CervoMed (CRVO) 10-K 18 Mar 22 2021 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2021	Mar. 14, 2022	Jun. 30, 2021
Document Information [Line Items]
Entity Central Index Key	0001053691
Entity Registrant Name	Diffusion Pharmaceuticals Inc.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2021
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Document Transition Report	false
Entity File Number	000-24477
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	30-0645032
Entity Address, Address Line One	300 East Main Street, Suite 201
Entity Address, City or Town	Charlottesville
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	22902
City Area Code	434
Local Phone Number	220-0718
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	DFFN
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 74,300,000
Entity Common Stock, Shares Outstanding		101,924,581
Auditor Name	KPMG LLP
Auditor Location	McLean, Virginia
Auditor Firm ID	185

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 37,313,558	$ 18,515,595
Prepaid expenses, deposits and other current assets	510,015	260,825
Total current assets	37,823,573	18,776,420
Property and equipment, net	0	149,198
Intangible asset	0	8,639,000
Right of use asset	0	149,162
Other assets	15,578	15,771
Total assets	37,839,151	27,729,551
Current liabilities:
Accounts payable	947,495	545,844
Accrued expenses and other current liabilities	1,980,189	1,776,470
Current operating lease liability	0	113,469
Total current liabilities	2,927,684	2,435,783
Deferred income taxes	0	443,893
Noncurrent operating lease liability	0	35,693
Total liabilities	2,927,684	2,915,369
Commitments and Contingencies (Note 5)
Stockholders’ Equity:
Common stock, $0.001 par value: 1,000,000,000 shares authorized; 101,914,280 and 64,015,441 shares issued and outstanding at December 31, 2021 and 2020, respectively	101,914	64,016
Additional paid-in capital	164,814,664	130,659,550
Accumulated deficit	(130,005,111)	(105,909,384)
Total stockholders' equity	34,911,467	24,814,182
Total liabilities and stockholders' equity	$ 37,839,151	$ 27,729,551

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
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)	101,914,280	64,015,441
Common stock, shares outstanding (in shares)	101,914,280	64,015,441

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Operating expenses:
Research and development	$ 8,499,414	$ 9,427,667
Intangible asset impairment charge	8,639,000	0
General and administrative	7,445,277	6,444,109
Depreciation	93,416	103,168
Loss from operations	(24,677,107)	(15,974,944)
Other income:
Interest income	137,487	114,257
Loss before income taxes	(24,539,620)	(15,860,687)
Income tax benefit	443,893	1,675,381
Net loss	(24,095,727)	(14,185,306)
Deemed dividend arising from warrant exchange	0	(1,950,378)
Net loss applicable to common stockholders	$ (24,095,727)	$ (16,135,684)
Share information:
Net loss per share of common stock, basic and diluted (in dollars per share)	$ (0.25)	$ (0.30)
Weighted average shares outstanding, basic and diluted (in dollars per share)	$ 97,626,748	$ 53,831,973

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
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, pre-funded warrants and warrants, net of issuance costs (in shares)	11,428,572
Issuance of common stock, pre-funded warrants and warrants, net of issuance costs	$ 11,429	10,330,202	0	10,341,631
Issuance of common stock upon exercise of warrants (in shares)	19,106,504
Issuance of common stock upon exercise of warrants	$ 19,106	7,768,370	0	7,787,476
Stock-based compensation expense	0	736,119	0	736,119
Net loss	$ 0	0	(14,185,306)	(14,185,306)
Balance (in shares) at Dec. 31, 2020	64,015,441
Balance at Dec. 31, 2020	$ 64,016	130,659,550	(105,909,384)	24,814,182
Issuance of common stock, pre-funded warrants and warrants, net of issuance costs (in shares)	33,658,538
Issuance of common stock, pre-funded warrants and warrants, net of issuance costs	$ 33,658	31,060,644	0	31,094,302
Issuance of common stock upon exercise of warrants (in shares)	4,230,000
Issuance of common stock upon exercise of warrants	$ 4,230	2,197,220	0	2,201,450
Stock-based compensation expense	0	897,260	0	897,260
Net loss	$ 0	0	(24,095,727)	(24,095,727)
Vesting of restricted stock units (in shares)	10,301
Vesting of restricted stock units	$ 10	(10)	0	0
Balance (in shares) at Dec. 31, 2021	101,914,280
Balance at Dec. 31, 2021	$ 101,914	$ 164,814,664	$ (130,005,111)	$ 34,911,467

