Dyadic International (DYAI) 10-K 30 Mar 21 2020 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2020	Mar. 29, 2021	Jun. 30, 2020
Document Information [Line Items]
Entity Central Index Key	0001213809
Entity Registrant Name	DYADIC INTERNATIONAL INC
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Document Transition Report	false
Entity File Number	000-55264
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-0486747
Entity Address, Address Line One	140 Intracoastal Pointe Drive, Suite 404
Entity Address, City or Town	Jupiter
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33477
City Area Code	561
Local Phone Number	743-8333
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	DYAI
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
Entity Shell Company	false
Entity Public Float			$ 238,000,000
Entity Common Stock, Shares Outstanding		27,554,157

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 20,637,045	$ 4,823,544
Short-term investment securities	8,457,452	29,399,146
Interest receivable	112,247	329,711
Accounts receivable	294,199	558,530
Income tax receivable	0	250,308
Prepaid expenses and other current assets	280,555	277,999
Total current assets	29,781,498	35,639,238
Non-current assets:
Long-term investment securities	0	1,511,636
Long-term income tax receivable	0	250,308
Investment in Alphazyme	284,709	0
Other assets	6,225	51,314
Total assets	30,072,432	37,452,496
Current liabilities:
Accounts payable	1,013,099	943,378
Accrued expenses	489,756	566,003
Deferred research and development obligations	123,016	78,644
Total current liabilities	1,625,871	1,588,025
Commitments and contingencies (Note 5)
Stockholders’ equity:
Preferred stock, $.0001 par value: Authorized shares - 5,000,000; none issued and outstanding	0	0
Common stock, $.001 par value: Authorized shares - 100,000,000; issued shares - 39,747,659 and 39,612,659, outstanding shares - 27,494,157 and 27,359,157 as of December 31, 2020 and 2019, respectively	39,748	39,613
Additional paid-in capital	98,013,079	96,105,851
Treasury stock, shares held at cost - 12,253,502	(18,929,915)	(18,929,915)
Accumulated deficit	(50,676,351)	(41,351,078)
Total stockholders’ equity	28,446,561	35,864,471
Total liabilities and stockholders’ equity	$ 30,072,432	$ 37,452,496

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	39,747,659	39,612,659
Common stock, shares outstanding (in shares)	27,494,157	27,359,157
Treasury stock (in shares)	12,253,502	12,253,502

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Revenues:
Research and development revenue	$ 1,601,921	$ 1,681,076
Costs and expenses:
Costs of research and development revenue	1,424,931	1,459,701
Provision for contract losses	187,388	0
Research and development	3,868,121	3,087,597
Research and development - related party	0	868,720
General and administrative	6,084,799	5,519,922
Foreign currency exchange loss (gain), net	62,345	27,725
Total costs and expenses	11,627,584	10,963,665
Loss from operations	(10,025,663)	(9,282,589)
Interest income	446,999	984,930
Unrealized gain from investment in Alphazyme	284,709	0
Loss before income taxes	(9,293,955)	(8,297,659)
Provision for (benefit from) income taxes	31,318	10,306
Net loss	$ (9,325,273)	$ (8,307,965)
Basic and diluted net loss per common share (in dollars per share)	$ (0.34)	$ (0.31)
Basic and diluted weighted-average common shares outstanding (in shares)	27,471,587	27,003,695

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($)	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2018	38,966,988	(12,253,502)
Balance at Dec. 31, 2018	$ 38,967	$ (18,929,915)	$ 94,385,230	$ (33,043,113)	$ 42,451,169
Stock-based compensation	$ 0	$ 0	1,171,079	0	$ 1,171,079
Exercise of stock options (in shares)	645,671	0			781,500
Exercise of stock options	$ 646	$ 0	549,542	0	$ 550,188
Net loss	$ 0	$ 0	0	(8,307,965)	(8,307,965)
Balance (in shares) at Dec. 31, 2019	39,612,659	(12,253,502)
Balance at Dec. 31, 2019	$ 39,613	$ (18,929,915)	96,105,851	(41,351,078)	35,864,471
Stock-based compensation	$ 0	$ 0	1,651,893	0	$ 1,651,893
Exercise of stock options (in shares)	135,000	0			135,000	[1]
Exercise of stock options	$ 135	$ 0	255,335	0	$ 255,470
Net loss	$ 0	$ 0	0	(9,325,273)	(9,325,273)
Balance (in shares) at Dec. 31, 2020	39,747,659	(12,253,502)
Balance at Dec. 31, 2020	$ 39,748	$ (18,929,915)	$ 98,013,079	$ (50,676,351)	$ 28,446,561
[1]	Represents the following stock options exercised: A total of 135,000 stock options exercised with a weighted average market price of $1.89.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities
Net loss	$ (9,325,273)	$ (8,307,965)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	1,651,893	1,171,079
Amortization of held-to-maturity securities, net	331,277	198,208
Unrealized gain from investment in Alphazyme	(284,709)	0
Foreign currency exchange loss (gain), net	62,345	27,725
Changes in operating assets and liabilities:
Interest receivable	217,464	(35,471)
Accounts receivable	363,365	(252,772)
Income tax receivable	500,616	506,866
Prepaid research and development	0	253,446
Prepaid expenses and other current assets	(2,410)	(105,707)
Accounts payable	(53,200)	657,658
Accrued expenses	(80,132)	166,399
Deferred research and development obligations	44,372	(62,358)
Net cash used in operating activities	(6,574,392)	(5,782,892)
Cash flows from investing activities
Purchases of held-to-maturity investment securities	(17,638,947)	(47,615,550)
Proceeds from maturities of investment securities	39,761,000	55,323,000
Net cash provided by investing activities	22,122,053	7,707,450
Cash flows from financing activities
Proceeds from exercise of options	255,470	550,188
Net cash provided by (used in) financing activities	255,470	550,188
Effect of exchange rate changes on cash	10,370	(37,516)
Net decrease in cash and cash equivalents	15,813,501	2,437,230
Cash and cash equivalents at beginning of period	4,823,544	2,386,314
Cash and cash equivalents at end of period	20,637,045	4,823,544	$ 2,386,314
Supplemental cash flow information
Cash received from income tax refund	$ 500,616	$ 506,866	$ 500,000

