SIGA (SIGA) 10-Q 5 May 22 2022 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2022	Apr. 18, 2022
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	Q1
Document Fiscal Year Focus	2022
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
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	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		72,406,667

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 153,259,914	$ 103,138,819
Accounts receivable	5,338,900	83,650,450
Inventory	16,277,501	19,510,379
Prepaid expenses and other current assets	2,232,989	2,453,444
Total current assets	177,109,304	208,753,092
Property, plant and equipment, net	2,238,431	2,365,957
Deferred income taxes, net	4,035,141	2,422,607
Goodwill	898,334	898,334
Other assets	265,433	286,585
Total assets	184,546,643	214,726,575
Current liabilities
Accounts payable	1,778,359	2,028,004
Accrued expenses and other current liabilities	4,653,420	9,252,812
Income tax payable	808,771	19,207,042
Total current liabilities	7,240,550	30,487,858
Warrant liability	6,170,337	6,521,441
Other liabilities	3,398,960	3,402,869
Total liabilities	16,809,847	40,412,168
Commitments and contingencies
Stockholders’ equity
Common stock ($.0001 par value, 600,000,000 shares authorized, 72,566,367 and 73,543,602, issued and outstanding at March 31, 2022 and December 31, 2021, respectively)	7,256	7,354
Additional paid-in capital	226,426,529	226,070,308
Accumulated deficit	(58,696,989)	(51,763,255)
Total stockholders’ equity	167,736,796	174,314,407
Total liabilities and stockholders’ equity	$ 184,546,643	$ 214,726,575

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
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)	72,566,367	73,543,602
Common stock, shares outstanding (in shares)	72,566,367	73,543,602

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues
Total revenues	$ 10,539,299	$ 4,813,744
Operating expenses
Cost of sales and supportive services	4,720,116	250,848
Selling, general and administrative	3,518,030	4,056,184
Research and development	3,546,776	2,302,785
Patent expenses	193,258	193,334
Total operating expenses	11,978,180	6,803,151
Operating loss	(1,438,881)	(1,989,407)
Gain from change in fair value of warrant liability	351,104	918,801
Other income, net	23,322	25,568
Loss before income taxes	(1,064,455)	(1,045,038)
Benefit for income taxes	703,406	232,933
Net and comprehensive loss	$ (361,049)	$ (812,105)
Basic loss per share (in dollars per share)	$ 0	$ (0.01)
Diluted loss per share (in dollars per share)	$ (0.01)	$ (0.02)
Weighted average shares outstanding: basic (in shares)	73,070,565	76,757,010
Weighted average shares outstanding: diluted (in shares)	73,883,058	77,572,587
Product Sales and Supportive Services [Member]
Revenues
Total revenues	$ 7,320,872	$ 3,523,343
Research and Development [Member]
Revenues
Total revenues	$ 3,218,427	$ 1,290,401

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net loss	$ (361,049)	$ (812,105)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and other amortization	127,526	130,826
Gain on change in fair value of warrant liability	(351,104)	(918,801)
Stock-based compensation	368,754	246,412
Write down of inventory, net	135,471	0
Deferred income taxes, net	(1,612,534)	(28,541)
Changes in assets and liabilities:
Accounts receivable	78,311,550	(660,996)
Inventory	3,097,407	(144,852)
Prepaid expenses and other assets	241,607	419,395
Accounts payable, accrued expenses and other liabilities	(1,881,714)	(3,330,241)
Income tax payable	(18,398,271)	0
Deferred revenue	(2,971,232)	292,591
Net cash provided by/(used in) operating activities	56,706,411	(4,806,312)
Cash flows from investing activities:
Capital expenditures	0	(13,724)
Cash used in investing activities	0	(13,724)
Cash flows from financing activities:
Payment of employee tax obligations for common stock tendered	(12,533)	(13,361)
Repurchase of common stock	(6,572,783)	(6,529,348)
Cash used in financing activities	(6,585,316)	(6,542,709)
Net increase/(decrease) in cash, cash equivalents and restricted cash	50,121,095	(11,362,745)
Cash, cash equivalents and restricted cash at the beginning of period	103,138,819	117,890,240
Cash and cash equivalents at end of period	$ 153,259,914	$ 106,527,495

Note 1 - Condensed Consolidated

Note 1 - Condensed Consolidated Financial Statements	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Condensed Consolidated Financial Statements The financial statements of SIGA Technologies, Inc. (“we,” “our,” “us,” “SIGA” or the “Company”) 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, 2021 2021 10 March 3, 2022 ( "2021 10 not 2021 10 2021 not three March 31, 2022 not

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
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” March 31, 2022 Note 3 five three one March 31, 2022 not three 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 March 31, 2022 three March 31, 2022 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).

