Dyadic International (DYAI) 10-Q 10 Aug 22 2022 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Aug. 09, 2022
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	Q2
Document Fiscal Year Focus	2022
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
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
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
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	DYAI
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		28,423,100

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 9,476,412	$ 15,748,480
Short-term investment securities	6,163,833	4,511,780
Interest receivable	42,237	94,375
Accounts receivable	1,145,451	277,831
Prepaid expenses and other current assets	104,831	375,830
Total current assets	16,932,764	21,008,296
Non-current assets:
Investment in Alphazyme	284,709	284,709
Other assets	6,024	6,117
Total assets	17,223,497	21,299,122
Current liabilities:
Accounts payable	1,095,208	1,547,953
Accrued expenses	1,224,338	709,560
Deferred research and development obligations	901,331	151,147
Deferred license revenue, current portion	176,471	147,059
Total current liabilities	3,397,348	2,555,719
Deferred license revenue, net of current portion	264,706	352,941
Total liabilities	3,662,054	2,908,660
Commitments and contingencies (Note 4)
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 - 40,332,659 and 39,747,659, outstanding shares - 28,079,157 and 27,494,157 as of June 30, 2021, and December 31, 2020, respectively	40,518	40,483
Additional paid-in capital	101,977,102	101,026,496
Treasury stock, shares held at cost - 12,253,502	(18,929,915)	(18,929,915)
Accumulated deficit	(69,526,262)	(63,746,602)
Total stockholders’ equity	13,561,443	18,390,462
Total liabilities and stockholders’ equity	$ 17,223,497	$ 21,299,122

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
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)	40,517,659	40,482,659
Common stock, shares outstanding (in shares)	28,264,157	28,229,157
Treasury stock (in shares)	12,253,502	12,253,502

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues:
Total revenue	$ 658,553	$ 937,092	$ 1,306,980	$ 1,397,612
Costs and expenses:
Costs of research and development revenue	411,109	829,504	815,855	1,220,266
Research and development	1,830,798	2,209,242	3,173,660	4,017,340
General and administrative	1,714,029	1,747,614	3,369,729	3,301,621
Foreign currency exchange loss, net	20,621	17,806	10,373	46,078
Total costs and expenses	3,976,557	4,804,166	7,369,617	8,585,305
Loss from operations	(3,318,004)	(3,867,074)	(6,062,637)	(7,187,693)
Other income:
Interest income	30,009	20,900	32,977	46,570
Other income	0	0	250,000	0
Total other income	30,009	20,900	282,977	46,570
Net loss	$ (3,287,995)	$ (3,846,174)	$ (5,779,660)	$ (7,141,123)
Basic and diluted net loss per common share (in dollars per share)	$ (0.12)	$ (0.14)	$ (0.20)	$ (0.26)
Basic and diluted weighted-average common shares outstanding (in shares)	28,264,157	27,645,366	28,257,776	27,589,627
Research and Development [Member]
Revenues:
Total revenue	$ 614,435	$ 937,092	$ 1,148,156	$ 1,397,612
License [Member]
Revenues:
Total revenue	$ 44,118	$ 0	$ 158,824	$ 0

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Outstanding (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
Stock-based compensation expense	$ 0	$ 0	421,071	0	421,071
Issuance of common stock upon exercise of stock options (in shares)	60,000	0
Issuance of common stock upon exercise of stock options	$ 60	$ 0	115,740	0	115,800
Net loss	$ 0	$ 0	0	(3,294,949)	(3,294,949)
Outstanding (in shares) at Mar. 31, 2021	39,807,659	(12,253,502)
Balance at Mar. 31, 2021	$ 39,808	$ (18,929,915)	98,549,890	(53,971,300)	25,688,483
Outstanding (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
Issuance of common stock upon exercise of stock options (in shares)	585,000
Net loss					(7,141,123)
Outstanding (in shares) at Jun. 30, 2021	40,332,659	(12,253,502)
Balance at Jun. 30, 2021	$ 40,333	$ (18,929,915)	99,865,825	(57,817,474)	23,158,769
Outstanding (in shares) at Mar. 31, 2021	39,807,659	(12,253,502)
Balance at Mar. 31, 2021	$ 39,808	$ (18,929,915)	98,549,890	(53,971,300)	25,688,483
Stock-based compensation expense	$ 0	$ 0	446,120	0	446,120
Issuance of common stock upon exercise of stock options (in shares)	525,000	0
Issuance of common stock upon exercise of stock options	$ 525	$ 0	869,815	0	870,340
Net loss	$ 0	$ 0	0	(3,846,174)	(3,846,174)
Outstanding (in shares) at Jun. 30, 2021	40,332,659	(12,253,502)
Balance at Jun. 30, 2021	$ 40,333	$ (18,929,915)	99,865,825	(57,817,474)	23,158,769
Outstanding (in shares) at Dec. 31, 2021	40,482,659	(12,253,502)
Balance at Dec. 31, 2021	$ 40,483	$ (18,929,915)	101,026,496	(63,746,602)	18,390,462
Stock-based compensation expense	$ 0	$ 0	453,791	0	453,791
Issuance of common stock upon exercise of stock options (in shares)	35,000	0
Issuance of common stock upon exercise of stock options	$ 35	$ 0	42,315	0	42,350
Net loss	$ 0	$ 0	0	(2,491,665)	(2,491,665)
Outstanding (in shares) at Mar. 31, 2022	40,517,659	(12,253,502)
Balance at Mar. 31, 2022	$ 40,518	$ (18,929,915)	101,522,602	(66,238,267)	16,394,938
Outstanding (in shares) at Dec. 31, 2021	40,482,659	(12,253,502)
Balance at Dec. 31, 2021	$ 40,483	$ (18,929,915)	101,026,496	(63,746,602)	$ 18,390,462
Issuance of common stock upon exercise of stock options (in shares)	35,000				35,000
Net loss					$ (5,779,660)
Outstanding (in shares) at Jun. 30, 2022	40,517,659	(12,253,502)
Balance at Jun. 30, 2022	$ 40,518	$ (18,929,915)	101,977,102	(69,526,262)	13,561,443
Outstanding (in shares) at Mar. 31, 2022	40,517,659	(12,253,502)
Balance at Mar. 31, 2022	$ 40,518	$ (18,929,915)	101,522,602	(66,238,267)	16,394,938
Stock-based compensation expense	0	0	454,500	0	454,500
Net loss	$ 0	$ 0	0	(3,287,995)	(3,287,995)
Outstanding (in shares) at Jun. 30, 2022	40,517,659	(12,253,502)
Balance at Jun. 30, 2022	$ 40,518	$ (18,929,915)	$ 101,977,102	$ (69,526,262)	$ 13,561,443

