CervoMed (CRVO) 10-Q 7 Aug 20 2020 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Aug. 05, 2020
Document Information [Line Items]
Entity Registrant Name	Diffusion Pharmaceuticals Inc.
Entity Central Index Key	0001053691
Trading Symbol	dffn
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding (in shares)		63,998,298
Entity Shell Company	false
Document Type	10-Q
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Amendment Flag	false
Title of 12(b) Security	Common Stock, par value $0.001 per share

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 25,561,599	$ 14,177,349
Prepaid expenses, deposits and other current assets	1,147,174	472,464
Total current assets	26,708,773	14,649,813
Property and equipment, net	198,325	252,366
Intangible asset	8,639,000	8,639,000
Right of use asset	194,879	247,043
Other assets	252,149	322,301
Total assets	35,993,126	24,110,523
Current liabilities:
Accounts payable	1,354,948	1,251,412
Accrued expenses and other current liabilities	317,075	358,532
Current operating lease liability	109,808	111,477
Total current liabilities	1,781,831	1,721,421
Deferred income taxes	1,249,569	2,119,274
Noncurrent operating lease liability	85,071	135,566
Total liabilities	3,116,471	3,976,261
Commitments and Contingencies (Note 7)
Stockholders’ Equity:
Common stock, $0.001 par value: 1,000,000,000 shares authorized; 63,998,298 and 33,480,365 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively	63,999	33,481
Additional paid-in capital	130,220,772	111,824,859
Accumulated deficit	(97,408,116)	(91,724,078)
Total stockholders' equity	32,876,655	20,134,262
Total liabilities and stockholders' equity	$ 35,993,126	$ 24,110,523

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	63,998,298	33,480,365
Common stock, shares outstanding (in shares)	63,998,298	33,480,365

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Operating expenses:
Research and development	$ 2,173,183	$ 1,518,381	$ 3,707,650	$ 3,218,226
General and administrative	1,458,257	1,068,452	2,852,065	2,269,180
Depreciation	27,021	34,390	54,041	52,662
Loss from operations	3,658,461	2,621,223	6,613,756	5,540,068
Other income:
Interest income	(25,913)	(16,921)	(60,013)	(37,605)
Loss from operations before income tax benefit	(3,632,548)	(2,604,302)	(6,553,743)	(5,502,463)
Income tax benefit	(507,325)	(108,904)	(869,705)	(259,256)
Net loss	(3,125,223)	(2,495,398)	(5,684,038)	(5,243,207)
Deemed dividend arising from warrant exchange	(1,950,378)		(1,950,378)
Net loss attributable to common stockholders	$ (5,075,601)	$ (2,495,398)	$ (7,634,416)	$ (5,243,207)
Per share information:
Net loss per share of common stock, basic and diluted (in dollars per share)	$ (0.10)	$ (0.63)	$ (0.18)	$ (1.43)
Weighted average shares outstanding, basic and diluted (in dollars per share)	$ 51,978,286	$ 3,940,684	$ 43,242,891	$ 3,658,457