Note 1 - Organization and Summa

Note 1 - Organization and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Business Description and Accounting Policies [Text Block]	Note 1: Description of Business Dyadic International, Inc. (“Dyadic”, “we”, “us”, “our”, or the “Company”) is a global biotechnology platform company based in Jupiter, Florida with operations in the United States, a satellite office in the Netherlands and predominantly two two third Thermothelomyces heterothallica Myceliophthora thermophila C1. C1 On December 31, 2015, C1 C1 may After the DuPont Transaction, the Company has been focused on the biopharmaceutical industry, specifically in further improving and applying the proprietary C1 C1 C1 19 Effective April 17, 2019, Impact of COVID- 19 The outbreak of COVID- 19 To date, some of our employees are still working remotely. The extent to which the COVID- 19 may 2 2 2 2 third 19 may may 19 not 19 Liquidity and Capital Resources We rely on our existing cash and cash equivalents, investments in debt securities, and operating cash flow to provide the working capital needs for our operations. We believe that we have sufficient cash, cash equivalents and investments to fund our operations for at least the next twelve not may C1 no Summary of Significant Accounting Policies Basis of Presentation The accompanying audited consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. Dyadic consolidates entities in which we have a controlling financial interest. We consolidate subsidiaries in which we hold and/or control, directly or indirectly, more than 50% Since concluding the DuPont Transaction, the Company has conducted business in one Use of Estimates The preparation of these consolidated financial statements in accordance with GAAP requires management to make estimates and judgments that affect the reported amount of assets and liabilities and related disclosure of contingent assets and liabilities at the date of our consolidated financial statements and the reported amounts of revenues and expenses during the applicable period. Actual results may Concentrations and Credit Risk The Company’s financial instruments that are potentially subject to concentrations of credit risk consist primarily of cash and cash equivalents, investment securities, and accounts receivable. At times, the Company has cash, cash equivalents, and investment securities at financial institutions exceeding the Federal Depository Insurance Company (“FDIC”) and the Securities Investor Protection Corporation (“SIPC”) insured limit on domestic currency and the Netherlands FDIC counterpart for foreign currency. The Company only deals with reputable financial institutions and has not For the years ended December 31, 2020 2019 fourteen ten December 31, 2020 2019 nine five one The Company conducts operations in the Netherlands through its foreign subsidiary and generates a portion of its revenues from customers that are located outside of the United States. As of and for the year ended December 31, 2020 seven December 31, 2019 four The Company uses several contract research organizations (“CROs”) to conduct its research projects. For the years ended December 31, 2020 2019 one December 31, 2020 December 31, 2019 Cash and Cash Equivalents We treat highly liquid investments with original maturities of three Investment Securities The Company invests excess cash balances in short-term and long-term investment grade securities. Short-term investment securities mature within twelve 12 twelve 12 The Company’s investments in money market funds have been classified and accounted for as available-for-sale securities and presented as cash equivalents on the consolidated balance sheet. As of December 31, 2020 2019 not December 31, 2020 2019 Accounts Receivable Accounts receivable consist of billed receivables currently due from customers and unbilled receivables. Unbilled receivables represent the excess of contract revenue (or amounts reimbursable under contracts) over billings to date. Such amounts become billable in accordance with the contract terms, which usually consider the passage of time, achievement of certain milestones or completion of the project. Outstanding account balances are reviewed individually for collectability. The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in the Company’s existing accounts receivable. Substantially all of our accounts receivable were current and include unbilled amounts that will be billed and collected over the next twelve 12 December 31, 2020 2019 Accounts receivable consist of the following: December 31, 2020 2019 Billed receivable $ 130,532 $ 432,546 Unbilled receivable 163,667 125,984 $ 294,199 $ 558,530 Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consist of the following: December 31, 2020 2019 Prepaid insurance $ 204,988 $ 173,890 Prepaid expenses - various 72,403 101,221 Prepaid taxes 3,164 2,888 $ 280,555 $ 277,999 Equity Method Investment The Company follows Accounting Standards Codification (“ASC”) Subtopic 323 10, not 3 Equity method investments are assessed for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment may not Accounts Payable Accounts payable consist of the following: December 31, 2020 2019 Research and development expenses $ 904,572 $ 766,001 Legal expenses 24,496 26,994 Other 84,031 150,383 $ 1,013,099 $ 943,378 Accrued Expenses Accrued expenses consist of the following: December 31, 2020 2019 Employee wages and benefits $ 447,881 $ 474,388 Research and development expenses 28,508 69,795 Other 13,367 21,820 $ 489,756 $ 566,003 Revenue Recognition The Company has no third may Revenue related to research collaborations and agreements: 5 606 606” 606 Under the input method, revenue will be recognized based on the entity’s efforts or inputs to the satisfaction of a performance obligation (e.g., resources consumed, labor hours expended, costs incurred, or time elapsed) relative to the total expected inputs to the satisfaction of that performance obligation. The Company believes that the cost-based input method is the best measure of progress to reflect how the Company transfers its performance obligation to a customer. In applying the cost-based input method of revenue recognition, the Company uses actual costs incurred relative to budgeted costs to fulfill the performance obligation. These costs consist primarily of full-time equivalent effort and third A cost-based input method of revenue recognition requires management to make estimates of costs to complete the Company’s performance obligations. In making such estimates, significant judgment is required to evaluate assumptions related to cost estimates. The cumulative effect of revisions to estimated costs to complete the Company’s performance obligations will be recorded in the period in which changes are identified and amounts can be reasonably estimated. A significant change in these assumptions and estimates could have a material impact on the timing and amount of revenue recognized in future periods. Revenue related to grants: may not 19 not third 2 Revenue related to sublicensing agreements: Milestone payments: not Royalties: not We invoice customers based on our contractual arrangements with each customer, which may not We are not one The Company adopted a practical expedient to expense sales commissions when incurred because the amortization period would be one Research and Development Costs Research and development (“R&D”) costs are expensed as incurred. R&D costs are related to the Company’s internally funded pharmaceutical programs and other governmental and commercial projects. Research and development costs consist of personnel-related costs, facilities, research-related overhead, services from independent contract research organizations, and other external costs. Research and development costs, including related party, during the years ended December 31, 2020 2019 Years Ended December 31, 2020 2019 Outside contracted services $ 3,302,034 $ 2,578,507 Contracted services - related party — 868,720 Personnel related costs 531,405 423,898 Facilities, overhead and other 34,682 85,192 $ 3,868,121 $ 3,956,317 Provision for Contract Losses The Company assesses the profitability of our collaboration agreements to provide research services to our contracted business partners and identifies those contracts where current operating results or forecasts indicate probable future losses. If an anticipated contract cost exceeds anticipated contract revenue, a provision for the entire estimated loss on the contract is recorded and then accreted into the statement of operations over the remaining term of the contract. The provision for contract losses is based on judgment and estimates, including revenues and costs, where applicable, the consideration of our business partners’ reimbursement, and when such loss is deemed probable to occur and is reasonable to estimate. Foreign Currency Transaction Gain or Loss The Company and its foreign subsidiary use the U.S. dollar as its functional currency, and initially measure the foreign currency denominated assets and liabilities at the transaction date. Monetary assets and liabilities are then re-measured at exchange rates in effect at the end of each period, and property and non-monetary assets and liabilities are converted at historical rates. Fair Value Measurements The Company applies fair value accounting for certain financial instruments that are recognized or disclosed at fair value in the financial statements. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three • Level 1 • Level 2 • Level 3 The Company’s financial instruments included cash and cash equivalents, investment in debt securities, accounts receivable, accounts payable and accrued expenses, accrued payroll and related liabilities, deferred research and development obligations and deposits. The carrying amount of these financial instruments, except for investment in debt securities, approximates fair value due to the short-term maturities of these instruments. The Company’s short-term and long-term investments in debt securities are recorded at amortized cost, and their estimated fair value amounts are provided by the third Non-Marketable Investments The Company also holds investments in non-marketable equity securities of privately-held companies, which usually do not may may may no may not may may not may not For the year ended December 31, 2020, third December 31, 2020, $284,709. Income Taxes The Company accounts for income taxes under the asset and liability method in accordance with ASC Topic 740, not not In determining taxable income for the Company’s consolidated financial statements, we are required to estimate income taxes in each of the jurisdictions in which we operate. This process requires the Company to make certain estimates of our actual current tax exposure and assessment of temporary differences between the tax and financial statement recognition of revenue and expense. In evaluating the Company’s ability to recover its deferred tax assets, the Company must consider all available positive and negative evidence including its past operating results, the existence of cumulative losses in the most recent years and its forecast of future taxable income. Significant management judgment is required in determining our provision for income taxes, deferred tax assets and liabilities and any valuation allowance recorded against our net deferred tax assets. The Company is required to evaluate the provisions of ASC 740 740 not not 740. Comprehensive Income (Loss) Comprehensive income (loss) includes net income (loss) and other revenue, expenses, gains and losses that are recorded as an element of shareholders’ equity but are excluded from net income (loss) under U.S. GAAP. The Company does not not Stock-Based Compensation We recognize all share-based payments to employees, consultants, and our Board of Directors (the “Board”), as non-cash compensation expense, in research and development expenses or general and administrative expenses in the consolidated statement of operations based on the grant date fair values of such payments. Stock-based compensation expense recognized each period is based on the value of the portion of share-based payment awards that is ultimately expected to vest during the period. Forfeitures are recorded as they occur. For performance-based awards, the Company recognizes related stock-based compensation expense based upon its determination of the potential likelihood of achievement of the specified performance conditions at each reporting date. Net Loss Per Share Basic net loss per share is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding during the reporting period. Diluted net loss per share adjusts the weighted average number of common shares outstanding for the potential dilution that could occur if common stock equivalents, such as stock options, warrants, restricted stock and convertible debt, were exercised and converted into common stock, calculated by applying the treasury stock method. For the years ended December 31, 2020 2019 Recently Adopted Accounting Pronouncements In August 2018, 2018 13, 820 3 first 2020. not Recently Issued Accounting Pronouncements In June 2016, 2016 13, 326 2016 13 first 2023. not 2016 13 In December 2019, No. 2019 12, Income Taxes (Topic 740 2019 12 first 2021. Other pronouncements issued by the FASB or other authoritative accounting standards group with future effective dates are either not not