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Operating activities:
Net loss	$ (24,095,727)	$ (14,185,306)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	93,416	103,168
Loss on disposal of property and equipment	51,782	0
Stock-based compensation expense	897,260	736,119
Abandonment of in-process research and development intangible asset	8,639,000	0
Change in deferred income taxes	(443,893)	(1,675,381)
Changes in operating assets and liabilities:
Prepaid expenses, deposits and other assets	(248,997)	518,169
Accounts payable, accrued expenses and other liabilities	605,370	950,602
Net cash used in operating activities	(14,501,789)	(13,552,629)
Cash flows provided by investing activities:
Cash received from sale of property and equipment	4,000	0
Net cash provided by investing activities	4,000	0
Cash flows provided by financing activities:
Proceeds from the sale of common stock, net of issuance costs	31,094,302	10,827,100
Proceeds from the sale of common stock warrants	2,201,450	8,046,103
Payment of offering costs	0	(982,328)
Net cash provided by financing activities	33,295,752	17,890,875
Net increase in cash and cash equivalents	18,797,963	4,338,246
Cash and cash equivalents at beginning of year	18,515,595	14,177,349
Cash and cash equivalents at end of year	37,313,558	$ 18,515,595
Supplemental disclosure of non-cash investing and financing activities:
Vesting of restricted stock units	$ 10

Note 1 - Organization and Descr

Note 1 - Organization and Description of Business	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Nature of Operations [Text Block]	1. Diffusion Pharmaceuticals Inc. ("the Company"), a Delaware corporation, is a biopharmaceutical company developing novel therapies that enhance the body’s ability to deliver oxygen to areas where it is needed most. The Company’s lead product candidate, TSC, is being developed to enhance the diffusion of oxygen to tissues with low oxygen levels, also known as hypoxia, a serious complication of many of medicine’s most intractable and difficult-to-treat conditions. In November 2021,

Note 2 - Liquidity

Note 2 - Liquidity	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Liquidity Disclosure [Text Block]	2. 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 expects that its existing cash and cash equivalents as of December 31, 2021 2023.

Note 3 - Basis of Presentation

Note 3 - Basis of Presentation and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Significant Accounting Policies [Text Block]	3. Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation The accompanying consolidated financial statements of the Company have been prepared in accordance with GAAP. Any reference in these notes to applicable guidance is meant to refer to GAAP as found in the Accounting Standards Codification and Accounting Standards Updates of the Financial Accounting Standards Board. Use of Estimates The preparation of financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates using historical experience and other factors, including the current economic environment. Significant items subject to such estimates are assumptions used for purposes of determining stock-based compensation and accounting for research and development activities. Management believes its estimates to be reasonable under the circumstances. Actual results could differ significantly from those estimates. Fair Value of Financial Instruments The carrying amounts of the Company’s financial instruments, including cash equivalents and accounts payable approximate fair value due to the short-term nature of those instruments. Concentration of Credit Risk Financial instruments that potentially expose the Company to concentrations of credit risk consist principally of cash on deposit with multiple financial institutions, the balances of which frequently exceed federally insured limits. Cash and Cash Equivalents The Company considers any highly-liquid investments, such as money market funds, with an original maturity of three Property and Equipment The Company records property and equipment at cost less accumulated depreciation and amortization. Costs of renewals and improvements that extend the useful lives of the assets are capitalized. Maintenance and repairs are expensed as incurred. Depreciation is recognized on a straight-line basis over the estimated useful lives of the assets, which generally range from 2 to 15 years. The Company amortizes leasehold improvements over the shorter of the estimated useful life of the asset or the term of the related lease. Upon retirement or disposition of assets, the costs and related accumulated depreciation and amortization are removed from the accounts with the resulting gains or losses, if any, reflected in results of operations. In November 2021, Intangible Asset In the third 2021, no 529 529 third 2021. Research and Development Major components of research and development costs include internal research and development (such as salaries and related employee benefits, equity-based compensation, supplies and allocated facility costs) and contracted services (research and development activities performed on the Company’s behalf). Costs incurred for research and development are expensed as incurred. At the end of the reporting period, the Company compares payments made to third may Upfront payments made to third Patent Costs Patent costs, including related legal costs, are expensed as incurred and are recorded within general and administrative expenses in the consolidated statements of operations. Income Taxes As a corporation, the Company uses the asset and liability method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. A valuation allowance is provided when it is more likely than not not not FASB ASC Subtopic 740 10, Accounting for Uncertainty of Income Taxes 740 10” may not 50% 740 10, Stock-based Compensation The Company measures stock-based awards at grant-date fair value and records compensation expense on a straight-line basis over the vesting period of the award. The Company uses the Black-Scholes Model to value its stock option awards. Estimating the fair value of stock option awards requires management to apply judgment and make estimates, including the volatility of the Company’s common stock, the expected term of the Company’s stock options, the expected dividend yield and the fair value of the Company’s common stock on the measurement date. As a result, if factors change and management uses different assumptions, stock-based compensation expense could be materially different for future awards. For certain stock option grants, the expected term was estimated using the “simplified method” for employee options as the Company has limited historical information to develop reasonable expectations about future exercise patterns and post vesting employment termination behavior for its stock option grants. The simplified method is based on the average of the vesting tranches and the contractual life of each grant. During the year ended December 31, 2020, For stock price volatility, the Company uses a combination of its own historical stock price and comparable public companies as a basis for its expected volatility to calculate the fair value of option grants. The Company assumes no not not Net Loss Per Common Share Basic net loss per share is computed by dividing net loss applicable 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 have been excluded from the computation of diluted weighted average shares outstanding, as they would be anti-dilutive: December 31, 2021 2020 Common stock warrants 6,499,469 9,100,112 Stock options 3,626,223 2,240,204 Unvested restricted stock units 275,450 153,000 10,401,142 11,493,316 Recently Issued But Not In June 2016, 2016 13, Credit Losses, Measurement of Credit Losses on Financial Instruments 326 no January 1, 2022. not Recently Adopted Accounting Pronouncements In December 2019, No. 2019 12, 740 Simplifying the Accounting for Income Taxes December 15, 2020 not January 2021 not