Note 3 - Procurement Contracts

Note 3 - Procurement Contracts and Research Agreements	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Procurement Contract and Research Agreements [Text Block]	3. 19C On September 10, 2018, March 31, 2022 "19C five may ten 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 March 31, 2022 December 31, 2021, March 31, 2022, March 31, 2022, first 2022. The options that have been exercised to date provide for payments up to approximately $239.7 million. There are exercised options for the following activities: payments up to $11.2 million for the procurement of raw materials used in the 2020 March 31, 2022 2021; Unexercised options specify potential payments up to approximately $311.1 million in total (if all such options are exercised). There are options for the following activities: payments of up to $225.1 million for the delivery of oral TPOXX® to the Strategic Stockpile; payments of up to $76.8 million for the manufacture of courses of IV FDP, of which up to $30.7 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 million to fund post-marketing activities for IV TPOXX®; and payments of up to approximately $5.6 million for supportive procurement activities. The options related to IV TPOXX® are divided into two may none 19C three three not 64,000 Revenues in connection with the 19C 19C three March 31, 2022 2021 three March 31, 2022 no three March 31, 2021 International Procurement Contracts On March 30, 2022, 2022. On January 13, 2021, five March 2022, 2022. March 31, 2022, first six 2021. March 31, 2023 On April 3, 2020, four second 2020, third 2021, The above-listed contract awards were coordinated between SIGA and Meridian under the international promotion agreement (as amended, the "International Promotion Agreement") that was entered into by the parties on 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 is 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 on a gross basis, as the Company acts as the principal in the transaction. During the three March 31, 2022 not three March 31, 2021 Research Agreements and Grants In July 2019, April 30, 2024. March 31, 2022 three March 31, 2022 2021 Contracts and grants include, among other things, options that may may not may not

Note 4 - Inventory

Note 4 - Inventory	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 December 31, 2021 Raw materials $ 22,047 $ 22,047 Work in-process 14,720,449 17,453,358 Finished goods 1,535,005 2,034,974 Inventory $ 16,277,501 $ 19,510,379 For the three March 31, 2022

Note 5 - Property, Plant and Eq

Note 5 - Property, Plant and Equipment	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 December 31, 2021 Leasehold improvements $ 2,420,028 $ 2,420,028 Computer equipment 473,386 511,062 Furniture and fixtures 377,859 377,859 Operating lease right-of-use assets 3,678,647 3,678,647 6,949,920 6,987,596 Less - accumulated depreciation and amortization (4,711,489 ) (4,621,639 ) Property, plant and equipment, net $ 2,238,431 $ 2,365,957 Depreciation and amortization expense on property, plant, and equipment was $0.1 million for each of the three March 31, 2022 2021

Note 6 - Accrued Expenses and O

Note 6 - Accrued Expenses and Other Current Liabilities	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 December 31, 2021 Research and development vendor costs $ 868,837 $ 256,397 Deferred revenue 793,464 3,764,696 Other 753,540 558,362 Compensation 716,680 2,811,700 Lease liability, current portion 486,752 466,830 Professional fees 457,206 527,026 Vacation 446,873 379,720 Inventory 130,068 488,081 Accrued expenses and other current liabilities $ 4,653,420 $ 9,252,812

Note 7 - Financial Instruments

Note 7 - Financial Instruments	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Financial Instruments Disclosure [Text Block]	7. Financial Instruments 2016 On September 2, 2016, 2020. September 2, 2016 ten March 31, 2022 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. Under the terms of the Warrant, in the event of a declaration of a cash dividend, the Lender is entitled to receive a cash payment that is equivalent to the dividend that would have been received if the Warrant had been fully exercised immediately prior to the dividend record date. As of March 31, 2022 As of December 31, 2021, 1.21%; no