Note 2 - Cash, Cash Equivalent,

Note 2 - Cash, Cash Equivalent, and Investments	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Cash, Cash Equivalents, and Marketable Securities [Text Block]	Note 2: The Company’s investments in debt securities are classified as held-to-maturity and are recorded at amortized cost, and its investments in money market funds are classified as cash equivalents. The following table shows the Company’s cash, available-for-sale securities, and short-term and long-term investment securities by major security type as of December 31, 2020 2019 December 31, 2020 Gross Gross Level Unrealized Unrealized (1) Fair Value Holding Gains Holding Losses Adjusted Cost Cash and Cash Equivalents Cash $ 149,015 $ — $ — $ 149,015 Money Market Funds 1 20,488,030 — — $ 20,488,030 Subtotal 20,637,045 — — 20,637,045 Short-Term Investment Securities (2) Corporate Bonds (4) 2 8,473,461 22,473 (6,463 ) $ 8,457,451 Total $ 29,110,506 $ 22,473 $ (6,463 ) $ 29,094,496 December 31, 2019 Gross Gross Level Unrealized Unrealized (1) Fair Value Holding Gains Holding Losses Adjusted Cost Cash and Cash Equivalents Cash $ 1,010,510 $ — $ — $ 1,010,510 Money Market Funds 1 3,813,034 — — 3,813,034 Subtotal 4,823,544 — — 4,823,544 Short-Term Investment Securities (2) Corporate Bonds (4) 2 29,387,053 5,898 (17,991 ) $ 29,399,146 Long-Term Investment Securities (3) Corporate Bonds (4) 2 1,528,190 16,554 — 1,511,636 Total $ 35,738,787 $ 22,452 $ (17,991 ) $ 35,734,326 Notes: ( 1 three • Level 1 • Level 2 • Level 3 ( 2 12 ( 3 12 ( 4 December 31, 2020 2019 The Company considers declines in market value of its investment portfolio to be temporary in nature. The Company’s investment policy requires investment securities to be investment grade and held to maturity with the primary objective to maintain a high degree of liquidity while maximizing yield. When evaluating an investment for other-than-temporary impairment, the Company reviews factors such as the length of time and extent to which fair value has been below its cost basis, the financial condition of the issuer and any changes thereto, changes in market interest rates, and whether it is more likely than not December 31, 2020 not

Note 3 - Research and Collabora

Note 3 - Research and Collaboration Agreements, Sublicense Agreement and Investments in Privately Held Companies	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Collaborative Arrangement Disclosure [Text Block]	Note 3: BDI On June 30, 2017, The R&D Agreements provide a framework under which the parties will engage in a research and development collaboration encompassing several different projects over approximately a two C1 C1 C1 Upon closing of the BDI transaction, the Company paid EUR €1 C1 C1 €936,000 two €1 €8 not €1.5 two The Company has concluded that BDI is not not not not not The Company performed a valuation analysis of the components of the transaction and allocated the consideration based on the relative fair value of each component. As the fair value of BDI equity interest was considered immaterial, the RSA Initial Payment of approximately USD $1.1 million (EUR €1 June 2019, December 31, 2019, December 31, 2020 2019 none may Novovet and Luina Bio On April 26, 2019, December 31, 2015, C1 In consideration of the license granted pursuant to the Luina Bio Sub-License Agreement, Dyadic received a 20% equity interest in Novovet (“Novovet Up-Front Consideration”) in accordance with the terms of Novovet’s Shareholder Agreement (“Shareholders Agreement”) and will receive a percentage of royalties on future net sales and non-sales revenue, if any, which incorporates Dyadic’s proprietary C1 The Company evaluated the nature of its equity interest investment in Novovet and determined that Novovet is a VIE, because Novovet does not third not not not not To date Novovet has not not C1 not 606. C1 2021 Alphazyme On May 5, 2019, December 31, 2015, C1 On June 24, 2020, C1 C1 On December 1, 2020, The Company evaluated the nature of its equity interest investment in Alphazyme and determined that Alphazyme is a VIE due to the capital structure of the entity. However, the Company is not not not not For the year ended December 31, 2020, December 31, 2020, $284,709. IDBiologics, Inc. On July 8, 2020, 2017 2, Under the term of the IDBiologics Agreement, Dyadic agreed to receive 129,611 shares of IDBiologics’ common stock, which represent 0.37% of IDBiologics’ outstanding equity, in exchange for the services to be provided by Dyadic. Such services include the use of Dyadic’s C1 2 3 The Company evaluated the nature of its equity interest in IDBiologics and determined that IDBiologics is a VIE due to the capital structure of the entity. However, the Company is not not not No December 31, 2020 Serum Institute of India On May 7, 2019, C1 twelve C1 twelve first For the years ended December 31, 2020 2019

Note 4 - Income Taxes

Note 4 - Income Taxes	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 4: The Tax Cuts and Jobs Act (“TCJA”) was enacted on December 22, 2017 January 1, 2018. 35% 21% no December 31, 2019. The TCJA repealed the corporate AMT but permitted unused AMT credit carryforwards to be used to reduce the regular tax obligation in future years. Any AMT credit carryforwards that do not 50% 2018 2020, 100% 2021. March 2020, 2021 2018 2019, Accordingly, we reclassified the balance of the AMT credit from the deferred tax asset to an income tax receivable in 2018. 2019, 50% 2018. 2020, 50% 2019. For the year ended December 31, 2020, no The significant components of loss before income taxes are as follows: Years Ended December 31, 2020 2019 U.S. operations $ (9,246,122 ) $ (8,274,712 ) Foreign operations (47,833 ) (22,947 ) Total loss before provision for income taxes $ (9,293,955 ) $ (8,297,659 ) The Company has no current or deferred income tax for the years ended December 31, 2020 2019. The income tax provision differs from the expense amount that would result from applying the federal statutory rates to income before income taxes due to permanent differences, state income taxes and a change in the deferred tax valuation allowance. The reconciliation between the statutory tax rate and the Company’s actual effective tax rate is as follows: Years Ended December 31, 2020 2019 Tax at U.S. statutory rate (21.00 )% (21.00 )% State taxes, net of federal benefit (3.60 ) (4.61 ) Non-deductible items (0.45 ) (6.49 ) Change in valuation allowance 24.19 30.99 True-up adjustment 1.33 0.18 Foreign operations (0.13 ) (0.07 ) Change in tax rates — 1.00 Other (0.34 ) — Effective income tax rate — % — % The significant components of the Company’s net deferred income tax assets are as follows: December 31, 2020 2019 Stock option expense $ 689,600 $ 275,000 NOL carryforward 7,080,600 5,214,200 Research and development credits 1,656,500 1,656,500 Unrealized gain from investment in Alphazyme (69,800 ) — Other 7,900 4,400 Deferred tax asset, net of deferred tax liabilities 9,364,800 7,150,100 Valuation allowance (9,364,800 ) (7,150,100 ) Net deferred tax asset $ — $ — Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. In assessing the realizability of deferred tax assets, management evaluates whether it is more likely than not not December 31, 2020 2019 The Company had net operating loss (“NOL”) carryforwards available in 2020 2038. December 31, 2020 2019 As of December 31, 2020 2019 not On June 20, 2019, 2016 June 16, 2020, 2016 no Indian Tax Income generated in India is subject to Tax Deducted at Source (“TDS”), which is a means of collecting income tax at the source when income is generated rather than at a later date by the Indian government. The TDS amount paid can be used as foreign tax credit for US tax purposes. However, we do not December 31, 2020 2019

Note 5 - Commitments and Contin

Note 5 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 5: Leases Jupiter, Florida Headquarters The Company’s corporate headquarters are located in Jupiter, Florida. On June 30, 2020, August 13, 2020, September 1, 2020 August 31, 2021. The Netherlands Office The Company maintains a small satellite office in Wageningen, The Netherlands. The Company occupies a flexible office space for an annual rental rate of approximately $4,000. The lease expires on January 31, 2022, VTT Research Contract Extension On June 28, 2019, June 2022 €2.52 three C1 C1 third €450,000 October 25, 2019, €690,000 March 23, 2020, €700,000 19 Purchase Obligations The following table provides a schedule of commitments related to agreements to purchase certain services in the ordinary course of business, as of December 31, 2020 2021 $ 2,458,506 2022 771,075 2023 — Total $ 3,229,581 The purchase obligations in the table above are primarily related to our contracts with the Company’s contract research organizations to provide certain research services. The contracts set forth the Company’s minimum purchase requirements that are subject to adjustments based on certain performance conditions. All contracts expire in 2022. Legal Proceedings We are not one