Consolidated Statement of Chang

Consolidated Statement of Changes in Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2018	3,376,230
Balance at Dec. 31, 2018	$ 3,377	$ 95,532,881	$ (79,924,699)	$ 15,611,559
Issuance of common stock and warrants, net of issuance costs (in shares)	1,317,060
Issuance of common stock and warrants, net of issuance costs	$ 1,317	5,567,633		5,568,950
Stock-based compensation expense		240,284		240,284
Net loss			(5,243,207)	(5,243,207)
Balance (in shares) at Jun. 30, 2019	4,693,290
Balance at Jun. 30, 2019	$ 4,694	101,340,798	(85,167,906)	16,177,586
Balance (in shares) at Mar. 31, 2019	3,376,230
Balance at Mar. 31, 2019	$ 3,377	95,624,085	(82,672,508)	12,954,954
Issuance of common stock and warrants, net of issuance costs (in shares)	1,317,060
Issuance of common stock and warrants, net of issuance costs	$ 1,317	5,567,633		5,568,950
Stock-based compensation expense		149,080		149,080
Net loss			(2,495,398)	(2,495,398)
Balance (in shares) at Jun. 30, 2019	4,693,290
Balance at Jun. 30, 2019	$ 4,694	101,340,798	(85,167,906)	16,177,586
Balance (in shares) at Dec. 31, 2019	33,480,365
Balance at Dec. 31, 2019	$ 33,481	111,824,859	(91,724,078)	20,134,262
Issuance of common stock and warrants, net of issuance costs (in shares)	11,428,572
Issuance of common stock and warrants, net of issuance costs	$ 11,429	10,330,202		10,341,631
Stock-based compensation expense		304,824		304,824
Net loss			(5,684,038)	(5,684,038)
Issuance of common stock upon exercise of warrants (in shares)	19,089,361
Issuance of common stock upon exercise of warrants	$ 19,089	7,760,887		7,779,976
Balance (in shares) at Jun. 30, 2020	63,998,298
Balance at Jun. 30, 2020	$ 63,999	130,220,772	(97,408,116)	32,876,655
Balance (in shares) at Mar. 31, 2020	34,604,436
Balance at Mar. 31, 2020	$ 34,605	112,149,913	(94,282,893)	17,901,625
Issuance of common stock and warrants, net of issuance costs (in shares)	11,428,572
Issuance of common stock and warrants, net of issuance costs	$ 11,429	10,330,202		10,341,631
Stock-based compensation expense		113,444		113,444
Net loss			(3,125,223)	(3,125,223)
Issuance of common stock upon exercise of warrants (in shares)	17,965,290
Issuance of common stock upon exercise of warrants	$ 17,965	7,627,213		7,645,178
Balance (in shares) at Jun. 30, 2020	63,998,298
Balance at Jun. 30, 2020	$ 63,999	$ 130,220,772	$ (97,408,116)	$ 32,876,655

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Operating activities:
Net loss	$ (5,684,038)	$ (5,243,207)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	54,041	52,662
Stock-based compensation expense	304,824	240,284
Change in deferred income taxes	(869,705)	(259,256)
Changes in operating assets and liabilities:
Prepaid expenses, deposits and other assets	(604,558)	(106,390)
Accounts payable, accrued expenses and other liabilities	151,411	48,320
Net cash used in operating activities	(6,648,025)	(5,267,587)
Cash flows provided by financing activities:
Proceeds from the sale of common stock	10,827,100	5,731,779
Proceeds from the exercise of common stock warrants	8,038,603
Payment of financing costs	(833,428)	(82,623)
Net cash provided by financing activities	18,032,275	5,649,156
Net increase in cash and cash equivalents	11,384,250	381,569
Cash and cash equivalents at beginning of period	14,177,349	7,991,172
Cash and cash equivalents at end of period	25,561,599	8,372,741
Supplemental disclosure of non-cash investing and financing activities:
Offering costs in accounts payable	148,900	80,206
Operating lease right of use asset and current and noncurrent liability		$ 334,205

Note 1 - Organization and Descr

Note 1 - Organization and Description of Business	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Nature of Operations [Text Block]	1. Organization and Description of Business Diffusion Pharmaceuticals Inc. (“Diffusion” or the “Company”), a Delaware corporation, is a clinical stage biotechnology company developing new treatments for life-threatening conditions by improving the body's ability to bring oxygen to the areas where it is needed most. The Company is developing its lead product candidate, transcrocetinate sodium, also known as trans sodium crocetinate (“TSC”), for use in those life-threatening conditions in which cellular oxygen deprivation (“hypoxia”) is the basis for significant unmet medical needs. TSC is designed to safely and selectively target and re-oxygenate the micro-environment of hypoxic cells, with potential uses in many indications, including COVID- 19, The Company intends to begin first Q3 2020 19 424 19 19 In stroke, TSC helps promote the diffusion of oxygen into those brain cells in which oxygen-deprivation causes neuronal death resulting in patient mortality or morbidity. In cancer, TSC re-oxygenates treatment-resistant cancerous tissue, making the cancer cells up to three In addition to the TSC programs, the Company is exploring alternatives regarding how best to capitalize upon our product candidate RES- 529, may 529 PI3K/Akt/mTOR two 1 529