Note 8 - Fair Value of Financia

Note 8 - Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Fair Value Disclosures [Text Block]	8. Fair Value of Financial Instruments The carrying value of cash equivalents, accounts receivable, accounts payable, accrued expenses and other current liabilities, and income tax payable 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 March 31, 2022 There were no three March 31, 2022 March 31, 2022 December 31, 2021 1 2 March 31, 2022 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, 2021 $ 6,521,441 Decrease in fair value of warrant liability (351,104 ) Exercise of warrants — Warrant liability at March 31, 2022 $ 6,170,337

Note 9 - Per Share Data

Note 9 - Per Share Data	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Earnings Per Share [Text Block]	9. 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 March 31, 2022 2021 Net loss for basic earnings per share $ (361,049 ) $ (812,105 ) Less: Gain from change in fair value of warrants 351,104 918,801 Net loss, adjusted for change in fair value of warrants for diluted earnings per share $ (712,153 ) $ (1,730,906 ) Weighted-average shares 73,070,565 76,757,010 Effect of potential common shares 812,493 815,577 Weighted-average shares: diluted 73,883,058 77,572,587 Loss per share: basic $ (0.00 ) $ (0.01 ) Loss per share: diluted $ (0.01 ) $ (0.02 ) For the three March 31, 2022 2021 Three Months Ended March 31, 2022 2021 Warrants — — Stock options 150,000 186,191 Restricted stock units (1) 325,903 163,946 ( 1 three March 31, 2022

Note 10 - Commitments and Conti

Note 10 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	10. 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 March 31, 2022 , the Company had approximat

Note 11 - Related Party Transac

Note 11 - Related Party Transactions	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	11. Related Party Transactions Board of Directors and Outside Counsel A former member of the Company’s Board of Directors who did not 2021 not three March 31, 2022 three March 31, 2021 March 31, 2022 Real Estate Leases On May 26, 2017, ten 31 62 nd first sixty-three first six first sixty-fourth first second five three March 31, 2022

Note 12 - Income Taxes

Note 12 - Income Taxes	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Income Tax Disclosure [Text Block]	12. 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. For the three March 31, 2022 2021 The effective tax rate for the three March 31, 2022 three March 31, 2021 three March 31, 2022 162

Note 13 - Equity

Note 13 - Equity	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	13. The tables below present changes in stockholders' equity for the three March 31, 2022 2021 Common Stock Additional Paid-in Accumulated Other Comprehensive Total Stockholders' Shares Amount Capital Deficit Income Equity Balances at December 31, 2021 73,543,602 $ 7,354 $ 226,070,308 $ (51,763,255 ) $ — $ 174,314,407 Net loss — — (361,049 ) — (361,049 ) Repurchase of common stock (979,802 ) (98 ) — (6,572,685 ) — (6,572,783 ) Payment of common stock tendered for employee stock-based compensation tax obligations (1,973 ) — (12,533 ) — — (12,533 ) Issuance of common stock upon vesting of RSUs 4,540 — — — — — Stock-based compensation — — 368,754 — — 368,754 Balances at March 31, 2022 72,566,367 $ 7,256 $ 226,426,529 $ (58,696,989 ) $ — $ 167,736,796 Common Stock Additional Paid-in Accumulated Other Comprehensive Total Stockholders' Shares Amount Capital Deficit Income Equity Balances at December 31, 2020 77,195,704 $ 7,720 $ 224,978,430 $ (95,192,881 ) $ — $ 129,793,269 Net loss — — — (812,105 ) — (812,105 ) Repurchase of common stock (957,905 ) (95 ) — (6,529,253 ) — (6,529,348 ) Payment of common stock tendered for employee stock-based compensation tax obligations (1,902 ) — (13,361 ) — — (13,361 ) Issuance of common stock upon vesting of RSUs 4,542 — — — — — Stock-based compensation — — 246,412 — — 246,412 Balances at March 31, 2021 76,240,439 $ 7,625 $ 225,211,481 $ (102,534,239 ) $ — $ 122,684,867 On August 2, 2021, may December 31, 2023. fourth 2021. may may 10b5 1 1934, three March 31, 2022 Prior to the effective date of the New Repurchase Authorization, the Company repurchased shares under a program that was announced in March 2020. three March 31, 2021

Note 14 - Leases

Note 14 - Leases	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	14. 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. second 2021, second December 31, 2024. second second 2021. On May 26, 2017 ten no Operating lease costs totaled $0.1 million for each of the three March 31, 2022 2021 three March 31, 2022 2021 March 31, 2022 Future cash flows under operating leases as of March 31, 2022 2022 $ 425,980 2023 669,048 2024 678,627 2025 406,994 2026 409,971 Thereafter 165,916 Total undiscounted cash flows under leases 2,756,536 Less: Imputed interest (280,210 ) Present value of lease liabilities $ 2,476,326 As of March 31, 2022

Note 15 - Subsequent Event

Note 15 - Subsequent Event	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Subsequent Events [Text Block]	15. On May 5, 2022, June 2, 2022 May 17, 2022.