Note 6 - Share-based Compensati

Note 6 - Share-based Compensation	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	Note 6: Description of Equity Plans The 2011 “2011 April 28, 2011 June 15, 2011. 2011 2006 “2006 2011 2011 no 2006 2011 2006 2006 not 2006 2011 January 1, 2019 2020. As of December 31, 2020 2011 December 31, 2019 2011 Stock Options Options are granted to purchase common stock at prices that are equal to the fair value of the common shares on the date the option is granted. Vesting is determined by the Board at the time of grant. The term of any stock option awards under the Company’s 2011 five two three The grant-date fair value of each option grant is estimated using the Black-Scholes option pricing model and amortized on a straight-line basis over the requisite service period, which is generally the vesting period, for each separately vesting portion of the award as if the award was, in substance, multiple awards. Use of a valuation model requires management to make certain assumptions with respect to selected model inputs, including the following: Risk-free interest rate Expected dividend yield not Expected stock price volatility. 2016, Expected life of option. 3years The assumptions used in the Black-Scholes option pricing model for stock options granted for the year ended December 31, 2020 2019 Years Ended December 31, 2020 2019 Risk-Free interest rate 0.25% - 1.72% 1.69% - 2.50% Expected dividend yield — % — % Expected stock price volatility 39.94% - 51.22% 28.59% - 37.29% Expected life of options (years) 1.75 - 6.25 Years 2 - 6.25 Years Discount for lack of marketability — % 0 - 8.48 % The following table summarizes the combined stock option activity under the Company’s Equity Compensation Plans: Weighted- Average Weighted- Remaining Aggregate Average Contractual Intrinsic Shares Exercise Price Term (Years) Value Outstanding at December 31, 2018 3,552,890 $ 1.57 5.06 $ 1,149,461 Granted 1,089,000 2.26 Exercised (781,500 ) 1.60 Expired — — Canceled — — Outstanding at December 31, 2019 3,860,390 $ 1.76 5.69 $ 13,287,932 Granted (1) 913,000 5.24 Exercised (2) (135,000 ) 1.89 Expired — — Canceled — — Outstanding at December 31, 2020 4,638,390 $ 2.44 5.64 $ 13,701,610 Exercisable at December 31, 2020 3,284,794 $ 1.78 4.47 $ 11,886,680 Notes: ( 1 • Annual share-based compensation awards on January 2, 2020, one four one four one • One-time awards on March 22, 2020, six ( 2 • A total of 135,000 stock options exercised with a weighted average market price of $1.89. The weighted average grant-date fair market value of stock options granted for the years ended December 31, 2020 2019 December 31, 2020 2019 As of December 31, 2020 2019 Compensation Expenses We recognize all share-based payments to employees, consultants, and our Board, as non-cash compensation expense, in research and development expenses or general and administrative expenses in the consolidated statement of operations, and these charges had no For performance-based awards, the Company recognizes related stock-based compensation expense based upon its determination of the potential likelihood of achievement of the specified performance conditions at each reporting date. For the year ended December 31, 2019 April 2019 December 31, 2020 Total non-cash stock option compensation expense was allocated among the following expense categories: Years Ended December 31, 2020 2019 General and administrative $ 1,466,461 $ 1,069,152 Research and development 185,432 101,927 Total $ 1,651,893 $ 1,171,079

Note 7 - Shareholders' Equity

Note 7 - Shareholders' Equity	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	Note 7: Issuances of Common Stock The shares of common stock issued for the years ended December 31, 2020 2019 Treasury Stock As of December 31, 2020 2019 Open Market Sale Agreement℠ On August 13, 2020, may We have not not may 415 4 1933, We will pay Jefferies a commission equal to 3.0% of the gross proceeds from each sale of shares of our common stock sold through Jefferies under the sale agreement and will provide Jefferies with customary indemnification and contribution rights. In addition, we agreed to reimburse certain legal expenses and fees by Jefferies in connection with the offering up to a maximum of $50,000, in addition to certain ongoing disbursements of Jefferies’ counsel, if required. The sale agreement will terminate upon the sale of all $50.0 million of shares under the sale agreement, unless earlier terminated by either party as permitted therein. The issuance and sale, if any, of shares of our common stock by us under the sale agreement will be made pursuant to a registration statement on Form S- 3 August 13, 2020 August 25, 2020 no no

Note 8 - Subsequent Events

Note 8 - Subsequent Events	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Subsequent Events [Text Block]	Note 8: Management continues to actively monitor the COVID- 19 For purpose of disclosure in the consolidated financial statements, the Company has evaluated subsequent events through March 30, 2021 not Stock Option Grant On January 4, 2021, one four On January 4, 2021, one On January 4, 2021, one On January 4, 2021, one On January 21, 2021, one On March 22, 2021, one Appointment of New Director On January 8, 2021, one