Note 2 - Liquidity

Note 2 - Liquidity	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Liquidity Disclosure [Text Block]	2. Liquidity The Company has not No The Company regularly explores alternative means of financing its operations and seeks funding through various sources, including public and private securities offerings, collaborative arrangements with third not may third may not Operations of the Company are subject to certain risks and uncertainties including various internal and external factors that will affect whether and when the Company's product candidates become approved drugs and how significant their market share will be, some of which are outside of the Company's control. The length of time and cost of developing and commercializing these product candidates and/or failure of them at any stage of the drug approval process will materially affect the Company's financial condition and future operations. The Company believes its cash and cash equivalents as of June 30, 2020 fourth 2021.

Note 3 - Basis of Presentation

Note 3 - Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Significant Accounting Policies [Text Block]	3. Basis of Presentation and Summary of Significant Accounting Policies The Summary of Significant Accounting Policies included in the Company's Form 10 December 31, 2019, March 17, 2020 not Basis of Presentation The accompanying unaudited interim consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information as found in the Accounting Standard Codification (“ASC”) and Accounting Standards Updates (“ASUs”) of the Financial Accounting Standards Board (“FASB”), and with the instructions to Form 10 10 X June 30, 2020, three six June 30, 2020 2019 six June 30, 2020 2019. six June 30, 2020 not may December 31, 2020. not December 31, 2019 10 March 17, 2020. Use of Estimates The preparation of the unaudited interim consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of assets and liabilities at the date the financial statements and reported amounts of expense during the reporting period. The full extent to which the COVID- 19 may 19, 19 19 no June 30, 2020. may 19, DIFFUSION PHARMACEUTICALS INC. NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS Fair Value of Financial Instruments Fair value is the price that could be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Fair value determination in accordance with applicable accounting guidance requires that a number of significant judgments be made. Additionally, fair value is used on a nonrecurring basis to evaluate assets for impairment or as required for disclosure purposes by applicable accounting guidance on disclosures about fair value of financial instruments. Depending on the nature of the assets and liabilities, various valuation techniques and assumptions are used when estimating fair value. The carrying amounts of certain of the Company's financial instruments, including cash equivalents and accounts payable are shown at cost, which approximates fair value due to the short-term nature of these instruments. The Company follows the provisions of FASB ASC Topic 820, Fair Value Measurement one three • Level 1: • Level 2: not • Level 3: no The following fair value hierarchy table presents information about the Company's cash equivalents measured at fair value on a recurring basis: March 31, 2020 (Level 1) (Level 2) (Level 3) Assets Cash equivalents $ 25,383,744 $ — $ — December 31, 2019 (Level 1) (Level 2) (Level 3) Assets Cash equivalents $ 14,006,193 $ — $ — Intangible Asset The Company's RES- 529 October 1 no 529 three six June 30, 2020 2019. DIFFUSION PHARMACEUTICALS INC. NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS Net Loss Per Common Share Basic net loss per share is computed by dividing net loss attributable to common stockholders by the weighted average number of shares of common stock outstanding during each period. Diluted net loss per share includes the effect, if any, from the potential exercise or conversion of securities, such as convertible debt, convertible preferred stock, common stock warrants, stock options and unvested restricted stock that would result in the issuance of incremental shares of common stock. In computing the basic and diluted net loss per share applicable to common stockholders, the weighted average number of shares remains the same for both calculations due to the fact that when a net loss exists, dilutive shares are not The following potentially dilutive securities outstanding as of June 30, 2020 2019 Six Months Ended June 30, 2020 2019 Common stock warrants 9,117,209 3,469,925 Stock options 1,427,829 309,276 Unvested restricted stock awards 98,100 — 10,643,138 3,779,201 Recently Adopted Accounting Pronouncements In August 2018, 2018 13, Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurements, 820. 820's No. 2018 13 first 2020 not