Note 4 - Accrued Expenses and O

Note 4 - Accrued Expenses and Other Current Liabilities	12 Months Ended
	Dec. 31, 2021
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 consist of the following: December 31, 2021 2020 Accrued payroll and payroll related expenses $ 879,971 $ 653,899 Accrued professional fees 247,704 31,809 Accrued clinical studies expenses 786,579 1,055,398 Other 65,935 35,364 Total $ 1,980,189 $ 1,776,470

Note 5 - Commitments and Contin

Note 5 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	5. Commitments and Contingencies Office Space Lease Commitment On November 8, 2021, April 30, 2022. one Rent expense related to the Company's operating lease for both the years ended December 31, 2021 2020 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 may 401 401 December 31, 2021 2020, Legal Proceedings On August 7, 2014, No. BC553996 December 30, 2014, April 1, 2015, April 14, 2015, January 8, 2016, November 19, 2018 not November 2020 19 November 2018 October 22, 2021, not February 23, 2022 May 24, 2023 The Company believes the claims in this matter are without merit and intends to defend itself vigorously. However, at this stage, the Company is unable to predict the outcome and possible loss or range of loss, if any, associated with its resolution or any potential effect the matter may

Note 6 - Stockholders' Equity a

Note 6 - Stockholders' Equity and Common Stock Warrants	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	6. Stockholders' Equity and Common Stock Warrants 2021 In February 2021, February 2021 February 2021 February 2021 five 2020 In May 2020, May 2020 May 2020 May 2020 five Additionally, also in May 2020, November 8, 2025. December 31, 2020, December 31, 2020 In connection with the May 2020 Common Stock Warrants During its evaluation of equity classification for the Company's common stock warrants issued in 2020 2019, 815 40, Derivatives and Hedging, Contracts in an Entity s own Equity 815 40 not not 480 Distinguishing Liabilities from Equity not not 815, As of December 31, 2021, Outstanding Range of exercise price per share 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 January 2018 common stock offering 1,181,421 $12.00 - $15.00 January 2023 Common stock warrants issued related to the May 2019 Offering 1,382,913 $5.00 - $6.11875 May and December 2024 Common stock warrants issued related to the November 2019 Offering 213,570 $0.35 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 March 2025 Common stock warrants issued related to the May 2020 Investor Warrant Exercise 250,000 $0.5938 November 2025 Common stock warrants issued related to the February 2021 Offering 1,682,927 $1.28 February 2026 6,499,469 During the year ended December 31, 2021, December 31, 2020,