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
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” March 31, 2022 Note 3 five three one March 31, 2022 not three 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 March 31, 2022 three March 31, 2022
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).

Note 4 - Inventory (Tables)

Note 4 - Inventory (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Schedule of Inventory, Current [Table Text Block]	As of March 31, 2022 December 31, 2021 Raw materials $ 22,047 $ 22,047 Work in-process 14,720,449 17,453,358 Finished goods 1,535,005 2,034,974 Inventory $ 16,277,501 $ 19,510,379

Note 5 - Property, Plant and _2

Note 5 - Property, Plant and Equipment (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Property, Plant and Equipment [Table Text Block]	As of March 31, 2022 December 31, 2021 Leasehold improvements $ 2,420,028 $ 2,420,028 Computer equipment 473,386 511,062 Furniture and fixtures 377,859 377,859 Operating lease right-of-use assets 3,678,647 3,678,647 6,949,920 6,987,596 Less - accumulated depreciation and amortization (4,711,489 ) (4,621,639 ) Property, plant and equipment, net $ 2,238,431 $ 2,365,957

Note 6 - Accrued Expenses and_2

Note 6 - Accrued Expenses and Other Current Liabilities (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Accrued Expenses and Other Current Liabilities [Table Text Block]	As of March 31, 2022 December 31, 2021 Research and development vendor costs $ 868,837 $ 256,397 Deferred revenue 793,464 3,764,696 Other 753,540 558,362 Compensation 716,680 2,811,700 Lease liability, current portion 486,752 466,830 Professional fees 457,206 527,026 Vacation 446,873 379,720 Inventory 130,068 488,081 Accrued expenses and other current liabilities $ 4,653,420 $ 9,252,812

Note 8 - Fair Value of Financ_2

Note 8 - Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2022
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, 2021 $ 6,521,441 Decrease in fair value of warrant liability (351,104 ) Exercise of warrants — Warrant liability at March 31, 2022 $ 6,170,337

Note 9 - Per Share Data (Tables

Note 9 - Per Share Data (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended March 31, 2022 2021 Net loss for basic earnings per share $ (361,049 ) $ (812,105 ) Less: Gain from change in fair value of warrants 351,104 918,801 Net loss, adjusted for change in fair value of warrants for diluted earnings per share $ (712,153 ) $ (1,730,906 ) Weighted-average shares 73,070,565 76,757,010 Effect of potential common shares 812,493 815,577 Weighted-average shares: diluted 73,883,058 77,572,587 Loss per share: basic $ (0.00 ) $ (0.01 ) Loss per share: diluted $ (0.01 ) $ (0.02 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Three Months Ended March 31, 2022 2021 Warrants — — Stock options 150,000 186,191 Restricted stock units (1) 325,903 163,946

Note 13 - Equity (Tables)

Note 13 - Equity (Tables)	3 Months Ended
	Mar. 31, 2022
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 December 31, 2021 73,543,602 $ 7,354 $ 226,070,308 $ (51,763,255 ) $ — $ 174,314,407 Net loss — — (361,049 ) — (361,049 ) Repurchase of common stock (979,802 ) (98 ) — (6,572,685 ) — (6,572,783 ) Payment of common stock tendered for employee stock-based compensation tax obligations (1,973 ) — (12,533 ) — — (12,533 ) Issuance of common stock upon vesting of RSUs 4,540 — — — — — Stock-based compensation — — 368,754 — — 368,754 Balances at March 31, 2022 72,566,367 $ 7,256 $ 226,426,529 $ (58,696,989 ) $ — $ 167,736,796 Common Stock Additional Paid-in Accumulated Other Comprehensive Total Stockholders' Shares Amount Capital Deficit Income Equity Balances at December 31, 2020 77,195,704 $ 7,720 $ 224,978,430 $ (95,192,881 ) $ — $ 129,793,269 Net loss — — — (812,105 ) — (812,105 ) Repurchase of common stock (957,905 ) (95 ) — (6,529,253 ) — (6,529,348 ) Payment of common stock tendered for employee stock-based compensation tax obligations (1,902 ) — (13,361 ) — — (13,361 ) Issuance of common stock upon vesting of RSUs 4,542 — — — — — Stock-based compensation — — 246,412 — — 246,412 Balances at March 31, 2021 76,240,439 $ 7,625 $ 225,211,481 $ (102,534,239 ) $ — $ 122,684,867