Note 4 - Accrued Expenses and O

Note 4 - Accrued Expenses and Other Current Liabilities	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]	4. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following: June 30, 2020 December 31, 2019 Accrued payroll and payroll related expenses 252,194 182,708 Accrued professional fees — 48,338 Accrued clinical studies expenses 52,705 57,378 Other accrued expenses 12,176 70,108 Total $ 317,075 $ 358,532

Note 5 - Stockholders' Equity a

Note 5 - Stockholders' Equity and Common Stock Warrants	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	5. Stockholders' Equity and Common Stock Warrants 2020 In May 2020, “May 2020 11,428,572 $1.05 $10.3 May 2020 571,429 May 2020 $1.3125 five Additionally, in May 2020, “May 2020 5,000,000 $0.35 $0.125 5,000,000 $0.5263 November 8, 2025. $2.0 three June 30, 2020 In connection with the May 2020 250,000 $0.5938 Common Stock Warrants As of June 30, 2020, Outstanding Range of exercise price per shar Expiration dates Common stock warrants issued in 2017 related to Series A convertible preferred stock offering 903,870 $33.30 March 2022 Common stock warrants issued in 2018 related to the common stock offering 1,181,375 $12.00 - $15.00 January 2023 Common stock warrants issued related to the May 2019 offering 1,382,913 $5.00 - $6.11875 November 2024 Common stock warrants issued related to the November 2019 offering 514,283 $0.35 - $0.4375 May 2024 Common stock warrants issued related to the December 2019 offering 313,339 $0.6981 December 2024 Common stock warrants issued related to the May 2020 offering 571,429 $1.3125 May 2025 Common stock warrants issued related to May 2020 investor warrant exercise 4,250,000 $0.5263 - $0.5938 November 2025 9,117,209 During the six June 30, 2020, no 19,089,361 19,089,361 $7.8

Note 6 - Stock-based Compensati

Note 6 - Stock-based Compensation	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	6. Stock-Based Compensation 2015 The Diffusion Pharmaceuticals Inc. 2015 "2015 January 1 4.0% December 31, 1,339,215 January 1, 2020, may 2015 June 30, 2020, 142,302 2015 The Company recorded stock-based compensation expense in the following expense categories of its unaudited interim consolidated statements of operations for the periods indicated: Three Months Ended June 30, Six Months Ended 2020 2019 2020 2019 Research and development $ 91,896 $ 13,577 $ 188,426 $ 27,173 General and administrative 21,548 135,503 116,398 213,111 Total stock-based compensation expense $ 113,444 $ 149,080 $ 304,824 $ 240,284 The following table summarizes the activity related to all stock options for the six June 30, 2020: Number of Options Weighted average exercise price per share Weighted average remaining contractual life (in years) Balance at January 1, 2020 309,276 $ 55.78 Granted 1,118,700 0.58 Expired (147 ) 142.50 Outstanding at June 30, 2020 1,427,829 $ 12.53 8.9 Exercisable at June 30, 2020 660,504 $ 26.17 8.2 The weighted average grant date fair value of stock option awards granted was $0.46 six June 30, 2020. No June 30, 2020, $0.5 1.5 Options granted were valued using the Black-Scholes option-pricing model and the weighted average assumptions used to value the options granted during the six June 30, 2020 2020 Expected term (in years) 5.59 Risk-free interest rate 1.3 % Expected volatility 115.1 % Dividend yield — % Restricted Stock Awards During the six June 30, 2020, 98,100 six June 30, 2020 $0.51. 18 $4,000 $8,000 three six June 30, 2020, June 30, 2020, $42,000 2.58