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities
Net loss	$ (5,779,660)	$ (7,141,123)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	908,291	867,191
Amortization of held-to-maturity securities, net	25,217	159,481
Foreign currency exchange loss (gain), net	10,372	46,079
Changes in operating assets and liabilities:
Interest receivable	52,138	(51,066)
Accounts receivable	(890,686)	(36,049)
Prepaid expenses and other current assets	273,288	179,617
Accounts payable	(430,899)	1,427,809
Accrued expenses	514,778	104,546
Deferred research and development obligation	750,184	135,732
Deferred license revenue	(58,823)	0
Net cash used in operating activities	(4,625,800)	(4,307,783)
Cash flows from investing activities
Purchases of held-to-maturity investment securities	(6,177,270)	(11,283,940)
Proceeds from maturities of investment securities	4,500,000	8,000,000
Net cash used in investing activities	(1,677,270)	(3,283,940)
Cash flows from financing activities
Proceeds from exercise of options	42,350	986,140
Net cash provided by financing activities	42,350	986,140
Effect of exchange rate changes on cash	(11,348)	(12,636)
Net decrease in cash and cash equivalents	(6,272,068)	(6,618,219)
Cash and cash equivalents at beginning of period	15,748,480	20,637,045
Cash and cash equivalents at end of period	$ 9,476,412	$ 14,018,826

Note 1 - Organization and Summa

Note 1 - Organization and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Basis of Presentation and Significant Accounting Policies [Text Block]	Note 1: Organization and Summary of Significant Accounting Policies Description of Business Dyadic International, Inc. (“Dyadic”, “we”, “us”, “our”, or the “Company”) is a global biotechnology company based in Jupiter, Florida with operations in the United States and a satellite office in the Netherlands, and it utilizes a number of third The Company’s proprietary gene expression and protein production platforms are based on the highly productive and scalable fungus Thermothelomyces heterothallica ( formerly Myceliophthora thermophila). C1 C1 TM On December 31, 2015, C1 C1 may The Company has been focused on the animal and human biopharmaceutical industries, specifically in further improving and applying the proprietary C1 The Company’s lead asset, DYAI- 100, C1 2 C1 19. 1 2022 C1 2 Impact of COVID- 19 The outbreak of COVID- 19 The extent to which the COVID- 19 may 2 2 2 third 19 may may not 19 may Liquidity and Capital Resources We rely on our existing cash and cash equivalents, investments in debt securities, and operating cash flows to provide the working capital needs for our operations. We believe that our existing cash position and investment in investment grade securities will be adequate to meet our operational, business, and other liquidity requirements for at least the next twelve 12 not 100 1 C1 no 100 1 Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements, including the accounts of the Company and its wholly owned subsidiaries, have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and footnote disclosures normally included in consolidated financial statements have been condensed or omitted pursuant to such rules and regulations. All significant intra-entity transactions and balances have been eliminated in consolidation. The information included in this Quarterly Report on Form 10 December 31, 2021, 10 March 29, 2022. In the opinion of management, the accompanying unaudited interim consolidated financial statements reflect all adjustments, which are of a normal recurring nature, considered necessary for a fair presentation of all periods presented. The results of the Company’s operations for any interim periods are not Since concluding the DuPont Transaction, the Company has conducted business in one operating segment, which is identified by the Company based on how resources are allocated, and operating decisions are made. Management evaluates performance and allocates resources based on the Company as a whole. 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 three June 30, 2022 2021 six June 30, 2022 2021 d from eleven and thirteen customers, respectively. As of June 30, 2022 and December 31, 2021 , the Company’s accounts receivable was from nine and eight customers, respectively. The loss of business from 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. For the three June 30, 2022 2021 , the Company had and customers outside of the United States (i.e., European and Asian customers) that accounted for approximately or and or of the revenue, respectively. For the six months ended June 30, 2022 2021 , the Company had and customers outside of the United States that accounted for approximately or and or of the revenue, respectively. As of June 30, 2022 , the Company had customers outside of the United States (i.e., European and Asian customers) that accounted for approximately or of accounts receivable. As of December 31, 2021 , the Company had four customers outside of the United States that accounted for approximately or of accounts receivable. The Company uses several contract research organizations (“CROs”) to conduct its research projects. For the three June 30, 2022 2021 , CROs accounted for approximately or and or of total research services we purchased, respectively. For the six June 30, 2022 2021 , and CROs accounted for approximately $2,794,000 or 96.5% and or of total research services we purchased, respectively. As of June 30, 2022 and December 31, 2021 , two CROs accounted for approximately or and approximately $1,312,000 or 84.8% of the accounts payable, respectively. The loss of one 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 As of June 30, 2022 December 31, 2021, not June 30, 2022 December 31, 2021 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 June 30, 2022 December 31, 2021 Accounts receivable consist of the following: June 30, 2022 December 31, 2021 (Unaudited) (Audited) Billed receivable $ 794,428 $ 101,175 Unbilled receivable 351,023 176,656 $ 1,145,451 $ 277,831 Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consist of the following: June 30, 2022 December 31, 2021 (Unaudited) (Audited) Prepaid expenses - other $ 69,464 $ 45,839 Prepaid insurance 29,518 326,712 Prepaid research and development expenses 5,564 — Prepaid taxes 285 3,279 $ 104,831 $ 375,830 Accounts Payable Accounts payable consist of the following: June 30, 2022 December 31, 2021 (Unaudited) (Audited) Research and development expenses $ 896,760 $ 1,363,889 Legal expenses 95,597 27,675 Other 102,851 156,389 $ 1,095,208 $ 1,547,953 Accrued Expenses Accrued expenses consist of the following: June 30, 2022 December 31, 2021 (Unaudited) (Audited) Research and development expenses $ 833,517 $ 194,250 Employee wages and benefits 309,203 405,758 Other 81,618 109,552 $ 1,224,338 $ 709,560 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: Customer options: 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 for 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 three six June 30, 2022 2021 Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Outside contracted services $ 1,616,605 $ 2,036,753 $ 2,752,161 $ 3,695,947 Personnel related costs 199,475 149,587 406,265 297,749 Facilities, overhead and other 14,718 22,902 15,234 23,644 $ 1,830,798 $ 2,209,242 $ 3,173,660 $ 4,017,340 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 Income Taxes For the six June 30, 2022 no June 30, 2022 December 31, 2021 y $15.7 million June 30, 2022 December 31, 2021 Other Income The other income recognized during the six June 30, 2022 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 GAAP. The Company does not not Stock-Based Compensation We recognize all share-based payments to employees, consultants, and our board of directors (“Board of Directors”), 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. 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 stock shares outstanding during the reporting period. Diluted net loss per share adjusts the weighted average number of common stock shares outstanding for the potential dilution that could occur if common stock equivalents, such as stock options were exercised and converted into common stock, calculated by applying the treasury stock method. For the three six June 30, 2022 2021 Recently Adopted Accounting Pronouncements In June 2016, 2016 13, Financial Instruments - Credit Losses (Topic 326 2016 13 first 2023. not 2016 13 In December 2019, No. 2019 12, Income Taxes (Topic 740 2019 12 January 1, 2021, 2019 12 not Other pronouncements issued by the FASB or other authoritative accounting standards group with future effective dates are either not not