Note 14 - Leases (Tables)

Note 14 - Leases (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	2022 $ 425,980 2023 669,048 2024 678,627 2025 406,994 2026 409,971 Thereafter 165,916 Total undiscounted cash flows under leases 2,756,536 Less: Imputed interest (280,210 ) Present value of lease liabilities $ 2,476,326

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies (Details Textual) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)
Revenue, Remaining Performance Obligation, Amount	$ 59.9
Contract with Customer, Asset, after Allowance for Credit Loss, Total	1.3
Contract with Customer, Liability, Revenue Recognized	$ 2.9

Note 3 - Procurement Contract_2

Note 3 - Procurement Contracts and Research Agreements (Details Textual) $ in Thousands	Jan. 13, 2021USD ($)	Apr. 03, 2020USD ($)	Mar. 31, 2022USD ($)	Sep. 30, 2021USD ($)	Jun. 30, 2021USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)	Mar. 31, 2023USD ($)	Mar. 30, 2022USD ($)	Dec. 31, 2020USD ($)	May 31, 2020USD ($)	Jul. 31, 2019USD ($)	Sep. 10, 2018USD ($)
Contract with Customer, Liability, Revenue Recognized			$ 2,900
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
Base Period of Performance (Year)			5 years
Government Contract, Value, Payments Remaining Related to Exercised Options			$ 239,700
Government Contract, Value, Payments Currently Specified as Unexercised Options			$ 311,100
Base Period of Performance, Exercise of Options, Term (Year)			10 years
Government Contract, Base Period, Value of Award for Delivery and Support Activities, Delivery of Courses													$ 11,100
Government Contract, Base Period, Number of Deliveries													35,700
Government Contract, Base Period, Value of Award for Delivery and Support Activities, Manufacture of Courses													$ 8,000
Government Contract, Base Period, Value of Award for Delivery and Support Activities, Advanced Development													32,000
Government Contract, Base Period, Value of Award for Delivery and Support Activities, Supportive Procurement Activities													$ 600
Proceeds from Delivery of Courses			$ 11,100
Number of Courses Delivered			35,700
Proceeds from Other Base Period Activities			$ 14,300
Government Contract, Value of Unexercised Options, Supportive Procurement Activities			5,600
The 19C BARDA Contract [Member] | IV TPOXX [Member]
Government Contract, Base Period, Number of Courses Manufactured													20,000
Government Contract, Value, Payments Related to Unexercised Options, Delivery of Courses			225,100
Government Contract, Value, Payments Related to Unexercised Options, Funding of Post-Marketing Activities			$ 3,600
Number of Manufacturing Steps			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
Proceeds from the Manufacture of Courses			$ 3,200
Contract with Customer, Liability, Total							$ 3,200
Contract with Customer, Liability, Revenue Recognized			2,900
Government Contract, Value, Payments Currently Specified as Unexercised Options, Manufacture of Courses			$ 30,700
Government Contract, Number of Options for Manufacture of Product			3
Government Contract, Courses Manufactured Upon Exercise of Options			64,000
The 19C BARDA Contract [Member] | IV FDP [Member]
Proceeds from the Manufacture of Courses			$ 1,100
Contract with Customer, Liability, Total			300
Contract with Customer, Receivable, after Allowance for Credit Loss, Total			3,200
Government Contract, Value, Payments Currently Specified as Unexercised Options, Manufacture of Courses			$ 76,800
Government Contract, Number of Options for Manufacture of Product			3
Government Contract, Courses Manufactured Upon Exercise of Options			64,000
The 19C BARDA Contract [Member] | Oral TPOXX [Member]
Number of Courses to Be Delivered										726,140
Government Contract, Value, Payments Related to Exercised Options, Procurement of Raw Materials			$ 225,100							$ 11,200
Government Contract, Value, Payments Related to Exercised Options, Delivery of Courses										213,900
Government Contract, Value, Payments Related to Exercised Options, Funding of Post-Marketing Activities										$ 14,600
Proceeds for the Procurement of Raw Materials							112,500
Proceeds from Payments Received for Post-marketing Activities			7,500
IC BARDA [Member] | Transferred over Time [Member]
Contract with Customer, Liability, Revenue Recognized			700			$ 800
IC BARDA [Member] | Transferred at Point in Time [Member]
Contract with Customer, Liability, Revenue Recognized			7,200			0
Meridian Contract [Member] | Oral TPOXX [Member]
Government Contract, Value of Award	$ 33,000
Contract with Customer, Liability, Revenue Recognized							10,000
Government Contract, Value of Courses Ordered									$ 2,800
Government Contract, Term (Year)	5 years
Government Contract, Increased Value of Award							$ 38,000
Government Contract, Award, Target Delivery Amount			13,000
Meridian Contract [Member] | Oral TPOXX [Member] | Forecast [Member]
Government Contract, Award, Target Delivery Amount								$ 15,000
Canadian Contract [Member] | Meridian Medical Technologies [Member]
Contract with Customer, Liability, Revenue Recognized			0			3,400
Government Contract, Term (Year)		4 years
Other Commitment, Total		$ 14,000
Canadian Contract [Member] | Meridian Medical Technologies [Member] | Purchases from Q2 of 2020 [Member]
Contract with Customer, Liability, Revenue Recognized					$ 2,000
Canadian Contract [Member] | Meridian Medical Technologies [Member] | Purchases from Q3 of 2021 [Member]
Contract with Customer, Liability, Revenue Recognized				$ 2,000
The PEP Label Expansion R & D Contract with the Department of Defense [Member]
Government Contract, Value of Award											$ 26,000	$ 19,500
Contract with Customer, Liability, Revenue Recognized			2,300			$ 100
Government Contract, Initial Award												$ 12,400
Government Contract, Future Aggregate Research and Development Funding			$ 21,900