Note 7 - Commitments and Contin

Note 7 - Commitments and Contingencies	6 Months Ended
	Jun. 30, 2020
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	7. Commitments and Contingencies Office Space Rental The Company has a non-cancelable operating lease for office and laboratory space in Charlottesville, Virginia, which began in April 2017 June 30, 2020, 1.8 842 first 2019 $0.1 $0.2 842 10%. second 2022 five 5 not June 30, 2020. Rent expense related to the Company's operating lease for both the three June 30, 2020 2019 $30,000 six June 30, 2020 2019 $60,000 $50,000, June 30, 2020 Rental Commitments 2020 58,575 2021 118,519 2022 39,735 Total 216,829 Less: imputed interest (21,950 ) $ 194,879 Research and Development Arrangements In the course of normal business operations, the Company enters into agreements with universities and contract research organizations, or CROs, to assist in the performance of research and development activities and contract manufacturers to assist with chemistry, manufacturing, and controls related expenses. Expenditures to CROs represent a significant cost in clinical development for the Company. The Company could also enter into additional collaborative research, contract research, manufacturing, and supplier agreements in the future, which may Defined Contribution Retirement Plan The Company has established a 401 “401 may 401 90% 4% 401 $14,000 $20,000 three June 30, 2020 2019, $31,000 $38,000 six June 30, 2020 2019, Legal Proceedings On August 7, 2014, Paul Feller v. RestorGenex Corporation, Pro Sports & Entertainment, Inc., ProElite, Inc. and Stratus Media Group, GmbH No. BC553996 December 30, 2014, April 1, 2015, April 14, 2015, January 8, 2016, November 19, 2018 not November 2020. may

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The accompanying unaudited interim consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information as found in the Accounting Standard Codification (“ASC”) and Accounting Standards Updates (“ASUs”) of the Financial Accounting Standards Board (“FASB”), and with the instructions to Form 10 10 X June 30, 2020, three six June 30, 2020 2019 six June 30, 2020 2019. six June 30, 2020 not may December 31, 2020. not December 31, 2019 10 March 17, 2020.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of the unaudited interim consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of assets and liabilities at the date the financial statements and reported amounts of expense during the reporting period. The full extent to which the COVID- 19 may 19, 19 19 no June 30, 2020. may 19,
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instruments Fair value is the price that could be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Fair value determination in accordance with applicable accounting guidance requires that a number of significant judgments be made. Additionally, fair value is used on a nonrecurring basis to evaluate assets for impairment or as required for disclosure purposes by applicable accounting guidance on disclosures about fair value of financial instruments. Depending on the nature of the assets and liabilities, various valuation techniques and assumptions are used when estimating fair value. The carrying amounts of certain of the Company's financial instruments, including cash equivalents and accounts payable are shown at cost, which approximates fair value due to the short-term nature of these instruments. The Company follows the provisions of FASB ASC Topic 820, Fair Value Measurement one three • Level 1: • Level 2: not • Level 3: no The following fair value hierarchy table presents information about the Company's cash equivalents measured at fair value on a recurring basis: March 31, 2020 (Level 1) (Level 2) (Level 3) Assets Cash equivalents $ 25,383,744 $ — $ — December 31, 2019 (Level 1) (Level 2) (Level 3) Assets Cash equivalents $ 14,006,193 $ — $ —
Goodwill and Intangible Assets, Policy [Policy Text Block]	Intangible Asset The Company's RES- 529 October 1 no 529 three six June 30, 2020 2019.
Earnings Per Share, Policy [Policy Text Block]	Net Loss Per Common Share Basic net loss per share is computed by dividing net loss attributable to common stockholders by the weighted average number of shares of common stock outstanding during each period. Diluted net loss per share includes the effect, if any, from the potential exercise or conversion of securities, such as convertible debt, convertible preferred stock, common stock warrants, stock options and unvested restricted stock that would result in the issuance of incremental shares of common stock. In computing the basic and diluted net loss per share applicable to common stockholders, the weighted average number of shares remains the same for both calculations due to the fact that when a net loss exists, dilutive shares are not The following potentially dilutive securities outstanding as of June 30, 2020 2019 Six Months Ended June 30, 2020 2019 Common stock warrants 9,117,209 3,469,925 Stock options 1,427,829 309,276 Unvested restricted stock awards 98,100 — 10,643,138 3,779,201
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Pronouncements In August 2018, 2018 13, Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurements, 820. 820's No. 2018 13 first 2020 not