Note 2 - Cash, Cash Equivalents

Note 2 - Cash, Cash Equivalents, and Investments	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Cash, Cash Equivalents, and Marketable Securities [Text Block]	Note 2: Cash, Cash Equivalents, and Investments 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 investment securities by major security type as of June 30, 2022 December 31, 2021 June 30, 2022 (Unaudited) Gross Gross Level Unrealized Unrealized (1) Fair Value Holding Gains Holding Losses Adjusted Cost Cash and Cash Equivalents Cash $ 1,521,964 $ — $ — $ 1,521,964 Money Market Funds 1 7,954,448 — — 7,954,448 Subtotal 9,476,412 — — 9,476,412 Short-Term Investment Securities (2) Corporate Bonds (3) 2 6,111,831 — (52,002 ) 6,163,833 Total $ 15,588,243 $ — $ (52,002 ) $ 15,640,245 December 31, 2021 (Audited) Gross Gross Level Unrealized Unrealized (1) Fair Value Holding Gains Holding Losses Adjusted Cost Cash and Cash Equivalents Cash $ 1,377,094 $ — $ — $ 1,377,094 Money Market Funds 1 14,371,386 — — 14,371,386 Subtotal 15,748,480 — — 15,748,480 Short-Term Investment Securities (2) Corporate Bonds (3) 2 4,509,285 — (2,495 ) 4,511,780 Total $ 20,257,765 $ — $ (2,495 ) $ 20,260,260 _________________ Notes: ( 1 three • Level 1 • Level 2 • Level 3 ( 2 12 ( 3 The premiums paid to purchase held-to-maturity investment securities was and for the three ded June 30, 2022 2021 six June 30, 2022 2021 December 31, 2021 The Company considers the 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 June 30, 2022 not