Note 7 - Stock-based Compensati

Note 7 - Stock-based Compensation	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	7. Stock-Based Compensation 2015 The 2015 January 1 December 31, January 1, 2022. may 2015 December 31, 2021, 2015 ten 10 three 3 The Company recorded stock-based compensation expense in the following expense categories of its consolidated statements of operations for the periods indicated: Year ended December 31, 2021 2020 Research and development $ 154,041 $ 164,791 General and administrative 743,219 571,328 Total stock-based compensation expense $ 897,260 $ 736,119 The following table summarizes the activity related to all stock options: Number of Options Weighted average exercise price per share Weighted average remaining contractual life (in years) Aggregate Intrinsic Value Balance at January 1, 2020 309,276 $ 55.78 Granted 1,931,100 0.68 Expired (172 ) 142.50 Balance at December 31, 2020 2,240,204 $ 8.28 $ 289,067 Granted 1,815,767 0.89 Forfeited (429,748 ) 1.37 Outstanding at December 31, 2021 3,626,223 5.40 8.52 — Exercisable at December 31, 2021 2,140,524 $ 8.58 8.09 — Vested and expected to vest at December 31, 2021 3,626,223 $ 5.40 8.52 — The weighted average grant date fair value of stock option awards granted was $0.89 and $0.64 during the years ended December 31, 2021 2020, December 31, 2021 2020 December 31, 2021, December 31, 2021, December 31, 2021, not December 31, 2021, no The grant date fair value of employee stock options is determined using the Black-Scholes Model. The following assumptions were used during the years ended December 31, 2021 2020: 2021 2020 Expected term (in years) 10 5.31 — 10 Risk-free interest rate 1.3% — 1.7% 0.4% — 1.7% Expected volatility 122.6% — 125.8% 113.4% — 124.8% Dividend yield 0% 0% Restricted Stock Unit Awards The Company issues restricted stock ("RSU") to newly elected, non-executive members of the board of directors that vest in six, tri-monthly installments beginning 18 months after the respective grant date. The fair value of a RSU is equal to the fair market value price of the Company’s common stock on the date of grant. RSU expense is recorded on a straight-line basis over the service period. The following table summarizes activity related to RSU stock-based payment awards: Number of Units Weighted average grant date fair value Balance at January 1, 2021 153,000 $ 0.65 Granted 138,800 0.72 Vested (1) (16,350 ) 0.51 Outstanding at December 31, 2021 275,450 $ 0.70 ( 1 2021. The Company recognized approximately $54,000 and $18,000 in expense related to these units during the years ended December 31, 2021 December 2020, December 31, 2021,

Note 8 - Income Taxes

Note 8 - Income Taxes	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Income Tax Disclosure [Text Block]	8. Income Taxes Deferred tax assets and liabilities are determined based on the differences between the financial statement carrying amounts and tax bases of assets and liabilities using enacted tax rates in effect for years in which differences are expected to reverse. Significant components of the Company's deferred tax assets for federal income taxes consisted of the following: Deferred tax assets December 31, 2021 December 31, 2020 Net operating loss carryforwards $ 6,033,726 $ 3,864,189 Stock option compensation 1,641,354 1,571,227 Orphan Drug credits 647,937 541,384 Lease liability — 38,394 Capitalized start-up costs and other 12,403,925 10,709,631 Valuation allowance (20,726,942 ) (14,906,646 ) Deferred tax assets — 1,818,179 Deferred tax liabilities Intangible assets — (2,223,678 ) Right of use asset — (38,394 ) Deferred tax liabilities — (2,262,072 ) Net deferred tax liability $ — $ (443,893 ) The Company does not December 31, 2021 December 31, 2020. The Company had NOL carryforwards for federal and state income tax purposes at December 31, 2021 2020 Combined NOL Carryforwards: December 31, 2021 December 31, 2020 Federal $ 23,442,045 $ 15,013,388 State 23,436,624 15,007,966 The pre- 2018 2021 November 2019, 382 December 31, 2021 A reconciliation of income tax benefit at the statutory federal income tax rate and income taxes as reflected in the consolidated financial statements is as follows: Rate reconciliation: December 31, 2021 December 31, 2020 Federal tax benefit at statutory rate (21.0 )% (21.0 )% State tax, net of Federal benefit (4.7 )% (4.7 )% Orphan drug credit (0.4 )% (2.9 )% Change in valuation allowance 24.3 % 18.1 % Total provision (1.8 )% (10.5 )% The Company files income tax returns in the U.S. federal jurisdiction and various state jurisdictions. The Company’s 2018 to 2021