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Impact of COVID-19, Policy [Policy Text Block]	Impact of COVID- 19 The outbreak of COVID- 19 To date, some of our employees are still working remotely. The extent to which the COVID- 19 may 2 2 2 2 third 19 may may 19 not 19
Liquidity and Capital Resources, Policy [Policy Text Block]	Liquidity and Capital Resources We rely on our existing cash and cash equivalents, investments in debt securities, and operating cash flow to provide the working capital needs for our operations. We believe that we have sufficient cash, cash equivalents and investments to fund our operations for at least the next twelve not may C1 no
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The accompanying audited consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. Dyadic consolidates entities in which we have a controlling financial interest. We consolidate subsidiaries in which we hold and/or control, directly or indirectly, more than 50% Since concluding the DuPont Transaction, the Company has conducted business in one
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of these consolidated financial statements in accordance with GAAP requires management to make estimates and judgments that affect the reported amount of assets and liabilities and related disclosure of contingent assets and liabilities at the date of our consolidated financial statements and the reported amounts of revenues and expenses during the applicable period. Actual results may
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentrations and Credit Risk The Company’s financial instruments that are potentially subject to concentrations of credit risk consist primarily of cash and cash equivalents, investment securities, and accounts receivable. At times, the Company has cash, cash equivalents, and investment securities at financial institutions exceeding the Federal Depository Insurance Company (“FDIC”) and the Securities Investor Protection Corporation (“SIPC”) insured limit on domestic currency and the Netherlands FDIC counterpart for foreign currency. The Company only deals with reputable financial institutions and has not For the years ended December 31, 2020 2019 fourteen ten December 31, 2020 2019 nine five one The Company conducts operations in the Netherlands through its foreign subsidiary and generates a portion of its revenues from customers that are located outside of the United States. As of and for the year ended December 31, 2020 seven December 31, 2019 four The Company uses several contract research organizations (“CROs”) to conduct its research projects. For the years ended December 31, 2020 2019 one December 31, 2020 December 31, 2019
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents We treat highly liquid investments with original maturities of three
Investment, Policy [Policy Text Block]	Investment Securities The Company invests excess cash balances in short-term and long-term investment grade securities. Short-term investment securities mature within twelve 12 twelve 12 The Company’s investments in money market funds have been classified and accounted for as available-for-sale securities and presented as cash equivalents on the consolidated balance sheet. As of December 31, 2020 2019 not December 31, 2020 2019
Accounts Receivable [Policy Text Block]	Accounts Receivable Accounts receivable consist of billed receivables currently due from customers and unbilled receivables. Unbilled receivables represent the excess of contract revenue (or amounts reimbursable under contracts) over billings to date. Such amounts become billable in accordance with the contract terms, which usually consider the passage of time, achievement of certain milestones or completion of the project. Outstanding account balances are reviewed individually for collectability. The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in the Company’s existing accounts receivable. Substantially all of our accounts receivable were current and include unbilled amounts that will be billed and collected over the next twelve 12 December 31, 2020 2019 Accounts receivable consist of the following: December 31, 2020 2019 Billed receivable $ 130,532 $ 432,546 Unbilled receivable 163,667 125,984 $ 294,199 $ 558,530
Prepaid Expenses and Other Current Assets, Policy [Policy Text Block]	Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consist of the following: December 31, 2020 2019 Prepaid insurance $ 204,988 $ 173,890 Prepaid expenses - various 72,403 101,221 Prepaid taxes 3,164 2,888 $ 280,555 $ 277,999
Equity Method Investments [Policy Text Block]	Equity Method Investment The Company follows Accounting Standards Codification (“ASC”) Subtopic 323 10, not 3 Equity method investments are assessed for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment may not
Accounts Payable, Policy [Policy Text Block]	Accounts Payable Accounts payable consist of the following: December 31, 2020 2019 Research and development expenses $ 904,572 $ 766,001 Legal expenses 24,496 26,994 Other 84,031 150,383 $ 1,013,099 $ 943,378
Accrued Expenses, Policy [Policy Text Block]	Accrued Expenses Accrued expenses consist of the following: December 31, 2020 2019 Employee wages and benefits $ 447,881 $ 474,388 Research and development expenses 28,508 69,795 Other 13,367 21,820 $ 489,756 $ 566,003
Revenue from Contract with Customer [Policy Text Block]	Revenue Recognition The Company has no third may Revenue related to research collaborations and agreements: 5 606 606” 606 Under the input method, revenue will be recognized based on the entity’s efforts or inputs to the satisfaction of a performance obligation (e.g., resources consumed, labor hours expended, costs incurred, or time elapsed) relative to the total expected inputs to the satisfaction of that performance obligation. The Company believes that the cost-based input method is the best measure of progress to reflect how the Company transfers its performance obligation to a customer. In applying the cost-based input method of revenue recognition, the Company uses actual costs incurred relative to budgeted costs to fulfill the performance obligation. These costs consist primarily of full-time equivalent effort and third A cost-based input method of revenue recognition requires management to make estimates of costs to complete the Company’s performance obligations. In making such estimates, significant judgment is required to evaluate assumptions related to cost estimates. The cumulative effect of revisions to estimated costs to complete the Company’s performance obligations will be recorded in the period in which changes are identified and amounts can be reasonably estimated. A significant change in these assumptions and estimates could have a material impact on the timing and amount of revenue recognized in future periods. Revenue related to grants: may not 19 not third 2 Revenue related to sublicensing agreements: Milestone payments: not Royalties: not We invoice customers based on our contractual arrangements with each customer, which may not We are not one The Company adopted a practical expedient to expense sales commissions when incurred because the amortization period would be one
Research and Development Expense, Policy [Policy Text Block]	Research and Development Costs Research and development (“R&D”) costs are expensed as incurred. R&D costs are related to the Company’s internally funded pharmaceutical programs and other governmental and commercial projects. Research and development costs consist of personnel-related costs, facilities, research-related overhead, services from independent contract research organizations, and other external costs. Research and development costs, including related party, during the years ended December 31, 2020 2019 Years Ended December 31, 2020 2019 Outside contracted services $ 3,302,034 $ 2,578,507 Contracted services - related party — 868,720 Personnel related costs 531,405 423,898 Facilities, overhead and other 34,682 85,192 $ 3,868,121 $ 3,956,317
Provision for Contract Losses, Policy [Policy Text Block]	Provision for Contract Losses The Company assesses the profitability of our collaboration agreements to provide research services to our contracted business partners and identifies those contracts where current operating results or forecasts indicate probable future losses. If an anticipated contract cost exceeds anticipated contract revenue, a provision for the entire estimated loss on the contract is recorded and then accreted into the statement of operations over the remaining term of the contract. The provision for contract losses is based on judgment and estimates, including revenues and costs, where applicable, the consideration of our business partners’ reimbursement, and when such loss is deemed probable to occur and is reasonable to estimate.
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign Currency Transaction Gain or Loss The Company and its foreign subsidiary use the U.S. dollar as its functional currency, and initially measure the foreign currency denominated assets and liabilities at the transaction date. Monetary assets and liabilities are then re-measured at exchange rates in effect at the end of each period, and property and non-monetary assets and liabilities are converted at historical rates.
Fair Value Measurement, Policy [Policy Text Block]	Fair Value Measurements The Company applies fair value accounting for certain financial instruments that are recognized or disclosed at fair value in the financial statements. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three • Level 1 • Level 2 • Level 3 The Company’s financial instruments included cash and cash equivalents, investment in debt securities, accounts receivable, accounts payable and accrued expenses, accrued payroll and related liabilities, deferred research and development obligations and deposits. The carrying amount of these financial instruments, except for investment in debt securities, approximates fair value due to the short-term maturities of these instruments. The Company’s short-term and long-term investments in debt securities are recorded at amortized cost, and their estimated fair value amounts are provided by the third
Equity Securities without Readily Determinable Fair Value [Policy Text Block]	Non-Marketable Investments The Company also holds investments in non-marketable equity securities of privately-held companies, which usually do not may may may no may not may may not may not For the year ended December 31, 2020, third December 31, 2020, $284,709.
Income Tax, Policy [Policy Text Block]	Income Taxes The Company accounts for income taxes under the asset and liability method in accordance with ASC Topic 740, not not In determining taxable income for the Company’s consolidated financial statements, we are required to estimate income taxes in each of the jurisdictions in which we operate. This process requires the Company to make certain estimates of our actual current tax exposure and assessment of temporary differences between the tax and financial statement recognition of revenue and expense. In evaluating the Company’s ability to recover its deferred tax assets, the Company must consider all available positive and negative evidence including its past operating results, the existence of cumulative losses in the most recent years and its forecast of future taxable income. Significant management judgment is required in determining our provision for income taxes, deferred tax assets and liabilities and any valuation allowance recorded against our net deferred tax assets. The Company is required to evaluate the provisions of ASC 740 740 not not 740.
Comprehensive Income, Policy [Policy Text Block]	Comprehensive Income (Loss) Comprehensive income (loss) includes net income (loss) and other revenue, expenses, gains and losses that are recorded as an element of shareholders’ equity but are excluded from net income (loss) under U.S. GAAP. The Company does not not
Share-based Payment Arrangement [Policy Text Block]	Stock-Based Compensation We recognize all share-based payments to employees, consultants, and our Board of Directors (the “Board”), as non-cash compensation expense, in research and development expenses or general and administrative expenses in the consolidated statement of operations based on the grant date fair values of such payments. Stock-based compensation expense recognized each period is based on the value of the portion of share-based payment awards that is ultimately expected to vest during the period. Forfeitures are recorded as they occur. For performance-based awards, the Company recognizes related stock-based compensation expense based upon its determination of the potential likelihood of achievement of the specified performance conditions at each reporting date.
Earnings Per Share, Policy [Policy Text Block]	Net Loss Per Share Basic net loss per share is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding during the reporting period. Diluted net loss per share adjusts the weighted average number of common shares outstanding for the potential dilution that could occur if common stock equivalents, such as stock options, warrants, restricted stock and convertible debt, were exercised and converted into common stock, calculated by applying the treasury stock method. For the years ended December 31, 2020 2019
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Pronouncements In August 2018, 2018 13, 820 3 first 2020. not Recently Issued Accounting Pronouncements In June 2016, 2016 13, 326 2016 13 first 2023. not 2016 13 In December 2019, No. 2019 12, Income Taxes (Topic 740 2019 12 first 2021. Other pronouncements issued by the FASB or other authoritative accounting standards group with future effective dates are either not not

Note 1 - Organization and Sum_2

Note 1 - Organization and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	December 31, 2020 2019 Billed receivable $ 130,532 $ 432,546 Unbilled receivable 163,667 125,984 $ 294,199 $ 558,530
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]	December 31, 2020 2019 Prepaid insurance $ 204,988 $ 173,890 Prepaid expenses - various 72,403 101,221 Prepaid taxes 3,164 2,888 $ 280,555 $ 277,999
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	December 31, 2020 2019 Research and development expenses $ 904,572 $ 766,001 Legal expenses 24,496 26,994 Other 84,031 150,383 $ 1,013,099 $ 943,378
Schedule of Accrued Liabilities [Table Text Block]	December 31, 2020 2019 Employee wages and benefits $ 447,881 $ 474,388 Research and development expenses 28,508 69,795 Other 13,367 21,820 $ 489,756 $ 566,003
Schedule of Research and Development Costs [Table Text Block]	Years Ended December 31, 2020 2019 Outside contracted services $ 3,302,034 $ 2,578,507 Contracted services - related party — 868,720 Personnel related costs 531,405 423,898 Facilities, overhead and other 34,682 85,192 $ 3,868,121 $ 3,956,317

Note 2 - Cash, Cash Equivalen_2

Note 2 - Cash, Cash Equivalent, and Investments (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Cash, Cash Equivalents and Investments [Table Text Block]	December 31, 2020 Gross Gross Level Unrealized Unrealized (1) Fair Value Holding Gains Holding Losses Adjusted Cost Cash and Cash Equivalents Cash $ 149,015 $ — $ — $ 149,015 Money Market Funds 1 20,488,030 — — $ 20,488,030 Subtotal 20,637,045 — — 20,637,045 Short-Term Investment Securities (2) Corporate Bonds (4) 2 8,473,461 22,473 (6,463 ) $ 8,457,451 Total $ 29,110,506 $ 22,473 $ (6,463 ) $ 29,094,496 December 31, 2019 Gross Gross Level Unrealized Unrealized (1) Fair Value Holding Gains Holding Losses Adjusted Cost Cash and Cash Equivalents Cash $ 1,010,510 $ — $ — $ 1,010,510 Money Market Funds 1 3,813,034 — — 3,813,034 Subtotal 4,823,544 — — 4,823,544 Short-Term Investment Securities (2) Corporate Bonds (4) 2 29,387,053 5,898 (17,991 ) $ 29,399,146 Long-Term Investment Securities (3) Corporate Bonds (4) 2 1,528,190 16,554 — 1,511,636 Total $ 35,738,787 $ 22,452 $ (17,991 ) $ 35,734,326

Note 4 - Income Taxes (Tables)