Note 3 - Research and Collabora

Note 3 - Research and Collaboration Agreements, Sublicense Agreements, and Investments in Privately Held Companies	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Collaborative Arrangement Disclosure [Text Block]	Note 3: Research and Collaboration Agreements, Sublicense Agreements, and Investments in Privately Held Companies A Global Food Ingredient Company On May 10, 2022, Under the terms of the JDA, Dyadic is to develop its proprietary production cell lines for the manufacture of animal free ingredient product candidates. The research collaboration will be fully funded by the GFIC in an amount approximating $4.1 million over two eight The JDA can be terminated in its entirety, or any sublicense granted, in each case with or without cause, by either party within 90 Accounting Treatment The Company considered the guidance in ASC 808, 808 not 606, 606 The Company identified the following promises under the JDA: ( 1 2 two 3 4 The Company concluded that, while participation on the join steering committee was capable of being distinct from other promises, such participation is considered to be part of the research and development services and does not not not Based on management’s assessment, the Company concluded the agreed-upon research and development services and the R&D license under the R&D plan should be combined and accounted for as one 1 Under the JDA, the Company is also eligible to receive Success Fees upon certain milestones, a Commercialization Fee upon commercialization, and future sales-based royalty payments. The Success Fees are considered constrained variable considerations and excluded from the transaction price at inception. The Company will re-evaluate the Success Fees and estimate the transaction price in each reporting period and as uncertain events are resolved or other changes in circumstances occur. The Company will not For each of the three six June 30, 2022, f approximately $113,000 Phibro/Abic On February 10, 2022, July 1, 2020. April 2022. July 2022, Phibro/Abic may 90 Accounting Treatment The Company considered the guidance in ASC 808, 808 not 606, 606 The Company identified the following obligations under the Phibro/Abic Agreement: ( 1 C1 2 3 Based on management’s assessment, the Company conclu ded two p 1 2 C1 Accordingly, the Company records the R&D services as research and development revenue using the cost-based input method in accordance with the Company’s policy (see Note 1 Under the Phibro/Abic Agreement, the Company is eligible to receive an exclusivity payment of $100,000, certain milestone payment upon regulatory approval, and future sales-based royalty payments. The milestone payment is considered constrained variable consideration and excluded from the transaction price at inception. The Company will re-evaluate the transaction price in each reporting period and as uncertain events are resolved or other changes in circumstances occur. The Company will not For each of the three six June 30, 2022 three six June 30, 2022, pany recorded research and development revenues of approximately $40,000 and $54,000, respectively, in connection with the Phibro/Abic Agreement. Janssen On December 16, 2021, C1 one C1 C1 €1.6 C1 seven C1 one C1 C1 seven seven nine C1 Janssen may no 90 Accounting Treatment The Company considered ASC 808, 808 not 606, 606 The Company identified the following promises under the Janssen Agreement: ( 1 C1 2 3 4 5 C1 6 7 The Company concluded that the research and development services under the R&D Funding represents a separate unit of account, because it is a prerequisite to the license agreement and a third not Other promises including the reservation of targets and tech transfer are not not not not not Based on management’s assessment, the Company concluded two performance obligations should be accounted for separately: ( 1 2 C1 €1.6 1 As noted above, the Company received a non-refundable upfront payment of $0.5 million to reserve the initial protein targets until Janssen decides to exercise an option to license in the future, which represents a right to access the C1 The Company also excluded option exercise fees and future milestone payments that the Company was eligible to receive under the Janssen Agreement, from the initial transaction price. The Company will not esolved or other changes in circumstances occur. As of June 30, 2022 , the upfront payment was recorded in deferred license revenue, current and non-current portion in the amount of and , respectively. For the three six June 30, 2022 , the Company recognized and of the upfront payment as license revenue, respectively. For three six June 30, 2022, IDBiologics, Inc. On July 8, 2020, 2017 2, Pursuant to the term of the IDBiologics Agreement, on July 8, 2021, C1 2 not 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 On April 25, 2021, three six June 30, 2022 tely $0 and $109,000, respectively, of research and development revenue related to IDBiologics. Alphazyme On May 5, 2019, December 31, 2015, C1 On June 24, 2020, C1 C1 On December 1, 2020, m a third 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 As of June 30, 2022 not no BDI On June 30, 2017, The Company paid EUR €1.0 C1 C1 €936,000 two The Company concluded that BDI is not not not not not The Company performed a valuation analysis of the components of the transaction and concluded that the fair value of BDI equity interest was considered immaterial, the RSA Initial Payment of approximately USD $1.1 million (EUR €1.0 On July 26, 2021, August 2021. In connection with the BDI Sale, the Company also entered into an amendment to the Service Framework Agreement (the “Amended SFA”) with BDI Pharma. Under the Amended SFA, the Company maintains the right to engage in research and development projects at BDI Pharma until June 30, 2025, June 30, 2030, For the three six June 30, 2022 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. On February 15, 2022, On June 29, 2022,

Note 4 - Commitments and Contin

Note 4 - Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 4: Commitments and Contingencies Legal Proceedings We are not one

Note 5 - Share-based Compensati

Note 5 - Share-based Compensation	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	Note 5: Share-Based Compensation Description of Equity Plans The 2021 “2021 April 9, 2021 June 11, 2021. 2021 2011 “2011 2021 2021 no 2011 2021 2011 April 16, 2021. As of June 30, 2022 , the Company had stock options outstanding and an additional shares of common stock available for grant under the 2021 December 31, 2021 , there were 4,774,215 stock options outstanding and 4,263,386 shares of common stock available for grant under the 2021 Stock Options Options are granted to purchase common stock at prices that are equal to the fair value of the common stock on the date the option is granted. Vesting is determined by the Board of Directors at the time of grant. The term of any stock option awards under the Company’s 2011 2021 ten one 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. The assumptions used in the Black-Scholes option pricing model for stock options granted during the six June 30, 2022 Risk-Free interest rate 1.40% - 3.24% Expected dividend yield —% Expected stock price volatility 61.30 - 61.58% Expected life of options (in years) 5.50 - 6.25 The following table summarizes the stock option activities during the six June 30, 2022 Weighted-Average Weighted-Average Remaining Contractual Aggregate Intrinsic Shares Exercise Price Term (Years) Value Outstanding at December 31, 2021 4,774,215 $ 3.04 6.14 $ 8,413,444 Granted (1) 865,825 4.43 Exercised (35,000 ) 1.21 Expired (30,000 ) 6.87 Canceled (75,000 ) 4.81 Outstanding at June 30, 2022 5,500,040 $ 3.23 6.20 $ 4,113,421 Exercisable at June 30, 2022 4,070,223 $ 2.79 5.24 $ 3,937,808 _________________ Notes: ( 1 • Annual share-based compensation awards on January 3, 2022 one four $4.81per one four one • On June 10, 2022, one Compensation Expenses We recognize all share-based payments to employees and our Board of Directors, 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 expenses based upon its determination of the potential likelihood of achievement of the specified performance conditions at each reporting date. Total non-cash stock option compensation expense was allocated among the following expense categories: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 General and administrative $ 389,885 $ 401,133 $ 778,548 $ 778,185 Research and development 64,615 44,987 129,743 89,006 Total $ 454,500 $ 446,120 $ 908,291 $ 867,191

Note 6 - Shareholders' Equity

Note 6 - Shareholders' Equity	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	Note 6: Issuances of Common Stock For the six June 30, 2022 35,000 shares of the Company’s common stock issued resulting from the exercise of stock options with a weighted average issue price of $1.21 per share. For the six June 30, 2021 , there were 585,000 shares of the Company’s common stock issued resulting from the exercise of stock options with a weighted average issue price of $1.68 per share. 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

Note 7 - Subsequent Events

Note 7 - Subsequent Events	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Subsequent Events [Text Block]	Note 7: Subsequent Events Management continues to actively monitor the COVID- 19 For purpose of disclosure in the consolidated financial statements, the Company has evaluated subsequent events through August 10, 2022 not