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The accompanying consolidated financial statements of the Company have been prepared in accordance with GAAP. Any reference in these notes to applicable guidance is meant to refer to GAAP as found in the Accounting Standards Codification and Accounting Standards Updates of the Financial Accounting Standards Board.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates using historical experience and other factors, including the current economic environment. Significant items subject to such estimates are assumptions used for purposes of determining stock-based compensation and accounting for research and development activities. Management believes its estimates to be reasonable under the circumstances. Actual results could differ significantly from those estimates.
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instruments The carrying amounts of the Company’s financial instruments, including cash equivalents and accounts payable approximate fair value due to the short-term nature of those instruments.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration of Credit Risk Financial instruments that potentially expose the Company to concentrations of credit risk consist principally of cash on deposit with multiple financial institutions, the balances of which frequently exceed federally insured limits.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents The Company considers any highly-liquid investments, such as money market funds, with an original maturity of three
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment The Company records property and equipment at cost less accumulated depreciation and amortization. Costs of renewals and improvements that extend the useful lives of the assets are capitalized. Maintenance and repairs are expensed as incurred. Depreciation is recognized on a straight-line basis over the estimated useful lives of the assets, which generally range from 2 to 15 years. The Company amortizes leasehold improvements over the shorter of the estimated useful life of the asset or the term of the related lease. Upon retirement or disposition of assets, the costs and related accumulated depreciation and amortization are removed from the accounts with the resulting gains or losses, if any, reflected in results of operations. In November 2021,
Goodwill and Intangible Assets, Policy [Policy Text Block]	Intangible Asset In the third 2021, no 529 529 third 2021.
Research and Development Expense, Policy [Policy Text Block]	Research and Development Major components of research and development costs include internal research and development (such as salaries and related employee benefits, equity-based compensation, supplies and allocated facility costs) and contracted services (research and development activities performed on the Company’s behalf). Costs incurred for research and development are expensed as incurred. At the end of the reporting period, the Company compares payments made to third may Upfront payments made to third
Legal Costs, Policy [Policy Text Block]	Patent Costs Patent costs, including related legal costs, are expensed as incurred and are recorded within general and administrative expenses in the consolidated statements of operations.
Income Tax, Policy [Policy Text Block]	Income Taxes As a corporation, the Company uses the asset and liability method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. A valuation allowance is provided when it is more likely than not not not FASB ASC Subtopic 740 10, Accounting for Uncertainty of Income Taxes 740 10” may not 50% 740 10,
Share-based Payment Arrangement [Policy Text Block]	Stock-based Compensation The Company measures stock-based awards at grant-date fair value and records compensation expense on a straight-line basis over the vesting period of the award. The Company uses the Black-Scholes Model to value its stock option awards. Estimating the fair value of stock option awards requires management to apply judgment and make estimates, including the volatility of the Company’s common stock, the expected term of the Company’s stock options, the expected dividend yield and the fair value of the Company’s common stock on the measurement date. As a result, if factors change and management uses different assumptions, stock-based compensation expense could be materially different for future awards. For certain stock option grants, the expected term was estimated using the “simplified method” for employee options as the Company has limited historical information to develop reasonable expectations about future exercise patterns and post vesting employment termination behavior for its stock option grants. The simplified method is based on the average of the vesting tranches and the contractual life of each grant. During the year ended December 31, 2020, For stock price volatility, the Company uses a combination of its own historical stock price and comparable public companies as a basis for its expected volatility to calculate the fair value of option grants. The Company assumes no not not
Earnings Per Share, Policy [Policy Text Block]	Net Loss Per Common Share Basic net loss per share is computed by dividing net loss applicable 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 have been excluded from the computation of diluted weighted average shares outstanding, as they would be anti-dilutive: December 31, 2021 2020 Common stock warrants 6,499,469 9,100,112 Stock options 3,626,223 2,240,204 Unvested restricted stock units 275,450 153,000 10,401,142 11,493,316
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued But Not In June 2016, 2016 13, Credit Losses, Measurement of Credit Losses on Financial Instruments 326 no January 1, 2022. not Recently Adopted Accounting Pronouncements In December 2019, No. 2019 12, 740 Simplifying the Accounting for Income Taxes December 15, 2020 not January 2021 not

Note 3 - Basis of Presentatio_2

Note 3 - Basis of Presentation and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	December 31, 2021 2020 Common stock warrants 6,499,469 9,100,112 Stock options 3,626,223 2,240,204 Unvested restricted stock units 275,450 153,000 10,401,142 11,493,316