Note 4 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]	Years Ended December 31, 2020 2019 U.S. operations $ (9,246,122 ) $ (8,274,712 ) Foreign operations (47,833 ) (22,947 ) Total loss before provision for income taxes $ (9,293,955 ) $ (8,297,659 )
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Years Ended December 31, 2020 2019 Tax at U.S. statutory rate (21.00 )% (21.00 )% State taxes, net of federal benefit (3.60 ) (4.61 ) Non-deductible items (0.45 ) (6.49 ) Change in valuation allowance 24.19 30.99 True-up adjustment 1.33 0.18 Foreign operations (0.13 ) (0.07 ) Change in tax rates — 1.00 Other (0.34 ) — Effective income tax rate — % — %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	December 31, 2020 2019 Stock option expense $ 689,600 $ 275,000 NOL carryforward 7,080,600 5,214,200 Research and development credits 1,656,500 1,656,500 Unrealized gain from investment in Alphazyme (69,800 ) — Other 7,900 4,400 Deferred tax asset, net of deferred tax liabilities 9,364,800 7,150,100 Valuation allowance (9,364,800 ) (7,150,100 ) Net deferred tax asset $ — $ —

Note 5 - Commitments and Cont_2

Note 5 - Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Long-term Purchase Commitment [Table Text Block]	2021 $ 2,458,506 2022 771,075 2023 — Total $ 3,229,581

Note 6 - Share-based Compensa_2

Note 6 - Share-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Years Ended December 31, 2020 2019 Risk-Free interest rate 0.25% - 1.72% 1.69% - 2.50% Expected dividend yield — % — % Expected stock price volatility 39.94% - 51.22% 28.59% - 37.29% Expected life of options (years) 1.75 - 6.25 Years 2 - 6.25 Years Discount for lack of marketability — % 0 - 8.48 %
Share-based Payment Arrangement, Option, Activity [Table Text Block]	Weighted- Average Weighted- Remaining Aggregate Average Contractual Intrinsic Shares Exercise Price Term (Years) Value Outstanding at December 31, 2018 3,552,890 $ 1.57 5.06 $ 1,149,461 Granted 1,089,000 2.26 Exercised (781,500 ) 1.60 Expired — — Canceled — — Outstanding at December 31, 2019 3,860,390 $ 1.76 5.69 $ 13,287,932 Granted (1) 913,000 5.24 Exercised (2) (135,000 ) 1.89 Expired — — Canceled — — Outstanding at December 31, 2020 4,638,390 $ 2.44 5.64 $ 13,701,610 Exercisable at December 31, 2020 3,284,794 $ 1.78 4.47 $ 11,886,680
Share-based Payment Arrangement, Activity [Table Text Block]	Years Ended December 31, 2020 2019 General and administrative $ 1,466,461 $ 1,069,152 Research and development 185,432 101,927 Total $ 1,651,893 $ 1,171,079

Note 1 - Organization and Sum_3

Note 1 - Organization and Summary of Significant Accounting Policies (Details Textual)	12 Months Ended
	Dec. 31, 2020USD ($)shares	Dec. 31, 2019USD ($)shares
Number of Research Organizations	2
Number of Operating Segments	1
Revenue from Contract with Customer, Excluding Assessed Tax, Total	$ 1,601,921	$ 1,681,076
Accounts Receivable, Allowance for Credit Loss, Ending Balance	$ 0	$ 0
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | shares	4,638,390	3,860,390
Alphazyme [Member]
Equity Securities without Readily Determinable Fair Value, Amount	$ 284,709
Customer Concentration Risk [Member] | Revenue Benchmark [Member]
Concentration Risk, Number of Customers	14	10
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Non-US [Member]
Concentration Risk, Number of Customers	7	4
Concentration Risk, Percentage	49.70%	71.50%
Revenue from Contract with Customer, Excluding Assessed Tax, Total	$ 796,000	$ 1,202,000
Customer Concentration Risk [Member] | Accounts Receivable [Member]
Concentration Risk, Number of Customers	9	5
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Non-US [Member]
Concentration Risk, Percentage	41.60%	69.50%
Revenue from Contract with Customer, Excluding Assessed Tax, Total	$ 123,000	$ 388,000
Customer Concentration Risk [Member] | Contract Research Organizations [Member]
Concentration Risk, Percentage	91.60%	86.60%
Customer Concentration Risk [Member] | Accounts Payable [Member] | Contract Research Organizations [Member]
Concentration Risk, Percentage	68.10%	74.90%
Accounts Payable, Total	$ 690,000	$ 706,000

Note 1 - Organization and Sum_4

Note 1 - Organization and Summary of Significant Accounting Policies - Accounts Receivable (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Accounts receivable	$ 294,199	$ 558,530
Billed Revenues [Member]
Accounts receivable	130,532	432,546
Unbilled Revenues [Member]
Accounts receivable	$ 163,667	$ 125,984

Note 1 - Organization and Sum_5

Note 1 - Organization and Summary of Significant Accounting Policies - Prepaid Expense and Other Current Assets (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Prepaid insurance	$ 204,988	$ 173,890
Prepaid expenses - various	72,403	101,221
Prepaid taxes	3,164	2,888
Prepaid Expense and Other Assets, Current	$ 280,555	$ 277,999

Note 1 - Organization and Sum_6

Note 1 - Organization and Summary of Significant Accounting Policies - Accounts Payable (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Research and development expenses	$ 904,572	$ 766,001
Legal expenses	24,496	26,994
Other	84,031	150,383
Accounts Payable, Current, Total	$ 1,013,099	$ 943,378

Note 1 - Organization and Sum_7

Note 1 - Organization and Summary of Significant Accounting Policies - Accrued Expenses (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Employee wages and benefits	$ 447,881	$ 474,388
Research and development expenses	28,508	69,795
Other	13,367	21,820
Accrued Liabilities, Current, Total	$ 489,756	$ 566,003

Note 1 - Organization and Sum_8

Note 1 - Organization and Summary of Significant Accounting Policies - Research and Development Costs (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Outside contracted services	$ 3,302,034	$ 2,578,507
Contracted services - related party	0	868,720
Personnel related costs	531,405	423,898
Facilities, overhead and other	34,682	85,192
Research And Development Expense, Including Related Party	$ 3,868,121	$ 3,956,317

Note 2 - Cash, Cash Equivalen_3

Note 2 - Cash, Cash Equivalent, and Investments (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Corporate Debt Securities [Member]
Debt Securities, Held-to-maturity, Premium Paid on Purchase	$ 282,946	$ 233,550

Note 2 - Cash, Cash Equivalen_4

Note 2 - Cash, Cash Equivalent, and Investments - Majority Security Type (Details) - USD ($)		Dec. 31, 2020	Dec. 31, 2019
Cash and cash equivalent, fair value		$ 20,637,045	$ 4,823,544
Cash, adjusted cost		149,015	1,010,510
Money Market Funds, adjusted cost		20,488,030	3,813,034
Cash and cash equivalents, adjusted cost		20,637,045	4,823,544
Gross Unrealized Holding Gains		22,473	22,452
Gross Unrealized Holding Losses		(6,463)	(17,991)
Short-term investment securities		8,457,452	29,399,146
Total, fair value		29,110,506	35,738,787
Total, adjusted		29,094,496	35,734,326
Long-term investment securities		0	1,511,636
Corporate Bond Securities [Member]
Short-term investment securities	[1],[2]	8,457,451	29,399,146
Long-term investment securities	[2],[3]		1,511,636
Fair Value, Inputs, Level 2 [Member] | Short-term Corporate Bonds [Member]
Gross Unrealized Holding Gains	[1],[2]	22,473	5,898
Fair Value, Inputs, Level 2 [Member] | Long- term Corporate Bonds [Member]
Gross Unrealized Holding Gains	[2],[3]		16,554
Cash [Member]
Cash and cash equivalent, fair value		149,015	1,010,510
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalent, fair value		20,488,030	3,813,034
Short-term Corporate Bonds [Member] | Fair Value, Inputs, Level 2 [Member]
Corporate Bonds, fair value	[1],[2]	8,473,461	29,387,053
Gross Unrealized Holding Losses	[1],[2]	$ (6,463)	(17,991)
Long- term Corporate Bonds [Member] | Fair Value, Inputs, Level 2 [Member]
Corporate Bonds, fair value	[2],[3]		1,528,190
Gross Unrealized Holding Losses	[2],[3]		$ 0
[1]	Short-term investment securities will mature within 12 months or less, from the applicable reporting date.
[2]	The premium paid to purchase held-to-maturity investment securities was $282,946 and $233,550 for the years ended December 31, 2020 and 2019, respectively.
[3]	Long-term investment securities will mature longer than 12 months from the applicable reporting date.