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Impact of COVID-19, Policy [Policy Text Block]	Impact of COVID- 19 The outbreak of COVID- 19 The extent to which the COVID- 19 may 2 2 2 third 19 may may not 19 may
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 flows to provide the working capital needs for our operations. We believe that our existing cash position and investment in investment grade securities will be adequate to meet our operational, business, and other liquidity requirements for at least the next twelve 12 not 100 1 C1 no 100 1
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The accompanying unaudited condensed consolidated financial statements, including the accounts of the Company and its wholly owned subsidiaries, have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and footnote disclosures normally included in consolidated financial statements have been condensed or omitted pursuant to such rules and regulations. All significant intra-entity transactions and balances have been eliminated in consolidation. The information included in this Quarterly Report on Form 10 December 31, 2021, 10 March 29, 2022. In the opinion of management, the accompanying unaudited interim consolidated financial statements reflect all adjustments, which are of a normal recurring nature, considered necessary for a fair presentation of all periods presented. The results of the Company’s operations for any interim periods are not Since concluding the DuPont Transaction, the Company has conducted business in one operating segment, which is identified by the Company based on how resources are allocated, and operating decisions are made. Management evaluates performance and allocates resources based on the Company as a whole.
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 three June 30, 2022 2021 six June 30, 2022 2021 d from eleven and thirteen customers, respectively. As of June 30, 2022 and December 31, 2021 , the Company’s accounts receivable was from nine and eight customers, respectively. The loss of business from 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. For the three June 30, 2022 2021 , the Company had and customers outside of the United States (i.e., European and Asian customers) that accounted for approximately or and or of the revenue, respectively. For the six months ended June 30, 2022 2021 , the Company had and customers outside of the United States that accounted for approximately or and or of the revenue, respectively. As of June 30, 2022 , the Company had customers outside of the United States (i.e., European and Asian customers) that accounted for approximately or of accounts receivable. As of December 31, 2021 , the Company had four customers outside of the United States that accounted for approximately or of accounts receivable. The Company uses several contract research organizations (“CROs”) to conduct its research projects. For the three June 30, 2022 2021 , CROs accounted for approximately or and or of total research services we purchased, respectively. For the six June 30, 2022 2021 , and CROs accounted for approximately $2,794,000 or 96.5% and or of total research services we purchased, respectively. As of June 30, 2022 and December 31, 2021 , two CROs accounted for approximately or and approximately $1,312,000 or 84.8% of the accounts payable, respectively. The loss of one
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 As of June 30, 2022 December 31, 2021, not June 30, 2022 December 31, 2021
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 June 30, 2022 December 31, 2021 Accounts receivable consist of the following: June 30, 2022 December 31, 2021 (Unaudited) (Audited) Billed receivable $ 794,428 $ 101,175 Unbilled receivable 351,023 176,656 $ 1,145,451 $ 277,831
Accounts Payable, Policy [Policy Text Block]	Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consist of the following: June 30, 2022 December 31, 2021 (Unaudited) (Audited) Prepaid expenses - other $ 69,464 $ 45,839 Prepaid insurance 29,518 326,712 Prepaid research and development expenses 5,564 — Prepaid taxes 285 3,279 $ 104,831 $ 375,830 Accounts Payable Accounts payable consist of the following: June 30, 2022 December 31, 2021 (Unaudited) (Audited) Research and development expenses $ 896,760 $ 1,363,889 Legal expenses 95,597 27,675 Other 102,851 156,389
Accrued Expenses, Policy [Policy Text Block]	Accrued Expenses Accrued expenses consist of the following: June 30, 2022 December 31, 2021 (Unaudited) (Audited) Research and development expenses $ 833,517 $ 194,250 Employee wages and benefits 309,203 405,758 Other 81,618 109,552
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: Customer options: 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 for 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 three six June 30, 2022 2021 Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Outside contracted services $ 1,616,605 $ 2,036,753 $ 2,752,161 $ 3,695,947 Personnel related costs 199,475 149,587 406,265 297,749 Facilities, overhead and other 14,718 22,902 15,234 23,644
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
Income Tax, Policy [Policy Text Block]	Income Taxes For the six June 30, 2022 no June 30, 2022 December 31, 2021 y $15.7 million June 30, 2022 December 31, 2021
Other Income Policy [Policy Text Block]	Other Income The other income recognized during the six June 30, 2022
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 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 (“Board of Directors”), 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.
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 stock shares outstanding during the reporting period. Diluted net loss per share adjusts the weighted average number of common stock shares outstanding for the potential dilution that could occur if common stock equivalents, such as stock options were exercised and converted into common stock, calculated by applying the treasury stock method. For the three six June 30, 2022 2021
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Pronouncements In June 2016, 2016 13, Financial Instruments - Credit Losses (Topic 326 2016 13 first 2023. not 2016 13 In December 2019, No. 2019 12, Income Taxes (Topic 740 2019 12 January 1, 2021, 2019 12 not 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)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	June 30, 2022 December 31, 2021 (Unaudited) (Audited) Billed receivable $ 794,428 $ 101,175 Unbilled receivable 351,023 176,656 $ 1,145,451 $ 277,831
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]	June 30, 2022 December 31, 2021 (Unaudited) (Audited) Prepaid expenses - other $ 69,464 $ 45,839 Prepaid insurance 29,518 326,712 Prepaid research and development expenses 5,564 — Prepaid taxes 285 3,279 $ 104,831 $ 375,830
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	June 30, 2022 December 31, 2021 (Unaudited) (Audited) Research and development expenses $ 896,760 $ 1,363,889 Legal expenses 95,597 27,675 Other 102,851 156,389
Schedule of Accrued Liabilities [Table Text Block]	June 30, 2022 December 31, 2021 (Unaudited) (Audited) Research and development expenses $ 833,517 $ 194,250 Employee wages and benefits 309,203 405,758 Other 81,618 109,552
Schedule of Research and Development Costs [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Outside contracted services $ 1,616,605 $ 2,036,753 $ 2,752,161 $ 3,695,947 Personnel related costs 199,475 149,587 406,265 297,749 Facilities, overhead and other 14,718 22,902 15,234 23,644