Note 3 - Basis of Presentatio_2

Note 3 - Basis of Presentation and Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2020
Notes Tables
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	March 31, 2020 (Level 1) (Level 2) (Level 3) Assets Cash equivalents $ 25,383,744 $ — $ — December 31, 2019 (Level 1) (Level 2) (Level 3) Assets Cash equivalents $ 14,006,193 $ — $ —
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Six Months Ended June 30, 2020 2019 Common stock warrants 9,117,209 3,469,925 Stock options 1,427,829 309,276 Unvested restricted stock awards 98,100 — 10,643,138 3,779,201

Note 4 - Accrued Expenses and_2

Note 4 - Accrued Expenses and Other Current Liabilities (Tables)	6 Months Ended
	Jun. 30, 2020
Notes Tables
Other Current Liabilities [Table Text Block]	June 30, 2020 December 31, 2019 Accrued payroll and payroll related expenses 252,194 182,708 Accrued professional fees — 48,338 Accrued clinical studies expenses 52,705 57,378 Other accrued expenses 12,176 70,108 Total $ 317,075 $ 358,532

Note 5 - Stockholders' Equity_2

Note 5 - Stockholders' Equity and Common Stock Warrants (Tables)	6 Months Ended
	Jun. 30, 2020
Notes Tables
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	Outstanding Range of exercise price per shar Expiration dates Common stock warrants issued in 2017 related to Series A convertible preferred stock offering 903,870 $33.30 March 2022 Common stock warrants issued in 2018 related to the common stock offering 1,181,375 $12.00 - $15.00 January 2023 Common stock warrants issued related to the May 2019 offering 1,382,913 $5.00 - $6.11875 November 2024 Common stock warrants issued related to the November 2019 offering 514,283 $0.35 - $0.4375 May 2024 Common stock warrants issued related to the December 2019 offering 313,339 $0.6981 December 2024 Common stock warrants issued related to the May 2020 offering 571,429 $1.3125 May 2025 Common stock warrants issued related to May 2020 investor warrant exercise 4,250,000 $0.5263 - $0.5938 November 2025 9,117,209

Note 6 - Stock-based Compensa_2

Note 6 - Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2020
Notes Tables
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Three Months Ended June 30, Six Months Ended 2020 2019 2020 2019 Research and development $ 91,896 $ 13,577 $ 188,426 $ 27,173 General and administrative 21,548 135,503 116,398 213,111 Total stock-based compensation expense $ 113,444 $ 149,080 $ 304,824 $ 240,284
Share-based Payment Arrangement, Option, Activity [Table Text Block]	Number of Options Weighted average exercise price per share Weighted average remaining contractual life (in years) Balance at January 1, 2020 309,276 $ 55.78 Granted 1,118,700 0.58 Expired (147 ) 142.50 Outstanding at June 30, 2020 1,427,829 $ 12.53 8.9 Exercisable at June 30, 2020 660,504 $ 26.17 8.2
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	2020 Expected term (in years) 5.59 Risk-free interest rate 1.3 % Expected volatility 115.1 % Dividend yield — %

Note 7 - Commitments and Cont_2

Note 7 - Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2020
Notes Tables
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Rental Commitments 2020 58,575 2021 118,519 2022 39,735 Total 216,829 Less: imputed interest (21,950 ) $ 194,879

Note 3 - Basis of Presentatio_3

Note 3 - Basis of Presentation and Summary of Significant Accounting Policies - Fair Value on Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Fair Value, Inputs, Level 1 [Member]
Cash equivalents	$ 25,383,744	$ 14,006,193
Fair Value, Inputs, Level 2 [Member]
Cash equivalents
Fair Value, Inputs, Level 3 [Member]
Cash equivalents

Note 3 - Basis of Presentatio_4

Note 3 - Basis of Presentation and Summary of Significant Accounting Policies - Outstanding Dilutive Securities (Details) - shares	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Anti-dilutive securities (in shares)	10,643,138	3,779,201
Warrant [Member]
Anti-dilutive securities (in shares)	9,117,209	3,469,925
Share-based Payment Arrangement, Option [Member]
Anti-dilutive securities (in shares)	1,427,829	309,276
Restricted Stock [Member]
Anti-dilutive securities (in shares)	98,100