Note 3 - Research and Collabo_2

Note 3 - Research and Collaboration Agreements, Sublicense Agreement and Investments in Privately Held Companies (Details Textual) € in Millions	Jun. 24, 2020	May 07, 2019	Jun. 30, 2017USD ($)	Jun. 30, 2017EUR (€)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 01, 2020	Jul. 08, 2020shares	Apr. 26, 2019	Jun. 30, 2017EUR (€)
Collaborative Arrangement, Duration Of Agreement (Year)			2 years	2 years
Collaborative Arrangement, Payment for Research and Development Agreement			$ 1,100,000	€ 1
Research and Development Expense, Related Party					$ 0	$ 868,720
Collaborative Arrangement [Member] | Serum [Member]
Collaborative Arrangement, Number of Antibodies and Vaccines For Development and Commercialization		12
Collaborative Arrangement, Option to Obtain Exclusive Commercial Sub-License For Number of Proteins		12
Collaborative Arrangement, Research Funding, Milestone Payments And Royalties, Period (Year)		15 years
Revenue from Collaborative Arrangement, Recognized					244,000	$ 118,000
Novovet [Member]
Equity Method Investment, Ownership Percentage									20.00%
Alphazyme [Member]
Sale of Stock, Percentage of Ownership after Transaction	2.50%
Equity Securities without Readily Determinable Fair Value, Amount					$ 284,709
Research Services Agreement [Member]
Collaborative Arrangement, Payment for Additional Development and Commercialization | €										€ 1.5
Service Framework Agreement [Member]
Collaborative Arrangement, Duration Of Agreement (Year)			2 years	2 years
Collaborative Arrangement, Minimum Obligation For Research and Development			$ 1,000,000
Collaborative Arrangement, Outstanding Commitment			$ 1,000,000
Alphazyme [Member]
Ownership Percentage							1.99%
ID Biologics Inc [Member]
Collaborative Arrangement, Number of Shares To Be Received (in shares) | shares								129,611
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners								0.37%
ID Biologics Inc [Member] | Share-based Payment Arrangement, Tranche One [Member]
Collaborative Arrangement, Vesting Percentages								50.00%
ID Biologics Inc [Member] | Share-based Payment Arrangement, Tranche Two [Member]
Collaborative Arrangement, Vesting Percentages								25.00%
ID Biologics Inc [Member] | Share-based Payment Arrangement, Tranche Three [Member]
Collaborative Arrangement, Vesting Percentages								25.00%
Research Services Agreement [Member]
Collaborative Arrangement, Payment for Research and Development Agreement | €				€ 1
Research Services Agreement [Member] | BDI Holdings [Member]
Collaborative Arrangement, Duration Of Agreement (Year)			2 years	2 years
Collaborative Arrangement, Equity Interest Acquired			16.10%	16.10%
Collaborative Arrangement, Minimum Obligation For Research and Development			$ 936,000
Collaborative Arrangement, Maximum Obligation For Research and Development | €										8
Research Services Agreement [Member] | BDI Holdings [Member] | Minimum [Member]
Collaborative Arrangement, Minimum Obligation For Research and Development | €										€ 1
Collaborative Arrangement, Revenue Sharing, Percentage			50.00%	50.00%
Research Services Agreement [Member] | BDI Holdings [Member] | Maximum [Member]
Collaborative Arrangement, Revenue Sharing, Percentage			75.00%	75.00%
Research Services Agreement [Member] | VL Pbio Member
Collaborative Arrangement, Equity Interest Acquired			3.30%	3.30%

Note 4 - Income Taxes (Details

Note 4 - Income Taxes (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Tax Cuts and Jobs Act, Change In Alternative Minimum Tax, Income Tax Benefit	$ 1,001,233
Proceeds from Income Tax Refunds	500,616	$ 506,866	$ 500,000
Current Income Tax Expense (Benefit), Total	0	0
Deferred Income Tax Expense (Benefit), Total	0	0
Operating Loss Carryforwards, Total	27,300,000	19,700,000
Unrecognized Tax Benefits, Ending Balance	0
Ministry of Finance, India [Member]
Foreign Income Tax Expense (Benefit), Continuing Operations, Total	$ 31,000	$ 10,000

Note 4 - Income Taxes - Compone

Note 4 - Income Taxes - Components of Loss Before Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
U.S. operations	$ (9,246,122)	$ (8,274,712)
Foreign operations	(47,833)	(22,947)
Loss before income taxes	$ (9,293,955)	$ (8,297,659)

Note 4 - Income Taxes - Reconci

Note 4 - Income Taxes - Reconciliation Between Statutory Tax Rate (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Tax at U.S. statutory rate	(21.00%)	(21.00%)
State taxes, net of federal benefit	(3.60%)	(4.61%)
Non-deductible items	(0.45%)	(6.49%)
Change in valuation allowance	24.19%	30.99%
True-up adjustment	1.33%	0.18%
Foreign operations	(0.13%)	(0.07%)
Change in tax rates	0.00%	1.00%
Other	(0.34%)	0.00%
Effective income tax rate	0.00%	0.00%

Note 4 - Income Taxes - Compo_2

Note 4 - Income Taxes - Component of Deferred Tax Assets (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Stock option expense	$ 689,600	$ 275,000
NOL carryforward	7,080,600	5,214,200
Research and development credits	1,656,500	1,656,500
Unrealized gain from investment in Alphazyme	(69,800)	0
Other	7,900	4,400
Deferred tax asset, net of deferred tax liabilities	9,364,800	7,150,100
Valuation allowance	(9,364,800)	(7,150,100)
Net deferred tax asset	$ 0	$ 0

Note 5 - Commitments and Cont_3

Note 5 - Commitments and Contingencies (Details Textual)	Aug. 13, 2020USD ($)ft²	Jun. 30, 2020USD ($)ft²	Mar. 23, 2020EUR (€)	Oct. 25, 2019EUR (€)	Jun. 28, 2019EUR (€)	Dec. 31, 2020USD ($)
VTT Technical Research Centre of Finland Ltd [Member]
Commitment Development Period (Year)					3 years
Commitment Success Bonus Award					€ 450,000
Commitment To Pay, Expanded				€ 690,000
Commitment To Pay, Expanded, Period (Year)				1 year 6 months
Commitment To Pay, Additional			€ 700,000
Commitments, Right To Terminate Contract Notice Period (Day)			90 days
Jupiter Florida Headqauarters Lease [Member]
Area of Real Estate Property (Square Foot) | ft²	2,000	4,900
Operating Leases, Monthly Rental Rate | $	$ 4,200	$ 9,700
Netherlands Office Lease [Member]
Operating Leases, Annual Rental Rate | $						$ 4,000
Commitment To Pay					€ 2,520,000

Note 5 - Commitments and Cont_4

Note 5 - Commitments and Contingencies - Purchase Obligations (Details)	Dec. 31, 2020USD ($)
2021	$ 2,458,506
2022	771,075
2023	0
Total	$ 3,229,581