Note 2 - Cash, Cash Equivalen_2

Note 2 - Cash, Cash Equivalents, and Investments (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Cash, Cash Equivalents and Investments [Table Text Block]	June 30, 2022 (Unaudited) Gross Gross Level Unrealized Unrealized (1) Fair Value Holding Gains Holding Losses Adjusted Cost Cash and Cash Equivalents Cash $ 1,521,964 $ — $ — $ 1,521,964 Money Market Funds 1 7,954,448 — — 7,954,448 Subtotal 9,476,412 — — 9,476,412 Short-Term Investment Securities (2) Corporate Bonds (3) 2 6,111,831 — (52,002 ) 6,163,833 Total $ 15,588,243 $ — $ (52,002 ) $ 15,640,245 December 31, 2021 (Audited) Gross Gross Level Unrealized Unrealized (1) Fair Value Holding Gains Holding Losses Adjusted Cost Cash and Cash Equivalents Cash $ 1,377,094 $ — $ — $ 1,377,094 Money Market Funds 1 14,371,386 — — 14,371,386 Subtotal 15,748,480 — — 15,748,480 Short-Term Investment Securities (2) Corporate Bonds (3) 2 4,509,285 — (2,495 ) 4,511,780 Total $ 20,257,765 $ — $ (2,495 ) $ 20,260,260

Note 5 - Share-based Compensa_2

Note 5 - Share-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Risk-Free interest rate 1.40% - 3.24% Expected dividend yield —% Expected stock price volatility 61.30 - 61.58% Expected life of options (in years) 5.50 - 6.25
Share-Based Payment Arrangement, Option, Activity [Table Text Block]	Weighted-Average Weighted-Average Remaining Contractual Aggregate Intrinsic Shares Exercise Price Term (Years) Value Outstanding at December 31, 2021 4,774,215 $ 3.04 6.14 $ 8,413,444 Granted (1) 865,825 4.43 Exercised (35,000 ) 1.21 Expired (30,000 ) 6.87 Canceled (75,000 ) 4.81 Outstanding at June 30, 2022 5,500,040 $ 3.23 6.20 $ 4,113,421 Exercisable at June 30, 2022 4,070,223 $ 2.79 5.24 $ 3,937,808
Share-Based Payment Arrangement, Activity [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 General and administrative $ 389,885 $ 401,133 $ 778,548 $ 778,185 Research and development 64,615 44,987 129,743 89,006 Total $ 454,500 $ 446,120 $ 908,291 $ 867,191

Note 1 - Organization and Sum_3

Note 1 - Organization and Summary of Significant Accounting Policies (Details Textual)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022 USD ($) shares	Jun. 30, 2021 USD ($) shares	Jun. 30, 2022 USD ($) shares	Jun. 30, 2021 USD ($) shares	Dec. 31, 2021 USD ($)
Number of Operating Segments			1
Revenue from Contract with Customer, Excluding Assessed Tax	$ 658,553	$ 937,092	$ 1,306,980	$ 1,397,612
Accounts Receivable, Allowance for Credit Loss, Ending Balance	0		0		$ 0
Deferred Tax Assets, Net, Total	$ 15,700,000		$ 15,700,000		$ 13,100,000
Deferred Tax Assets, Valuation Allowance Coverage, Percent			100%		100%
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | shares	5,605,040	4,799,215	5,605,040	4,799,215
Customer Concentration Risk [Member] | Revenue Benchmark [Member]
Concentration Risk, Number of Customers	7	11	11	13
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Non-US [Member]
Concentration Risk, Number of Customers	4	6	5	7
Revenue from Contract with Customer, Excluding Assessed Tax	$ 239,000	$ 797,000	$ 375,000	$ 1,121,000
Concentration Risk, Percentage	38.90%	85.10%	32.70%	80.20%
Customer Concentration Risk [Member] | Accounts Receivable [Member]
Concentration Risk, Number of Customers			9		8
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Non-US [Member]
Concentration Risk, Number of Customers			5		4
Concentration Risk, Percentage			15.60%		56.40%
Accounts Receivable, after Allowance for Credit Loss, Total	$ 179,000		$ 179,000		$ 157,000
Supplier Concentration Risk [Member] | Contract Research Organizations [Member]
Concentration Risk, Number of Customers	2	2
Concentration Risk, Number of Suppliers			2	3
Supplier Concentration Risk [Member] | Contract Research Organizations [Member] | Two CROs [Member]
Concentration Risk, Percentage	96.20%	95.80%	96.50%
Research Services Purchased	$ 1,299,000	$ 2,622,000	$ 2,794,000
Supplier Concentration Risk [Member] | Contract Research Organizations [Member] | Three CROs [Member]
Concentration Risk, Percentage				96.80%
Research Services Purchased				$ 4,639,000
Supplier Concentration Risk [Member] | Accounts Payable [Member]
Concentration Risk, Number of Suppliers			2		2
Supplier Concentration Risk [Member] | Accounts Payable [Member] | Two CROs [Member]
Concentration Risk, Percentage			79.70%		84.80%
Accounts Payable, Total	$ 873,000		$ 873,000		$ 1,312,000

Note 1 - Organization and Sum_4

Note 1 - Organization and Summary of Significant Accounting Policies - Accounts Receivable (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Accounts receivable	$ 1,145,451	$ 277,831
Billed Revenues [Member]
Accounts receivable	794,428	101,175
Unbilled Revenues [Member]
Accounts receivable	$ 351,023	$ 176,656

Note 1 - Organization and Sum_5

Note 1 - Organization and Summary of Significant Accounting Policies - Prepaid Expenses and Other Current Assets (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Prepaid expenses - other	$ 69,464	$ 45,839
Prepaid insurance	29,518	326,712
Prepaid research and development expenses	5,564	0
Prepaid taxes	285	3,279
Prepaid Expense and Other Assets, Current	$ 104,831	$ 375,830

Note 1 - Organization and Sum_6

Note 1 - Organization and Summary of Significant Accounting Policies - Accounts Payable (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Research and development expenses	$ 896,760	$ 1,363,889
Legal expenses	95,597	27,675
Other	102,851	156,389
Accounts Payable, Current, Total	$ 1,095,208	$ 1,547,953

