Total | $ (5,000,000) | ||||||||
Proceeds from Issuance of Debt | $ 80,000,000 | ||||||||
Proceeds from Issuance of Debt, Placed in Escrow | $ 80,000,000 | ||||||||
Debt Instrument, Term (Year) | 4 years | ||||||||
Debt Instrument, Repayment Fee | $ 4,000,000 | ||||||||
Debt Issuance Costs, Gross | $ 8,200,000 | ||||||||
Loan Agreement [Member] | Term Loan [Member] | OCM Strategic Credit SIGTEC Holdings, LLC [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||||||
Debt Instrument, Basis Spread on Variable Rate | 11.50% | ||||||||
Loan Agreement [Member] | Term Loan [Member] | OCM Strategic Credit SIGTEC Holdings, LLC [Member] | US Treasury (UST) Interest Rate [Member] | |||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.50% |
Note 9 - Fair Value of Financ_3
Note 9 - Fair Value of Financial Instruments (Details Textual) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 |
Warrants and Rights Outstanding | $ 9,026,690 | $ 6,116,882 |
Fair Value, Inputs, Level 1 [Member] | ||
Cash and Cash Equivalents, Fair Value Disclosure | 42,000,000 | 56,700,000 |
Restricted Cash and Cash Equivalents, Total | 5,600,000 | |
Fair Value, Inputs, Level 2 [Member] | ||
Cash and Cash Equivalents, Fair Value Disclosure | 0 | |
Restricted Cash and Cash Equivalents, Total | $ 90,000,000 | |
The 2016 Warrant [Member] | ||
Warrants and Rights Outstanding | $ 9,000,000 |
Note 9 - Fair Value of Financ_4
Note 9 - Fair Value of Financial Instruments - Changes in the Liability-classified Warrant Measured at Fair Value (Details) | 9 Months Ended |
Sep. 30, 2020USD ($) | |
Warrant liability | $ 6,116,882 |
Increase in fair value of warrant liability | 2,909,808 |
Exercise of warrants | 0 |
Warrant liability | $ 9,026,690 |
Note 10 - Per Share Data (Detai
Note 10 - Per Share Data (Details Textual) - shares | 3 Months Ended | 9 Months Ended |
Sep. 30, 2020 | Sep. 30, 2020 | |
Warrant [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 1,205,829 | 1,146,898 |
Note 10 - Per Share Data - Reco
Note 10 - Per Share Data - Reconciliation of the Basic and Diluted Loss Per Share (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Net income/(loss) | $ 24,187,957 | $ (1,205,827) | $ 36,180,584 | $ (2,738,542) |
Less: Change in fair value of warrants | 0 | 981,923 | 0 | 4,774,711 |
Net income/(loss), adjusted for change in fair value of warrants for diluted earnings per share | $ 24,187,957 | $ (2,187,750) | $ 36,180,584 | $ (7,513,253) |
Weighted average shares outstanding: basic (in shares) | 78,080,461 | 81,064,927 | 79,880,493 | 80,988,813 |
Effect of potential common shares (in shares) | 87,609 | 1,116,931 | 171,285 | 1,159,520 |
Weighted average shares outstanding: diluted (in shares) | 78,168,070 | 82,181,858 | 80,051,778 | 82,148,333 |
Basic income (loss) per share (in dollars per share) | $ 0.31 | $ (0.01) | $ 0.45 | $ (0.03) |
Diluted income (loss) per share (in dollars per share) | $ 0.31 | $ (0.03) | $ 0.45 | $ (0.09) |
Note 10 - Per Share Data - Anti
Note 10 - Per Share Data - Antidilutive Securities Excluded from Computation (Details) - shares | 3 Months Ended | 9 Months Ended |
Sep. 30, 2019 | Sep. 30, 2019 | |
Share-based Payment Arrangement, Option [Member] | ||
Antidilutive securities (in shares) | 332,861 | 353,801 |
Stock Appreciation Rights (SARs) [Member] | ||