Note 4 - Inventory (Details Tex

Note 4 - Inventory (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Inventory Write-down, Net of Credits	$ 135,471	$ 0
Inventory Write-down	$ 200,000

Note 4 - Inventory - Inventory

Note 4 - Inventory - Inventory (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Raw materials	$ 22,047	$ 22,047
Work in-process	14,720,449	17,453,358
Finished goods	1,535,005	2,034,974
Inventory	$ 16,277,501	$ 19,510,379

Note 5 - Property, Plant and _3

Note 5 - Property, Plant and Equipment (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Depreciation, Depletion and Amortization, Total	$ 127,526	$ 130,826

Note 5 - Property, Plant and _4

Note 5 - Property, Plant and Equipment - Property, Plant and Equipment (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Property, plant and equipment, gross	$ 6,949,920	$ 6,987,596
Less - accumulated depreciation and amortization	(4,711,489)	(4,621,639)
Property, plant and equipment, net	2,238,431	2,365,957
Other Assets [Member]
Property, plant and equipment, gross	3,678,647	3,678,647
Leasehold Improvements [Member]
Property, plant and equipment, gross	2,420,028	2,420,028
Computer Equipment [Member]
Property, plant and equipment, gross	473,386	511,062
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 ($)	Mar. 31, 2022	Dec. 31, 2021
Research and development vendor costs	$ 868,837	$ 256,397
Deferred revenue	793,464	3,764,696
Other	753,540	558,362
Compensation	716,680	2,811,700
Professional fees	457,206	527,026
Vacation	446,873	379,720
Inventory	130,068	488,081
Accrued expenses and other current liabilities	4,653,420	9,252,812
Accrued Expenses and Other Current Liabilities [Member]
Lease liability, current portion	$ 486,752	$ 466,830

Note 7 - Financial Instruments

Note 7 - Financial Instruments (Details Textual) $ / shares in Units, shares in Millions	Mar. 31, 2022USD ($)shares	Dec. 31, 2021USD ($)	Sep. 02, 2016USD ($)$ / sharesshares
Warrants and Rights Outstanding | $	$ 6,170,337	$ 6,521,441
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, Number of Securities Called by Warrants or Rights (in shares) | shares	1		2.7
Warrants and Rights Outstanding | $	$ 6,200,000	$ 6,500,000
The 2016 Warrant [Member] | Measurement Input, Risk Free Interest Rate [Member]
Warrants and Rights Outstanding, Measurement Input	0.0243	0.0121
The 2016 Warrant [Member] | Measurement Input, Expected Dividend Rate [Member]
Warrants and Rights Outstanding, Measurement Input	0	0
The 2016 Warrant [Member] | Measurement Input, Expected Term [Member]
Warrants and Rights Outstanding, Measurement Input	4.4	4.7
The 2016 Warrant [Member] | Measurement Input, Price Volatility [Member]
Warrants and Rights Outstanding, Measurement Input	0.60	0.55