Note 4 - Accrued Expenses and_3

Note 4 - Accrued Expenses and Other Current Liabilities - Summary of Accrued Expenses (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Accrued payroll and payroll related expenses	$ 252,194	$ 182,708
Accrued professional fees		48,338
Accrued clinical studies expenses	52,705	57,378
Other accrued expenses	12,176	70,108
Total	$ 317,075	$ 358,532

Note 5 - Stockholders' Equity_3

Note 5 - Stockholders' Equity and Common Stock Warrants (Details Textual) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	May 31, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Deemed Dividend From Warrant Exchange		$ 1,950,378		$ 1,950,378
Class of Warrant or Rights, Expired (in shares)				0
Class of Warrant or Right, Exercised During Period (in shares)				19,089,361
Stock Issued During Period, Shares, Exercise Of Warrants (in shares)				19,089,361
Proceeds From Warrant Exercises, Net				$ 7,800,000
The May 2020 Offering Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)	571,429
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 1.3125	$ 1.3125		$ 1.3125
Warrants and Rights Outstanding, Term (Year)	5 years
Prior Warrant [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)	5,000,000
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 0.35
Class of Warrant or Right, Exchange, Additional Consideration Per Share (in dollars per share)	$ 0.125
New Warrants Issued May 8, 2020 [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)	5,000,000
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 0.5263
The May 2020 PA Warrants [Member] | H.C Wainwright & Co., LLC [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)	250,000
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 0.5938
The May 2020 Offering [Member]
Stock Issued During Period, Shares, New Issues (in shares)	11,428,572
Shares Issued, Price Per Share (in dollars per share)	$ 1.05
Proceeds from Issuance of Common Stock	$ 10,300,000

Note 5 - Stockholders' Equity_4

Note 5 - Stockholders' Equity and Common Stock Warrants - Warrants Outstanding to Acquire Shares of Its Common Stock (Details) - $ / shares	Jun. 30, 2020	May 31, 2020
Common stock warrants, outstanding (in shares)	9,117,209
Warrants Attached to Series A Convertible Preferred Stock [Member]
Common stock warrants, outstanding (in shares)	903,870
Range of exercise price (in dollars per share)	$ 33.30
Warrants Issued in Connection with the January 2018 Offering [Member]
Common stock warrants, outstanding (in shares)	1,181,375
Warrants Issued in Connection with the January 2018 Offering [Member] | Minimum [Member]
Range of exercise price (in dollars per share)	$ 12
Warrants Issued in Connection with the January 2018 Offering [Member] | Maximum [Member]
Range of exercise price (in dollars per share)	$ 15
Warrants Issued in Connection with May 2019 Public Offering [Member]
Common stock warrants, outstanding (in shares)	1,382,913
Warrants Issued in Connection with May 2019 Public Offering [Member] | Minimum [Member]
Range of exercise price (in dollars per share)	$ 5
Warrants Issued in Connection with May 2019 Public Offering [Member] | Maximum [Member]
Range of exercise price (in dollars per share)	$ 6.11875
Warrants Issued in Connection with the November 2019 Offering [Member]
Common stock warrants, outstanding (in shares)	514,283
Warrants Issued in Connection with the November 2019 Offering [Member] | Minimum [Member]
Range of exercise price (in dollars per share)	$ 0.35
Warrants Issued in Connection with the November 2019 Offering [Member] | Maximum [Member]
Range of exercise price (in dollars per share)	$ 0.4375
Warrants Issued in Connection with the December 2019 Offering [Member]
Common stock warrants, outstanding (in shares)	313,339
Range of exercise price (in dollars per share)	$ 0.6981
The May 2020 Offering Warrants [Member]
Common stock warrants, outstanding (in shares)	571,429
Range of exercise price (in dollars per share)	$ 1.3125	$ 1.3125
The May 2020 Investor Warrant Exercise [Member]
Common stock warrants, outstanding (in shares)	4,250,000
The May 2020 Investor Warrant Exercise [Member] | Minimum [Member]
Range of exercise price (in dollars per share)	$ 0.5263
The May 2020 Investor Warrant Exercise [Member] | Maximum [Member]
Range of exercise price (in dollars per share)	$ 0.5938