Antidilutive securities (in shares) | 0 | 2,227 |
Restricted Stock Units (RSUs) [Member] | ||
Antidilutive securities (in shares) | 598,793 | 545,422 |
Note 11 - Commitments and Con_2
Note 11 - Commitments and Contingencies (Details Textual) $ in Millions | Sep. 30, 2020USD ($) |
Purchase Commitment, Remaining Minimum Amount Committed | $ 31.3 |
Note 12 - Related Party Trans_2
Note 12 - Related Party Transactions (Details Textual) | Jul. 31, 2017USD ($) | May 26, 2017USD ($)ft² | Jan. 09, 2013USD ($)ft² | Sep. 30, 2020USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2019USD ($) | Dec. 31, 2017USD ($) | Oct. 13, 2018USD ($) |
Leasehold Improvements and Furniture and Fixtures [Member] | |||||||||
Impairment of Long-Lived Assets to be Disposed of | $ 100,000 | ||||||||
Outside Counsel [Member] | |||||||||
Legal Fees | $ 91,000 | $ 117,000 | $ 393,000 | $ 353,000 | |||||
Accounts Payable, Related Parties | 73,000 | 73,000 | |||||||
Dr. Eric A. Rose [Member] | Consulting Agreement [Member] | |||||||||
Accounts Payable, Related Parties | 50,000 | 50,000 | |||||||
Related Party Transaction, Annual Amount | $ 200,000 | ||||||||
Related Party Transaction, Expenses from Transactions with Related Party | 50,000 | 150,000 | |||||||
MacAndrews and Forbes Incorporated [Member] | The New HQ Lease [Member] | |||||||||
Lessee, Operating Lease, Term of Contract (Year) | 10 years | ||||||||
Area of Real Estate Property (Square Foot) | ft² | 3,200 | ||||||||
Monthly Rent During Initial Period | $ 25,333 | ||||||||
Monthly Rent, Initial Period (Month) | 63 months | ||||||||
Monthly Rent After Initial Period | $ 29,333 | ||||||||
Monthly Facility Fee, Second Year | $ 3,333 | ||||||||
Monthly Facility Fee, Yearly Rate Increase After Second Year | 5.00% | ||||||||
Monthly Facility Fee, Final Year | $ 4,925 | ||||||||
Operating Lease, Expense | $ 100,000 | $ 300,000 | |||||||
MacAndrews and Forbes Incorporated [Member] | The Old HQ Sublease [Member] | |||||||||
Area of Real Estate Property (Square Foot) | ft² | 6,676 | ||||||||
Monthly Rent During Initial Period | $ 60,000 | ||||||||
Monthly Rent After Initial Period | $ 63,400 | ||||||||
Business Exit Costs | $ 1,100,000 | ||||||||
MacAndrews and Forbes Incorporated [Member] | The Replacement M&F Sublease [Member] | |||||||||
Rent Concession Period (Month) | 2 months | ||||||||
Monthly Rent, First Twelve Months | $ 36,996 | ||||||||
Monthly Rent, Year Two | 37,831 | ||||||||
Monthly Rent, Thereafter | $ 38,665 |
Note 13 - Income Taxes (Details
Note 13 - Income Taxes (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Tax Adjustments, Settlements, and Unusual Provisions | $ 19,000 | |||
Income Taxes Receivable | $ 700,000 | 700,000 | ||
Income (Loss) Attributable to Parent, before Tax, Total | 31,600,000 | $ (1,600,000) | 47,300,000 | $ (3,700,000) |
Income Tax Expense (Benefit), Total | $ 7,461,038 | $ (363,742) | $ 11,077,854 | $ (977,278) |
Effective Income Tax Rate Reconciliation, Percent, Total | 23.60% | 23.20% | 23.40% | 26.30% |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% | 21.00% | |
Deferred Tax Assets, Net of Valuation Allowance, Total | $ (700,000) |
Note 14 - Equity (Details Textu
Note 14 - Equity (Details Textual) - USD ($) shares in Millions | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2020 | Mar. 05, 2020 | |