Note 4 - Accrued Expenses and_2

Note 4 - Accrued Expenses and Other Current Liabilities (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Other Current Liabilities [Table Text Block]	December 31, 2021 2020 Accrued payroll and payroll related expenses $ 879,971 $ 653,899 Accrued professional fees 247,704 31,809 Accrued clinical studies expenses 786,579 1,055,398 Other 65,935 35,364 Total $ 1,980,189 $ 1,776,470

Note 6 - Stockholders' Equity_2

Note 6 - Stockholders' Equity and Common Stock Warrants (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	Outstanding Range of exercise price per share 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 January 2018 common stock offering 1,181,421 $12.00 - $15.00 January 2023 Common stock warrants issued related to the May 2019 Offering 1,382,913 $5.00 - $6.11875 May and December 2024 Common stock warrants issued related to the November 2019 Offering 213,570 $0.35 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 March 2025 Common stock warrants issued related to the May 2020 Investor Warrant Exercise 250,000 $0.5938 November 2025 Common stock warrants issued related to the February 2021 Offering 1,682,927 $1.28 February 2026 6,499,469

Note 7 - Stock-based Compensa_2

Note 7 - Stock-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Year ended December 31, 2021 2020 Research and development $ 154,041 $ 164,791 General and administrative 743,219 571,328 Total stock-based compensation expense $ 897,260 $ 736,119
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) Aggregate Intrinsic Value Balance at January 1, 2020 309,276 $ 55.78 Granted 1,931,100 0.68 Expired (172 ) 142.50 Balance at December 31, 2020 2,240,204 $ 8.28 $ 289,067 Granted 1,815,767 0.89 Forfeited (429,748 ) 1.37 Outstanding at December 31, 2021 3,626,223 5.40 8.52 — Exercisable at December 31, 2021 2,140,524 $ 8.58 8.09 — Vested and expected to vest at December 31, 2021 3,626,223 $ 5.40 8.52 —
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	2021 2020 Expected term (in years) 10 5.31 — 10 Risk-free interest rate 1.3% — 1.7% 0.4% — 1.7% Expected volatility 122.6% — 125.8% 113.4% — 124.8% Dividend yield 0% 0%
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]	Number of Units Weighted average grant date fair value Balance at January 1, 2021 153,000 $ 0.65 Granted 138,800 0.72 Vested (1) (16,350 ) 0.51 Outstanding at December 31, 2021 275,450 $ 0.70

Note 8 - Income Taxes (Tables)

Note 8 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	Deferred tax assets December 31, 2021 December 31, 2020 Net operating loss carryforwards $ 6,033,726 $ 3,864,189 Stock option compensation 1,641,354 1,571,227 Orphan Drug credits 647,937 541,384 Lease liability — 38,394 Capitalized start-up costs and other 12,403,925 10,709,631 Valuation allowance (20,726,942 ) (14,906,646 ) Deferred tax assets — 1,818,179 Deferred tax liabilities Intangible assets — (2,223,678 ) Right of use asset — (38,394 ) Deferred tax liabilities — (2,262,072 ) Net deferred tax liability $ — $ (443,893 )
Summary of Operating Loss Carryforwards [Table Text Block]	Combined NOL Carryforwards: December 31, 2021 December 31, 2020 Federal $ 23,442,045 $ 15,013,388 State 23,436,624 15,007,966
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Rate reconciliation: December 31, 2021 December 31, 2020 Federal tax benefit at statutory rate (21.0 )% (21.0 )% State tax, net of Federal benefit (4.7 )% (4.7 )% Orphan drug credit (0.4 )% (2.9 )% Change in valuation allowance 24.3 % 18.1 % Total provision (1.8 )% (10.5 )%

Note 3 - Basis of Presentatio_3

Note 3 - Basis of Presentation and Summary of Significant Accounting Policies (Details Textual) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)	$ 8,600,000	$ 8,639,000	$ 0
Income Tax Expense (Benefit), Total	$ (400,000)	$ (443,893)	$ (1,675,381)
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term (Year)		10 years	10 years
Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)		2 years
Minimum [Member] | Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term (Year)			5 years 3 months 21 days
Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)		15 years
Maximum [Member] | Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term (Year)			10 years