Note 8 - Fair Value of Financ_3

Note 8 - Fair Value of Financial Instruments (Details Textual) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Warrants and Rights Outstanding	$ 6,170,337	$ 6,521,441
Fair Value, Inputs, Level 1 [Member]
Cash and Cash Equivalents, Fair Value Disclosure	100,000	100,000
Fair Value, Inputs, Level 2 [Member]
Cash and Cash Equivalents, Fair Value Disclosure	0
The 2016 Warrant [Member]
Warrants and Rights Outstanding	$ 6,200,000	$ 6,500,000

Note 8 - Fair Value of Financ_4

Note 8 - Fair Value of Financial Instruments - Changes in the Liability-classified Warrant Measured at Fair Value (Details)	3 Months Ended
	Mar. 31, 2022USD ($)
Warrant liability	$ 6,521,441
Decrease in fair value of warrant liability	(351,104)
Exercise of warrants	0
Warrant liability	$ 6,170,337

Note 9 - Per Share Data (Detail

Note 9 - Per Share Data (Details Textual)	3 Months Ended
	Mar. 31, 2022shares
Restricted Stock Units Expected to Settle in Cash [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	54,792

Note 9 - Per Share Data - Recon

Note 9 - Per Share Data - Reconciliation of the Basic and Diluted Loss Per Share (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net loss	$ (361,049)	$ (812,105)
Less: Gain from change in fair value of warrants	351,104	918,801
Net loss, adjusted for change in fair value of warrants for diluted earnings per share	$ (712,153)	$ (1,730,906)
Weighted average shares outstanding: basic (in shares)	73,070,565	76,757,010
Effect of potential common shares (in shares)	812,493	815,577
Weighted-average shares: diluted (in shares)	73,883,058	77,572,587
Basic loss per share (in dollars per share)	$ 0	$ (0.01)
Diluted loss per share (in dollars per share)	$ (0.01)	$ (0.02)

Note 9 - Per Share Data - Antid

Note 9 - Per Share Data - Antidilutive Securities Excluded from Computation (Details) - shares		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Warrant [Member]
Antidilutive securities (in shares)		0	0
Share-Based Payment Arrangement, Option [Member]
Antidilutive securities (in shares)		150,000	186,191
Restricted Stock Units (Stock Settled) [Member]
Antidilutive securities (in shares)	[1]	325,903	163,946
[1]	For the three months ended March 31, 2022, this includes 54,792 units which are expected to settle in cash.

Note 10 - Commitments and Con_2

Note 10 - Commitments and Contingencies (Details Textual) $ in Millions	Mar. 31, 2022USD ($)
Purchase Commitment, Remaining Minimum Amount Committed	$ 22.7

Note 11 - Related Party Trans_2

Note 11 - Related Party Transactions (Details Textual)	May 26, 2017USD ($)ft²	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)
Outside Counsel [Member]
Legal Fees		$ 0	$ 100,000
Accounts Payable, Related Parties		0
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

Note 12 - Income Taxes (Details

Note 12 - Income Taxes (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income (Loss) Attributable to Parent, before Tax, Total	$ (1,100,000)	$ (1,000,000)
Income Tax Expense (Benefit), Total	$ (703,406)	$ (232,933)
Effective Income Tax Rate Reconciliation, Percent, Total	66.10%	22.30%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%

Note 13 - Equity (Details Textu

Note 13 - Equity (Details Textual) - USD ($) shares in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Aug. 02, 2021	Mar. 05, 2020
Stock Repurchase Program, Authorized Amount				$ 50,000,000
Stock Repurchased During Period, Shares (in shares)	1
Stock Repurchased During Period, Value	$ 6,572,783	$ 6,529,348
New Repurchase Authorization [Member]
Stock Repurchase Program, Authorized Amount			$ 50,000,000
Stock Repurchased During Period, Shares (in shares)	1
Stock Repurchased During Period, Value	$ 6,500,000