Stock Repurchase Program, Authorized Amount | $ 50,000,000 | ||
Stock Repurchased During Period, Shares (in shares) | 0.9 | 3.7 | |
Stock Repurchased During Period, Value | $ 5,567,121 | $ 21,783,289 |
Note 14 - Equity - Changes in S
Note 14 - Equity - Changes in Stockholders' Equity (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Balances | $ 94,133,018 | $ 103,454,467 | $ 97,783,756 | $ 102,914,687 |
Net income/(loss) | $ 24,187,957 | (1,205,827) | $ 36,180,584 | (2,738,542) |
Repurchase of common stock (in shares) | (900,000) | (3,700,000) | ||
Repurchase of common stock | $ (5,567,121) | $ (21,783,289) | ||
Payment of common stock tendered for employee stock-based compensation tax obligations | (174,263) | (143,220) | (184,009) | (199,810) |
Issuance of common stock upon exercise of stock options | 0 | 0 | 0 | |
Issuance of common stock upon vesting of RSUs | 0 | 0 | ||
Stock-based compensation | 380,823 | 761,096 | 963,372 | 1,717,380 |
Issuance of common stock | 0 | 0 | ||
Issuance of common stock upon vesting of RSUs and exercise of stock-settled appreciation rights | 0 | |||
Issuance of common stock upon exercise of warrants | 1,172,801 | |||
Balances | $ 112,960,414 | $ 102,866,516 | $ 112,960,414 | $ 102,866,516 |
Common Stock [Member] | ||||
Balances (in shares) | 78,618,743 | 81,046,524 | 81,269,868 | 80,763,350 |
Balances | $ 7,862 | $ 8,105 | $ 8,127 | $ 8,076 |
Net income/(loss) | $ 0 | $ 0 | $ 0 | $ 0 |
Repurchase of common stock (in shares) | (886,472) | (3,660,247) | ||
Repurchase of common stock | $ (89) | $ (366) | ||
Payment of common stock tendered for employee stock-based compensation tax obligations (in shares) | (27,143) | (25,576) | (29,035) | (33,724) |
Payment of common stock tendered for employee stock-based compensation tax obligations | $ (3) | $ (3) | $ (3) | $ (3) |
Issuance of common stock upon exercise of stock options (in shares) | 11,822 | 11,822 | 9,769 | |
Issuance of common stock upon exercise of stock options | $ 1 | $ 1 | $ 1 | |
Issuance of common stock upon vesting of RSUs (in shares) | 53,334 | 177,876 | ||
Issuance of common stock upon vesting of RSUs | $ 6 | $ 18 | ||
Stock-based compensation | $ 0 | $ 0 | $ 0 | $ 0 |
Issuance of common stock (in shares) | 53,332 | 53,332 | ||
Issuance of common stock | $ 5 | $ 5 | ||
Issuance of common stock upon vesting of RSUs and exercise of stock-settled appreciation rights (in shares) | 121,771 | |||
Issuance of common stock upon vesting of RSUs and exercise of stock-settled appreciation rights | $ 12 | |||
Issuance of common stock upon exercise of warrants (in shares) | 159,782 | |||
Issuance of common stock upon exercise of warrants | $ 16 | |||
Balances (in shares) | 77,770,284 | 81,074,280 | 77,770,284 | 81,074,280 |
Balances | $ 7,777 | $ 8,107 | $ 7,777 | $ 8,107 |
Additional Paid-in Capital [Member] | ||||
Balances | 221,380,828 | 220,770,338 | 220,808,037 | 218,697,872 |
Net income/(loss) | 0 | 0 | 0 | 0 |
Repurchase of common stock | 0 | 0 | ||
Payment of common stock tendered for employee stock-based compensation tax obligations | (174,260) | (143,217) | (184,006) | (199,807) |
Issuance of common stock upon exercise of stock options | (1) | (1) | (1) | |
Issuance of common stock upon vesting of RSUs | (6) | (18) | ||