Note 3 - Basis of Presentatio_4

Note 3 - Basis of Presentation and Summary of Significant Accounting Policies - Outstanding Dilutive Securities (Details) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Anti-dilutive securities (in shares)	10,401,142	11,493,316
Warrant [Member]
Anti-dilutive securities (in shares)	6,499,469	9,100,112
Share-based Payment Arrangement, Option [Member]
Anti-dilutive securities (in shares)	3,626,223	2,240,204
Unvested Restricted Stock Units [Member]
Anti-dilutive securities (in shares)	275,450	153,000

Note 4 - Accrued Expenses and_3

Note 4 - Accrued Expenses and Other Current Liabilities - Summary of Accrued Expenses (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Accrued payroll and payroll related expenses	$ 879,971	$ 653,899
Accrued professional fees	247,704	31,809
Accrued clinical studies expenses	786,579	1,055,398
Other	65,935	35,364
Total	$ 1,980,189	$ 1,776,470

Note 5 - Commitments and Cont_2

Note 5 - Commitments and Contingencies (Details Textual) - USD ($)	Nov. 08, 2021	Dec. 31, 2021	Dec. 31, 2020
Operating Lease, Payments	$ 14,000
Operating Lease, Expense		$ 100,000	$ 100,000
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		$ 75,000	$ 68,000

Note 6 - Stockholders' Equity_3

Note 6 - Stockholders' Equity and Common Stock Warrants (Details Textual) - USD ($)	1 Months Ended		12 Months Ended
	Feb. 28, 2021	May 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Proceeds from Issuance of Common Stock			$ 31,094,302	$ 10,827,100
Deemed Dividend From Warrant Exchange		$ 2,000,000	$ 0	$ 1,950,378
Class of Warrant or Rights, Expired (in shares)			53,570	0
Class of Warrant or Right, Exercised During Period (in shares)			4,230,000	19,106,504
Proceeds from Warrant Exercises			$ 2,200,000	$ 8,000,000
Underwriter Warrants in Connection with the February 2021 Common Stock Offering [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)	1,682,927
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 1.28125		$ 1.28
Warrants and Rights Outstanding, Term (Year)	5 years
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
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
Public Offering, Inclusive of Underwriter Shares [Member]
Stock Issued During Period, Shares, New Issues (in shares)	33,658,538
Shares Issued, Price Per Share (in dollars per share)	$ 1.025
Underwriter Option to Purchase Additional Shares, Term (Day)	30 days
Proceeds from Issuance of Common Stock	$ 31,100,000
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 6 - Stockholders' Equity_4

Note 6 - Stockholders' Equity and Common Stock Warrants - Warrants Outstanding to Acquire Shares of Its Common Stock (Details) - $ / shares	Dec. 31, 2021	Feb. 28, 2021	May 31, 2020
Common stock warrants, outstanding (in shares)	6,499,469
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)	1,181,421
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)	213,570
Range of exercise price (in dollars per share)	$ 0.35
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)	250,000
Range of exercise price (in dollars per share)	$ 0.5938
Underwriter Warrants in Connection with the February 2021 Common Stock Offering [Member]
Common stock warrants, outstanding (in shares)	1,682,927
Range of exercise price (in dollars per share)	$ 1.28	$ 1.28125

Note 7 - Stock-based Compensa_3

Note 7 - Stock-based Compensation (Details Textual) - USD ($)	Jan. 01, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)		$ 0.89	$ 0.64
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value		$ 800,000	$ 700,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares)		0	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)		1,815,767	1,931,100
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)		$ 0.89	$ 0.68
Share-based Payment Arrangement, Expense		$ 897,260	$ 736,119
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)		10 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)		3 years
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total		$ 1,100,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)		1 year 8 months 12 days
Share-based Payment Arrangement, Expense		$ 100,000
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)		385,267
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)		$ 1.11
Restricted Stock Units (RSUs) [Member]
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation (in shares)		6,049
Restricted Stock Units (RSUs) [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)		18 months
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total		$ 100,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)		2 years 1 month 13 days
Share-based Payment Arrangement, Expense		$ 54,000	$ 18,000
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 Shares Available for Grant (in shares)		580,925
Equity Incentive Plan 2015 [Member] | Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in shares)	4,076,571

Note 7 - Stock-based Compensa_4

Note 7 - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Stock-based compensation expense	$ 897,260	$ 736,119
Research and Development Expense [Member]
Stock-based compensation expense	154,041	164,791
General and Administrative Expense [Member]
Stock-based compensation expense	$ 743,219	$ 571,328