Note 1 - Organization and Sum_7

Note 1 - Organization and Summary of Significant Accounting Policies - Accrued Expenses (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Research and development expenses	$ 833,517	$ 194,250
Employee wages and benefits	309,203	405,758
Other	81,618	109,552
Accrued Liabilities, Current, Total	$ 1,224,338	$ 709,560

Note 1 - Organization and Sum_8

Note 1 - Organization and Summary of Significant Accounting Policies - Research and Development Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Outside contracted services	$ 1,616,605	$ 2,036,753	$ 2,752,161	$ 3,695,947
Personnel related costs	199,475	149,587	406,265	297,749
Facilities, overhead and other	14,718	22,902	15,234	23,644
Research And Development Expense, Including Related Party	$ 1,830,798	$ 2,209,242	$ 3,173,660	$ 4,017,340

Note 2 - Cash, Cash Equivalen_3

Note 2 - Cash, Cash Equivalents, and Investments (Details Textual) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Corporate Debt Securities [Member]
Debt Securities, Held-to-maturity, Premium Paid on Purchase	$ 8,420	$ 0	$ 29,270	$ 283,940	$ 283,940

Note 2 - Cash, Cash Equivalen_4

Note 2 - Cash, Cash Equivalents, and Investments - Major Security Type (Details) - USD ($)		Jun. 30, 2022		Dec. 31, 2021
Cash and cash equivalent, fair value		$ 9,476,412		$ 15,748,480
Cash, adjusted cost		1,521,964		1,377,094
Money Market Funds, adjusted cost		7,954,448		14,371,386
Cash and cash equivalents, adjusted cost		9,476,412		15,748,480
Corporate Bonds, gross unrealized holding losses		(52,002)		(2,495)
Short-term investment securities		6,163,833		4,511,780
Total, fair value		15,588,243		20,257,765
Total, adjusted		15,640,245		20,260,260
Total, fair value		15,588,243		20,257,765
Short-term Corporate Bonds [Member]
Short-term investment securities	[1],[2]	6,163,833
Corporate Bond Securities [Member]
Short-term investment securities	[3]			4,511,780
Cash [Member]
Cash and cash equivalent, fair value		1,521,964		1,377,094
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalent, fair value		7,954,448		14,371,386	[4]
Short-term Corporate Bonds [Member] | Fair Value, Inputs, Level 2 [Member]
Corporate Bonds, fair value		6,111,831	[1],[2]	4,509,285	[3]
Corporate Bonds, gross unrealized holding losses		$ (52,002)	[1],[2]	$ (2,495)	[3]
[1]Short-term investment securities will mature within 12 months or less, from the applicable reporting date.[2]The premiums paid to purchase held-to-maturity investment securities was $20,850 and $283,940 for the three months ended March 31, 2022, and 2021 , respectively. The premiums paid to purchase held-to-maturity investment securities was $283,940 for the year ended December 31, 2021.[3]The premiums paid to purchase held-to-maturity investment securities was $20,850 and $283,940 for the three months ended March 31, 2022, and 2021, respectively. The premiums paid to purchase held-to-maturity investment securities was $283,940 for the year ended December 31, 2021.[4]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 Agreements, and Investments in Privately Held Companies (Details Textual)					1 Months Ended		3 Months Ended			6 Months Ended		12 Months Ended
	May 10, 2022 USD ($)	Jun. 24, 2020	Jun. 30, 2017 USD ($)	Jun. 30, 2017 EUR (€)	Apr. 30, 2022 USD ($)	Aug. 31, 2021 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)	Feb. 10, 2022	Dec. 16, 2021 USD ($)	Dec. 16, 2021 EUR (€)	Jul. 26, 2021	Jul. 08, 2021 shares	Dec. 01, 2020 USD ($)	Apr. 26, 2019
Collaborative Arrangement, Payment for Research and Development Agreement			$ 1,100,000	€ 1,000,000
Revenue from Contract with Customer, Excluding Assessed Tax							$ 658,553		$ 937,092	$ 1,306,980	$ 1,397,612
Number of Performance Obligations														2	2
Upfront Payment Payable														$ 500,000
Research and Development Expense, Related Party												$ 0
Deferred License Revenue, Current							176,471			176,471		147,059
Deferred License Revenue, Net of Current Portion							264,706			264,706		$ 352,941
Cost of Goods and Services Sold, Total							411,109		829,504	815,855	1,220,266
Research and Development Expense, Total							1,830,798		2,209,242	3,173,660	4,017,340
BDI Holdings [Member]
Proceeds from Sales of Business, Affiliate and Productive Assets						$ 1,600,000
Research Services Agreement [Member]
Collaborative Arrangement, Payment for Research and Development Agreement | €				€ 1,000,000
Alphazyme [Member]
Sale of Stock, Percentage of Ownership after Transaction		2.50%
Novovet [Member]
Equity Method Investment, Ownership Percentage																			20%
ID Biologics Inc [Member]
Investment Owned, Balance, Shares (in shares) | shares																	129,661
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners																	0.37%
Cost of Goods and Services Sold, Total							0			109,000
Alphazyme [Member]
Ownership Percentage																		1.99%
Equity Securities without Readily Determinable Fair Value, Amount																		$ 284,709
BDI Holdings [Member]
Ownership Percentage																16.10%
Research and Development Expense, Total							0			0
BDI Holdings [Member] | Research Services Agreement [Member]
Collaborative Arrangement, Equity Interest Acquired			16.10%	16.10%
Collaborative Arrangement, Minimum Obligation For Research and Development | €				€ 936,000
VLPBio Member
Ownership Percentage																3.30%
VLPBio Member | Research Services Agreement [Member]
Collaborative Arrangement, Equity Interest Acquired			3.30%	3.30%
Research and Development [Member]
Revenue from Contract with Customer, Excluding Assessed Tax							614,435		937,092	1,148,156	1,397,612
License [Member]
Revenue from Contract with Customer, Excluding Assessed Tax							44,118		$ 0	158,824	$ 0
A Global Food Ingredient Company [Member]
Collaborative Arrangement, Payment for Research and Development Agreement	$ 4,100,000
Collaborative Arrangement, Duration Of Agreement (Year)	2 years
A Global Food Ingredient Company [Member] | Research and Development [Member]
Revenue from Contract with Customer, Excluding Assessed Tax							113,000			113,000
Abic Biolgical Latories Ltd. [Member]
Number of Performance Obligations													2
Abic Biolgical Latories Ltd. [Member] | Research and Development [Member]
Revenue from Contract with Customer, Excluding Assessed Tax							40,000			54,000
Abic Biolgical Latories Ltd. [Member] | License [Member]
Revenue from Contract with Customer, Excluding Assessed Tax					$ 100,000		0	$ 100,000		100,000
Janssen Pharmaceutical Companies [Member]
Non-refundable Upfront Payment, Received														$ 500,000
Deferred License Revenue, Current							176,000			176,000
Deferred License Revenue, Net of Current Portion							265,000			265,000
Deferred License Revenue							44,000			59,000
Janssen Pharmaceutical Companies [Member] | Research and Development [Member]
Revenue from Contract with Customer, Excluding Assessed Tax							$ 181,000			$ 246,000
Contract with Customer, Asset, after Allowance for Credit Loss, Total | €															€ 1,600,000