Note 6 - Share-based Compensa_3

Note 6 - Share-based Compensation (Details Textual) - USD ($)	Mar. 22, 2020	Jan. 02, 2020	Jan. 01, 2019	Dec. 31, 2020		Dec. 31, 2019	Dec. 31, 2018	Apr. 28, 2011
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares)				4,638,390		3,860,390	3,552,890
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)				913,000	[1]	1,089,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)				$ 5.24	[1]	$ 2.26
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares)				135,000	[2]	781,500
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price (in dollars per share)				$ 1.89	[2]	$ 1.60
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)				$ 2.09		$ 0.69
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value				$ 481,139		$ 2,925,662
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount				$ 477,232		$ 222,330
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)				2 years 10 months 2 days		1 year 9 months 29 days
Share-based Payment Arrangement, Expense				$ 1,651,893		$ 1,171,079
Contractor [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)	25,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)	$ 3.99
Executives and Key Personnel [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)		525,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)		$ 5.27
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period (Year)		1 year
Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)		325,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)		$ 5.27
Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)		23,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)		$ 5.27
Consultant [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)		15,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)		$ 5.27
Share-based Payment Arrangement, Option [Member] | Contractor [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	6 months
Share-based Payment Arrangement, Option [Member] | Executives and Key Personnel [Member] | Share-based Compensation Award Tranche Two through Five [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)		4 years
Share-based Payment Arrangement, Option [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)		1 year
Share-based Payment Arrangement, Option [Member] | Employees [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)		4 years
Share-based Payment Arrangement, Option [Member] | Consultant [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)		1 year
Performance Shares [Member]
Share-based Payment Arrangement, Expense				$ 0		$ 483,000
A 2011 Plan [Member]
Common Stock, Capital Shares Reserved for Future Issuance (in shares)								3,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in shares)			1,500,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares)				4,638,390		3,860,390
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)				2,134,211		1,547,211
A 2011 Plan [Member] | Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)				10 years
A 2011 Plan [Member] | Share-based Payment Arrangement, Option [Member] | Share-based Payment Arrangement, Tranche One [Member] | Contractor [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term (Year)				2 years
A 2011 Plan [Member] | Share-based Payment Arrangement, Option [Member] | Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)				3 years
A 2011 Plan [Member] | Share-based Payment Arrangement, Option [Member] | Chief Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)				5 years
A 2011 Plan [Member] | Share-based Payment Arrangement, Option [Member] | Chief Executive Officer [Member] | Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term (Year)				5 years
A 2011 Plan [Member] | Share-based Payment Arrangement, Option [Member] | Chief Executive Officer [Member] | Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term (Year)				10 years
A 2011 Plan [Member] | Share-based Payment Arrangement, Option [Member] | Contractor [Member] | Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)				2 years
A 2011 Plan [Member] | Share-based Payment Arrangement, Option [Member] | Contractor [Member] | Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term (Year)				3 years
[1]	Represents the following stock options granted: Annual share-based compensation awards on January 2, 2020, including: (a) 525,000 stock options with an exercise price of $5.27 per share granted to executives and key personnel, vesting upon one year anniversary, or annually in equal installments over four years,(b) 325,000 stock options with an exercise price of $5.27 per share granted to members of the Board of Directors, vesting upon one year anniversary, (c) 23,000 stock options with an exercise price of $5.27 per share granted to employees, vesting annually in equal installments over four years, and (d) 15,000 stock options with an exercise price of $5.27 per share granted to a consultant, vesting upon one year anniversary. One-time awards on March 22, 2020, including 25,000 stock options to a contractor with an exercise price of $3.99 per share, vesting in six months from the date of grant.
[2]	Represents the following stock options exercised: A total of 135,000 stock options exercised with a weighted average market price of $1.89.

Note 6 - Share-based Compensa_4

Note 6 - Share-based Compensation - Black-Scholes Options Pricing Model (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Risk-Free interest rate, minimum	0.25%	1.69%
Risk-Free interest rate, maximum	1.72%	2.50%
Expected dividend yield	0.00%	0.00%
Expected stock price volatility, minimum	39.94%	28.59%
Expected stock price volatility, maximum	51.22%	37.29%
Discount for lack of marketability	0.00%
Minimum [Member]
Discount for lack of marketability		0.00%
Maximum [Member]
Discount for lack of marketability		8.48%

Note 6 - Share-based Compensa_5

Note 6 - Share-based Compensation - Stock Option Activity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020		Dec. 31, 2019	Dec. 31, 2018
Outstanding, shares (in shares)	3,860,390		3,552,890
Outstanding, weighted average exercise price (in dollars per share)	$ 1.76		$ 1.57
Weighted-average remaining contractual term, outstanding (Year)	5 years 7 months 20 days		5 years 8 months 8 days	5 years 21 days
Aggregate intrinsic value, outstanding	$ 13,701,610		$ 13,287,932	$ 1,149,461
Granted, shares (in shares)	913,000	[1]	1,089,000
Granted, weighted average exercise price (in dollars per share)	$ 5.24	[1]	$ 2.26
Exercised, shares (in shares)	(135,000)	[2]	(781,500)
Exercised, weighted average exercise price (in dollars per share)	$ 1.89	[2]	$ 1.60
Expired, shares (in shares)	0		0
Expired, weighted average exercise price (in dollars per share)	$ 0		$ 0
Canceled, shares (in shares)	0		0
Canceled, weighted average exercise price (in dollars per share)	$ 0		$ 0
Outstanding, shares (in shares)	4,638,390		3,860,390	3,552,890
Outstanding, weighted average exercise price (in dollars per share)	$ 2.44		$ 1.76	$ 1.57
Exercisable, shares (in shares)	3,284,794
Exercisable, weighted average exercise price (in dollars per share)	$ 1.78
Weighted-average remaining contractual term, exercisable (Year)	4 years 5 months 19 days
Aggregate intrinsic value, exercisable	$ 11,886,680
[1]	Represents the following stock options granted: Annual share-based compensation awards on January 2, 2020, including: (a) 525,000 stock options with an exercise price of $5.27 per share granted to executives and key personnel, vesting upon one year anniversary, or annually in equal installments over four years,(b) 325,000 stock options with an exercise price of $5.27 per share granted to members of the Board of Directors, vesting upon one year anniversary, (c) 23,000 stock options with an exercise price of $5.27 per share granted to employees, vesting annually in equal installments over four years, and (d) 15,000 stock options with an exercise price of $5.27 per share granted to a consultant, vesting upon one year anniversary. One-time awards on March 22, 2020, including 25,000 stock options to a contractor with an exercise price of $3.99 per share, vesting in six months from the date of grant.
[2]	Represents the following stock options exercised: A total of 135,000 stock options exercised with a weighted average market price of $1.89.

Note 6 - Share-based Compensa_6

Note 6 - Share-based Compensation - Noncash Stock Option Compensation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Stock-based compensation	$ 1,651,893	$ 1,171,079
General and Administrative Expense [Member]
Stock-based compensation	1,466,461	1,069,152
Research and Development Expense [Member]
Stock-based compensation	$ 185,432	$ 101,927

Note 7 - Shareholders' Equity (

Note 7 - Shareholders' Equity (Details Textual) - USD ($)	Aug. 13, 2020	Dec. 31, 2020		Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares)		135,000	[1]	781,500
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price (in dollars per share)		$ 1.89	[1]	$ 1.60
Treasury Stock, Common, Shares (in shares)		12,253,502		12,253,502
Treasury Stock, Value, Ending Balance		$ 18,929,915		$ 18,929,915
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.001	$ 0.001		$ 0.001
Open Market Sale Agreement [Member]
Sale of Stock, Authorized Offering Amount	$ 50,000,000
Sale of Stock, Percentage of Commissions Paid of Gross Proceeds From Sale Of Each Share	3.00%
Sale of Stock, Reimbursable Legal Expenses	$ 50,000
Sale of Stock, Termination Amount Under Agreement	$ 50,000,000
Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares)		135,000		645,671
[1]	Represents the following stock options exercised: A total of 135,000 stock options exercised with a weighted average market price of $1.89.

Note 8 - Subsequent Events (Det

Note 8 - Subsequent Events (Details Textual) - USD ($)	Mar. 22, 2021	Jan. 21, 2021	Jan. 08, 2021	Jan. 04, 2021	Jan. 02, 2020	Dec. 31, 2020	[1]	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)						913,000		1,089,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)						$ 5.24		$ 2.26
Executives and Key Personnel [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)					525,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)					$ 5.27
Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)					325,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)					$ 5.27
Director [Member] | Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)					1 year
Consultant [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)					15,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)					$ 5.27
Consultant [Member] | Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)					1 year
Subsequent Event [Member] | Executives and Key Personnel [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)				417,500
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)				$ 5.16
Subsequent Event [Member] | Executives and Key Personnel [Member] | Share-based Payment Arrangement, Option [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)				1 year
Subsequent Event [Member] | Executives and Key Personnel [Member] | Share-based Payment Arrangement, Option [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)				4 years
Subsequent Event [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)			35,000	227,500
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)			$ 5.50	$ 5.16
Salary and Wage, Officer, Excluding Cost of Good and Service Sold			$ 60,000
Subsequent Event [Member] | Director [Member] | Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)			1 year	1 year
Subsequent Event [Member] | Nonexecutive Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)				23,325
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)				$ 5.16
Subsequent Event [Member] | Nonexecutive Employees [Member] | Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)				1 year
Subsequent Event [Member] | Consultant [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)	30,000	7,500		5,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)	$ 6.87	$ 5.65		$ 5.16
Subsequent Event [Member] | Consultant [Member] | Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	1 year	1 year		1 year
[1]	Represents the following stock options granted: Annual share-based compensation awards on January 2, 2020, including: (a) 525,000 stock options with an exercise price of $5.27 per share granted to executives and key personnel, vesting upon one year anniversary, or annually in equal installments over four years,(b) 325,000 stock options with an exercise price of $5.27 per share granted to members of the Board of Directors, vesting upon one year anniversary, (c) 23,000 stock options with an exercise price of $5.27 per share granted to employees, vesting annually in equal installments over four years, and (d) 15,000 stock options with an exercise price of $5.27 per share granted to a consultant, vesting upon one year anniversary. One-time awards on March 22, 2020, including 25,000 stock options to a contractor with an exercise price of $3.99 per share, vesting in six months from the date of grant.