Note 7 - Stock-based Compensa_5

Note 7 - Stock-based Compensation - Stock Option Activity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Options outstanding, number (in shares)	2,240,204	309,276
Options outstanding, weighted-average exercise price (in dollars per share)	$ 8.28	$ 55.78
Granted (in shares)	1,815,767	1,931,100
Granted, weighted-average exercise price (in dollars per share)	$ 0.89	$ 0.68
Expired (in shares)		(172)
Expired, weighted-average exercise price (in dollars per share)		$ 142.50
Options outstanding, number (in shares)	3,626,223	2,240,204
Options outstanding, aggregate intrinsic value		$ 289,067
Forfeited (in shares)	(429,748)
Forfeited, weighted-average exercise price (in dollars per share)	$ 1.37
Options outstanding, number (in shares)	3,626,223	2,240,204
Options outstanding, weighted-average exercise price (in dollars per share)	$ 5.40	$ 8.28
Options outstanding, weighted-average remaining contractual life (Year)	8 years 6 months 7 days
Exercisable (in shares)	2,140,524
Exercisable, weighted-average exercise price (in dollars per share)	$ 8.58
Exercisable, weighted-average remaining contractual life (Year)	8 years 1 month 2 days
Vested and expected to vest (in shares)	3,626,223
Vested and expected to vest, weighted-average exercise price (in dollars per share)	$ 5.40
Vested and expected to vest, weighted-average remaining contractual life (Year)	8 years 6 months 7 days

Note 7 - Stock-based Compensa_6

Note 7 - Stock-based Compensation - Fair Value Assumptions (Details) - Share-based Payment Arrangement, Option [Member]	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Expected term (Year)	10 years	10 years
Dividend yield	0.00%	0.00%
Minimum [Member]
Expected term (Year)		5 years 3 months 21 days
Risk-free interest rate	1.30%	0.40%
Expected volatility	122.60%	113.40%
Maximum [Member]
Expected term (Year)		10 years
Risk-free interest rate	1.70%	1.70%
Expected volatility	125.80%	124.80%

Note 7 - Stock-based Compensa_7

Note 7 - Stock-based Compensation - RSU Stock-based Payment Awards (Details) - Restricted Stock Units (RSUs) [Member]	12 Months Ended
	Dec. 31, 2021$ / sharesshares
Unvested, shares (in shares) | shares	153,000
Unvested, Weighted-average grant date fair value (in dollars per share) | $ / shares	$ 0.65
Granted, shares (in shares) | shares	138,800
Granted, Weighted-average grant date fair value (in dollars per share) | $ / shares	$ 0.72
Vested, shars (in shares) | shares	(16,350)
Vested, Weighted-average grant date fair value (in dollars per share) | $ / shares	$ 0.51
Unvested, shares (in shares) | shares	275,450
Unvested, Weighted-average grant date fair value (in dollars per share) | $ / shares	$ 0.70

Note 8 - Income Taxes (Details

Note 8 - Income Taxes (Details Textual)	12 Months Ended
	Dec. 31, 2021
Deferred Tax Assets, Valuation Allowance, Percentage	100.00%
Open Tax Year	2018

Note 8 - Income Taxes - Deferre

Note 8 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Net operating loss carryforwards	$ 6,033,726	$ 3,864,189
Stock option compensation	1,641,354	1,571,227
Orphan Drug credits	647,937	541,384
Lease liability	0	38,394
Capitalized start-up costs and other	12,403,925	10,709,631
Valuation allowance	(20,726,942)	(14,906,646)
Deferred tax assets	0	1,818,179
Intangible assets	0	(2,223,678)
Right of use asset	0	(38,394)
Deferred tax liabilities	0	(2,262,072)
Net deferred tax liability	$ 0	$ (443,893)

Note 8 - Income Taxes - Operati

Note 8 - Income Taxes - Operating Loss Carryforwards (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Domestic Tax Authority [Member]
Operating loss carryforwards	$ 23,442,045	$ 15,013,388
State and Local Jurisdiction [Member]
Operating loss carryforwards	$ 23,436,624	$ 15,007,966

Note 8 - Income Taxes - Reconci

Note 8 - Income Taxes - Reconciliation of Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Federal tax benefit at statutory rate	(21.00%)	(21.00%)
State tax, net of Federal benefit	(4.70%)	(4.70%)
Orphan drug credit	(0.40%)	(2.90%)
Change in valuation allowance	24.30%	18.10%
Total provision	(1.80%)	(10.50%)