Note 6 - Stock-based Compensa_3

Note 6 - Stock-based Compensation (Details Textual) - USD ($)	Jan. 01, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)				$ 0.46
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares)				0	0
Share-based Payment Arrangement, Expense		$ 113,444	$ 149,080	$ 304,824	$ 240,284
Share-based Payment Arrangement, Option [Member]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total		500,000		$ 500,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)				1 year 182 days
Restricted Stock [Member] | Director [Member]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total		42,000		$ 42,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)				2 years 211 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)				98,100
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)				$ 0.51
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Month)				1 year 180 days
Share-based Payment Arrangement, Expense		$ 4,000		$ 8,000
Equity Incentive Plan 2015 [Member]
Percentage of Total Shares Eligible for Plan Reserve, On an Annual Basis				4.00%
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in shares)	1,339,215
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)		142,302		142,302

Note 6 - Stock-based Compensa_4

Note 6 - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Stock-based compensation expense	$ 113,444	$ 149,080	$ 304,824	$ 240,284
Research and Development Expense [Member]
Stock-based compensation expense	91,896	13,577	188,426	27,173
General and Administrative Expense [Member]
Stock-based compensation expense	$ 21,548	$ 135,503	$ 116,398	$ 213,111

Note 6 - Stock-based Compensa_5

Note 6 - Stock-based Compensation - Stock Option Activity (Details)	6 Months Ended
	Jun. 30, 2020$ / sharesshares
Options outstanding, number (in shares) | shares	309,276
Options outstanding, weighted-average exercise price (in dollars per share) | $ / shares	$ 55.78
Granted (in shares) | shares	1,118,700
Granted, weighted-average exercise price (in dollars per share) | $ / shares	$ 0.58
Expired (in shares) | shares	(147)
Expired, weighted-average exercise price (in dollars per share) | $ / shares	$ 142.50
Options outstanding, number (in shares) | shares	1,427,829
Options outstanding, weighted-average exercise price (in dollars per share) | $ / shares	$ 12.53
Options outstanding, weighted-average remaining contractual life (Year)	8 years 328 days
Exercisable (in shares) | shares	660,504
Exercisable, weighted-average exercise price (in dollars per share) | $ / shares	$ 26.17
Exercisable, weighted-average remaining contractual life (Year)	8 years 73 days

Note 6 - Stock-based Compensa_6

Note 6 - Stock-based Compensation - Fair Value Assumptions (Details)	6 Months Ended
	Jun. 30, 2020
Expected term (Year)	5 years 215 days
Risk-free interest rate	1.30%
Expected volatility	115.10%
Dividend yield

Note 7 - Commitments and Cont_3

Note 7 - Commitments and Contingencies (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Jan. 01, 2019
Lessee, Operating Lease, Remaining Lease Term (Year)	1 year 292 days		1 year 292 days
Operating Lease, Liability, Current	$ 109,808		$ 109,808		$ 111,477	$ 100,000
Operating Lease, Liability, Noncurrent	$ 85,071		$ 85,071		$ 135,566	$ 200,000
Lessee, Operating Lease, Discount Rate	10.00%		10.00%
Lessee, Operating Lease, Renewal Term (Year)	5 years		5 years
Operating Lease, Expense	$ 30,000	$ 30,000	$ 60,000	$ 50,000
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent			90.00%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay			4.00%
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 14,000	$ 20,000	$ 31,000	$ 38,000

Note 7 - Commitments and Cont_4

Note 7 - Commitments and Contingencies - Future Minimum Rental Payments (Details)	Jun. 30, 2020USD ($)
2020	$ 58,575
2021	118,519
2022	39,735
Total	216,829
Less: imputed interest	(21,950)
Operating Lease, Liability, Total	$ 194,879