Note 13 - Equity - Changes in S

Note 13 - Equity - Changes in Stockholders' Equity (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Balances	$ 174,314,407	$ 129,793,269
Net income (loss)	$ (361,049)	(812,105)
Repurchase of common stock (in shares)	(1,000,000)
Repurchase of common stock	$ (6,572,783)	(6,529,348)
Payment of common stock tendered for employee stock-based compensation tax obligations	(12,533)	(13,361)
Issuance of common stock upon vesting of RSUs	0	0
Stock-based compensation	368,754	246,412
Balances	$ 167,736,796	$ 122,684,867
Common Stock [Member]
Balances (in shares)	73,543,602	77,195,704
Balances	$ 7,354	$ 7,720
Net income (loss)	$ 0	$ 0
Repurchase of common stock (in shares)	(979,802)	(957,905)
Repurchase of common stock	$ (98)	$ (95)
Payment of common stock tendered for employee stock-based compensation tax obligations (in shares)	(1,973)	(1,902)
Payment of common stock tendered for employee stock-based compensation tax obligations	$ 0	$ 0
Issuance of common stock upon vesting of RSUs (in shares)	4,540	4,542
Issuance of common stock upon vesting of RSUs	$ 0	$ 0
Stock-based compensation	$ 0	$ 0
Balances (in shares)	72,566,367	76,240,439
Balances	$ 7,256	$ 7,625
Additional Paid-in Capital [Member]
Balances	226,070,308	224,978,430
Net income (loss)	0	0
Repurchase of common stock	0	0
Payment of common stock tendered for employee stock-based compensation tax obligations	(12,533)	(13,361)
Issuance of common stock upon vesting of RSUs	0	0
Stock-based compensation	368,754	246,412
Balances	226,426,529	225,211,481
Retained Earnings [Member]
Balances	(51,763,255)	(95,192,881)
Net income (loss)	(361,049)	(812,105)
Repurchase of common stock	(6,572,685)	(6,529,253)
Payment of common stock tendered for employee stock-based compensation tax obligations	0	0
Issuance of common stock upon vesting of RSUs	0	0
Stock-based compensation	0	0
Balances	(58,696,989)	(102,534,239)
AOCI Attributable to Parent [Member]
Balances	0	0
Net income (loss)	0	0
Repurchase of common stock	0	0
Payment of common stock tendered for employee stock-based compensation tax obligations	0	0
Issuance of common stock upon vesting of RSUs	0	0
Stock-based compensation	0	0
Balances	$ 0	$ 0

Note 14 - Leases (Details Textu

Note 14 - Leases (Details Textual)	3 Months Ended				12 Months Ended
	Mar. 31, 2022USD ($)	Sep. 30, 2021USD ($)	Jun. 30, 2021USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2019	May 26, 2017ft²
Operating Lease, Cost	$ 100,000			$ 100,000
Operating Lease, Payments	$ 200,000	$ 100,000
Operating Lease, Weighted Average Remaining Lease Term (Year)	4 years 3 months 29 days
Operating Lease, Weighted Average Discount Rate, Percent	4.53%
Operating Lease, Liability, Total	$ 2,476,326
Other Liabilities [Member]
Operating Lease, Liability, Total	$ 2,000,000
Facilities and Office Space in Corvallis Oregon [Member]
Lessee, Operating Lease, First Renewal Term (Year)					2 years
Lessee, Operating Lease, Second Renewal Term (Year)					3 years
Increase (Decrease) in Operating Lease Liability			$ 700,000
The New HQ Lease [Member] | MacAndrews and Forbes Incorporated [Member]
Lessee, Operating Lease, Term of Contract (Year)						10 years
Area of Real Estate Property (Square Foot) | ft²						3,200

Note 14 - Leases - Future Undis

Note 14 - Leases - Future Undiscounted Cash Flows Under Operating Leases (Details)	Mar. 31, 2022USD ($)
2022	$ 425,980
2023	669,048
2024	678,627
2025	406,994
2026	409,971
Thereafter	165,916
Total undiscounted cash flows under leases	2,756,536
Less: Imputed interest	(280,210)
Present value of lease liabilities	$ 2,476,326

Note 15 - Subsequent Event (Det

Note 15 - Subsequent Event (Details Textual)	May 05, 2022$ / shares
Special Dividend [Member] | Subsequent Event [Member]
Common Stock, Dividends, Per Share, Declared (in dollars per share)	$ 0.45