Note 5 - Share-based Compensa_3

Note 5 - Share-based Compensation (Details Textual) - $ / shares			6 Months Ended
	Jun. 10, 2022	Jan. 03, 2022	Jun. 30, 2022	Dec. 31, 2021	Apr. 16, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number, Ending Balance (in shares)			5,500,040	4,774,215
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)			865,825
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)			$ 4.43
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term (Year)			5 years 6 months
Executives and Key Personnel [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)		$ 4.81
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)		277,500
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, 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)		$ 4.81
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, 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)		$ 4.81
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)		1 year
Share-Based Payment Arrangement, Option [Member] | Non-executive Members of the Board [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)	150,000
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)	$ 2.60
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	1 year
Share-Based Payment Arrangement, Option [Member] | Share-based Compensation Award Tranche Two through Five [Member] | Executives and Key Personnel [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)		4 years
Performance Shares [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)		75,000
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)		$ 4.81
The 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, Options, Outstanding, Number, Ending Balance (in shares)			5,500,040	4,774,215
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares)			3,652,561	4,263,386
The 2011 Plan [Member] | Share-Based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)			10 years
The 2011 Plan [Member] | Share-Based Payment Arrangement, Option [Member] | Share-Based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)			1 year
The 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)			1 year
The 2011 Plan [Member] | Share-Based Payment Arrangement, Option [Member] | Share-Based Payment Arrangement, Tranche One [Member] | Chief Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term (Year)			5 years
The 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
The 2011 Plan [Member] | Share-Based Payment Arrangement, Option [Member] | Share-Based Payment Arrangement, Tranche Two [Member] | Contractor [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term (Year)			3 years
The 2011 Plan [Member] | Share-Based Payment Arrangement, Option [Member] | Share-Based Payment Arrangement, Tranche Two [Member] | Chief Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term (Year)			10 years

Note 5 - Share-based Compensa_4

Note 5 - Share-based Compensation - Black-Scholes Options Pricing Model (Details)	6 Months Ended
	Jun. 30, 2022
Minimum [Member]
Risk-Free interest rate, minimum	1.40%
Expected stock price volatility, minimum	61.30%
Expected life of options (Year)	5 years 6 months
Maximum [Member]
Risk-Free interest rate, maximum	3.24%
Expected stock price volatility, maximum	61.58%
Expected life of options (Year)	6 years 3 months

Note 5 - Share-based Compensa_5

Note 5 - Share-based Compensation - Stock Option Activity (Details) - USD ($)		3 Months Ended	6 Months Ended
	Dec. 31, 2021	Mar. 31, 2022	Jun. 30, 2022
Outstanding, shares (in shares)		4,774,215	4,774,215
Outstanding, weighted average exercise price (in dollars per share)		$ 3.04	$ 3.04
Weighted-average remaining contractual term, outstanding (Year)	6 years 1 month 20 days		6 years 2 months 12 days
Aggregate intrinsic value, outstanding	$ 8,413,444		$ 4,113,421
Granted, shares (in shares)			865,825
Granted, weighted average exercise price (in dollars per share)			$ 4.43
Exercised, shares (in shares)			(35,000)
Exercised, weighted average exercise price (in dollars per share)			$ 1.21
Expired, shares (in shares)			(30,000)
Expired, weighted average exercise price (in dollars per share)			$ 6.87
Canceled, shares (in shares)		(75,000)
Canceled, weighted average exercise price (in dollars per share)		$ 4.81
Outstanding, shares (in shares)	4,774,215		5,500,040
Outstanding, weighted average exercise price (in dollars per share)	$ 3.04		$ 3.23
Exercisable, shares (in shares)			4,070,223
Exercisable, weighted average exercise price (in dollars per share)			$ 2.79
Weighted-average remaining contractual term, exercisable (Year)			5 years 2 months 26 days
Aggregate intrinsic value, exercisable			$ 3,937,808

Note 5 - Share-based Compensa_6

Note 5 - Share-based Compensation - Noncash Stock Option Compensation (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Stock-based compensation	$ 454,500	$ 446,120	$ 908,291	$ 867,191
General and Administrative Expense [Member]
Stock-based compensation	389,885	401,133	778,548	778,185
Research and Development Expense [Member]
Stock-based compensation	$ 64,615	$ 44,987	$ 129,743	$ 89,006

Note 6 - Shareholders' Equity (

Note 6 - Shareholders' Equity (Details Textual) - USD ($)		3 Months Ended			6 Months Ended
	Aug. 13, 2020	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares)					35,000
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price (in dollars per share)					$ 1.21
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%
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)		35,000	525,000	60,000	35,000	585,000
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price (in dollars per share)					$ 1.21	$ 1.68