Stock-based compensation | 380,823 | 761,096 | 963,372 | 1,717,380 |
Issuance of common stock | (5) | (5) | ||
Issuance of common stock upon vesting of RSUs and exercise of stock-settled appreciation rights | (12) | |||
Issuance of common stock upon exercise of warrants | 1,172,785 | |||
Balances | 221,587,384 | 221,388,212 | 221,587,384 | 221,388,212 |
Retained Earnings [Member] | ||||
Balances | (127,255,672) | (117,323,976) | (123,032,408) | (115,791,261) |
Net income/(loss) | 24,187,957 | (1,205,827) | 36,180,584 | (2,738,542) |
Repurchase of common stock | (5,567,032) | (21,782,923) | ||
Payment of common stock tendered for employee stock-based compensation tax obligations | 0 | 0 | 0 | |
Issuance of common stock upon exercise of stock options | 0 | 0 | ||
Issuance of common stock upon vesting of RSUs | 0 | 0 | ||
Stock-based compensation | 0 | 0 | 0 | 0 |
Issuance of common stock | 0 | |||
Issuance of common stock upon vesting of RSUs and exercise of stock-settled appreciation rights | 0 | |||
Issuance of common stock upon exercise of warrants | 0 | |||
Balances | (108,634,747) | (118,529,803) | (108,634,747) | (118,529,803) |
AOCI Attributable to Parent [Member] | ||||
Balances | 0 | 0 | 0 | 0 |
Net income/(loss) | 0 | 0 | 0 | 0 |
Repurchase of common stock | 0 | 0 | ||
Payment of common stock tendered for employee stock-based compensation tax obligations | 0 | 0 | 0 | |
Issuance of common stock upon exercise of stock options | 0 | 0 | ||
Issuance of common stock upon vesting of RSUs | 0 | 0 | ||
Stock-based compensation | 0 | 0 | 0 | 0 |
Issuance of common stock | 0 | |||
Issuance of common stock upon vesting of RSUs and exercise of stock-settled appreciation rights | 0 | |||
Issuance of common stock upon exercise of warrants | 0 | |||
Balances | $ 0 | $ 0 | $ 0 | $ 0 |
Note 15 - Leases (Details Textu
Note 15 - Leases (Details Textual) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2020USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2019USD ($) | Dec. 31, 2019 | May 26, 2017ft² | |
Lessee, Operating Lease, First Renewal Term (Year) | 2 years | |||||
Lessee, Operating Lease, Second Renewal Term (Year) | 3 years | |||||
Operating Lease, Cost | $ 200,000 | $ 200,000 | $ 500,000 | $ 400,000 | ||
Operating Lease, Payments | $ 100,000 | $ 100,000 | $ 400,000 | $ 400,000 | ||
Operating Lease, Weighted Average Remaining Lease Term (Year) | 5 years 9 months 21 days | 5 years 9 months 21 days | ||||
Operating Lease, Weighted Average Discount Rate, Percent | 4.53% | 4.53% | ||||
Operating Lease, Liability, Total | $ 2,468,817 | $ 2,468,817 | ||||
Other Liabilities [Member] | ||||||
Operating Lease, Liability, Total | $ 2,000,000 | $ 2,000,000 | ||||
MacAndrews and Forbes Incorporated [Member] | The New HQ Lease [Member] | ||||||
Lessee, Operating Lease, Term of Contract (Year) | 10 years | |||||
Area of Real Estate Property (Square Foot) | ft² | 3,200 |
Note 15 - Leases - Future Undis
Note 15 - Leases - Future Undiscounted Cash Flows Under Operating Leases (Details) | Sep. 30, 2020USD ($) |
2020 | $ 98,915 |
2021 | 600,362 |
2022 | 368,467 |
2023 | 402,078 |
2024 | 404,258 |
Thereafter | 982,880 |
Total undiscounted cash flows under leases | 2,856,960 |
Less: Imputed interest | (388,143) |
Present value of lease liabilities | $ 2,468,817 |